Wednesday, 12 August, 2015 - 07:41
Red Mountain raising to drill promising new target
Company looking to replicate existing South West Breccia gold resource
Jon Dugdale has over 30 years of geological experience in the resources sector, including a strong track record of discovery, promotion and capital raising.
Mr Dugdale spent the first 20+ years of his career with WMC and MPI Mines. He was involved in major discovery programs at the St Ives and Agnew Gold projects in Western Australia, the exploration and development of several discoveries made by the MPI exploration team, and direct involvement in the >1Moz Golden Gift discovery in Western Victoria.
He also spent over 10 years as a fund manager with Lion Selection Group and as managing director of several ASX-listed companies.
Mr Dugdale graduated as a geologist with first class honours from the University of Melbourne, and is a Fellow of AusIMM. He was a joint recipient of the Joe Harmes Medal for excellence in mineral exploration and contributions to the discovery of ore deposits.
Rank | Company | # | |
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470th | ![]() |
Golden Deeps | $0 |
559th | ![]() |
Walkabout Resources | $0 |
560th | ![]() |
Whitebark Energy | $0 |
561st | ![]() |
WIA Gold | $0 |
562nd | ![]() |
XTC Lithium | $0 |
Rank | Company | 1 Yr | 5 Yr |
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1446th | Orcoda">Orcoda | -47.8% | -9.21% |
1447th | Hawk Resources">Hawk Resources | -47.86% | -36.15% |
1448th | Golden Deeps">Golden Deeps | -47.98% | -36.89% |
1449th | Sipa Resources">Sipa Resources | -48.09% | -30.88% |
1450th | Element 25">Element 25 | -48.11% | 8.84% |
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NEW ROLE: Chief Executive, Sabre Resources | 01 Jun 2021 |
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NEW ROLE: Chief Executive, Golden Deeps | 01 Jun 2021 |
Company looking to replicate existing South West Breccia gold resource
New drill targets identified at high grade Lobo gold project
Korean group to earn up to 75% for US$2m expenditure on non-core Philippines prospect.
Exploration program strikes bonanza gold grades at surface in the Philippines.
Company now funded to drill test exciting high grade targets
Perth based Red Mountain Mining has renegotiated its deal with UK based strategic funding partner Bluebird Merchant Ventures Ltd for its Batangas Gold project in the Philippines.
In one of the most difficult mining markets in many years, high grade gold explorer Red Mountain Mining has signed a new deal that will see project level funding for its Philippines Batangas based Gold Project significantly increased.
Perth based Red Mountain Mining has boosted its cash reserves by $338 000 courtesy of the Federal Government’s Research and Development rebate scheme.
Red Mountain Mining’s strategic financing partner, UK based Bluebird Merchant Ventures has announced its intention to list on the London Stock Exchange. Red Mountain has an agreement with Bluebird that will see around AUD$1.2m flow to Red Mountain 3 days after Bluebird lists in return for 15% equity in the company’s Batangas Gold project in the Philippines.
ASX listed Philippines high grade gold explorer Red Mountain Mining look set to bank $2.65m in the next few weeks after a strong showing in their recent rights issue and the listing of their strategic financing partner on the London Stock Exchange.
Red Mountain Mining's strategic funding partner for their Batangas Gold project in the Philippines, Bluebird Merchant Ventures, has listed in London after raising GBP1.675m. AUD$1.7m of that money will now flow to Red Mountain Mining to complete the DFS at Batangas, achieve final permiting for the project and to drill out some high grade gold targets.
Red Mountain Mining will now significantly ramp up their Batangas Gold project in the Philippines following the formalising of their joint venture agreement this week with UK based Bluebird Merchant Ventures. Red Mountain management negotiated a sublime deal with Bluebird that values the Batangas project at 3 times the entire company's market cap.
Red Mountain Mining have released the results from their much anticipated pre-feasibility study into the Batangas Gold Project just two hours drive south of Manila in the Philippines. The PFS shows the mine will churn out $46m in free cash over the initial 7 year mine life and produce gold at USD$735 an ounce from a maiden reserve of 128 000 ounces of gold. The project has plenty of upside from a further 320 000 ounces still sitting at inferred status.
Neil Warburton has stepped back from his role as executive chairman to a non-executive position, following Jon Dugdale’s confirmation as managing director. Mr Dugdale has just resigned as president and CEO of Mindoro Resources.
Red Mountain Mining says it is keen to fast-track development at its Batangas gold project in the Philippines after encountering an exceptionally high-grade gold lode of about 1 ounce per tonne.
Shares in West Perth-based explorer Red Mountain Mining have soared on the back of another high-grade gold discovery at its Batangas project in the Philippines.
SPECIAL REPORT: Poor investor sentiment and low confidence have put a crunch on capital for WA’s junior miners.
SPECIAL REPORT: Tight debt and equity environments have led many junior mining and exploration firms to seek alternative arrangements to finance their operations.
Shares in West Perth-based explorer Red Mountain Mining are trading higher after the company released a scoping study confirming low capital costs at its Batangas gold project in the Philippines.
Red Mountain Mining expects to complete by the end of the year a definitive feasibility study at its Batangas gold project in the Philippines after appointing Como Engineers to undertake the initiative.
Red Mountain Mining has withdrawn its $1.4 million rights issue after underwriter Patersons Securities terminated the agreement, as the company’s share price closed lower than the offer price of 0.8 cents for three days.
Leaner times in the junior mining and exploration sector have resulted in widespread cuts to chief executive pay, but the restraint has not been shared equally across the sector, with some actually lifting salaries.
Five Western Australian companies have sought to manage costs by cutting either salaries or board positions during the past month.
Red Mountain Mining says it will cost $22 million to bring its flagship Batangas gold project in the Philippines into production.
Ted Jacobson has retired as director of Carnarvon Petroleum. Mr Jacobson was managing director of Carnarvon Petroleum in 2005 and appointed non-executive director in 2012.
Newly appointed chief executives in WA are on substantially lower salary packages compared with recent years, a Business News survey has found.
Our board moves wrap includes Ramon Soares, Jon Dugdale, Anthony Ho, Joanne Kendrick, and David McArthur.
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