WA8 - Warriedar Resources

[System]

Kimberley Rare Earths Limited (KRE) has been specifically formed by Navigator Resources Limited (NAV) to develop the Cummins Range Rare Earths Project.

On completion of its Initial Public Offering, KRE will, subject to certain conditions, acquire an immediate 25% ownership of the Cummins Range Project from its parent, Navigator Resources Limited, with the opportunity to earn an additional 30% interest with expenditure of $10 million in exploration over a four year period to obtain a majority 55% interest. KRE will then have the right to earn up to an 80% interest in the Project through the completion of a feasibility study in bankable form.

 

[warennie]

Re: KRE - Kimberley Rare Earths

'Heavily oversubscribed' - Listing begins tomorrow, i'd expect gains from the get go.
Rare earths are super popular at the moment, everyone wants a piece. I'd imagine once this goes to market everyone will jump in. DYOR however.

I've put it in my watchlist for tomorrow.

 

[warennie]

Re: KRE - Kimberley Rare Earths

Calculations...

5.416m rare earth asset (cost price)
17.317m cash reserves (16/05/11)
125.584m shares

Asset backed SP = $0.181

Thus @ the current SP of $0.15
Current value of 25% cummins range = 1.521m

Value of rare earth oxides has been booming of late.
Enough said.

 

[springhill]

Re: KRE - Kimberley Rare Earths

MC - $8.1m
SP - 7.3c
Shares - 112m
Options - NQ
Cash - $12m

KRE have a fantastic MC:Cash ratio, my main concern is the rate of cash burn. Around $1m last quarter and $1.6m this quarter (projected). Unfortunately for KRE they are not getting any SP appreciation bang for their buck.
Is this a case of the market not appreciating the MC:Cash Ratio + project potential, or is it a waiting game for further progress?

Malilongue Project - Mozambique
Strategic metals exploration project
 Vundu: prospect confirmed as significant rare earths target
- Soil geochemical results enhance prospectivity
- Second target identified on Vundu extended grid
- Strong neodymium anomalism observed
 Chigaio: major strategic metal prospect defined
- Significant lithium anomalism identified
- Significant tantalum and tin anomalism identified
 Follow up exploration underway
 Soil geochemical coverage extends to 80% of the granite margin

Cummins Range Project – Western Australia
Light rare earths development project
 Conceptual mining studies completed
 Conceptual rare earth separation flow sheets developed
 Preliminary Evaluation Study results scheduled for July

KRE holds a 40% interest in the mineral rights (excluding gemstones), and has entered an agreement to earn up to a 90%, in the Malilongue Project in Mozambique. Malilongue comprises two tenements with significant exploration potential including for pegmatite-hosted heavy rare earth elements and other strategic metals. KRE began field exploration at Malilongue in March 2012.

KRE also holds a 25% interest, and the right to earn up to 80%, in the Cummins Range Project in Western Australia. The Cummins Range Project comprises an exploration tenement in the East Kimberley within which is contained an Inferred Resource of 4.17 Mt at 1.72% TREO (total rare earth oxide), 11.0% P2O5 and 187 ppm U3O8 (using a 1% TREO cut off). The Cummins Range Project is one of only a few Australian rare earths projects with a Resource reported in accordance with the JORC Code

 

[springhill]

Re: KRE - Kimberley Rare Earths

Cummins Range rare earths project: Positive assessment from concept study

• Concept study supports technical viability
• Resource fully exploitable via simple open pit design
• Conventional process flow sheet achievable
• Commercial scale production rate supports 16 year mine life
• Economics enhanced with scale‐up to include third party feeds

The Cummins Range rare earths deposit has significant intrinsic advantages of favorable mineralogy, ease of mining, and relatively low technical and country risk. A low‐risk metallurgical flow sheet has been defined based on successful concentration test work and conventional downstream unit processes.
The base case project concept is for straightforward open pit mining and concentration at the site, then downstream processing into five separate rare earth products at a coastal port location. The principal market is Asia.
A 16 year mine life results from a production rate of 3,000 tonnes per annum (tpa) TREO, which accommodates both the scale of the project and market factors. Improved project economics are possible through capacity scale‐up of the downstream processing facility to treat potential third party or additional KRE feed concentrates.
Next steps are to identify and investigate strategies and opportunities for the optimisation of downstream processing before proceeding with further engineering or exploration.

 

[springhill]

Re: KRE - Kimberley Rare Earths

Malilongue Project: Rare earth prospectivity confirmed and extended

• All first phase soil geochemical assays received
• Significant TREO prospect at Vundu confirmed
• Large TREO prospect at Tombalala identified
• Heavy rare earth prospectivity increased;
- Alluvial xenotime pebbles assay 40% TREO and 27% HREO.
- HREO anomalism in central granite pluton identified
• Trenching campaign in progress

 

[Redbeard]

Seven years later and still waiting for a payoff... wasnt rare earths supposed to be the next big thing ... ie Lithium???

 

[System]

On February 20th, 2023, Anova Metals Limited (AWV) changed its name and ASX code to Warriedar Resources Limited (WA8).

 

[Dona Ferentes]

Warriedar Resources Limited (WA8).

The new name more accurately reflects the Company’s flagship focus on the Murchison province of Western Australia. This follows the recent completion of its acquisition of DC Mines Pty Ltd, owner of the highly prospective Golden Range and Fields Find Projects located within the Murchison region.

 

[Dona Ferentes]

it's gold, it's Murchison ... can't waeight.

Further extensional success at Rothschild

HIGHLIGHTS:
▪ Second set of assay results comprising a further five drill holes at the Rothschild deposit within the Fields Find Project.
▪ High-grade extensional intercepts returned including 5m @ 4.36 g/t Au from 91m, 12m @ 1.61g/t Au from 179m, and 12m @ 1.29 g/t from 228m.
▪ Further demonstration of substantial, multi-lode growth potential at Rothschild, both along strike and at depth; with mineralization extended to 220m below surface.
▪ Initial drilling program at Rothschild of 47 RC holes for 7,529m is now complete; assays for 38 holes are pending and expected to be received during the second half of June.
▪ Excellent results to date at Rothschild have encouraged acceleration of scout-drilling targeting ‘Rothschild analogues’, with similar or better geophysical responses, within the camp-scale setting of the ML that overlays that part of the Fields Find Project.
▪ Drilling of these high-potential targets is expected to commence during Q3 CY2023.

.... would be fair to say that the excitement is lacking, since pivoting (Feb).

 

[Dona Ferentes]

WA8 will accelerate its scout-drilling to target ‘Rothschild analogues’ with similar geophysical responses within the wider existing mining lease and expects to start drilling these high-potential targets during Q3 this year.

“The excellent drilling results returned to date at Rothschild have led to a re-prioritisation of the prospects within the vicinity of the Rothschild deposit.

“These results further demonstrate deposit extension at depth and, together with the initial assays released, confirm Warriedar’s interpretation that the Rothschild deposit is much larger than currently defined in terms of both strike and depth extent.”

This includes the Stone Hut gold prospect, which is located immediately south-west of the historic Rothschild gold mine.

 

[Faramir]

Warriedar Resources Limited, formerly Anova Metals Limited, is an Australia-based an advanced gold and copper company. The Company’s project includes Western Australian Projects and Nevada Projects. Western Australian Projects include Golden Range and Fields Find Projects (Fields Find) in Western Australia sit in the middle of the highly active Murchison exploration and mining province, which hosts substantial deposits of both gold and base metals. Fields Find, located to the east of Golden Range, is also called polymetallic enigma, given that it contains elevated levels of nickel, copper and gold. Nevada Projects includes Big Springs Gold Project (Big Springs) is adjacent to First Majestic Silver’s Jerritt Canyon Gold Mine Complex. Big Springs has an existing resource base of approximately one Moz gold within a granted mining license, surrounded by approximately 93 square kilometers (km2) of prime exploration ground prospective for Carlin-style gold.

Source: https://au.investing.com

 

[Faramir]

I am choosing WA8 for June 2023 tipping comp.