http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Thu, 19 Jul 2018 19:34:30 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Celsius Resources begins airborne survey at Namibian cobalt project ]]> http://www.proactiveinvestors.com.au/companies/news/201109/celsius-resources-begins-airborne-survey-at-namibian-cobalt-project-201109.html Celsius Resources Ltd (ASX:CLA) has begun an airborne electromagnetic survey at its Opuwo Cobalt Project in Namibia.

Around 650 line kilometres have been completed out of a planned 6,090 kilometres with the final interpreted results expected by October.

READ: Celsius Resources attracts $9 million to progress cobalt project in Namibia

Celsius managing director Brendan Borg said commencing the survey was an exciting milestone for exploration in the region.

He said: “[The survey] will assist in understanding the potential still to be uncovered at the project.

“This is the first time a geophysical survey of this nature has been conducted in the region and we look forward to further investigating targets that may be generated as the survey progresses.”

Results to include wider regional data

The survey aims to assist in geological mapping of near-surface conductive sedimentary horizons and delineate discrete conductive zones along those sedimentary horizons.

It also intends to detect deeper discrete conductive bodies that may be related to deeper stockwork or semi-massive/massive sulphide mineralisation in feeder zones.

Surveying has started on the neighbouring project held by Namibia Critical Metals Inc (CVE:NMI) and is flying parts of the Celsius project area during this time to maximise operational efficiency.

Celsius has agreed to share data with Namibia Critical Metals to allow an integrated regional interpretation of the results.

READ: Celsius Resources shares rise on maiden cobalt resource in Namibia

The Opuwo project is in northwest Namibia and has an inferred resource of 112.4 million tonnes at 0.11% cobalt, 0.41% copper and 0.43% zinc.

Celsius considers Opuwo to be large-scale with favourable mineralogy and low in deleterious elements.

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Thu, 19 Jul 2018 02:26:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201109/celsius-resources-begins-airborne-survey-at-namibian-cobalt-project-201109.html
<![CDATA[News - Celsius Resources attracts $9 million to progress cobalt project in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/196307/celsius-resources-attracts-9-million-to-progress-cobalt-project-in-namibia-196307.html Celsius Resources Ltd’s (ASX:CLA) shares closed 7.5% higher at 22 cents after completing a bookbuild to raise $9 million via the issue of shares at 18.5 cents each to institutional and professional investors.

The funds raised from the North American, Hong Kong, European and Australian investors will be applied primarily to fund the progression of the Opuwo Cobalt Project in Namibia.

Celsius is aiming to complete the project scoping study (already well advanced, due June 2018), a pre-feasibility study and resource drilling programs.

The company will also carry out exploration of additional targets identified across the broader project area, including newly acquired licences.

READ: Celsius Resources shares rise on maiden cobalt resource in Namibia

The company recently revealed a maiden cobalt resource at the Opuwo Cobalt Project.

The resource comprises 112.4 million tonnes at a grade of 0.11% cobalt, 0.41% copper, and 0.43% zinc, at a cut-off grade of 0.06% cobalt.

Celsius managing director Brendan Borg said: “This capital raising allows the company to be fully funded for the continued rapid evaluation of the Opuwo Cobalt Project beyond the pre-feasibility stage.

“With our recently announced maiden JORC compliant mineral resource confirming the project as having what we consider to be world significance in terms of size and strategic value, we look forward to continuing to progress the studies on the project as quickly as possible.”

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Thu, 03 May 2018 16:16:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196307/celsius-resources-attracts-9-million-to-progress-cobalt-project-in-namibia-196307.html
<![CDATA[News - Celsius Resources shares rise on maiden cobalt resource in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/194999/celsius-resources-shares-rise-on-maiden-cobalt-resource-in-namibia-194999.html Celsius Resources Ltd’s (ASX:CLA) shares are trading about 22% higher intra-day at 20 cents after revealing a maiden cobalt resource at its 95% owned Opuwo Cobalt Project in Namibia.

The resource comprises 112.4 million tonnes at a grade of 0.11% cobalt, 0.41% copper, and 0.43% zinc, at a cut-off grade of 0.06% cobalt.

READ: Celsius Resources' shares ride higher on thick cobalt hits in Namibia

Significantly, the 126,100 tonnes of contained cobalt significantly exceeds the company’s expectation and its previously announced exploration target.

Furthermore, over 95% of the resource is comprised of the fresh sulphide ore type, a key feature of the Opuwo Project.

The price of cobalt increased from US$32/kilogram in early 2017 to US$75/kilogram at the year-end. In the first quarter of 2018, the price went up by another 26%, reaching US$95/kilogram.

Mineralised zones open in all directions

The resource covers a zone of about 10 kilometres, with mineralisation remaining open in all directions.

Mineralisation and grade continuity has already been confirmed over a total of more than 15 kilometres of strike, with over 100 kilometres of total prospective strike identified.

Scoping study due late second quarter 2018

Celsius managing director Brendan Borg said: “The results of the external resource modelling and estimation confirm the consistent and expansive scale of the project.

“We are confident that further drilling, which is already underway, will enable future upgrades to the maiden JORC mineral resource.”

The maiden resource will form the basis of the project scoping study for Opuwo, for which key work programs are advancing well, with delivery expected late in Q2, 2018.

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Mon, 16 Apr 2018 12:37:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194999/celsius-resources-shares-rise-on-maiden-cobalt-resource-in-namibia-194999.html
<![CDATA[News - Celsius Resources' shares ride higher on thick cobalt hits in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/190951/celsius-resources-shares-ride-higher-on-thick-cobalt-hits-in-namibia-190951.html Celsius Resources Ltd’s (ASX:CLA) shares are trading 13% higher intra-day at $0.13 after receiving some of the best cobalt results seen to date at its Opuwo Cobalt Project in Namibia.

Highlights from the latest batch of assays received from the recently completed drilling program include:

- 17 metres at 0.14% cobalt and 0.42% copper;
- 10 metres at 0.12% cobalt and 0.59% copper and 4 metres at 0.13% cobalt and 0.55% copper (same hole); and
- 7.7 metres at 0.11% cobalt and 0.52% copper.

The results are highly encouraging as Celsius close in on reporting its maiden resource.

READ: Celsius Resources prepares maiden cobalt resource

A diamond drill rig has remained on site at Opuwo, and has commenced drilling to the west of the resource definition drilling that was completed in late 2017.

Three diamond drill holes have so far been completed in this area, all intersecting Dolomite Ore Formation (DOF) mineralisation.

Furthermore, the company’s geophysical contractor has completed downhole electromagnetic surveys at the project, with data currently being modelled and interpreted.

READ: Celsius Resources bags $3.9 million to advance cobalt project in Namibia

The company is well funded with circa $4.3 million in cash as at 31 December 2017 following a $3.94 million placement of shares in October to institutional and professional investors at $0.055 each.

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Thu, 01 Feb 2018 11:42:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190951/celsius-resources-shares-ride-higher-on-thick-cobalt-hits-in-namibia-190951.html
<![CDATA[News - Celsius Resources prepares maiden cobalt resource ]]> http://www.proactiveinvestors.com.au/companies/news/188975/celsius-resources-prepares-maiden-cobalt-resource-188975.html Celsius Resources Ltd (ASX:CLA) has completed a 99 hole drilling program spanning more than 17,000 metres at its Opuwo Cobalt Project in Namibia.

Results from the drilling program should begin to flow in January, resulting in resource in February.

Scoping study and maiden JORC resource target for first quarter of 2018

The company is also investigating flotation parameters to improve recovery and grade of cobalt in concentrate.

A concentrate sample has been prepared for this purpose which has a grade of 1.22% cobalt.

There are some early 2018 share price catalyst with Celsius flagging a scoping study and initial JORC mineral resource statement for release in the first quarter of 2018.

Potential for large-scale project in a mining friendly region

Celsius views the Opuwo project as highly compelling given its potential size.

The project consists of four Exclusive Prospecting Licences covering circa 1500 square kilometres.

Should the project be a large-scale/long life source of production, it is well situated in terms of proximity to transport and power, as well as the Walvis Bay port facilities.

Namibia also offers a politically stable, mining friendly environment.

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Tue, 19 Dec 2017 11:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188975/celsius-resources-prepares-maiden-cobalt-resource-188975.html
<![CDATA[News - Celsius Resources bags $3.9M to advance cobalt project in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/186288/celsius-resources-bags-39m-to-advance-cobalt-project-in-namibia-186288.html Celsius Resources Ltd (ASX:CLA) has successfully completed a bookbuild to raise circa $3.94 million via a placement of shares to institutional and professional investors at $0.055 each.

The funds raised will be applied primarily to fund the progression of its 95% owned Opuwo cobalt project located Namibia.

This includes completion of the resource drilling and metallurgical testworks currently in progress, scoping study, exploration on newly acquired licences and a pre-feasibility study.

Celsius has a 15,000-metre cobalt resource drilling program underway at the Opuwo project, with five rigs spinning and the program expected to wrap up in mid-December.

Project vendor and substantial shareholder, Gecko Namibia, elected to participate in the capital raising, increasing their percentage ownership in Celsius as a result.

Celsius is expected to deliver its maiden JORC resource in early 2018.

The company is aiming to leverage off the boom in battery metals and is currently focused on cobalt projects.

Celsius’ share price has increased by circa 74% in the past three months and closed at $0.59 on Thursday.

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Fri, 27 Oct 2017 08:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186288/celsius-resources-bags-39m-to-advance-cobalt-project-in-namibia-186288.html
<![CDATA[News - Celsius Resources to lift cash balance as five rigs spin for cobalt in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/186059/celsius-resources-to-lift-cash-balance-as-five-rigs-spin-for-cobalt-in-namibia-186059.html Celsius Resources Ltd (ASX:CLA) has a 15,000 metre cobalt resource drilling program underway at its 95%-owned Opuwo Cobalt Project in Namibia.

Five rigs are spinning with the program expected to wrap up in mid-December.

Preliminary results from the metallurgical and mineralogical studies currently being undertaken have been encouraging, confirming simple sulphide mineralogy.

Celsius is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 26th October 2017, or earlier if an announcement is made to the market.

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Tue, 24 Oct 2017 09:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186059/celsius-resources-to-lift-cash-balance-as-five-rigs-spin-for-cobalt-in-namibia-186059.html
<![CDATA[News - Celsius Resources parachutes into new project ]]> http://www.proactiveinvestors.com.au/companies/news/183271/celsius-resources-parachutes-into-new-project-183271.html Celsius Resources Ltd (ASX:CLA) is preparing to reveal details of a project acquisition, with the ASX granting the company a trading halt to prepare.

Celsius has most recently been active in exploring for cobalt and copper.

The halt will remain in place until the opening of trade on Tuesday 5th September 2017, or earlier if an announcement is made to the market.

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Fri, 01 Sep 2017 10:36:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183271/celsius-resources-parachutes-into-new-project-183271.html
<![CDATA[News - Celsius Resources eyes large-scale cobalt opportunity in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/182356/celsius-resources-eyes-large-scale-cobalt-opportunity-in-namibia-182356.html Celsius Resources Ltd (ASX:CLA) has completed the acquisition of the initial 30% interest in the Opuwo Cobalt Project in Namibia.

The Opuwo Project has the potential to host large-scale sediment hosted copper-cobalt mineralisation, with mineralisation over more than 15 kilometres of strike length.

Drilling is continuing at the project, and a significant resource drilling campaign is scheduled to commence in October.

Celsius has also commenced a scoping study, enabling an initial evaluation of the key areas of metallurgy and mining engineering.

The company is aiming to continue to meet its expenditure obligations under the joint venture so that it may acquire further interest in the project under a staged earn-in as follows:

- The initial 30% interest was earned by spending $500,000 within 6 months of exercising the option to proceed;
- A further 30% to be earned following expenditure of a further $1 million within 12 months of completing the stage 1 earn-in; and
- A final 16% to be earned following expenditure of a further $1 million within 6 months of completing the stage 2 earn-in.

Cobalt prices expected to rise

Following the earning of the 76% interest, all parties will be required to contribute to the exploration.

A call option in the agreement allows Celsius to acquire an additional 20% interest in the project for $1.25 million, prior to the completion of a bankable feasibility study.

Automotive-related demand for cobalt containing battery materials is expected to rapidly increase in the coming years with increasing sales of plug-in hybrid and fully electric vehicles.

Cobalt prices are forecast to rise as global demand for refined cobalt exceeds the 100,000 tonne mark and mine/refined supply tightens.

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Mon, 14 Aug 2017 14:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182356/celsius-resources-eyes-large-scale-cobalt-opportunity-in-namibia-182356.html
<![CDATA[News - Celsius Resources drilling assays high-grade cobalt in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/178945/celsius-resources-drilling-assays-high-grade-cobalt-in-namibia-178945.html Celsius Resources (ASX:CLA) is continuing receive strong assay results from drilling at the Opuwo Cobalt Project in Namibia.

New sample assays have extended cobalt-copper mineralisation across circa 12 kilometres.

Significant intercepts from the latest batch of drilling assays, using a cut-off grade of 0.05% cobalt, include:

- 6 metres at 0.17% cobalt and 0.52% copper from 71 metres, including 4 metres at 0.23% cobalt and 0.62% copper from 73 metres;

- 10 metres at 0.14% cobalt and 0.43% copper from 62 metres; and 

- 6 metres at 0.13% cobalt and 0.64% copper from 147 metres.

This initial phase of drilling is designed to test a 20 kilometre strike length of the cobalt-copper mineralised horizon.

Wide spaced drilling has been completed across circa 12 km of strike, with the mineralised horizon confirmed by assays in each drill fence to date.

Celsius’ drilling is currently nearing completion at the Western Zone, where higher grade cobalt mineralisation (up to 4,300 ppm, or 0.43%) has been identified at surface. Assays are pending.

The company has also commenced diamond drilling to collect samples for metallurgical testing.

Celsius is planning metallurgical testing program, preliminary mining studies and resource definition drilling to provide inputs for a scoping study, with completion before the end of 2017.

The continued strength in the cobalt price, currently at over US$56,000 per tonne, increases the appeal of a cobalt dominant project, such as Opuwo.

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Thu, 08 Jun 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178945/celsius-resources-drilling-assays-high-grade-cobalt-in-namibia-178945.html
<![CDATA[News - Celsius Resources managing director buys stock on-market ]]> http://www.proactiveinvestors.com.au/companies/news/178103/celsius-resources-managing-director-buys-stock-on-market-178103.html Celsius Resources (ASX:CLA) has received on-market buying support from its recently appointed managing director, Brendan Borg.

Borg purchased 1 million shares for consideration of $35,000.

He is a highly experienced and well-credentialed consultant geologist and his appointment to managing director in March was a catalyst for the Celsius share price.

Celsius is looking to develop the Opuwo Cobalt Project located in Namibia and is currently working towards completing a scoping study before the year end.

Borg has specialised in the battery materials sector, with involvement in various lithium, graphite and cobalt projects located in Africa.

Celsius recently established an initial Exploration Target for the central portion of the Opuwo Cobalt Project.

Data from the first 20 holes drilled across this 11 kilometre zone has generated an Exploration Target of between 33 and 41 million tonnes grading 0.13%-0.17% cobalt and 0.45%-0.65% copper.

Reverse circulation drilling is continuing across the 30 kilometres of prospective strike extent within the project and further assay results are expected shortly.

Furthermore, diamond drilling is set to commence in late May, providing samples for first pass metallurgical testing.

The company is well funded having recently secured $3.5 million in a share placement.

Celsius shares are trading up 85% year to date, currently priced at $0.039.

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Mon, 22 May 2017 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178103/celsius-resources-managing-director-buys-stock-on-market-178103.html
<![CDATA[News - Celsius Resources bags funds for cobalt next steps ]]> http://www.proactiveinvestors.com.au/companies/news/177546/celsius-resources-bags-funds-for-cobalt-next-steps-177546.html Celsius Resources (ASX:CLA) has received strong interest in a capital raising from a number of domestic and international institutional and professional investors.

A bookbuild was completed for 94.6 million shares at $0.037, raising $3.5 million.

Celsius raised funds for the evaluation of the Opuwo Cobalt Project in Namibia, where cobalt-copper mineralisation has been confirmed over 11 kilometres of strike.

Intercept highlights to date include: 5 metres at 0.20% cobalt and 0.52% copper; 6 metres at 0.13% cobalt and 0.37% copper; and 5 metres at 0.12% cobalt and 0.66% copper.

Ensuring strong news flow, reverse circulation drilling is continuing across 30 kilometres of prospective strike extent, to be followed by diamond drilling later in the month.


Opowu has large scale potential

The projects mineralisation is hosted in Neoproterozoic sediments of the Kaoko Belt, which is the western extension of the Copperbelt in DRC and Zambia.

The Dolomite Ore Formation is an organic, carbon rich, marly dolomitic horizon in a sequence of clastic and carbonate lithologies in the upper Ombombo Subgroup.

Celsius is aiming for an initial JORC Resource in September 2017.

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Wed, 10 May 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177546/celsius-resources-bags-funds-for-cobalt-next-steps-177546.html
<![CDATA[News - Celsius Resources confirms cobalt-copper mineralisation in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/176630/celsius-resources-confirms-cobalt-copper-mineralisation-in-namibia-176630.html Celsius Resources (ASX:CLA) has received highly encouraging initial cobalt and copper assay results from drilling at the Opuwo Cobalt Project in Namibia.

Sample assays from the first four drill holes confirm strong cobalt-copper mineralisation, including:

- 19 metres at 1,292 ppm cobalt, 0.62% copper and 0.71% zinc; and
- 7 metres at 1,716 ppm cobalt, 0.49% copper and 0.61% zinc.

The drill holes were spaced 400 metres west and 1,500 metres east of the two historical holes drilled in 2015, extending the drill-tested strike length of mineralisation to 1.9 kilometres.

It is important to note that the mineralisation extends to surface in many places and based on the assay data to date, grades appear to increase with depth.

The drilling is ongoing at the Opuwo Cobalt Project with a total of 20 shallow reverse circulation holes completed for 1,627 metres, with further assay results to be reported soon.

This initial phase of drilling is designed to test a 20-kilometre strike length of the cobalt-copper mineralised ‘dolomite ore formation’ (DOF) horizon.

Celsius will commence diamond drilling in early May, to provide samples for first pass metallurgical testing.

The metallurgical testing program, preliminary mining studies and resource definition drilling programs are planned to provide inputs into the scoping study, scheduled for completion before the end of 2017.

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Thu, 20 Apr 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176630/celsius-resources-confirms-cobalt-copper-mineralisation-in-namibia-176630.html
<![CDATA[News - Celsius Resources to reveal cobalt results ]]> http://www.proactiveinvestors.com.au/companies/news/176482/celsius-resources-to-reveal-cobalt-results-176482.html Celsius Resources (ASX:CLA) has been granted a trading halt by the ASX, pending results from drilling at its Opuwo Cobalt Project.

The halt will remain in place until the opening of trade on Thursday 20th April 2017, or earlier if an announcement is made to the market.

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Tue, 18 Apr 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176482/celsius-resources-to-reveal-cobalt-results-176482.html
<![CDATA[News - Celsius Resources to reveal key appointment ]]> http://www.proactiveinvestors.com.au/companies/news/175567/celsius-resources-to-reveal-key-appointment-175567.html Celsius Resources (ASX:CLA) has been granted a trading halt by the ASX this morning, pending details of an executive appointment.

The halt will remain in place until the opening of trade on Friday 31st March 2017, or earlier if an announcement is made to the market.

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Wed, 29 Mar 2017 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175567/celsius-resources-to-reveal-key-appointment-175567.html
<![CDATA[News - View Resources unleashes near surface coal intercepts at Uzgen Project ]]> http://www.proactiveinvestors.com.au/companies/news/147075/view-resources-unleashes-near-surface-coal-intercepts-at-uzgen-project-34103.html View Resources (ASX: VRE) is continuing its aggressive confirmatory drilling program at its Uzgen Basin Coal Project in Central Kyrgyzstan, where it continues to intersect hard black bituminous coal.

The Uzgen Basin Projects have an exploration target of 501 to 700 million tonnes of coal with coking coal potential.

View Resources has completed four further diamond core drillholes at the Tuyuk-Kargasha and Min Teke Prospects, intersecting two major seams of 1.94 metres and 1.06 metres at Tuyuk-Kargasha, with a total of 14 coal intersections of greater than 0.3 metres.

View Resources completed three diamond core drillholes at the Min Teke Prospect, with coal successfully intersected within 25 metres of surface in all of the holes.

Drilling intersected shallow coal seams of 2.93 metres, 0.84 metres, 1.89 metres and 1.17 metres in one hole, 2.93 metres in a second hole and 1.3 metres in a third hole.

Drill data and initial analytical work correlates well with historical drilling.

View Resources is on track to drill around 5,000 metres at the Uzgen Basin Projects this year, with first coal quality analyses anticipated shortly.


Small scale mining

The company has also begun small scale mining at the Min Teke Prospect.

Under the terms of the Development/Mining Licence, View Resources must mine 5,000 tonnes of coal a year to be sold into the domestic market.

The company anticipates generating a small cash flow from these activities which will further fund its exploration programs.


Kyrgyzstan coal acquisitions

View only recently added the Tuyuk-Kargasha, Kokkia and Min-Teke assets to its coal portfolio after agreeing to acquire 80% of the issued shares of Kokkia Coal.

Kyrgyzstan is a stable democratic country in Central Asia, historically known for its natural resources and ideally placed to supply its closest neighbour, China.

The Uzgen Basin coking coal projects are within 75 kilometres of existing railway (Kok Jangak) and close proximity to the proposed Trans-Asia Railway, which will allow direct access to China via rail.

There are several options for the sale of coking coal, including China and markets in Kazakhstan, Uzbekistan, Tajikistan.

The three tenements combined have an exploration target of 501 to 700 million tonnes of coal based on historical exploration.

The 8,000 hectare Tuyuk-Kargasha project is potentially a large tonnage coking coal project and has undergone substantial historical drilling.

A semi-industrial scale plant has been built on site to test coking properties of coal.

The 1,576 hectare Kokkia project is potentially a large tonnage coking coal project with substantial coal outcropping at surface.

The 187 hectare Min Teke project consists of a developmentmining licence covering outcropping thermal coal.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 03 Oct 2012 14:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147075/view-resources-unleashes-near-surface-coal-intercepts-at-uzgen-project-34103.html
<![CDATA[News - View Resources strikes coal in first drillhole at Tuyuk-Kargasha Prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147074/view-resources-strikes-coal-in-first-drillhole-at-tuyuk-kargasha-prospect-32705.html View Resources (ASX: VRE) has successfully intercepted coal in the very first hole of an aggressive confirmatory drill program at its Tuyuk-Kargasha Prospect in Central Kyrgyzstan.

Around 12 individual coal seams were intersected for a total coal thickness of about 7 metres, with two seams about 2 to 2.5 metres thick each.

This first drillhole marks the start of a confirmatory drilling program to test View’s exploration targets and, with further success, enable the delineation of JORC-compliant Resources.

The current phase of drilling will focus on the Tuyuk-Kargasha Prospect, which has an exploration target of 382 to 475 million tonnes of coal.

The initial drillhole was designed to twin a historical hole, and the lithologies in this new hole closely matched that of the earlier hole.

The two major coal seams were intersected between 352 to 354.5 metres and 360 to 362.5 metres.

Notably thicker coal seams were intersected in View’s drillhole for a similar total thickness of coal.


Ramping up drilling

Drilling rates achieved to date have been high and core recoveries were typically greater than 95% for all coal seams and rock types.

Further drill rigs are expected at the Tuyuk-Kargasha and Min Teke prospects this week.

If drilling continues to be successful, Snowden Group will determine if it is possible to estimate a JORC Resource based on both View’s drilling and historical drill data.

View plans to drill at least 5,000 metres of diamond core at the Uzgen Basin Coal Projects, which hosts the Tuyuk-Kargasha and Min Teke prospects, this field season.


Kyrgyzstan coal acquisitions

View only recently added the Tuyuk-Kargasha, Kokkia and Min-Teke assets to its coal portfolio after agreeing to acquire 80% of the issued shares of Kokkia Coal.

Kyrgyzstan is a stable democratic country in Central Asia, historically known for its natural resources and ideally placed to supply its closest neighbour, China.

The three tenements combined have an exploration target of 500 to 700 million tonnes of coal based on historical exploration.

Outcropping coal can be found across all three licences, along with several small scale adits and open pits.

The coal bearing formation is up to 250 metres thick and contains around 50 layers of coal with individual layers up to 8.7 metres thick.

Four prospects have been defined within the tenements – Kargasha, Tuyuk, Kokkia and Min-Teke.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 23 Aug 2012 15:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147074/view-resources-strikes-coal-in-first-drillhole-at-tuyuk-kargasha-prospect-32705.html
<![CDATA[News - View Resources strengthens coal portfolio in Kyrgyzstan with new acquisitions ]]> http://www.proactiveinvestors.com.au/companies/news/147073/view-resources-strengthens-coal-portfolio-in-kyrgyzstan-with-new-acquisitions-30214.html View Resources (ASX: VRE) has entered into an agreement to acquire an 80% interest in three prospective coking and thermal coal tenements, located in the Uzgen coal basin in Kyrgyzstan.

Kyrgyzstan is a stable democratic country in Central Asia, historically known for its natural resources and ideally placed to supply its closest neighbour, China.

View will acquire 80% of the issued shares of Kokkia Coal, which wholly owns the Tuyuk-Kargasha, Kokkia and Min-Teke assets.

To satisfy the deal, View will issue A$10 million worth of shares to the vendors, along with 9 million performance shares.

The company will also commit to spending US$2.5 million to complete the acquisition of the Kargasha-Tuyuk tenement.

The three tenements combined have an exploration target of 500 to 700 million tonnes of coal based on historical exploration.

Outcropping coal can be found across all three licences, along with several small scale adits and open pits.

The coal bearing formation is up to 250 metres thick and contains around 50 layers of coal with individual layers up to 8.7 metres thick.

Four prospects have been defined within the tenements – Kargasha, Tuyuk, Kokkia and Min-Teke.

While a JORC Resource is yet to be defined for any of the prospects, View’s first priority is to undertake geological mapping and core drilling which, if successful, could result in the definition of a JORC Resource for one or more of the prospects.

First phase drilling is scheduled to be carried out between July and September 2012.


Foray into coal

Earlier this year View successfully completed the acquisition of a 90% interest in two prospective coal assets in southern Kyrgyzstan, launching itself into the coal space.

The company finalised the acquisition of 100% of the shares in Hong Kong-based Oshpur, which holds 90% interests in the Sary-Mogol and Bel-Alma projects, after advancing the remaining US$800,000 outstanding on the loan to Oshpur.

Although early days, independent geologist Micromine Consulting has indicated the presence of relatively high energy thermal coal at the two projects.

Both projects are located close to the border of China, which is a likely end user of any coal produced, providing good access to a potential market.

Assays received by View in January showed that 12 of the 14 samples taken returned calorific values above 5,500 kilocalories per kilogram, including four samples above 7,000 kilocalories per kilogram and a maximum value of 7,284 kilocalories per kilogram.

Eleven out of 14 samples contained less than 15% ash, including five samples with less than 5% ash.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 18 Jun 2012 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147073/view-resources-strengthens-coal-portfolio-in-kyrgyzstan-with-new-acquisitions-30214.html
<![CDATA[News - View Resources: coal acquisition announcement pending, shares placed in pre open ]]> http://www.proactiveinvestors.com.au/companies/news/147072/view-resources-coal-acquisition-announcement-pending-shares-placed-in-pre-open-30100.html View Resources (ASX: VRE) has some very interesting news to deliver in the near term, with the ASX today granting the company a trading halt pending the release of an announcement on the acquisition of coal assets.

View has not yet elaborated any further on the pending announcement, but during the March quarter 2012 the company finalised the acquisition of a 90% interest in the Sary Mogol and Bel Alma licenses in Southern Kyrgyzstan.

Both Projects are close to the Chinese border providing a potential end user of the coal, and the Bel-Alma project is situated near the proposed Trans-Euro railway.

The project has an exploration licence and works agreement that are both valid until 26 July 2013, and is potentially a large tonnage, high quality thermal coal project - covering a total licence area is 278 hectares.

Surface sampling during 2011 confirmed the presence of relatively high energy thermal coal at both the Bel-Alma and Sary-Mogol projects in Kyrgyzstan. 12 out of the 14 samples returned calorific values above 5,500 Kcal/kg on an “as received” basis, including 4 samples above 7,000 kcal/kg and a maximum value of 7,284kcal/kg.

Importantly - 11 out of 14 samples contained less than 15% ash (including 5 samples with less than 5% ash).

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 18th June.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 14 Jun 2012 11:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147072/view-resources-coal-acquisition-announcement-pending-shares-placed-in-pre-open-30100.html
<![CDATA[News - View Resources finalises acquisition of Kyrgyzstan coal projects ]]> http://www.proactiveinvestors.com.au/companies/news/147071/view-resources-finalises-acquisition-of-kyrgyzstan-coal-projects--26310.html View Resources (ASX: VRE) has successfully completed the acquisition of a 90% interest in two prospective coal assets in southern Kyrgyzstan, launching itself into the coal space.

The company finalised the acquisition of 100% of the shares in Hong Kong-based Oshpur, which holds 90% interests in the Sary-Mogol and Bel-Alma projects, after advancing the remaining US$800,000 outstanding on the loan to Oshpur.

Although early days, independent geologist Micromine Consulting has indicated the presence of relatively high energy thermal coal at the two projects.

Both projects are located close to the border of China, which is a likely end user of any coal produced, providing good access to a potential market.

Assays received by View in January showed that 12 of the 14 samples taken returned calorific values above 5,500 kilocalories per kilogram, including four samples above 7,000 kilocalories per kilogram and a maximum value of 7,284 kilocalories per kilogram.

Eleven out of 14 samples contained less than 15% ash, including five samples with less than 5% ash.


Bel-Alma

The Bel-Alma project is a potentially large tonnage, high quality thermal coal project, covering an area of 278 hectares with historical samples returning calorific values between 6500 kilocalories and 7150 kilocalories.

Bel-Alma is located in the Naukat district, 70 kilometres from the Kyzyl-Kiya railway station and 70 kilometres from Osh, one of the largest cities in Kyrgyzstan, where the proposed Trans-Euro railway will be constructed.


Sary-Mogol

Situated within 30 kilometres from a major freight terminal and accessible by sealed road, Sary-Mogol is well placed in regards to transport infrastructure.

The project covers 8 hectares, with two coal seams visible from the surface that have been subject to previous open cut mining.

Negotiations are underway to sell the stockpile of coal available on the site, which could result in early cash flows.


Settlement of Acquisition

The deal is being funded through staged payments of US$2.6 million cash and the issue of 100 million shares and 500,000 performance shares in View.


Future Acquisitions

This latest acquisition is not likely to be it for View, with the vendors of the Sary-Mogol and Bel-Alma projects agreeing to assist the company in securing additional coal projects in Kyrgyzstan.

Kyrgyzstan is a stable democratic country in Central Asia, historically known for its natural resources and ideally placed to supply its closest neighbour, China, with much needed minerals and other resources.

The Sary-Mogol and Bel-Alma projects are situated some 80 to 180 kilometres from the Chinese border by road.

Just southeast of the border is Kashgar, a major city in the region that has been designated as a new economic development zone.

Kashgar is anticipated to be a hub for steel mills. Shandong Iron and Steel Group is currently in the process of constructing a steel mill, which is anticipated to be completed by 2012.

Another potential major customer base is Urumqi, which is the main city of the Xingiang region, also prolific for steel.

Oshpur is 1000 kilometres closer to Urumqi than the nearest seaborne supply of thermal and coking coal.

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Mon, 12 Mar 2012 16:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147071/view-resources-finalises-acquisition-of-kyrgyzstan-coal-projects--26310.html
<![CDATA[News - View Resources is encouraged by coal samples from Kyrgyzstan project ]]> http://www.proactiveinvestors.com.au/companies/news/147070/view-resources-is-encouraged-by-coal-samples-from-kyrgyzstan-project-24515.html View Resources (ASX: VRE) has received assay results from 14 coal samples from Bel-Alma and Sary-Mogol projects in Kyrgyzstan.

The previous owners of the Sary-Mogol project were producing and selling thermal coal from an open cut mine.

Although early days, independent geologist, Micromine Consulting Pty Ltd has indicated the presence of relatively high energy thermal coal at the soon to be acquired projects.

In mid-November, View Resources entered a binding Heads of Agreement to acquire 100% of the shares in Hong Kong-based Oshpur, which holds 90% interests in the Sary-Mogol and Bel-Alma projects.

Twelve of the 14 samples taken returned calorific values above 5,500 kilocalories per kilogram on an as received basis, including 4 samples above 7,000 kilocalories per kilogram and a maximum value of 7,284 kilocalories per kilogram.

Eleven out of 14 samples contained less than 15% ash, including five samples with less than 5% ash.

The company has completed its technical due diligence on the two projects.

These are surface samples of weathered coal and further exploration drilling and coal sampling, especially of fresh coal, is required to determine the representative characteristics of the coal seams at each project.


Bel Alma

The Bel-Alma project is a potentially large tonnage, high quality thermal coal project, covering an area of 278 hectares with historical samples returning calorific values between 6500 kilocalories and 7150 kilocalories.

Bel-Alma is located in the Naukat district, 70 kilometres from the Kyzyl-Kiya railway station and 70 kilometres from Osh, one of the largest cities in Kyrgyzstan, where the proposed Trans-Euro railway will be constructed.


Sary-Mogol

Situated within 30 kilometres from a major freight terminal and accessible by sealed road, Sary-Mogol is well placed in regards to transport infrastructure.

The project covers 8 hectares, with two coal seams visible from the surface that have been subject to previous open cut mining.

Negotiations are underway to sell the stockpile of coal available on the site, which could result in early cash flows.

 

Settlement of Acquisition

Subject to shareholder approval, the deal will be funded through staged payments of US$2.6 million cash and the issue of 100 million shares and 500,000 performance shares in View.

The acquisition is now scheduled for completion on 4 February 2012. 

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Wed, 25 Jan 2012 16:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147070/view-resources-is-encouraged-by-coal-samples-from-kyrgyzstan-project-24515.html
<![CDATA[News - View Resources advances Kyrgyzstan coal acquisition, WA nickel exploration permit ]]> http://www.proactiveinvestors.com.au/companies/news/147069/view-resources-advances-kyrgyzstan-coal-acquisition-wa-nickel-exploration-permit-23224.html View Resources' (ASX: VRE) independent geologist Micromine Consulting has conducted additional coal sampling after making site visits to both the Bel-Alma and Sary-Mogol projects in Kyrgyzstan.

The company has also updated the status of a new nickel exploration licence in in the Eastern Goldfields of Western Australia.

On November 15 the company entered a binding Heads of Agreement to acquire 100% of the shares in Hong Kong-based Oshpur, which holds 90% interests in the Sary-Mogol and Bel-Alma projects.

Subject to shareholder approval, the deal will be funded through staged payments of US$2.6 million cash and the issue of 100 million shares and 500,000 performance shares in View.

A total of 10 samples were taken from the Bel-Alma project, which will be sent to ALS laboratories in Mongolia for analysis and a further four samples were taken from the Sary-Mogol project.

These samples add to the historical technical information that was already available to the company and Micromine will compile and review all of this data as part of its independent geological review.

Micromine will also be assessing the proximity of these projects to existing infrastructure and the implications for mining. Sealed roads run adjacent to both properties and link directly into China.

The acquisition is expected to be completed by 31 January 2012.

Status of new Nickel exploration licence

The company’s nickel exploration licence application E39/1641 located in the Eastern Goldfields has been recommended for grant and is currently progressing through the Native Title Process. The tenement is be expected to be granted in early 2012.

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Thu, 08 Dec 2011 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147069/view-resources-advances-kyrgyzstan-coal-acquisition-wa-nickel-exploration-permit-23224.html
<![CDATA[News - View Resources dials into Kyrgyzstan coal sector through acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/147068/view-resources-dials-into-kyrgyzstan-coal-sector-through-acquisition-22085.html View Resources (ASX: VRE) is set to move into the coal space, with the acquisition of a 90% interest in two prospective coal assets in southern Kyrgyzstan.

The company has entered a binding Heads of Agreement to acquire 100% of the shares in Hong Kong-based Oshpur, which holds 90% interests in the Sary-Mogol and Bel-Alma projects.

Subject to shareholder approval, the deal will be funded through staged payments of US$2.6 million cash and the issue of 100 million shares and 500,000 performance shares in View.

Both projects are located close to the border of China, which is a likely end user of any coal produced, providing good access to a potential market.

In addition to the two projects included in the acquisition, the vendors of the projects will assist View in securing additional coal projects in Kyrgyzstan.

Bel-Alma

The Bel-Alma project is a potentially large tonnage, high quality thermal coal project, covering an area of 278 hectares with historical samples returning calorific values between 6500 kilocalories and 7150 kilocalories.

Bel-Alma is located in the Naukat district, 70 kilometres from the Kyzyl-Kiya railway station and 70 kilometres from Osh, one of the largest cities in Kyrgyzstan, where the proposed Trans-Euro railway will be constructed.

However, View will be required to extend an existing road by 15 kilometres in order to reach the site, which is currently only accessible by helicopter. This is included in planned works for year 1.

The exploration licence and works agreement for Bel-Alma are valid until July 26, 2013.

Sary-Mogol

Situated within 30 kilometres from a major freight terminal and accessible by sealed road, Sary-Mogol is well placed in regards to transport infrastructure.

The project covers 8 hectares, with two coal seams visible from the surface that have been subject to previous open cut mining.

View’s top priority is to undertake an exploration program to establish a JORC Resource for the project.

Negotiations are underway to sell the stockpile of coal available on the site, which could result in early cash flows.

Sary-Mogol has a development/production licence that is valid until July 28, 2016, with a yearly works agreement due for renewal before January 31, 2012.

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Tue, 15 Nov 2011 16:05:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147068/view-resources-dials-into-kyrgyzstan-coal-sector-through-acquisition-22085.html
<![CDATA[News - View Resources cans African potash foray on due diligence concerns ]]> http://www.proactiveinvestors.com.au/companies/news/147067/view-resources-cans-african-potash-foray-on-due-diligence-concerns-20124.html View Resources (ASX: VRE) a couple of weeks ago attracted much investor interest after announcing that the company had been offered the opportunity to farm in to a potash project in the Congolese Basin, located in West Africa.

View has now updated the market on the proceedings, and advises that it has been unable to reach satisfaction with the legal due diligence on the opportunity.

As such, View has terminated the agreement and will be refunded the $200,000 deposit that has been paid.

The company said that it continues to actively review and seek existing complementary and non-complementary assets, investments and businesses.

Highlighting the diversification move, View said that the Company has been considering a number of opportunities in the coal, iron ore, potash, phosphate and other mineral sectors.

The company added on these that at the current date no commercial discussions are at a stage that would warrant any disclosure.

 

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Wed, 28 Sep 2011 10:38:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147067/view-resources-cans-african-potash-foray-on-due-diligence-concerns-20124.html
<![CDATA[News - View Resources shares spike on potash opportunity, investor hunger for sector continues ]]> http://www.proactiveinvestors.com.au/companies/news/147066/view-resources-shares-spike-on-potash-opportunity-investor-hunger-for-sector-continues-19622.html Investors scrambled to get into View Resources' (ASX: VRE) stock today, as the company announced at the market open some very interesting potash news.

View Resources announced that the company has been offered the opportunity to farm in to a potash project in the Congolese Basin, located in West Africa.

The details of the transaction are subject to and conditional upon the legal and technical due diligence, with the company having already started the process on the single tenement which comprises the project.

View Resources has paid a deposit of A$200,000 as part of the agreement, which is fully refundable in the event that the company is not satisfied with the results of the legal due diligence.

The company now has 10 business days to complete legal due diligence and 45 days to complete technical due diligence from the execution date of the agreement.

Full details of the project and the terms of the transaction will be released to the market upon the completion of the due diligence process.

View Resources last changed hands 21% higher at $0.017 in afternoon trade, after hitting a $0.022 peak.

 

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Wed, 14 Sep 2011 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147066/view-resources-shares-spike-on-potash-opportunity-investor-hunger-for-sector-continues-19622.html