Aurumin Limited
Financials:
Primary ticker: ASX:AUN
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Sandstone Gold Project
Project location: Australia
Website: www.aurumin.com.au
Aurumin Limited is an ASX-listed mineral exploration company focused on two project areas in Western Australia.
The Sandstone Gold Operations were cornerstoned by the acquisition of the Central Sandstone Project by the Company in early 2022.
• The Central Sandstone Project comprises a 784,000 ounce gold mineral resource and significant project infrastructure that the Company aims to use to support a gold mining operation in the future.
• The Company’s Johnson Range Project has a Mineral Resource of 64,700 ounces at a grade of 2.51g/t Au, located midway between Southern Cross and Sandstone.
In addition to the Sandstone Gold Operations, the Company has a significant landholding at its Southern Cross Operations, including two historical high-grade production centres, Mt Dimer and Mt Palmer.
• The Mt Dimer Project produced over 125,000 ounces of gold from open pit and underground production of approximately 600,000 tonnes @ 6.4 g/t, and has a substantial tenure footprint.
• The historical Mt Palmer Project produced via open pit and underground methods, generating approximately 158,000 ounces of gold at an average grade of 15.9 g/t.
The Company is actively exploring its tenements and pursuing further acquisitions that complement its existing focus and create additional Shareholder value.
Cash: AUD$2.2M
Debt: AUD$6.4M
Major shareholders:
Middle Island Resources Limited – 25.1%
Heelmo Holdings Pty Ltd – 10.5%
Citicorp Nominees Pty Limited – 5.9%
Bradley Valiukas – 4.5%
Grant Evans and Mary-Louise Davidson – 3.5%
Management Ownership – 17%
Management Profile
Brad Valiuka – Managing Director
Brad Valiukas is the founding Managing Director and substantial shareholder of Aurumin Limited where he leads the company’s team applying first class technical expertise to their exploration and development activities. A mining engineer with 25 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally.
Prior to founding Aurumin, Brad held the position of Manager – Technical Services for Northern Star Limited where he supervised Ore Reserve growth from 1.5Moz (2015) to 4.0Moz (2018), 5.4Moz (2019) with the addition of Pogo, and multiple capital growth and operational activities.
Previously, he held COO roles at Focus Minerals, ABM Resources and senior roles at Mincor Resources. He has been involved in multiple project acquisitions and personally led several new mine start-ups and project rectifications.
What is your rationale for taking part in 121 Mining Investment?
Our aim for the 121 series is to introduce potential investors to the Company, its assets and management team.
As well as raising awareness of the Company, we are seeking investors that will provide on market support, potential deal flow as well as equity/project/debt financing for potential acquisitions.
What recent news would you like to highlight to investors attending?
Recent activity at our Central Sandstone Project includes a drill result of 344m @ 1.29g/t Au plus the identification of multiple new targets. Further updates will be provided at the conference.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Continue to demonstrate strong progression at Sandstone. Receipt of all assays from recent drilling, undertake the next round of target identification work, including on new tenure, and release plans for follow up drilling. Further target generation at Mt Dimer.
6 Months:
Our goal for the next six months is to increase market visibility of the high quality, projects in our Western Australian portfolio with continued exploration and expansion activity. We expect to release an updated resource for the Two Mile Hill and Shillington deposits based on recent drilling.
12 Months:
Over the course of the next 12 months, we plan to progress the existing projects in the portfolio to the point where we can discuss development options.
Concurrently to advancing the existing projects, we are actively assessing acquisition opportunities and within 12 months are looking to have completed on a second accretive transaction.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
As with all exploration companies, the discovery and identification of mineralisation within the projects is a key risk. The Company is overcoming this risk by utilising experienced geologists and high-quality data to focus the exploration programs into areas with higher probabilities of success.
What do you think makes your company such a compelling investment?
Aurumin is aggressively exploring and advancing two gold exploration and development projects in Western Australia and has a Board and management team with demonstrated skill and experience as explorers, developers and operators. The Company aims to leverage the team’s experience to develop its projects and look for potential acquisitions where they can add value.
What are the top 3 key investor takeaways?
1. Two Australian gold projects – Aurumin has two advanced projects in Western Australia. We have a substantial starting resource base of 849koz Au at our Sandstone Operations, along with significant infrastructure already in place, and high-grade open pit potential at our Southern Cross Operations.
The Company has built and continues to build substantial tenure positions around these historical production centres and has an active exploration programme focussed on development.
2. Experienced management team to drive shareholder value – The Company has a Board and management team with proven exploration, development and operations skills and experience to support the development of its own projects such as Mt Dimer which has demonstrated high-grade deposits.
3. Aggressive growth plans – The Company has ambitious plans for growth, through accretive acquisitions to complement development of existing projects. The Company is well positioned with the right expertise to add and extract value to/from acquisitions.