TM1 - Terra Metals

[barney]

this has run recently but still has market cap under $10M

Yeah I just noticed that after seeing your post .... looks interesting. Very thin Sellers market

 

[Dona Ferentes]

Yeah I just noticed that after seeing your post .... looks interesting. Very thin Sellers market

things need bedding down ... Quarterly out today.. $2 &a bit M in cash
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Subject to shareholder approval, consideration for the acquisition comprises the issue of 50,000,000 ordinary shares in the Company, the issue of 60,000,000 performance shares in the Company which convert into ordinary shares subject to the satisfaction of certain performance milestones, and repayment of a total of up to $350,000 in loans owed by Dante at completion. If Dante’s subsidiary, 97992001 Pty Ltd, commences mining on E69/3401, then 97992001 Pty Ltd will pay a 1% net smelter royalty to the previous tenement owner in respect of any saleable minerals recovered from E69/3401.

Completion of the acquisition is subject to several outstanding conditions precedent, including completion of due diligence by the Company and obtaining the necessary shareholder and regulatory approvals. If the conditions precedent are not satisfied (or waived) on or before 31 October 2023 (or such other date as the Purchaser and the Company agree) either party may give notice to the other party that the Agreement is terminated.

As part of the Acquisition, Mr Thomas Line will be appointed as Managing Director and CEO of the Company. Mr Line is an experienced geologist, project generator and executive with over 10 years’ experience in mining, exploration and resource development including his most recent role as CEO of Taruga Minerals Ltd (ASX: TAR). As
part of Mr Line’s proposed remuneration arrangements with the Company, Mr Line (and/or his nominee(s)) will, subject to shareholder approval, be granted 7,000,000 performance rights in the Company which convert into ordinary shares subject to the satisfaction of certain performance milestone.

 

[Dona Ferentes]

a bit of buying interest .. no recent news

 

[debtfree]

A bit of interest recently in GCX - Price and Volume are going hand in hand lately turning the Short & Long term trends up.

 

[System]

On April 19th, 2024, GCX Metals Limited (GCX) changed its name and ASX code to Terra Metals Limited (TM1).

 

[Dona Ferentes]

On April 19th, 2024, GCX Metals Limited (GCX) changed its name and ASX code to Terra Metals Limited (TM1).

they'll be going for cash soon

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DRILLING CONFIRMS DISCOVERY OF LARGE PLATREEF-STYLE COPPER-PGE SULPHIDE REEFS AT DANTE​

Highlights
• Results from a further 14 drillholes confirm the discovery of multiple Platreef-style copper-platinum group element reefs from surface at the Dante Reefs; only 15km from BHP’s $1.7 billion Nebo-Babel mine development (390Mt @ 0.30% Cu, 0.33% Ni, 0.23g/t PGE).
• Drilling results to-date confirm that the Dante Reefs have the potential to host a large sulphide deposit containing copper, gold, PGEs, vanadium and titanium; the first of its kind in Australia.
o The Dante Reefs are a series of gentle dipping, laterally extensive, mineralised layers (similar to a coal seam) which outcrop from surface and in total run for 42km.
o Approximately 10m thick with a higher-grade basal layer of approximately 5m.
o Mineralisation defined over 3km in length from surface at Reef 1, while first assays at Reef 2 confirm a further 1.5km of strike.
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Managing Director and CEO, Thomas Line, commented: "We are excited to have discovered multiple Platreef-style copper-PGE sulphide reefs from a first pass-reconnaissance drilling program at the Dante Project, the first of its kind in Australia. Our next step is to continue to replicate these results over the extensive strike at the Dante Reefs, ensuring we are well positioned for success.

"It's clear that there is a concentration and combination of high value metals within the same layers in the Dante Reefs. Chalcocite and bornite appear to be the dominant copper-sulphides. Our highly experienced metallurgical team, led by Dr. Evan Kirby, have already commenced initial metallurgical test work, focusing on the application of conventional flowsheets.

"The discovery of similar style reefs in the Bushveld Province of South Africa has resulted in some of the world's largest, longest running and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operations with over 100 years of ongoing production. The stratiform reefs of the Bushveld average 1 to 2 metres in thickness and require complex underground mining operations: however, their centennial mine life exemplifies how successful these types of deposits can be. The 120 million tonne Platreef Deposit, which is thicker than the other reefs in the Bushveld. sits 600m beneath the surface requiring immense infrastructure including one of the world's largest hoist-shaft to extract the ore to the surface.

"The Dante Reefs, however, outcrop from surface over more than 40km of strike, with a gentle dip and an average thickness of approximately 10 metres with a higher-grade basal reef layer, and a second, upper reef layer of lower grade but similar thickness.

"This is just the beginning of the discovery story at the Dante Project, where the vast majority of targets and strike remain undniled. New insights at the Cronus Prospect are highlighting possible vectors for higher-grade magmatic sulphides. We look forward to presenting these along with further assays in the coming weeks."

 

[Dona Ferentes]

they'll be going for cash soon
"

just how soon?

... posted at 8:27am
... and at 9:34am

The Company advises that:

1. The trading halt is requested pending an announcement regarding a proposed capital raising;

 

[Dona Ferentes]

a bit of a buzz going on, and Terra resumes trading above the TH price.

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Terra has successfully secured commitments from institutional and sophisticated investors to subscribe for 100,000,000 new ordinary shares of the Company at an issue price of $0.06 per share, to raise gross proceeds of $6 million.

The Company’s largest shareholder, Tribeca, has committed to subscribe for approximately $941,000 under the Placement and Directors of the Company have committed to subscribe for $174,000 under the Placement, subject to shareholder approval. In addition, several new resource focused institutions supported the Placement, validating the recent Dante Reefs discovery.

Proceeds from the Placement will be used to accelerate exploration and development of the Company’s Dante Project in Western Australia, and for general corporate purposes, including:
• Infill and extensional drilling at the Dante Reefs;
• Metallurgical and mineralogical analysis at the Dante Reefs;
• Geophysical surveys across the broader Dante Project; and
• New discovery drilling of magmatic copper sulphide targets at the Dante Project.

The Company’s CEO and Managing Director, Thomas Line, commented: “We are very pleased at the strong support received for the Placement, including from several new resource focused institutions. Our recent copper-platinum group element sulphide discovery at the Dante Reefs is the first of its kind in Australia. The Dante Reefs are mapped to outcrop for at least 42km of strike across the Dante Project, with most remaining undrilled. Proceeds from the Placement will now allow us to accelerate our plans to grow and develop this exciting discovery.”

Evolution Capital acted as Lead Manager to the Placement. The issue price of $0.06 per share represents a 17.8% discount to the last closing price of $0.073.

 

[Dona Ferentes]

a bit of a buzz going on, and Terra resumes trading above the TH price..

and to think, this was my July tip alternate

NEW ASSAYS DOUBLE STRIKE LENGTH AT DANTE REEFS DISCOVERY TO OVER 9KM​

Highlights
• Results from a further 16 drillholes confirm a second large Platreef-style copper-platinum group element (PGE) sulphide reef at Reef 2, only 15km from BHP’s $1.7 billion Nebo-Babel mine development (390Mt @ 0.30% Cu, 0.33% Ni, 0.23g/t PGE).
• These results have more than doubled the discovery strike length of Dante Reefs to over 9km.
• The Dante Reefs outcrop from surface and have been mapped over 42km, providing potential for additional exploration upside with planned infill and extensional drilling.
• The Dante Reefs are approximately 10m thick with a higher-grade basal layer approximately 5m thick, substantially thicker than the analogous Bushveld Reefs which average 1-2m.

 

[noirua]

MarketOpen Australia on LinkedIn: Terra (ASX:TM1) doubles Dante Platreef discovery strike in the West…

Terra Metals has confirmed another large Platreef-style copper-PGE sulphide reef and doubled its discovery strike near the major BHP development in the remote…

www.linkedin.com

 

[Dona Ferentes]

don't get my feed from LinkedIn, but at least there's some info in the blurb.

and to think, this was my July tip alternate

because it's moved from 7c to 10.5c this month

NEW ASSAYS DOUBLE STRIKE LENGTH AT DANTE REEFS DISCOVERY TO OVER 9KM​

and their news of the 3rd July:

Highlights
• Results from a further 16 drillholes confirm a second large Platreef-style copper-platinum group element sulphide reef at Reef 2, only 15km from BHP’s $1.7 billion Nebo-Babel mine development (390Mt @ 0.30% Cu, 0.33% Ni, 0.23g/t PGE).
• These results have more than doubled the discovery strike length of Dante Reefs to over 9km.
• The Dante Reefs outcrop from surface and have been mapped over 42km, providing potential for additional exploration upside with planned infill and extensional drilling.
• The Dante Reefs are approximately 10m thick with a higher-grade basal layer approximately 5m thick, substantially thicker than the analogous Bushveld Reefs which average 1-2m

 

[craigj]

TM1 Big retracement from the high of 10.5c to currently 5.8c now below the cap raise of 6c

Looks oversold selling pressure from cap raise should dry up soon