KAL - Kalgoorlie Gold Mining

[System]

Kalgoorlie Gold Mining Limited (KAL) is an Australian company incorporated on 5 November 2020 by its parent company, Ardea Resources Limited.

Upon completion of the Demerger Implementation Deed and listing on ASX, the Company will own, or have the right to own, the rights to the tenements comprising the following projects in Western Australia.

Project area	Mineral rights
Bulong Taurus Project Historic Taurus gold mining centres	Gold rights
Laverton Tectonic Zone Zelica South, Pinjin West prospects	All minerals
Keith Kilkenny Tectonic Zone Aubils, Boyce Creek/Jump Up, Rebecca	Gold rights
Perrinvale Project Zuleika Shear Zone	Gold rights
Kalgoorlie Project Gidgi, Ninga Mia, Boorara prospects	All minerals
Pianto South Project Major ENE structure, gold endowment	All minerals
Davies Dam Project North Kalpini, Kurnalpi gold mining areas	All minerals

After listing on the ASX, the Company intends to systematically drill its defined gold production targets at Bulong Taurus, plus complete initial target generation work on all other tenure.

KAL will list on the ASX on 18 November 2021.

Kalgoorlie Gold Mining

Kalgoorlie Gold Mining Limited is a mineral exploration company committed to increasing shareholder wealth through the acquisition and exploration of mineral resource projects throughout the Kalgoorlie region of Western Australia.

www.kalgoldmining.com.au

 

[Dona Ferentes]

Listing date	17 November 2021 2:00PM AEDT ##
Company contact details	https://www.kalgoldmining.com.au/ Ph: +61 8 6244 5136
Principal Activities	Exploration and Mining
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	KAL
Capital to be Raised	$172000,000
Expected offer close date	26 October 2021
Underwriter	Not underwritten. Amicaa Advisors Pty Ltd and MST Financial Services Pty Ltd (Joint Lead Managers)

- not sure about the Capital to be Raised amount

List it did, on the 17th. Opened at 19c and now 18c

 

[Dona Ferentes]

List it did, on the 17th. Opened at 19c and now 18c

fell back to $0.02, ....and now, up 250 percent

Kalgoorlie Gold Mining announces the discovery of newly identified, extensive gold mineralisation at Pinjin (to be named “Lighthorse")
• Thick, high-grade gold intercepts at Lighthorse include:
o KGAC24152: 17 m at 4.81 g/t Au from 48 m, including 8 m at 9.21 g/t Au from 52 m (hole ends in mineralisation)
o KGAC24153: 4 m at 4.72 g/t Au from 52 m (hole ends in mineralisation)
• These intercepts form a high-grade centre to previous results (ASX: KAL 18/12/24), including:
o KGAC24045: 8 m at 2.29 g/t Au from 60 m, including 4 m at 3.66 g/t Au from 64 m
o KGAC24036: 4 m at 1.05 g/t Au from 52 m
• Lighthorse is a KalGold-generated, greenfields gold discovery, characterised by:
o A 200 m wide primary gold target on the discovery section, open down dip.
o A 600 m strike, parallel to the Laverton Tectonic Zone, open to the northwest and southeast.
o Crosscutting mineralised structures extending over 800 m, open to the northeast.
o A footprint larger than either KalGold’s Kirgella Gift or Providence gold deposits
o No outcrop, and no effective historic drilling.
• Extensive, contiguous, widely-spaced intercepts suggest a large primary gold system obscured by transported cover. Further drilling is required to define the system’s full extent.
• Lighthorse is located in the southeast of the Eastern Goldfields, an area which is becoming a focus for gold discovery and development.

It is located:
o 1 km west of KalGold’s Kirgella Gift and Providence gold deposits,
o 12 km south of Hawthorn Resources’ (ASX:HAW) Anglo Saxon Gold Mine,
o 22 km northwest of Ramelius Resources’ (ASX:RMS) Rebecca Gold Project
o 30 km east of OzAurum Resources’ (ASX:OZM) high-grade gold discovery at Mulgabbie North
• A priority follow-up RC drill program is being fast-tracked for March 2025, pending rig availability.

and someone got in before yesterday's trading halt

 

[finicky]

Sounds great until you look back on what they've done to shareholders price-wise over the +3 years since listing.
It's a scenario we bottom grazing speculators fantasize about though.

Not Held

 

[finicky]

It's a farm-in but haven't found yet what percentage they own.
From the last Qtrly:
"Kalgold is well funded and ahead of schedule to satisfy its farm-in obligations at Pinjin"
Close to Northern Star's Carosue Dam operations as well as Ramelius's (RMS) planned mine and processing plant at Rebecca-Roe. Ramelius has suggested that it envisages Rebecca-Roe as evolving to take in stranded assets in the area.

 

[Dona Ferentes]

Sounds great until you look back on what they've done to shareholders price-wise over the +3 years since listing.
It's a scenario we bottom grazing speculators fantasize about though.

I'm more a bottom gazer.

132 million shares traded on Friday after coming out of TH. And held on well throughout the day.

 

[Dona Ferentes]

this slipped through, from the IPO ... see

Security code	KAL
Capital to be Raised	$172000,000

 

[TimeISmoney]

More drilling at Lighthorse under the supergene. The results so far are looking promising.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02921160-6A1254181

 

[TimeISmoney]

Seeing another breakout before drilling results.

 

[TimeISmoney]

SP slowly climbing back up, waiting for essay results to come through.

 

[Miner]

Market will hopefully read and accept the report being an exceptional one

 

[Miner]

Follow Up drilling also invites money and CR.
So it will be a knee jerk reaction in the beginning to give opportunity to peg the CR price (IMO)
Predicted price before market trades

 

[Miner]

In reality market price did not spike and went down. Probably fearing CR and dilution.
Technically, there is a merit for me to hang on

 

[TimeISmoney]

In reality market price did not spike and went down. Probably fearing CR and dilution.
Technically, there is a merit for me to hang on
View attachment 197558

It seems to be a tree shake for most of the gold miners this morning. It might go the other way in the next few days.

 

[Miner]

@Sean K , @peter2 any commentary on KAL fall out post drilling?

 

[Sean K]

@Sean K , @peter2 any commentary on KAL fall out post drilling?

Has it met expectations after the discovery holes on 7 Feb? Mr Market must have been expecting better.

 

[Miner]

Has it met expectations after the discovery holes on 7 Feb? Mr Market must have been expecting better.

Good point.
I could not find when KAL gave or implied expectations?
Have to dig old reports

 

[houtman]

@Sean K , @peter2 any commentary on KAL fall out post drilling?

Perhaps lack of leverage at these prices?

Shares on issue - 376m
Varied options - about 170m

Total fully dilutes - 546m @ 6c = $33m.

also are they earning in for 75% of this project ? (I only had a quick look this morning), if they are then could argue Project MCap is closer to $50m.

Maybe too high for this stage.

 

[Sean K]

Good point.
I could not find when KAL gave or implied expectations?
Have to dig old reports

Hole 152 was very good and probably the main reason for the spike on 7 Feb.

That hole and 153 ending in mineralisation at those grades created a stir I think.

These latest results aren't as good, even though they've proved more gold.

One thing they don't show is how those 7 Feb holes related to the new drilling. The cartoons they've produced don't include the 7 Feb drill traces. Not sure why they haven't done that. Surely follow up holes should have been beneath the ones ending in mineralisation. Especially at 4 to 9 g/t. The MD says this extends the mineralisation to depth, but they're not showing it. Strange.

7 Feb ann:

15 Apr holes:

 

[Miner]

Hole 152 was very good and probably the main reason for the spike on 7 Feb.

That hole and 153 ending in mineralisation at those grades created a stir I think.

These latest results aren't as good, even though they've proved more gold.

One thing they don't show is how those 7 Feb holes related to the new drilling. The cartoons they've produced don't include the 7 Feb drill traces. Not sure why they haven't done that. Surely follow up holes should have been beneath the ones ending in mineralisation. Especially at 4 to 9 g/t. The MD says this extends the mineralisation to depth, but they're not showing it. Strange.

7 Feb ann:

View attachment 197589

15 Apr holes:

View attachment 197591

Excellent and thanks.
I read the report again.
It's ambiguous.
One hand the headline says RC. Then it said AC and require to undertake RC to confirm.