MetalsGrove Mining
Financials:
Primary ticker: ASX:MGA
Stage of development: Exploration
Primary minerals: Lithium, Rare Earth
Project to promote: Arunta, Upper Coondina
Project location: Australia
Website: metalsgrove.com.au
Lithium, Rare Earth, Base Metal and Manganese portfolio in the tier-1 mining jurisdictions of Western Australia and Northern Territory.
Upper Coondina–WA (MGA 100%) lithium, located in the infrastructure rich Pilbara, excellent access to service. Maiden drilling completed 4,200m RC.
Bruce–NT (MGA 100%) Rare Earth, well connected to existing infrastructure.
2,400m Maiden RC drilling completed, high grade TREO: 0.70%.
Edwards Creek-NT (MGA 100%) copper-gold, historical Drilling intersected high grade copper mineralisation 4m @ 2.25% Cu. Newly discovered malachite-stained ironstone unit returned a maximum value of 0.81% Cu. 450m Maiden RC drilling completed.
Box Hole-NT (MGA 100%) base metal, large tonnage base metal project, 7km strike known mineralisation, historical drilling intersected high grade zinc 13m @ 2.65% Zn, several mineralised outcrops over 12,000m historical drilling.
Woodie Woodie North-WA (MGA 100%) Manganese, well defined walk-up drilling targets and well connected to existing mining infrastructure. Surface sampling has returned several highly anomalous manganese, assays up to 52% Mn.
Cash: AUD$3.1M
Debt: NIL
Major shareholders:
OreMin – 11.60%
Mrs Hui An – 10.40%
Bright Element – 11.65%
Fountain Stream – 9.50%
Catalina Resources – 9.00%
Management Profile
Mr. Sean Sivasamy – Managing Director and CEO
A skilled mining professional with a Master’s Degree in Geology with more than 25 years of global experience.
He has held Director and Senior Management roles in Tambourah Metals Ltd (ASX:TMB),
Pilgangoora Minerals, Aditya Birla Minerals (ASX:ABY), OreMin Consultants and other roles within large, medium and junior mining companies in Australia, Africa, India and South East Asia.
In his career has identified a gold resource in Victoria which eventually had estimated gold deposits of circa 1m ounces and discovered a copper sulphide deposit in Western Australia. He also identified 4 copper deposits in Queensland for further exploration and mining.
Mr. Haidong Chi – Non-Executive Director
Extensive experience in the commodity trading markets for the past 20 years. He also holds a Master’s degree in Business Administration (MBA) from Peking University.
One of the very early co-founders of Kimberley Metals Group and KMG Mining Pty Ltd, he has been Managing Director of the company’s business operations.
Vice President of US Capital Holdings Group, a US based private equity investment company that specialises in assisting Chinese companies gain access to international capital markets.
What recent news would you like to highlight to investors attending?
HIGH-GRADE CARBONATITE RARE EARTH (REE) DISCOVERY AT ARUNTA PROJECT-NT-ASX 14 August 2023.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Second phase follow up drilling
6 Months:
Resource development drilling
12 Months:
Scoping study and test work.
What are the top 3 key investor takeaways?
Advanced exploration projects.
world class mining infrastructure, Tier-1 mining jurisdictions.
Advancing rare earth project, high grade TREO intercepts.