MEK - Meeka Metals

[System]

Integrated Resources Group Limited (IRG), formerly Integrated Investment Group (IIG), is an Australian listed mining and exploration company with its focus on the Lyndon tenement in Western Australia.

http://www.integratedresources.com.au

 

[System]

On December 16th, 2014, Integrated Resources Group Limited (IRG) changed its name and ASX code to Latitude Consolidated Limited (LCD).

 

[greggles]

No posts in 11 years other than a name change. Must be time for a quick update then.

LCD purchased the high grade Andy Well and Gnaweeda Gold Project (776,000 ounce) from Silver Lake Resources for $10 per resource ounce ($8m) in February 2021.

The company also owns the Murchison Gold Project which contains the Turnberry deposit, which was upgraded today to 3.1Mt @ 2.6.g/t Au for 1,115,000 ounces, an increase of 125%. Turnberry has a current strike length of 1.5km and remains open to the north, south and at depth. It averages 1,850 ounces per vertical metre from surface to a depth of 200m where the density of drilling reduces significantly.

With the gold price soaring, LCD looks overlooked and undervalued given its assets and potential. Market cap is currently ~$47 million.

Nice gap up today following this morning's announcement.

 

[System]

On December 1st, 2021, Latitude Consolidated Limited (LCD) changed its name and ASX code to Meeka Gold Limited (MEK).

 

[System]

On July 20th, 2022, Meeka Gold Limited changed its name to Meeka Metals Limited.

 

[Dona Ferentes]

Discovery of Clay Hosted Rare Earth Mineralisation at Circle Valley

• Clay horizon blankets a large portion of the tenure (83km2)
• High value magnet rare earths are a high percentage of the grade (30-40% of TREO)
• Clay layer averages 15-20m
• Shallow, high-grade intersections
• 16,000m of rare earth assays pending – expected periodically over June/July 2022
  

 

[Dona Ferentes]

It's early days in the Rare Earths exploration. As well as Circle Valley, there is another set of leases closer to Esperance:

Cascade is a step change in both scale and grade , with the potential to host multiple, large rare earth deposits

• Shallow, Thick, High Grade Intersections up to 5,791ppm TREO
• Remarkable scale potential with high grade rare earth assays reported over 1,143km2
• High value magnet rare earths up to 45% of TREO grade
• Shallow, high grade intersections

Plus the original focus, like so many WA outfits, has been the more traditional set of assets

Strategic 1.1 Moz Mineral Resource in the Murchison Gold Field

• High confidence gold Mineral Resource:
• 65% in Measured and Indicated classification
• Located adjacent to major highway network
• Close to existing large scale mill infrastructure

The December 2021 Scoping Study outlined:

• 8 year life of mine
• Undiscounted free cash flow = $182M
• Average gold production of ~50,000oz
• Mine production = 4.9Mt @ 2.8g/t Au for 443koz

PFS underway (due second half 2022); the key focus is now on growing the Mineral Resource, expanding production and extending mine life.

 

[Dona Ferentes]

Highest Grade Rare Earth Assays to Date from Circle Valley, Mineralised Zone Expanded
- Rare earth grades up to 2,439ppm TREO


Was going to be my Aug tip, but jumping around too much

 

[greggles]

This looks good. Nice grades and wide intercepts. 3,614m of additional assays are still ending. Would be nice to see some intersections at a shallower depth from those.

Lots more drilling to be done but it's a very good start.

 

[Dona Ferentes]

Was going to be my Aug tip, but jumping around too much

Oh well

 

[Miner]

Massive gold and REE discovery - fantastic for gambling and my tip (hopefully no one has taken so far).
Looking into previous postings, there are a lot here.
I noticed the price of MEK was abnormally jacked up prior to a CR with SI in which the directors reportedly only invested $550,000.
The price of CR was 6 cents and in last two days the price again dived down.
DNH . But due to my tip, I am sure MEK would go down by another 25 percent giving me opportunity to buy then.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02555396-6A1105206?access_token=83ff96335c2d45a094df02a206a39ff4

DYOR

 

[Dona Ferentes]

very much driven by Announcements

 

[basilio]

Jumped on MEK after my perennial hopeful WIN lucked out.
MEK is a classic speccie that jumps/is pumped on news and the falls back to the pack. Perhaps this month any news comes late and the SP stays up until stumps ?

 

[Dona Ferentes]

Jumped on MEK after my perennial hopeful WIN lucked out.

a month early for the comp tipping, bas.

MEK has moved from 5.6c to 6.8c in Nov, mainly on the back of assays coming back.

• Shallow drilling at St Anne’s, part of the 100% owned Murchison Gold Project, has intersected strong oxide gold mineralisation, now called the ‘Wood’ lode, on a previously untested contact, assays
• The Wood lode is located ~100m east of Driver lode where drilling commenced in July 2022 and has returned substantial high-grade gold results ...
• The Wood lode remains open to the north, south and at depth, with assays from 25 shallow strike extension holes to the north and south pending, and drilling remains ongoing.
• Assays are also pending for a further 43 shallow strike extension holes from the Driver lode.

 

[noirua]

Meeka Metals (ASX:MEK) reports "excellent" upstream rare earth beneficiation results

Meeka Metals (ASX:MEK) has reported "excellent" results from upstream beneficiation tests as part of its ongoing rare earths metallurgical test program.

themarketherald.com.au

Meeka Metals (MEK) has reported “excellent” results from upstream beneficiation tests as part of its ongoing rare earths metallurgical test program.

The company said the results received showed up to 90.4 per cent of the valuable rare earth elements could be recovered in -20 micrometres (µm) size fraction.

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

 

[peter2]

MEK has raised capital for the second time two months after the last.

They state that their gold project will be fully funded and headed for first gold production mid 25.
This latest cap raise removes the need to hedge their production and security over the Company's assets.

Current share price is below latest offer price. Worth monitoring for resumption of gold's up trend.