Proactiveinvestors Australia

Bass Metal's Mike Rosenstreich told Proactive Investors, that Fossey East could be the next source of ore as well as the start of a string of discoveries along this trend.

Today's record high grade intercept at the Fossey East discovery, in close proximity to the new Fossey mine will add to the maiden Fossey East Mineral Resource estimate planned for completion in February.

Today's reserve increase along with the identification of a potentially major resource within close proximity to existing mine infrastructure will underpin a longer mine life at Hellyer.

With a feasibility study underway and increased funding, a positive DFS could add 50,000+ ounces of gold production worth $67m-$100m+ in revenues, yet Bass is valued by the market at only $53m.

The cash flow generation from the Hellyer Mine keeps on keeping on, powering Bass to find additional feed for its large Hellyer Mill.

The completed Scoping Study for the Mansa manganese project has demonstrated positive project economics as the project moves closer to production in a matter of weeks. Budgeted costs of delivering a CIF product are between $190 and $210 per tonne, in line with its expectations.

The start of the second phase drilling at Mt Forrest iron project puts Mindax on the path to potentially expand both the iron base as well as life of the mine. Importantly, it also has promise for the proposed partnership with Hong Kong-based Perpetual Mining, that could see the company invest $52 million.

The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.

Having made inroads to access the eastern area of the high grade silver Bonanza Zone at the New Departure project in Montana, Black Mountain is on the cusp of first cash generative silver production.  

Cougar Energy has started the Phase 1 drilling program at its Mackenzie PCI grade coal tenement that will unlock the value of the asset by helping define a maiden JORC Resource.