AUL - AuStar Gold

[springhill]

MNM announces that a Joint Venture Agreement and a Technology Licence Deed have been executed with Exergen Pty Ltd
http://www.asx.com.au/asxpdf/20120702/pdf/42751s9938rk2b.pdf

Highlights:
● The JVA provides for 50% ownership of exploration tenement EL 5294 to transfer to Exergen in exchange for a payment of 50% of Mantle’s prior costs in confirming a JORC Inferred Resource Base level, (which equates to a payment of $500,000), plus the TLD. Both agreements are binding on the parties.
● Exergen will be fully responsible for the development of a demonstration project intended to confirm success of their patented Continuous Hydro-Thermal Dewatering (CHTD) technology at commercial scale.
● The CHTD commercial scale demonstration is anticipated to be a $50million+ project which, under the terms of the JVA, is to be completed within a maximum 2-4 year timeframe at a location yet to be confirmed. Should these timeframes not be met then Mantle has certain buyback rights on the project tenement.
● In parallel with the commercial scale CHTD demonstration by Exergen, Mantle and Exergen will share the costs of associated exploration on the tenements and pre-development activities on a 50/50 basis.
● The TLD is a single licence for Mantle for use at the Bacchus Marsh deposit only. Mantle retains ownership of the TLD for the economic life of the deposit irrelevant of whether the JVA terminates. Both the $500,000 payment and the TLD will be escrowed until the 50% tenement ownership is transferred to Exergen by the relevant Government Department.
● Exergen will assume management responsibility for the project once a JORC Inferred Resource base is announced. Mantle has recently completed a drilling program at Bacchus Marsh designed in accordance with the Principles and Guidelines of the JORC Code and expects to release a maiden JORC Inferred Resource Report within weeks.
● The JVA includes mechanisms typical in standard Farm-in and JVA arrangements as relates decision making under mining proposals. Any such proposal will be dealt with under separate agreements to be developed in due course.

Up a nice 37% today and was up more than 50% at one point.

 

[springhill]

Capital Facility


Mantle Mining Corporation Limited (ASX: MNM) “Mantle”, is pleased to announce the commencement of a Standby Subscription Agreement (SSA) with Fortrend Securities Pty Limited.

Highlights:
• Fortrend is an ASIC regulated, financial services provider specializing in the provision of equity capital from North American based investors.
• The SSA makes available up to $10 million over a 3 year period. Funds can be drawn down at Mantle’s sole discretion within certain liquidity parameters.
• Pricing will be at a 10% discount to the prevailing market prices at the time of each drawdown notice.
• There are no restrictions or conditions in the agreement on any other capital raising exercises that Mantle may wish to undertake.

QLD Gold Projects
The Granite Castle Project area contains a JORC Compliant (Measured, Indicated and Inferred) gold and silver Resource1. Mineralisation occurs in a 600m long portion of a single shear. Over 14km of additional shears have been located, many with drill holes and/or rock chip samples at similar grades to the JORC Compliant shear. The Charters Towers Project area contains the Great Britain JORC Compliant Inferred gold Resource2 as well as a
number of historic mines, including Day Dawn West, immediately west along strike of Citigold’s (ASX: CTO) proposed “City” mining area. The Gromac/Puzzler area is prospective for deposits of copper, gold, silver and molybdenum.

VIC Gold Projects
The Haunted Stream Project area is prospective for gold and copper including many historical, high-grade, gold mines along the Haunted Stream fault corridor. Deep drilling at centrally located Anomaly 4, a major target for possible deep vein gold or porphyry copper-gold mineralisation, intersected multiple shear zones with visible base metals.

NSW Gold Projects
The Ashford Project area is prospective for precious and base metals and a number of other minerals. The company has been granted three tenements for an initial three year period and is currently undertaking a detailed study of historical mining activity and regional prospectivity. The area represents Mantle’s first work in NSW, a state where the company believes future access for exploration will be expanded.

QLD Coal Projects
The Trafford Project area contains a large Exploration Target3 of black coal. Mantle is negotiating with the traditional custodians of Mt Mulligan towards an Indigenous Land Use Agreement (ILUA). The Texas Project area is prospective for thermal and coking coals of similar quality to Surat and Bowen Basin coals. The tenements are along strike from known coking coal deposits and thermal coal drill intercepts located to the south and north.

VIC Coal Projects
The Bacchus Marsh Project area contains a large Exploration Target4 of brown coal surrounding the Maddingley mine. Mantle has executed a JVA with Exergen Pty Ltd to develop the deposit utilising Exergen’s patented Continuous Hydro-Thermal Dewatering (CHTD) technology. Exergen’s partners include Tata Power, Itochu, Thiess and Sedgman. The Latrobe Valley Project area is prospective for both black and brown coal deposits
including many historical mines within the Gippsland Basin. The tenements immediately abut the main Latrobe Valley depression. There is a high level of prospectivity that the historic Wonthaggi Black coal seams exist at depth within the project area.

NT Phosphate Project
The Barkly Project area sits in the Georgina Basin between Minemaker’s (ASX: MAK) Wonarah deposit and Phosphate Australia’s (ASX: POZ) Highland Plains deposit. Historic phosphate rock intercepts exist within the tenements and Mantle has undertaken a series of annual drilling programs to more closely define the potential for covered deposits.

 

[springhill]

MNM request a trading halt be placed on the Company’s securities pending the release of an announcement in relation to the Trafford (Mt Mulligan) Coal & Gas Project.
The Company requests the securities remain in pre-open until the earlier of an announcement in relation to the project or the commencement of trade on 20 July 2012.

They may have agreed to terms on the ILUA.

 

[springhill]

Mt Mulligan ILUA Authorised

An Ancillary Agreement (AA) and a Cultural Heritage Management Plan (CHMP) were also authorized for execution. Together, these three agreements provide for full protection of cultural heritage, mutual management decision making for exploration activity, and staged compensation, employment and training packages.


Exploration Permit for Coal (EPC) 772 remains a granted tenement pending renewal and a revised renewal application reflecting Mantle’s exploration plans is currently being prepared. Authority to Prospect for Petroleum (ATP) 718P remains an application pending registration of the ILUA.


The known coal deposit at Mt Mulligan exists under the mountain however this area is currently unavailable for exploration due to cultural heritage, environmental and sterile land constraints.


Mantle’s initial exploration targets are potential extensions of the known coal deposit - outside of the Government designated sterile land currently covering the Mt Mulligan mesa, and a buffer zone agreed with the Djungan as part of the ILUA negotiations. The intention at this point is to evaluate the potential for coal and gas deposits that may exist within the licence area, but outside the constrained area.


The company has also commenced discussions with the relevant pastoral station holders in order to reach an access agreement for initial low impact exploration activity. It is expected that initial exploration will be able to commence immediately on conclusion of all agreement documentation and receipt of necessary approvals.


Mantle wishes to take this opportunity to thank the Djungan People for their positive approach during the negotiations. The three agreements embed principles considered paramount to the development of mutual respect, trust and effective decision making and Mantle is looking forward to working together with the Djungan People towards a mutually beneficial and rewarding relationship.

 

[burglar]

Mantle Reports Maiden JORC Resource

1.6 Billlion tonnes inferred At Bacchus Marsh Project (Brown Coal)

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01323006

 

[Garpal Gumnut]

What's the go with Mnm.

I have it in the comp.

gg

 

[System]

On December 18th, 2017, Mantle Mining Corporation Limited (MNM) changed its name and ASX code to Austar Gold Limited (AUL).

 

[System]

On August 25th, 2021, AuStar Gold Limited (AUL) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between AUL and its shareholders in connection with the acquisition of all the issued shares and quoted options in AUL by White Rock Minerals Ltd.