Bardoc Gold Limited (Spitfire Materials)
Bardoc Gold Limited (Spitfire Materials)
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West Australian explorer Bardoc Gold is targeting a Sept 2021 qtr commencement of construction and mining at its 100%-owned, 3Moz namesake gold project 40km N of Kalgoorlie in WA’s Eastern Goldfields.
The company’s timetable for its proposed gold production hub targets delivery of a mineral resource in Q3 2020 and delivery of its DFS and final permitting in the March 2021 qtr.
Strong PFS results highlight Bardoc Gold’s opportunity to develop a substantial new mid-tier Australian gold project with outstanding economics and strong financial returns just north of the world-class Kalgoorlie mining hub.
West Australian explorer Bardoc Gold is set to begin discussions with financiers while progressing feasibility work after its PFS confirmed potential for a significant long-life development of its 100%-owned Bardoc project 50km N of Kalgoorlie.
The PFS forecast average production of 135,000ozpa at AISC of $A1,220/oz over an initial 8 years from its maiden probable openpit and underground ore reserve of 10.4Mt @ 2.4g/t for 789,000oz.
Bardoc Gold has lifted measured-indicated-inferred resources at its 100%-owned Bardoc Gold Project, 50km N of Kalgoorlie in Western Australia, 17% to 3.02Moz within 49.4Mt @ 1.9g/t Au.
The updated resource estimate contains 42.2Mt @ 1.5g/t for 2.06Moz potentially open pittable and 7.2Mt @ 4.1g/t for 962,000oz that may be amenable to underground mining. Indicated resources up 19% to 28.88Mt at 1.9g/t -- 58.5% of the total -- with indicated resources up 11% to 1.77Moz. PFS is due for completion in Q1 2020.
Bardoc Gold is close to completing an up to $A15M raising to bring on the next stage of exploration/development for its flagship 2.6Moz Bardoc Gold Project near Kalgoorlie in Western Australia.
The company has received firm commitments for its 120M share/free option placement at $0.10cps, along with an SPP on the same terms for an additional $3M.
The upcoming development work includes high-impact drilling across multiple newly-identified exploration targets at Bardoc.
Bardoc Gold has lifted JORC resources at its flagship Bardoc Gold Project, 55km N of Kalgoorlie in Western Australia, to 2.71Moz with the approx $A1.44M, all shares acquisition of 111,600oz JORC gold resources nearby.
Bardoc Gold is raising up to $A11.3M, primarily to fast-track its flagship 2.6Moz resource Bardoc Gold Project, 55km N of Kalgoorlie in Western Australia.
The company has received commitments for a 175M share placement at $A4cps for $7M and will also undertake a non-renounceable pro-rata entitlements issue on a 1-for-10 basis at the same price for $4.3M.
The Bardoc Gold Project and Bardoc Gold were formed in Oct 2018 following completion of the merger between Excelsior Gold and Spitfire Materials.
A 24% increase in measured, indicated, inferred resources at the Aphrodite deposit has lifted JORC resources at Spitfire Materials’ recently consolidated Bardoc Gold Project in the N Kalgoorlie district of Western Australia, to 2.58Moz within 38.6Mt @ 2.1g/t gold.
The merger/scheme of arrangement of Western Australia exploration/development neighbours Spitfire Materials and Excelsior Gold has been implemented, making Excelsior a wholly-owned subsidiary of Spitfire.
The new company will now move to create a new +2.1Moz resource, stand-alone N Kalgoorlie gold production hub with a near future output of circa 100,000oz pa and room for expansion.
Excelsior Gold shareholders have approved the company’s mutually agreed takeover by Western Australia gold neighbour Spitfire Materials to create a new +2.1Moz resource stand-alone N Kalgoorlie gold production hub with a near future output of circa 100,000oz pa with room for expansion.
The Spitfire offer of 1 share for every 2.208 Excelsior shares, will give Spitfire shareholders 58.3% of the merged entity and Excelsior shareholders 41.7%. Following court approve, it is expected that deal will be implemented Oct 3, 2018.