http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 13 Dec 2017 12:42:01 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Winmar Resources snaps up new asset ]]> http://www.proactiveinvestors.com.au/companies/news/188396/winmar-resources-snaps-up-new-asset-188396.html Winmar Resources Ltd (ASX:WFE) is preparing to reveal a new project acquisition, and the ASX has granted the company a trading halt to prepare details.

Winmar recently appointed Jason Brewer as a non-executive director and chairman.

Brewer has over 20 years’ experience in international mining, financial markets and investment banking.

The halt will remain in place until the opening of trade on Friday 8th December 2017, or earlier if an announcement is made to the market.

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Thu, 07 Dec 2017 08:58:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188396/winmar-resources-snaps-up-new-asset-188396.html
<![CDATA[News - Winmar Resources targets cash raise to advance Spanish gold-silver-copper-zinc asset ]]> http://www.proactiveinvestors.com.au/companies/news/184871/winmar-resources-targets-cash-raise-to-advance-spanish-gold-silver-copper-zinc-asset-184871.html Winmar Resources Ltd (ASX:WFE) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

Winmar's shares last traded at $0.001.

The company has an exploration focus on gold-silver-copper-zinc in Spain.

The halt will remain in place until the opening of trade on Wednesday 4th October 2017, or earlier if an announcement is made to the market.

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Mon, 02 Oct 2017 09:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/184871/winmar-resources-targets-cash-raise-to-advance-spanish-gold-silver-copper-zinc-asset-184871.html
<![CDATA[News - Winmar Resources heads to market ]]> http://www.proactiveinvestors.com.au/companies/news/173022/winmar-resources-heads-to-market-173022.html Winmar Resources (ASX:WFE) has been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Wednesday 15th February 2017, or earlier if an announcement is made to the market.

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Mon, 13 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173022/winmar-resources-heads-to-market-173022.html
<![CDATA[News - Winmar Resources shares ride higher on commencing drilling in Spain ]]> http://www.proactiveinvestors.com.au/companies/news/172897/winmar-resources-shares-ride-higher-on-commencing-drilling-in-spain-172897.html Winmar Resources’ (ASX:WFE) shares were trading 25%  higher intra-day after commencing a drilling program at the Lomero gold-silver-copper-zinc deposit in Andalucia, southern Spain.

The Lomero mine property is located just 8 kilometres west of the 100 million tonne MATSA mine and 4.6 million tonnes per year treatment plant operated by Trafigura and Mubadala.

Before it closed in 1991, the Lomero mine produced 2.6 million tonnes of massive sulphide at an average grade of 5.0 g/t gold and 1.2% copper.

The Lomero deposit remains open at depth and along strike.

Winmar started drilling at Lomero following the finalisation of earthworks for drill rig access, delayed by one week due to rain.

Interestingly, Winmar has brought forward its drilling, initially planned for year two, into its revised year one works program following the successful acquisition of drill datasets relating to over 10,000 metres of previous drilling.

Previous drill intercepts in the eastern lobe of Lomero include:

- 14.65 metres at 8.5 g/t gold and 11.2% zinc;

- 16.5 metres at 5.9 g/t gold and 2.4% copper; and

- 6.25 metres at 7.0 g/t gold and 3.5% zinc.

Winmar’s first drill programme at Lomero will target four positions peripheral to the high grade eastern lobe of the deposit ahead of an updated independent resource estimation.

In addition, the company will seek fresh samples of mineralisation for metallurgical test-work and input into an intended scoping or pre-feasibility study.

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Thu, 09 Feb 2017 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172897/winmar-resources-shares-ride-higher-on-commencing-drilling-in-spain-172897.html
<![CDATA[News - Winmar Resources starts the year trading strongly ]]> http://www.proactiveinvestors.com.au/companies/news/171067/winmar-resources-starts-the-year-trading-strongly-171067.html Furthermore, the company’s share price is currently trading at its 52-week high at $0.008.

The company’s flagship asset is the Lomero gold-silver-copper-zinc project located in Andalucia, Spain.

In August 2016, Winmar entered a farm-in joint venture for Lomero allowing it to earn up to 70% interest in the tenements over a three year period.

During December, the government authority approved the Winmar’s work plan for the Lomero project and confirmed that the application for drilling will be approved in time for drilling to start in January.

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Tue, 03 Jan 2017 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171067/winmar-resources-starts-the-year-trading-strongly-171067.html
<![CDATA[News - Winmar Resources Ltd among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/147363/winmar-resources-ltd-among-asx-gainers-intra-day-68686.html Winmar Resources Ltd among ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Winmar Resources Ltd WFE $0.002 100% 2,000,000 VDM Group Ltd VMG $0.005 66.7% 681,684 UIL Energy Ltd UIL $0.095 43.9% 12,000 Austin Engineering Ltd ANG $0.175 34.6% 548,051 Emerald Resources NL EMR $0.043 34.4% 5,181,154 Perpetual Resources Ltd PEC $0.040 33.3% 29,900 Australian Vanadium Ltd AVL $0.013 30% 95,903,165 Brain Resource Ltd BRC $0.170 25.9% 205,931 Hawkley Oil And Gas Ltd HOG $0.005 25% 410,000 Deep Yellow Ltd DYL $0.005 25% 500,000

 

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Wed, 18 May 2016 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147363/winmar-resources-ltd-among-asx-gainers-intra-day-68686.html
<![CDATA[News - Winmar Resources Ltd among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/147362/winmar-resources-ltd-among-asx-gainers-intra-day-67855.html Monday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Winmar Resources Ltd WFE $0.002 100% 887,500 Sovereign Metals Ltd SVM $0.067 81.08% 70,000 Prospect Resources Ltd PSC $0.009 80% 46,055,328 Anglo Australian Resources NL AAR $0.011 37.50% 883,471 Mod Resources Ltd MOD $0.034 30.77% 39,936,034 Lithex Resources Ltd LTX $0.058 26.09% 1,617,476 Resource Base Ltd RBX $0.005 25% 100,000 IMX Resources Ltd IXR $0.005 25% 679,000 Invion Ltd IVX $0.006 20% 54,571 Rumble Resources Ltd RTR $0.018 20% 823,198

 

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Mon, 04 Apr 2016 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147362/winmar-resources-ltd-among-asx-gainers-intra-day-67855.html
<![CDATA[News - Winmar Resources among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/147361/winmar-resources-among-asx-gainers-intra-day-67275.html Tuesday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Winmar Resources WFE $0.004 100% 33,869,161 Segue Resources SEG $0.002 100% 1,499,000 Alicanto Minerals AQI $0.080 86.05% 1,040,000 Aus Tin Mining ANW $0.004 33.33% 500,000 Moreton Resources MRV $0.004 33.33% 3,667,447 Hawkley Oil and Gas HOG $0.004 33.33% 3,508,593 XPD Soccer Gear Group XPD $0.170 30.77% 1,046,923 Rectifier Technologies RFT $0.009 28.57% 3,150,000 Iron Road IRD $0.098 27.27% 19,000 West African Resources WAF $0.072 26.32% 3,812,565

 

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Tue, 01 Mar 2016 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147361/winmar-resources-among-asx-gainers-intra-day-67275.html
<![CDATA[News - Winmar Resources increases stake in Hamersley ]]> http://www.proactiveinvestors.com.au/companies/news/147360/winmar-resources-increases-stake-in-hamersley-60558.html Winmar Resources (ASX:WFE) has increased its interest in the Hamersley Iron Project in Western Australia to 70% from 51% under the joint venture agreement with Lockett FE Pty Ltd.

In addition, Lockett has agreed to transfer to Winmar its full participating interest in the northern portion of the Exploration Licence 47/1617.

Hamersley is an advanced exploration target with major exploration upside and development potential.

In November 2014, the company was granted Mining Lease 47/1450 over the Winmar Deposit, which has a Resource of 343.2 million tonnes at 54.5% iron.

Previous drilling programs within the Mining Lease confirm that the mineralisation remains open in most directions, particularly to the north.

The company plans to conduct infill and extensional drilling of the Deposit to further understand the characteristics of the ore body and upgrade the deposit.

In addition, the mine gate scoping study indicates that mine infrastructure and camps will be located adjacent to the deposit and within the boundaries of the Mining Lease.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 09 Feb 2015 07:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147360/winmar-resources-increases-stake-in-hamersley-60558.html
<![CDATA[News - Winmar Resources outlines direct shipping iron ore potential at Hamersley ]]> http://www.proactiveinvestors.com.au/companies/news/147359/winmar-resources-outlines-direct-shipping-iron-ore-potential-at-hamersley-49501.html Winmar Resources (ASX: WFE) together with Cazaly Resources (ASX: CAZ) have revealed positive results of metallurgical test work conducted by the Winmar Exploration Joint Venture (WEJV) at the Hamersley iron project in the Pilbara, Western Australia.

This metallurgical test work provides confidence that the material can be marketed and sold as direct shipping ore after dry crushing and screening the material, or additional de-sliming to further upgrade the product.

The test work used rock chip samples from the October 2012 Reverse Circulation drill program which resulted in an upgraded mineral resource of 343.2 million tonnes at 54.5% iron.

The aim of the test work was to further define product specifications of the shallow ore body in the southwest corner of the deposit, and for use in scoping studies to further understand project economics.

Head assay results from independent mineral processing consultant, Nagrom, indicate that the channel iron deposit grade is significantly higher and more consistent than material previously tested.

The simple dry crushing and screening of chip samples produced an average grade of 58.5% iron, with combined silica and alumina 13% and low levels of other impurities.

WEJV is planning a similar test work program using diamond core samples sourced from future pre-feasibility drilling to confirm these results and for a possible resource upgrade.

 

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Fri, 25 Oct 2013 14:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147359/winmar-resources-outlines-direct-shipping-iron-ore-potential-at-hamersley-49501.html
<![CDATA[News - Winmar Resources delivers maiden Indicated Iron Resource at Hamersley ]]> http://www.proactiveinvestors.com.au/companies/news/147358/winmar-resources-delivers-maiden-indicated-iron-resource-at-hamersley-43594.html Winmar Resources (ASX: WFE) infill drilling campaign at the Hamersley iron project in the Pilbara region of Western Australia has delivered a maiden Indicated Resource.

Hamersley is located in the Tom Price Region of the Pilbara, in close proximity to Fortescue Metals’ (ASX: FMG) Solomon project and Rio Tinto’s (ASX: RIO) Marandoo and Brockman mines.

The Indicated Resource is 42.6 million tonnes at 55.2% Fe (57.3% CaFe) and was conducted by RungePincockMinarco, with Inferred 300.6 million tonnes at 54.5% iron (58.0% CaFe) for a total Resource of 343.2 million tonnes at 54.5% iron (57.9% CaFe).

Importantly for Winmar is that the Indicated portion of resource is near surface, which opens up the potential for future DSO production, which brings cash flows. The company will now focus on this part of the resource with Pre-Feasibility Studies and infrastructure discussions underway.

Winmar has also outlined that talks are underway with multiple parties to identify and collaborate on strategic infrastructure solutions in line with the project’s development plan. Both road and rail opportunities are being pursued with associated port opportunities.


Joint Venture

Winmar recently satisfied the expenditure requirements of its Farm-In and Joint Venture with a subsidiary of Cazaly Resource (ASX: CAZ) for Hamersley.

The joint venture between Winmar and Cazaly was subsequently formed on 11 February 2013 with respective participating interests of the parties: Winmar 51% and Cazaly 49%. Winmar continues to manage the project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 22 May 2013 16:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147358/winmar-resources-delivers-maiden-indicated-iron-resource-at-hamersley-43594.html
<![CDATA[News - Winmar Resources earns 51% interest in Hamersley Iron project ]]> http://www.proactiveinvestors.com.au/companies/news/147357/winmar-resources-earns-51-interest-in-hamersley-iron-project-39390.html Winmar Resources (ASX:WFE) has earned a 51% interest in the Hamersley Iron Ore project with a joint venture with Cazaly Iron.

The Winmar Exploration Joint Venture will have Winmar with a 51% interest and Cazaly with 49% participating interest, with Winmar managing the project.

The joint venture could potentially expedite the exploration and development of the asset, which has advanced exploration target.

Winmar has done a series of work programs at the Hamersley project, including a $2.2 million exploration program completed last year.

This included 20 hole, 4012 metre reverse circulation drilling program, and resulted in a major resource upgrade.

The current inferred mineral resource is estimated at 368 million tonnes at 54.7% Fe, which includes a channel iron deposit zone of 343.3 million tonnes at 55.3% Fe.

It also completed the latest phase of drilling at the project last October, which included a 10-hole, 1500 metre reverse circulation program, designed to defined the extent of shallow high grade mineralisation in the southwest of the project area.

It is hoping to convert a portion of the resource to JORC indicated category.
Winmar also has started advanced metallurgical work, environmental assessments and Native Title negotiations.

The Hamersley project is located in the Tom Price region in the Pilabra and close to Fortescue Metals' (ASX:FMG) Solomon project and Rio Tinto's Marandoo and Brockman mines.

The resource at Hamersley remains open in several directions with significant intercepts to the southwest and northeast on the edge of the current drill area.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Feb 2013 14:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147357/winmar-resources-earns-51-interest-in-hamersley-iron-project-39390.html
<![CDATA[News - Winmar Resources shares placed in pre open, resource upgrade pending ]]> http://www.proactiveinvestors.com.au/companies/news/147356/winmar-resources-shares-placed-in-pre-open-resource-upgrade-pending-32534.html Winmar Resources (ASX: WFE) is preparing to announce a Resource Upgrade, with the ASX granting the company a trading halt and placing it's shares in pre-open.

Winmar did not elaborate which project the halt referred to, but the company is focused on developing a major iron ore project in Pilbara region of Western Australia.

The company though in a recent presentation said that a reverse circulation drilling campaign at the Hamersley project was targeting a significant Resource upgrade - which is due in the September 2012 quarter.

Recent high grade results at the project include; 74 metres at 59.15% iron (60.47% Calcined Fe) from 28 metres in PLRC0162, within a CID zone of 102 metres thickness; and 28 metres at 57.03% iron (60.63% Calcined Fe) in PLRC0145 and mineralised Channel Iron Deposit (CID) zones of up to 90 metres at 51.63% iron (55.98% Calcined Fe) in PLRC0154.

Another plus for the company is a fully-funded $2.2 million exploration and development budget committed for 2012.

The halt will last until the earlier of an announcement being made to the market or the open of trade on Wednesday 22nd August.

 

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Mon, 20 Aug 2012 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147356/winmar-resources-shares-placed-in-pre-open-resource-upgrade-pending-32534.html
<![CDATA[News - Winmar Resources unfurls spectacular high grade iron result in Pilbara, resource upgrade on the way ]]> http://www.proactiveinvestors.com.au/companies/news/147355/winmar-resources-unfurls-spectacular-high-grade-iron-result-in-pilbara-resource-upgrade-on-the-way-31588.html Winmar Resources (ASX: WFE) is definitely in the right location – the mineral-rich Pilbara region of Western Australia – as demonstrated by latest intercepts including 74 metres at 59.15% iron (60.47% Calcined iron) from 28 metres from drilling at the Hamersley Project.

Latest drill results, which have delivered not only high grade but strong widths, are part of a "significant resource upgrade" due in the September quarter 2012.

Hamersley is situated in a prime location, adjacent to major operating mines and infrastructure. The project is in close proximity to Fortescue Metals’ (ASX: FMG) Solomon project and Rio Tinto’s (ASX: RIO) Marandoo and Brockman mines.

Winmar received the stellar results from the remaining nine holes of its recently completed 20-hole, 4012 metre reverse circulation drilling program.

The shallow high grade intercept was discovered within a broader channel iron deposit (CID) zone of 102 metres at 56% iron (58.33% Calcined iron).

Other notable intersections include 28 metres at 57.62% iron (60.21% Calcined iron) in and 32 metres at 56.81% iron (60.57% Calcined iron).

The majority of holes on the program intersected CID material with the higher grade and thicker zones occurring on the northern side of the deposit, and 13 holes returned significant intercepts. The project remains open in most directions.

Shallow high grade detrital mineralisation was also encountered above the CID in three holes in the southwest of the deposit adjacent to hole that returned the intersection of 74 metres at 59.15% iron.

This shallow high grade CID and detrital zone will be the initial focus of development plans at the project, and may provide an early pathway to production of beneficiated material and direct shipping ore.


Hamersley potential

The Hamersley Project has an exploration target of 350 to 400 million tonnes at 54% to 56% iron.

The Inferred JORC Resource of 241.6 million tonnes at 54.3% iron also includes a CID zone of 169 million tonnes at 55.6% iron.

The northern and southern targets have returned rock chips of over 60% iron.

Hamersley is situated in a prime location, adjacent to major operating mines and infrastructure. The project is in close proximity to Fortescue Metals’ (ASX: FMG) Solomon project and Rio Tinto’s (ASX: RIO) Marandoo and Brockman mines.

Importantly, Winmar is in a sound financial position with strong support from the company’s strategic investment partner PX Steel.

The company has committed to a fully funded A$2.2 million exploration and development budget for 2012.


Pathway to ownership

Winmar is in the process of earning a 51% interest in Hamersley form Cazaly Iron in exchange for a total expenditure of $10 million, comprising a $4 million upfront payment and $6 million in exploration expenditure.

The company has spent $5 million of the total $6 million on exploration to date and is expecting to complete its earn-in interest in the project by mid-2013.



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, 23 Jul 2012 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147355/winmar-resources-unfurls-spectacular-high-grade-iron-result-in-pilbara-resource-upgrade-on-the-way-31588.html
<![CDATA[News - Winmar Resources extends iron ore deposit by up to 800 metres at Hamersley ]]> http://www.proactiveinvestors.com.au/companies/news/147354/winmar-resources-extends-iron-ore-deposit-by-up-to-800-metres-at-hamersley-30101.html Winmar Resources (ASX: WFE) has intersected mineralisation up to 800 metres from the existing resource at the Channel Iron Deposit, within the Hamersley Iron Ore Project.

Hamersley is located in Western Australia’s Pilbara region, 50 kilometres northeast of Tom Price and immediately south of Fortescue Metals Group’s (ASX: FMG) 3.1 billion tonne at 56.5% Solomon iron project.

Other projects in close proximity to Hamersley include Rio Tinto’s (ASX: RIO) Marandoo and Brockman mines.

Step out drilling at Hamersley is underway with the aim of increasing the existing JORC Resource, which comprises 241.6 million tonnes at 54.3% iron, including the main Channel Iron Deposit zone of 169.1 million tonnes at 55.6% iron.

To date, 10 holes of a planned 40 reverse circulation holes have been drilled, with nine of these intersecting channel iron deposits.

In addition, Winmar will undertake 600 metres of diamond drilling to provide core for metallurgical test work.

Winmar is undertaking a $2.2 million exploration and development program at Hamersley in 2012, with the aim of advancing the project towards Prefeasibility stage.

This program is part of a joint venture agreement with Cazaly Resources (ASX: CAZ), under which Winmar can earn up to a 51% interest in the project.



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 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147354/winmar-resources-extends-iron-ore-deposit-by-up-to-800-metres-at-hamersley-30101.html
<![CDATA[News - Winmar Resources to bank $3m from PXSteel International ]]> http://www.proactiveinvestors.com.au/companies/news/147353/winmar-resources-to-bank-3m-from-pxsteel-international-24419.html Winmar Resources (ASX: WFE) will receive $3 million from PXSteel International, with the company subscribing for 15 million ordinary shares at $0.20 per share.

This is at a 66.7% premium to current share price of Winmar of $0.12.

PXSteel is part of Jiang Xi Ping Steel Industrial Co., Ltd (Ping Steel).  It is ranked 34th in the ‘Top Private Enterprises’ in China.

According to its reports, it currently has assets of 25 billion Yuan (approximately A$4 billion) and annual production capacity of 10 million tonnes of steel.

Funds raised by Winmar will fast track the current Winmar exploration program under its earn-in obligations under a farm-in agreement with Cazaly Iron Pty Ltd (Cazaly Iron), wholly owned subsidiary of Cazaly Resources Limited (ASX:CAZ).

Tellingly, in terms of exploration potential, the Hamersley Project is strategically located immediately south of the Fortescue Metals Group's (ASX:FMG) Solomon project.

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Mon, 23 Jan 2012 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147353/winmar-resources-to-bank-3m-from-pxsteel-international-24419.html
<![CDATA[News - Dempsey Minerals withdraws offer for Winmar Resources ]]> http://www.proactiveinvestors.com.au/companies/news/147352/dempsey-minerals-withdraws-offer-for-winmar-resources-23685.html Winmar Resources (ASX: WFE) has been notified by Dempsey Minerals (ASX:DMI) that it does not intend to proceed with its announced takeover bid for all shares in Winmar.

The issue of shares to PXSteel was cited as the reason for the withdrawal of the offer.

On 23 November 2011 Dempsey announced its intention to make an off‐market takeover bid for all of the shares in Winmar. On 29 November 2011 Winmar announced that it had agreed to issue shares to PXSteel International (Asia) Corporation Limited.

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Wed, 28 Dec 2011 09:26:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147352/dempsey-minerals-withdraws-offer-for-winmar-resources-23685.html
<![CDATA[News - Winmar Resources executes farm-in to Hamersley Iron Ore Project in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/147351/winmar-resources-executes-farm-in-to-hamersley-iron-ore-project-in-the-pilbara--22941.html Winmar Resources (ASX: WFE) will gain operational control of the Hamersley Iron Ore Project in the Pilbara after accelerating plans to earn up to a 51% stake with a farm-in and joint venture agreement with Cazaly Iron (ASX: CAZ).

The project lies approximately 50 kilometres northeast of Tom Price in Western Australia and immediately south of Fortescue Metals Group’s (ASX FMG) 3.1 billion tonne at 56.5% Solomon iron project.

Winmar can earn its 51% share by spending up to A$6 million, of which it has already spent around $2.7 million. A minimum of $2 million must be spent each year under the agreement.

In September the company announced its first significant results from outside the Winmar Channel at the Hamersley Project, with a reverse circulation drill hole returning an intersection of 28 metres at 50.9% iron.

Prior to the new discovery, drilling at the Winmar Deposit returned results of 84 metres at 54.8% iron, 40 metres at 56.2% and 36 metres at 56.2%.

Winmar also reported the thickest ever recorded intersection of 92 metres at 54.2% iron from the same round of drilling at the deposit.

These results were in addition to the Winmar Deposit’s current Inferred JORC Resource of 241.6 million tonnes at 54.3% iron.

The Hamersley Project is strategically located among existing infrastructure, including major roads and third party railway lines crossing through the Hamersley tenement, and emerging new projects.


Exploration and Project Management Consultants

Winmar has appointed Perth-based Terra Search as the exploration and project management consultants for the Hamersley Project.

Terra Search has worked on iron ore projects across Western Australia including managing exploration activities across more than 50 of Dynasty Metals Australia’s tenements.

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Fri, 02 Dec 2011 16:52:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147351/winmar-resources-executes-farm-in-to-hamersley-iron-ore-project-in-the-pilbara--22941.html
<![CDATA[News - Winmar Resources navigates takeover offer from Dempsey with capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/147350/winmar-resources-navigates-takeover-offer-from-dempsey-with-capital-raising-22710.html Pilbara focused Winmar Resources (ASX: WFE) has deftly side-stepped a takeover offer from Dempsey Minerals (ASX:DMI), announcing $6.65 million in funding from Chinese steel maker PXSteel, part of the Jiang Xi Ping Steel Industrial Co., steel group.

Winmar has already placed 6.5 million ordinary shares to PXSteel at $0.10 per share raising $650,000 in a first trance. 

It intends to raise a further $3 to $6 million in a second tranche offering to PXSteel placing from 15 million and up to 30 million ordinary shares in the capital of the company at $0.20 per share.

The capital raising will swell cash at bank for Winmar enabling it to intensify its exploration program and metallurgical work at the Hamersley Iron Ore Project in the Pilbara.

Winmar last traded at $0.087.

Ping Steel was established in 1954 and was ranked 34th in the ‘Top Private Enterprises’ in China. According to its reports, it currently has assets of 25 billion Yuan (approximately A$4 billion) and annual production capacity of 10 million tonnes of steel.

Funds raised will be used to fast track the current Winmar exploration program and its earn-in obligations under a farm-in agreement with Cazaly Iron Pty Ltd (Cazaly Iron), wholly owned subsidiary of Cazaly Resources Limited (ASX:CAZ).

Takeover offer

DMI recently announced its intention to make a conditional off-market scrip bid for all the shares in the company. The offer consideration will be 4 DMI shares for every 7 shares of Winmar.

Winmar has previously reported a JORC resource estimate of 241.6 milion tonnes at 54.3% iron at its Hamersley Iron Ore Project. The exploration target for this project has been upgraded to 350-400 million tonnes at 54-56% iron.

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Tue, 29 Nov 2011 10:32:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147350/winmar-resources-navigates-takeover-offer-from-dempsey-with-capital-raising-22710.html
<![CDATA[News - Winmar Resources in trading halt pending substantial transaction announcement ]]> http://www.proactiveinvestors.com.au/companies/news/147349/winmar-resources-in-trading-halt-pending-substantial-transaction-announcement--22593.html Winmar Resources (ASX: WFE) has been granted a trading halt by the ASX pending the release of an announcement about a substantial transaction in relation to a capital raising.

The company expects to make an announcement on or before the commencement of trading on Tuesday 29 November, 2011.

On 23 November Dempsey Minerals (ASX: DMI), which only listed on the ASX this year, launched an off-market takeover of Winmar Resources (ASX: WFE).

The consideration is four Dempsey shares for every seven Winmar, with Dempsey already stating reasons why Winmar should accept the offer.

These include:

- Winmar has spent almost all of the $7 million it raised at the start of the year and requires an urgent cash injection to continue its development of the Hamersley Iron Ore Project and other exploration activities.

- Winmar announced at its recent AGM on 22 November 2011 that the funding deal with iron ore miner VS Lad Group announced almost 5 months ago (at the end of June 2011) was 'for all practical purposes void given the lack of any communication from them for the past few months'.

It appears Winmar will have improved chances of raising capital under the control of Dempsey.

If Dempsey acquired 100% of Winmar under the offer, Winmar shareholders would hold around 57.5% of the enlarged Dempsey.

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Fri, 25 Nov 2011 15:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147349/winmar-resources-in-trading-halt-pending-substantial-transaction-announcement--22593.html
<![CDATA[News - Winmar Resources hits thickest intersection to date at Hamersley Iron Ore Project ]]> http://www.proactiveinvestors.com.au/companies/news/147348/winmar-resources-hits-thickest-intersection-to-date-at-hamersley-iron-ore-project-18972.html Winmar Resources (ASX: WFE) is already eyeing a resource upgrade from the Winmar Deposit at the Hamersley Iron Ore Project, after a string of high grade intersections.

The project lies approximately 50 kilometres north east of the Tom Price township in the Pilbara Region of Western Australia.  It is located existing infrastructure and lies immediately south of Fortescue Metal's (ASX:FMG) Solomon project.

The company hit the thickest recorded intersection to date, a broad 92 metres at 54.2% iron.

Importantly - the company is positioned for a future upgrade to last months Inferred Resource of 241.6 million tonnes at 54.3% iron, due to the latest results falling outside of the resource model.

These highlights include; 84 metres at 54.8% iron, 40 metres at 56.2% iron, and 36 metres at 56.2% iron. The assays continue to confirm high grade intersections of high quality bedded and channel iron mineralisation.

Another plus is the mineralisation remains open.

With this in mind, the company has a revised project Exploration Target of 350 to 400 million tonnes at 54% to 56% iron.

The Hamersley Iron Ore Project is a joint venture with Cazaly Resources (ASX: CAZ), with Winmar earning an initial 51%.

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Thu, 25 Aug 2011 15:55:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147348/winmar-resources-hits-thickest-intersection-to-date-at-hamersley-iron-ore-project-18972.html
<![CDATA[News - Winmar Resources hits more iron outside current Resource at Hamersley Project ]]> http://www.proactiveinvestors.com.au/companies/news/147347/winmar-resources-hits-more-iron-outside-current-resource-at-hamersley-project-17535.html Winmar Resources (ASX: WFE) has received further strong results from the 12,000 metre reverse circulation (RC) drilling extension and infill program at the Hamersley Iron Ore Project.

The company is expecting an update of the JORC Resource estimate in the third quarter of 2011. Results are from outside the current resource area as well as infill.

Highlights include:

- 44 metres at 57.0% iron (Fe) (59.6% CaFe);
- 44 metres at 56.6% Fe (60.4% CaFe); and
- 36 metres at 56.5% Fe (59.9% CaFe).

The RC drilling program has now been completed. Additional step-out holes were added to the program to capitalise on the early success of the program and to maximise future resource upgrades.

Results from about half the program have now been received with the latest batch of results continuing the string of success at the project.

This latest batch comprises results primarily from the northern end of the prospect where the coincident gravity anomaly is weakest. Results show excellent thickness and grade and in some cases, mineralisation remains open.

Drilling at the project, based in the Pilbara region of Western Australia, is in conjunction with Cazaly Resources Limited (ASX:CAZ) whereby Winmar has an earn-in 51% stake.

Winmar entered into an agreement with Cazaly for the sole and exclusive right to earn-in the initial stake with incurring expenses of $6 million for three years at the tenements or by funding a Definitive Feasibility Study.

The current Inferred Resource Estimate for Winmar is 143 million tonnes at 52.6% Fe (55.6% CaFe).

Field activities have now switched to diamond drilling to obtain a bulk sample to commence metallurgical test work. One PQ-sized core hole has so far been completed.

Test work completed by Cazaly in 2010 indicated good potential for successful beneficiation of the CID material. This program will involve a more comprehensive range of tests across the full strike of the deposit.

An Order Of Magnitude Study will commence in the third quarter of 2011 and review potential development options for the project.

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Thu, 30 Jun 2011 14:23:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147347/winmar-resources-hits-more-iron-outside-current-resource-at-hamersley-project-17535.html
<![CDATA[News - Winmar Resources in pre-open pending initial drilling results announcement ]]> http://www.proactiveinvestors.com.au/companies/news/147346/winmar-resources-in-pre-open-pending-initial-drilling-results-announcement-15617.html Winmar Resources (ASX: WFE) has been granted a trading halt by the ASX pending an announcement regarding initial drilling results.

The company did not elaborate on the pending announcement, but Winmar has an earn-in 51% stake at the Hamersley Iron Ore Project based in the Pilbara region of Western Australia.

Winmar entered into an agreement with Cazaly Iron Pty for the sole and exclusive right to earn-in the initial stake with incurring expenses of $6 million for three years at the tenements or by funding a Definitive Feasibility Study.

Previous exploratory work conducted by Cazaly at the Winmar Deposit last year intersected a maiden Inferred Resource of 143 million tonnes at 52.6% Iron.

The project comprises two holdings, an exploration licence covering 58 square kilometres and a mining lease of 10 square kilometres covering the Winmar Deposit.

 

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Tue, 19 Apr 2011 16:05:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147346/winmar-resources-in-pre-open-pending-initial-drilling-results-announcement-15617.html