Aurumin Ltd (ASX:AUN) listed on the Australian Stock Exchange with two very interesting projects in the Southern Cross Goldfields, a region that has a history of producing high-grade resources.
Coffee with Samso Episode 125 is with Brad Valiukas, Managing Director of Aurumin.
The acquisition of 750,000 ounces of gold is a clear indication of the intent of Aurumin.
I felt that Brad Valiukas and his team were focused on their mining strategy. This move has confirmed my thoughts.
The strategy was pretty straightforward. Acquire historical mining projects that have potential for growth. Drill. And develop.
When I hear companies with this strategy, I notice that many use it as their lead for a story, but few actually have the intent to make it happen.
The initial Mt Dimer and Mt Palmer and Johnson Range are initial cornerstone projects for the company. However, with this acquisition, the Sandstone project is a step up.
One of the key aspects of the project is the 500,000 ounces of gold resources which is untouched and underground. In my opinion, this is an upside that cannot be ignored. We're not talking about a sprint to the finish here. If anything, this is going to be a marathon, and by the sound of our conversation, there are more surprises coming.
Chapters:
00:00 Start
00:25 Introduction
00:55 Brad discuss Sandstone acquisition
01:40 The prospectivity of the Sandstone and how Aurumin pitches the story now.
03:15 How do the older projects work alongside the new project?
04:53 Key projects of Sandstone.
07:06 Is there a Mill story?
09:03 Neighbours are finding new gold, is this positive for Aurumin?
11:01 How do you explain the low grade story to investors?
13:17 Making the ounces work.
14:40 Underground is a new play - Renovation is not always a good thing.
15:08 What are Brad's thoughts on the potential?
16:05 The ore is recoverable.
16:39 Does the market like this gold space?
18:59 Interest for transaction.
19:53 What are the news coming up?
20:48 What is happening in the other projects?
22:31 Are your other projects a preview to what will come with Sandstone?
23:33 Satellite projects will make the Mill story work.
24:34 A communal Mill will work for all players.
25:52 Conclusion
PODCAST
About Brad Valiukas - Managing Director
BEng (Mining), GradCert (Econ), Member AusIMM
Mining Engineer and experienced executive with over 20 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally.
Brad's most recent position is that of Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals (ASX:FML), COO at ABM Resources and held senior roles at Mincor Resources.
About Aurumin Limited (ASX: AUN)
Aurumin Limited (ACN 639 427 099) (Aurumin or Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to allow the reorganisation of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer).
In particular, the Company was established to enable the restructure of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and further consolidate additional tenements, and to progress these gold exploration projects in the Southern Cross and Kalgoorlie regions. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into a further 3 tenement acquisition agreements and applied for further tenements such that it now has an interest in 29 tenements across 4 projects.
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