BMR - Ballymore Resources

[System]

Ballymore Resources Limited (BMR) was incorporated on 12 April 2019 for the purpose of pursuing opportunities in the resources sector and build shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.

The Company holds the following projects as exclusive owner:

(a) Dittmer Project; and
(b) Ruddygore Project.

The Company also has the right to earn an 80% interest in the Ravenswood Project pursuant to the ActivEX Joint Venture and Option Agreement that includes an option to acquire a 100% interest in the Ravenswood Project.

The Dittmer Project is located inland from Proserpine and comprises two granted mining leases (MLs) and three exploration permits. The project area contains the historic, high-grade Dittmer mine, which was discovered in 1934 and historically mined for 54,500 ounces of gold at an average grade of 151 g/t, as well as copper (2.8%) and silver (66 g/t). The Dittmer Project area also contains numerous other shallow high grade historic workings which have yet to be properly tested with modern exploration techniques.

The Ruddygore Project is located near Chillagoe and includes a major copper-silver porphyry target at the Ruddygore mine, the Maniopota lead-zinccopper-gold-silver skarn deposit and the sediment hosted silver-lead-zinc Torpy’s mine works. These deposits sit within an extensive mineralised corridor containing the nearby Red Dome and Mungana mines.

The Ravenwood Project is located within the 17 Moz Charters Towers gold province and contains a number of old workings and breccia hosted gold targets including Seventy Mile Mount, Middle Mount, Matthews Pinnacle and Pinnacle Creek.

It is anticipated that BMR will list on the ASX during July 2021.

Ballymore Resources

Ballymore Resources (ASX:BMR) is focused on applying modern exploration methods and development techniques to its exciting gold, copper, silver and other base metals targets located within its highly prospective projects.

www.ballymoreresources.com

 

[System]

Ballymore Resources has assembled three project areas located in historic mining provinces in Queensland with granted permit areas totalling 1,355km2. Ballymore's projects either host historic gold and base metal mines or are located adjacent to significant historic mines. Typically, Ballymore's projects are also strategically located near existing processing infrastructure, which offers potential to reduce both the lead time and capital requirements associated with any future mining developments of the projects.

The Dittmer Project comprises two granted mining leases (MLs) and three exploration permits (EPMs) and contains the historic, high-grade Dittmer mine which was discovered in 1934 and produced a total of 54,500 oz of gold at an average grade of 151 g/t as well as copper averaging 2.8% and silver averaging 66 g/t through to 1951. The Dittmer Project also contains numerous other highgrade lodes mined to shallow depths which Ballymore intends to thoroughly test using modern exploration methods.

The Ruddygore Project contains numerous targets that were mined in the early 1900s but have not been subject to meaningful modern exploration since. These include a major copper-silver porphyry target at the Ruddygore mine, the Maniopota lead-zinc-copper-gold-silver skarn deposit and the sediment hosted silver-lead-zinc Torpy's mine. These deposits sit within an extensive mineralised corridor containing the nearby Red Dome and Mungana mines, with a combined pre-mine inventory of 3.2 Moz of gold.

The Ravenswood Project is located in the Charters Towers district and contains drill-ready targets within a historic 17 Moz gold province. These targets include Seventy Mile Mount, Middle Mount, Matthews Pinnacle and Pinnacle Creek which show geological similarities to the nearby Mount Leyshon (3.8 Moz Au) and Ravenswood/Mount Wright (5.8 Moz Au) mines.

A key strategic aspiration for Ballymore, should exploration work yield success, is to bring one or more of its prospective deposits into production, with the Dittmer mining complex currently being the most advanced.

It is anticipated that BMR will list on the ASX during August 2021.

Ballymore Resources

Ballymore Resources (ASX:BMR) is focused on applying modern exploration methods and development techniques to its exciting gold, copper, silver and other base metals targets located within its highly prospective projects.

www.ballymoreresources.com

 

[Dona Ferentes]

Listing date	06 August 2021 11:30AM AEST ##
Contact details	https://www.ballymoreresources.com/site/content/ Ph: +61 7 3212 6255
Principal Activities	Pursuing opportunities in the resources sector and building shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	BMR
Capital to be Raised	$11,000,000
Expected offer close date	11 June 2021
Underwriter	Not underwritten. Morgans Corporate Limited (Lead manager)

 

[Dona Ferentes]

IPO has hit the boards today.... and an unusual exercise in price discovery, in that there was solid buying all the way up from 25c start to 42c, for the first half hour, then volume dropped and it settled to 38c, only to have fresh interest come back to see a second run to 45c.

Someone wants to fill up? Early days, though.

 

[houtman]

BMR have some interesting projects.

They have what were high grade historic mines and are looking to find extensions.

Dittmar is progressing well, they have found the offset that the old timers couldn't find, historically Dittmar averaged 151g/tAu, 61.8g/t Ag, 2.8% Cu.

Other prospects include the old Mt Molloy mine.

They only have 2.4 qtrs of cash left as of end March.



- this is a presentation from a Qld presentation in March that gives a good overview. Unfortunately it requires an email address.

 

[finicky]

Picked up 20,000 of these today with a waiting bid @ 0.18.

Probably a folly, got a bit intrigued by the gold grade, historical aspect of the mine and discovery of the 'lost' offsetted lode. Also lots of fossicking diggings in the tenements.

Held

 

[Garpal Gumnut]

Picked up 20,000 of these today with a waiting bid @ 0.18.

Probably a folly, got a bit intrigued by the gold grade, historical aspect of the mine and discovery of the 'lost' offsetted lode. Also lots of fossicking diggings in the tenements.

Held

View attachment 178175

When I initially saw Ballymore I thought to myself it must be run by some Nudgee College misfits and knucklehead old boys.

Now that a luminary such as yeself @finicky is an investor I must have a look at it again.

gg

 

[divs4ever]

will add to my watch-list

am less enthusiastic than some , i prefer near 'first pour ' given i am in my later years

 

[Garpal Gumnut]

Dittmer was quite a live mine west of Bloomsbury and Proserpine from sometime around the 1880's up to the beginning of WW2.

In fact Mackay just south of Proserpine had a large Chinese population as a result of gold, some of whose descendants still live in the district. I guess with open cut these more marginal mines become attractive although some of those drill results are more than impressive. It is quite beautiful country and there is an impressive National Park nearby.

gg

 

[finicky]

I haven't looked into it as much as I should have but am looking for a double in the context of a rising gold price or more drill results. From there a selldown of half is the loose plan. There might be totally new finds in their tenements using modern technology as everything prior has historically been from following surface leads I imagine. There are a few big gold mines in the area too. As to management, on first pass they were one of the secondary reasons I bought a few as there's a bit of background for building mines + a mining engineer or two (preferable to geologists imo).
I've been sucked in by stories like this before though.

 

[houtman]

That they were able to raise $11m (19/12/23 announcement) of which the majority was from a royalty company is what has kept me onboard.

A royalty company has more idea than the average punter.

 

[finicky]

Going swimmingly. Another goldie spec bullseye by me. Look at the share volume that broke it - 32k shares.

Held
Holding

DAILY

 

[houtman]

September pick.

BMR recently began drilling at its Day Dawn prospect near Charters Towers, Day Dawn is a Silver/Gold prospect with rock chip samples up to 127.5g/t gold and 7100g/t silver.

They also have a drill program running at Ditmar which has had Wx delays.

There has been plenty of low volume days, <100k shares, over the last 2 months, so not much liquidity atm.

 

[finicky]

BMR closed up 25%! On just 187k volume.
The canny houtman.

Held
Trading stance

DAILY

 

[finicky]

Got a good vibe today from watching this preso, so put in a low-ball bid to give me a bit of interest in the market.
I tend to assume a nervous speaker is more honest and his enthusiasm for the subject comes across as authentic. Besides, gold and copper in proven ground.

Held
Might trade out the ones I impulsively bought at 18c if I get a chance.

 

[houtman]

Got a good vibe today from watching this preso, so put in a low-ball bid to give me a bit of interest in the market.
I tend to assume a nervous speaker is more honest and his enthusiasm for the subject comes across as authentic. Besides, gold and copper in proven ground.

Held
Might trade out the ones I impulsively bought at 18c if I get a chance.

Proven ground with minimum modern exploration got me in.

They could do with some positive news though, Friday was zero volume on a day when most goldies were up 5 -10%.

With no cap raising required for a while, brokers have no reason to pump it either.

Anyway, back to my whittling.

 

[finicky]

Inaugural RC drill program started at Cedar Ridge. Historical small scale mining didn't have the advantages of geochem or magnetics. Mining started in 1872 and concluded early 1930s. High grade gold associated with dolarite dyke. Dyke observable in pics.
Buying interest has perked up, doesn't look likely I'll get a fill @ 12c.

Held
Bid in

 

[finicky]

Ok, extended the area of Dittmer mineralisation, but slim pickings? Width and grade fading? Nice rock chip samples but that's low level. Not an announcement that galvanizes me anyway.

Held
Bid in

 

[houtman]

Ok, extended the area of Dittmer mineralisation, but slim pickings? Width and grade fading? Nice rock chip samples but that's low level. Not an announcement that galvanizes me anyway.

Held
Bid in

View attachment 184445

Agree, announcement had a -Never mind the drilling, check out our rock chip samples- feel to it.

I can't see this moving the price positively at all.

Plenty of work needed here yet.

Held

 

[houtman]

October pick

BMR hardly has a pulse atm, lots of low volume days.

Planned activities this month are -

- Receive further Dittmer surface drilling assay results (DittmerProject)

- Complete preliminary surface drilling program at Dittmer

- Receive Day Dawn drill assay results (Ravenswood Project)

Going to need some impressive results to kick start this one.