Riding on the back of successful events last year, the Investor Insight Rooftop Series has returned to Bob’s Bar in 2019 with another diverse trio of guest speakers putting their companies on display.
This week, a gathering of fund managers, brokers, analysts and journalists were treated to snapshot presentations by the leaders of Doray Minerals (ASX: DRM), VRX Silica (ASX: VRX) and De Grey Mining (ASX: DEG), under the theme of “success in our backyard”.
Doray is in the midst of a major $500 million merger with fellow gold miner Silver Lake Resources; a deal which will bring together Doray’s Deflector mine and Silver Lake’s Mt Monger operations which are expected to net a combined 240,000 ounces of gold sales in FY19.
The deal was announced in late 2018, with independent expert BDO last month declaring the friendly merger as ‘fair and reasonable’ for both the gold miners’ shareholders.
VRX Silica has been making headlines over the past three months, having revealed maiden Mineral Resource estimates for its Arrowsmith and Muchea silica sands projects north of Perth, along with the receipt of mining lease applications for the assets.
Arrowsmith and Muchea have been proven to contain glass-making quality sand, that the company expects will be in high demand by the Asia-Pacific markets for use in the production of a wide array of products including glass bottles, fiberglass, ultra-clear glass and solar panels to name just a few.
The company has also recently picked up a third project; the Boyatup silica sands project in southern WA, whilst further drilling work cross its portfolio of projects is expected to begin this month to infill, extend and upgrade the JORC status for each of the existing Mineral Resources.
De Grey, meanwhile, brought an update on its near-term development gold project, aptly named the Pilbara gold project due to its location in the mid-west.
The project has an existing Mineral Resource of 1.4 million ounces of gold, with the company planning to more than double that to 3Moz.
A pre-feasibility study on Pilbara is currently in development and is expected to outline an economic 2 million tonne per annum operation.
Keep an eye out for an invitation to our next Investor Insight Rooftop Event, which is scheduled to be held on March 14.