Aurumin acquires the Sandstone Gold Project with a resource of 22 million tonnes at 1.1 g/t gold for 748,300 ounces, adding to the company’s four existing projects
Aurumin Ltd (ASX:AUN) is listed on the Australian Stock Exchange with two very attractive projects in the Southern Cross Goldfields, an area which has a history of high-grade resource production.
Coffee with Samso Episode 125 is with Brad Valiukas, General Manager of Aurumin.
The acquisition of 750,000 ounces of gold is a clear indication of Arumin’s intention.
I felt that Brad Valiukas and his team were focused on their mining strategy. This movement confirmed my thoughts.
The strategy was quite simple. Acquire historic mining projects that have growth potential. Drill. And develop.
When I hear of companies with this strategy, I notice that many use it as a lead for a story, but few actually intend to make it happen.
The first Mt Dimer and Mt Palmer and Johnson Range are the company’s first fundamental projects. However, with this acquisition, the Sandstone project is a step forward.
One of the key aspects of the project is the 500,000 ounces of gold resources that are intact and underground. In my opinion, this is a benefit that cannot be ignored. We’re not talking about a sprint to the finish here. If anything, this is going to be a marathon, and from the sound of our conversation, there are more surprises to come.
00:55 Brad discusses Sandstone acquisition
01:40 The prospectivity of Sandstone and how Aurumin is pitching the story now.
03:15 How do old projects work alongside the new project?
04:53 Key Sandstone Projects.
07:06 Is there a Mill story?
09:03 Neighbors find new gold, is it positive for Aurumin?
11:01 How do you explain the story of poor quality to investors?
13:17 Working the ounces.
2:40 PM Underground is a new play – Renovating is not always a good thing.
15:08 What does Brad think about potential?
4:05 p.m. The ore is recoverable.
16:39 Does the market like this gold space?
18:59 Interest for transaction.
19:53 What’s next?
20:48 What’s going on in other projects?
22:31 Are your other projects a preview of what’s to come with Sandstone?
23:33 Satellite projects will make Mill’s story work.
24:34 A communal mill will work for all players.
About Brad Valiukas – Managing Director
BEng (Mining), GradCert (Econ), AusIMM Member
Experienced mining engineer and executive with over 20 years of operational, management and executive experience spanning underground and surface operations across multiple commodities in Australia and overseas.
Brad’s most recent position was Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals (ASX:FML), COO at ABM Resources and held senior management positions at Mincor Resources.
About Aurumin Limited (ASX: AUN)
Aurumin Limited (ACN 639 427 099) (Aurumin gold Company) is an Australian company incorporated on February 28, 2020 in Western Australia as a mineral exploration company to enable the reorganization of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer).
In particular, the Company was formed to enable the restructuring of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and to further consolidate additional properties, and to advance such gold exploration projects in the Southern Cross areas and Kalgoorlie. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into 3 other property acquisition agreements and has asked for other properties so that he now has an interest in 29 properties spread over 4 projects.
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