Resources Top 5: Iron ore sale a bundle of joy for Juno Minerals

• Juno Minerals is selling the non-core Mount Mason DSO hematite project to Gold Valley Yilgarn
• Renascor Resources seals key approval for South Australian battery anode materials plant
• Terra Metals has raised $4m to accelerate exploration at the Dante project 

Your standout resources stocks for Friday, June 13, 2025.

Juno Minerals (ASX:JNO)

Jupiter Mines spinoff Juno Minerals has cashed in on one of the assets left over from its IPO, trading its Mount Mason DSO deposit to private iron ore miner Gold Valley.

The $6m cash deal saw JNO hit a daily high of 4.2c, a 68% increase on the previous close, before closing 32% higher at 3.3c.

The sale will enable Juno to focus more attention on the flagship Mount Ida Magnetite Project while retaining an income stream from Mount Mason by way of a 2% FOB royalty on all iron ore production from the project.

Juno has already boosted its bank balance after receiving $3m of the sale consideration with the balance payable at completion, which is expected within six months.

Gold Valley Yilgarn is an established iron ore producer in the region and Mount Mason is fully permitted for development, with the purchaser proposing to begin DSO production in mid-2026.

It will complement production from Wiluna into an established supply chain to the Port of Esperance, opened up after MinRes’ closure last year of the Koolyanobbing iron ore mine.

Juno proposes to use the proceeds from the sale towards maintaining its Mount Ida magnetite project, exploring new opportunities and for general working capital requirements.

Mount Mason hosts a mineral resource of 5.9Mt of hematite iron ore at 60.1% Fe.

The agreement also sees Juno granting GVY a non-exclusive licence to construct and use an approved 27km haul road from the proposed project mine site to the Menzies North-West Road, which traverses Juno’s Mt Ida mining tenements. 

The term of access is eight years and this licence will enable GVY to haul Mount Mason DSO to Kalgoorlie, for it then be loaded onto rail for the haul to the Port of Esperance.

To enable GVY to undertake human resourcing for Project development and mining,

Juno has also agreed to lease its Cassini Village to GVY for a nominal monthly fee, allowing GVY to undertake human resourcing for project development and mining.

It is expected completion of the sale and transfer of the project to GVY will occur within six months, following receipt of relevant regulatory approvals, including Ministerial approval for the transfer of the mining lease under the Mining Act.

Mount Ida is a strategic major asset with a current resource of 1.85Bt at 29.48% Fe on a granted mining lease and is the largest magnetite resource in the Yilgarn region.

It neighbours Hancock Prospecting and Legacy Iron Ore’s Mt Bevan Magnetite Project JV, which is undergoing feasibility work.

Magnetite concentrate’s higher grade, consistent product specifications and quality produce a higher quality steel and is the preferred smelter feedstock. 

With the green steel thematic, Mount Ida continues to be a major asset for Juno, and increased focus will be undertaken to attract a JV partner to earn-in on the project by completing a feasibility study.

Renascor Resources (ASX:RNU)

The grant of provisional development authorisation for a commercial-scale manufacturing facility in South Australia has put Renascor Resources closer to becoming a battery anode materials producer and sent shares to a daily high of 6.9c, a lift of 17% on the previous close.

Approval from SA’s Minister for Planning Nick Champion allows the company to start construction of the downstream portion of its vertically integrated BAM project.

It follows extensive consultation with community stakeholders and local and State Government agencies along with the Minister’s determination that RNU’s EIS for the BAM facility meets the standards of South Australia’s Planning, Development and Infrastructure Act 2016.

The authorisation is conditional on Renascor Resources (ASX:RNU) securing approval for the final detailed design and plans for the BAM facility, which will be capable of producing up to 100,000tpa of purified spherical graphite for use in lithium-ion batteries.

“With this important regulatory milestone now achieved, we look forward to continuing our engagement with the Department for Housing and Urban Development, the City of Salisbury and the local community as we advance our plans to construct and operate a state-of-the art manufacturing facility in South Australia,” managing director David Christensen said.

The project is at an advanced development stage with the company having completed a definitive feasibility study and secured approval for its Program for Environment Protection and Rehabilitation for the upstream graphite mine and processing operation.

Besides the PSG manufacturing facility, the BAM project includes the Siviour graphite deposit and the planned graphite mine and processing operation.

Siviour, the world’s second largest proven reserve of graphite and largest outside of Africa, is expected to be exploited via a conventional open pit mine and crush, grind, float processing circuit that will deliver world-class operating costs due to the favourable geology and geometry of the deposit.

Graphite concentrate from the mine will be converted into PSG using an environmentally-friendly processing method before being exported to lithium-ion battery anode manufacturers.

RNU is making progress with its co-funded PSG demonstration facility with commissioning of the water treatment circuit planned next quarter and full-scale commissioning expected in Q4 2025.

Terra Metals (ASX:TM1)

Raising $4m in a placement at 3.5c per share provides strong validation of Terra Metals and its strategy centred on the Dante polymetallic project in Western Australia. 

The placement, which attracted support from two strategic investors with extensive operational expertise and long-term commitment to resource development, will support an acceleration of exploration, including drilling at Dante.

As well as support from Golden Energy and Resources (GEAR), controlled by Indonesia’s Widjaja family, and Matthew Latimore, founder and president of M Resources, TM1’s largest shareholder, Tribeca Investment Partners, also committed to participate to maintain its 15% stake, pending shareholder approval.

GEAR operates metallurgical coal assets in Queensland and NSW through ASX subsidiaries Stanmore Coal (ASX:SMR) and Illawarra Coal Holdings, as well as a 50% interest in the Ravenswood gold mine in Queensland which produces about 200,000oz annually.

M Resources holds a diversified portfolio, including nearly 5% of Stanmore Resources, a 55% stake in underground mining services company Mastermyne, 50% in Magnetic Infrastructure Group (ultimate owner of OneRail Australia Holdings), and 12% of GM Illawarra Metallurgical Coal Complex. 

“Dante has proven exceptional metallurgical performance from first-pass testwork, with optimisation continuing,” TM1 CEO and managing director Thomas Line said. 

“The maiden resource estimation is also currently underway, based on 10% of the outcropping strike. 

“This investment from strategic investors is a clear validation for the immense scale potential of Dante,” Line added. 

“We will use these funds to drill out the exploration upside and show resource potential of the Dante project.” 

Terra Metals reached 5c, a 19.1% increase on the previous close, before closing at 4.5c.

New Murchison Gold (ASX:NMG)

High-grade gold intersections at Crown Prince within the flagship Garden Gully Project near Meekatharra in WA have seen New Murchison Gold lift 29.5% to 2.2c, a new high of more than seven years, on volume of more than 166m.

Infill resource estimation RC drilling covering the early mining benches in the proposed pit design at Crown Prince has been finalised ahead of mining.

Results include 10m at 6.96g/t gold from 56m, including 1m at 56.67g/t from 58m; 2m at 195.79g/t from 26m; 40m at 11.79g/t from 3m, including 5m at 67.45g/t from 20m; and 31m at 9.70g/t from 3m, including 5m at 46.47g/t from 24m.

This grade control drilling supports the continuity of the mineralised structures at Crown Prince and replicates the grades returned previously from resource drilling.

“We are pleased to report high gold grades from this round of grade control drilling which adds further confidence to the mining proposition at Crown Prince in addition to the recently announced high-grade caprock results,” NMG’s CEO Alex Passmore said:  

“The mineralised zones and grades defined by our grade control programs so far are confirming our expectations on a high-grade, high return open pit proposition.”

Eagle Mountain Mining (ASX:EM2)

(Up on no news)

Eagle Mountain Mining, a copper-gold explorer focused on the exploration and development of the Wedgetail and Silver Mountain projects in the US, reached 0.7c, a 40% increase, despite having no news. 

The company is busy in Arizona, at the heart of America’s mining industry and home to some large copper discoveries such as Bagdad, Miami and Resolution, one of the world’s largest undeveloped copper deposits.

At the close of business on June 6, 2025, Charlie Bass stepped down from his position as managing director of EM2.

Bass was an instrumental part of Eagle Mountain from inception, including the private purchase of the Silver Mountain project in 2011, the company’s IPO in 2018 and the acquisition of the Oracle Ridge project in 2020. 

He contributed immensely to the company for seven years through his wealth of knowledge in the resources sector and experience in the US and while his expertise, passion and drive will be missed, he will continue to support the company in his role as a major shareholder.

Eagle Mountain has been preparing for this change with the recent appointments of Fabio Vergara and Michael Fennell to the board and has no near-term plans to replace the managing director role.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Renascor Resources and Terra Metals are Stockhead advertisers, they did not sponsor this article.