All tagged Strandline Resources ASX:STA
Strandline Resources (ASX:STA) has increased the Fungoni Mineral Resource in Tanzania, with 37% increase in tonnage and 27% increase in contained Heavy Mineral. The new Resource includes extension drilling from the Fungoni NW zone. Strandline will incorporate the larger Resource into updated mining and processing plans as part of the Fungoni Feasibility Study, due for completion in early H2.
Strandline Resources (ASX:STA) had a solid March quarter, focused on progressing the Fungoni Feasibility Study, exploration at Tanga and development of the Rio JV (post qtr). The Company is working towards a Final Investment Decision for Fungoni early in H2. The Company will be presenting and meeting investors at the 121 Conference in London next week.
Strandline Resources (ASX:STA) has earned an upgrade to its price target from Argonaut following the $14m Rio JV announced earlier in the week. Argonaut has maintained its Spec Buy rating on the stock and upgraded the price target to 3.0 cents per share. Strandline's last share price was 0.8 cents per share.
Strandline Resources (ASX:STA) has signed an Earn-in and Joint Venture Agreement worth up to US$10.75 million with Rio Tinto Mining and Exploration Limited, a member of the Rio Tinto group. Under the agreement, Rio Tinto will have the option to spend up to US$9 million on project expenditure to earn up to a 75 percent interest in Strandline's southern Tanzanian portfolio of heavy mineral sands tenements, plus cash payments to Strandline totaling up to US$1.75 million.
Strandline Resources (ASX:STA) has announced strong progress on the Fungoni Mineral Sands Feasibility Study in Tanzania. Project approvals are progressing, the mining study is underway and discussions have commenced with potential offtake partners. Strandline is aiming for a Final Investment Decision on Fungoni in Q3 2017.
Strandline Resources (ASX:STA) has announced that Torrens Mining, of which it is an 8.6% shareholder, has entered into a farm-in and JV agreement with Gindalbie Minerals over the Mt Gunson Copper-Cobalt Project in South Australia. Strandline is in line to receive a further $1m if a decision to mine is made, with this converting into $250k plus a 2% NSR if the assets are vended into or IPOd into an ASX-listed vehicle before the decision to mine.
Argonaut has initiated research coverage on Strandline Resources (ASX:STA) with a Speculative Buy recommendation and a Price Target of 2.8 cents per share. Argonaut analysts Matt Keane and James Wilson noted the three prong appeal that Strandline offers investors. Firstly, near term production potential from Fungoni, secondly, potential for a large scale mineral sands resources from the Tanga Hub (northern tenements) and other areas, and finally, corporate appeal from producers looking to acquire a dominant position in Tanzania.
Strandline Resources (ASX:STA) announced new heavy mineral sands (HMS) discoveries and extensions which reaffirm the scale potential and commerciality of its tenement portfolio in the Tanga region of Tanzania. Aircore drilling results confirmed the discovery of multiple new higher grade deposits at the Tajiri and Pangani-Tongoni tenements and showed potential to extend the existing Tajiri Mineral Resources.
Strandline Resources (ASX:STA) has picked up the pace on its Tanzanian mineral sands portfolio, with new drilling results, upgraded resources and progression of the Fungoni Feasibility Study highlights for the December quarter. The Company is aiming towards a Final Investment Decision in Q3 2017 with a Scoping Study for a Tanga Hub Operation also to commence in 2017.
Strandline Resources (ASX:STA) has rmaped up the Definitive Feasibility Study for the Fungoni Mineral Sands Project in Tanzania. Following a 45% increase in Mineral Resources, AMC Consultants have commenced a mining study, Allied Mineral Laboratories are managing a metallurgical program and GR Engineering is working on an engineering design concept. Argonaut Securities has been appointed to assist with financing options for Fungoni.