Sibanye-Stillwater To Invest US$490 Million To Advance ioneer’s Rhyolite Ridge To Production

Ioneer Ltd is pleased to announce that the Company has reached an agreement to establish a joint venture with Sibanye Stillwater Limited to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA . Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer …

Ioneer Ltd (“ioneer” or the “Company”) (ASX: INR) is pleased to announce that the Company has reached an agreement to establish a joint venture (the ” Joint Venture “) with Sibanye Stillwater Limited ( “Sibanye-Stillwater” ) to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA (the “Project” ). Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer has also agreed to provide Sibanye-Stillwater with an option to participate in 50% of the North Basin 1 upon the election of Sibanye-Stillwater to contribute up to an additional US$50 million subject to certain terms and conditions.

In addition, the Company has entered into a subscription agreement with Sibanye-Stillwater for a strategic placement of US$70 million of ioneer ordinary shares (the ” Sibanye-Stillwater Placement” ). The placement shares will be issued to Sibanye-Stillwater at ioneer’s 10 day VWAP as of ASX market close on 15 September 2021. The Sibanye-Stillwater Placement is subject to shareholder approval at an Extraordinary General Meeting (” EGM “) of the Company’s shareholders to be held on 21 October 2021 .

Transaction Highlights

  • Transformational strategic investment underpins the quality of Rhyolite Ridge and ioneer’s future as a major lithium and boron producer in the US
  • Sibanye-Stillwater is a US$10 billion global mining company 2 , with a proven track record in large-scale mining projects, and has committed to become an important player in the battery materials supply chain
  • Formation of a joint venture operating committee comprised of ioneer and Sibanye-Stillwater representatives will leverage the deep skillsets of both partners to help deliver the Project
  • Sibanye-Stillwater and ioneer will work collaboratively to secure debt financing for the Project on acceptable terms to ensure the Project is appropriately fully financed to production
  • Proceeds from the Sibanye-Stillwater Placement will be used towards ioneer’s development capital requirement, medium term working capital needs and to progress long-lead items to minimise time to production

James Calaway , Executive Chairman of ioneer commented:

“We are extremely pleased to welcome Sibanye-Stillwater, a leading international mining company, as a strategic partner in the Rhyolite Ridge Project. Sibanye-Stillwater, with its proven track record of developing and operating major mining projects including operations in the United States , its commitment to developing and maintaining an inclusive and sustainable culture, and its determination to become a major force in the battery materials supply chain, is an excellent partner for ioneer to jointly realize the promise of Rhyolite Ridge. With a strong strategic partner in place, we can now look to finalise the debt financing for the Project and move towards construction. We are confident in the alignment of our companies. Our partnership with Sibanye-Stillwater will allow ioneer to unlock the tremendous, long- term value of Rhyolite Ridge.”

Neal Froneman , CEO of Sibanye-Stillwater commented:

“This is Sibanye-Stillwater’s second lithium transaction and third transaction in the battery metals sector, which will be essential for the transition to a cleaner future. We are excited to build a long-term relationship with ioneer, who share our vision of facilitating security of lithium supply to the North American markets. Rhyolite Ridge is a world-class lithium project and we recognize its strategic value, with the potential to become the largest lithium mine in the US. We look forward to working collaboratively with the ioneer team and leveraging our complementary skills and capabilities to ensure this strategically important, world-class project is delivered, and materially contributes to reducing climate change.”

Transaction Details

The key terms of the transaction are summarised below:

  • ioneer will contribute the Project for a 50% interest in the newly created joint venture limited liability company (” JVCo “) and Sibanye-Stillwater will provide US$490 million in direct funding to the Project for 50% of the ordinary units in JVCo
  • ioneer will be the operator of the Project, will enter into a management services agreement with JVCo and will be responsible for the development and subsequent operation of the Project
  • The companies will establish a Technical Committee which will meet regularly to oversee the operations of the Project and an ESG Committee which will collaborate on key initiatives given the importance of ESG to both parties
  • In addition, the companies have agreed to establish a Marketing Committee to leverage each company’s existing relationships to maximise the value of JVCo’s products
  • Establishment of the Joint Venture and Sibanye-Stillwater’s funding commitment is subject to certain terms and conditions precedent, including receipt of final permits, commitments for remaining debt financing, and other customary approvals. ioneer anticipates these conditions precedent to be satisfied during the during second half of calendar year 2022
  • The JVCo transaction is not subject to shareholder approval and is not conditional on ioneer shareholders approving the placement of shares to Sibanye-Stillwater under the Sibanye-Stillwater Placement

Sibanye-Stillwater Placement Details

Under the terms of the Sibanye-Stillwater Placement, Sibanye-Stillwater will subscribe for 145.9 million ordinary shares of ioneer at a price of A$0 .655 (representing the 10-day VWAP as of ASX close on 15 September 2021 ). The issue of shares under the Sibanye-Stillwater Placement would exceed the Company’s existing placement capacity under ASX Listing Rule 7.1 and therefore ioneer will be required to hold an EGM to approve the issue of the shares to Sibanye-Stillwater. The EGM is expected to take place on 21 October 2021 with further details on the EGM to be included in the Notice of EGM that will be despatched to shareholders and published on ASX in the coming days.

The directors unanimously recommend that shareholders at the EGM vote in favour of the issue of shares to Sibanye-Stillwater, and intend to vote the ioneer shares they own and control, or to which the director is appointed as proxy, in favour of such a resolution.

Transaction Advisers

ioneer’s financial adviser is Goldman Sachs, and its legal advisers are Vinson & Elkins ( United States ) and Ashurst ( Australia ).

Sibanye-Stillwater’s financial adviser is Macquarie Capital, and its legal adviser is Davis Polk & Wardwell LLP ( United States ).

About Sibanye-Stillwater

Sibanye-Stillwater is listed on the Johannesburg Stock Exchange and New York Stock Exchange (JSE:SSW and NYSE:SBSW) and has a market capitalisation of US$10 billion . Sibanye-Stillwater is one of the world’s largest primary producers of platinum, palladium and rhodium and is also a top tier gold producer, ranking third globally on a gold-equivalent basis. It also produces other PGMs, such as iridium and ruthenium, and chrome, copper and nickel as by-products.

In the United States , Sibanye-Stillwater currently operates three integrated facilities in Montana : the Stillwater and East Boulder PGM mines (78% palladium and 22% platinum) and the Columbus Metallurgical Complex which smelts material mined to produce PGM-rich filter cake and recycles autocatalysts to recover PGMs.

Sibanye-Stillwater has continued to advance its global diversification strategy to encompass the battery metal space by investing in a Finnish lithium hydroxide project in February 2021 . With the acquisition of a 30% shareholding in Keliber Oy, Sibanye-Stillwater now has a substantial interest in the Keliber Lithium Project currently in development phase in the Kaustinen region of Finland . In July 2021 , Sibanye-Stillwater also announced it had entered into an exclusive put option agreement with French mining group Eramet SA for the acquisition of 100% of the Sandouville nickel hydrometallurgical processing facility in Normandy, France . Together with the ioneer Placement, the Rhyolite Ridge Joint Venture represents Sibanye-Stillwater’s third transaction in the battery materials sector following the Sandouville nickel and Keliber lithium transactions in 2021.

The Sibanye-Stillwater Group focusses on embedding and excelling at environmental, social and governance (ESG) matters. Their vision is to create superior value for all stakeholders through the mining of mineral resources. The sustainable management of their operations is integral to their ability to obtain and maintain their social license to operate and generate long-term value for all stakeholders, including employees, the communities where they operate, governments and shareholders.

About ioneer

ioneer Ltd is the 100% owner of the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA , the only known lithium-boron deposit in North America and one of only two known such deposits in the world. The Definitive Feasibility Study (DFS) completed in April 2020 confirmed Rhyolite Ridge as a world-class Lithium and Boron Project that is expected to become a globally significant, long-life, low-cost source of lithium and boron vital to a sustainable future.

This ASX release has been authorised by ioneer Managing Director Bernard Rowe .

Contacts:

James Calaway

Bernard Rowe

ioneer Ltd

ioneer Ltd

Executive Chairman

Managing Director

T: +1 713 818 1457

T: +61 419 447 280

jcalaway@ioneer.com

browe@ioneer.com

Matt Dempsey

Jane Munday

FTI Consulting

FTI Consulting

Investor & Media Relations (USA)

Investor & Media Relations (Australia)

T: +1 202 316 9609

T: +61 488 400 248

matt.dempsey@fticonsulting.com

jane.munday@fticonsulting.com

Important notice and disclaimer

Forward-looking statements

This announcement contains certain forward looking statements and comments about future events, including ioneer’s expectations about the Project and the performance of its businesses. Forward looking statements can generally be identified by the use of forward looking words such as ‘expect’, ‘anticipate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’, ‘estimate’, ‘target’ and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance on, future earnings or financial position or performance are also forward looking statements.

Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward looking statements will not be achieved. Forward looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance. Forward looking statements involve known and unknown risks, uncertainty and other factors which can cause ioneer’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements and many of these factors are outside the control of ioneer. As such, undue reliance should not be placed on any forward looking statement. Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward looking statements, forecast financial information or other forecast. Nothing contained in this announcement nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of ioneer.

Except as required by law or the ASX Listing Rules, ioneer assumes no obligation to provide any additional or updated information or to update any forward looking statements, whether as a result of new information, future events or results, or otherwise.

1 The North Basin is contiguous with ioneer claims in the area but separate from the Rhyolite Ridge Project in the South Basin. The North Basin was not included in the DFS given its different geological setting and early stage exploration status.
2 Market capitalisation as at 14 September 2021

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/sibanye-stillwater-to-invest-us490-million-to-advance-ioneers-rhyolite-ridge-to-production-301378240.html

SOURCE ioneer

News Provided by PR Newswire via QuoteMedia

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Global News
Lake Resources CEO Stephen Promnitz: Scaling Lithium Supply with $150 Million Series B Funding

Lake Resources Managing Director Stephen Promnitz

Lake Resources (ASX:LKE,OTCQB:LLKKF) Managing Director Stephen Promnitz says Lake Resources has secured robust financing to scale up lithium production in preparation for the electric vehicle revolution.

Lake Resources has recently established a technology and funding partnership with Lilac Solutions, and the latter has announced $150 Million Series B to scale lithium supply for the electric vehicle era.

Lake Resources: Scaling Lithium Supply with $150 Million Series B Funding www.youtube.com

"Lilac Solutions are actually going to work with us and progressively earn into our flagship Kachi project, and then provide $50 million towards the development of that project. So come the end of October, we should have somewhere around $70 to $80 million in the bank, plus this $50 million commitment from Lilac going forward. And then if we have some additional $75 million options in June next year. Essentially, we can now see a pathway to the entire project being financed," Promnitz said.

Lake Resources and Lilac Solutions signed a partnership agreement wherein Lilac is able to achieve an equity stake in the Kachi project with project funding obligations while providing its leading technology to advance the project.

"There's a real deal here, and now value opportunity. But on top of that, we've de-risked it from the debt side and from the equity side. This project is going to happen, and not only that, we're going to be scaling it up to 50,000 tonnes per annum soon after we get into production. That will make us one of the top five producers in the lithium space."

Watch the full interview of Lake Resources Managing Director Stephen Promnitz above.

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European Lithium Executive Chairman Tony Sage

European Lithium Executive Chairman Tony Sage said, “There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe youtu.be


European Lithium (ASX:EUR,FWB:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg project in Austria, a country with a rich mining history dating back to WWII that maintains its infrastructure.

Wolfsburg continues that tradition, positioned only 45 kilometres from the city that hosts the largest Samsung battery factory.

"It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage," Sage said. "This mine was built back in the '80s by the Austrian government. So all the work has been done. If we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the licence is in perpetuity.


“We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1,500 tonnes, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tonnes of the material through the pilot plant, which gave us the results that we were looking for in that it's high-grade product.”

Sage also discussed European Lithium’s goals with the project. “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas.”

Sage told the Investing News Network that the government is supportive of its endeavours. “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”

The mine itself is underground. “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the orebody and then take the ore out," Sage said.

“We completed a prefeasibility study in 2018. The cost structure then was about US$7,500 per tonne to produce the hydroxide. Right now, the hydroxide price is around US$69,000 a tonne — that’s a massive profit margin that we don’t see as sustainable long term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone.”

Watch the full interview of European Lithium Executive Chairman Tony Sage above.

Disclaimer: This interview is sponsored by European Lithium (ASX:EUR,FWB:PF8). This interview provides information that was sourced by the Investing News Network (INN) and approved by European Lithium in order to help investors learn more about the company. European Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with European Lithium and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

EUR:AU

Galaxy Resources Limited advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform : Merger of Galaxy and Orocobre Implemented 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):

  • Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

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business people stacking wooden blocks

Australian lithium miners continued to move ahead with their projects during the year's third financial quarter.

After hitting all-time highs in 2021, lithium prices started to stabilise in 2022's first quarter.

China’s lockdown measures to battle COVID-19 have disrupted the supply chain and impacted domestic demand in recent weeks, but this is expected to be temporary, according to William Adams of Fastmarkets.

“The lithium market is very tight. We don't see that easing anytime soon,” he said during a recent webinar about risks in the battery metals market. “We think the underlying fundamentals and the trends are still very strong.”


During the third quarter of the financial year, Australian lithium miners continued to move ahead with their projects, and despite the increased volatility in the markets, many ASX lithium stocks saw share price gains as well.

Perth-based Pilbara Minerals' (ASX:PLS,OTC Pink:PILBF) production for the quarter was 81,431 dry metric tonnes (dmt), slightly down compared to the previous three months, but within guidance. The company said the main factor impacting output was higher COVID-19 cases, which resulted in staff and contractor shortages.

“COVID-19 has (and may continue in the near term) to cause operational delays, including staffing shortages for both shut-down and operating staff (mining and processing),” the company said in a statement. Even so, Pilbara has decided to maintain its production guidance in the range of 340,000 to 380,000 dmt.

During its fourth battery material exchange auction, the company saw the highest bid ever at US$5,650 per dmt for a cargo of 5,000 dmt of spodumene, showing the critical shortage in lithium raw material supply.

Western Australia-focused Pilbara, which owns the lithium-tantalum Pilgangoora operation, has partnerships with Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460), General Lithium, Great Wall Motor Company (OTC Pink:GWLLF,HKEX:2333), POSCO (NYSE:PKX), CATL (SZSE:300750) and Yibin Tianyi.

Shares of Pilbara were trading at AU$2.53 on May 10, down 28.13 percent year-to-date, but up more than 100 percent compared to this time last year.

For its part, leading Australian lithium and iron ore miner Mineral Resources (ASX:MIN,OTC Pink:MALRF) saw its Mount Marion mine’s production reach 104,000 dmt during the quarter; it also shipped 94,000 dmt of spodumene concentrate. The company is maintaining its full-year production guidance at 450,000 to 475,000 dmt.

In April, Mineral Resources and partner Ganfeng agreed to optimise production and upgrade Mount Marion's processing facilities. Spodumene concentrate capacity at the operation is expected to increase from 450,000 dmt per year to 600,000 dmt annually.

“The decision to upgrade the plant reflects an expectation that the lithium market outlook will remain extremely strong for the foreseeable future,” the company said in a press release. A second stage increase, expected to be completed by the end of 2022, will see capacity rise further to reach 900,000 dmt.

Aside from Mount Marion, the company holds interests in Wodgina in partnership with another top producer — Albemarle (NYSE:ALB). The companies decided to restart Wodgina last year as a result of soaring global lithium demand. The mine produced its first spodumene concentrate on May 12.

“(We have) also agreed to review the state of the global lithium market towards the end of this calendar year to assess timing for the start-up of Train 3 and the possible construction of Train 4,” the company said. Each train has a nameplate capacity of 250,000 dmt of 6 percent product.

Mineral Resources’ share price was down 10.71 percent on May 10, trading at AU$52.71. That said, the stock is up 9.11 percent year-on-year.

During the March quarter, Argentina-focused Allkem (ASX:AKE,OTC Pink:OROCF) outlined its plans to increase lithium production threefold by 2026 and become a top three chemicals supplier.

In Western Australia, the company owns the Mount Cattlin mine, which produced 48,562 dmt of spodumene concentrate and shipped 66,011 tonnes in the March quarter.

“Strong conditions in the spodumene market are supporting advanced discussions for spodumene concentrate pricing in the June quarter of approximately US$5,000 per dmt SC6 percent CIF on sales of approximately 50,000 tonnes,” the company told investors in a note.

In Argentina, Allkem operates the Salar de Olaroz and is developing the Sal de Vida lithium brine. Additionally, in partnership with Toyota Tsusho (TSE:8015), Allkem is building a 10,000 tonne per year lithium hydroxide plant in Naraha, Japan. The company also owns the James Bay lithium pegmatite project in Canada.

On May 10, shares of Allkem were changing hands for AU$10.95, down 2.23 percent year-to-date, but up over 55 percent year-on-year.

Although its main focus is nickel, Independence Group (ASX:IGO) joined the lithium party last year after it bought a stake in Tianqi Lithium’s Australian assets. The companies, in joint venture, now control the majority of the biggest lithium mine in the world — Greenbushes.

Production at the mine was up 5 percent quarter-on-quarter at 270,464 tonnes of spodumene concentrate. By 2025, Greenbushes is expected to add around 800,000 tonnes per year to its output capacity.

IGO has seen its share price decline 4.63 percent year-to-date, trading at AU$11.34 on May 11. However, the stock is up 47.27 year-on-year.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Orocobre Limited is pleased to advise that the scheme of arrangement in relation to the merger of Orocobre and Galaxy Resources has been implemented today. Scheme Consideration In accordance with the Scheme, all Galaxy shares have now been transferred to Orocobre and eligible Galaxy shareholders have been issued the Scheme consideration of 0.569 Orocobre shares for each Galaxy share held on the Scheme record date. …

Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”) is pleased to advise that the scheme of arrangement ( Scheme ) in relation to the merger of Orocobre and Galaxy Resources ( Galaxy ), has been implemented today.

Scheme Consideration

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Critical Resources
A Further 17.5 Metres of Visual Spodumene-Bearing Pegmatite Intersected at Mavis Lake in Step-Out Hole 14
A Further 17.5 Metres of Visual Spodumene-Bearing Pegmatite Intersected at Mavis Lake in Step-Out Hole 14

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”) is pleased to advise that it has received assay results from its 8th and 9th drill holes at its 100% owned Gibsons prospect. Diamond drill holes CRR21DD_02A (“Hole 02A”) and CRR21DD_07A (“Hole 07A”) have intersected further zinc, lead, copper and silver bearing zones of sulphide mineralisation. Hole 02A and Hole 07A are step out holes that further demonstrates the increased potential of the mineralised extent of the Halls Peak system.


Highlights

Hole 02A

  • 6.37m @ 7.31% Zn, 0.89% Pb, 0.22% Cu, 10.33g/t Ag, 0.08g/t Au, from 72.65- 79.02m downhole
    • Including 2.01m @ 13.14% Zn, 1.82% Pb, 0.44% Cu, 17.20/t Ag, 0.09 g/t Au from 73.38-75.39m downhole
  • 5.3m @ 4.10% Zn, 1.78% Pb, 0.49% Cu, 25.17g/t Ag, 0.09g/t Au from 166.3- 171.6m downhole
    • Including 1.2m @ 9.4% Zn, 4.76% Pb, 1.29% Cu, 74.39g/t Ag, 0.16g/t Au from 170.4 – 171.6m downhole

Hole 07A

  • 34.3m @ 2.14% Zn, 0.83% Pb, 0.32% Cu, 7.02g/t Ag, 0.05g/t Au from 70.3-104.6m downhole
    • Including 3.35m @ 6.06% Zn, 2.06% Pb, 0.23% Cu, 7.86g/t Ag, 0.02g/t Au from 83.55–86.9m downhole and
    • 4.5m @ 9.22% Zn, 4.34% Pb, 0.98% Cu, 23.81g/t Ag, 0.08g/t Au from 98–102.5m downhole
  • Holes 02A and 07A are step-out holes in an area previously untested
  • Strong mineralisation at depth continues to expand the potential of the Halls Peak System
  • Cores from completed holes 02, 04, 14, 15 and 16 are currently being assayed at the ALS laboratory in Brisbane with results expected progressively
The Company is pleased to receive further assays from Hole 02A and Hole 07A at its 100% owned Halls Peak project in New South Wales. Results continue to demonstrate the scale potential of the Halls Peak system, particularly at depth and provides strong support for an expanded drill program.

Critical Resources Managing Director Alex Biggs said:

Further positive results confirm the growing potential of the Halls Peak system. As our drill program continues we are excited to see significant grades and intersections that provide increased confidence that Halls Peak could be a transformational asset for the Company. Our drill program is continuing and we look forward to starting drilling at our Sunnyside prospect which is approximately 1.5km along strike from our current drilling at the Gibsons prospect. This will add further growth potential to the Project”.

Summary of Key Polymetallic Intersections

Hole 02A

  • 6.37m @ 7.31% Zn, 0.89% Pb, 0.22% Cu, 10.33g/t Ag, 0.08g/t Au, from 72.65-79.02m downhole
    • Including 2.01m @ 13.14% Zn, 1.82% Pb, 0.44% Cu, 17.20/t Ag, 0.09 g/t Au from 73.38-75.39m downhole
  • 5.3m @ 4.10% Zn, 1.78% Pb, 0.49% Cu, 25.17g/t Ag, 0.09g/t Au from 166.3-171.6m downhole
    • Including 1.2m @ 9.4% Zn, 4.76% Pb, 1.29% Cu, 74.39g/t Ag, 0.16g/t Au from 170.4 – 171.6m downhole

Hole 07A

  • 34.3m @ 2.14% Zn, 0.83% Pb, 0.32% Cu, 7.02g/t Ag, 0.05g/t Au from 70.3-104.6m downhole
    • Including 3.35m @ 6.06% Zn, 2.06% Pb, 0.23% Cu, 7.86g/t Ag, 0.02g/t Au from 83.55–86.9m downhole and
    • 4.5m @ 9.22% Zn, 4.34% Pb, 0.98% Cu, 23.81g/t Ag, 0.08g/t Au from 98–102.5m downhole


Click here for the full ASX Release

This article includes content from Critical Resources (ASX:CRR), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CRR:AU
physical coin representing bitcoin

A Canadian fund provider is debuting a version of its popular bitcoin ETF in Australia. Is now the best time for this launch?

Australian investors are getting a new way to invest in the volatile bitcoin space thanks to a deal between an asset management company and a Canadian fund provider.

On May 12, Canadian fund maker Purpose Investments launched a version of its bitcoin exchange-traded fund (ETF) in the Australian market by way of a partnership with Cosmos Asset Management, which is owned in part by the Australian division of Mawson Infrastructure Group (NASDAQ:MIGI).

The fund, called the Cosmos-Purpose Bitcoin Access ETF (CXA:CBTC), is listed on the Cboe Australia exchange, and holds units of the Toronto-based Purpose Bitcoin ETF (TSX:BTCC).


“We have brought together a team of global experts to offer Australian investors access to a truly high-quality product,” Dan Annan, Cosmos Asset Management CEO, said in a statement to investors.

ETF maker pursues rising international interest in cryptocurrencies

In an interview with the Investing News Network (INN), Vlad Tasevski, chief operating officer and head of product at Purpose Investments, said the firm has been actively pursuing ways to offer its crypto funds internationally.

The executive said there has been widespread interest in BTCC since its launch back in February of last year.

As the firm began evaluating how to approach this demand, the company considered setting up shop in the Australian market, Tasevski said. However, eventually the Canadian fund provider went with the partnership route.

Tasevski called Australia “the next logical jurisdiction" for the firm as it expands with its crypto funds.

When asked what makes Australia so attractive for the expansion of BTCC, the executive said it has a similar market structure to Canada, and credited securities regulators in the nation for being more comfortable with cryptocurrency listings than other jurisdictions.

Purpose has strong long-term outlook for digital assets

Although crypto assets are facing a serious ongoing downturn in value that has created significant losses, Tasevski told INN that Purpose Investments is undeterred in its long-term crypto outlook.

“The amount of capital and the amount of people involved in the space has never been higher,” Tasevski said.

The executive said he views his company's offerings as very flexible for investors. “We'll be here for (investors) to actually give them the ability to very easily access it whenever they feel it is appropriate for them,” he said.

Tasevski added that he views the current downturn for bitcoin as “one of the best entry opportunities in the last year and a half.”

​As bitcoin struggles, ETF firm celebrates structural victory

Purpose Investments has suggested to investors that accessing the bitcoin market through its funds is a safer route than going it alone, especially given the current period of remarkable losses.

According to Tasevski, the firm's products offer liquidity to investors and provide a measured approach for people who want exposure in this segment.

“We have been very clear that this is a volatile asset class,” he told INN. “And investors should kind of understand the level of volatility that they will be taking on.”

The investment executive said the infrastructure security provided by the rules ETFs must follow has been a boon as the crypto space faces major volatility.

Even so, BTCC has been rocked in 2022 based on the performance of bitcoin. Over a year-to-date period, the fund had gone down in value by over 35 percent as of the closing bell in Canada on May 11. In the past month alone, BTCC has dropped in value by over 20 percent.

Som Seif, founder and CEO of Purpose Investments, recently said crypto is a “core component” for the firm “when solving problems for (its) customers.”

​Investor takeaway

Digital assets have never been more easily available as tools for all types of investors.

While many experts remain confident in the long-term outlook for bitcoin and other cryptocurrencies, the considerable volatility prevailing in the market can make the space difficult for newcomers to stomach.

So far in 2022, bitcoin losses have highlighted the lack of stability in digital coins — but of course, as some have argued, these big moves can also provide entry points and opportunities for savvy investors.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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The gold price is trading lower than some market watchers would prefer, but the top-performing ASX gold stocks so far this year are making leaps.

Click here to read the previous best ASX gold stocks article.

While 2021 was a disappointing year for gold, analysts are optimistic about the outlook for 2022.

The yellow metal passed the US$2,000 per ounce mark as tensions between Russia and Ukraine heated up, but has since pulled back to trade closer to US$1,800. However, diverse factors could combine to push it higher.

Demand for gold jewellery, gold bars and coins, and the metal’s use in the technology sector are still going strong, and supply is also a growing concern due to decreased gold exploration efforts in recent years.


Against this backdrop, many Australian gold stocks are doing well. And with the precious metal generally considered a safe investment, it's worth being aware of the county's top-performing companies.

Here the Investing News Network looks at the best ASX gold stocks of the year so far by year-to-date gains. The list of stocks below was generated on April 29, 2022, using TradingView’s stock screener, and all companies included had market caps over AU$30 million at that time.

1. Xantippe Resources

Year-to-date gain: 180 percent; market cap: AU$107.3 million; current share price: AU$0.01

Xantippe Resources (ASX:XTC) is focused on Western Australia's Southern Cross region, which is widely known for its past gold production. The precious metals explorer's Southern Cross project is made up of 20 prospecting licences and six exploration licences, and holds a number of key priority targets.

In late April, Xantippe confirmed the acquisition of lithium tenements in Argentina with the hope of commencing exploration activities in the third quarter.

2. Minrex Resources

Year-to-date gain: 55.81 percent; market cap: AU$63.05 million; current share price: AU$0.07

Minrex Resources’ (ASX:MRR) assets include five gold and base metals projects in Western Australia, four of which are in the mineral-rich East Pilbara region.

The company started off the year with high-grade gold drill results from its work at the Queenslander gold prospect within its Sofala project. The prospect is centred around the past-producing Queenslander mine.

3. Aston Minerals

Year-to-date gain: 38.1 percent; market cap: AU$164.19 million; current share price: AU$0.15

Gold and nickel-cobalt explorer Aston Minerals (ASX:ASO) is moving forward at its Edleston gold project, located in the Cadillac-Larder Lake fault zone of Canada's Abitibi greenstone belt. Edleston is its flagship asset, and according to the company, it is the first in over a decade to drill in this area.

Aston continues to focus on gold at Edleston, but its Boomerang nickel-cobalt target has come to the forefront in recent months, with the company announcing the results of its maiden hole there in early December.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Marlee John, currently hold no direct investment interest in any company mentioned in this article.

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