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ASX NEW RESOURCES FLOATS: 2009-2019

Edjudina IPO, Mont Royal flagged an exploration
spend of $1 million in its first year and $1.5
million for the coming 12 months.

Mont Royal undertook its IPO holding an
option over the Yule Brook gold project in
the Pilbara, however, the company elected
not to proceed with the acquisition from
Centrepeak Resources Group.
Sydney-based Mont Royal is chaired by
Gary Lawler, with Peter Ruse (executive
director) and Michael O’Keeffe (non-
executive director) adding their expertise to
the three-person board.

Macarthur Minerals Ltd consumption of coking coal and improved Keren Paterson
(ASX: MOI) environment emissions standards.”
Shortly after completing its ASX listing,
Macarthur Minerals Ltd (ASX: MOI) is out to Macarthur entered into a binding agreement
prove that juniors can be successful in the with Arrow Minerals Ltd to acquire the
iron ore space. rights to almost 5,000ha adjacent to its
After more than a decade on the TSX-V, Moonshine magnetite deposit.
the Brisbane-based company finalised an This tenure will be used for construction
ASX listing on December 6 post a $5 million of supporting infrastructure, including the
IPO. It was an exercise about five years processing plant, camp, airstrip, waste
in the making, but Macarthur is hoping its rocks dumps and a tailings storage facility.
transition from explorer to producer will be It also paves the ways for construction of a Trigg Mining Ltd (ASX: TMG)
significantly quicker. private haul road from Lake Giles through to
Macarthur arrived on the bourse armed with the open access Perth-Kalgoorlie railway. Timing can be everything for a new listing
an offtake deal with Glencore for 4 mtpa for and after a year of progress for the entire
the first 10 years of operations from Yilgarn- Mont Royal Resources Ltd potash sector, Trigg Mining Ltd (ASX: TMG)
hosted Lake Giles, about 175km north- investors may look back on 2019 as the
west of Kalgoorlie. Glencore’s offtake deal (ASX: MRZ) ultimate sweet spot to hit the market.
includes an option for a further 10 years. Mont Royal Resources Ltd (ASX: MRZ) The last year has seen major advances
A PEA was completed on Lake Giles in reported that all lithologies had associated throughout the cohort of ASX-listed potash
June, estimating $US326 million (plus $44 quartz veining throughout, however, a developers with the likes of Danakali
million contingency) would be required to greater intensity of veining was observed Ltd, Kalium Lakes Ltd, Australian Potash
establish a 3.4 mtpa operation producing proximal to the interpreted position of the Ltd and Salt Lake Potash Ltd building
a high-grade blended premium magnetite Pinjin Fault, which also hosts Saracen momentum on their projects and, in some
concentrate above 65% iron. Mineral Holdings Ltd’s Safari Bore and cases, attracting major funding proposals.
Key financials from the study included life- Deep South gold deposits. Trigg has some way to go to emulate its
of-mine free cash flow of $US1.4 billion from First-pass drilling tested about 10km of potash peers, but the company appears
revenue of $US6.8 billion, based on a mine prospective Archean greenstone, centred satisfied with its progress to date.
life of 31 years. on targets identified from an earlier sub- Having raised $4.5 million prior to its
Macarthur headlined a news release on audio magnetics survey. Best results October 3 listing, Trigg launched into activity
January 13 outlining its plans for the year included 5m @ 84 ppb gold and 1m @ 74 in the December quarter, reporting a high-
ahead as: “Iron ore the commodity for ppb gold. grade SoP discovery at its Lake Throssell
2020”. Upon completion of the maiden drilling, discovery in Western Australia following a
“The strong iron ore price continues to Mont Royal said it would continue to successful hand-auger sampling campaign
trade in a spot range [for the last quarter] evaluate the geochemistry and undertake which returned high-grade samples of up
of $US80-93/t for 62% iron ore and this is strain mapping. to 6,660 mg/L potassium with an average
creating momentum in the global iron ore “Further evaluation of results will be grade of 5,29 mg/L SoP equivalent.
industry,” Macarthur executive chairman presented to the Mont Royal board for Trigg managing director Keren Paterson
Cameron McCall said. consideration regarding future field work said the results showed Lake Throssell was
“Historically, iron ore prices tend to retreat in programmes,” the company said in its shaping up as a “significant SoP project”.
the lead-up to the Chinese New Year period September 2019 quarterly report. “These high-grade results across the playa
when mills generally reduce production, Edjudina is comprised of four exploration and the potential scale of the underlying
but this does not appear to be the case this licences covering 24sq km and considered palaeochannel makes this discovery one of
year. highly prospective for Archaean lode-style the most important for Australia’s emerging
“The company’s focus remains on gold deposits. It is hosted in the same SoP industry,” Paterson said.
delivering a high-quality, low-impurity district as Carosue Dam (Saracen), Sunrise The results prompted Trigg to apply for two
magnetite fines product [plus-65% iron] Dam (AngloGold Ashanti Ltd) and Red new tenements north and south of Lake
which will target Asian steel mills that are October (Matsa Resources Ltd). Throssell along the interpreted underlying
focused on producing quality steel products, At the end of September, the company’s palaeochannel.
enhanced furnace efficiencies, reduced cash balance was $4.14 million. During the

aUSTRaLIa’S PaYDIRT FeBRUaRY 2020 Page 61