Positive news for and from the Australian gold explorer Classic Minerals (WKN A0NA2L / AS CLZ)! As reported by the company, Western Areas Ltd has withdrawn its objection to the registration of the MLA 74/249 property application. Which means Classic can now proceed with planning for gold production on the Kat Gap project!
Western Areas originally filed the appeal because of potential problems with a fresh water pipeline that runs under Classic properties and supplies some Western operations. A study on the subject has now been completed and the unanimous conclusion that Classic’s operations will not affect the management or supply of Western Area.
This is a very positive development, with which Classic, according to its own statement, is taking another step closer to generating cash flow in 2021. With the withdrawal of the objection, further milestones can now follow on the way to production, which could also affect the valuation of the market for Classic Minerals. This includes:
– Application for access to the mining area – now closed by withdrawing the objection.
– Start of negotiations on the native title (expected conclusion on December 26, 2020)
– Consent to approval of the native title
– Approval of the mining lease MLA 74/249
– Submission of the mining plan
Classic is about to finalize all of the studies and documentation needed to submit the mining plan. This should take place immediately as soon as the approval of the mining lease MLA 74/249 has been granted.
In connection with these initiatives, the company has already begun a pre-feasibility study on Kat Gap, which is expected to show the project can be brought into production quickly – using a low-cost mining method that Classic allows supposed to generate cash flow quickly!
Needless to say, this message is of great importance to Classic. The news was also very well received in Australia. At Kat Gap, Classic has so far defined an inferred resource of 975,722 tonnes at 2.96 g / t gold and thus 92,856 ounces, but has recently been able to present promising exploration results – e.g. 2 meters with 116 g / t gold and 4 meters with 76 g / t gold! So it is no wonder that the company sees potential for significant, sustained exploration success and, as a result, significant growth in resources and assumes that it will be able to start successful production.
Subscribe to our free newsletter: https://goldinvest.de/newsletter
Follow us on Twitter: https://twitter.com/GOLDINVEST_de
In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that clients, partners, authors and / or employees of GOLDINVEST Consulting GmbH can or do hold shares in Classic Minerals and that there is therefore a conflict of interest. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. In addition, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party in the issuer’s warehouse (Classic Minerals), which creates a conflict of interest, especially since this third party provides GOLDINVEST Consulting GmbH with payment for reporting on Classic Minerals rewarded. This third party can also hold, sell or buy shares in the issuer and would benefit from an increase in the price of Classic Minerals shares. This is another conflict of interest.
PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section.
PERSONAL-FINANCIAL.COM AG is not responsible for content that is recognizable by third parties in the “News” area
This website has been discontinued and does not adopt it as its own. These contents are in particular through
a corresponding “from” mark below the article heading and / or through the link
“To read the full article, please click here.” responsible for
this content is solely the named third party.