Awalé Resources
Primary ticker: TSXV:ARIC
Stage of development: Exploration
Primary minerals: Gold and Copper
Project to promote: Odienné
Project location: Côte d’lvoire
Website: www.awaleresources.com
Corporate Presentation: Click here
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Successful exploration activities are ongoing in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project, covering 2,489 sq. km across seven permits. This includes 796 sq. km in two permits held under the Awalé-Newmont Joint Venture, managed by Awalé, and funded by Newmont.
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the joint venture and has recently commenced exploration on its 100%-owned properties following a C$11.5M capital raise in April 2024.
The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Cash: CAD 10M
Debt: NIL
Major shareholders:
Newmont – 11.2%
Orecap – 8.5%
Institutional – 33.7%
HNW and Retail – 41.0%
Management ownership – 5.6%
Financials
Management Profile
Andrew Chubb – CEO
Mr. Chubb is an Economic Geologist with more than 20 years of exploration and mining experience. He has well-developed technical and operational skills from 20 years in technical, operational, consulting, and advisory roles in the mining and exploration industry across multiple continents including Australia, Africa, and Europe. He has led large teams from exploration through to feasibility including the Mantra Resources Mkuju Project in Tanzania prior to takeover by ARMZ/Uranium One for AUD1.02B. Andrew has a BSc with honours from the University of New England in Australia, is a Member of the Australian Institute of Geoscientists and the Society of Economic Geologists.
What is your rationale for taking part in 121 Mining Investment?
We intend to update existing shareholders and introduce our story to new investors, as we highlight recent developments and lay out the potential of our projects.
What recent news would you like to highlight to investors attending?
December 19, 2024 – Awalé Expands BBM Trend to Over 15km with Additional Newly Defined Targets Boba and Fett.
December 5, 2024 – Awalé Commences 4000M Diamond Drilling Program at the BBM and Charger Zones, Odienné Project.
November 18, 2024 – Awalé Hits 2.7 g/t Gold Eq. over 27 Metres at the BBM Zone, Odienné Project.
November 11, 2024 – Awalé Hits 14.7 g/t Gold over 59 Metres at the Charger Zone, Odienné Project.
September 9, 2024 – Awalé Hits Multiple High-Grade Intercepts at the BBM Zone, Odienné Project.
July 31, 2024 – Awalé Hits 20 g/t Gold over 29m at the Charger Prospect, Odienné Project.
March 25, 2024 – Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Initiate grassroots exploration on 100%-owned Awalé properties – the first step in proving up a district-scale system. Simultaneously, continue to manage joint venture exploration and continue to de-risk joint venture discoveries.
6 Months:
Discovery drilling on 100%-owned Awalé properties and advance towards resource development drilling on the joint venture properties.
12 Months:
Maiden resource estimate (MRE) for the joint venture properties, along with pipeline drilling on new targets.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Market sentiment continues to be a challenge for the junior mineral exploration sector. At Awalé, we address this by remaining focused on executing our strategic plan. Our strong position is supported by a healthy balance sheet and a robust partnership with Newmont, which together provide the stability and resources needed to navigate these market conditions effectively.
What do you think makes your company such a compelling investment?
Over the past two years, we have been applying a new IOCG (Iron Oxide Copper Gold) concept in a new district of a fertile West African province – we have since progressed the Odienné Project with four significant discoveries and potential for new discoveries on 100%-owned properties. With a healthy balance sheet and robust joint venture partner, we are well placed to make a shift from a discovery phase to a resource development phase.
What are the top 3 key investor takeaways?
1 – Four significant discoveries and proving the district scale potential with discoveries on our surrounding 100%-owned properties.
2 – Great technical team with a history of success.
3 – Strong balance sheet and a robust partnership with Newmont.