Proactiveinvestors Australia Apollo Minerals https://www.proactiveinvestors.com.au Proactiveinvestors Australia Apollo Minerals RSS feed en Sat, 25 May 2019 03:10:22 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Apollo Minerals continues to make progress with the revitalisation of the Couflens tungsten-gold project ]]> https://www.proactiveinvestors.com.au/companies/news/219913/apollo-minerals-continues-to-make-progress-with-the-revitalisation-of-the-couflens-tungsten-gold-project-219913.html Apollo Minerals Ltd (ASX:AON) is a mining development company backed and staffed by experienced industry professionals. Chairman Ian Middlemas and non-executive Robert Behets were both key players in the creation of uranium specialist Mantra Resources, which was sold in 2011 for over US$1bn. They have also been responsible for the creation and success of numerous other companies, including Prairie Mining and Papillon. Long-time associate Hugo Schumann is making most of the running operationally, as executive director.

What Apollo Minerals owns

Apollo Minerals the Couflens tungsten and gold asset in France, as well as the adjacent Aurenere project which sits on the other side of the border in Spain.

The Couflens project comprises an exploration license that covers a 42 square kilometre area in the Pyrenees region, and includes the historic Salau mine, which was one of the world’s highest grade tungsten mines when it operated from 1971 to 1986.

Over its 15 years of operations the mine produced approximately 930,000 tonnes of ore at an average grade of 1.5% tungsten trioxide (WO3) to yield approximately 11,500 tonnes of WO3 in concentrate.

The mine, which closed in 1986 when prices were much lower than today, remains open at depth and has significant gold upside.

High grades give grounds for confidence for a successful redevelopment

Whereas a general global average for a tungsten mine might run at about 0.3%WO3, grades at Couflens run at an average of 1.5% and were as high as 2.5% WO3 when the mine closed around 40 years ago.

What’s more, there’s also gold potential on the property, with mineralisation from the gold coming into the system as part of a different geological event to that which brought in the tungsten.

Even in the old, historic tailings, grades collected from rock samples were running at 0.5% WO3 and up to 8 grams per tonne gold.

Executive director Hugo Schumann upbeat about future prospects

“The Couflens asset is one of the most exciting projects we’ve seen in our group for a long time,” says Schumann.

“We have here the potential to re-open the world’s highest-grade tungsten mine.”

Recent progress gives grounds for further encouragement

Apollo was recently granted permission to finalise the reinstallation of mine services, including ventilation infrastructure. This will allow Apollo properly to get to work underground and to undertake a drilling programme.

At the same time it will also digitise an extensive database of historic information that it now has at its disposal.

 

 

 

 

]]>
Thu, 09 May 2019 11:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219913/apollo-minerals-continues-to-make-progress-with-the-revitalisation-of-the-couflens-tungsten-gold-project-219913.html
<![CDATA[Media files - Apollo Minerals Ltd - Mining Capital Conference May 2019 ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13260/apollo-minerals-ltd---mining-capital-conference-may-2019-13260.html Wed, 08 May 2019 08:33:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13260/apollo-minerals-ltd---mining-capital-conference-may-2019-13260.html <![CDATA[News - Apollo Minerals continues to progress restart of Salau Tungsten Mine ]]> https://www.proactiveinvestors.com.au/companies/news/219429/apollo-minerals-continues-to-progress-restart-of-salau-tungsten-mine-219429.html Apollo Minerals Limited (ASX:AON) continues to progress restart work at the Salau Tungsten Mine within its Couflens project in southern France 

During the March quarter, the company received the approval to finalise the reinstallation of mine services including ventilation infrastructure.

Work carried out to date includes the construction of ventilation doors and walls with a fan now in place inside the mine.

READ: Apollo Minerals rolling up its sleeves at Salau Tungsten Mine

Ventilation is now being connected to the power supply via cables and this is expected to be completed this month.

The program is being carried out by local contractors with goods and services sourced locally as part of the company’s commitment to invest in the region.

Visit to Austrian mine

Apollo's restart plans have included an organised visit to the Mittersill tungsten mine in Austria, which was attended by a delegation of French politicians.

The delegates represented the Community of Communes Couserans Pyrenees (CCP), which embodies the 94 municipalities in the valleys surrounding the Couflens project.

This visit highlighted that with modern technology and great care for the environment, it is possible to build and operate a responsible mine that brings benefits to local communities.

 

READ: Apollo Minerals receives high-grade gold and tungsten results from historical Couflens data

During the March quarter, Apollo identified high-grade gold and tungsten in obtained data from the Salau mine, which confirmed the presence of gold values up to 16 g/t and at depths of around 600 metres below surface.

Apollo's executive director Hugo Schumann said at the time that the company was excited by the high-grade gold grades that were reported in historically from channel samples.

“These grades are comparable to the high grades obtained at surface and have been identified along many kilometres of strike length.

“This valuable archive obtained from the former mine operators enhances our geological understanding of the historical Salau mine and regional potential of the Couflens project.”

Access to archives

The company was granted access to a technical archive from the Bureau de Recherches Geologiques et Minieres who previously undertook exploration research at and around the mine.

This is in addition to the historical database that the company digitised last year, which contained detailed geological logs and assay data as well as detailed mine level plans and cross sections incorporating geological mapping of underground development and mine stoping areas.

The company is expected to complete the final phase of mine health and safety programs required to reopen the mine for exploration activities soon and is evaluating the applicability of underground geophysical surveys to facilitate the identification of new drill targets.

An initial phase of underground drilling has also been designed to confirm known zones of mineralisation to test for extensions.

]]>
Wed, 01 May 2019 14:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219429/apollo-minerals-continues-to-progress-restart-of-salau-tungsten-mine-219429.html
<![CDATA[News - Apollo Minerals takes great strides to reopen historical French tungsten mine, shares surge ]]> https://www.proactiveinvestors.com.au/companies/news/218528/apollo-minerals-takes-great-strides-to-reopen-historical-french-tungsten-mine-shares-surge-218528.html Apollo Minerals Limited (ASX:AON) has been given the green light to reinstall underground mine services at the historical, high-grade Salau tungsten mine within its Couflens project in southwest France.

This process includes ventilation infrastructure inside the mine with ventilation fans ordered and installation scheduled for late April.

The company expects that this work will take about one month to complete.

Shares are up 40% to an intra-day high of 14 cents.

READ: Apollo Minerals receives high-grade gold and tungsten results from historical Couflens data

Apollo’s executive director Hugo Schumann said: “We are pleased to be nearing completion of the program to reinstall mine services at Salau, most notably the installation of ventilation infrastructure after more than 30 years of the mine’s closure.

“The Salau mine has the potential to create significant jobs in the Ariege department and to provide a strategic supply of tungsten to French industrial companies who rely on China for most of its supply of this critical raw material.”

The mine had average operating grades of 1.5% WO3 during its 15 years of operation before closing in 1986 due to low tungsten prices, rather than depletion of the deposit.

As part of the program, the company will also repair mine supports, secure the working areas for exploration and complete the installation of communication and emergency facilities.

Schumann added: “In the coming days we will deliver the ventilation fan to site and commence with the works needed to bring the mine into a good working condition for the final phase of health and safety checks and our upcoming drilling and sampling programs.”

Apollo began a program to reinstall mine service last year following an initial phase of health and safety risk assessments, focused on geotechnical stability, air quality, ventilation tests and water quality.

Exceptional underground conditions

This work confirmed the exceptional underground conditions in the mine with the mine environment benefiting from natural ventilation flows from upper levels which are open.

The required ventilation improvements to support exploration activities are, therefore, minimal and comprise the installation of one fan on the 1430 level, two ventilation doors and two walls.

Apollo is utilising local contractors to carry out the work while goods and services are being sourced locally as part of the company’s commitment to invest in the region.

Drill program planned

The company has also shortlisted preferred drilling contractors for the initial underground drilling program at Salau.

This is designed to confirm known zones of tungsten mineralisation and test for extensions of these zones as a precursor to estimating a JORC-compliant mineral resource.

Couflens project comprises a 42 square kilometre licence area and is close to the border with Spain.

The company also has the Aurenere project across the border and which comprises an Investigation Permit under application.

Aurenere covers 27.5 square kilometres and is along strike from and adjacent to, the Couflens project.

]]>
Mon, 15 Apr 2019 09:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218528/apollo-minerals-takes-great-strides-to-reopen-historical-french-tungsten-mine-shares-surge-218528.html
<![CDATA[Media files - Apollo Minerals gets the OK to restart work at Salau mine in France ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12995/apollo-minerals-gets-the-ok-to-restart-work-at-salau-mine-in-france-12995.html Mon, 15 Apr 2019 08:50:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/12995/apollo-minerals-gets-the-ok-to-restart-work-at-salau-mine-in-france-12995.html <![CDATA[Media files - Apollo Minerals acquires wealth of historical Couflens data ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12088/apollo-minerals-acquires-wealth-of-historical-couflens-data-12088.html Mon, 04 Feb 2019 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12088/apollo-minerals-acquires-wealth-of-historical-couflens-data-12088.html <![CDATA[News - Apollo Minerals receives high-grade gold and tungsten results from historical Couflens data ]]> https://www.proactiveinvestors.com.au/companies/news/213852/apollo-minerals-receives-high-grade-gold-and-tungsten-results-from-historical-couflens-data-213852.html Apollo Minerals Limited (ASX:AON) has identified high-grade gold and tungsten in newly obtained data from the historical Salau mine within its Couflens project in France.

The historical gold assay results confirm the presence of high-grade gold values within the mine and at depths of around 600 metres below surface.

WATCH: Apollo Minerals acquires wealth of historical Couflens data

This highlights the significant scale of potential of the exploration opportunity at the project.

High-grade results

The archive includes previously unavailable reports on gold assays results from 1986 from historical channel sampling and drilling inside the Salau mine including:

Up to 1.9 metres at 16 g/t gold from channel sampling programs; and

8.5 metres at 3.4 g/t gold, including 1.9 metres at 8.4 g/t gold from diamond drilling results within the mined area.

The archive also has information on more than 1,000 drill holes and channel samples and contains more than 100 boxes of geological maps, sections drill logs and assays for tungsten from drilling.

“Excited by the high-grade gold grades”

Apollo Minerals executive director Hugo Schumann said: “We are excited by the high-grade gold grades that were reported historically, including 8.5 metres at 3.4 g/t gold from drilling and 1.9 metres at 16 g/t gold from channel samples.

“These grades, reported from inside the mine, are comparable to the high gold grades obtained at surface and have been identified along many kilometres of strike length.

Enhances geological understanding

“This valuable archive obtained from the former mine operators greatly enhances our geological understanding of the historical Salau mine and regional potential of the Couflens project.

“The fact that we now have access to the more than 1,000 drill holes and channel samples represents a huge saving in cost and time and significantly de-risks our exploration programs.

“Our focus it to rapidly commence a program of in-mine channel sampling and drilling immediately after the soon-to-be-completed health and safety risk assessments.”

READ: Apollo Minerals rolling up its sleeves at the Salau tungsten mine

A general global average for a tungsten mine might run at around 0.3% tungsten trioxide (WO3) whereas grades at Couflens are at an average of 1.5% and were as high as 2.5% WO3 when the mine closed about 40 years ago.

  

Following the acquisition of the Couflens project in March 2017, the company obtained the historical database and has now been granted a second set of archives.

The archive will be reviewed and incorporated into the company’s database, representing an additional saving in cost and time by de-risking the upcoming exploration and study programs.

A program of in mine channel sampling will occur in order to confirm the veracity of the historical data and to test for extensions to known mineralisation.

- Jessica Cummins

]]>
Sun, 03 Feb 2019 19:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213852/apollo-minerals-receives-high-grade-gold-and-tungsten-results-from-historical-couflens-data-213852.html
<![CDATA[News - Apollo Minerals rolling up its sleeves at the Salau tungsten mine ]]> https://www.proactiveinvestors.com.au/companies/news/208234/apollo-minerals-rolling-up-its-sleeves-at-the-salau-tungsten-mine-208234.html Apollo Minerals Limited (ASX:AON) intends over the coming months to review drilling proposals at the historical high-grade Salau tungsten mine in France.

Highlights of the quarter just ended included the acquisition of the remaining 20% interest in the Couflens Project in France, which includes the Salau, and the commencement of a work programme to reinstall mine services at Salau.

READ Apollo Minerals sets out to restart the world’s highest grade tungsten mine​

Looking ahead, the company intends to interpret geophysical data obtained from the initial work programme at Salau and submit applications for further work at the project.

The company said will review drilling proposals, select a preferred bidder and submit drill programme applications after the completion of health and safety risk assessments.

After the relevant approvals have been obtained, the company will complete the programme to reinstall mine services at Salau.

Meanwhile, Apollo said it would advance applications for drilling at the Aurener project in Spain as part of the ongoing investigation permit application.

The debt-free company ended the quarter with A$4.4mln in cash.

]]>
Wed, 31 Oct 2018 12:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208234/apollo-minerals-rolling-up-its-sleeves-at-the-salau-tungsten-mine-208234.html
<![CDATA[Media files - Apollo Minerals 'very welcome in France with flagship project progressing well' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10503/apollo-minerals-very-welcome-in-france-with-flagship-project-progressing-well--10503.html Tue, 18 Sep 2018 08:07:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10503/apollo-minerals-very-welcome-in-france-with-flagship-project-progressing-well--10503.html <![CDATA[News - Apollo Minerals confirms "excellent" infrastructure and ground conditions at Salau mine ]]> https://www.proactiveinvestors.com.au/companies/news/200360/apollo-minerals-confirms-excellent-infrastructure-and-ground-conditions-at-salau-mine-200360.html Apollo Minerals Limited (ASX:AON) has confirmed “excellent” infrastructure and ground conditions at the Salau tungsten mine in France.

The Salau mine, which is included within Apollo’s Couflens tungsten project, has completed the initial phase of a health and safety risk assessment, which confirmed excellent ground conditions within competent granite host rock and limited deterioration of conditions evident since mine closure.

WATCH: Apollo Minerals 'very welcome in France with flagship project progressing well'

Hugo Schumann, executive director of Apollo, said: “The Salau tungsten mine is blessed with excellent infrastructure and ground conditions including wide development drives, good natural ventilation and ready access to water and power.

He added: “The previous mine owners developed the mine within a hard and competent granite host rock which remains in excellent condition today. These infrastructure advantages represent potential major time and cost savings and will greatly facilitate our planned work programs which include drilling to test multiple gold and tungsten targets.”

]]>
Mon, 09 Jul 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200360/apollo-minerals-confirms-excellent-infrastructure-and-ground-conditions-at-salau-mine-200360.html
<![CDATA[News - Apollo Minerals receives French government approval to obtain 100% ownership of Couflens project ]]> https://www.proactiveinvestors.com.au/companies/news/199586/apollo-minerals-receives-french-government-approval-to-obtain-100-ownership-of-couflens-project-199586.html Apollo Minerals Limited (ASX:AON) has received approval from the French Ministry of Economy and Finance to gain 100% ownership of the Couflens tungsten-copper-gold project in the Pyrenees.

The miner said the approval allowed it to purchase the remaining 20% interest in the project it does not already own, having acquired an 80% interest in the project in 2017.

WATCH: Outlook for tungsten developers 'promising' amid tightening supply

The group added that it would acquire the remaining interest through the purchase of Variscan Mines SAS, a wholly owned subsidiary of Variscan Mines Limited (ASX:VAR).

Apollo is funding the transaction using a combination of cash and future share payments based on the achievement of project milestones, as well as assuming the liabilities of Variscan France.

Most of the consideration is deferred and is weighted towards share based payments in the future, thereby limiting the upfront cash outlay.

Hugo Schumann, executive director of Apollo Minerals, said: “Our desire to increase our ownership in the Couflens Project to 100% reflects our growing appreciation of the high quality of the project and its significant exploration upside. We are now well placed to carry out our exploration and study programmes backed by a strong cash balance and quality institutional shareholders.”

]]>
Tue, 26 Jun 2018 12:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199586/apollo-minerals-receives-french-government-approval-to-obtain-100-ownership-of-couflens-project-199586.html
<![CDATA[Media files - Outlook for tungsten developers 'promising' amid tightening supply ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9691/outlook-for-tungsten-developers-promising-amid-tightening-supply-9691.html Mon, 25 Jun 2018 12:55:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9691/outlook-for-tungsten-developers-promising-amid-tightening-supply-9691.html <![CDATA[Media files - Apollo Minerals advancing work on the world's highest grade tungsten mine ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9312/apollo-minerals-advancing-work-on-the-world-s-highest-grade-tungsten-mine-9312.html Thu, 17 May 2018 08:09:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9312/apollo-minerals-advancing-work-on-the-world-s-highest-grade-tungsten-mine-9312.html <![CDATA[News - Apollo Minerals sets out to restart the world’s highest grade tungsten mine ]]> https://www.proactiveinvestors.com.au/companies/news/196251/apollo-minerals-sets-out-to-restart-the-worlds-highest-grade-tungsten-mine-196251.html “We have the potential to reopen the world’s highest grade tungsten mine,” says Hugo Schumann of Apollo Minerals Limited (ASX:AON).

Schumann was appointed as an Executive Director in May, following stints at Berkeley Energia (LON:BKY) and Prairie Mining (ASX:PDZ). Both have made a considerable impact on their respective markets, and Schumann was an integral part of that, playing a significant role in financing and investor relations.

WATCH: Apollo Minerals to expand team ahead of upcoming drill programmes

With Apollo though, he’s moving more to centre stage as the company begins to get down to serious work on its French and Spanish tungsten and gold assets.

As Executive Director, Schumann plays a leadership role in the company, and the move represents something of a step up for him among the group of entrepreneurs with whom he customarily works.

The chairman of Apollo, Ian Middlemas, has had several major successes in the uranium and gold space, as has senior non-executive director Robert Behets. Middlemas has had involvement both with Berkeley and with Prairie Mining and has clearly built up a healthy enough respect for Schumann to let him run with Apollo.

But Schumann has other motivations too. He holds a significant shareholding in Apollo himself, some 5.2 million shares, and he is clearly eager to make a success of it.

In April, the company announced a A$6mln capital raise which included some of the world’s largest mining funds, most notably BlackRock and Old Mutual taking significant interests. The funding is expected to cover the company’s drilling and feasibility work for the next 12-18 months.

A move to a European listing is being investigated to increase the company’s exposure to international capital, but most of the focus now will be on working up the Couflens tungsten and gold asset, as well as the new Aurenere project which borders it on the other side of the Spanish frontier.

“The Couflens asset is one of the most exciting projects we’ve seen in our group for a long time,” says Schumann.

“We have here the potential to re-open the world’s highest-grade tungsten mine.”

READ: Apollo Minerals boasts of “exceptionally busy” quarter

And he’s not kidding about the grades. Whereas a general global average for a tungsten mine might run at about 0.3%WO3, grades at Couflens run at an average of 1.5% and were as high as 2.5% WO3 when the mine closed around 40 years ago.

What’s more, there’s also gold potential on the property, with mineralisation from the gold coming into the system as part of a different geological event to that which brought in the tungsten.

To get an idea of how rich this mine might be, Schumann points out that even in the old, historic tailings, grades collected from rock samples were running at 0.5% WO3 and up to 8 grams per tonne gold.

But France hasn’t exactly been a welcome destination for mining over the past few decades, and in spite of this potential, not much forward motion has been evident until now.

But President Emmanuel Macron is keen to get mining in France kick-started again, and Couflens fits in nicely.

The company has already digitised data from over 650 historic drillholes in order to estimate a tungsten resource, and is now beginning to get the underground area itself back into some sort of working order, with the ongoing restoration of power, ventilation and cabliong.

Drilling is planned in due course, and an application to undertake an airborne geophysics survey has been made to the French authorities. 

In the meantime, results from sampling both from Couflens and from Aurenere continue to highlight the prospectivity of the projects.

Results from the 2017 surface exploration programme at Couflens showed grades as high as 8.25% WO3, with associated gold at 24 grams per tonne, while recent samples at Aurenere showed grades as high as 33.9 grams gold and 2.03 WO3. The copmany has now applied for a drilling permit at Aurenere. 

Watch this space for further updates.

]]>
Thu, 03 May 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196251/apollo-minerals-sets-out-to-restart-the-worlds-highest-grade-tungsten-mine-196251.html
<![CDATA[News - Apollo Minerals appoints former Berkeley Energia COO Hugo Schumann as executive director ]]> https://www.proactiveinvestors.com.au/companies/news/196235/apollo-minerals-appoints-former-berkeley-energia-coo-hugo-schumann-as-executive-director-196235.html Apollo Minerals Limited (ASX:AON) has appointed Hugo Schumann as an executive director of the company with effect from 2 May 2018.

Schumann was previously chief commercial officer at Berkeley Energia Limited (LON:BKY) where he led the US$120mln financing of the Salamanca uranium mine in Spain with the sovereign wealth fund of Oman at the bottom of the uranium price cycle.

READ: Apollo Minerals boasts of “exceptionally busy” quarter

The group said Schumann, an experienced mining executive based in London, has worked in corporate development functions for a number of listed mining companies and played a leading role in numerous financing transactions, stock exchange listings, commercial offtake deals, infrastructure deals and investor relations programmes.

WATCH: Apollo Minerals advancing work on the world's highest grade tungsten mine

More recently, it added, he has been working with Apollo Minerals to increase its ownership in the Couflens Project in France to 100%, to acquire the Aurenere Project in Spain and on the recent successful A$6.0mln equity financing for the company.

The equity financing delivered leading European institutional investors onto Apollo’s share register, including one of the world’s largest mining funds.

]]>
Wed, 02 May 2018 09:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196235/apollo-minerals-appoints-former-berkeley-energia-coo-hugo-schumann-as-executive-director-196235.html
<![CDATA[Media files - Apollo Minerals to expand team ahead of upcoming drill programmes ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9168/apollo-minerals-to-expand-team-ahead-of-upcoming-drill-programmes-9168.html Mon, 30 Apr 2018 13:13:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9168/apollo-minerals-to-expand-team-ahead-of-upcoming-drill-programmes-9168.html <![CDATA[News - Apollo Minerals boasts of “exceptionally busy” quarter ]]> https://www.proactiveinvestors.com.au/companies/news/195876/apollo-minerals-boasts-of-exceptionally-busy-quarter-195876.html Apollo Minerals Limited (ASX:AON), in an activities report, described an “exceptionally busy” period which included a notable capital raise of A$6mln.

It saw leading European institutional investors take shares in the company, including one of the world’s largest mining funds.

The company also signed a deal that will see it take full ownership of the Couflens project where initial exploration success has unearthed high gold grades and tungsten. Additionally, Apollo picked up 75% of the Aurenere Project which is located in Spain, along strike from Couflens.

WATCH: Apollo Minerals raises cash to develop gold and tungsten assets

“Regional exploration programmes will continue to assess identified tungsten and gold prospects and advance them to the drill ready stage,” the company said.

“These programmes will be aided by airborne geophysical surveys which are being planned, with the goal of refining regional targets and improving the Company’s understanding of regional geological structures.”

It also highlighted the continued strengthening of the tungsten market, which has seen prices rise some 54% over the past year due to tightening of supplies in China.

]]>
Thu, 26 Apr 2018 15:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195876/apollo-minerals-boasts-of-exceptionally-busy-quarter-195876.html
<![CDATA[News - Apollo Minerals Limited to hive off Constellation Resources subsidiary ]]> https://www.proactiveinvestors.com.au/companies/news/195551/apollo-minerals-limited-to-hive-off-constellation-resources-subsidiary-195551.html Apollo Minerals Limited (ASX:AON) plans to list its Constellation Resources Limited subsidiary on the Australian Securities Exchange.

Constellation holds the Fraser Range nickel-copper and gold assets in south-eastern Western Australia; the decision to spin-off Constellation reflects Apollo’s increased focus on its European tungsten and gold projects.

READ: Apollo Minerals intends to begin placement to fund accelerated European exploration

The separate listing of Constellation will allow the management team of Apollo Minerals to focus on its Couflens and Aurenere projects in the Pyrenees.

The listing will also ensure that Constellation has a dedicated management team and funding for exploration activities on the Fraser Range nickel-copper and gold assets.

Shareholders of Apollo Minerals with a registered address in Australia and who hold at least 12,500 Apollo shares as at 10 May 2018 – although this date may be subject to change - will receive a priority entitlement to subscribe for Constellation shares on a 1-for-5 basis.

The current plans are for Constellation to offer 35mln new shares via a flotation at an issue price of A$0.20 to raise A$7mln (gross).

 

]]>
Mon, 23 Apr 2018 10:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195551/apollo-minerals-limited-to-hive-off-constellation-resources-subsidiary-195551.html
<![CDATA[News - Apollo Minerals intends to begin placement to fund accelerated European exploration ]]> https://www.proactiveinvestors.com.au/companies/news/194425/apollo-minerals-intends-to-begin-placement-to-fund-accelerated-european-exploration-194425.html Apollo Minerals Limited (ASX:AON) has said it will make a placement to raise A$6mln to fund accelerated exploration at its European projects.

The ASX-listed miner said the funds raised would be used to accelerate planned exploration programs including drilling and feasibility work at the company’s Couflens project in France and progressing the adjacent Aurenere project in neighbouring Spain.

WATCH: Apollo Minerals raises cash to develop gold and tungsten assets

The placement is being made to leading European institutions, including one of the world’s largest mining funds, at an issue price of A$0.23, representing a 13% discount to the 20-day volume weighted price average (VWAP) of A$0.265.

At the Couflens project, the Company is focused on the potential reactivation of the historical Salau mine which was one of the world’s highest grade tungsten mines and is open at depth, with significant gold potential.

The company is also planning drilling programs to test gold and tungsten exploration targets in the wider region across both the Couflens project and the Aurenere project.

Recent work programs have confirmed the presence of widespread high grade gold (up to 33.9 g/t) and tungsten (up to 8.25% WO3) within the Company’s 97km² landholding in the Pyrenees region.

Apollo expects to issue the placement shares on or about 11 April 2018.

]]>
Thu, 05 Apr 2018 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194425/apollo-minerals-intends-to-begin-placement-to-fund-accelerated-european-exploration-194425.html
<![CDATA[Media files - Apollo Minerals raises cash to develop gold and tungsten assets ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8988/apollo-minerals-raises-cash-to-develop-gold-and-tungsten-assets-8988.html Wed, 04 Apr 2018 06:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/8988/apollo-minerals-raises-cash-to-develop-gold-and-tungsten-assets-8988.html <![CDATA[News - Apollo Minerals expands footprint in Pyrenees with Aurenere deal ]]> https://www.proactiveinvestors.com.au/companies/news/193565/apollo-minerals-expands-footprint-in-pyrenees-with-aurenere-deal-193565.html Apollo Minerals Limited (ASX:AON) has acquired a majority stake in Aurenere, the project next door to its Couflens tungsten and gold project in France.

Aurenere, in Spain, contains an extension of the tungsten and gold strike at Couflens believes Apollo, which is paying €100,000 upfront for a 75% stake in Neometal, which owns the licence currently.

WATCH: Apollo Minerals to acquire 75% stake in Aurenere project in Spain

A further €150,000 falls due once an investigation permit is granted, while Apollo must spend a further €2.5mln over five years on development to retain its stake.

Fieldwork at Couflens has identified widespread tungsten (up to 8.25% WO3) and high-grade gold (up to 24.5 g/t).

Apollo believes these samples are indicative of shear-hosted gold mineralisation within large fault structures extending to the west of the Salau mine area in Couflens towards Aurenere.

Combined, Aurenere and Couflens cover an area of 97 sq Km in the Pyrenees.

]]>
Wed, 21 Mar 2018 13:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193565/apollo-minerals-expands-footprint-in-pyrenees-with-aurenere-deal-193565.html
<![CDATA[Media files - Apollo Minerals to acquire 75% stake in Aurenere project in Spain ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8916/apollo-minerals-to-acquire-75-stake-in-aurenere-project-in-spain-8916.html Wed, 21 Mar 2018 11:52:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8916/apollo-minerals-to-acquire-75-stake-in-aurenere-project-in-spain-8916.html <![CDATA[Media files - Apollo Minerals looking to reopen the world's highest grade tungsten mine ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8890/apollo-minerals-looking-to-reopen-the-world-s-highest-grade-tungsten-mine-8890.html Fri, 16 Mar 2018 12:19:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8890/apollo-minerals-looking-to-reopen-the-world-s-highest-grade-tungsten-mine-8890.html