Galena Mining CEO: De-risked, Fully Funded Silver and Lead Project in Australia

Galena Mining CEO Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program. 

After successfully completing the fully funded 2020 Abra drilling program, Galena Mining (ASX:G1A) CEO and Managing Director Alexander Molyneux is confident that the company has more than one reason to welcome investors to the next phase of the program.

“The program was successful in terms of infill drilling,” Molyneux said. “We can say that 75 percent of the 57 holes either met or exceeded expectations compared to the previous resource model. I think that’s pretty positive. In terms of targeting metal-rich zones, we had two zones where we found extremely good cumulative grade and thickness of lead-silver.”

The Abra base metals project is a globally significant lead-silver project located in the Gascoyne region of Western Australia. It is fully permitted and construction work has already begun.

“We are 15 months away from the first production. Once we’re producing at a steady state, we have a projection to make AU$114 million a year,” Molyneux said. “And when a company has already eliminated the funding risks, it’s an exciting time for investors to join the story.”

Watch the full interview with Galena Mining CEO and Managing Director Alexander Molyneux above.

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Gold in Victoria

Though it represents a fraction of Australian output, Victoria is notable for a re-emerging gold development community.

The Australian state of Victoria has a long history with gold, with the precious metal having been discovered mere months after the colony was created in the mid-1800s.

Since then, gold has been a foundation of Victorian identity. Many of the grand buildings in the capital city of Melbourne, along with the former boomtowns of the central goldfields, were funded by the vast wealth that was mined in the small Australian state.

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Galaxy Resources Limited Announcement

Galaxy Resources Limited advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform : Appendix 2A The announcement can be viewed at: SOURCE Galaxy Resources Limited View original content

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Appendix 2A

The announcement can be viewed at:

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Rare Earth Elements Demand is Still Growing

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the …

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the sand. Neodymium and praseodymium (NdPr) represent about 80% of the value of REE concentrate. Demand for these elements is growing because of their use in electric vehicles, wind turbines, and appliances. Adams Intelligence expects the demand for NdPr to double in the next five years. Removing REEs from monazite and then separating REEs into individual components is a complicated process. Read More >>

News Provided by Channelchek via QuoteMedia

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