ICL - Iceni Gold

[System]

Iceni Gold's key project is the 14 Mile Well Project, located in the Laverton region of Western Australia, within the Eastern Goldfields Superterrane (EGST) of the Yilgarn Craton in an area that has seen limited methodical exploration activities.

The Project comprises five (5) granted Exploration Licences, 155 granted Prospecting Licences and 1 granted Mining Lease. It also includes applications for a further six (6) Prospecting Licences, and three (3) Mining Leases (overlapping the area of existing granted Prospecting Licences).

Nearby gold mines include Granny Smith (approximately 50 km to the northeast), Wallaby, and Sunrise Dam (both approximately 20 km to the east) and Mount Morgans (approximately 15 km to the northeast).

Following a review of historic exploration undertaken at the Project and exploration undertaken by the Company, management has identified six initial targets for further assessment following the Company's listing, being the Claypan, North One, Deep Well, Danjo Northeast (NE), Everleigh Well and Guyer Well targets, on which it will undertake a targeted drilling campaign to test mineralisation identified to date.

It is anticipated that ICL will list on the ASX during April 2021.

Iceni Gold Limited

ICENI GOLD Is a Perth based exploration and development company exploring for gold in Western Australia.

www.icenigold.com.au

 

[Dona Ferentes]

Listing date	7 April 2021 #
Company contact details	Iceni Gold Limited ICENI GOLD Is a Perth based exploration and development company exploring for gold in Western Australia. www.icenigold.com.au Ph: +61 8 6458 4200
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	ICL
Capital to be Raised	$20,000,000
Expected offer close date	7 April 2021
Underwriter	Morgans Corporate Limited (Underwriter)

 

[noirua]

Iceni Gold (ASX:ICL) confirms significant anomalous gold intersections at Everleigh Well, WA

Iceni Gold (ASX:ICL) has received all its gold assays from the hole FMDD003 of the Everleigh Well, west of Lake Carey in Western Australia.

themarketherald.com.au

Iceni Gold (ICL) has received all its gold assays from hole FMDD0032 drilled at the Everleigh Well in Western Australia.

The company confirmed that the assays showed gold mineralisation at the well, which was re-entered and extended due to the intensity of alteration and veining that was observed downhole.

 

[The Triangle]

A few photos of 2oz worth of gold nuggets and everyone loses their heads... Iceni is up about 150% in two days from what looks to me like photograph of a week or two of prospecting nuggets from a retired couple. I would not call this a significant discovery. But hey, whatever makes you money I suppose. So the questions I have is who recovered the nuggets? Over what period were the nuggets recovered, days, weeks, months? were the nuggets discovered within an area of 1m2, 100m2, 1,000m2? 10,000m2? Saying you recovered nuggets 'near' a diamond drillhole is meaningless. Perth is 'near' Singapore if you're talking to someone in Chicago.

I'm a little confused about the 23,000m of aircore assays being imminent. I thought most assays from drilling they had received already and I'm not exactly sure if they have drilled 23,000m more (which if they have is good) or if they are just waiting on the assays from the final holes of the last round of drilling. Anyways I'm sure I could figure it out if I went digging through a dozen announcements but the fact that it's not clear in this announcement is annoying.

I'm skeptical but at least we've got a junior here actually drilling holes as well as kicking up rocks.

Spent

 

[noirua]

Iceni Gold (ASX:ICL) flags "positive" aircore results following gold nugget find at 14 Mile Well

Junior explorer Iceni Gold (ASX:ICL) has flagged "positive" aircore drilling results from the Guyer North target within its 14 Mile Well project near Laverton in Western Australia.

themarketherald.com.au

Junior explorer Iceni Gold (ICL) has flagged “positive” aircore drilling results from the Guyer North target within its 14 Mile Well project near Laverton in Western Australia.

The company said assays from the aircore drilling highlighted a cluster of gold-anomalous holes that correlated with the eastern contact of the Danjo Granite in the area.

Live price chart: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^ICL&p=5&t=1

 

[Dona Ferentes]

a modest 286 per cent gain by the end of trading.

.

.
Commenting on the sampling results, Managing Director Wade Johnson said:
“The shallow excavation and sampling activities at Christmas Gift exposing the rich gold bearing quartz veinlets within the shear zone is an exciting development for the Company. The additional fieldwork has improved our knowledge of the host structure, that has advanced our understanding to further explore the Christmas Gift structure, but also provides a geological model that we can apply elsewhere in the Everleigh Well area. The strike length of the structure is open, drill sites have been prepared and we are looking forward to commencing drilling shortly to evaluate the down dip extent of the structure and rapidly advance this priority target”.

 

[Dona Ferentes]

no surprises here

The trading halt is for the purposes of considering, planning and executing a capital raising.

It is expected that the trading halt will last until the Company makes the Announcement or Monday, 13 May 2024, whichever is earlier.

 

[Powerup]

no surprises here

The trading halt is for the purposes of considering, planning and executing a capital raising.

It is expected that the trading halt will last until the Company makes the Announcement or Monday, 13 May 2024, whichever is earlier.

How does capital raising affect the share price?

 

[finicky]

How does capital raising affect the share price?

A capital raising is usually struck well below the current share price. Some shareholders who expect to be eligible to subscribe for the new shares will sell some of their already held shares expecting to profit by replacing them in the raising. There will be others who sell shares because they anticipate that the raising will depress the price.

 

[Powerup]

A capital raising is usually struck well below the current share price. Some shareholders who expect to be eligible to subscribe for the new shares will sell some of their already held shares expecting to profit by replacing them in the raising. There will be others who sell shares because they anticipate that the raising will depress the price.

I'm interested to see how this works out, I guess I will see what happens between now and Monday.

 

[Dona Ferentes]

I'm interested to see how this works out, I guess I will see what happens between now and Monday.

depends how much capital they want , and for what purpose. Lots of factors in play, but the discount is likely to be > 10 per cent, possibly closer to 20.

Think of it this way; if they're going for, say, 1 new share for every 10 existing, that's a big influx of new capital. Essentially, and especially for minnow explorers or start-ups, the new money is where the SP will drift (down) to.

 

[Powerup]

depends how much capital they want , and for what purpose. Lots of factors in play, but the discount is likely to be > 10 per cent, possibly closer to 20.

Think of it this way; if they're going for, say, 1 new share for every 10 existing, that's a big influx of new capital. Essentially, and especially for minnow explorers or start-ups, the new money is where the SP will drift (down) to.

Ok In my simple understanding of the situation, if someone had purchased their shares just before the trading halt and the SP went up to 10-20% gain. After the Capital raising their increased gains could be reduced back to 0%.

 

[Dona Ferentes]

wait and see

 

[finicky]

After the Capital raising their gains could be reduced back to 0%.

Could easily happen. Depends on how popular the company is. If there's a lot of interest in the company there might not be much impact on the share price. A drift down is the norm.