Resources Top 5: Investors are hungry for this mixed bag of winners
Today’s biggest resources winners (so far) are Ecograf, Crater Gold Mining, White Cliff Minerals, Heron Resources, and Ironbark Zinc.
Reedy South sits along the Reedy Shear Zone, a source of mineralisation that feeds Westgold Resources (ASX:WGX) South Emu-Triton and Paddy’s Flat gold mines.
White Cliff is using 9,500m of historic drilling – which includes hits like 7m at 10.86 grams per tonne (g/t) from 30m – to put together a maiden resource estimate.
Drilling will kick off in October, the company says.
Struggling miner Heron Resources (ASX:HRR) is running the ruler over potential refinancing, joint venture, or sale options for its mothballed Woodlawn zinc-copper project in NSW.
When production kicked off in May last year, Woodlawn was expected to produce 40,000t of zinc, 10,000t of copper, 12,000t of lead, 900,000oz of silver and 4,000oz of gold over an initial mine life of 9.3 years.
Operations were suspended less than a year later.
“It has been a challenging time for Heron since taking the difficult, but right decision to suspend operations at Woodlawn in March this year, and we acknowledge the patience and support of our creditors during this period,” Heron chief exec Tim Dobson says.
“It is pleasing that Heron’s key stakeholders have agreed to provide a clear runway and financial support to execute the strategic process over the next 12 months.”
Ironbark Zinc (ASX:IBG) has revealed a maiden ore reserve at its flagship Citronen project in Greenland.
For mine developers, the ‘higher confidence’ ore reserve is typically required to lock in project offtake and financing.
“The declaration of the maiden ore reserve for the underground deposit at Citronen represents another significant milestone as the project moves towards a financial investment decision in 2021,” Ironbark boss Michael Jardine says.
“A rising zinc price environment, backed by a completely refreshed and reoptimised feasibility study to be completed in early 2021, will be the launching pad for Ironbark to make its long-anticipated transition from explorer to producer.”
WA-based graphite battery material stock EcoGraf (ASX:EGR) has surged in morning trade to 12-month highs.