Firefly Metals

FireFly_300x200

Primary ticker: ASX:FFM
Stage of development: Exploration, Development
Primary minerals: Copper Gold
Project to promote: Green Bay Copper Gold Project, Pickle Crow Gold Project
Project location: Canada  
Website: www.fireflymetals.com.au

FireFly Metals Ltd (formerly AuTECO Minerals Ltd) (ASX:FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold project in Newfoundland, Canada. The Green Bay Copper-Gold Project currently hosts a mineral resource prepared in accordance with Canadian NI 43-101 of 39.2Mt at 2.1% for 811,000t CuEq. The Company has a clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program.

Cash: ~A$95M Approximate cash position as at 20 September 2024 plus proceeds of placement and the SPP announced to ASX on 26 September 2024
Debt: NIL

Major shareholders:
BlackRock Investment Management (UK) Ltd – 13.5%
Extract Advisors LLC – 4.0%
Cbus Super – 4.0%
Franklin Advisers, Inc. – 2.7%
Management Ownership – 13%

Financials

Management Profile

Darren Cooke, CEO
Darren is a geologist with 28 years’ experience having previously held senior positions in global majors including Barrick Gold, Newmont and Northern Star Resources.
Darren has had extensive gold and copper experience in Australia and North America spanning regional and near mine exploration, operational geology, long-term planning and corporate development.
He has a strong track record of discovery and delivering Resource growth during his time working at world-class deposits such as the Golden Mile Kalgoorlie (KCGM), Callie (Newmont), Kundana, Kanowna Belle (Northern Star / Barrick) and the Pogo deposit in Alaska (Northern Star).
Darren spent 6 years as part of the Business Development team at Northern Star Resources that completed significant M&A transactions that have seen the company transform from a junior into a global gold company.

 

Kevin Tomlinson, Non-Executive Director
Mr Tomlinson has more than three decades’ experience in major discoveries, exploration and resource growth, mine development and financing of mining projects globally. He has also played leading roles in many successful mergers and acquisitions in multiple jurisdictions including Canada, Australia, Africa and the UK.
Mr Tomlinson was previously Managing Director of Investment Banking at Westwind Partners and Stifel Nicolaus (2006-2012), raising significant equity and providing M&A corporate advice, and is the former Chair of ASX/TSX-listed Cardinal Resources Ltd, leading its C$587 million sale to Shandong Gold. He was also a Non-Executive Director at Churchill Resources Inc and Centamin PLC, which discovered and built a significant gold mine in Egypt.
Mr Tomlinson is a Fellow of the Chartered Institute of Securities and Investment (CISI), a Fellow of the Institute of Directors and a Liveryman of the Worshipful Company of International Bankers (UK).

What is your rationale for taking part in 121 Mining Investment?

We are looking to increase our investment profile in Europe, having already gained substantial institutional backing from Australia and North America. We are well funded and do not have any planned raises, but should have a new listing on the TSX around the time of the conference.

What recent news would you like to highlight to investors attending?

Significant Resource update due out before the end of October 2024

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Resource update and further in-mine drilling results, commencement of regional exploration drilling

6 Months:
Second resource update, progress upscaled operational studies

12 Months:
Significant resource update, Pre-feasibility study on upscaled operation, regional exploration discovery results

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

– Orebody / Infrastructure right size – We do not know the extent of the orebody, so working out the optimal size of the infrastructure is ongoing. Overcoming this issue by accelerating extensional drilling with 4 underground rigs
– Macro copper market fluctuations (price) – overcome by assessing the economics at rates well below spot price, ensuring the project is robust

What do you think makes your company such a compelling investment?

1) High grade copper and gold deposit with significant scale
2) Large resource that is rapidly growing at low cost
3) Short term pathway to significant copper production (+$250M of infrastructure including accessible UG development)
4) Exceptional regional discovery potential
5) Premier tier one mining jurisdiction (Newfoundland)
6) Marco long-term copper supply-demand landscape

What are the top 3 key investor takeaways?

1) Large scale high-grade Copper Gold orebody with significant growth potential
2) Pathway to near-term copper production
3) Management team with vast experience building mines and generating returns for shareholders