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DGR GLOBAL LIMITED — Capital/Financing Update 2018
Sep 5, 2018
64771_rns_2018-09-05_e7c23cf7-6390-4835-96ea-019776886ab9.pdf
Capital/Financing Update
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DGR Global Limited
6 September 2018
DGR Business Update
The Board of Directors of international resource company creator, DGR Global Limited ( the Company; ASX: DGR ), is pleased to provide an update with regard to various recent developments within the Company’s range of sponsored listed entities.
Interested shareholders are encouraged to read the full releases of each particular listed company mentioned below, as compliance with the ASX Listing Rules restricts what can be detailed by DGR Global in this announcement. Shareholders are also reminded that updates, photos and articles of relevance for each company are available via each company’s website, Twitter account, and by registering to receive news directly via our electronic mail‐out service, available for each company on their respective websites (refer below).
SolGold plc | LSE / TSX: SOLG (12% owned by DGR)
Overnight in London, SolGold announced that BHP Billiton Holdings Limited had acquired an interest in 103,125,000 ordinary shares of 1 penny each in the capital of the Company, which represents approximately 6.1% of SolGold’s issued share capital. The shares were acquired from Guyana Goldfields Inc at a 20% premium to the 20 day VWAP for trading in SolGold’s shares on the London Stock Exchange.
Copies of all of SolGold’s market releases are available on the Company’s website: www.solgold.com.au
The current value of DGR Global’s investment in SolGold is approximately $95 million.
Aus Tin Mining Limited | ASX: ANW (18.2% owned by DGR)
On 5 September 2018, Aus Tin provided the market an update in relation to its tin and cobalt projects.
The pre‐construction regulatory approvals for the Stage 1 Project at the Taronga Tin Project are progressing and Aus Tin intends to satisfy all outstanding requirements for the Lease Application 554 with the NSW Department of Planning and Environment. The NSW Dam Safety Committee advised that Aus Tin’s design for the tailings storage facility conforms to requirements and Aus Tin is now progressing the construction certificate with the Glen Innes Severn Council. Other regulatory applications in relation to the Stage 1 Project are currently being assessed and Aus Tin intends to submit the draft Mining Operations Plan (MOP) to the NSW Department of Planning and Environment upon formal grant of the Mining Lease.
Pre‐production activities at Aus Tin’s Granville East Mine are close to completion, including the construction of water management infrastructure, waste rock emplacements and crushing pads. Mining of waste rock has commenced with temporary drilling equipment ahead of the Company’s blast hole production drill which is due to be mobilised later this month. Construction of the new Tailings Storage Facility (TSF) had previously been suspended due to the wet ground conditions, with the wall of the new TSF nearly completion and is expected to resume at the earliest opportunity.
DGR Global Limited ACN 052 354 837
street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e [email protected] w www.dgrglobal.com.au
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Aus Tin has appointed a drilling contractor at its Mt Cobalt Project, with work expected to commence the first week of October, subject to weather. The program will include up to six Reverse Circulation drill holes at two previously undrilled target areas, and two Reverse Circulation diamond drill holes to target zones of high magnetic susceptibility at Pembroke and Mt Cobalt respectively. In the interim, Aus Tin expects to undertake and Induced Polarisation (IP) survey at Mt Cobalt to assess the chargeability close to the zone of high magnetic susceptibility.
Full details of this, and all other Aus Tin Mining announcements, are available on the company’s website: www.austinmining.com.au
The current value of DGR Global’s investment in AusTin is approximately $5 million.
IronRidge Resources Limited | LSE(AIM): IRR (24.3% owned by DGR)
On 28 August 2018, IronRidge Resources released high grade lithium drilling results from its Ewoyaa Project in Ghana, West Africa, highlighting the following:
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The initial assay results received for 4.180m of a total 8,090m first phase Reverse Circulation (RC) drilling programme completed at the Ewoyaa Project including the North Extension;
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Broard, high‐grade lithium mineralised zone remains open to the North Extension and North East Zone with additional drilling results pending;
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Regional exploration programmes ongoing;
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Highly supportive government; long mining history, strong diversification drive and pro‐renewable and strored energy space initiatives.
Initial drilling results represent a significant milestone for the Cape Coast Lithium portfolio, with broad, continuous and high‐grade lithium pegmatite intersections returned. Results are still pending for the North Extension and North‐East Zone where visual logging of RC drill chips indicates the presence of coarse spodumene crystal fragments within drilled pegmatite intervals. IronRidge’s Ewoyaa Project is strategically located within 1km of a bitumen highway, within close proximity of grid power, within 100km of the Takoradi deep sea port and 100km away from the capital city, Accra.
On 3 September 2018, IronRidge announced it had strengthened its management team, and secured key executives and senior managers for the next phase of the Company’s project and corporate development, which included:
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CEO Vincent Mascolo committed to a further three years, with an option for a further two years;
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Former Chief Geologist Len Kolff, appointed to Chief Operating Officer under a three year contract;
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Moctar Keita appointed as full time Côte d'Ivoire Exploration Manager;
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Iwan Williams appointed as full time Exploration Manager;
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Steve Cancio‐Newton appointed as Principal Geologist, Brisbane based.
Full details of this, and all other IronRidge announcements, are available on the Company’s website: www.ironridgeresources.com.au.
The current value of DGR Global’s investment in IronRidge is approximately $29 million.
DGR Global Limited ACN 052 354 837
street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e [email protected] w www.dgrglobal.com.au
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Dark Horse Resources Limited | ASX:DHR (17.2% owned by DGR)
On 5 September 2018, Dark Horse released an announcement regarding the exclusive acquisition of a highly prospective San Jorge Lithium Brine Project, covering the San Francisco salar and salt lake basin in the Catamarca province in Argentina. Highlights from the announcement include:
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15 granted Exploration Licences totalling 36,600 hectares over the San Fransisco salar and surrounding basin with environmental permits granted allowing immediate commencement of exploration activities;
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The nucleus of the San Fransisco salar is 7,000 hectares, which provides a sufficiently large exploration area to define a world class lithium brine deposit;
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Dark Horse has the option to earn 100% of the project for a series of staged payments over a 5 year period totalling USD4.5 million, together with annual exploration commitments totalling USD2.95 million;
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Catamarca province is very supportive of exploration activities and mining developments with companies including FMC, Galaxy, Posco and Albemarle currently exploring and/or operating;
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The San Fransisco salar lies between the significant salars of Maricunga (Chile), 3Q, Anatofalla and Hombre Muerto (the later all in Argentina).
The RC drilling programme at the Las Tapias Mine Lithium project has been put on hold pending receival, quality control and evaluation of all drill assay results. Dark Horse previously reported that this was due to the long waiting period in receiving results from the overseas laboratories. Dark Horse expects the work to be completed before the end of September and the conclusions will then be reported to the market.
Geological reconnaissance continues at Dark Horse’s El Totoral licence in San Luis Province to delineate definitive drilling targets over a suite of the more prospective spodumene bearing pegmatites, which Dark Horse expects will then be implemented when environmental permits are received from government authorities.
Dark Horse is finalising program designs for the ongoing exploration of its gold properties in Santa Cruz and Rio Negro with current work including:
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Surface exploration of the La Punta target in the Los Domos concession, which has indicated the presence of a low sulfidation epithermal gold‐silver deposit at moderate depth below. Dark Horse is considering drilling this target following the Argentine winter;
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The Cachi project is a 17,300ha lease located in the central‐western region of Santa Cruz province, Argentina. Dark Horse has prepared a comprehensive database of exploration information which has allowed it to design an aggressive exploration program including mapping, sampling, trenching and geophysics to define drill targets. The Company plans to commence this field work in the Argentine spring (September 2018);
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Dark Horse will continue exploration, entailing various field work programs, of the large suite of prospective epithermal style gold‐silver PROAR Santa Cruz properties including the Cerro Latoba suite of exploration leases in September 2018;
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An historical exploration data package is being acquired for the PROAR Rio Negro properties and will be evaluated prior to designing field exploration programs.
Full details of this, and all other Dark Horse announcements, are available on the company’s website: www.darkhorseresources.com.au.
The current value of DGR Global’s investment in Dark Horse Resources is approximately $3.3 million.
DGR Global Limited ACN 052 354 837
street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e [email protected] w www.dgrglobal.com.au
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The Board of DGR Global will continue to update the market in relation to material developments within its portfolio of sponsored companies and subsidiaries.
On behalf of the Board Karl Schlobohm Company Secretary
Electronic copies and more information are available on the Company website: www.dgrglobal.com.au
Email: [email protected]
Twitter: @DGRGlobal
For further information contact:
Mr Nicholas Mather Karl Schlobohm Managing Director Company Secretary Ph: 07 3303 0680 Ph: 07 3303 0680
About DGR Global Limited
DGR Global’s business is the creation of resource exploration development and mining companies.
The business uses the skills of a core team of talented geoscientists to identify resource projects capable of yielding world class discoveries of attractive commodities.
This is achieved through:
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The identification of commodities with a favorable 20 year price outlook.
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Geological terranes with:
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A demonstrated strong endowment for that commodity;
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An under‐explored history;
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Opportunity for the application of recently developed exploration techniques;
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Jurisdictions with improving socio‐economic and regulatory frameworks;
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Extensive available tenures.
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DGR provides initial seed funding and management support to secure assets in subsidiaries and develop these assets to more advanced funding stages. The Company has a pipeline of projects in daughter companies at various stages of emergence, and in 2015 crystalised a significant return through the sale of its 15% holding in Orbis Gold for $26million. Further development of its holdings in AIM‐listed SolGold and IronRidge Resources and ASX‐listed AusTin Mining, Dark Horse Resources and Armour Energy, and unlisted Auburn Resources, are expected over the coming years.
DGR Global has commenced an intended program of judicious dividend payments to its shareholders. The future of the dividend program will depend on circumstances from time to time. The previous resource exploration and funding activities of DGR’s key personnel underscore the opportunities provided by the DGR business model.
Get regular news from DGR Global on social media
As a valued shareholder, you can now stay up to date of forces influencing the value of your investment in DGR Global by following us on Twitter. We regularly post information about the operations of us and the DGR companies as well as what is happening in our sectors around Australia and around the world ‐ with links to documents in the media, brokers, and other authoritative sources so you can stay up to date. As well, our posts on Twitter will alert you to our latest ASX announcements. Join the hundreds who follow us on Twitter @DGRGlobal . We've also added to our website a corporate newsroom with monthly news flow concerning DGR and the DGR sponsored companies. Located under News Bank in the investor section of the DGR website: www.dgrglobal.com.au
DGR Global Limited ACN 052 354 837
street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e [email protected] w www.dgrglobal.com.au