Coffee with Samso
This is Coffee with Samso. Samso will have a coffee with someone about something that is interesting and from a different perspective in business. It is a simple coffee conversation with no formalisation of style.
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Coffee with Samso - An Emerging Gold Mining Story | Horizon Minerals Limited (ASX : HRZ)
07/31/2025
Coffee with Samso - An Emerging Gold Mining Story | Horizon Minerals Limited (ASX : HRZ)
Coffee with Samso Episode 207 is all about a company that is feeling left behind in the midst of a unprecedented gold price rush. Gold miners, the producing companies on the ASX, are all buoyant and experiencing an emotional high on valuation. Shareholders are in a state of euphoria but in the rush, there are always some hidden value. The hidden value that is typically brushed aside by the juggernaut of cash producing gold miners speeding past the sights of investors. The big question that this episode of Coffee With Samso is addressing is whether Horizon Minerals Limited is that hidden value that astute investors should be looking at as a potential investment? Coffee with Samso: Building a Gold Company from the Ground Up. Guest: Grant Haywood, Managing Director & CEO – Horizon Minerals Ltd (ASX: HRZ) Location: UWA Club, Crawley, WA Introduction In this episode of Coffee with Samso, we sit down with Grant Haywood, an experienced mining engineer and the driving force behind Horizon Minerals Ltd (ASX: HRZ). With over 30 years of experience in the gold mining sector, Grant walks us through the evolution of Horizon Minerals from a small-scale developer into an emerging mid-tier gold producer in Western Australia’s Eastern Goldfields. Horizon’s Journey: From Merger to Momentum - A Gold mining Story. Horizon was born from the 2019 merger of Intermin Resources and MacPhersons Resources. This strategic consolidation, followed by subsequent acquisitions—most notably Greenstone Resources and Poseidon Nickel’s Black Swan plant—has expanded the company’s resource base to over 1.8 million ounces of gold. Today, Horizon is producing gold from two key cornerstone projects—Booraara and Burbanks—through third-party processing facilities while preparing its own Black Swan plant for refurbishment and restart in 2026. Key Highlights from the Conversation Producing Now, Building for Tomorrow - Horizon is already generating revenue from Booraara (processed at Paddington) and Phillips Find (processed at FMR’s Greenfields plant). This cash flow helps reduce the capital needed for restarting their own plant. Undervalued in the Market? - At a market cap of ~$125M and a resource base of 1.8Moz, Horizon appears undervalued compared to peers—especially as it is already producing and generating cash flow. The Path to 100,000oz per Annum - With aspirations of reaching 100koz/year by late 2026, Horizon plans to use its own refurbished plant at Black Swan (acquired from Poseidon) to process ore from Booraara, Burbanks, and other satellite projects. Drilling to Grow: Burbanks in Focus - A major 30,000m drill campaign is underway at Burbanks, split evenly between infill and extensional targets. Only 25% of the current resource is in the Indicated category, so the objective is to upgrade classification and build reserves for future feed. The Silver Option – Nimbus - The Nimbus silver-zinc project (20Moz Ag, 104kt Zn) is a long-term optionality play. Environmental cleanup has been completed, and reclassification of the site is expected soon. Once permitted, a flotation circuit at Black Swan could enable cost-effective processing if silver prices justify it. Strategic Land Position - Horizon holds over 1,300km² of tenements around Kalgoorlie and Coolgardie. With ~$5M in annual expenditure commitments, the company continues to evaluate M&A opportunities and potential divestments. Near-Term News Flow Infill & extensional drill results from Burbanks September quarter cash flow from current production Black Swan plant refurbishment PFS (due Q4 CY2025) Mining studies to map feed sources for Black Swan Samso Concluding Comments I’ve been following Horizon Minerals for a while now, and sitting down with Grant Haywood really brought the story into focus. What I saw was a company that has quietly transitioned from being just another gold explorer to one that is genuinely producing—and doing so in a way that makes sense in the current gold environment. What stands out to me is the clarity of their strategy. Rather than rushing into big capex spends, Horizon is using third-party infrastructure to generate cash while carefully planning the refurbishment of the Black Swan plant. It’s a smart move. This kind of thinking—measured, practical, and value-driven—is what sets them apart from a lot of other emerging gold plays. They’ve set their sights on becoming a 100,000oz/year producer by late 2026, and from where I sit, that is achievable. The resource base is there. They’re mining. Cash is already flowing. And with drilling continuing at Burbanks and Booraara, the potential to expand and firm up long-term feed is only growing. There’s also a glaring disconnect between the market valuation and what the company has quietly built. I wouldn’t be surprised to see a rerate once the PFS for Black Swan is released and the market catches up to the fact that Horizon is well past the explorer stage. From an investment lens, what I see is a company with production, real optionality (think silver at Nimbus and even future nickel), and a near-term path to self-sustaining operations. The pieces are on the table. The next few quarters are all about execution—and in my view, that’s where Grant’s background in operations will be important. Remember, the devil is always in the details and having an operational thinking flag bearer like Grant will be very important. The chapters below will help you navigate the Coffee with Samso and l hope you will all get some value from Grant. Chapters: Start Introducing Samso News and Episode 207 of Coffee with Samso Grant Haywood and the Horizon Minerals Story. The Burbank Asset Acquisition. Horizon Business Case. The undervaluation of Horizon Minerals. Explaining Booraara as one of the two Key Asset for Horizon Minerals. The Numbers and Upside for the Booraara Project. The Strategy for the Recent Fund Raising. Upside of the Poseidon Acquisition. The Horizon Minerals Mining Strategy. The Silver Story for Horizon Minerals. Are there any issues with Haulage for the Black Swan Strategy? Minimum Expenditure News Flow Key Highlights Investors should look out for? Could Nimbus be a Positive or a Negative for the horizon Story? What should Investors Take away from this discussion? Conclusion The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. We are always asking the question that may sound simple and irrelevant, but these are typically the ones that make sense to you, the one seeking the knowledge. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018.
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Coffee with Samso - A Beginners Guide to Understanding AI - Being Intimate with Artificial Intelligence - Eric Starling | Principal Innovation Advisor, AWS
07/24/2025
Coffee with Samso - A Beginners Guide to Understanding AI - Being Intimate with Artificial Intelligence - Eric Starling | Principal Innovation Advisor, AWS
Coffee with Samso Episode 206 is about how we understand and interact with AI. We all know what Artificial Intelligence is about but do we really know ? Are we just taking it for granted what we actually know and is it sufficient to just take what people say about about what AI will do for or to us in the coming years. After a short break to launch Samso News — our new platform blending ASX announcements with the signature Samso blog style — we’re diving headfirst into the evolving world of artificial intelligence. In this deeply engaging episode of Coffee with Samso, we are focusing today squarely on one of the most transformative forces of our time: Artificial Intelligence (AI). Joining us is Eric Starling, Principal Innovation Advisor at Amazon Web Services (AWS), who brings over two decades of experience in software design, innovation strategy, AI integration, and digital transformation. Eric is not just a technologist — he’s a builder, a thinker, and a translator between code and real-world outcomes. We sat down at the UWA Club on the grounds of the University of Western Australia for an honest, wide-ranging conversation that demystifies what AI is, how it works, and where it's taking us. Key Topics Covered in the Coffee with Samso on Artificial Intelligence. What AI Is — and What It Is Not Eric explains how AI systems like ChatGPT and Claude don’t “think” in the way humans do. Instead, they learn from massive datasets, building probabilistic models to predict likely responses based on prior inputs. The concept of “autocorrect on steroids” is used to illustrate how large language models (LLMs) operate. Language Models and Why English Is the New “Code” in Artificial Intelligence For non-technical users, the rise of LLMs represents a paradigm shift. No longer do you need to speak in code — natural language itself has become the interface. This accessibility is redefining who gets to build, create, and automate. The Role of Data — Why AI Wouldn't Exist Without the Internet Eric underscores the fundamental role that the internet and cloud computing play in powering AI. From the petabytes of storage to globally linked data centres, AI's performance relies on a vast, interconnected ecosystem. AI Doesn’t Reason — It Repeats Patterns A powerful analogy compares image recognition AI to showing a model 10,000 pictures of a cat. The model “learns” by exposure, not by understanding. This highlights the difference between learning and cognition, a distinction too often blurred in public discourse. Agentic AI and Industry Transformation We delve into agentic AI, which moves beyond chat interfaces into tools that can take actions, manage files, automate workflows, and simulate decision-making processes. This development is fueling a wave of innovation across industries — from grant writing to robotic inspection. AI in China vs. the West — A Tale of Two Approaches We explore how AI implementation differs starkly between China and Western nations. In the West, commercial viability and public acceptance are major hurdles. In contrast, China’s top-down model has allowed faster implementation — raising important questions about innovation, ethics, and regulation. Deepfakes, Data Ownership & Ethical AI Eric raises critical concerns about data control and digital identity. What happens when small AI companies are acquired or go bust? Where does your data go — your voice, your image, your interactions? The episode serves as a cautionary tale about uploading personal content without considering long-term implications. AI’s Creative Disruption in Entertainment One of the most thought-provoking segments explores how AI may not replace actors or creatives, but could radically expand who gets to produce high-quality content. Eric envisions a world where indie creators and hobbyists wield studio-level capabilities — disrupting traditional media from the ground up. What the Future Holds — AI in 5, 10, 15 Years Eric offers predictions on how AI will evolve: A world filled with interchangeable micro-agents Lower barriers to business innovation Tools that assist — not replace — human creativity A higher value placed on intention and authenticity in content creation Misunderstandings and Missed Conversations Eric notes that cognition remains the most misunderstood concept of AI. The tools may sound smart, but they don’t “know” anything. He also warns of the underappreciated risk of data misuse when using third-party AI services without considering data ownership. Samso Concluding Comments - The Coffee with Samso Discussion: This episode with Eric Starling is a reminder that Artificial Intelligence is not just a buzzword — it’s a structural shift. One that is already changing how businesses operate, how services are delivered, and how value is created. For ASX investors, the real takeaway here is this: AI is no longer confined to Silicon Valley or tech unicorns. It’s becoming embedded in sectors across the board — from mining and energy to biotech, financial services, and logistics. Companies that can leverage AI meaningfully — not just sprinkle it into their marketing decks — are likely to unlock productivity gains, margin expansion, and operational efficiencies that markets may not yet be fully pricing in. Over the last few months, I have learnt and as Eric clearly articulates, not all AI is created equal. The true edge comes from owning your data, understanding the limitations of generative tools, and building AI agents that solve specific problems with clear intent. This is where discerning investors should pay attention: Is the company investing in capability, or just riding the narrative? We're also entering a period where content creation, compliance, customer service, and internal processes ar.e being quietly transformed — especially in capital-light industries. In our view, the most investable opportunities on the ASX may come not from “AI companies,” but from traditional businesses that are applying AI in transformative ways. This conversation reinforces our belief that investors need to go deeper than headlines. Understanding where a company sits in the AI landscape — builder, adopter, or observer — could offer meaningful insight into future performance and resilience The chapters below will help you navigate the Coffee with Samso and l hope you will all get some value from Eric. Chapters: Start Introduction Who is Eric Starling ? What is AI and What is Not AI ? AI language is now called English AI is all about What is the “Internet”. AI is about Learning and not Thinking. AI needs data to “Think”. Where does AI get its source of data? Where are we at in terms of the AI Revolution? What is the most Misunderstood of AI? The Reasoning learning process of AI still needs existing data. The least obvious profession that AI will replace. Could use of AI decrease the quality of content we accept? The China vs. The West approach to AI implementation of AI. What does Eric worry about AI? What could we see with AI in 5, 10, 15 years time? What are people not considering about AI? The reality and danger of deep fake. The changing face of AI means we have to be educational about AI Last woods on Ai from Eric Conclusion PODCAST The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. We are always asking the question that may sound simple and irrelevant, but these are typically the ones that make sense to you, the one seeking the knowledge. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018.
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Coffee with Samso - Miramar Resources Limited (ASX:M2R) - A Perfectly Valued Gold Story - The Gidji Gold Project and the Path to being a Gold Mining Business.
07/08/2025
Coffee with Samso - Miramar Resources Limited (ASX:M2R) - A Perfectly Valued Gold Story - The Gidji Gold Project and the Path to being a Gold Mining Business.
Coffee with Samso Episode 205 is all Miramar Resources Limited (ASX:M2R) and the potential of the Gidji and Bangemall projects. Miramar as a company, is now for better or worst, perfectly valued at less than AUD 3M market capitalisation. Its primmed now for discovery. The Miramar story has been featured on the Samso platform since February 2021 and I still consider this exploration company one that is best suited for discovery. The most notable companies that I can remember as I write which I felt strongly about a discovery, and was approached to be on a Coffee with Samso, prior to their respective discovery event, and was declined, was WA1 Resources Limited, De Grey Mining Limited, Staveley Minerals Limited. I have been a firm believer that the Miramar projects were great projects and with great management, in terms of the potential for discovery and a history of taking the economical discovery to production. Allan Kelly had the history and having numerous discussion with him, I felt that he had the mentality to do that with existing projects. What unsettled the journey was the lack of market sentiment and with the strong market affinity for lithium and the critical minerals; narrative, the gold journey was unsettled and in many cases, great project looked doomed. A great example is the journey of . Meeka has just poured its first gold bar and its future looks cemented, now with a market capitalisation of AUD $422M. Listed on the ASX with great projects but in the midst of the lithium run which was followed by the great Critical Mineral rush, the company lost an audience and now with gold price taking centre stage, the stage seems set for that journey of discovery something of economical proportions at Gidji. The Business of Miramar Resources Limited - The Path to being a Gold Mining Business. To me, the business of Miramar Resources is now aligned with the market sentiment. The new shareholders may have a different idea for the leadership but I think as a business, Allan Kelly is built for this role. One of the best asset for Miramar is that it is managed well with a strong technical management and keeps the cash burn to a minimal. You don't see many Executive Chair sitting on the drill rig or going out to do reconnaissance sampling and doing prospective type work in the field. Senior management doing the technical work in the field is an extremely rare sight in todays' ASX mineral exploration companies. The value proposition for shareholders has never been more aligned with the potential of a discovery of a gold asset in the backyard of the Kalgoorlie Goldfields. I feel that the strong gold market will easily give Miramar the uplift in valuation if and when a discovery of significance occur. The Coffee with Samso Discussion: In this episode of Coffee with Samso, it is a very clear discussion of the value proposition for the company. Allan gives us a good narrative of the mechanics behind the exploration and what the company faced over the last 4 years as the equity market heavily discounted the market capitalisation of Miramar Resources. Shareholders and potential shareholders will gain insights that will shape their thinking for investing in the company. Whatever you may think about the past, what is very clear is that you have now a company that has a market capitalisation below AUD $3M, in a gold market bull, prospective gold project with all the right factors and a proven management team to bring in a potential discovery. If you take away the emotions of why you should be looking at the company as an investment, you cannot deny the fact that Miramar is very fortunate to be gifted these attributes and with perfect market timing. My advice, sit back, listen to Allan and DYOR. Grab your favourite beverage and invest in the next 45 minutes. Chapters: Introduction Update on Miramar What is SAM Survey ? How deep is the Gidji Paleochannel? The significance of the potential paddington Dolerite. The Value Proposition of Miramar and the Gidji Drilling Program The Gold Price Dilemma and the Miramar Opportunity Is the Gidji Paleochannel driving Why The market is Misunderstanding the story? Is the market now highlighting the uneconomical gold projects? Bangemall Update Is the Bangemall Project A New Concept? Norilsk Phenomenon Similarities between Norilsk and Bangemall First Evidence:Rock Chips Second Evidence: Geophysics - EM Survey. - Drilling. New Thinking at bangemall The Cheap Entry Point For Miramar Resources. A Discussion on Exploration. Newsflow An Opportunity for Discovery at Gidji. Allan Last Words Conclusion PODCAST The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. We are always asking the question that may sound simple and irrelevant, but these are typically the ones that make sense to you, the one seeking the knowledge. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio . If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on . is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.
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Coffee with Samso - Wide Open Agriculture Limited (ASX:WOA) - A Superfood Story—Lupin and Lupin Protein Isolate.
04/02/2025
Coffee with Samso - Wide Open Agriculture Limited (ASX:WOA) - A Superfood Story—Lupin and Lupin Protein Isolate.
Coffee with Samso Episode 204 is all about Lupins and Lupin Protein Isolate. Coupled with the favourable growing climate in Western Australia, could become a major player in a billion-dollar market. The Wide Open Agriculture came across my screen about two weeks ago, and it caught my attention because I was doing content on superfoods and came across the benefits of lupins in 2019. While I was doing research over time, the share price of the company started to move, and in fact, on the day I was talking to Yazi Zhan, the Non Executive Chair of WOA, about making an appearance on Coffee with Samso, she was in the middle of dealing with her company's share price going for a run to a high of AUD $0.029, from the previous trade of AUD $0.016. In today's episode of Coffee with Samso, we are talking to Yazi Zhan, who knows this business intimately and will give us a good insight into firstly the benefits of Lupin and Lupin Protein Isolate, followed by what I think could make WOA a global player in the highly sought-after plant-based nutrition business. The Business of Wide Open Agriculture Limited. Wide Open Agriculture Limited (ASX: WOA) is planning to be in the global plant-based protein sector, thanks to its proprietary technology that unlocks the full potential of lupins—a high-protein, regenerative legume native to Australia. As the exclusive holder of intellectual property for extracting lupin protein isolate, the company is positioning itself at the forefront of the clean-label, sustainable food movement. At the heart of this innovation is BUTINE PROTEIN, Wide Open Agriculture’s signature lupin protein isolate. Clean, allergen-friendly, and remarkably versatile, BUTINE PROTEIN offers a powerful alternative to soy and pea proteins, catering to the fast-growing demand for ethical and environmentally responsible nutrition. With this cutting-edge IP and a focus on regenerative farming, Wide Open Agriculture is not just producing protein—it’s pioneering a smarter, greener way to feed the world. Chapters: 00:00 Start 00:09 Introduction 03:30 Who is Yaxi Zhan? 05:18 History of WOA? 08:28 Discussion about Lupin 15:06 Lupin Isolate 17:20 Importance of the China Market Approval 20:47 How does WOA protect its Core Business? 25:36 Limitations of Growing Lupin Gives Australia a Natural Advantage. 26:42 Types of Lupin 28:30 Competitors? 30:52 Market size for Lupin 36:50 What are the business triggers for WOA? 38:50 Funding strategy 40:05 Takeaway 40:43 News flow 41:37 Conclusion About Yaxi Zhan Yaxi is Mongolian Chinese and has called Perth home since 2004. In under 12 years, she transformed her career from a finance professional into a mining executive. With a strong background in business development, mergers and acquisitions, and cross-border transactions, Yaxi founded Accelerate Resources—an ASX-listed resource company—and served as its Managing Director from 2017 to 2024. Most recently, she has taken on an exciting new challenge as Chairman of Wide Open Agriculture, where she is leading the company’s growth strategy. About Wide Open Agriculture Limited At Wide Open Agriculture, our mission is to create a range of great-tasting and high-performing plant protein ingredients. We are focused on developing high-performance lupin proteins that improve outcomes for: Customers Food Manufacturers Farmers We see a global movement for greater inclusion of plant proteins in daily diets. We also see compromises in existing offerings and believe that there are better alternatives. By developing better end markets, we see plant proteins as a positive force for change in the agriculture industry, where lupins can play a key part in reducing emissions and improving agricultural systems.
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Coffee with Samso - Cyclone Metals Limited (ASX:CLE) - A Green Iron Ore Business - Magnetite is the New Sheriff in Town.
03/23/2025
Coffee with Samso - Cyclone Metals Limited (ASX:CLE) - A Green Iron Ore Business - Magnetite is the New Sheriff in Town.
Coffee with Samso Episode 203 may well be one of the best ASX small-cap resource business in 2025, that is largely unknown to the general investing community. The is about the pedigree of the Iron Bear magnetite project. In Australia, the general ASX punter thinks of iron ore as haematite are greater than 62% Fe, but there is a new sheriff in town and he is called Magnetite. Where can you find a mineral resource business that is owned by a small cap junior with a market capitalisation of less than AUD $50M that has funding all the way through to mining and processing the high-grade iron pellets. Just remember that Cyclone Metals was a AUD $10M market cap company when it started the journey. The transitioning from haematite to magnetite in the iron ore industry is happening and it is largely driven by the depleting of high-grade haematite iron ore. - Paul Berend In this episode of Coffee with Samso we are talking to Paul Berend, Executive Director and CEO of . Cyclone is a fascinating story of a junior aspiring to be a producer with a major, VALE, partnering with funding. A space in which most juniors would be struggling to find funding, CLE has a big brother taking care of all the bills. The Business of Cyclone Metals Limited. The steel producing industry is transitioning to low emission and the process of Direct Reduction (DR) steel production is the solution to a global reduction in emission for the typically high carbon emission business. . Direct Reduction steel production requires iron pellets that are very low in impurities and this is directly controlled by the quality of the source material. As Paul Berend explains, ....not all magnetite deposits are suitable for Direct Reduction Pellets which is why the Iron Bear deposit is perfectly aligned to allow this process to be achieved. Recent work by Cyclone Metals Limited has shown that the use of Direct Reduction on iron ore from Iron Bear can create iron pellets above 71% Fe content. According to Paul Berend, this is a very unique feature of the ore body. A feature that is not seen in many other iron ore resources and that includes those at Champion Iron. One statement that Paul proudly points out in the Coffee with Samso, and that is, The quality and the size of the Iron Bear Deposit moved the needled for VALE to take a position with Cyclone Metals. This is a great conversation with Paul Berend as he explains the story of Cyclone Metals clearly and in great details. Chapters: 00:00 Start. 00:08 Introduction. 04:10 Who is Paul Berend? 05:24 The Magnetite Story - Why Have We Not Embraced it Yet? 08:44 Transition of Value from Haematite to Magnetite. 09:41 Carbon Footprint of Magnetite. 10:07 Rise of Magnetite Projects? 10:33 Depletion of Brazilian High-Grade Iron Ores -The Reason why VALE is in CLE. 10:51 Importance of Direct Reduction (DR) Steel Production. 11:57 Only Way to Make Direct Reduction Steel - Premium of DR Pellets. 13:05 DR Pellet Market Comparison. 13:48 How Do You Make Direct Reduction Pellets. 15:14 Reason Why DR Pellet Production is Rare. 15:47 Comparison of Low Impurity Iron Deposits. 16:30 DR Player requires an ABILLITY To Reduce Impurities. 18:01 How much of the Current Resource will transition to Reserve Status. 19:08 Iron bear is a Low Stripping Ration deposit. 19:30 Metallurgy Will Increase the Economics of Iron Bear. 21:30 What is the main Business of Cyclone Metals ? Is it DR Production? 22:26 Is Iron Bear DR Capabilities why Vale is interested? 23:18 Iron Bear can supply high-grade iron ore all the way to DR levels. 25:07 How Did the Agreement with Vale Evolve ? 26:55 How important was the 10M ? 28:30 Earning a Mandate to Operate Socially. 29:25 Importance of the First Nations Conversations. 32:12 How Important is the relationship with First Nation Groups. 33:42 The Reasons why Vale could be the Reason for Success for Iron Bear. 36:24 Potentially One Technical Challenge for Iron Bear - Dry Tailings. 37:34 The Importance of Earning a Mandate To Operate 39:07 Twitter Shareholder Questions 39:27 Will the Trump Tariffs affect the Iron bear Business? 40:48 The Vison of Iron Bear - It is a Bigger project than Champion Iron. 41:58 Reducing the Carbon Footprint of a Manufacturing Hub in Northern America. 43:25 How much is the resource expected to be built up to? 43:58 Iron Bear is a Premium Magnetite project. 45:15 What cost will the hydroelectric power cost us per kilowatt? 46:51 Green Energy Narration - Magnetite Naturally Reduces Carbon Emission. 49:48 Discussion on iron ore prices. 54:23 Why is CLE still at 50M? 55:21 Why is the a feeling of disbelief in the Cyclone story? 58:02 The misunderstanding of the Iron Ore industry. 01:00:54 Takeaway. 01:01:18 Conclusion. About Paul Berend Paul Berend brings over 25 years of leadership experience in the iron ore and steel industries, gained across blue-chip corporations and junior mining ventures. His corporate background includes senior roles such as GM Corporate Strategy at ArcelorMittal, GM Business Development at Rio Tinto Iron Ore and Director Australasia at Hatch. Paul is a passionate mining entrepreneur and was a founder and historic CEO of Trans-Tasman Resources Ltd (a titano-magnetite project in New Zealand ASX: MKR) and has played a key role in a number of private early-stage exploration ventures. In addition to his entrepreneurial work, Paul has a successful track record in turning around distressed producing mines and steel mills in difficult jurisdiction including Australia, PNG, Europe, GCC and Africa . He is a trusted advisor for Tier one natural resource companies, supporting operational, organisational and growth strategies. In this capacity, Paul’s previous employers include McKinsey& Company and Partners in Performance. Paul has an MBA from HEC (Paris, France), a MSc and DEA (~PhD) in chemical process design and chemistry from ENSIC (Nancy, France), a bachelor’s in applied mathematics and algebra from Harvard University (Cambridge, USA) and is a Graduate of the Australian Institute of Company Directors. He speaks native and English and French as well as professional German. About Cyclone Metals Limited Cyclone Metals owns and operates the Iron Bear magnetite iron ore project, formerly known as the Block 103 Project. The Iron Bear Project consists of ten licenses totalling 7,275 ha on 291 graticular Mineral Claims under the applicable Labrador and Newfoundland mining regulation, located near the Provincial border of Newfoundland and Labrador (NL) and Quebec (QC), approximately 30 km northwest of the town of Schefferville, QC and 1,200 km by air northeast of Montréal, QC. The Iron Bear properties are located within 25 km of an open access heavy haul railway which is directly connected to the Sept Isles and Pointe Noire iron ore export ports. In addition, the Iron Bear has potential access to cheap renewable energy from the Menihek hydro-plant located 75km away. These two factors substantially improve the prospects for eventual economic extraction of the Iron Bear mineral resource. Notably, large scale iron ore export operations currently operate in the Labrador Trough; including IOC (Rio Tinto), Champion Iron and Tata Steel; all sharing the same rail and port infrastructure. Highlights: World Class Iron Ore Project: Mineral resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe. Low OPEX: Estimated OPEX of USD 35.6/t3 FOB Pointe Noire for blast furnace concentrate due to access to low-cost hydropower Strategic Tier 1 Asset: Iron ore asset with flexible development scenarios and the potential to ramp up production to over 100 Mta Mining Friendly Jurisdiction and Proximity to Infrastructure: Iron Bear located in Canada, less than 25km from an open access heavy haul railway with proximity to low cost to hydro-power High Quality Product: Production of high quality magnetite concentrate grading 71,3% Fe and 1.1% SiO2 in industrial pilot plant Fast Track Project Development: Underpinned by the supply of bulk samples of DR and BF concentrates to mill clients by Q2 2024
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Coffee With Samso - LCL Resources Ltd (ASX:LCL) - Undervalued ASX Explorer with a Golden Time in Papua New Guinea
03/11/2025
Coffee With Samso - LCL Resources Ltd (ASX:LCL) - Undervalued ASX Explorer with a Golden Time in Papua New Guinea
Coffee with Samso Episode 202 brings retail investors into an ASX company that may have the potential to become a multi-bagger investment. The story is one that will resonate with many retail small cap investors. A low market capitalisation of AUD $10M and an inferred gold resource of 831,000 ounces in a booming gold market where drilling results are being rewarded. LCL is not a stranger to the Samso platform, with "" published on 29th October 2021 and a Samso Insight written and published on 15th February 2022 entitled "." The story changed to a Papua New Guinea focus recently, and on 25th November 2022, LCl released "" which was the entry into Papua New Guinea. Management Change Management and Board changes () within the company will bring much needed youth and energy into the LCL Resources, which, in my opinion, is why I am having a conversation on Coffee with Samso with Christopher Van Wijk, the Executive Chair of the company. LCL was in a transaction to sell the Columbian assets but as I have realised, that resolution was voted down by shareholders. Whether this decision in hindsight turns out to be the correct decision will be known soon. Could it be sold to a higher bidder as the gold sentiment rise will be something to ponder about at that time. What is more interesting for me is the current direction for the company with new management. The Project The Kusi project is a good start for the company with the inferred resource of 831,000 ounces of gold. The future of the project sounds like there are a lot of positives. Papua New Guinea is a haven for projects that are company makers. There are multi-million ounces of gold in the region that will be nectar to honey for LCL Resources. Coffee with Samso This is one of those conversations where I learnt a lot about my guest and the company story. Christopher Van Wijk gave me the impression that he has come into LCl with a mission to take this AUD $10M market cap to greater heights. His energy and the, as a matter of fact, tone of discussion give me confidence they have the right jockey. The next question is what the horse is like, and the rest of the team is able to do with the current project. As a matter of funding, I think that the fact that there are high-net-worth individuals backing this vehicle is a very good addition to the story. Chapters: 00:00 Start 00:08 Introduction 03:26 Who is Chris van Wijk? 04:18 Updates on the Columbian Project 06:18 The KUSI Project 07:39 Any jurisdiction issues? 09:25 Confidence in gold project 11:50 What can investors look forward to? 13:40 Discussion on funding 17:05 Takeaway 17:35 What can investors look forward to in terms of exploration activities? 20:11 Conclusion About Christopher Van Wijk Chris is a seasoned geologist with expertise in project evaluation and generation. He possesses extensive experience in base metal and gold exploration across Africa, Europe, the Americas, and Australia. Chris has also managed joint ventures and evaluated projects for leading mining companies such as BHP, IAMGOLD, First Quantum Minerals, and Fortescue Metals Group. He holds a Master of Science in Ore Deposit Geology from the University of Western Australia and is a member of the AUSIMM. About LCL Resources Limited LCL, incorporated in Australia, is an ASX listed exploration and mining company. The Company holds ~3890Km2 of exploration titles in 5 regions of Papua New Guinea, prospective for copper, gold and nickel. The Company also holds a dominant position within the Quinchia region of the Mid-Cauca Gold Belt of Colombia. The Company is actively exploring in PNG while the 100% owned, 10,500 ha Quinchia Gold Project (2.6Moz @ 1g/t) in Colombia progresses through early stage feasibility related studies..
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Coffee with Samso - E79 gold Mines Limited (ASX:E79) - Mineral Explorer Perfectly Primed for Value Creation.
02/28/2025
Coffee with Samso - E79 gold Mines Limited (ASX:E79) - Mineral Explorer Perfectly Primed for Value Creation.
Coffee with Samso Episode 201 is all about looking at a mineral explorer to ride the current market excitement for mineral resource discoveries. There is a visible and coherent bullish shift with investors within the mineral exploration sector of the Australian Stock Exchange (ASX). The story is being reviewed as it is primed for potential discovery, and now cashed up. I have known about E79 and was reminded when they were the beneficiary of a nearology play with Kalgoorlie Gold Mining Limited announcing results from their Lighthorse project. E79 was the beneficiary as they share tenement boundaries (Figure 1). One of the most important aspects of trying to understand this industry is to know that as retail investors, we are never going to know the real ins and outs of the company. On most occasions, we are the last and the "insiders," or what I term the "Purple Circle", are always looking at the retail market as the driver of rising pricing and the bag to hold when they leave. Hence, to negate some of the heartache, I prescribe the need to know the two critical points: one is management and the viability of the projects being promoted, and the other is the potential economic discovery within the project. Let me try and break this down without writing a book about it. Management I cannot stress enough the need to know the style and content of management in place. For the majority of retail investors, who are not from the industry, it is hard to know who is who. What many people rely on is being told who they are, and not knowing the main players with some degree of intimacy. The problem with second-hand knowledge is that you don't know how far that knowledge came from by the time it got to your ears. I have compiled a small list of things to ask or to DYOR for readers to chew on: Ability to raise money: Are they connected and have the records to show this? This is a very important ability. Are they the type of management that wants to make an economic discovery? I stress the term economic, which indicates a real effort in terms of spending money and having the right team. Are management looking for an economic discovery, or are they looking for a discovery to create share price stimulation? This is not a bad thing, but knowing this will help you from rushing in and taking a wait-and-see approach. The person who is known for the "Midas Touch," now this is a no brainer and in some ways, this kind of management is the easiest. Put your money in and then go do your day job. The only drawback is that these guys can take a long time, and I mean multiple years as they normally work on their schedule and not yours :-) Similarly, they may have a stronger holding power than you and hence, if you are forced to hold longer than you can, you may miss out. I am sure there are many other characteristics to be aware of, but those are normally the ones I look for before jumping into any stocks. The Project It is sufficient to say that the promoters of these companies have the same motivation as all investors, and that is making money. Retail investors like me are all about making sure we are not taken in by the promotion, that we forget there is a need to sell, and making sure we have the holding power to stay in the game. In my opinion, when we look at the projects being promoted, we need to simply think of two parts. If the main story is about making an economic discovery, is the project, technically, able to give it a good go, or do I think that the chances are low and the risk great? This normally requires a higher level of research and at most times, it's difficult to have an absolute answer. Fortunately for me, with 3 decades of experience, it's a lot easier to break all those points down. For those not in the industry, I have to admit, it's not easy. If the project appears to be lacking in substance, then you would have to assume that management is looking for something else and this is a holding pattern. It's kind of what we call, "Let's Join The Club First.". Coffee with Samso Today, it's all about E79 Gold Mines Limited and Ned Summerhayes. As I have mentioned, I know the management relatively well, and I do believe that they are looking for an economic discovery, and I am pretty sure they are also looking for a better project to come along. They will take their time while they slowly work on their projects. Chapters: 00:00 Start 03:29 Who is Ned Summerhayes? 04:20 What it's like working with the board members? 05:50 The Neurology Factor factor? 08:19 Has the market changed to being a Bull? 10:46 E79 projects set up by Ramelius consolidation. 12:37 What is the strategy for E79 at the Lighthorse region? 17:27 The Mountain Home Project 26:02 How should corporate manage shareholder expectations? 29:01 Is the market still tight for funding? 34:10 Last comments 34:47 Conclusion About Ned Summerhayes Edward (Ned) Summerhayes has completed a Master's of Economic Geology from the University of Tasmania. Ned has more than 15 years’ experience in Mineral Exploration, primarily in Western Australia. Ned’s most recent role was with Black Cat Syndicate as Exploration Manager, having both corporate responsibilities and directing technical programmes. Ned was responsible for all site personnel, stakeholder management, reporting and compliance, as well as reviewing and recommending strategic acquisitions. About E79 Gold Mines Limited E79 Gold Mines Limited is an Australian gold and copper exploration company which has approximately 1,838km2 of highly prospective ground in two proven gold producing greenstone belts in the Western Australian Goldfields and a project within the McArthur Basin of the Northern Territory. Mission To discover gold and develop sustainable operations whilst acting responsibly towards the environment and all stakeholders Statement of Values E79’s vision is to create significant value for Shareholders through good science and applied exploration with a strong culture of operating ethically and responsibly. To respect the cultures, customs, and values of all Stakeholders, including employees, contractors, suppliers, Traditional Owners, pastoralists, and the community. At all times conduct ourselves with integrity, honesty, and transparency. Encourage an enjoyable and safe workplace based on technical excellence, teamwork, collaboration, and diversity. Seek to protect the environment and enrich the communities in which we work.
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Coffee with Samso - A Gold Mining Story: Clasping Victory from the Jaws of Defeat.
02/16/2025
Coffee with Samso - A Gold Mining Story: Clasping Victory from the Jaws of Defeat.
Coffee with Samso Episode 200 is a David and Goliath story that could be a second chance for those investors who felt they missed out on past opportunities. The Greatland Gold Plc (AIM: GGP) is the classic case of the need to understand the content of management and the technical aspects of a mineral resource project. Like all investment partitioners, their main challenge is hearing fellow participants overlook the essential elements of comprehending and applying the principles of First Principal's business. I have been in the industry since 1992, and over the past three decades, I've learnt that understanding the sector requires insights from a geologist's perspective, an investor's viewpoint, and those who influence the markets, such as stakeholders (brokers, major investors, and vendors of the company and projects). It's crucial to gather wisdom from experienced individuals and recognise that no two operations, projects, mineral orebodies, or extraction methods are identical. This is evident in the many success stories that have emerged from so-called "unloved" and "impossible" projects that seemed doomed from the start. The list of companies that have been created from these unloved "investment concepts" or the "too Small for Majors" are clearly exemplified recently by the following list below; , , , , There are numerous others to include on that list, and the surprising fact is that ASX retail investors are slow to invest in these stocks. The issue for these investors is that by the time these stocks gain attention, the capital appreciation for their type of portfolio has decreased, leaving opportunities to institutions and more "sophisticated" investors seeking consistent income generation. Why do I still see Greatland Gold Plc as a viable Proposition for the Retail Investor? Firstly, they are largely unknown to the sector. Currently, they have an AUD $2B market capitalisation hidden on the London Stock Exchange . If you click on that link, you will see the unimpressive on the London Stock Exchange. What is an AUD billion dollar company hidden in this nature? The answer to that question is one of the first points I make in the with Shaun Day, the Managing Director of Greatland Gold. The company is an overnight success that has taken a decade of hard work and sweaty rattling of the tin to keep the doors from shutting. This episode of Coffee with Samso is a perfect companion to our first story on Greatland Gold we published on July 2, 2022, entitled "T". That was now almost 3 years ago, and today, they are a fully fledged miner with the words "Undervalued- Underrated" written all over the story. For those who felt that they have not caught a good investment in a raging bull gold market that seems to have no short-term end, especially in Australian dollars. This will have to be a must-see Coffee with Samso before you begin your process of DYOR. I cannot emphasise the need to spend good quality time to DYOR for Greatland Gold, which is still not listed on the ASX. That will come in June, so better get your knee pads from Bunnings and start resorting to begging, as I am 100 percent sure there will be limited shares available to the common man when their IPO comes around. Chapters: 01:28 Start 02:34 Who is Shaun Day? 03:45 How did Greatland buy back the assets? 05:39 Composition of the acquisition price paid by Greatland Gold. 07:34 Significance of Havieron being next to Telfer 09:04 Where is the uplift of Telfer and Havieron for Greatland Gold. 10:31 Reason for the cost of Telfer 13:14 An explanation to the concept of Vertical Ounce? 15:20 Breaking down the potential value of the Telfer Operations. 20:05 The size of the processing capabilities of the Telfer/Havieron Operations. 25:33 Thoughts on the future of mining costs 28:33 Hemi vs Havieron 31:17 What is the status of the ASX Listing ? 39:11 Tungsten deposit 46:57 Takeaway from the Greatland story 50:27 Closing remarks 52:15 Conclusion About Shaun Day Shaun is Managing Director of Greatland Gold plc. Shaun has over 25 years of experience in executive and commercial roles across mining, infrastructure and investment banking. Prior to joining the Company, Shaun was Chief Financial Officer of Northern Star Resources Limited, an ASX100 company and a global-scale Australian gold producer. Prior to this, Shaun was Chief Financial Officer of SGX-listed Sakari Resources Plc, which operated multiple mines ahead of its takeover. Shaun is a Non-executive Chairman of Blue Ocean Monitoring Limited and a member of the Senate of the University of Western Australia. About Greatland Gold Greatland’s operating asset is its 100%-owned Telfer gold-copper mine, one of Australia’s largest gold-copper mining complexes with significant established processing and infrastructure. Greatland’s development asset is its 100% owned Havieron development project, a high-grade gold-copper deposit located 45km west of Telfer that will utilise the Telfer infrastructure to process Havieron ore. In addition to Telfer and Havieron, Greatland holds interests in a significant exploration portfolio, the focus of which is the relatively underexplored surrounding Paterson Province. Ownership of the Telfer infrastructure greatly enhances the potential value of exploration success in Greatland’s Paterson exploration portfolio. Strategy of Greatland Gold Greatland aspires to become a profitable multi-mine resources company by focusing on the responsible and sustainable discovery, development, extraction, processing and sale of precious and base metals. Greatland’s strategy to achieve this growth is built on four horizons: Profitable operation of the Telfer gold-copper mine and pursuit of Telfer mine life extension; Continued advancement of the world-class Havieron gold-copper project through to production; Exploration to identify new precious and base metals deposits, with a focus on the Paterson Province surrounding Telfer; and Disciplined assessment and, where compelling, pursuit of new investment and acquisition opportunities in the resources sector. Greatland has assembled a highly experienced team that is committed to delivering our growth strategy. The senior team is supported by a Board with extensive expertise and experience in the global resources sector. Greatland’s leadership team has a track record of success and value creation for shareholders.
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Coffee with Samso - Insights: Critical Metals - The Real Meaning and Path Australia should play in the Clean Energy Revolution.
10/06/2024
Coffee with Samso - Insights: Critical Metals - The Real Meaning and Path Australia should play in the Clean Energy Revolution.
Coffee with Samso Episode 199 is all about the meaning of Critical Minerals for Australia. Are we spending the right amount of money? The low-emission world loves these two words and in resource-rich Australia where we are world leaders in supplying the feedstock for the world, are we sheep or should we start to be smarter with our fund allocation? Should we play our own game and be one controlling the weather and be smart with our resources? Should we be asking, are all metals critical and who are the beneficiaries of the critical nature of these metals? Should Australia be a more important part of the future Clean Energy Revolution? In today's episode, we talk to a man who gives us thoughts to ponder and maybe actions to take. Are all metals critical and what does critical mean? Should we look at the real meaning and outcome of the term Critical Metals? Tim Craske is here because I read his abstract for the recent AUSIMM Conference on Critical Minerals. Australia’s list of critical minerals all occur in abundance. As a nation of suppliers of raw materials, are these metals critical at all for Australians? Or are they just critical for the commodity markets that we deliver into? As we have seen recently with external pressures on commodity prices, lithium and nickel can be critical EV battery components yet be subject to more cyclical price volatility than major metals. This makes Australian scoping and feasibility studies fragile, and investors nervous. According to Tim, by taking a complex-systems thinking approach to modelling these new resources, we can have better outcomes. However, a systems-thinking approach will only be truly transformational if we develop downstream processing and manufacturing industries here in Australia. This is described by CSIRO as a “once-in-a-lifetime opportunity” to reinvigorate our manufacturing and technology sectors. Get yourself a coffee or your favourite beverage and watch or listen and see if Tim Craske makes any sense: Chapters: 00:00 Start. 04:00 Introduction. 04:46 All about Tim Craske. 07:11 Did Western Mining influence your thinking today ? 09:38 What does Critical Metals mean to Tim Craske? 10:39 Australia List of Critical Metals is too long. 11:54 The problem with the Critical Metals List - Everything is not Critical. 12:27 The One and Only Critical Metal - Copper. 13:09 Is Coal a Critical Metal? 13:42 The UK Coking Coal Public Impression. 15:07 The Disconnect of the Carbon Footprint Discussion. 16:07 Changing Lithium Story. 16:42 Why Australia should recreate the Iluka Anomaly 17:10 Understanding the Long Term Marginal Lithium Market 18:55 Should Australia adopt an Indonesian model of investing a Downstream Process. 20:59 What is Australia willing to do to compete? 21:27 Do you think the recent discussion of banning "Dirty" nickel could happen? 22:40 An Example Why Banning "Dirty" Nickel will not work. 24:30 What should Australia be focusing on? 26:11 Understanding the China - Chinese Competitive Business Strategy. 27:24 Why does ASEAN embrace China and the West have an Anti-Chinese Perception? 29:48 Is there a colonisation concept being played out in the Critical Metals Story? 31:08 Where should Australia focus on with Critical Metals? 33:37 Mining of Copper is not that Green. 34:27 Nett Zero Emission. 35:30 Is Zero Emission a Fantasy. 36:48 The Indonesian Nickel Business 38:00 What would Nuclear Power do for the Australian Mining Industry. 38:35 Should Australia chase Tier 1 projects for sustainability of the industry? 40:53 The Power of Tier 1 deposits. 41:57 The Need for Governments to be more Understanding on Process of Mining. 42:35 Can Small Explorers explore for Tier 1 Deposits? 44:02 The lack of New Mines. 45:34 Raising money from the market to Test Geological Concepts is hard. 47:06 Can Australia develop a Downstream Resource Industry. 51:05 Difficulties of the REE Industry. 51:53 What could Spark a Mineral Exploration Bull run. 54:26 China needs the Critical Metals more than anyone else. 55:09 Understanding The Chinese Thinking. 55:40 The Government Loan is a Red Hearing. 56:30 The Dangers for the Mining Industry in regards to the way we treat Critical Metals. 57:12 Tim Last Words. 59:22 What Weather will do to Solar and Wind Farms. 59:54 The Nuclear Solution. 1:00:33 Conclusion. About Tim Craske Tim Craske is a skilled and successful mineral explorer and mentor with over 40 years’ experience in project generation, exploration management and technical innovation gained in Australia, North and South America, Asia and East Africa. He spent his first 20 years with WMC Resources during which he discovered the Ernest Henry and E1 iron oxide copper-gold (IOCG) deposits in the Cloncurry district, northwest Queensland. He was also involved in the targeting of the West Musgraves province for copper and nickel pegging the core licences on which all the deposits (Nebo, Babel and Succoth) have been found. Since leaving WMC Tim has worked in both the junior and major company sectors including Exploration Manager for Sirius Resources up to the establishing of Nova as a prime prospect General Manager Exploration Consulting at Vale and Exploration Manager - New Commodities at Iluka Resources. Tim Craske is Managing Director and Chief Facilitator for and also a director of that specialises in developing innovative thinkers, thinking organisations, and disruptive technology solutions for industry, education and government sectors.
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Allan Kelly - An Insight into a Mineral Explorationist : A Practical Eternal Optimist
08/19/2024
Allan Kelly - An Insight into a Mineral Explorationist : A Practical Eternal Optimist
Coffee with Samso, Episode 198, brings a new perspective to the Coffee with Samso conversations. In this first episode we bring a delve into the thoughts of Allan Kelly, Executive Chair of Miramar Resources Limited (ASX: M2R). The life of an executive in the small mineral exploration is busy and stressful. Those that are out there trying to make an economic discovery are constantly under the spotlight. . In my five years of establishing the Coffee with Samso series, Allan Kelly strikes to me a a true mineral explorationist. To those that have followed the Samso journey and have watched Allan share his projects in Miramar Resources Limited, you will know that he speaks with great sincerity. Our conversations on the Samso platform () are always long form and it has always offered a great insight to the reasons why Alan is so passionate in the potential discovery. When you watch and listen to Allan talking about the projects, there is no doubt that he is enthusiastic nature is wanting the viewers to know what he is doing and why he is spending money into the project. The Insights to Allan Kelly In this first episode of Coffee with Samso - Insights, we learn about Allan Kelly, the person. In an industry that takes no prisoners, it is hard for investors to know who is actually really trying to make a discovery. It is difficult to know if the person who is telling you the story is actually telling the truth or the real facts. I have been an investor in this industry since my university days in 1987 and have been a willing participant in the mineral industry since 1992. Like everyone who is working in the mineral exploration industry, we are all trying to make that economic discovery. The rate of success is not very high and as Allan mentioned in the first minute of the introduction to this episode, that rate of success is very low. So what makes us continue to work in mineral exploration? Why are the likes of myself and Allan Kelly continuing to be in the lime light and the brunt of all criticism? The questions that are being asked is why the Coffee with Samso Insights is beginning its journey. Get yourself a coffee or your favourite beverage and watch or listen and get a better understanding of Allan Kelly: Chapters: 00:00: Introduction 05:13 How did Allan Kelly get into this industry? 09:04 Western Mining Interview 11:40 Work with Western Mining 13:18 Is the Development of Geological Skills still a common trait? 13:44 Western Mining was Unique for the time. 15:27 What traits do you need to stay in the mineral exploration industry? 17:05 The Keys to be a Mineral Explorationist. 17:35 Don't be afraid to say you don't know something. 18:22 What is the Core Asset required to do well in the industry? 19:03 Need to have Endurance, the "Non-Technical Asset" - "Non-Geological Assets" 21:18 The Andy Well Story 23:29 The many reasons why a project may not be discovered.? 24:30 How do you decide and manage which projects to leave behind. 29:56 The lack of Mineral Exploration and Mineral Discovery. 32:24 Does Criticism Ever Affect you Negatively? 34:26 The Gidgee Project and The Paleochannel Problem. 35:11 Is it Frustrating to be misunderstood about the Gidgee Project? 37:30 How do Investors understand Exploration Results? 41:23 How to understand lack of Mineralisation strike length 42:31 What is Allan's thoughts on the Mineral Exploration sector? 43:49 Lack of Patience from Brokers 45:03 Reasons why Allan is optimistic with Nickel and the Bangemall project. 50:57 Allan's last Words. 51:26 Conclusions Previous Conversations with Allan Kelly
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AuMega Metals Limited (ASX: AAM) - Large Scale Gold Exploration in Newfoundland, Canada.
06/14/2024
AuMega Metals Limited (ASX: AAM) - Large Scale Gold Exploration in Newfoundland, Canada.
Coffee with Samso Episode 197 is with Sam Pazuki, the Managing Director and CEO of AuMega Metals Limited (ASX: AAM) The AuMega Metals Limited (previously known as Matador Mining Limited) story has come a long way since our first conversation in April 2020. The developing story is now moving into the next phase as the 2024 field season is beginning. In this episode of Coffee with Samso Episode 197, Sam share with us the philosophy of the company and the strategy for AuMega Metals and the reasoning behind the rebranding exercise. AuMega is well supported with an international miner, . as a major shareholder and that clearly show the confidence the shareholders have in the AuMega Metals Limited story. Samso's Conclusion For those readers who have been followers of the Coffee with Samso series, it is common knowledge that I am a big fan of the AuMega story (formerly Matador Mining Limited). I have always said that the biggest value adding process for shareholders is to look for your own discovery. Promoters in this space preach that the refurbishing of projects is more cost effective but in practice this is more of a myth that a reality. The strategy by the management of AuMega is disciplined and with the stewardship of Justin Osborne (ex- Gold Road Resources) leading the technical search and the corporate influenced Sam Pazuki, I am in no doubt that the mineral exploration will prove their strategy to be fruitful. The rebranding is clearly a means of aligning the company name with its purpose for finding large economical deposits. The projects that is in the portfolio is the reason why "Mega" projects will be discovered. This is what I call a mineral province play to ensure the largest probability to discover economical deposit. As the new drilling season starts to take shape, the next phase of the results will be highly anticipated from the company's shareholders. With B2 Gold as a shareholder, one has to recognised that B2Gold is not here for a slim chance of discovery. The positioning is well thought and the target company is selected for its vast portfolio. Tune in and start putting your thinking cap on and do some good old fashion DYOR. Chapters: 00:00 Start 00:20 Introduction 01:06 All About AuMega Metals Limited 02:48 Is Cape Ray still the Main Story? 04:26 Is there more love for companies like AuMega now? 07:01 Fair valuation due to a bearish equity market. 09:37 The need for District Scale Potential. 10:57 What have been the learnings from your exploration activities? 13:37 Long term exploration programs create the value for shareholders. 15:58 Short-Term and Long-Term Prize 18:14 Taking Risks and Exploration Success 20:40 What is the direction for Gold ? 23:09 Why is there a disconnect between gold equities and the gold price? 25:20 What are the Exit timing for potential investors? 27:48 News Flow for AuMega Metals 29:48 Why invest in AuMega ? 30:55 Big Brother Influence for Large Deposit Discoveries. 32:36 Conclusions
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Terrain Minerals Limited (ASX: TMX) - A Mineral Explorer with Gallium in Its Sights
05/28/2024
Terrain Minerals Limited (ASX: TMX) - A Mineral Explorer with Gallium in Its Sights
Samso Insight Episode 118 is with Justin Virgin, Executive Director of Commodity pricing has a history for being volatile and it is especially susceptible to sovereign risks. The ups and downs of the mineral resources sector on the ASX is a direct reflection of the volatile commodity chart. Pricing of commodities are constantly evolving and retreating which makes the fortunes of ASX companies in this sector exciting and depressing, depending on which the investor's circumstances. In this episode of Samso Insights, we look at Terrain Minerals Limited (ASX: TMX). We speak with Justin Virgin who is the Executive Director of the company. I came across Terrain Minerals at the 2024 RIU Conference in Sydney. What looked like a non-descript booth became an interesting proposition when we Justin explained to me the different views on their projects. Terrain Minerals main story is the potential for a Gallium player who has been flying under the radar. The Gallium sector is small but lucrative. Figure 1 below highlight the bullish nature of the pricing and it is forecast to continue on that trend in years to come. Figure 1: Gallium price chart. (Source: ) From an exploration point of view, the projects that Terrain have a grassroots and there is no hiding form the fact that there is a lot of work to do and there are also a lot of room for error. Investors who look at Terrain from rom a valuation point of view and measuring risk as from that angle will like the market capitalisation of the company. Check out the Samso Insight conversation with Justin and make your own decision. Samso's Conclusion Terrain Minerals is one of those companies that you literally take a "punt". Personally, I like the Gallium but I don't know what is good and what is bad in terms of numbers. At the time of writing this blog, the company has released the results from their latest drilling. The numbers for the REE look ok but not mind blowing but I do not know how to comment on the Gallium numbers. This would be a great opportunity for readers to give Justin a call and get it from the man himself. Chapters: 00:00 Start 00:20 Introduction 00:50 Justin introduce Terrain 02:38 The Gallium Story 03:58 What Kind of results are expected? 05:10 Is Saltbush the main project? 06:48 The Terrain Minerals Projects 09:14 Why Terrain Minerals? 10:30 Conclusion
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QMines Limited (ASX: QML) - A Boutique Copper Producer.
05/28/2024
QMines Limited (ASX: QML) - A Boutique Copper Producer.
Samso Insight Episode 119 is with Andrew Sparke, Executive Chair of As the copper price continue to reach all time high status (Figure 1), compnaies such as QMines Limited suddenly comes as an interesting proposition. The resource is small but a recent Pre-Feasibility study is showing that the number could work. In this episode of Samso Insights, we have Andrew Sparke giving us a run down on what could be a copper producer in Queensland, Australia. Figure 1: Copper price chart. (Source: Trading Economics) The supply issue for copper has long been talked about and the market seem to have finally caught onto the nearing desperate nature of supply. The aging copper mines are facing rising cost and some of the major mines are also facing sovereign issues. To add to the supply issue, several developing mines are facing question on jurisdiction. I like companies like QMines as they are always undervalued and are constantly facing funding issues. As the market tightens, these stories begin to get noticed and their valuation begin to move. This is not an endorsement of QMines in any way, as there are still hurdles that could be deal breakers for the company. My comment is merely an observation that has stood the test of time historically. Check out the Samso Insight conversation with Andrew and make your own decision. Samso's Conclusion QMines is a company that may offer investors an opportunity to get in on the copper run. A rising commodity story that is still early in its journey with many unknowns of trivial hurdles or deal breaker hurdles. Andrew has explained how the story should work but as we know, he is the Executive Chair and his thoughts would deemed to be slightly biased. That being said, my view is that one has to look at the options out there in the market place for a story that will fit the current narrative of "Need More Copper". QMines, assuming that the numbers continue to stack up will be one of the ones on my watchlist. Fortunately for us punters, the low valuation of companies due to a bearish sentiment in commodities has somewhat naturally reduced our risk. As for the copper price, if it is to be believed, has a lot of legs to go. Some narratives have gone further and put the copper price at level much higher than Figure 1. I agree that it will go higher but I don't have an understanding on how high. There are no doubts that the old copper mines are facing rising costs and this is not a small margin. One must remember that if household living expenses are stated to have increased be in the 30% mark, the increase of 30% or more in a mine will make a big difference. I would say that the cost of mining any commodity at the depths that these old copper mines are at will be significant. At the end of the day, DYOR is the key to any decision making and one has to keep a keen eye on the copper space. When you think about what the implication will mean, the opportunity for shareholder value adding is enormous. Chapters: 00:00 Start 00:20 Introduction 00:57 Andrew introduce QMines 02:45 Going through the details of PFS 07:05 The upside of Mt Chalmers. 09:36 Any Metallurgical Issues? 11:25 The Products 11:37 The Pyrite Value Story 12:57 Where is the disconnect with value and share price? 15:19 The issue of using Copper Equivalent number. 17:30 The Pros and Cons of taking a position in QMines. 23:17 The Copper Market 26:06 Why QMines? 20:57 Timing for Investors Exit? 27:43 THE CAPEX Advantage 28:45 Conclusion
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Taiton Resources Limited and The Highway Project - Identifying Multiple Mineralising Styles
05/27/2024
Taiton Resources Limited and The Highway Project - Identifying Multiple Mineralising Styles
Multi-element anomalism coincident with geophysical targets supports the concept of a new Mineral System Province at the Highway Project in South Australia. ASX Release – 22nd May 2024 Highlights Multi-element anomalism coincident with geophysical targets indicate potential for different styles of mineralisation including epithermal gold, molybdenum porphyry and Iron-Oxide-Copper-Gold (IOCG). Taiton Resources Limited (“T88”, “Taiton” or “the Company”) is pleased to announce that all samples from the recently completed UltraFine (UF) soil sampling program in March have now been returned. The completed soil program was undertaken across three prospects; Garfield, Pluto and Snoopy, at the Highway project (Figure 1). The program consisted of a total of 1,197 samples (ex QAQC samples) and was Taiton’s first pass field-based assessment of selected prospects identified primarily from geophysical datasets. A recent litho-structural interpretation of the Highway project highlighted the potential for multiple mineralisation styles derived from intrusive activity. These mineralisation styles include epithermal gold, molybdenum porphyry, and Iron-Oxide-Copper-Gold (IOCGs). Figure 1. Location of prospects within Highway Project. The UF program was successful in identifying multi-element anomalism across the three prospects and provide further support for the various mineralisation styles Taiton is pursuing within the Highway project. Due to the early stage of exploration Taiton is not limiting its search to one mineralisation style.
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West Cobar Metals Limited (ASX: WC1) - The Salazar Story - Scandium
04/22/2024
West Cobar Metals Limited (ASX: WC1) - The Salazar Story - Scandium
Coffee with Samso Episode 196 is with Matt Szwedzicki, Managing Director of In my first conversation in June 2023 with West Cobar Metals Limited, I noticed the amphibolite basement for the Salazar project and asked how this could affect the mineralogy of the project. With nearly 12 months of work since that time, the benefits of the Newmont deposit are now coming to light. In this episode of Coffee with Samso, Matt Szwedzicki shares with us the potential multi-commodity aspect of the Newmont deposit. The company has come a long way in substantiating its view on the new strategy in bringing light to the Titanium and Scandium part of the flow chart. This is an unfolding story and credit goes to the management for looking at the alternative value of the Newmont project. The increasing tenure of the project means that the protection of the potential value adding process is now in safekeeping. The potential extension of the amphibolite is now for West Cobar Metals to discover and if the Scandium and Titanium strategy holds ground, the shareholder value will be very interesting. Time will tell, but at least it is up to the company to find it. Samso's Conclusion I have been fascinated with the West Cobar story as it is the only Rare Earth project that I have come across that has a amphibolite basement, or rather, one that has a non-granitic basement. This stands out even more when you know that the Esperance region does not appear to have an equivalent. When I first talked to the company, I posed the question to management, what is the significance of the amphibolite? Does it come with other commodities (at that time they had a HPA resource sitting on top of the Newmont project)? There is now a pathway for the company and it will be interesting where this leads to in terms of shareholder value. The scandium story is very interesting as I have had some experience of that sector nearly a decade ago. If you watch the video and listen to Matt when he talks about the Scandium pricing mechanism, it is a revelation. For once, we have a market that is priced so high that it needs new supply to bring the pricing down so that it can create more supply and more use. It is not a matter of lack of demand, but that the sector needs supply. When you think about what the implication will mean, the opportunity for shareholder value adding is enormous. Chapters: 00:00 Start 00:20 Introduction 01:23 Update from Matt 01:43 More ground for Salazar 01:56 An updated exploration target 02:22 Realisation that Newmont is different 02:40 The Titanium Factor 02:59 Titanium Exploration Target 03:06 Presence of HPA 03:30 Flow Sheet 04:52 Titanium Mineral Study 06:05 What about this Scandium in Salazar? 07:32 Is Newmont more of a Critical Minerals project as opposed to a Rare Earth project? 09:02 Is there enough volume for the other commodities to be economical? 10:47 What triggers should investors look for to take a position in companies like WC1? 12:55 All about Scandium 14:40 Why is Scandium exciting? 15:43 The high pricing of Scandium. 16:41 Supply bottleneck may be changing 17:50 US Defense Department looking out for Scandium 18:24 Solid oxide fuel cell use of Scandium - green fuel transition 19:13 Where will the new mines come from - reasons why Newmont is the front runner 19:46 Newmont may have a potential positive metallurgical pathway 21:17 High grade vs. normal grade of Scandium 22:48 News Flow 24:43 A Natural pivot for WC1 25:49 Last words from Matt 26:57 Conclusion
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Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: April 2024 Update
04/09/2024
Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: April 2024 Update
Coffee with Samso 195 is all about the accessibility of the Jupiter Rare Earth project. This episode comes from the site of the project and lets audiences see why Jupiter is all about Location, Location, Location. is now finalising a drilling program to infill the Jupiter project as they work to build a maiden JORC resource for the project. It is also now brining management to site to see for themselves the ease of having a potential mining proposition. Managing Director, Andrew Radonjic and the Chair, Mel Ashton is sharing with us their thought on this episode of Coffee with Samso. There are no revelations but a reinforcement to investors and shareholders that the potential for a mining operation will come with Tier 1 infrastructure and potential partners or off-takers. Remembering the Reasons to Focus on the Jupiter REE project. The fanfare on the Jupiter Rare Earth project is all about the ASX release by Venture Minerals on the 29th November 2023 () and the second round of results that was released on the 8th March 2024 (). The investor interest that followed is now a The share price has been very buoyant and when taken into context of the Rare Earth sector in general, Venture Minerals is doing very well. There is a keen interest in the market to see where this story will end up. Check out the conversation with Andrew Radonjic below: Samso's Conclusion In the lead up to the trip to the project, Andrew Radonjic had been taking a position that the location of the project could be a game changer and I have to say that it does make sense. The highway is within 2km from the edge of the tenement boundary, there is a gas Chapters: 00:00 Start 00:55 Introduction to Mel Ashto3 00:53 Updates on Jupiter 04:34 The Potential Size of the Jupiter Resource 08:55 Potential Strategy for Jupiter Project 11:52 Could there be other High-Grade "Cores"? 17:54 Discussion on Metallurgy 20:52 Location, Location Location 23:56 How can Venture take advantage of the REE Market? 25:57 What would the Exit look like for potential investors? 26:58 View on the Rare Earth Market over the next 12 months? 34:41 News Flow 38:00 Tin 39:11 Conclusion
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The Uranium Mining Debate - Policy Changes are on the Horizon - Episode 116
04/08/2024
The Uranium Mining Debate - Policy Changes are on the Horizon - Episode 116
As we move into the generation of clean energy, the topic of uranium mining is brewing in Australia, especially in Western Australia. The only state and territory in Australia where uranium can be mined is South Australia and the Northern Territory. The Western Australian government took a stance a few years ago to ban the mining of uranium and this has taken its toll on the industry. However, it does seem that the sentiment to overturn that decision is now softening. The mining industry in Western Australia, by far the biggest player in Australia, is facing one of its biggest changes in 2024 and the change may only be starting. The nickel industry is hemorrhaging with the rise of the Indonesian nickel industry. The dominating nature of the nickel industry in Indonesia has taken the world by storm and the result for Western Australia and the rest of the world is that their own mines are now facing closure and a bleak future for those that are still in operation. The biggest player in the industry in Australia is BHP's Nickel West, which is certainly looking at closure and the loss of jobs and income for Australians. 2024 is absolutely turning out to be the year of changing fortunes for Australia in terms of being the commodity mecca of the world. There are real challenges that are not only restricted to nickel (almost a done deal), but there are also negative sentiments towards lithium, rare earths and finally iron ore. The misfortunes in turn could create the necessary heat to make the Western Australian and in large part the Federal government bodies look seriously at uranium as an alternative mining breadwinner. The World According to Jonathan Fisher Jonathan Fisher is the CEO of and this Samso Insight discussion is a good introduction to the challenges and the deep misunderstanding of the general population to uranium mining. Jonathan comes from a long history within the nuclear world and in this Samso Insight conversation, he is simply stating facts to explain the debate for the mining process and not about the building of nuclear power plants. Jonathan just wants the myths to be taken out of the discussion and I agree with him that the conversations out in the world have been wrong and largely made erroneously to be facts. Samso's Thoughts There is no doubt in my mind now that the mystery of Uranium Mining and the Nuclear Energy debate is shrouded by a lack of understanding and the perception created by the anti-mining fraternity (based on personal agendas). The narratives that Jonathan Fisher and all the other proponents for Uranium Mining are made simply to make right the wrongs of the loudest critic. One can argue based on personal preferences but the greater good for uranium mining and hence the use of nuclear energy cannot be made by the few, but it must be made for the greater good of the whole decarbonisation outcome for planet Earth. ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. ------ About Samso is a renowned platform that empowers dedicated investors to transform their investing journey. With privileged access to a wealth of up-to-date industry knowledge and advancements spanning various business sectors, you can stay informed and updated constantly. Engage actively with esteemed CEOs and influential thought leaders who are shaping industries, as they share valuable insights, unveil success strategies, demystify commodities, and predict market trends. Combined with your own due diligent Do Your Own Research (DYOR), this may guide you to make an impact on your financial future.
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Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: The Next Mt. Weld?
03/17/2024
Venture Minerals Limited (ASX: VMS) - Jupiter REE Deposit: The Next Mt. Weld?
Coffee with Samso 194 is all about the Jupiter Rare Earth project and what a way for Andrew Radonjic to start the year 2024. has an extremely well-rounded portfolio of projects and the inception of the Rare Earth project a couple of years ago has worked extremely well for the company. The Rare Earth sector may have come and gone for the ASx but it is a breath of fresh air to see the technical success of the Jupiter REE project. Anyone who has been following the ASX REE sector recently will know very well the bearish tone but those who have been on the Venture Minerals wagon, will think differently. You could put Venture Minerals on the top of the list for generating the most interest in the small-cap mineral explorers list. The interest in Venture started with the ASX release on the 29th of November 2023 () and the much anticipated second round of results was released on the 8th of March 2024 () which generated another rush on the share price. Figure 1: The Venture Minerals Limited (ASX: VMS) share price. (Source: Commsec) In this episode, Andrew Radonjic gives us an update on the Jupiter Rare Earth project and we discuss why he feels the project stands out from the crowd. Samso's Conclusion The Samso platform has had the majority of the clay rare earth story on the ASX for the last couple of years. It has been a great journey from the beginning to now where I could effectively call a mature understanding of the industry. If we are all on the same page, the understanding now is all about the metallurgical results, and the chemistry of extraction. In some way, we all know that the range of results from all the other clay REE players has been pretty consistent. There have not been too many outliers on the good or the bad end of the spectrum. If we consider this thought, the metallurgical results for Jupiter will be within range and there are some similarities to Mt. Weld, then Venture may have found themselves a project that could be more than interesting. As Andrew pointed out in the end, it is all about the location. The drilling results are on the top end of the scale, the location is in proximity to Mt. Weld and the plant by Iluka, the metallurgical results which are still outstanding will most likely come within range or better and there are no logistical nor administrative obstacles in sight. With all that in mind, the Jupiter project must surely become a jewel in the DYOR category for ASX investors wanting an REE play in their portfolio. I encourage you to watch and take notes because as I have always mentioned on the Samso platform, the one economical project in many non-economical projects that are in the market comes once in a while and if you can take the risk, do big-time DYOR. Chapters: 00:00 Start 00:20 Introduction 00:53 Updates on Jupiter 02:46 Discussion about the next drilling phase 04:04 What makes Jupiter stand out? 09:25 VMS in the current market 15:44 About the metallurgy 21:06 What could lift the REE market? 23:53 For investors looking to position themselves in VMS 29:01 Other VMS projects 32:45 News flow 35:59 Conclusion
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OD6 Metals Limited (ASX:OD6): The Path To Production - 2024
12/21/2023
OD6 Metals Limited (ASX:OD6): The Path To Production - 2024
As we close off 2023, what a better way to end with Coffee with Samso Episode 193 is with Brett Hazelden, Managing Director and CEO of . The Rare Earth story is now reaching a stage where it is now all about the chemistry. Most followers of the sector are now assuming and accepting that companies will report minerals resources that will be large enough to sustain any operations. What is unknown is the cost of the chemistry that will bring in the revenue and profits at the end of the exercise. I think in this episode of Coffee with Samso, Brett Hazelden makes a very compelling case for the OD6 Metals story. There is a lot of confusion in the market in terms of what is the end game for these clay rare earth projects. Brett is a metallurgist and he comes from experience when he talks about the downstream process. For those viewers who are pondering about the Rare Earth sector, this is a must watch episode of Coffee with Samso. Samso Conclusion As many of you who have followed the Samso platform, you would have been watching a lot of Rare Earth stories lately. There is no doubt that the rare earth industry is very complicated and confusing which is primarily being fuelled by a cloud of uncertainty on the future. This is something that I had as well but you would have heard me mention this very often, recently, that the trip to the rare earth conference in Canberra has pretty much cleared it up for me. My optimism that was derived from the conference is not an indication that the sector is going on a bull run. My thoughts are that the reality of a strong future for the demand of rare earths will be very profitable for the companies that stick to their work and are able to sustain their path with funding. The ability to attract funding over the period is critical. In some ways, you could look at the this time of the market as a reset of the rare earth story, in terms of valuation. This is the time to do your DYOR. For all investors, if the commodity boom is around the corner and the rare earth metals are part of that run, then you would want to do some good research now. Chapters: 00:00 Start 00:20 Introduction 01:03 2023 recap 03:32 Understanding the chemistry 07:14 Lowering the costs of production 09:45 Discussion about ESG 11:27 What is driving the economics of these clay projects? 15:46 Difference between Australia and South America - grade and processing route? 19:38 Takeaways from the Canberra REECon 26:16 What’s on the cards for 2024? 32:03 Discussion about the rare earth market price 35:14 News flow 36:04 Final thoughts 39:46 Conclusion
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Venture Minerals Limited (ASX: VMS) - A Different Australian Rare Earth Story - The Jupiter Project.
12/17/2023
Venture Minerals Limited (ASX: VMS) - A Different Australian Rare Earth Story - The Jupiter Project.
Coffee with Samso 192 has Andrew Radonjic talking Rare Earths at the Jupiter project. is now at the crossroads of emerging as a Rare Earth player in what is a complex and ultimately future-proofing sector. I labeled Venture Minerals as a in my very first interview with Andrew Radonjic, the Managing Director way back in October 2020, and this is another prime example of that business approach. The rare earth sector has had a lot of attention in the last 24 months and like all commodities, it is going through turbulent times. Samso has had the greatest privilege to have interviewed many of these stories over time and I see Venture Minerals as an interesting change to the current scene On the back of the recent announcement by Venture Minerals on the 29th of November 2023, entitled , the company has raised additional funding to work on the project. In the current market, this is a strong vote of confidence for the potential of the Brothers REE project. In this episode, Andrew Radonjic shares with us his thoughts on the project and a good insight into the facts of the recent drilling results. In combination with the historical exploration activities, the picture of why Venture Minerals feels this project will have a future is material for viewers. Check out the conversation with Andrew Radonjic below: Samso's Conclusion As I have mentioned, we have had a good amount of content that is related to the rare earth sector, and my thoughts, which are consistent with most commentators, is that every REE project is unique. The key is what is at the bottom line of the project. Does it make money when the cookie crumbles? The Jupiter target is a clay-hosted rare earth project and as Andrew mentioned, there has been little metallurgical work done but these days, we are very comfortable assuming that it is a typical clay-hosted ree system. I don't think that this is a unique clay-hosted system but what will make it different is the logistical and the potential grade and tonnage. The other point of difference is a different social license. Most of the other projects have to deal with private landowners and the existence of the population. It may not be obvious now but I think in the long run, the bottom line will be noted. This is not to say that the others will not make money. As I measure the landscape for this sector, the companies that are left standing in the long term will be big winners. Fresh investors with more money in the bank will go a long way to becoming a long-term player. Chapters: 00:00 Start 00:20 Introduction 00:54 What is happening with the Jupiter REE Target? 03:56 Does alkaline intrusion play a part in Jupiter? 06:50 Progress on the drilling at Jupiter 14:11 What sets VMS apart from the others? 25:17 Comments for existing shareholders 29:37 Why did the recent new investors buy into the VSM Story? 30:57 News flow 33:34 Conclusion
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Heavy Rare Earths Limited (ASX: HRE) - Preparing for 2024.
12/10/2023
Heavy Rare Earths Limited (ASX: HRE) - Preparing for 2024.
Richard Brescianini, is back with Coffee with Samso Episode 191 and sharing with us the path forward with . I have always said that Richard Brescianini, the Executive Director of Heavy Rare Minerals Limited, is the best person when it comes to understanding how the Rare Earth sector functions. Richard has had decades of experience within the sector and in this Coffee with Samso, he shares with us what is happening with HRE and what is the path forward in 2024. The rare earth sector is undergoing some reality checks and as investors look around, there are only a real handful of companies left that can be considered as real contenders. There is a rush to go to Brazil to chase the so-called "ionic" projects but what everyone has to consider is what will be the economics of the business. In this episode, Richard and I discuss what makes the business work. The metal extraction is critical and we know the answer is acid. The more acid we use, the more metals we get out. The cost of the acid extraction is a big hurdle but don't forget all the other aspects of the business. Australian Clay Rare Earth projects may appear to be lacking in properties that are beneficial to having a good REE project, but they have lower jurisdiction risks, and hence the cost of having a sustainable infrastructure becomes challenging. Projects need to have consistency in all aspects of the deposit, such as metallurgical factors and grade. We also discussed the other projects such as Duke and Perinjori. There was some exploration news on Duke and we had a good discussion on the merits of the project. Samso's Conclusion This Rare Earth sector requires investors and companies to have a long-term view of commercialisation. We all know that the challenge in working on clay rare earth projects has been a long road and very challenging. There have been many comments that the outcome for the companies promoting these projects will end in tears. If you have been following the markets you will be swayed with the depressed equity market. I must admit that I had similar thoughts. My thoughts are whether the demand and the hype would be sustained. I recently attended a Rare Earth Conference in Canberra and I was surprised that I was super attentive over the 3 days. I think I may have only missed one talk. What I took away from that conference was a renewed enthusiasm for the sector. The main reason is that there appears to have been a lot of money already spent. Furthermore, there seems to be a lot more money that is in place to help create a new downstream chain that is outside China. Before going to the conference, I heard all the talk but one has to take all those noise with some caution. However, after the conference, I am convinced that the talk is real and the demand for more REE is believable. The establishment of the downstream process is in no way near being completed but the process is there. The amount of money that has been pledged to establish a non-China-aligned downstream chain is staggering. The projected demand for REE for our electrification journey appears to ensure the longevity of companies such as HRE. Hence, my opinion for those who are interested in this sector should DYOR and look into what is happening behind the noise you hear from the general stream of news. Spend some time and look into what is happening in the real REE world. Chapters: 00:00 Start 00:20 Introduction 01:10 Cowalinya Exploration Target 06:03 Could the geology create issues for your Exploration Target at Cowalinya? 09:05 All about the Duke Project. 14:03 Do you think Duke could have a different REE chemistry? 17:24 New Project - Perenjori 22:32 Discussion about the clay-hosted space 27:21 A second supply chain for the rare earths market? 37:58 What are the immediate goals for HRE to monetise the business? 44:17 What could disrupt the planning? 47:21 What should investors be looking out for? 52:05 Conclusion
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New World Resources Limited (ASX: NWC) - High Grade Copper Story - Antler Project.
10/10/2023
New World Resources Limited (ASX: NWC) - High Grade Copper Story - Antler Project.
Coffee with Samso Episode 189 is with Mike Haynes, Managing Director and CEO of New World Resources Limited (ASX:NWC). The last time we spoke to the story was about getting mining happening. Today, we hear that the mining process is in place and while they are going through the paces, they are chasing very compelling exploration targets. There are very few to no stories on the Australian Stock Exchange (ASX) that is flavoured copper not to mention high-grade copper. The Antler project by all accounts in the copper mineral exploration industry is a technically strong project. It is probably better categorised as a near-producer story now as the company moves into the mine planning stage. Samso's Thoughts New World Resources, as I have stated earlier, is a no-brainer for making a strong DYOR company on your watchlist. The bearish sentiment in the market which has depressed equity pricing in the small-cap sector is a blessing in disguise for new players into New World Resources. For existing shareholders, it may be a good time to average down. I remember my where he talked about the story of when he had bought Paladin Energy Limited ( Rick and Paladin - The story of Investing in Mineral Explorers) all the way to 1c because he believed in his own conviction of the quality and the factual truth of the project and the company management. For those people who sat through all the Coffee with Samso episodes with Mike Haynes, you would see the consistency of the conversation. The technical aspect of Antler is rare in this industry. The in Western Australia would be something that Antler should be compared to, in terms of technical attributes and potential. For those people who are entertaining the idea of learning more about New World Resources, please feel free to send me an email and I will forward it to Mike Haynes. I strongly encourage dialogue with management as they are more than happy to take the time to go through your queries. Check out this Coffee with Samso with Mike Haynes from New World Resources Limited. Chapters: 00:00 Start 00:20 Introduction 01:15 Updates from New World Resources 02:24 The resource value 03:17 Upsides to the Antler exploration 05:33 Discussion about the recent scoping study 08:07 Discussion about Porphyries 10:36 The mining strategy 14:30 VMS belt clusters 20:16 The Javelin Project 23:48 The next set of drilling 27:45 Discussion about current commodities 30:20 Exceptional IP anomalies 37:29 Any possible risks? 40:34 News flow 43:38 Why should investors look at New World Resources? 45:03 Conclusion
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Heavy Rare Earths Limited (ASX: HRE) - Mineral Resource Upgrade | Coffee With Samso Ep. 190
10/08/2023
Heavy Rare Earths Limited (ASX: HRE) - Mineral Resource Upgrade | Coffee With Samso Ep. 190
Coffee with Samso Episode 190 is with Richard Brescianini, Executive Director of . The journey to understand the ins and outs of the Rare earth sector has been sparse over the last two years. The sudden rise of the REE sector is a perception that has been shrouded with a lack of understanding. Samso's Conclusion Heavy Rare Earths Limited is slowly ticking the boxes to go towards producing a Rare Earth product which will ultimately bring revenue to the company. The upgrade of the Mineral Resource has effectively allowed HRE to show that they have the means to be a major player. Richard Brescianini has made it very clear that the final grade going into the plant will be Tier 1. Richard is one person who has seen all the issues and he will be able to see the hurdles coming for all the players in this sector. His experience will be the critical measure when HRE travels down the line of finding buyers for their product. This Coffee with Samso has some very important thoughts from Richard and I recommend proponents that want to learn the business end of the REE sector, get comfortable and settle in for a lesson. Chapters: 00:00 Start 00:20 Introduction 01:07 Richard update 03:08 An upgrade in resource and grade. 06:21 A natural mineralisation cut-off. 06:47 What investors need to understand about resource grade and mill grade. 07:43 Are there more high-grade pods in your project? 12:03 Grade/Thickness and Grade/Tonnage Curve 17:08 Is there a sweet grade spot in the project? 19:06 Metallurgical Flow Sheet 20:21 New metallurgical drilling samples. 21:37 Aim to produce a mixed REE carbonate for potential customers. 22:27 Giving reasons for potential customers to invest in HRE. 22:59 Strategy to Brand HRE to potential customers. 24:21 Branding HRE as a real REE producer. 25:46 The market of REE, the upside, the current price of REE, and why it's rising. 29:25 What is the sweet sustainable price for REE? 30:38 Upgrade in Mag REE for HRE. 31:29 The importance of Magnetic REE. 32:39 Recovery results tend not to change very much. 33:29 Other projects. 34:49 Exploration Target for Cowalinya - Pending 35:10 Why buy HRE? 37:43 Focus should be on the Business. 38:59 Conclusions
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Riedel Resources Limited (ASX: RIE) - The Kingman Project - Update.
10/04/2023
Riedel Resources Limited (ASX: RIE) - The Kingman Project - Update.
In this episode of Coffee with Samso 188, we have David Groombridge, CEO of sharing with us an update on Exploration activities at the Kingman Project. The Riedel Resources story is one of the few real exploration plays on the Australian Stock Exchange (ASX). In this episode of Coffee with Samso, David Groombridge gives us a quick update on the project and what shareholders and potential investors should be looking out for in the coming months. Listen to our coffee conversation with Mike Bohm and David Groombridge here: Tune in to the Riedel story here. Chapters: 00:00 Start 00:49 Update from David Groombridge. 01:22 Any new Learnings at The Kingman project. 02:24 The Tintic - Jims Structural Corridor. 03:19 Any resemblance to Mineral Park? 05:04 What is the Exploration strategy now? 06:25 Exploration is a long-term proposition. 07:32 Any issues with regulatory issues? 08:04 What would make Investors worry and celebrate the Riedel story? 09:25 Any potential acquisition in play? 10:27 When will the resource come out? 10:48 Conclusion
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The Father of the Argyle Diamond Mine - The Largest Diamond Mine in the World.
09/27/2023
The Father of the Argyle Diamond Mine - The Largest Diamond Mine in the World.
n terms of a significant mineral discovery in Australia, one cannot go past the search for the Argyle Diamond Mine in the Kimberley Region of Western Australia. The Argyle Diamond Mine discovery was the first of its kind in every aspect of the project. Episode 115 of Samso Insights is all about Ewen Tyler and how he narrates a discovery of a lifetime. Ewen Tyler is the man who is credited as the "Father of the Argyle Diamond Mine". I will have to say that as much as all Discovery Journeys is a team game, there had to be a driver and a man to take the heat. The diamond project was the biggest, had the best grade, was the first major diamond deposit discovery in Australia, and most importantly, it was the first diamond discovery outside the cartel of De Beers and the Russian Federation. A History of the Argyle Diamond Mine (Wilipedia) The Argyle Diamond Mine (Figure 1) was a located in the East region in the remote north of . Argyle was at times the largest producer in the world by volume (14 million carats in 2018), although the proportion of gem-quality diamonds was low. It was the only known significant source of and diamonds (producing over 90% of the world's supply), and additionally provided a large proportion of other naturally coloured diamonds, including champagne, cognac, and rare blue diamonds. Mining operations ceased in November 2020, after 37 years of operations and producing more than 865 million carats of rough diamonds. Mine operator plans to decommission the mine and rehabilitate the site at least through 2025. The Argyle diamond mine is also notable for being the first successful commercial diamond mine exploiting a of , rather than the more usual pipe; much earlier attempts to mine diamonds from in , United States, were commercially unsuccessful. The Argyle mine is owned by the , a diversified mining company that also owns the in Canada and the in Zimbabwe. Figure 1: The Argyle Diamond Mine. My Fascination for Diamonds and Diamond Exploration This episode of Samso Insights will go down as one of my favorites. It was a great privilege to have had access to a story like that of Ewen Tyler. The greatness of his achievement is his ability to keep the search for a diamond source alive for so long. I have been a big fan of diamond exploration since I started my Honours Thesis at the University of Western Australia. In fact, if my memory serves me correctly, I had a great interest in gems even before my time at University. As Ewen put it perfectly, "Only Fools Will Explore for Diamonds". This statement is in fact very common with people who have had the taste of diamond exploration. It is probably safe to say that only passionate explorers will appreciate the hardship that diamond explorers had to go through with little to no reward. There is not much to elaborate here except to tell readers to settle in and listen to what is arguably one of the best stories about persistence and gamesmanship to persist with the search for a "potential" diamond discovery. The interview has been largely guided by the book by Stuart Kells entitled " Argyle - The Impossible Story of Australian Diamonds". When I did the Samso Insight about the discovery of the Olympic Dam, I did not have the information about the business side of the process. This book by Stuart Kells gave a great narrative on the Boardroom aspect of the journey. To Purchase the book click on our Amazon Affiliate link: Samso's Conclusion The diamond exploration industry is pretty much non-existent today. I think there is one company that may be active in the industry worth mentioning. The industry is now all about the existing miners as the flare of exploration is now too expensive. In the business of mineral exploration, the risk-reward ratios are now not even worth discussing. The Arglye story is inspired by the famous pink diamond but as Ewen Tyler spells it out, there was no consideration of these stones. The success of Argyle was the marvels marketing the value of the stones which made the mining process work. In my opinion, there is nothing more beautiful than a good coloured stone (Figure 2). There will be many narratives out in the public space that will argue that a quality white will forever be better, but a beautiful stone is one that makes a statement. It is about what the stone shoes and the history that it comes from that creates the value. If you watch this interview, you will get the sense that the value of the argyle stones was all about the Argyle story. Figure 2: A range of Argyle's best. Chapters: 00:00:00 Start 00:00:15 Introduction 00:01:00 The Ewen Tyler Story - The beginning 00:13:02 Rex Prider Factor 00:14:46 Start of the search for diamonds in Australia 00:17:21 Introduction of Rio Tinto 00:18:22 Path to Ellendale 00:20:14 Business of Ellendale 00:20:52 Discovery of diamonds in Smoke Creek 00:21:25 Bringing context into the search area 00:22:16 Team Argyle 00:24:41 Arrangement with the Western Australian Government 00:28:27 The Rio Tinto Lifeline 00:29:42 Early signs of the discovery of Argyle 00:31:34 Waiting Game - The Process and The Secrecy Game 00:33:53 Ewen earned the title of The Father of Argyle Diamond Mine 00:37:02 Arriving at Argyle 00:38:05 Unbelievable Grade of Diamonds 00:39:43 Smoke Creek and Limestone Creek - First sighting of the Argyle Pink Diamond 00:40:42 The Mythical Value of the Pink Diamonds for Argyle 00:42:50 Economic Study of the Argyle Diamond Mine 00:43:17 Funding the mining of Argyle Diamonds 00:50:08 First Nation Discussions 00:53:47 The Birth of the Marketing Gunnies of the Argyle Diamonds 01:00:31 Webb Diamond Project 01:01:28 Other sources of diamond projects 01:03:49 Ewen Thoughts on Mineral Exploration 01:05:34 Importance of the Team in Mineral Exploration 01:07:04 Is there an Impossible Exploration Discovery? 01:08:53 Conclusion
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Mount Ridley Mines Limited (ASX:MRD) - The Mount Ridley REE Project - The Next Stage.
09/18/2023
Mount Ridley Mines Limited (ASX:MRD) - The Mount Ridley REE Project - The Next Stage.
Episode 187 of is with Guy Le Page, Non-Executive Director of . Mount Ridley is now at the business end of the Rare Earth journey. Mount Ridley Mines is now focusing on the flow chart of the REE business. This is the money end, can you make the processing part cash flow positive? When I had my first Coffee with Samso with Guy Le Page, in July 2022 (), it became evident that the company had a strong focus on optimising its flow chart. The company was confident in its ability to achieve the desired tonnage and grade, but its primary emphasis was on the final stage. In my view, one of the major benefits for companies like Mount Ridley is their project's location in the Esperance region. Numerous discussions have highlighted the region as the ideal site for the government to establish a Rare Earth Hub. Check out the conversation in this Coffee with Samso and, as I always encourage, DYOR. Chapters 00:00 Start 00:20 Introduction 01:10 Updates on the Mia Project 02:45 Beneficiation Results 03:55 Leach Test Results 04:59 Is Mia the main focus of Mount Ridley? 06:01 Mia prospect air-core drilling 06:37 Discussion about the soft REE market 09:05 Q&A from the public 09:19 Is MRD still going to list on the Frankfurt Exchange? 09:46 What is MRD’s strategic roadmap beyond 2023? 10:59 How is MRD taking a position for success amongst Esperance peers? 11:59 Is using HCL costly? And what about government grants? 13:03 Has MRD determined the controls in the clay-hosted REE project? 15:24 Prediction of the path of the REE market as we move forward 17:01 What makes MRD stand out? 18:20 Discussion about the REE market 20:17 Conclusion Samso's Conclusion When investing in the Clay Rare Earth sector, it is crucial to consider the economic viability of the processing flow sheet, and, while the industry has yet to determine its profitability, this does not mean it won't become a viable option. However, it is important to acknowledge that the industry is still in its early stages, and there will be a steep learning curve filled with uncertainty. The industry has successfully identified the process of leaching out the Rare Earth Elements (REE), but the economic outcome in terms of profitability remains uncertain. The REE sector, including both hard rock and "Clay/ionic/alluvial" types, has gained attention in investment circles due to recent geopolitical developments. China's dominance in this sector is widely recognised and understood. The previous discussion on REE in the investment community was short-lived in 2010, as the market experienced rapid fluctuations. However, the current rise of the REE sector has shown more resilience, having been present for a couple of years, largely due to the new "cold war" with China. Balancing the REE sector will require time, and investors in this sector must cultivate patience, akin to the patience required for fishing. It is frustrating to continually emphasize that mining projects are measured in terms of years to decades, while investors, particularly new ones, expect quick results within weeks or months. Unfortunately, such quick results are unlikely to occur. Regarding Mount Ridley, they have a solid strategy, and recent results indicate a viable business. However, the investment community needs to learn to be patient and learn to "PARK" their money.
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Impact Minerals Limited (ASX: IPT) - A Developing Australian HPA Story.
09/13/2023
Impact Minerals Limited (ASX: IPT) - A Developing Australian HPA Story.
In Episode 186 of Coffee with Samso, Dr Mike Jones, the Managing Director of , educates us on the ins and outs of the HPA business. The HPA (High Purity Alumina) story for Impact Minerals is now all about the economic process of making HPA. There are no longer any questions on the tonnage or the grade. In simple terms, the company is at the business end of the mineral resource sector. One of the key aspects of understanding Impact Minerals is to have a clear view of the company's business. Impact is in the business of HPA and what that means is that it needs to deliver High Purity Alumina in the 3N or 4N level (Figure 1). Figure 1: The HPA business detailing the different products and the potential income. (Source: Impact Minerals Limited). When considering companies like Impact Minerals, the initial association is often with mineral exploration. However, it is important to view Impact from a fresh perspective. In this episode, Dr. Mike Jones discusses the company's current focus on the Pre-Feasibility Study (PFS) phase, which aims to determine the profitability of the Lake Hope HPA project. This shift in focus highlights Impact's commitment to reaching a stage of financial success, distinguishing it from the negative reputation often associated with mineral exploration companies. Samso's Conclusion Impact Minerals is a company that often goes unnoticed despite its promising projects. Currently, they are actively promoting the Lake Hope project, which has been discussed extensively by Mike during the past two Coffee with Samso sessions. It is evident that the Lake Hope HPA project holds significant value for the company. It is worth mentioning that Impact Minerals' Broken Hill project was among the six projects worldwide selected for the prestigious BHP Xplor program. On , the company issued a release providing further details about their participation in the . BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners. Impact received up to US$500,000 in cash payments from BHP over the next six months and gained access to a network of internal and external experts to help guide development in the technical, business, and operational aspects of the company. This means that the management of Impact demonstrated credibility by successfully participating in and gaining acceptance for the . This is a significant achievement, as only six recipients were chosen for this program, indicating a high level of quality. While the market trader may perceive Impact Minerals' market capitalisation of 34.37M as high, there is an underlying value that will yield positive results in the future. The Arkun project, which we discussed in a recent episode of Coffee with Samso, is located in a jurisdiction occupied by Tier-1 resource companies like Anglo-American. This provides strong evidence of its prospectivity (Figure 2). Figure 2: The Arkun project and its neighbours. (Source: Impact Minerals Limited) is currently in the "Feasibility" stage, and the initial excitement surrounding it has diminished in the market. However, this does not undermine the value that Impact Minerals is creating for its shareholders. There are two aspects of Impact Minerals that I appreciate. Firstly, the Lake Hope project is undeniably the company's flagship at the moment. Secondly, there is potential for significant growth from the Arkun and Broken Hill projects. Tune in to Mike's thoughts here. Chapters: 00:00 Start 00:20 Introduction 01:20 Updates from IPT 02:16 Economical parameters that make an HPA project viable 05:56 All about High Purity Alumina 07:54 The Cost Curve Analysis 11:23 Discussion about entry into the HPA market 12:43 The HPA space after the commodity market softening 14:07 The market for HPA 16:04 The Arkun Project 20:51 The Forward Plan 24:52 Is Lake Hope is still the Perfect Orebody? 25:33 How should investors view Impact? 26:55 Why should investors believe that Impact will deliver the end story? 29:00 With the current interest rate trend, is it a good time for companies like Impact Minerals? 30:55 Why should investors invest in Impact Minerals? 31:48 Conclusion
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A Forgotten Gold Porphyry System in Kalgoorlie - Riversgold Limited.
09/06/2023
A Forgotten Gold Porphyry System in Kalgoorlie - Riversgold Limited.
Coffee with Samso Episode 184 is with Julian Ford, CEO of updating us on Riversgold's exploration activities since the last conversation in In our previous conversation, we discussed Riversgold Limited as a lithium explorer that I found interesting. One of the reasons I liked them is because they were among the few companies actively engaged in genuine mineral exploration for lithium. It's important for people to understand that the recent discoveries in the lithium sector have largely come from reevaluating previous exploration efforts. Companies have revisited their drill cores and discovered that the historical drilling had indeed encountered pegmatites. Samso is not begruding of the success of these companies, such as the Mount Holland Lithium project, which is now privately owned and operated by . Riversgold, on the other hand, continues its exploration activities in search of valuable lithium-bearing pegmatite. What I find interesting about Riversgold is their Northern Zone project. When I was researching this topic, I initially found their release titled a bit confusing because the project had yielded promising results. The company is proceeding cautiously to ensure the reliability of these results, which I believe demonstrates prudent management. Julian, in particular, discusses the project and takes a measured view of its potential. What does Porphyry mean? Here is a description of what a porphyry deposit means from : The major products from porphyry copper deposits are copper and molybdenum or copper and gold. The term porphyry copper now includes engineering as well as geological considerations; It refers to large, relatively low-grade, epigenetic, intrusion-related deposits that can be mined using mass mining techniques. Geologically, the deposits occur close to or in granitic intrusive rocks that are porphyritic in texture. There are usually several episodes of intrusive activity, so expect swarms of dykes and intrusive breccias. The country rocks can be any kind of rock, and often there are wide zones of closely fractured and altered rock surrounding the intrusions. As is described following, this country rock alteration is distinctive and changes as you approach mineralization. Where sulphide mineralization occurs, surface weathering often produces rusty-stained bleached zones from which the metals have been leached; if conditions are right, these may redeposit near the water table to form an enriched zone of secondary mineralization. Figure 1: A schematic diagram of the basic structure of a porphyritic profile. What is the significance of a Porphyry deposit? Based on my experience, it is quite rare to find a fertile porphyry that contains only gold. Most porphyry deposits are typically associated with copper. However, Julian informs us that their system at the Northern Zone is devoid of any other metals and is solely a gold system. When we examine the historical drilling results, we can observe significant depth of mineralization, and the grades fall within the range of atypical mineralised porphyry gold system. Julian has mentioned that they are currently awaiting the results from their recent drilling program. These results will help confirm the assay content and determine if there is any false enrichment present (see below). It will be fascinating to see the assay numbers and gain a better understanding of the potential of this project. The core samples from the drilling program appear to be in excellent condition, which further adds to the anticipation of the assay results. Listen to Julian Ford here: Chapters: 00:00 Start 00:20 Introduction 01:03 Updates from Riversgold 02:57 The Gold Porphyry story 11:22 Metallurgical Cyanide Bottle Roll Test Results 13:37 How did the Northern Zone Project fly under the radar for so long? 19:34 Mt Weld Project 20:54 How should shareholders look at Riversgold? 23:04 Newsflow 23:50 Is the Porphyry story the main focus of Riversgold? 25:26 Why Riversgold? 26:03 Conclusion Samso's Conclusion The Riversgold story is an evolving narrative, and I appreciate the adventurous spirit of their projects. Julian impresses me as a composed and strategic individual who possesses a deep understanding of his work. When examining the Northern Zone project, the drilling results are remarkable and align with the expectations for a sizable deposit with low-grade bulk tonnage. According to the , porphyry deposits are very large, polymetallic systems that typically contain copper along with other important metals. Much of today’s mineral production depends on porphyries: 60% of copper, 95% of molybdenum, and 20% of gold comes from this deposit type. , located in Utah and owned by Rio Tinto and in production since 1906, annually produces approximately: 300,000 tons of copper 400,000 oz of gold 4,000,000 oz of silver 30,000,000 lbs of molybdenum The value of the resources extracted to date from the Bingham Canyon Mine is greater than the , , and California gold rush mining regions combined. So as you can see above, the magnitude of finding a deposit of this nature in a Tier-1 jurisdiction like Western Australia is going to make Riversgold appreciate in market capitalisation.
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West Cobar Metals Limited (ASX: WC1) - The Salazar REE Deposit - Continues to Create Value.
09/06/2023
West Cobar Metals Limited (ASX: WC1) - The Salazar REE Deposit - Continues to Create Value.
Coffee with Samso Episode 185 is with Matt Szwedzicki, Managing Director of West Cobar Metals Limited (ASX: WC1) The REE story for West Cobar is taking shape showing that the volume of resources does exist. The release recently has put that question to bed. A quadruple of the previous resource is plenty. Critically, the upgrade of the resource at the Newmont prospect from Inferred to Indicated is even more impressive. Matt Szwedzicki, in this episode of Coffee with Samso gives a great summary of where West Cobar is at with the Salazar Rare Earth project. The resources are up and the market will have no fears for the project not having enough tonnes (Figure 1). Table 1: Total Resources for West Cobar Metals Limited. (Source: West Cobar Metals Limited) Interestingly, when Matt was asked if there were more tonnes, his answer was sharp and precise. There are enough tonnes and it is now all about showing the market what the economics will look like with dollars and cents. The market knows that there is no longer a question about the leachability of the Salazar resources. We closed that conversation off with the Rooster Talk 74 with Matt going through their metallurgical results. See below for links to that conversation. We discussed the recent news on Gallium and what it means for the company. The conversation continued onto the Nevada lithium project where the company was starting a drilling program. Samso's Conclusion The West Cobar journey is one of the most interesting of all the rare earth stories that have come across the Samso platform. I say interesting because they have a unique suite of potential by products that others seem to not have. As many would know, Samso has had a few Rare Earth stories come through the platform and we have learned a lot about several types of Rare Earth deposits. The Salazar stands out as it has a HPA resource and a REE resource that is Tier 1 (relative to the Australia Clay deposits). For those people who have watched the Coffee with Samso series, there was a mention of scandium in the Salazar deposit. The mention of Gallium in the mix makes the thought of credits while mining the Rare Earth a good mix. I am not saying that the credits will happen as there are many mining scenarios where what seems like value in metal is actually not profitable to keep and process. Take the Delta Lithium Limited (Red Dirt Metal Limited) scenario of having up to 300,000 ounces of gold but it does not get a mention because the value in the lithium far exceeds the need to recover the gold. However, if we look at the potential scenario for West Cobar, the soft market pricing of REE makes the proposition of multi commodities to suppress mining costs could be its joker card. The little that makes a mining proposition for Salazar is going to be good for the hip pocket. Time will tell us what the ultimate solution but investors need to remind themselves that mining projects are measured in multiple years to decades. I can say that the Salazar deposit is making all the right noise but unfortunately, the longevity of a company to pursue the project is not factored by the quality of the project. Chapters: 00:00 Start 00:20 Introduction 01:30 Salazar Clay-REE resource quadruples 05:34 What does a higher proportion of MREO mean for WC1? 06:52 The current rare earths market 08:38 Gallium at the Newmont REE deposit 11:56 Could the amphibolite be the dark horse? 15:05 Is the recent restriction on Gallium short-term? 17:55 Drilling at the Nevada Lithium Project 21:18 Metallurgical news 23:51 Additional news flow 25:13 Why investors should look at West Cobar Metals? 26:23 Conclusion
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An Insight into the Discovery of the Argyle Diamond Mine.
08/24/2023
An Insight into the Discovery of the Argyle Diamond Mine.
Mineral exploration is a complex and evolving field that has undergone significant advancements over the years. It involves a meticulous process of discovery, as exemplified by projects like Olympic Dam, which required almost two decades of planning and a decade of execution. The understanding of geology and manually handling exploration techniques, which was once laborious and time-consuming, is rapidly becoming obsolete. Photo by on In the rapidly evolving landscape of decarbonization and clean energy, it's understandable that investors and geoscientists may prioritize exploring commodities like lithium and more recently, rare earth elements. The field of mineral exploration has undergone significant changes since I entered it in 1992. The methods and technologies we use have evolved dramatically over time. However, one noticeable trend in the exploration industry is the decline of diamond exploration. In this episode of Samso Insight 113, we delve into a captivating discussion with Thomas Reddicliffe about the extensive search for the largest diamond mine. It's a topic that has intrigued many over the years, and we're excited to bring you this insightful conversation. If you've been following Samso, you might recall our previous discussion on the discovery of Olympic Dam. That was quite a journey in itself, and now we have the opportunity to explore the world of diamond exploration with Thomas Redicliffe. Thomas joined the scene in 1976, towards the end of the discovery process. He provides us with a fascinating narrative of the glory days of diamond exploration and brings us up to speed on recent developments, from even just a few years ago. It's truly a remarkable journey that he shares with us. Of course, there are many other thought leaders who could have contributed to this Samso Insight, and these will come in time. For now, we are lucky to have Thomas with us, so we hope you enjoy this episode and gain valuable insights into the world of diamond mining. The inspiration to get Samso Insight Episode 113 completed is my appreciation of what it took to discover Argyle. The book by Stuart Kells entitled "Argyle - The Impossible Story of Australian Diamonds" which you can purchase on or , was the impetus for my eagerness to try and document as much as I can to make sure the story is on the Samso Platform. Samso's Conclusion Diamond exploration is a specialised form of mineral exploration that is facing challenges and changes that involve non-geological factors, particularly in "developed" jurisdictions. Diamonds have long captivated people of all ages and are widely recognised as one of the most well-marketed commodities in the world. Diamonds are crystalline forms of carbon that are created deep within the Earth under high temperatures and extreme pressures. At surface air atmospheric pressure (one atmosphere), diamonds are less stable than graphite, and therefore, the thermodynamic conditions favour the decay of diamond (δH = -2 kJ/mol). Historical records indicate that diamonds were known to burn during Roman times (). It is worth noting that the marketing efforts of De Beers have played a significant role in establishing and sustaining the diamond market. Diamonds, regardless of scientific knowledge, are cherished and adored today as a beautiful crystal that brings joy to everyone. From the perspective of a geoscientist, the search for diamonds holds great excitement and intrigue. I consider myself fortunate to have entered the field during a time when diamond exploration was at its peak. In the 1990s, the quest for diamonds was in its final decade of glory, and the expertise of many experienced practitioners has since become scarce. The individuals who had mastered the art of diamond exploration are now approaching the end of their careers, and I worry that their valuable skills will be lost. While new geoscientists will undoubtedly acquire the necessary knowledge and techniques through a structured learning process, there are certain intangible skills that can only be honed through years of practice. It is these skills that I fear may be forgotten, and relearning them would be akin to reinventing the wheel. Chapters: 00:00 Start 00:20 Introduction 02:10 Diamond exploration - a discussion 03:19 Rundown of the search in 1973 10:04 Pragmatic approach to exploration 11:27 Treating indicator minerals for analysing 13:12 Ellendale discovery 16:27 Lamproites and Kimberlites 19:26 Discussion about the economic side 22:06 The situation after Ellendale 24:12 Was there a difference between indicator minerals? 26:05 The last 10 years of active diamond exploration 27:15 Would the technology today help with the exploration cost? 28:19 Was stream sampling more effective? 29:25 Is there still an “Argyle” today? 34:36 Discussion about Argyle 42:21 The future of the diamond industry 53:17 Conclusion
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