Diggers & Dealers Mining Forum 2022 is done and dusted with record crowds attending the major mining conference despite Kalgoorlie’s biting winter cold.
This year's keynote speaker was Dr Dambisa Moyo, a co-principal of Versaca Investments – a family office, focused on growth investing globally. Dr Moyo serves on a number of global corporate boards including: 3M Corporation, Chevron, and Conde Nast, as well as, the Oxford University Endowment investment committee. Her areas of interest are in capital allocation, risk, and ESG matters.
ESG was a major theme throughout.
Battery metals and rare earths were also strong themes across the three-day conference with many companies flaunting their green credentials.
There was also a consistent view that the gold price is set for a period of upward momentum on the back of global economic uncertainty.
Let’s look at some of the highlights from the conference:
Tietto Minerals Ltd (ASX:TIE) executive director Mark Strizek said that his company is “in this phase of building a gold mine and we are on track to be West Africa’s next gold mine and producer.”
Last month, the company delivered more high-grade gold hits including 12 metres at 20.96 g/t in an infill drilling program at AG Core within the 3.45 million-ounce Abujar Gold Project in Côte d’Ivoire.
Tietto looks set to produce 260,000 ounces of gold in 2023 by advancing its dual strategy of ‘drill and build’.
Core Lithium Ltd (ASX:CXO) chief financial officer Simon Iacopetta presented the company’s recently upgraded resource at its Finniss Lithium Project near Darwin.
The Finniss resource now sits at 18.9 million tonnes at 1.32% lithium oxide, with a measured and indicated category of 13.3 million tonnes at 1.4% lithium oxide – a 61% increase to the category.
Core Lithium remains on track to ship its first spodumene concentrate by the end of this year from Finniss.
Bellevue Gold Ltd (ASX:BGL) chief executive officer Darren Stralow told delegates that: “We have over 3 million ounces of high-grade resource, over 1.3 million ounces of reserves and a 10 year mine life at a 6 g/t head grade” at its namesake project in WA.
Stralow added: “It is a mine that would produce 200,000 ounces per annum at an all-in sustaining cost of $1,000-$1,100 ounces per ounce.
“This will generate significant free cash flow margins of about $250 million per annum and as Paul Keating famously said – that’s a beautiful set of numbers”
Pantoro Ltd (ASX:PNR) managing director Paul Cmrlec said: “We have got some great production assets, some great development assets and some great exploration assets.”
The Western Australia based miner has been producing gold at Halls Creek since 2015 and production at the Norseman Gold Project (50% Pantoro) is set to commence in Q3 2022.
The resource at the Green Lantern deposit, within the Norseman Gold Project, was recently upgraded to 10 million tonnes at 1.2 g/t gold for 395,000 ounces with 76% in the indicated category.
New Century Resources Ltd (ASX:NCZ) managing director Patrick Walta told delegates that the company’s “valuation is underpinned by actual cash flow.”
The company recently delivered strong production results from its Century Mine in Queensland, with 31,699 tonnes of zinc metal produced during the June 2022 quarter, up 14% from the March quarter.
New Century has achieved full-year revised production guidance in the mid-range, with 118,108 tonnes of zinc metal produced.
New Century Resources presentation
Australian Vanadium Ltd (ASX:AVL) managing director Vincent Algar explained that the company’s namesake project near Meekatharra in WA is capable of supplying up to 5% of the world’s vanadium.
AVL is targeting final investment decision in the December quarter, with production slated for 2024.
Algar said that the project’s logistics were unlike any other vanadium producer in the world.
The coastal location of the crushing, milling and beneficiation (CMB) plant was a key strategic differentiator of the project, allowing the company to utilise gas, road and port infrastructure of the world-class mining region of mid-western Western Australia.
Australian Vanadium presentation
Fenix Resources Ltd (ASX:FEX) chair John Welborn said that “we have got one of the highest-grade iron ore deposits certainly in Australia and possibly the world” referring to its Iron Ridge project in Western Australia’s Mid-West.
Fenix started sales from Iron Ridge 17 months ago and the company’s steady state production has generated solid cash flow of more than A$127 million to date.
Other notable presenters at the conference included:
Galena Mining Ltd (ASX:G1A) managing director and CEO Tony James - presentation
Antipa Minerals Ltd (ASX:AZY) managing director Roger Mason - presentation
Red 5 Ltd (ASX:RED) managing director Mark Williams - presentation
Element 25 Ltd (ASX:E25) managing director Justin Brown- presentation
Aeris Resources Ltd (ASX:AIS) executive chairman André Labuschagne - presentation
Azure Minerals Ltd (ASX:AZS) managing director Tony Rovira - presentation
Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF) managing director and CEO Alex Dorsch - presentation
Great Boulder Resources Ltd (ASX:GBR) managing director Andrew Paterson - presentation
Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) managing director Rob Waugh - presentation
Predictive Discovery Ltd (ASX:PDI) managing director Andrew Pardey - presentation
Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) managing director and CEO Peter Harold - presentation