Right O money wise. I'm looking forward to the
weekend. Ellie, are you?
Sure. And happy Friday, OK.
Friday, happy Friday and I think we we joined forwards excellent
interview going live yesterday. I I actually reckon that the
late quarterly reporters out there thought they would get
away without a name and change. No, no, no, absolutely not.
Never fear, Ellie. We, we're, we're rolling it out
today. We, we, we never forget.
We never forget. And I'm gonna try my luck with
the new segment myself. I'm.
I've been thinking about some of the deals I've seen in the last
week. There's five of them.
And I just keep thinking about them so much.
And I thought I'd rapid fire and just tell you why they're still
interesting to me. The top five deals a week.
And spoiler, I actually think I got a bit too interested in one
of them, namely the one in a trading hall today.
But first, Ali, I want you to picture something, OK?
Imagine you're the kind of minor that truly cares about your
workers, but you're picturing it.
I'm picturing it. Yeah, you're not.
You're not the kind that's all talk, but the kind that really
gives a crap. You're you're growing
production, you're bringing new minds online.
It's time to show your workers that you care with the quality
of facilities they get while working away.
Don't install boring donners or a boring camp or you know, some
dry boring place for people to just sleep and exist.
Doesn't sound very fun. Make the accommodation as
comfortable as possible for the time you workers are away from
their families. This is where grounded comes in.
The legends are grounded. Don't just install, they design
these things. Up they do.
No, they're full service from concept to completion and the
design side is super impressive. The handle conceptual design,
feasibility studies, detailed renders, DA preparation and
submission and building perm applications, or just to name a
few. Your life is easy when when your
work is a living in a five star resort in in the Bush, Ali,
that's like this is a five star FIFO camp.
That's what this is. You need to review on these
things like Google reviews. If if you Google reviewed
grounded camps, they'd be that'll be 5 stars.
These are five stars. You can even check out a few.
I mean you've got the the Rockley Palms 1 they did for Rio
Tinto 262 new double Storey accommodation.
The one I it's a particular favorite of mine is the
Christmas creep at Fortescue. They put in an additional 200
rooms but my favorite bit they added a brand new Wellness
centre with a massage studio, a hair salon and yoga.
That is so cool. I love that you're ever going to
go FIFO, Ally. I think I know which which.
Companies, you've got to check that there's a.
Join Ford SQ in requesting Christmas Creek.
Yeah, I've. Got I'm going to need somewhere
to do my reformer plan. Love it to care about your
workers. Prove it.
Get grounded to make their life better.
Go grounded. All right, Ally.
So I've got some, I've got some, some deals that have piqued my
interest over the last few days. I thought, I thought I'd, yeah,
just wrap it into a bit of a segment.
And normally when there's a deal, we do a like a, a
relatively thorough breakdown. But today I just wanted to RIP
through, you know, a few of the ones that that over the last few
days I've just found, like, pretty damn interesting.
What's top of your list, Trev? What's #1.
The Alkane Mandalay merger, I know JD talked about this
already the day it came out, but I keep, I just keep thinking
about it. It's it's, it's actually a
really interesting deal to me. Both Alkane and Mandalay,
they're in that subscale kind of producer cohort.
So it's it's easy to overlook them.
This is a new premium merger. The pro forma is a billion
dollar company and they're going to produce 160,000 ounces of
gold in 2025. The tie up kind of catapults
them just from a production perspective into a different,
completely different P set that warrants kind of new eyeballs.
Yeah, you know, they kind of move out of the the category of
peers that are all, all in that kind of subscale production when
you're doing your, you know, you go producer peer comps.
So like there's a there's a smaller scale production cohort
with like blackout maker, you know, Bacon, Kingsgate, those
guys that don't get as much attention and they'll they move
into that peer group. It's like Bellevue, Ventura
Catalyst or Banda. It's on, it's on.
It's honestly what their performing production is.
It's going to be more than Capricorn and Emerald, but
obviously different unit costs and growth outlook.
So not, not visa fee, but I just, I've just found it
interesting. These are a bunch of small mines
that are in the portfolio. Small mines are typically high
cost, high cost equals leverage. So, you know, it's not like
it's, it's not a simple story. It's definitely like, you know,
there's a lot of stuff going around.
But, but I, I still find it interesting that production
profile is, is it's now more than respectable and to get like
a, a new premium deal over the line.
I think it, it works for all shareholders of both companies.
That's why I'm a fan of it. I'm kind of curious if someone
tries to to to interlope in some way now that Mandalay is, is
effectively in play without a, a new like with a new premium in
this merger, someone could come in if they wanted to, to pay a,
you know, a premium. Yeah, OK, Lots of goldies want
growth, right? And and here he's here.
He's here's something you don't you don't need to pay too much
of A premium to get it it. But you know, the the other side
of that argument of it being a target for an intellect bro,
like this is a merger of vehicles with with minimal
premium cross cross-border with a bit of, you know, lagging and
currency risks. So there's there's a fair bit
higher up the execution difficulty difficulty curve for
someone to really try to get it get in the way here.
Warranty into like fascinating and #2 you've got resolute
buying Cote d'ivo growth projects from Anglo Gold
Ashanti, so a bit of a move away from Mali.
Mali's Mali's been Mali's. Been tricky for Resolute but
this one really caught my attention yesterday.
It looks a a really interesting deal.
So Resolute they've they've purchased Anglo Gog's
development projects in Cote d'Ivoire, namely Deropo and ABC
project. They're only paying USA $150
million in staged payments. There's a royalty on the earlier
stage 1 and a small, small contingent in in addition, but
Deropa is the more advanced project of of the two.
And this came into Anglo Gold's portfolio via the acquisition of
Sentiment last year. Sentiment's got that giant mine
in Egypt and this was the development project that was
less interesting clearly to to Anglo Gold.
What, what, what the DFS was done on Deropo just last year in
2024, which showed 167,000 oz production profile for 1010
years. And the CapEx is it's like it's
decent CapEx right US $400 million.
But there's there's quite an interesting project here to just
to my eyes and it doesn't scream out of this world inexpensive
price to be to be paying for a pretty respectable production
profile. Yeah, fascinating.
Don't know. What you thought of it, Al?
I actually, I just caught up on it now, so I'm learning about it
just as we speak. So no.
I think it's in a part of Cote d'Ivoire that that, yeah, like
it's, I mean, Cote d'Ivoire is one of the more attractive
countries to operate, but there's variation in different
parts of the region. I'm not quite sure if this is
the, you know, the simplest part of Cote d'Ivoire to operate in.
However, on paper, like I'm pretty interested in this deal
and I think it's a really interesting move by by Resolute,
you'd you'd have imagined that that like Anglo Gold would have
run a process to to sell this. But the way that this came out,
there was like a swap of tenant like resolutes tenements in
Guinea. That was kind of part of it all.
It screamed a bit bilateral, which if it was bilateral,
that's a pretty cool outcome for for Resolute, but you would have
imagined there was a process. But anyway, I just find it
interesting. Takes me to my third deal, Ally.
This is a very funny 1 I think. Yeah.
So we're pivoting now to TIN. Tin and Morocco.
So Atlantic tin is getting acquired by Zhengy.
Inner Inner Mongolia, they're called.
This is hilarious for a couple of reasons.
Atlantic TIN is what became of the old ASX listed Kasbar
resources for the people that are rolled enough to to remember
Kasbar that was working on developing A-Team project in in
Morocco. And when when that stopped being
listed on the ASX and I'd have to do my research to to
understand all the history there effectively became majority
controlled by Parlor. And now that there's a a deal in
place for the project to be sold to Genie in in Mongolia for what
is a total equity value of $98,000,000 cash, The
fascinating thing about the announcement that's popped up,
it reveals the premium to last traded price is a.
Last traded price was about five years ago though. 1500% those
lucky Casbar shareholders who maybe they, I know, I know some
of them are a bit grumpy, but some of them probably thought
there's, there's, there's, there's there's no light at the
end of the tunnel. There's a yeah, I think, I think
some of them are still pretty, pretty frustrated.
But regardless, that's a, that's an astounding, an astounding
premium to ever say even though that was five years.
Ago. Don't say that everyday you
don't. Oh.
Love it #4 Ellie this. Ever got?
This was Tabani, yeah. The the, you know, African gold
developer, they, they announced this financing from Eagle Eye
Asset Management. They basically merged with a
strategic equity investment from Eagle Eye of around $15 million
plus a non binding intention for USA, $160 million debt facility
non binding. So you can't take up a grain of
salt. But regardless, it is
interesting because this family office Eagle Eye Asset
management, they keep popping up everywhere on African
Development. What other?
What other projects are they? Companies are getting involved.
Massive shareholder of Canyon, massive, massive shareholder of,
of Prospect Resources. And now, now to Barney.
But it's I, I talked about it on the party the other day.
It's, it's this bit like family office based in Singapore.
And while not explicitly stating it's the family office of Gareth
Gupta, it appears to be Gareth Gupta's family office.
Yeah, that, but you know, like those three companies that, that
that's the spread of bauxite, copper and gold in three
different African countries as well.
So there's a lot of diversity to what they're doing, but I'm kind
of interested in their strategy and what they're doing and, and
why and the decisions they're making.
So 11 I'm keeping an eye on. And to Barney, they've had a
nice recovery after wearing a lot of the collateral damage
from, you know, the drama that that unfolded, especially in
relation to to resolute in in Mali.
The share price is ticking back towards kind of levels where it
saw in in November last year. Yeah, it's pretty, pretty much
almost back there now. So you know there'll be an
exciting one to watch. And the fifth one Ally got gold
Rd. goldfields. I I am oops on this front.
I don't, I don't know if I don't know if I caused this, don't
know if it was if it was me, but Friday morning our our daily
e-mail. So this morning the director
special goes out 8:28 AM per time, 9 minutes later, 8:37 AM
per time Gold Rd. pauses trading.
How those things related. I included a rumour in in our
daily e-mail, the director special that Gold Rd. may have
received a best and final offer from Goldfield's a few days ago.
And in Gold Rd's trading halt, they reference, they reference
trading holders requested following media speculation
regarding a potential change of control transaction.
And the second point is that they'll come out of trading halt
on or before market open on Tuesday next week by provision
of an announcement to ASX regarding the corporate
transaction. I don't think there was any
other reporting on this rumour. I'm not sure, I'm not sure how
to feel about this one. But it looks like just the way
that they were. It looks like there was
certainly some, some, some some degree of truth to that rumour.
Because you would, you would not, yeah, your strategy would
be different if it wasn't true to this.
You kind of, you would just rebut the market rumours.
If it was just something that newsletter that was wrong, you
probably wouldn't even feel the need to make an ASX
announcement, to be honest. So I feel like if, if it was the
newsletter, my rumour, I don't know how I feel about that one.
But regardless, the, it appears there's actually a deal in
motion. And, and you know, my, my base
case is I expect to see revelation of what that deal is
whenever they come out of trade, be it Monday or Tuesday.
Yeah. And if there is something sort
of seems to be coming along the way, it's hopefully it's a great
outcome for for both sets of shareholders.
So we'll have to wait and see. Indeed, Ali, indeed, Speaking of
great outcomes for shareholders, how about the how about the
companies that reported at like 7:00 PM on, on the 30th of
April, the quarterly report? The old quarterly name and shame
segment. So you're right Trevor is that
time of year again. So for those who aren't super
familiar, mining companies like non producers have to put out
their Appendix 5B, which is basically their quarterly report
or no later than the last day of the month following the
completion of reporting quarter. So in this quarter's Case, No
later than the 30th of April for the court ending 31st March.
And and naturally, you know, there is a bunch of companies
that leave this quarterly report, you know, to be released
on a six to the last day possible.
But then there's also a a cohort that leave it to the absolute
latest on the last day possible. You know, aftermarket.
The, the thing that baffles me is it there is no, it is not a
surprise or some sort of new revelation that mining companies
have to report by a certain time each quarter.
So I I don't understand why some companies leave it so late.
Perhaps that's just life. Doing what?
Ali I don't know, The repeat offenders pop up time and time
again. I actually think they're doing
it for the marketing now, like maybe.
Who knows who knows, but let's let's get into it.
Let's let's do I'm going to do a a a rapid fire on on the top
five and the the next 5 after they will get a special meeting.
All right. I'll kick it off Ally. 7:16 PM
Vertex. This was the the latest of all
of them $40 million market cap Gold Co.
It looked like they've been keeping busy at their reward
gold project in NSW, refurb their 110,000 tonne per annum
Gecko gravity gold plant, plant commissioning commenced and
they've started producing from their stockpile.
Why did they report at the last minute if they've got something
to update? I'm confused.
They've actually commenced underground mining development
at reward. Interesting.
Yeah, so I would hope that they are using some Sandvik Ground
support when they're doing the underground development there at
Reward. It's the only name you need to
know. You can get a whole ground sport
kit and kaboodle sorted for you by Derek, Kurt and the legendary
team at Sandvik Ground Support. That is the absolute bare
minimum you need to be doing Ali if you're underground mining and
if you're if you're bare minimum you need to be doing is
reporting on time. Bare minimum you need to be
doing is using DSI or Britain's Sandvik ground support and
getting in touch with Derek Kerr, the legendary team that is
there because they have split sets, mesh, POSI box, NB, Xbox
dynamic support, static support and heaps more.
Trav's even got the T-shirt on today.
Have a flick around Travis. Show the money miners what's on
the back of your shirt. It says on there for the audio
views. We keep people safe.
What more could you want? I feel safe wearing it, Ali.
Keeping your ground and people safe.
Go Sandy, go Sandy. Actually I just, I just figured
out why they probably reported at the very last minute Ali,
they're, they're gone mining with only $1.4 million cash left
at the bank so. Yeah.
So hopefully some of the, hopefully some of the proceeds
from processing the stockpiles can keep them going.
But yeah, it sounds like they've been quite, quite busy.
Second one, this is a previous offender last quarter, Anika
Tambang. I hadn't really heard of this
company before. They look like a big Indonesian
miner sort of producing and processing a range of different
commodities. It sort of appears like their
main listing is on the Indonesian Stock Exchange and
they've got like some sort of a smaller listing on ASX looks
like around like a 4 billion market cap, Aussie dollar
equivalent. So not the usual sort of, you
know, company we say in this segment. 707 Alpha Minerals,
precious based metals mineral $5 million market cap, some
Brazilian expiration assets only had 400K in the in the bank at
the 31st of March. From the 31st of March onwards,
they've they've, they've, they've done a letter of intent
with Pan American Silver Corp. They've you know, they're doing
some doing some DD on that asset.
They did a bit of an entitlement off our and top up, but yeah,
just a just another just another junior keeping busy updating,
updating shareholders, raising a bit of money to keep the lights
on and reporting light. Seven O 6 horseshoe medals, so
another exploration minnow about 11,000,000 market cap.
This is like the fourth time they've been on this.
List, yeah, I think they've come up a few times.
So they're focused on very commencing development
activities at their Horseshoe Lights Copper Gold project in
WA. I signed a deal with Melody Gold
for the right to process certain sort of gold surface materials
at Horseshoe. They're continuing to pursue
early cash flow opportunities from DSO, sales of existing
copper stockpiles and discussions with copper con off
tech partners. I sort of look through the last
few quarterlies that that's sort of been mentioned in all last.
It seems to be going on for a while basically.
What hasn't been going on for a while is that that $4 million
con note that was I think that was announced like aftermarket
on a Friday one week during the quarter.
And it's a bit gnarly in my opinion.
Yeah. And then they are also doing a
strategic review of the Glenloth Gold project in SA, which is
next to Barton Gold's tongue, Killia. 7:02 PM Paterson
Resources Gold Explorer out in the Paterson province of WA.
Name suggests it's all very light on the news front.
Only one project related announcement in the six months,
which is a Geocam test test work result last week.
Quarterly reports. Pretty light on too.
What really matters here, $2,000,000 in the bank, probably
way up a little late. Special mentions Ali.
Who have you got? Alrighty, we got 657 Helix
Resources, 656 Rarex 653M3 Mining, 650 Ascari Metals and
647 Macro Metals. Alright.
Get your reports in earlier next time please, Companies I.
Think I did suggest last time a carrier pigeon or I think I
provided a, a, a YouTube guide link on how to set outlook
reminders so that I'm sure there's a whole range and other
tools and that. So try and try and improve a bit
better next quarter, guys. I reckon, I reckon, I reckon the
call to action is, is very valid and I'll, I'll be looking into
that carrier fridge and process inside the next reporting
period. But I want to thank our partners
much more promptly than than a carrier pidgeon would.
Who have we got Ali, our wonderful partners mineral
mining services, We've got, we've got a conference, GRX
conference by the way too. If you want to head to that.
We've got a discount code in the show notes for you to use to get
like nearly 200 bucks off the tickets.
You may as well do it. It's it's in Brisbane on the
20th of 22nd of May 19. Get around it grounded
wonderful, wonderful partner Sandvik ground support.
The only support you will ever need CRE insurance, K drill, KCI
site services, black diamond drilling services, S
consumables, cross boundary energy, WA water borders, the
premier water well drilling company and Quattro project
engineering. Don't get around all of our
partners, Ellie. Pedro, Pedro.
Information contained in this episode of Money of Mine is of
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objectives, financial situation or needs of any particular
person. Before making any investment
decision, you should consult with your financial advisor and
consider how appropriate the advice is to your objectives,
financial situation and needs.