KNB - Koonenberry Gold

[houtman]

This was going great, until it wasn't. Not sure why with some of the intersections at Sunnyside.

There's four more holes due in early July that will show whether it's a larger deposit of just a pipe.

There's a lot of hysterical drill holes in this deposit and I assume they were by GUE as mentioned by @houtman. But, why did they sell it with hits like 175m @ 1.8g/t?


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GUE sold to chase Uranium in USA when Uranium was hot. It hasn’t worked out.

KNB was running hard due to Emmanuel Datt buying and pushing up to 19.9% ownership.

He wasn’t happy with how the board was and got his man installed, who not long after, resigned.
Datt has since sold to a LRT and LSG I believe, funds who are both lead by geologists, so quite a lot going on.

I don’t hold atm.

 

[Sean K]

GUE sold to chase Uranium in USA when Uranium was hot. It hasn’t worked out.

KNB was running hard due to Emmanuel Datt buying and pushing up to 19.9% ownership.

He wasn’t happy with how the board was and got his man installed, who not long after, resigned.
Datt has since sold to a LRT and LSG I believe, funds who are both lead by geologists, so quite a lot going on.

I don’t hold atm.

I read a report somewhere recently with some reporter saying this could be an early days DEG Hemi type thing.

But, when I saw that GUE had done lots of drilling around it and walked away I became skeptical.

This lode could only be 200x200x75 and that's it.

The next 4 holes will be telling, even though they're only 50m step outs by the looks.

GUE obviously stopped drilling around it by all those other historical holes identified on the cartoon that must have turned up dust. So, more skeptical than not.

 

[ShareSuccess]

30 JUNE 2025 Lion increases Koonenberry interest to 9.2%​ Lion Selection Group Limited (ASX:LSX, Lion) is pleased to announce it has purchased an additional 25 million Koonenberry Gold (ASX:KNB, Koonenberry) shares from Datt Capital Pty Limited and its associates (Datt) through an off-market purchase for 3.0cps. This purchase increases Lion’s ownership of Koonenberry to 9.2%. Koonenberry is testing a new target at Enmore near Armidale in North-Eastern NSW. Enmore has been drill tested historically but Koonenberry is drilling an adjacent target area which has so far shown to be materially better mineralised than the historic results. The new target area is a sheared granite host rock (adjacent to previously drilled sediments), where Koonenberry has reported high tenor gold drilling intersections such as 172.9m @ 2.07g/t Au from 171m (hole 002)1. Drilling results have been returned from a small footprint area to date, however they demonstrate a thick mineralised and altered zone which contains intervals of high-grade gold. This represents a small portion of a target area that strikes for 2km as recently defined by new surface geochemistry results2. The large and mostly untested search space with hallmarks of a potentially large gold system at Enmore underpins growing Lion’s investment in Koonenberry. Lion only rarely invests at the pure exploration stage because of the risks associated with such early-stage ventures. Exceptions may only be made when the opportunity features highly capable management and contains multiple opportunities to make discoveries, and these factors strongly underpinned Lion’s investment in Koonenberry. The Koonenberry board and management have shown deep conviction for a new target underpinned by high quality technical work to acquire Enmore and make the discovery which is now underway. In addition to Enmore, Koonenberry has a portfolio of 100% owned and join venture projects across NSW that provide ongoing exposure to further discoveries. The shares purchased from Datt by Lion are subject to a voluntary escrow expiring on 28 November 2025. The Koonenberry board have approved a transfer of the block of shares with the escrow to remain in place. Lion Managing Director Hedley Widdup said: “Koonenberry has progressed to become a key holding for Lion, providing exposure to an in-progress discovery that has strong hallmarks of scale and quality. This latest purchase has been done at a price which is very attractive compared with the upside that we think remains both at Enmore and across Koonenberry’s portfolio.”

 

[Sean K]

This was the article I read comparing it to Hemi.

I have seen MDs do this sort of thing before (KK at CEL) and they've gone on to look pretty stupid.

Kristie Batten: Koonenberry Gold sees shades of De Grey success story at Sunnyside - Stockhead

Koonenberry Gold boss Dan Power thinks its Sunnyside gold prospect in New South Wales has shades of De Grey's landmark Hemi discovery.

stockhead.com.au

The Hemi comparison​

De Grey Mining discovered the Hemi gold deposit in late 2019, but it wasn’t until 2020 when the stock really started to run. That provides some inspiration for juniors like KNB.

“It turned out to be an 11 million ounce deposit,” Power said.

He pointed out that the 2.5Moz Diucon deposit returned 72m at 0.8g/t gold and 121m at 1.1g/t gold in early holes, while the 1.5Moz Crow deposit returned 20m at less than 1g/t gold in the first hole.

“When you go back and you compare that with some of the intercepts that we’ve been reporting to the market, I’m genuinely excited by what we’re seeing at Sunnyside,” Power said.

“I’m not saying that we’ve got another Hemi discovery, but I would take 20% of that. De Grey was bought out for $5 billion and we’re a $35 million market cap company, so I think you’re seeing really great value with how we’re being valued in the market at the moment.

“It’s also very interesting that Hemi is a granite-hosted system on the margin of what they call an intrusion, but that’s another name for a granite and sediments, so it’s a similar geological setting – another shear zone-hosted gold deposit.”

 

[ShareSuccess]

Was very interesting When i looked at Market index & Datt Capital Pty Limited was accumulating a Lot of shares up until may where they were buying from 3.5 cents up until 9 cents, about 171 Million shares when the stock Collapsed & went back to 3 cents....Did they Take Profits on the way up 3X....??

 

[houtman]

I read a report somewhere recently with some reporter saying this could be an early days DEG Hemi type thing.

Yeah, the earlier " Looking for an Olympic Dam style deposit" trope has been replaced with "Hemi style" by many junior CEO's.


I'll have another look at their next capital raise, see if LRT and LSX are still keen to hold.

 

[Sean K]

Yeah, the earlier " Looking for an Olympic Dam style deposit" trope has been replaced with "Hemi style" by many junior CEO's.


I'll have another look at their next capital raise, see if LRT and LSX are still keen to hold.

Might have seen a bottom down there. Punters seem to be backing that they've found something.

Will be resistance at this level but risk is on.

 

[Sean K]

Picked in the monthly comp. Reason is that there are four holes (circled in yellow) to be released in August that will (hopefully) confirm that this deposit extends to the SW.

With the previous drill holes returning 100m + at 1 g/t with some very high grade sections there's no reason to think this might not continue both to the left and right.

 

[Garpal Gumnut]

This is a nice recovery chart which may have had something to do with stock holdings by Mr.Gu. A nice cheesy outcome in the end. I may have a poke later today.

I agree about the drilling prospects @Sean K and the 4 are not the only ones and the 8.7 shows 5.5 quarters of cash so a CR is a bit away if needed.

gg

 

[Sean K]

This is a nice recovery chart which may have had something to do with stock holdings by Mr.Gu. A nice cheesy outcome in the end. I may have a poke later today.

I agree about the drilling prospects @Sean K and the 4 are not the only ones and the 8.7 shows 5.5 quarters of cash so a CR is a bit away if needed.

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gg

The reason for the smashing in May-June was the Datt Capital debacle. It took me a while to read into it and watch some reviews by LSX to be convinced that was a blip and it would recover.

MC of around $50m for something with such potential looks very low.

It's still a dart throw at this stage but those drill results are hard to look past. The previous owners were just drilling in the wrong dirt.

 

[Sean K]

The previous owners were just drilling in the wrong dirt.

@Garpal Gumnut check out all the drill holes in the sediments when the higher grade gold is actually in the granite. Morons. No wonder GUE turned to uranium.

 

[Garpal Gumnut]

I did not buy @Sean K

gg

 

[Sean K]

Those last four holes have been released and unfortunately not as great as some of the other ones but it does extend the deposit to the SW.

Reading into the detail they think they might have missed the up plunge high grade stuff they hit in the first six holes.

Would be interesting if they did a DD hole to 1K down the interpreted mineralised zone to test depth potential.

Not sure if the punters will like this unless they read past the headlines.

 

[Sean K]

Punters did not like the last four holes at all. Clearly there were expectations built in that they'd be at least as well mineralised as the previous six holes. Fingers crossed that this Sunnyside Shear Zone continues to be mineralised along trend.

Another nice colourful announcement out detailing their follow up targets in the yellow circles on the cartoon.

They keep on including a dot point on their anns that they're "well funded" which is of high concern.

 

[Sean K]

The gloss has gone off on the Koon after the the corporate shenanigans and the last 4 holes which didn't live up to the high hopes of the first 6 which were quite exceptional. Hard to believe it's back to where it was before those holes like 170m @ 2g/t were announced.

I think the corporate stuff may have blown over now but it could also indicate that management aren't as tight as you'd hope. Although, Lion and Lowell seem to have done their DD so maybe it's a fresh start from here.

Looks like they'll be infilling Sunnyside a bit and testing Hand in Hand for some similar type of blobs of gold. Drilling this month, if weather permits. They say that quite a bit. Not sure what's wrong with the weather up there. Must be global warming or something.

 

[farmerge]

The gloss has gone off on the Koon after the the corporate shenanigans and the last 4 holes which didn't live up to the high hopes of the first 6 which were quite exceptional. Hard to believe it's back to where it was before those holes like 170m @ 2g/t were announced.

I think the corporate stuff may have blown over now but it could also indicate that management aren't as tight as you'd hope. Although, Lion and Lowell seem to have done their DD so maybe it's a fresh start from here.

Looks like they'll be infilling Sunnyside a bit and testing Hand in Hand for some similar type of blobs of gold. Drilling this month, if weather permits. They say that quite a bit. Not sure what's wrong with the weather up there. Must be global warming or something.

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@Sean K I guess that all these colourful graphics keeps someone gainfully employed.
Looks good on paper.

 

[finicky]

Don't hold or follow but the chart's looking kind of interesting if it can make a higher low to that made in June? Momentum indicators showing divergence and volume is weak during this recent decline and the price is hugging recent downtrend resistance.

DAILY

 

[Sean K]

Don't hold or follow but the chart's looking kind of interesting if it can make a higher low to that made in June? Momentum indicators showing divergence and volume is weak during this recent decline and the price is hugging recent downtrend resistance.

DAILY
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Looks a bit more interesting now finicky. I've been waiting for a sign that it was going to turn around from this month long slow slide. Today's intraday bar is looking positive, but the day's obviously not over.

The next phase of drilling was supposed to start in late August, pending the weather, so I expect a 'now drilling' announcement momentarily. The weather is fine in Armidale.

 

[finicky]

@Sean K
Yes, above the downtrend and with a hope here of making a higher low to that of June.

Not Held

 

[Sean K]

@Sean K
Yes, above the downtrend and with a hope here of making a higher low to that of June.

Not Held

This looks like it's started going back up finicky. Intraday, but up through the MAs and a couple of higher lows. Tasty.

The weather is fine in Armidale so the drills should be poised to start spinning.