Stock Analysis

Both significant intercepts came from hole FLRC125 at the Clyde prospect. It returned 4 metres at 20.57 grams per tonne gold from 39 metres, including 1 metre at 73.33 g/t from 40 metres, and 8 metres at 9.23 g/t from 71 metres, including 1 …

Sandstone hosts a resource of 3.6 million ounces at 1.4 grams per tonne gold, and the two intrusion-hosted deposits account for about 1.8 million ounces, or roughly half of it. Finding another deposit of this style could therefore have a material effect on the …

The programme comprises three holes for about 1,650 metres. Two holes, of 650 and 550 metres, are planned at Wolverine and a third, of 450 metres, at the Copper Chief target. Neither area has been drill tested before.

Managing director Adrian Byass said the option structure allowed Cazaly 12 months to assess the projects relatively cheaply before fully committing. That captures the main appeal of the deal: exposure to a large land package with limited upfront risk.

Managing director Tony Greenaway said locking in mobilisation for the first week of November was a major step, coming within weeks of the company signing the Nova earn-in agreement.

Just over half the contained gold, 269,000 ounces, is classified as Indicated, from 2.99 million tonnes at 2.8 g/t. The remaining 253,000 ounces, from 3.16 million tonnes at 2.5 g/t, is Inferred, the lowest-confidence category. The estimate uses drilling results received up to 10 …

Of a planned 2,239 soil sampling points, 1,105 have been completed, including 466 at the Yarakoura project. The company has also established a regional field office at Yarakoura to support logistics and access across the portfolio.