Category: Research

Kalamazoo Resources Ltd (KZR.ASX) – Commissioned Research Report

by Barry Dawes

Exposure to exciting Victorian and Pilbara gold exploration

Kalamazoo (KZR) is a very interesting company with an impressive track record since listing less than four years ago. It has built an asset base and astutely secured funding that has placed the company in a strong position to confidently carry out its programmes over the next few years.

The company has its focus on two key areas, Victoria and the Pilbara, that are likely to be amongst the most important and exciting exploration centres in Australia for the next five years.

Key Points

  •  Exposure to the Victoria Gold Renaissance
    • 100% owned tenements covering three goldfields and 476km2
  • Exposure to Pilbara gold developments
    • Four projects covering 600km2

Victorian Gold Renaissance Growth Assets

  • Castlemaine gold project – 5.6moz historic production 310km2
  • South Muckleford Gold Project – 2.1moz Historic Goldfield 161km2
  • Tarnagulla Central Gold Project – 0.7moz Historic Goldfield 5km2

Pilbara Gold Potential Recognition Growth Assets

  • Ashburton Gold Project – 1.6moz resource 217km2
  • The Sisters Gold Project – 136km2
  • DOM’s Gold Project – 217km2
  • Marble Bar Gold Project – 48km2

 Call me to discuss:
bdawes@mpsecurities.com.au
+61 2 9222 9111

Kalamazoo Resources - Gold Exploration

In Victoria, KZR has accumulated 100% ownership of three historic goldfields in the important 60moz Bendigo Zone that have a combined past production of over 8moz.

In the Pilbara, KZR’s projects include the recent Ashburton 1.6moz resource acquisition and those in the vicinity of DEG’s exciting Mallina Gold Project.
KZR’s impressive growth has been through strategic asset accumulation and its future is developing them.

The potential of KZR’s tenements and its corporate character have been recognised by Quinton Hennigh, President of Novo Resources and adviser to Kirkland Lake on Fosterville and also KL.TSX Chairman Eric Sprott with respective shareholdings in KZR.


Front page of the Kalamazoo Resources research report from Martin Place Securities

Call me to participate.
Barry Dawes
BSc F AusIMM MSAFAA
Executive Chairman
Martin Place Securities
+61 2 9222 9111
bdawes@mpsecurities.com.au

19 July 2020

Commissioned Research Report Lake Resources Ltd (LKE.ASX)

by Alison Sammes

Key Points

  • Lake Resources has five lithium projects in Argentina:-
    • Brines - Kachi, Cauchari, Olaroz and Paso in Jujuy Province
    • Pegmatites- 150km strike exploration in Catamarca Province
  • Flagship Kachi Inferred Ore Reserves of 4.4Mt LCE @216mg/L LCE*
  • PFS for 25ktpa LCE Kachi due in March Qtr 2020
  • Unique low operating cost Business Plan
  • Pilot plant for innovative Lilac direct extraction technology underway
  • Technology gives >80% lithium recovery and slashes processing time
  • Lilac Solutions now backed by Gates/Bezos Sustainability Fund
  • Cauchari adjoins Ganfeng JV - has achieved 506m @ 505mg/L lithium
  • Lithium market bottoming & turning up–needs >600% supply increase
  • Strong growth in batteries for EVs demand and energy storage uses
  • Project funding likely in 2020 for Kachi and first output in 2023
  • Significant rerating of the company due over 2020

* lithium carbonate equivalent

Call me to discuss:
bdawes@mpsecurities.com.au
+61 2 9222 9111


High Purity Lithium Production in Argentina

LKE has a lithium development strategy with projects in the prime Argentinian brine producing regions and utilising innovative technologies to minimise operating costs and to maximise earnings and sustainability benefits.

LKE’s 4.4mt LCE Kachi resource will utilise Lilac Solutions ion exchange technology in its project with a PFS due shortly for 2023 production startup.

Lithium sector undergoing improved conditions as supply and demand match.

The rise and rise of the lithium-ion battery is changing the world.

The versatility of this technology for application from smartphones, domestic appliances, power storage to Electric Vehicles (hereon EVs) implies universal acceptance and dependence. The advent of the high tech chemical refiner and processor for battery plants is changing the lithium industry.

It becomes critical to understand that whilst lithium prices are soft it does appear that they are bottoming and as the near term market balance is being sorted out. Underlying battery demand is inexorably rising between 15-18% per year together with EV and energy storage demand and will eventually impact the lithium price.

LKE has globally significant resources and has Lilac Solutions’ innovative approach to lithium recovery from brines.

Ion exchange technology cuts out the time and capital intensive evaporative process from the flow sheet.

Commissioned Research Report Torian Resources Ltd (TNR.ASX)

by Alison Sammes

Key Points From Research on Torian Resources Ltd

  • Small explorer resuming activities along Zuleika Shear near Kalgoorlie
  • A$6m of JV funding in place for the next four years
  • Mt Stirling resource near RED.ASX Ursus Fault discoveries along from King of the Hills
  • Small scale mining project in consideration for 2020
  • Kalgoorlie region has numerous new targets beneath alluvium cover
  • Very small market cap but high potential
  • Download Full Research Report here

Call me to discuss:
bdawes@mpsecurities.com.au
+61 2 9222 9111


Developing Quality Gold Exploration Portfolio in WA

Torian has quality exploration tenements in two prolific gold production regions in Western Australia and is ready to resume activity after a period of tenement rationalisation and management changes.

Kalgoorlie Region tenements have six projects including the Zuleika Shear, Credo Well, Mt Monger and Gibraltar. This Kalgoorlie region has a widespread blanket of transported cover and little outcrop and is undergoing a major re-evaluation and re-interpretation from basic principles as new gold hosting environments in the Black Flag Group (including sediments) are recognised. Over 127 targets have been identified by TNR on its tenements using geological and geophysical tools.

Leonora Region tenements have three projects Mt Stirling, Mt Stirling Well and Diorite. Mt Stirling is adjacent to RED.ASX’s very encouraging King of the Hills development and likely to provide near term cashflow from small scale mining.

Torian has accelerated the activity over its portfolio by farm-outs and is seeking to achieve gold production and build cash by end 2020.

MPS Commissioned Research Report Nova Minerals Ltd (NVA.ASX) – Update

by Alison Sammes

Nova Minerals Report Key Points

  • Maiden 2.5Moz Inferred JORC Resource achieved in Sept 2019
  • Resource size 181m tonnes @0.43g/t Au at 0.18g/t cut-off
  • Korbel is a near-surface, large scale and low strip IRGS deposit
  • Blocks A & B are open at depth and along strike
  • Resources drilling program underway in early 2020
  • Expect resource upgrade to double current resource base
  • Follow up drilling on RPM target - 102m @1.04g/t Au
  • Estelle tenement area extended by 85% to 220km2
  • Tenements have 15 known gold prospects so far
  • Estelle value could exceed $0.20/NVA share
  • Download Full Nova Minerals Research Report here

Nova Minerals (NVA) has the Estelle Gold Camp in the premier Tintina Gold Belt that hosts >220Moz in mostly bulk tonnage but high margin deposits.

Estelle has established a 2.5Moz JORC resource on Korbel Blocks A&B and the 2020 program is targeting a further 2-5Moz from here and in Targets C&D.

Officer Hill Gold Project with Newmont showing encouraging results chasing Callie-style mineralisation in the Tanami Region gold system. 

Nova Minerals Ltd Research Report Front Page

NVA is fortunate in having a number of existing new or project mines in the Tintina Gold Belt for comparison so indications on capital and operating costs are current or recent.

Nova Minerals Ltd Research Report Comparisons with Dublin Gulch (Victoria Gold - Eagle Mine)
The geophysical work at Korbel has identified additional potential resources at Targets C and D but it is important to note that no drilling has yet tested these Targets at all.

Call me to participate.

Barry Dawes BSc F AusIMM MSAFAA

Executive Chairman
Martin Place Securities

+61 2 9222 9111
bdawes@mpsecurities.com.au

Disclaimer: This commissioned report has been written by Martin Place Securities Pty Ltd. Data has been sourced from available public information and reflects the author’s own assessments.

GoGreen Holdings Invesment

by Barry Dawes

INVESTMENT OPPORTUNITY FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY.

THIS IS NOT A PROSPECTUS


Beyond Meat (BYND.NASDAQ) produces plant based meat products

  • Stock price peaked at a 850% gain from US$25 IPO price to ~US$240!
  • Market cap exceeded US$14bn and is now ~US$10bn
  • Plant-based meat substitutes finally have meat tasting products
  • BYND will report 170% sales gains in 2019 to US$240m
  • Product distribution through mass marketing giving rapid sales growth
  • These products likely to achieve 10% market value share of 300mtpa meat market by 2030
  • Market value of broad meat market could be US$2-3tn by 2030
  • Clean meats revolution is starting as a global phenomenon
  • Australian based Go Green Holdings has Australian and Asian market opportunities
  • Product sourced from Taiwanese manufacturers with >25 year sales experience
  • ASX listing proposed through associate GoConnect (GCN.ASX) 44% share holder   
  • Significant upside potential possible here
  • Stock now available in Go Green Holdings at A$1.50/share
  • Commissioned Research Report attached
  • LINK to my  VIDEO interview on Go Green with ProActive investors    https://youtu.be/fSLXqksL8mA
  • Contact me to participate: 
    bdawes@mpsecurities.com.au 
    +61 2 9222 9111

Global meat production 300m tonnes

The first 'tastes, cooks and looks like meat' burger

GoGreen’s Product source at Hoya Foods in Taiwan  - >25 years production and global sales


INVESTMENT OPPORTUNITY FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY.

THIS IS NOT A PROSPECTUS


Video link to interview today on Proactive Investors

https://youtu.be/fSLXqksL8mA

Call me to participate

+61 2 9222 9111

Research Report: Torian Resources (ASX:TNR)

by Alison Sammes

Torian Resources is a key participant in the Zuleika Corridor Gold Camp

Key Points

  • TNR is earning 49% of ~223km2 along the Zuleika Corridor by spending $5m
  • Zuleika Corridor Coolgardie Domain already has >7moz in resources
  • 7 major recent gold discoveries in contiguous ground by NST & EVN
  • 55,000m of RAB and RC drilling planned by TNR for FY17
  • Existing local mill facilities allow rapid discovery to production potential
  • Mt Stirling offers high-grade, >98% recovery near-term production potential
  • A$3.5m raised in recent capital issue to fully fund its FY17 programme
Download the report now
Martin Place Securities has produced a commissioned research report on Torian Resources, a small company operating in and around Kalgoorlie with particular focus on tenements along the Zuleika Corridor about 40km west of Kalgoorlie. What began as an interesting region for a small cap exploration play for MPS clients, the Zuleika Shear west of Kalgoorlie (now considered in some circles to be the Zuleika Corridor) has turned out to be something far more significant for the Australian gold industry and for the major companies in this area:- Northern Star, Evolution, Tribune and Rand Resources. This Zuleika Corridor is now Australia's fifth largest goldfield, producing over 400,000ozpa, and is expected to rise as new mines from NST and EVN in particular are brought on stream. The K2 and Strzleckie Structures carry narrow very high grade veins that support high grade and low cost mines that are currently very profitable and are amongst Australia's highest grade producers. This production growth in a single goldfield mining camp is unprecedented in Australia my experience. The growth in resources is also very substantial and the technical evidence from NST in particular is that the strong growth will continue.

Whilst most DawesPoints readers will be aware of the spectacular +750% performance of the ASX Gold Index from 2000 into 2011 like this:

They may not be aware that WA and the Kalgoorlie region in particular did not participate and in fact gold production fell 50% into 2008.

The gold production renaissance now underway and the exciting performance of the Zuleika Corridor makes for outstanding investment opportunities in the areas around Kalgoorlie. Torian Resources is very well placed here and the Company's management which includes MD Matthew Sullivan, who also discovered important deposits in Kundana itself and also Kanowna Belle, has assembled a tenement package that covers about 25% of the line of strike of the highly productive K2 structure along the Zuleika Shear. Torian's tenements along the Zuleika Shear are well chosen and even the tenements in the NE beyond Mt Pleasant may prove up to be a pleasant surprise.

 

The company is small but the opportunity has large potential and is deserving of a thorough assessment. The data indicates that the region is still substantially underexplored with <5% of drill holes to date exceeding 100m below surface. Barry Dawes BSc FAusIMM  MSAA I own TNR, NST, EVN, TBR and Cascade.   [button id="" css_class="" button_text="Download Torian Report" button_url="http://paradigmsecurities.com.au/wp-content/uploads/Torian_Resources_Ltd_Research_Report_Initiating_Coverage_.01.pdf" button_style="style-1"]

Blackham Resources Limited (ASX: BLK) Research Update – Moving To Mining

by Alison Sammes
The gold price is beginning to show encouraging signs of beginning the next stage of the long term bull market that will take it to new highs over US$2000/oz. The demand for gold from India and China already exceeds global mine production and is adding to high investment interest from Europe and North America.  Central banks are also now significant net buyers so the overall gold market is tightening up. We also have to ask `who will be the sellers?’ to meet this demand at today’s prices. Gold has already been rising in most currencies and the recent weakness in the A$  has pushed up the gold price up above A$1500/oz. The ASX  Gold Index has responded to the better gold market and is up 60% from its low in November but it is still 69% below the 2011 high when gold was only about A$1400/oz compared to A$1550 today. There is much to catch up. Some Paradigm gold stock recommendations from the2014 December Dawes Points are up over 100% (NST +117, EVN115%) with others up over 50% (SAR +95%, MLX +83% and DRM +78%).  The recent strong earnings reports from many of these companies and some with increased dividends can only get better in 2015 with a gold price A$150/oz higher. Blackham Resources is one company that has outstanding prospects from its Wiluna gold mining project that Paradigm considers will provide outstanding short and long term returns as the entire Wiluna Goldfield is revived.   With 4.7moz resources and a 1.3mtpa processing plant the project should have a long term future at gold production rates of over 100,000ozpa generating revenues of over A$150mpa. Most Paradigm account clients hold BLK and should do very well as long term investors. Risked milestones are provided to indicate an 18 month share price base target of A$0.90/share with potential of $1.57. If you don’t have BLK and don’t have account with Paradigm  you might be missing out!

Key Points

  • Engineering studies on mines and mill well advanced
  • Target of >80kozpa by mid 2016 then >100kozpa
  • Mill refurbishment  capital costs set at <A$16m
  • Mine development costs estimated at <A$10m
  • Total funding requirement is estimated at <A$26m
  • Cash flow positive five months after major funding drawdown
  • Initial resources base in excess of 4.7moz and growing
  • Additional potential of up to 3moz in near mine exploration

Summary

Blackham Resources’ 1.3mtpa Matilda Gold Project to produce 100-110,000ozpa is coming closer to fruition with progress made on the mill rehabilitation process and the finalising of ore sources from the current 4.7moz resource.   Exploration appraisals are also providing potentially significant new resources. Higher A$ gold prices and the fall in the cost of mining contractor equipment and fuel costs should give this project even more attractive margins. Paradigm has determined a Base Case Project NPV8at A$1,500/oz of A$173m   (A$0.90 /share fully diluted) and a Standard Case Project NP V8 at A$1,500/oz ofA$303m (A$1.57 /share fully diluted).  Risked milestones are provided to indicate an 18 month share price base target of A$0.90/share with potential of $1.57.

Download the BLK Report Now