http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 21 Aug 2017 05:17:10 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Aeon Metals bags A$5.5M to progress Walford Creek project ]]> http://www.proactiveinvestors.com.au/companies/news/182300/aeon-metals-bags-a55m-to-progress-walford-creek-project-182300.html Aeon Metals Ltd (ASX:AML) has secured commitments to raise A$5.5 million via the placement of shares to investors at A$0.14 per share, to progress its Walford Creek copper-zinc-cobalt project in Queensland.

Interestingly, the placement was oversubscribed enabling Aeon to upsize the offer.

The new shareholders include a mix of domestic and international long-term resource focused institutional investors along with new and existing sophisticated investors.

Importantly, the funds will enable further drilling at Aeon’s Walford Creek project during 2017 and progress the bankable feasibility study on the Vardy resource.

Aeon recently completed a preliminary technical and economic study on the potential viability of the Vardy Zone within the global Walford Creek Resource.

The Vardy Zone is expected to produce 38,158 tonnes copper, 28,848 tonnes zinc and 3,196 tonnes cobalt over six-years, based on a resource of 3.6 million tonnes at 1.15% copper, 1.06% zinc and 0.18% cobalt.

Aeon recently drilled a high-grade copper intersection within the current Vardy resource.

The company intersected: 16 metres at 2.10% copper, 0.11% cobalt, 1.31% lead, 0.86% zinc and 46.65 g/t silver from 120 metres, including a high-grade section of 5 metres at 5.12% copper.

The increasing confidence of the geological model together with the large and robust database is expected to deliver a compelling bankable feasibility study for the project.

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Fri, 11 Aug 2017 13:21:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182300/aeon-metals-bags-a55m-to-progress-walford-creek-project-182300.html
<![CDATA[News - Aeon Metals continues to drill high-grade copper from Walford Creek ]]> http://www.proactiveinvestors.com.au/companies/news/180886/aeon-metals-continues-to-drill-high-grade-copper-from-walford-creek-180886.html Aeon Metals Limited (ASX:AML) has received a high-grade copper drilling result from its Walford Creek Project in Queensland.

This hole was drilled as an infill hole together with several others to test the high grade pyritic unit against the Fish River Fault (FRF) within the current Vardy resource.

Aeon intersected 16 metres at 2.10% copper, 0.11% cobalt, 1.31% lead, 0.86% zinc and 46.65 g/t silver from 120 metres including high-grade copper of 5 metres at 5.12% copper.

The increasing confidence of the geological model together with the large and robust database is now enabling the geological team to better target holes where mineralisation juxtaposes the FRF.

Since drilling commenced in early May, 18 diamond drill holes have been completed for a total of 2,159 metres.

To date 10 reverse circulation holes have also been drilled for 1,058 metres.

The focus of the drilling has now turned to testing other potentially high-grade mineral zones to the west of Vardy.

Aeon recently completed a preliminary technical and economic study on the potential viability of the Vardy Zone within the global Walford Creek Resource.

The Vardy Zone is expected to produce 38,158 tonnes copper, 28,848 tonnes zinc and 3,196 tonnes of cobalt over a six-year mine life, based on a resource of 3.6-million tonnes grading 1.15% copper, 1.06% zinc and 0.18% cobalt.

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Fri, 14 Jul 2017 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180886/aeon-metals-continues-to-drill-high-grade-copper-from-walford-creek-180886.html
<![CDATA[News - Aeon Metals assays high-grade cobalt at Walford Creek ]]> http://www.proactiveinvestors.com.au/companies/news/178742/aeon-metals-assays-high-grade-cobalt-at-walford-creek-178742.html Aeon Metals (ASX:AML) has received high-grade cobalt results from the first two holes of its 2017 drilling program at the Walford Creek Project in Queensland.

Both holes, located outside of the Vardy Resource to the northeast, have intersected significant mineralisation and returned assay results including:

- 67 metres at 0.20% cobalt and 0.40% copper from 57 metres including 16 metres at 0.5% cobalt and 0.86% copper from 58 metres.

- 11 metres at 0.14% cobalt, 0.43% copper and 3.45% zinc from 62 metres.

Aeon recently completed a preliminary technical and economic study on the potential viability of the Vardy Zone within the global Walford Creek Resource.

The Vardy Zone is expected to produce 38,158 tonnes copper, 28,848 tonnes zinc and 3,196 tonnes of cobalt over a six-year mine life, based on a resource of 3.6-million tonnes grading 1.15% copper, 1.06% zinc and 0.18% cobalt.

The initial focus of the 2017 drill campaign has been to test the newly interpreted fault splays from the Fish River Fault (FRF) to the northeast.

A total of 1130 metres has been completed since drilling commenced in early May.

Importantly, based on the two assay results and geological logging of the other 7 holes, it is expected that material tonnage will be added to the Vardy Zone.

Aeon’s shares were last trading 3% higher intra-day, at $0.16.

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Mon, 05 Jun 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178742/aeon-metals-assays-high-grade-cobalt-at-walford-creek-178742.html
<![CDATA[News - Aeon Metals reveals economic potential of Walford Creek ]]> http://www.proactiveinvestors.com.au/companies/news/173159/aeon-metals-reveals-economic-potential-of-walford-creek-173159.html Aeon Metals (ASX:AML) has indicated that its Walford Creek Project in north west Queensland is a technically conventional and economically robust project, from a preliminary economic assessment.

Importantly, the company has projected a life of mine revenue from copper, zinc, silver and cobalt of $579 million through the development of the high grade Vardy Zone within the project.

The projected life-of mine net cash flow is $84 million with an average EBITDA of $39 million per year (initial mine life of 6 years).

Aeon’s estimated capital cost to first production is $97 million and operating cost is $97/tonne of run-of-mine production.

The company’s drilling in 2016, which was focused on the eastern portion of the Walford Global Resource, referred to as the Vardy Zone, successfully identified high value shallow mineralisation.

The project currently has a resource of 3.6 million tonnes grading 1.15% copper, 1.06% zinc, 0.18% cobalt, and 26 g/t silver.

Significantly, over 70% of the tonnes included in the current resource inventory are in the measured and indicated category.

The company has identified three areas for Q2/Q3 2017 drilling: infill at Vardy, drilling to the northeast and targeting of the high grade zones within the current resource west of the Vardy Zone.

Aeon is aiming to complete the bankable feasibility study by Q4-2017 and targeting to commence the production of copper (with silver credits), zinc and cobalt concentrates in Q1 2019.

The company is well funded with a cash balance of about $4 million as at 31 December 2016.

Aeon’s share price has increased by more than 40% over the past six months, last trading at $0.19.

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Wed, 15 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173159/aeon-metals-reveals-economic-potential-of-walford-creek-173159.html