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ARS - ALT Resources

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ALT Resources Limited (ARS) is an Australian based mineral exploration company incorporated in April 2014 to acquire up to a 70% interest in tenements held by GFM Exploration Pty Ltd (GFM). GFM is the registered holder of three tenements located in the south-east Lachlan Orogen in New South Wales.

The Company intends to raise capital to fund exploration drilling at the Paupong and Myalla Projects. The Joint Venture's flagship Paupong Project is a significant new greenfields discovery. It comprises of a large system of gold-bearing quartz ± sulphide veins, stockwork and breccias located in a relatively unexplored region of the south-east Lachlan Orogen.

http://www.altresources.com.au
 
Heavily Oversold and GOLD DRILLING UNDERWAY!
Very tightly held stock, will rocket on any news!
Might be worth a little look and see.
 
ALT Resources starting to generate some interest.

The company has been reporting good drilling results from its Bottle Creek gold exploration project north-west of Menzies in South Central WA.

Plenty of room to move with a market cap of about $10 million.

 
Huge volume and a good move north today for ARS after the company announced high grade gold intercepts at the Southwark Deposit at the company's Bottle Creek Project.



 
Contained gold at Alt’s Bottle Creek almost doubles in latest resource upgrade


Alt Resources’ (ASX: ARS) Bottle Creek asset is proving a boon for the company with recent drilling leading to a third resource upgrade in less than 12 months and adding 149,000 ounces of gold and 2.88Moz silver.


A third reverse circulation drilling program was undertaken at the project and has boosted the Bottle Creek resource to 5.6 million tonnes at 1.72 grams per tonne gold for 309,000oz.


According to Alt, the discovery cost for Bottle Creek gold averaged $9.80 per oz.


Global resources across Alt’s Mt Ida and Bottle Creek assets now total: 6.8Mt at 1.85g/t gold for 406,000oz.


The project also hosts 3.8Moz of silver.


“Once again, the company has delivered a significant number of resource ounces at Bottle Creek for minimal amount of drilling and capital expense,” Alt chief executive officer James Anderson said.


“The cost-effectiveness of resource drilling at Bottle Creek is evident with this new resource upgrade delivering an additional 149,000oz gold and 2.9Moz silver from only 5,131m of drilling at an overall average cost of $9.80 per resource ounce.”


He added the company now has 316,000oz gold in the measured and indicated resource categories across its Mt Ida and Bottle Creek project areas.


This underpins Alt’s strategy to set up a treatment plant at Bottle Creek to process the gold recovered from Mt Ida and Bottle Creek. More...
 
Alt Resources to fast-track Bottle Creek gold mine into production within two years

Rapidly advancing gold explorer Alt Resources (ASX: ARS) is focusing its attention on bringing the historic Bottle Creek gold mine back into production within two years.


The mine operated for 18 months producing 93,000 ounces of gold before it was closed in 1989. The gold was extracted from two open pits that went to 50m depths with gold grades at the VB pit averaging 3.26 grams per tonne and 2.65g/t at Boags.


Previous operator Riot Tinto (ASX: RIO) subsidiary Norgold Ltd processed the ore through a carbon-in-leach and carbon-in-pulp plant that was moved during rehabilitation in the 1990s. More
 
Alt Resources begins drilling for gold at Shepherds Bush

Alt Resources (ASX: ARS) has kicked-off reverse circulation drilling at the Shepherds Bush prospect within its Mt Ida gold project in Western Australia.

Earlier this year, Alt carried out a review of historical drilling results at Shepherd Bush, which indicated broad zones of gold mineralisation were present.

Better intersections from historical exploration were 12m at 1.65 grams per tonne gold from 72m, 20m at 1.37g/t gold from 28m, and 32m at 0.91g/t gold from 48m.

According to Alt, the first holes in this latest campaign have already intercepted visible sulphide mineralisation and initial samples have been delivered for analysis. More...
 
ALT Resources rising off its lows after two good announcements this month regarding drilling at the Tim's Find project area of the Mt Ida South Project.

A total of 73 RC drillholes have been completed measuring ~3000 metres. On 2 June results from the first 20 drillholes was announced.



And yesterday results from the rest of the drillholes was announced:



The results look pretty encouraging to me. Solid grades at shallow depth. I imagine they could probably start getting that gold out of the ground pretty quickly.

Looks like resistance at 3c. ARS is up 13.64% to 2.5c today. Looks like the bottom is in for this little puppy.

 
Alt Resources (ARS) 2.3c market cap $13.5m

Might be someone who finds some interest in this weekly chart of ARS.
I own 100,000 shares picked up 4 months ago at same price as Friday's close.

Alt Resources (ARS) is issuing shares like confetti at these low prices to get things done. Had $1,599,000 cash left at end of Dec and has guided cash outflow of $611,000 for March Quarter.
Has 588 million FPO's at last Appx 3B as well as around 110m unlisted options and performance shares.

Its resources are situated at an old mining site last mined 1988-89 for 93,000 ozs gold.
What got me interested is the amount of inherited usable infrastructure on site: exploration camp, roads, airstrip, power generator, water bores, tailing dams. That and a two phase plan that would begin with little capital cost at a prospect called Tim's Find which has a 14,718 ozs @ 2.6g/t scoped mining target with potential for expansion. They say the orebody is from surface. It'll be mined, transported and processed by a private mobile mining services company called Blue CapMining Pty Ltd. Shallow open pit. A non binding term sheet has already been signed off between the companies and mining should start some time in June Quarter. Blue Cap will also provide ARS with a $3m working capital facility for ARS's share of start-up costs. Should be good at these gold prices.

After that they can embark on Phase two, being the mining and processing of the wider Mt Ida/Bottle Creek project which so far (incl Tim's Find) holds 519,000 ozs @ 1.54 g/t, about 2/3rds of which is measured or indicated @ 1.89 g/t. All open pit method. They say they want to build a processing plant for that - but takeover target? Probably find more ozs.

Not the sort of stock I would put a buy sentiment on but might interest a trader. The chart: volumes have come in and bigger bodied candles.

3 year weekly
 
ARS @ 2.1c
Hmm, still like it, just got an order filled for another 100,000 shares @ 2.1c, ok goldie spec I feel. I think the chart has prospects. Might sell half down the track and hold half longer term. Fresh drilling campaign started.

Held

26th February 2020
MT IDA AND BOTTLE CREEK EXPLORATION UPDATE
HIGHLIGHTS
Ø RC drilling commenced at Mt Ida and Bottle Creek gold projects
Ø 3,500 metre RC program planned across multiple deposits and targets
Ø Geological study completed on the high-grade Mt Ida “TIMONI” trend
Ø Further resource upgrade scheduled for release Q2 2020
Ø Maiden Ore Reserve and Pre-Feasibility Study due Q1 2020

All data monthly
 
Like the way m.d demurs when interviewer throws out '"billion dollar" number for resource ozs when its only ozs in ground much of which wont make it into mineable reserve. Also says the company is trying to avoid another dilutionary equity raise. He's hoping the 'Tim's Find' toll processed cashflow, debt facility from their contract miner (Blue Cap) and, later on, debt financing for a processing plant will largely see them through. Anyway I take some comfort from an m.d expressing reluctance to share dilute.
https://www.altresources.com.au/

 

ARS my pick for the March competition.
I added another 100,000 today @ 2.0c but see that sellers are now meeting buyers @ 1.9c

Only of interest to holders or potential buyers is that the board recently appointed a new director with veteran mining experience - Grant Harding. He is also current development manager and chief metallurgist for Como Engineers, and it is Como Engineers that is doing the pre-feasibility study, due this month, for the Bottle Creek and Mt Ida mining project. In the June Quarter Como should deliver a final feasibility study.
 
From one McHale posting elsewhere yesterday:

"I spoke with ARS today because I wanted clarification re the 48 holes mentioned in the announcement (I counted 13 holes in the ann.), and was told there are still plenty of holes to report.

So there are more results coming soon.

And I am told as soon as the mining permit is issued they will hit the ground running, they definitely want to be producing well before the end of Q2.

I also asked about managements feeling regarding takeovers and such, and was bluntly told "over my dead body".

My take on the tenor of our conversation was regardless of what is happening in the world right at the moment, that things at ARS are feeling very positive."

ARS 3 MTHS DLY
 
My third favourite gold speccie, ARS, plunged well below the main level of resistance/support of 2.0c during the Wuhan scare but has sprung back, closing the week @ 2.5c
Nice positive volume for last two days.
Events to anticipate:
W.A department of mining approval for the mining of Tim's Find cash generating pilot project. All work, including processing, to be done by privately owned Blue Cap Mining. Blue Cap will also stand for ARS's share of working capital.
Release of PFS and maiden reserve for the wider Mt Ida project (around end of April?)

ARS Daily
 
My pick for the May comp. Prefeas study and maiden reserve for Mt Ida project due soon.
Here's what the monthly chart looks like now - not bad at all, look at that record monthly volume and white candle. Bit of optimism out there ..
ARS All Data Monthly
 
ALT Resources (ARS)

ASX small cap gold companies

"Metallurgical leach testwork conducted by Alt Resources (ASX:ARS) has indicated that ore from its Mt Ida and Bottle Creek projects is generally free milling with average life of mine gold extraction rates of 91.8 per cent.

No unfavourable elements such as arsenic, antimony and tellurium were present while comminution tests highlight that the ore has low to moderate hardness abrasion.

Reagent consumption rates are in the low to moderate range, which is similar to other oxide gold projects.

Alt expects to deliver its pre-feasibility study for the projects in May 2020, while final pit designs for the 10 Mt Ida and Bottle Creek open pits are expected to be completed this week."

Alt Resources has delayed its prefeas and maiden reserve announcement till some time in May, previously April, due to being hampered by CCP Virus restrictions.

Alt Resources has extended its trading suspension to Thursday when it expects to make a corporate transaction announcement.
 
Haha, the ARS board says its looking upon the takeover offer favourably - this has nothing to do with all the management's unlisted options and unvested performance shares being included in the 5.5c/share offer from the suitor.

7th May, 2020
MEDIA RELEASE
The Company Announcements Office, ASX Limited
For immediate release to the market

Off Market Takeover Offer for ALT Resources Limited at 74% Premium to Last Closing Price

7th May 2020: Aurenne Group Holdings Pty Ltd ACN 627 857 176 (AGH) today announces that, through a
wholly owned subsidiary, it intends to make a conditional off-market cash offer of $0.0505 (5.05 cents) per
share for all the ordinary shares in ALT Resources Limited ACN 168 928 416 (ALT), (Offer).

AGH (through a wholly owned subsidiary) has today entered into a convertible note deed with ALT lending ALT
$3,679,296.00 on terms set out in the announcement released by ALT. The note is convertible into up to
122,643,200 ordinary shares in ALT.

AGH is making the Offer to acquire all the issued ordinary shares in the capital of ALT (ALT Shares) that it does
not have an interest in.
 
On September 14th, 2020, ALT Resources Limited (ARS) was removed from the ASX's Official List in accordance with Listing Rule 17.14, following compulsory acquisition of ARS's securities by Aurenne Ularring Pty Ltd under its takeover offer announced on 7 May 2020.
 
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