Near production gold deposits in a world class gold belt with Ni-Cu-PGEs potential
Stock Code:
ASX: MAU
Company Exposure:
Gold, Nickel, Rare Earths
Project Locations:
Australia
Magnetic Resources (ASX: MAU) is a dynamic and unique gold company whose primary focus is the advanced gold assets in the Laverton region of Western Australia. These assets are large scale and at surface. The shallow high-grade gold and its very close proximity to existing mining operations and infrastructure, represent the unique point of difference for investing in MAU. MAU expects to complete its feasibility study in September this year and hopes to start mining in H2 next year (2024).
Investment Highlights
- Updated total resource of 13.5Mt @ 1.4g/t containing 605Koz at 0.5g/t cut-off (indicated & inferred)
- Feasibility study to be complete by end of Q3 this year, 2023
- Near term production estimated H2 next year, 2024
- Expected very low capex due to resource starting at surface deployment of contract mining and the proximity of nearby processing plants in need of ore (8/15/35 & 45km away)
- Strategic location – Prime, 100% owned tenements in the heart of Laverton and Leonora goldfields, neighbouring very large deposits including Wallaby (7Moz), Sunrise Dam (16moz), Granny Smith, and others
- Established nearby infrastructure, roads, power, skilled labour mine services & processing plants
- MAU’s deposits are exceptionally shallow and have excellent metallurgical properties with very high recoveries, which are expected to be able to be toll processed by any one the four nearby processing mills hungry for ore
- M&A is prevalent in the Leonora-Laverton area including Dacian, Genesis, Saint Barbara, NTM, Brightstar, and others. M&A adviser already appointed and while MAU is open to a proposal, it’s not reliant on one to progress to mining due to toll treating & contract mining leading to very low startup costs which can be financed through modest debt
- Additional Ni-Cu-PGEs & REE potential
>> Near the Chalice Gold Mine’s Julimar discovery
>> To be spun out from MAU to list on the ASX. MAU will retain ~30% of the float - Highly experienced team with an excellent track record and a board based in Singapore and Australia with extensive capital markets and mining experience
