Proactiveinvestors Australia Comet Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Comet Resources Ltd RSS feed en Sat, 25 May 2019 03:58:54 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - New era for Comet Resources with Philippa Leggat at the helm ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13434/new-era-for-comet-resources-with-philippa-leggat-at-the-helm-13434.html Tue, 21 May 2019 23:19:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13434/new-era-for-comet-resources-with-philippa-leggat-at-the-helm-13434.html <![CDATA[Media files - Comet Resources discovers two new high-grade graphite zones at WA project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13291/comet-resources-discovers-two-new-high-grade-graphite-zones-at-wa-project-13291.html Thu, 09 May 2019 20:15:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13291/comet-resources-discovers-two-new-high-grade-graphite-zones-at-wa-project-13291.html <![CDATA[News - Comet Resources discovers two high-grade graphite zones at Springdale project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/219698/comet-resources-discovers-two-high-grade-graphite-zones-at-springdale-project-in-wa-219698.html Comet Resources Limited (ASX:CRL) has discovered two high-grade graphite zones following a reconnaissance drill program targeting a series of electromagnetic (EM) anomalies along strike from the maiden resource at Springdale Graphite Project in WA.

The new zones confirm a strong correlation between high-grade graphite and the numerous EM anomalies identified by Comet’s recent geophysical surveys.

READ: Comet Resources eyes graphene from Springdale Graphite project

Comet Resources new chief executive officer Philippa Leggat said: “The shallow nature of the mineralisation in conjunction with the ability to use electromagnetic surveys to target high-grade mineralisation will aid our ability to cost-effectively increase the size of and certainty around our resources.

“We are pleased with the new, high-grade discoveries and have Tony Cooper, my predecessor, to thank for his work in identifying the Springdale Graphite Project.

“He has developed a solid technical base for us to transition the project into the next stage of development.”

READ: Comet Resources to define Springdale graphite potential as strategist takes on CEO role

The program included 11 shallow, reconnaissance-style reverse circulation (RC) holes for a total of 651 metres.

The drilling was successful in:

Discovering two new horizons of high-grade graphite mineralisation with an interpreted strike of around 3.5 kilometres and 5 kilometres; Solidifying the geophysical interpretation of prospective stratigraphy; and Confirming ground electromagnetic surveys as a useful tool for identifying high-grade graphite mineralisation.

High-grade intersections include:

10 metres at 1.61% TGC from 40 metres, including 7 metres at 21.6%; and 7 metres at 18.44% from 34 metres and 6 metres at 26.53% from 53 metres. READ: Comet Resources appoints experienced industry executive Philippa Leggat as CEO

Following the success of discovering the high-grade Northern Zone and completion of the maiden resource estimate, Comet planned an RC drilling program to test two undrilled high-priority graphite targets.

The targets were defined using aeromagnetic data to define stratigraphy prospective for graphite mineralisation and a review of the aeromagnetic data with existing drill hole information.

This data identified that graphitic horizons intersected in existing drilling were in distinct magnetic lows.

Targets were further refined by ground electromagnetic (EM) surveys completed by Southern Geoscience Consultants Pty Ltd.

The company will continue to focus on further defining the high-grade zones with additional aircore and diamond drilling over the coming months.

]]>
Mon, 06 May 2019 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219698/comet-resources-discovers-two-high-grade-graphite-zones-at-springdale-project-in-wa-219698.html
<![CDATA[News - Comet Resources to define Springdale graphite potential as strategist takes on CEO role ]]> https://www.proactiveinvestors.com.au/companies/news/219528/comet-resources-to-define-springdale-graphite-potential-as-strategist-takes-on-ceo-role-219528.html Comet Resources Limited (ASX:CRL) is a graphite explorer in Australia focused on exploring the commercial potential of a flagship Western Australian asset whose graphite has interesting graphene production qualities.

The junior Western Australian company is led by new chief executive officer Philippa Leggat, an experienced minerals industry executive with close to 20 years' experience in project execution and advancement. Leggat’s specialities include the negotiation of value-accretive project acquisitions and the structuring of value-adding commercial arrangements, including joint ventures.

Leggat has served on the boards of a number of Australian Securities Exchange-listed companies over the past eight years, as the entities raised capital, explored for resources and evaluated projects. She has represented companies in both domestic and international markets, and has built and fostered relationships with resource-oriented private equity and institutional funds.

Comet’s past managing director Tony Cooper stepped down from the board and will continue to provide consulting services to the company when drawn upon.

What does Comet Resources own?

The key asset is the Springdale Graphite Project in southwest Australia, 30 kilometres from the WA town of Hopetoun and 150 kilometres from the south coast port of Esperance.

Springdale project extends over 220 square kilometres on the Yilgarn Craton, part of the wider Albany-Fraser Orogen.

The project is housed in three wholly-owned tenements and features a graphite resource with a rare quality of being able to be transformed into graphene by electrical exfoliation method.

Graphene produced from Springdale graphite is also suited to battery applications.

According to a November 2017 aeromagnetic survey, a 26-kilometre area at Springdale, or 10% of the project tenements, is prospective for graphite mineralisation.

Only 20% of that prospective area has been tested by Comet during past drilling campaigns.

A Western Zone at the project was judged prospective during first-pass aircore drilling at the project in February 2016.

Comet has aircore drilled 113 holes for 2,901 metres at the project, adding 93 reverse circulation (RC) holes or 5,320 RC metres to its datasets and 20 diamond holes for another 1,193 metres of data.

The company achieved a milestone for the project in December 2018, defining a maiden resource.

Judged to be an inferred resource, it featured 15.6 million tonnes at 2.2 tonnes a cubic metre density for 6% total graphitic content (TGC).

Within this a high-grade inferred resource featured 2.6 million tonnes at 2.1 tonnes per cubic metre grading 17.5% TGC.

Comet has another wholly-owned project in its portfolio known as Gilmore, plus the 25%-owned Bell’s Find tenement.

The company plans to spend $184,000 on exploration and evaluation in the March quarter of 2019.

Inflection points

Capital raisings and value-accretive acquisitions

Resource updates for Springdale project

Springdale scoping and feasibility study progress and milestones

Financing and other milestones

Significant transactions such as joint ventures and other corporate arrangements

Chairman Hamish Halliday pleased with new CEO’s focus

“We are delighted to have Philippa take up the role of CEO and believe her commercial and financial skill set will greatly assist Comet as the company seeks to unlock the full potential of the Springdale Graphite Project,” Comet Resources chairman Hamish Halliday said on Wednesday.

“Philippa’s strategic focus and outcome driven approach will be invaluable as the Comet moves from the discovery phase to defining the commercial potential of the Springdale project.”

]]>
Sun, 05 May 2019 18:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219528/comet-resources-to-define-springdale-graphite-potential-as-strategist-takes-on-ceo-role-219528.html
<![CDATA[News - Comet Resources appoints experienced industry executive Philippa Leggat as CEO ]]> https://www.proactiveinvestors.com.au/companies/news/219422/comet-resources-appoints-experienced-industry-executive-philippa-leggat-as-ceo-219422.html Comet Resources Limited (ASX:CRL) has appointed experienced mineral industry executive Philippa Leggat as its new chief executive officer.

Leggat has almost 20 years’ experience in advancing projects along the value chain and has built a reputation for focused and driven leadership projects across a variety of industry applications.

Over the past eight years she has served as an executive, director and advisor to ASX-listed companies engaged in capital raising, exploration, development and project evaluation.

Strategic focus will be “invaluable”

Comet Resources chairman Hamish Halliday said: “We are delighted to have Philippa take up the role of CEO and believe her commercial and financial skill set will greatly assist Comet as the company seeks to unlock the full potential of the Springdale Graphite Project.

“Philippa’s strategic focus and outcome driven approach will be invaluable as the Comet moves from the discovery phase to defining the commercial potential of the Springdale project.”

Particularly strong in commercial structuring and negotiation skills, Leggat has a track record of negotiating value-accretive project acquisitions and has developed broad strategies while establishing and delivering key corporate objectives.

These include but are not limited to JV management, bid negotiation and international stakeholder relations management. She has represented ASX-listed companies in domestic and international investment markets.

Communication skills

Her communication skills enabled her to foster relationships with buy and sell side market participants with a focus on resource-oriented private equity and institutional funds.

Leggat holds Bachelor degrees specialising in strategy, financial management and risk as well as gemmology, metallurgy, jewellery production and marketing. She is a graduate member of the Australian Institute of Company Directors.

The Comet board thanks outgoing managing director Tony Cooper for his many years of dedicated service to the company.

]]>
Wed, 01 May 2019 11:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219422/comet-resources-appoints-experienced-industry-executive-philippa-leggat-as-ceo-219422.html
<![CDATA[News - Comet Resources in an ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/179578/comet-resources-in-an-asx-trading-halt-179578.html Comet Resources (ASX:CRL) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Comet is preparing to outline details of a placement.

The halt will remain in place until the opening of trade on Friday 23rd June 2017, or earlier if an announcement is made to the market.

]]>
Wed, 21 Jun 2017 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179578/comet-resources-in-an-asx-trading-halt-179578.html
<![CDATA[News - Comet Resources eyes graphene from Springdale Graphite project ]]> https://www.proactiveinvestors.com.au/companies/news/178595/comet-resources-eyes-graphene-from-springdale-graphite-project-178595.html Comet Resources (ASX:CRL) has commenced drilling at its Springdale Graphite Project near Hopetoun in Western Australia to collect samples for further graphene metallurgical testwork.

The company owns three tenements with a total land area of circa 220 square kilometres at the Springdale Project.

Comet’s drilling program will start with 15 diamond holes for circa 1,000 metres and 90 aircore holes for about 2,700 metres.

The diamond drilling program is designed to:

- produce samples to allow for metallurgical testing to assess the grade and quality of graphene from the ore and also to aid with further graphite battery testwork;

- demonstrate ore continuity and grade over a selected area; and

- to drill test near a past drill hole which assayed 13 metres at 10.9% TGC (total graphic carbon).

It is expected that the first round of results will be available early in the September quarter.

Comet’s previous drilling identified three zones of graphite mineralisation, each zone having reported high grades of graphite (+15% TGC).

Recent metallurgical testwork managed by the company’s metallurgical consultant produced graphene from the Springdale ore.

Further work has been planned to test more core samples, to work out qualitative processes and to explore other process routes in forming and extracting graphene from the Springdale graphite.

]]>
Thu, 01 Jun 2017 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178595/comet-resources-eyes-graphene-from-springdale-graphite-project-178595.html
<![CDATA[News - Comet Resources drills up to 22% graphite from Springdale ]]> https://www.proactiveinvestors.com.au/companies/news/168372/comet-resources-drills-up-to-22-graphite-from-springdale-168372.html The program consisted of four diamond drill holes for 282 metres and 103 aircore holes for 2,577 metres.

The results for the first two diamond drill holes have been received:
- 15.6 metres at 9.9% TGC (total graphitic carbon) from 30.4 metres including 7 metres at 20.8% TGC from 31 metres;
- 8 metres at 9.9% TGC from 44 metres including 2 metres at 22.3% TGC from 44 metres.

Comet has selected a number of drill samples for further test work.

Testing will include bulk sample metallurgical work, flake size determination and other tests to determine the products and purity.

The results for two more diamond holes and 40+ aircore holes are expected this month.

The Springdale project is part of the Albany-Frazer Orogen which hosts the historic Halberts Graphite mine near Munglinup.

The Munglinup area has produced the bulk of Western Australia’s recorded graphite production.

Comet’s share price has increased by 67% during the past six months, last trading at $0.50.

]]>
Wed, 02 Nov 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168372/comet-resources-drills-up-to-22-graphite-from-springdale-168372.html
<![CDATA[News - Comet Resources Ltd intersects more graphite at Springdale project ]]> https://www.proactiveinvestors.com.au/companies/news/166505/comet-resources-ltd-intersects-more-graphite-at-springdale-project-71236.html Comet Resources Ltd (ASX:CRL) has completed a drilling program to define the strike extension of a newly discovered graphite zone at the Springdale project near Hopetoun in Western Australia.

The company is awaiting assay results for the program which consisted of four diamond drill holes for 282 metres and 103 aircore holes for 2,577 metres.

All four diamond holes intersected graphite mineralisation with widths over 10 metres.

All cores are currently in the laboratory for core cutting and sampling. These cores will also be used for metallurgical test work.

Additionally, graphite has been logged in 40 holes (to be confirmed by assaying) of the 103 aircore holes.

The Springdale project is part of the Albany-Frazer Orogen which hosts the historic Halberts Graphite mine near Munglinup.

The Munglinup area has produced the bulk of Western Australia’s recorded graphite production.

Comet conducted a first pass aircore drilling program at Springdale in February 2016, drilling a total of 11 holes for 324 metres.

A significant intersection from this program assayed 7 metres at 12.6% graphitic carbon from 26 metres depth.

Comet’s share price has doubled during the past six months, last trading at $0.04.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 27 Sep 2016 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166505/comet-resources-ltd-intersects-more-graphite-at-springdale-project-71236.html
<![CDATA[News - Comet Resources Ltd looks to unlock graphite potential at Springdale project ]]> https://www.proactiveinvestors.com.au/companies/news/165357/comet-resources-ltd-looks-to-unlock-graphite-potential-at-springdale-project-70290.html Comet Resources Ltd (ASX:CRL) will conduct a drilling program primarily aimed at unlocking the graphite potential of the Springdale project near Hopetoun in Western Australia.

The project is part of the Albany-Frazer Orogen which hosts the historic Halberts Graphite mine near Munglinup.

The Munglinup area has produced the bulk of Western Australia’s recorded graphite production.

Comet conducted first pass aircore drilling program at Springdale in February 2016, drilling a total of 11 holes for 324 metres.

Significant intersections from this drilling included 7 metres at 12.6% graphitic carbon from 26 metres depth.

The proposed drilling program is designed to test the newly discovered graphite zone along strike and other prospective zones located from unpublished and verbal reports of graphite mineralisation.

A program of 150 drill holes for 4,500 metres has been planned.

The graphite drill component is 110 holes for 3,210 metres, with the remaining drilling used to test for gold and nickel mineralisation over the inferred Springdale Greenstone Belt.

Comet held $1.3 million in cash as at 30 June 2016.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Mon, 08 Aug 2016 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165357/comet-resources-ltd-looks-to-unlock-graphite-potential-at-springdale-project-70290.html
<![CDATA[News - Comet Resources Ltd makes graphite discovery in Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/152265/comet-resources-ltd-makes-graphite-discovery-in-western-australia-67916.html Comet Resources Ltd (ASX:CRL) has intersected graphite resources from first pass drilling at the Springdale project near Hopetoun in Western Australia, sending the share price flying.

The discovery was within the southern margins of the Yilgarn Craton and constitutes part of the Albany-Frazer Orogen which hosts the historic Halberts Graphite mine near Munglinup.

The results from the earlier drilling program included hits of: 10 metres at 9.7% graphitic carbon from 23 metres depth and including 7 metres at 12.6% graphite.

All holes intersecting graphite mineralisation over 500 metre of strike, zone open at depth and along strike.

Comet conducted first pass aircore drilling program at Springdale in February 2016 drilling a total of 11 holes for 324 metres.

Significant intersections from this drilling included 7 metres at 12.6% graphitic carbon from 26 metres depth.

The program was not designed to test the full sequence or mineralisation at depth, but as a proof of concept with a number of holes ending in mineralisation.

The tenement is a freehold land 20 kilometres away from sealed road, with access to port facilities within 150 kilometres.

Three more prospective zones have been identified by rock chip sampling, which are to be evaluated during the next phase of exploration.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Thu, 07 Apr 2016 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/152265/comet-resources-ltd-makes-graphite-discovery-in-western-australia-67916.html
<![CDATA[News - Comet Resources Ltd among ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/152262/comet-resources-ltd-among-asx-gainers-intra-day-67905.html Wednesday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Comet Resources Ltd CRL $0.030 50% 100,000 Coppermoly Ltd COY $0.006 50% 250,000 Platypus Minerals Ltd PLP $0.019 35.71% 47,268,404 eServGlobal Ltd ESV $0.110 34.15% 610,058 Metminco Ltd MNC $0.004 33.33% 135,000 Cullen Resources Ltd CUL $0.004 33.33% 4,710,490 Silver City Minerals Ltd SCI $0.020 33.33% 1,802,410 Diploma Group Ltd DGX $0.014 27.27% 1,130,000 Key Petroleum Ltd KEY $0.005 25% 1,372,788 Regal Resources Ltd RER $0.020 25% 643,800

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Wed, 06 Apr 2016 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/152262/comet-resources-ltd-among-asx-gainers-intra-day-67905.html
<![CDATA[News - Comet Resources to sell New South Wales base metal projects to Kidman Resources ]]> https://www.proactiveinvestors.com.au/companies/news/152260/comet-resources-to-sell-new-south-wales-base-metal-projects-to-kidman-resources-53751.html Comet Resources (ASX: CRL) has entered into an agreement to sell its Browns Reef lead-zinc-copper-silver project in New South Wales to Kidman Resources (ASX: KDR) for $500,000.

Proceeds from the sale will be used to advance Comet’s current projects and fund new project generation and acquisition.

The company is currently looking for a joint venture partner for its Utopia gold project in Western Australia and is planning an exploration project to locate and redrill a historic hole that intersected coal, lignite, bituminous and carbonaceous material.

Work is also continuing to attempt to commercialise the use of micro-organisms isolated during research, which have been shown to significantly enhance the degradation and remediation of oil wastes.

 

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.

]]>
Tue, 18 Mar 2014 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/152260/comet-resources-to-sell-new-south-wales-base-metal-projects-to-kidman-resources-53751.html
<![CDATA[News - Comet Resources dials into Central Asian gold belt hosting 180Moz Muruntau deposit ]]> https://www.proactiveinvestors.com.au/companies/news/152258/comet-resources-dials-into-central-asian-gold-belt-hosting-180moz-muruntau-deposit-43533.html Comet Resources (ASX: CRL) has entered into a conditional option agreement to acquire Kyrgyz Gold Pty Ltd, which has the option to acquire 90% of three drill-ready gold exploration licences in Kyrgyz Republic.

The licences occur within the Tien Shan Gold Belt in Central Asia that hosts a number of world class Orogenic-Type gold deposits including Muruntau (190 million ounces) and Kumtor (26 million ounces).

Muruntau is the world's largest open pit gold mine measuring about 3.5 kilometres by 2.5 kilometres and extends to a depth of 350 metres. Annual production is about 2 million ounces of gold.

Surface trenching undertaken over the Ashutor licence in the northeast of the Kyrgyz Republic has identified high grade gold mineralisation with notable surface trenching results of 50 metres at 20 grams per tonne gold and 30 metres at 15.8g/t gold.

This makes the licence prospective for the discovery of a near-surface high-grade gold deposit.

The other two licences, Jetymbel and Chakyrkorum, occur along strike (15 kilometres) from the Kumtor Deposit owned by Canadian mining company Centerra Gold (TSE: CG) with Jetymbel abutting the Kumtor Mining lease.

Previous exploration including mapping combined with surface and trench sampling, has verified the presence of Kumtor-style mineralisation with several geochemical defined drill ready targets.

These results, geology and structure show that this area has the potential to host significant, large tonnage gold deposits.

All three licences have identified drill ready targets, offering Comet the opportunity to rapidly upgrade the projects.

Comet has the opportunity to undertake 6 months of due-diligence over the licences before a decision needs to be made to exercise its option.

During this period, it is not required to incur any material expenditure, other than in respect of a monthly option maintenance fee and due diligence costs

Kyrgyz Gold holds the option to acquire the three licences from Warrior Resources for $1.25 million of which $250,000 must be paid in cash and the remaining $1 million in cash or shares of an ASX-listed company (possibly Comet).

Comet in turn will be required to pay Kyrgyz Gold shareholders either $485,000 in cash, of which $460,000 must be reinvested in Comet through a share placement of 4.6 million shares priced at $0.10 each, or $255,000 in cash with no reinvestment requirement.

It will also have to issue 5 million shares to Kyrgyz Gold shareholders as well as 5 million options.

 

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.

]]>
Tue, 21 May 2013 15:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/152258/comet-resources-dials-into-central-asian-gold-belt-hosting-180moz-muruntau-deposit-43533.html
<![CDATA[News - Comet Resources starts maiden drilling on Lake Dundas gold project ]]> https://www.proactiveinvestors.com.au/companies/news/152256/comet-resources-starts-maiden-drilling-on-lake-dundas-gold-project-37117.html Comet Resources (ASX:CRL) has started first drilling at its Lake Dundas gold project on the margin of the Western Australian Norseman-Wiluna Greenstone Belt.

The drilling will test for gold mineralisation in targets selected by geochemistry, structure and geophysics.

This is Comet's first drilling programme on the project.

The Lake Dundas project is located about 40 kilometres south of the gold mining centre of Norseman.


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.

]]>
Mon, 10 Dec 2012 16:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/152256/comet-resources-starts-maiden-drilling-on-lake-dundas-gold-project-37117.html