Recent Insider Transactions Derivative • May 16
Chairman exercised options to buy AU$1.0m worth of stock. On the 12th of May, Peter Cook exercised options to buy 2m shares at a strike price of around AU$0.25, costing a total of AU$502k. This transaction amounted to 110% of their direct individual holding at the time of the trade. Since June 2022, Peter's direct individual holding has decreased from 1.82m shares to . This was the only transaction from an insider over the last 12 months. Anuncio • May 06
Breaker Resources NL Announces Board Changes Breaker Resources NL announced Board changes relating to Ramelius Resources Limited reaching a controlling interest above 50.1% of Breaker's issued share capital, pursuant to the recommended takeover Offer by Ramelius announced on 20 March 2023 (the Offer). Non-Executive Chairman Peter Cook and Executive Director and CEO Sam Smith will remain on the Breaker Board to manage the interests of minority Breaker shareholders until Ramelius reach compulsory acquisition of the Company (which includes a 90% relevant interest in Breaker) or the Offer period expires. Lisa Wynne will also continue as CFO and joint Company Secretary. Breaker announced the Resignations from: Linton Putland as Non-Executive; Director; Mike Kitney as Non-Executive Director; Mark Edwards as Non-Executive Director; and Eric Vincent as Non-Executive Director. Breaker announced the appointment of Mark Zeptner, BEng (Hons) Mining, MAusIMM, MAICD, as Non-Executive Director. Mr. Zeptner is a mining engineer and is the Managing Director of Ramelius Resources Ltd. He was educated at the Western Australian School of Mines in Kalgoorlie and has more than 30 years' experience including senior operational and management positions with WMC and Gold Fields Limited at their gold and nickel assets in Australia and offshore. He joined Ramelius as Chief Operating Officer in March 2012, took up the reins as Chief Executive Officer in June 2014 and was appointed Managing Director in July 2015. Tim Manners - Non-Executive Director, BBus (Accounting), FCA, AGIA, MAICD, Mr. Manners is a finance professional with over 25 years' experience in accounting, corporate finance and financial management functions in the resources industry. Mr. Manners has been involved in exploration, developing and producing companies both in Australia and overseas. Mr. Manners has held the senior financial positions in companies within the precious, base and bulk commodities sectors, including Gold Road Resources Ltd, Phoenix Gold Ltd, Bathurst Resources Ltd. and Perilya Ltd. Mr. Manners joined Ramelius Resources Limited in July 2017 and is a Fellow of the Institute of Chartered Accountants in Australia and New Zealand. Alan Thom as Non-Executive Director, BEng(Hons)(Mining), GDipAppFin, GradDipBus, MAusIMM, FFin, GAICD. Alan is a mining engineer with over 25 years of experience as a mining engineer, senior manager, executive and director of resource projects from concept through to bankable feasibility, development and operation. He has extensive experience as a director of resource companies on both the ASX and AIM exchanges gaining valuable experience in acquisitions, operations, business development and financing. Alan holds a Bachelor of Engineering (Hons)(Mining) from the WA School of Mines, a WA First Class Mine Managers Certificate and additional postgraduate qualifications in Finance and Business. He is also a Member of AusIMM and a Fellow of FINSIA and is a Graduate of the AICD. Richard Jones as Joint Company Secretary, LLB, FINSIA (Grad Dip), BA (Hons) Pol Sci/Econs. Mr. Jones joined Ramelius in October 2018. He has more than 20 years' experience as a corporate commercial lawyer in both private and in-house capacities and across various industries. He has also served as company secretary for ASX listed and unlisted companies in the mining sector. Anuncio • Jan 17
Breaker Resources Nl Announces Results from an Additional 6 Deeper Diamond Drill Holes At Its Lake Roe Gold Project Breaker Resources NL announced the results from an additional 6 deeper diamond drill holes as part of the resource development program beneath the Bombora Discovery at its Lake Roe Gold Project. Five holes targeted the Northern Flats lode structures with every hole delivering substantial (>10 grams x metre) results. Best results from the Northern Flats include: 0.78m @ 199.1 g/t gold from 659.37m in BBDD158 (est. true width = 0.54m); 1.18m @ 8.63 g/t gold from 460.0m in BBDD158 (est. true width = 0.82m). The one diamond hole targeting extensions of the Tura lode also returned significant results including: 10.27m @ 6.09g/t gold from 348.5m (est. true width = 5.2m); 1.20m @ 60.52 g/t gold from 129.8m (est. true width = 1.1m). Northern Flats Lodes – Drilling: Drillholes BBDD0155, BBDD0156, BBDD0157, BBDD0158 and BBDD0160 were targeting the series of stacked, shallow north plunging flat lodes located below and north of the future open pit. The Northern Flat lodes have been drill tested over a strike of 2km and remain open at depth. The lodes fracture horizontally across the main brittle dolerite host with the intersection points of the steep west-dipping structures and steeper east-dipping structures creating dilation zones with thicker higher-grade shoots within them. With reference to the bonanza hit result of 199.1 g/t gold, it sits within one of the Northern Flat lodes which previously returned 1.3m @ 42.7 g/t gold within 4.6m @ 12.5 g/t in BBDD0096W2, just 40m south and up-dip. These latest results continue to confirm the Company's belief that the Northern Flats lode structures can become a significant future underground mining source to complement and extend a mine-life at Lake Roe. Tura Lode – Drilling: The Tura lode is the main sub vertical, steep lode at Bombora, characterised by continuous mineralisation along the shear, within the magnetic quartz dolerite. Numerous high grade shoots are present within the Tura lode, associated with structure intersections. Drillhole BBDD0159 was targeting the Tura lode which is the main mineralised sub vertical shear zone at Bombora. This hole intersected a number of the primary mineralised lodes beneath the Bombora open pit. Its main target was a down plunge extension of the Tura lode which successfully returned a solid intercept of 10.27m at 6.09 g/t (est. true width of 5.3m). Interestingly the three other known lode structures intersected in the hole all returned significant high-grade results adding to their capacity for underground extraction as well. Future Focus: Breaker has called a temporary halt to its drill-out of the underground lodes at Bombora whilst it completes revised and additional work on mine development studies for open pit and underground mining at Bombora. This is an essential step and feeds into the completion of definitive feasibility for the development of the project. In the meantime, Breaker's team has worked up a number of regional targets which it believes could add to the overall Lake Roe Gold project. During the hiatus in resource drilling its team will move onto more detailed reconnaissance and greenfields-type works on these areas. Anuncio • Nov 23
Breaker Resources NL Provides Update on Lake Roe Gold Project Breaker Resources NL announced the results from the next 10 holes or wedges drilled as part of its resource development infill program on the primary Northern Flat Lodes beneath the Bombora Prospect at its Lake Roe Gold Project. Pleasingly, every hole/wedge in this latest batch has returned high-grade gold intercepts which validate the interpretation and further enhances the continuity within the ore system. Best results include: 1m at 14.19 g/t gold from 191m in BBDD0149 (est. true width = 0.70m); 1.91m at 13.66 g/t gold from 543m in BBDD0149W1 (est. true width = 1.34m); 4m at 8.67 g/t gold from 445m in BBDD0150 (est. true width = 2.80m); 4.35m at 5.96 g/t gold from 484m in BBDD150W1 (est. true width = 3.05m); 1.5m at 11.18 g/t gold from 572m in BBDD150W1 (est. true width = 1.05m); 1.83m at 9.84 g/t gold from 515m in BBDD152W1 (est. true width = 1.28m); 1.07m at 9.38 g/t gold from 540m in BBDD154W1 (est. true width = 0.75m); 0.65m at 19.98 g/t gold from 549m in BBDD154W1 (est. true width = 0.46m); 1.9m at 13.46 g/t gold from 562m in BBDD0154W1 (est. true width = 1.33m). The Northern Flat Lodes are a series of stacked, shallow north plunging flat lodes located below and north of the future open pit. The flat lodes are mineralised consistently over 2km and display numerous hundred-metre-long high grade gold shoots, often associated with structure intersections.The Northern Flat Lodes plunging north from the proposed Bombora open pit manifest as stacked flatly dipping narrow, but high-grade lode structures typically 1-3m in thickness. The intersection of these with the NW trending and steeply east-dipping lodes, and the NW trending and west dipping lodes creates elongated corridors where much thicker and higher-grade shoots tend to form. The Bombora prospect at the Lake Roe Gold Project offers multiple open pit size/stage options with strong and demonstrable underground mining potential from the various primary lode structures. Resource development drilling continues at Bombora with the current focus on increasing drill density and structural validation of the higher-grade shoots within the flat lode structures. Pleasingly, in this late round of assays, every one of the 10 holes or wedges drilled has returned high-grade results with the infill line spacing now at 40m spaced lines. Anuncio • Nov 17
Global Lithium Resources Limited (ASX:GL1) completed the acquisition of Manna Lithium Project from Breaker Resources NL (ASX:BRB). Global Lithium Resources Limited (ASX:GL1) entered into binding agreement to acquire the remaining 20% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) on October 25, 2022. In related transaction, Global Lithium Resources entered into an agreement to acquire E28/2551 and E28/2522 Manna Tenements from Breaker Resources. The total consideration paid for both transactions is AUD 40 million. Total cash consideration payable to Breaker of AUD 60 million due at completion, which includes an amount of AUD 20 million by way of deferred consideration relating to Global Lithium’s initial acquisition of the 80% interest in Manna in December 2021 which Global Lithium has agreed to pay on an accelerated basis. In addition to the Cash Consideration, Global Lithium will grant Breaker a NSR Royalty of 1.5% for all minerals, excluding Precious Metals, produced from the Tenements but excluding the project area of Manna. Completion of the Manna Transaction is not subject to any conditions precedent and is expected to occur by November 15, 2022. Argonaut PCF Limited acted as financial advisor and Corrs Chambers Westgarth acted as legal advisor to Global Lithium in relation to the Manna Transaction and the Equity Raising.
Global Lithium Resources Limited (ASX:GL1) completed the acquisition of Manna Lithium Project from Breaker Resources NL (ASX:BRB) on November 16, 2022. Price Target Changed • Nov 16
Price target increased to AU$0.48 Up from AU$0.43, the current price target is an average from 2 analysts. New target price is 63% above last closing price of AU$0.29. Stock is down 23% over the past year. The company posted earnings per share of AU$0.0021 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Mike Kitney was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Nov 04
Butternut Box Certifies as A B Corporation Commences Drilling At Ularring, Targeting Ni-Pge and Cu-Au Breaker Resources NL advised that it has commenced diamond drilling at its 100% owned Ularring project in Western Australia. The project is located 100km north east of Perth near the town of Northam, and 45km east of Chalice Mining's Julimar discovery. Breaker pegged this tenement in 2014, prior to the emergence of the region as a burgeoning mining jurisdiction, which also includes Caravel Mineral's 2.8Mt Bindi copper project. A four-hole diamond drilling program, co-funded by the Western Australian government's Exploration Incentive Scheme, commenced this week to test Ni-PGE and Cu-Au targets. The first diamond hole is designed to intercept an historical geophysical anomaly (FLTEM) interpreted to be sulphidic in nature, associated with copper anomalies at surface and never drill tested.The remaining three diamond holes are planned at the Centre Forest copper-gold prospect, to test multiple metal anomalies directly east of historical drilling where intervals such as 61m at 0.87g/t Au and 25m at 0.47g/t Au and 0.18% Cu were reported. (WAMEX Report A64958). Anuncio • Oct 27
GLR Australia Pty Ltd entered into an agreement to acquire E28/2551, E28/2522 Manna tenements and remaining 20% of Manna Lithium Project from Breaker Resources NL (ASX:BRB) for AUD 40 million. GLR Australia Pty Ltd entered into an agreement to acquire E28/2551 and E28/2522 Manna Tenements from Breaker Resources NL (ASX:BRB) on October 25, 2022. In a related transaction, GLR Australia Pty Ltd also acquired remaining 20% of Manna Lithium Project. The total consideration paid for both transactions is AUD 40 million. Anuncio • Oct 06
Breaker Resources Nl Announces Executive Changes The Board of Breaker Resources NL announced that founder and Managing Director, Tom Sanders, has stepped aside from his role as Managing Director with immediate effect. The Board intends to recruit a new CEO to drive the group through its future, feasibility, construction and eventually production phases for its advanced Lake Roe Gold Project. In the interim, the group's Non-executive Chairman, Peter Cook will take on responsibility as acting CEO of the Company whilst it embarks on the transition. Anuncio • Sep 22
Breaker Resources NL, Annual General Meeting, Nov 24, 2022 Breaker Resources NL, Annual General Meeting, Nov 24, 2022. Agenda: To consider election of Directors. Anuncio • Sep 17
An unknown buyer agreed to acquire an unknown stake in Global Lithium Resources Limited (ASX:GL1). An unknown buyer agreed to acquire an unknown stake in Global Lithium Resources Limited (ASX:GL1) for AUD 35 million on September 15, 2022. Breaker is entitled to two deferred milestone payments of AUD 10 million each with the first payment of AUD 10 million due on definition of a resource containing 250,000 tones ofLiO2 and the second payment of AUD 10 million due once production exceeds 100,000 tones of contained Li02.
An unknown buyer completed the acquisition of an unknown stake in Global Lithium Resources Limited (ASX:GL1) on September 15, 2022. Anuncio • Sep 14
Breaker Resources NL Announces High-Grade Results Consolidate Underground Mining Potential of Tura Lode over 900m Breaker Resources NL announced high-grade results consolidate underground mining potential of Tura Lode over 900m. Section 6600860N (BBDD0142 and BBDD0144): BBDD0142 returned an intersection of 1m @ 6.69g/t Au in the Tura lode within a broader 3.0m @ 2.75g/t Au from a depth of 275.0m updip from the BBDD0144 Tura intersection. Three west-dipping lodes were intersected at 62.2m (1.8m @ 1.18g/t Au), 119.7m (3.28m @ 1.17g/t Au), and 245.6m (2.43m @ 1.92g/t Au. A narrow steep lode was also intersected at 52.55m (0.55m @ 7.13g/t Au). BBDD0144 delivered an intercept of 3.58m @ 10.58g/t Au within an 10.4m intersection of 10.4m @ 3.94g/t Au from a depth of 349.0m. BBDD0144 also intersected 5.0m @ 5.51g/t Au in a wider zone of 12.7m @ 2.45g/t Au from a depth of 117.8m associated with the west-dipping Quarries lode, significantly upgrading open pit mineralisation in this area. A narrow steep lode was intersected at a depth of 43.7m (2.3m @ 4.56g/t Au). Section 6600780N (BBDD0141, BBDD0143 and BBDD0145): BBDD0141 returned an intersection of 0.77m @ 21.24g/t Au from a depth of 318.23m in the Tura lode. BBDD0141 also intersected west-dipping lodes at depths of 121.4m (0.83m @ 1.71g/t Au) and 266m (3.62m @ 1.73g/t Au associated with the Quarries lode. BBDD0143 delivered an intercept of 1.9m @ 19.08g/t Au within a broader zone of 11.9m @ 4.46g/t Au from a depth of 371m. Significant west lode mineralisation was encountered at depths of 102.42m (3.21m @ 2.01g/t Au, 125.94m (3.06m @ 1.73g/t Au), and 282.46m (1.1m @ 7.09g/t Au). BBDD0143 also intersected the Daisy lode to the east of Tura, with an intercept of 1.2m @ 3.9g/t Au @ from 487m. BBDD0145 intersected 3.0m @ 3.43g/t Au from a depth of 416m in the Tura lode. BBDD0143 also intersected several west-dipping lodes with best intersections of 10m @ 1.10g/t Au from 90m (incl. 0.27m @ 10.38g/t Au), 0.87m @ 4.30g/t Au from 107.4m, and 1.7m @ 2.07g/t Au from 295.3m. BBDD0146 planned to intersect Tura closer to surface, in an area dominated by RC holes and lacking structural information. It successfully intersected significant mineralisation, confirming the thickness of the mineralised zone returning 5m @ 6.35g/t from a depth of 110m within a wider zone of 10m @ 3.43g/t. Exploratory Drilling: Three exploratory diamond drill holes were completed for 617.6m (BBDD0135-0136; BBDD0138). BBDD0135 targeted potential mineralisation in the footwall of the Bombora deposit and did not intersect any significant gold mineralisation. BBDD0136 was abandoned and redrilled as BBDD0138 targeting the sheared syenite/greenstone 500m to the east of Bombora. This hole encountered anomalous gold which requires follow-up given the 4km-long, regional scale target along the syenite contact. Ongoing Activities: The main drilling focus is on infill drilling on the Tura lode and the northern flat lode array with the aim of upgrading a significant component of the underground resource ounces from Inferred to Indicated category to assist ongoing mining studies. The Tura lode remains open to the south and further extensional and infill drilling is currently being planned. The three diamond drill rigs currently underway are targeting the 2km-long array of high-grade flat lodes in the northern part of the deposit (infill and extensional). Stacked flat-dipping lodes in the northern part of the Bombora deposit have been tracked over a total strike of 2,200m. The assay turnaround time from the laboratory has returned to a more acceptable 3-4 weeks, enabling the reporting of drill results on a more regular basis going forward. Assay results are pending for four completed diamond drill holes targeting flat lodes below the Bombora open pit shells. A Resource update is planned for late fourth quarter 2022. Mining and economic studies are on-going and the Company is working towards establishing a Phase 1 open pit and underground development that it expects will keep growing with further drilling. A PFS mining study is planned for first quarter 2023. The final timing will be influenced by the rate of growth in Indicated underground resource available for mining studies. Once the building blocks are in place for a Phase 1 development, and any Phase 1 development has been adequately de- risked, the potential advantage of using underground drill access will be considered. Drilling at Bombora is expected to continue for many years. Anuncio • Sep 13
Breaker Resources NL Announces High-Grade Results at its Lake Roe Gold Project Breaker Resources NL announced drilling at Breaker's Lake Roe Gold Project continues with three diamond drill rigs running continuously. The objective is to expand and upgrade the 659K underground Resource at the 4km-long, 1.5Moz Bombora deposit# in preparation for a Resource update in late fourth quarter 2022. A total of 15 diamond drill holes for 7,058m are reported covering drilling in the period November 2021 to June 2022. Twelve of the 15 drill holes targeted the steeply-dipping, high-grade Tura lode located in the central part of the 1.5Moz Bombora deposit (BBDD0132-134, BBDD0137 and BBDD0139-0146). The Tura lode is one of eight south-plunging steep lodes extending beneath the Bombora deposit. The high-grade Tura lode extends over a down-plunge distance of 900m and remains open down-plunge to the south following the two extensional drill holes. The remaining three drill holes were reconnaissance in nature, targeting the syenite 500m to the east of the Bombora (BBDD0136/0138), and the western footwall of the Bombora deposit (BBDD0135). All of the holes were drilled to the east, parallel and down-dip to the prospective quartz dolerite host rock which enables a good intersection angle on all three lode types (steep, flat and west-dipping). This drill orientation also enables enhanced definition of the west-dipping lodes not adequately "seen" by previous west-orientated drilling dominant in the areas drilled. Tura Drill Results Overview: Of the twelve drill holes targeting the Tura lode, the initial two are the tail end of the 80m-spaced programme of 80m-spaced extensional drilling completed in late 2021 (BBDD0132-0133). The remaining ten drill holes were designed to upgrade high-grade gold mineralisation on a 40m drill spacing below the potential area of open pit mining. Each of the remaining ten infill drill holes (BBDD0134, BBDD0137 and BBDD0139-0146) intersected significant high-grade gold mineralisation either within the Tura lode, or in separate mineralised structures in the hanging wall or footwall. Extensional Drilling Analysis: The Tura lode remains open to the south and further extensional and infill drilling is currently being planned. BBDD0132 intersected the Tura lode on the edge of the gold-prospective quartz dolerite which downgraded the scope to intersect significant mineralisation. A separate steep lode intersected in the shallow part of the open pit Resource returned 6.2m @ 6.21g/t Au from 11m, upgrading the tenor of steep lode mineralisation in this area. BBDD0133, a step-out drill hole 100m down-plunge of BBDD0132 intersected 0.36m @ 4.69g/t Au from a depth of 639.53m. Tura Infill Drilling Analysis: The infill drilling results confirm the continuity of the Tura lode over a distance of 900m based on nominal drill spacing of 40m. The drilling also intersected numerous west-dipping lodes directly below the optimum open pit shell indicating potential for a larger pit in the central part of the deposit. A sectional breakdown of the drilling is provided. Section 6601025N (BBDD0134 and BBDD0137): BBDD0134 intersected the Tura lode at 312m with anomalous results in a zone of strong shearing, the updip extension of the high-grade zone in BBDD0137. BBDD0134 also encountered three separate west-dipping lodes at 40m (1.03m @ 3.66g/t Au), 243m (2.72m @ 1.43g/t Au) and 603m (3.2m @ 1.04g/t Au incl. 0.5m @ 3.29g/t Au), and a steep lode at 58m (5.42 @ 1.41g/t Au incl. 0.75m @ 8.47g/t Au). BBDD0137 returned an intersection of 3.0m @ 6.69g/t Au in the Tura lode within a broader zone of 10.0m @ 2.34g/t Au. BBDD0137 also intersected separate steep lode mineralisation to the east of Tura, with an intersection of 2m @ 5.49g/t Au from 540m within a broader zone of 3.8m @ 3.54g/t Au (interpreted to be the Daisy lode). New flat lode mineralisation was also identified at a depth of 454m (2m @ 3.19g/t Au), in addition several west-dipping lodes and a steep lode within the open pit area. Section 6600940N (BBDD0139 and BBDD0140): BBDD0139 intersected the Tura lode at 317m as an anomalous zone of strong shearing, updip from the Tura lode intersected in BBDD0140. BBDD0139 also intersected several west-dipping lodes at depths of 48m (1.03m @ 0.97g/t Au), 107m (7.0m @ 1.22g/t Au), 124m (0.7m @ 2.99g/t Au), and 166m (1.5m @ 1.89g/t Au). BBDD0140 returned an intersection of 1.0m @ 3.69g/t Au in the Tura lode within a broader 3.0m @ 1.64g/t Au. BBDD0140 also intersected several west-dipping lodes with best intersections of 4.91m @ 1.82g/t Au from 122.2m (incl. 3.11m @ 2.49g/t Au), and 2.25m @ 7.94g/t Au from 192.25m within a broader zone of 8.75m @ 2.22g/t Au. Anuncio • May 27
Breaker Resources Nl Announces the Gl1- Drilling Commences on Schedule At Manna Lithium Project Breaker Resources NL announced the commencement of a 20,000m reverse circulation drilling programme at the Manna Lithium deposit, situated within Breaker Resources NL's 1.7Moz# Lake Roe Gold Project. A maiden Inferred JORC Mineral Resource of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm^ was previously announced on 17 February 2022. The pegmatite system at Manna is open in all directions with several mineralised trends extending over a 5km x 1.5km area. Breaker retains a 20% free-carried interest in the Manna Lithium Project with Global Lithium carrying all costs and expenditure to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million. Anuncio • May 17
Breaker Resources NL Announces the Appointment of Sam Smith as Chief Operating Officer, Effective 1 June 2022 Breaker Resources NL announced the appointment of Sam Smith as Chief Operating Officer, effective 1 June 2022. Mr. Smith was most recently General Manager of Growth at Macmahon Holdings Limited where he was responsible for managing various teams of estimators, engineers and administrators to tender and plan multi-million dollar projects from start-up to steady-state operation. He has 15 years' experience, primarily in Business Development in the mining services sector. Price Target Changed • Apr 27
Price target increased to AU$0.51 Up from AU$0.47, the current price target is provided by 1 analyst. New target price is 98% above last closing price of AU$0.26. Stock is up 19% over the past year. The company posted a net loss per share of AU$0.049 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Mike Kitney was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Apr 12
Breaker Resources NL Confirms Positive Outcomes from an Open Pit Optimisation Study Breaker Resources NL confirmed positive outcomes from an open pit optimisation study (the Study) targeting the Bombora-Claypan gold deposits situated within its 1.7Moz Lake Roe Gold Project# following the 20 December 2021 Mineral update. The objectives of the Study are to: (i) assess the potential for open pit mining, (ii) guide decision making on the optimal size of a processing facility in a standalone development scenario; and (iii) help determine at what depth a transition from open pit mining to underground mining is likely to be most profitable. Bombora is a virgin discovery with no mining legacy issues, is a typical Archean (stratabound) multi-lode deposit hosted by fractionated dolerite. The Company's objective at Lake Roe is to develop a standalone open pit and underground mine based initially on the Bombora gold deposit, while concurrently stepping up its drilling to keep growing the 9km-long gold system and further expand its development options. Preliminary underground mining studies are now underway and will initially focus on the high-grade Tura lode and the 2.2km-long array of high-grade flat lodes discovered below the open pit Resource over the last year. Mineral Resource: The Study is based on the Mineral Resource Update (ASX Announcement 20 December 2021) generated by independent consultants Optiro Pty Ltd. (Optiro), and totals 31.9 million tonnes at 1.6g/t gold for 1.68 million ounces. To guide planned mining studies, a subset of the Bombora Resource at higher cut-off grades was completed at the same time. Global Bombora Optimisation: The results for the Global Bombora optimisation run using the input parameters outlined above, are summarised below in Table 4. Open Pit Shells #41 and #74 represent the 215m-deep optimal pit and the 265m-deep pits respectively and are shown in relation to the 9km-long gold system at Lake Roe and the Bombora Mineral Resource. Several open pit shells of varying depth were selected which represent significant step changes in a simulated open pit that is mined in sequential stages or cutbacks starting at surface. North Bombora "Starter" Pit Optimisation: The results for the North Bombora "Starter" Pit optimisation run using the input assumptions with a 1.8Mtpa processing scenario are summarised. The different open pit optimisation shells shown in Table 5 simulate sequential progressively deeper stages or cutbacks in an open pit "mined" starting at the surface. A perspective view of the North Bombora Starter Pit "stages" in relation to the Global Bombora Open Pit Shells #41 and #74 is shown in Figure 5 and schematically. Approximately 99% of the Mineral Resource captured by the various Whittle open pit shells for the North Bombora Starter Pit optimisation is in the Indicated Resource category, with the balance in the Inferred category as summarised. Overview of Results: A first-pass global optimisation run targeting the 893,000oz open pit Resource at the Bombora- Claypan deposits returned several compelling outcomes. The Study points towards a significant standalone project with the potential to vary the size of the processing facility depending on the results of further drilling and further mining study. There is potential to materially enhance the outcome of the Study by inclusion of the Crescent- Kopai deposit and by underground mining. A preliminary mining study has commenced based on a subset of the underground Mineral Resource of 501,000oz at 3.6g/t#. Significant outcomes of the Study are summarised: Whilst the capital cost for a process plant is not yet considered it is clear that there is sufficient potential for a standalone process plant to be built at Bombora to service the open pit mining, complemented by sustained production expected from future underground mining. Assuming a 1.8Mt per annum processing rate, the optimum open pit shell is 215m deep, capturing 8.4Mt at 1.6g/t Au (427,000oz) & returning up to $385 million in pre-tax free cash flow over a 4 year period (open pit shell #41 in Global Bombora optimisation run). This pit has an overall waste-to-ore strip ratio of approximately 12 to 1 and recovers 400,000oz with a mine production cost of AUD 1,540/oz Despite inclusion of up to 20% mining dilution at zero grade, the results point to a significant improvement in "mined" grade captured by most open pit shells relative to the 1.4g/t Au Open Pit Mineral Resource. This a result of the optimisation software "seeking out" higher grade mineralisation in a favourable 3-D configuration to maximise the potential value of the open pit. The Study demonstrates that the Bombora mineralisation is in a favourable configuration for open pit mining. This translates to scope for strong early cashflow in any early development scenario, and to regular value-accretive cutbacks as the depth of mining increases. The mineralisation comes to within 5m of the surface, occurs in "stacked" lodes over a 150m-wide zone over a long strike length, and extends down-dip in a regular fashion and this is reflect in low strip ratios in the shallower open pit shell. These pit optimisation provide the guidance required to assist with the transitional analysis required to decide when a shift from open pit style mining to underground mining is optimal. The "North Bombora Starter Pit" optimisation returned similar, favourable results indicating good potential for staged, value-accretive cut-backs with low strip ratios, and low cost/oz near-surface, culminating in a 200m deep open pit with a strip ratio of approximately 11:1. Recent Insider Transactions • Feb 08
MD & Director recently bought AU$310k worth of stock On the 4th of February, Thomas Sanders bought around 1m shares on-market at roughly AU$0.25 per share. This was the largest purchase by an insider in the last 3 months. This was Thomas' only on-market trade for the last 12 months. Recent Insider Transactions • Jan 19
Non-Executive Chairman recently bought AU$209k worth of stock On the 12th of January, Peter Cook bought around 827k shares on-market at roughly AU$0.25 per share. This was the largest purchase by an insider in the last 3 months. Peter has been a buyer over the last 12 months, purchasing a net total of AU$283k worth in shares. Anuncio • Jan 01
Global Lithium Resources Limited (ASX:GL1) completed the acquisition of a 80% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) and Breaker Resources Lithium Pty. Global Lithium Resources Limited (ASX:GL1) entered into an agreement to acquire 80% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) and Breaker Resources Lithium Pty Ltd for AUD 33 million on December 23, 2021. Under the terms, Global Lithium will pay AUD 13 million upfront consideration, comprising AUD 6.5 million in cash and AUD 6.5 million being 10,268,229 in Global Lithium shares on December 31, 2021, to secure the rights, AUD 10 million payable on the definition of a Mineral Resource containing more than 250,000 tonnes and AUD 10 million payable upon the production of 100,000 tonnes. Global Lithium to fund all exploration and technical studies to completion of a definitive bankable feasibility study within five years. If Global Lithium fails to achieve this outcome, its equity will revert to a 50% joint venture arrangement; and Breaker to retain at least a 20% equity interest in the Manna Lithium Project by way of its wholly-owned subsidiary, Breaker Resources Lithium.
Global Lithium Resources Limited (ASX:GL1) completed the acquisition of a 80% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) and Breaker Resources Lithium Pty on December 31, 2021. Anuncio • Dec 24
Global Lithium Resources Limited (ASX:GL1) agreed to acquire 80% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) and Breaker Resources Lithium Pty Ltd for AUD 33 million. Global Lithium Resources Limited (ASX:GL1) entered into an agreement to acquire 80% stake in Manna Lithium Project from Breaker Resources NL (ASX:BRB) and Breaker Resources Lithium Pty Ltd for AUD 33 million on December 23, 2021. Under the terms, Global Lithium will pay AUD 13 million upfront consideration, comprising AUD 6.5 million in cash and AUD 6.5 million being 10,268,229 in Global Lithium shares on December 31, 2021, to secure the rights, AUD 10 million payable on the definition of a Mineral Resource containing more than 250,000 tonnes and AUD 10 million payable upon the production of 100,000 tonnes. Global Lithium to fund all exploration and technical studies to completion of a definitive bankable feasibility study within five years. If Global Lithium fails to achieve this outcome, its equity will revert to a 50% joint venture arrangement; and Breaker to retain at least a 20% equity interest in the Manna Lithium Project by way of its wholly-owned subsidiary, Breaker Resources Lithium. Price Target Changed • Dec 21
Price target increased to AU$0.51 Up from AU$0.47, the current price target is provided by 1 analyst. New target price is 80% above last closing price of AU$0.28. Stock is up 40% over the past year. The company posted a net loss per share of AU$0.049 last year. Anuncio • Dec 20
Breaker Resources NL Provides Lake Roe Gold Project Mineral Resource Update Breaker Resources NL reported a 23% increase in the Mineral Resource at its Lake Roe Gold Project, 100km east of Kalgoorlie in WA. Global ounces increased by 314,000oz to 1.68Moz. This follows a 40% increase since the previous Resource update announced in April 2021. The grade at the Bombora depost increased by 13% to 1.8g/t gold. The new Mineral Resource was generated by independent consultants Optiro Pty Ltd. (Optiro) and totals 31.9 million tonnes at 1.6g/t gold for 1.68 million ounces. The new Mineral Resource builds on a track record of sequential growth since the maiden estimate in April 2018. The new Mineral Resource estimate is based on a further 18 diamond drill holes (11,725m) and 8 Reverse Circulation (RC) drill holes (1,720m at Bombora South). Most of the increase in the new estimate is from the Bombora Underground Resource area (245,000oz) where 87% of the new drilling was focused, and where mineralisation remains open along strike and at depth. The new estimate also includes a small increase in the Bombora open pit area (21,000oz) where limited new RC drilling continued to extend the strike of the Bombora lodes to the south. Mineralisation remains open to the south in this area. Revised geological models for the nearby satellite deposits of Crescent-Kopai and Claypan resulted in increased Mineral Resource estimates in each area: the Crescent-Kopai estimate increased by 46,000oz to 132,000oz, and the Claypan estimate increased by 2,000oz to 69,000oz. The open pit Mineral Resource at Bombora starts 5m from surface and is in a favourable configuration for large-scale open pit mining, assisted by a 150m-wide mineralised zone, and a gold endowment of ~3,800 ounces per vertical metre arising from a high concentration of lodes. The kilometric-scale continuity of all three lode (mineralised fault) orientations initially established by extensive drilling in the open pit area, extends at depth, significantly de-risking any future underground mining. New diamond drilling below the open pit resource since the previous Resource estimate in April 2021 has consistently delivered high-grade results on 80m step-outs, continuing to upgrade the grade and growth potential at depth. The Tura lode now extends over 900m down-plunge, remains open to the south and is one of eight south-plunging steep lodes extending beneath the Bombora deposit. The flat-dipping stacked lodes in the northern part of the Bombora deposit have no been tracked for over a total strike of 2,200m, with the new Resource estimate including a further 280m of strike length since the previous April 2021 estimate. These flat lodes remain open to the north and south, with new flat lodes still being discovered as deeper drilling continues. There is mounting evidence that mineralised flat faults at Bombora can be projected eastwards into the syenite contact, an emerging area of potential discovery. The presence of lode stacking is a major advantage for any gold project, significantly increasing the ounces per vertical metre, thereby enhancing the potential economics in open pit or underground mining scenarios. The Bombora open pit area has an average gold endowment of 3,800oz per vertical metre with 86% of the mineralisation in the Indicated Resource category, reflecting the high density of drilling. The decrease in ounces per vertical metre with depth is a direct function of the amount of drilling completed to date. Price Target Changed • Dec 16
Price target increased to AU$0.49 Up from AU$0.45, the current price target is provided by 1 analyst. New target price is 66% above last closing price of AU$0.29. Stock is up 51% over the past year. The company posted a net loss per share of AU$0.049 last year. Anuncio • Nov 27
Breaker Resources NL Provides Update on Manna Lithium Prospect Breaker Resources NL advised that it has now received assays from the latest round of 1,875m of RC drilling at its Manna Lithium Prospect, situated within the Lake Roe Project area. The results indicate a significant emerging discovery with key highlights from the latest program summarised below. High-grade spodumene-rich pegmatite intercepts from the 750m x 130m main area of outcrop at Manna confirm good continuity of mineralisation. Results include:17m @ 1.54% LiO from 38m in BMRC0022; 9m @ 1.94% LiO from 219m in BMRC0021; 6m @ 1.81% LiO from 43m in BMRC0020. Step-out drilling below anomalous soils with coincident Li-Rb-Sn-Be soil geochemistry 350m to the south of Manna (Manna 2) discovers a new zone of spodumene-rich pegmatite with best intercepts of: 11m @ 1.16% LiO from 43m in BMRC0023, including 5m @ 1.85% LiO from 48m;5m @ 1.58% LiO from 116m in BMRC0024, including 3m @ 2.15% LiO from 116m. The Manna 2 results upgrade the prospectivity of several other Li-Rb-Sn-Be auger soil anomalies of similar magnitude that surround the Manna 1 and 2 mineralisation over an 8km x 5km area, considerably expanding the lithium potential. All areas of known spodumene mineralisation are open along strike and at depth This recent round of Reverse Circulation (RC) drilling at the Manna Lithium Prospect consists of 12 RC holes for 1,875m. The aim of the drilling was: (i) to confirm the continuity of outcropping spodumene-rich pegmatite at Manna 1; and (ii) test anomalous Li-Rb-Sn-Be auger soil results situated on a parallel trend 350m south of Manna 1 Importantly the key objectives of this latest drill program were met with every hole successfully intersecting spodumene-bearing pegmatite. All areas of spodumene mineralisation are open along strike and at depth, and the discovery remains sparsely tested. The Manna 2 discovery indicates that the 2019 auger soil geochemistry is working and that unsurprisingly, not all of the lithium mineralisation occurs in areas of outcrop. This elevates the prospectivity of several other Li-Rb-Sn-Be auger soil anomalies of similar magnitude which occur over a 8km x 5km area surrounding the Manna discoveries. The lithium-bearing pegmatite at Manna appear to be part of a cluster of deep-seated crustal faulting into which fractionated pegmatites have intruded. The mapped distribution of spodumene and lepidolite at Manna 1 indicates an increasing fractionation trend towards the northeast. Anuncio • Sep 24
Breaker Resources NL Reports More High- Grade Drill Intercepts from Its Lake Roe Gold Project Breaker Resources NL reported more high- grade drill intercepts from its Lake Roe Gold Project, 100km east of Kalgoorlie in Western Australia. The latest results extend the Bombora deposit to the north and south, and demonstrate high-grade growth potential in several lode types within the ore system. This announcement reports on the latest batch of assay results from: Thirteen (13) extensional and infill diamond drill holes (7,774m), including two wedges, targeting deeper high-grade lode and vein array systems. Eight (8) reverse circulation (RC) drill holes (1,720m) targeting southern extensions to the Bombora deposit; Twenty (20) exploratory RC drill holes (2,988m) located to the east and south of Bombora, targeting anomalous gold in previous aircore drilling at the Carbineer Prospect, the Claypan Prospect, and along the margin on the Swan Lake Syenite to the east of Bombora. BBDD0123 and BBDD0125 are two 80m step-out holes located north of the current Resource. Those holes were targeting the north extension of the flat lode array. Both holes successfully intersected multiple flat lodes where expected and assay results confirm that the presence of high-grade mineralisation continues. This indicates that the flat lodes array keep extending towards the north. Drilling of the next 80m step-out hole BBDD0128 is currently underway with encouraging visuals. Assays are pending. BBDD0113W1, BBDD0121 and BBDD0121W1 were 80m infill holes targeting the north flat lodes, partially included in the last resource update in the inferred category. Both holes successfully intersected the flat lodes where expected. Assays results confirm the structural, thickness and grade continuity of the flat lodes to the north. BBDD0114, BBDD0115 and BBDD0119 were targeting potential for additional stacked lodes at depth. Whilst they intersected flat structures, these were not strongly mineralised but provided valuable information for geotechnical evaluation of mine development. Bombora Southern Extensions Eight (8) RC drill holes at a length of 1,720m were completed on three drill sections targeting the west-dipping Quarries lode at the southern extremity of the Bombora deposit. The west-dipping Quarries structure has been traced over a 3.5 kilometre distance from Bombora South to the Carbineer Prospect (Figure 5).All eight (8) drill holes encountered significant mineralisation with best intercepts of: 3m at 6.82g/t Au from 153m in BBRC1870 (including 2m at 9.80g/t Au), 3m at 4.28g/t Au from 144m in BBRC1874 (including 1m at 10.94g/t Au), and 5m at 2.30g/t Au from 127m in BBRC1869 (including 1m at 6.75g/t Au). The twenty (20) exploratory RC drill holes to the east and south of Bombora returned anomalous and potentially significant results in several areas as summarised on. The magnetite-altered contact of the Swan Lake Syenite to the east of Bombora is prospective for syenite-associated gold mineralisation. This potential is supported by widespread gold, silver, tungsten and molybdenum anomalism in end-of-hole aircore drilling over a 12 kilometre strike length, the presence of magnetite-destructive silica-albite and carbonate alteration, shearing and quartz veining, and grades up to 3.06g/t Au in previous drilling. Board Change • Sep 09
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Mike Kitney was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Jun 10
Breaker Resources NL Announces Exceptional Results of Up to 20.5G/T Au Highlight Strong Potential to Grow Underground Resource Breaker Resources NL reported additional high-grade drill intersections at the 1.4Moz# Lake Roe Gold Project, 100km east of Kalgoorlie in Western Australia. Each of the four 80m-spaced diamond drill holes returned multiple infill or extensional intersections from a 2km-long, 150m wide array of regular high-grade gold lodes situated below the northern part of the open pit Resource at the Bombora deposit. The results demonstrate scope to significantly expand the 413,000oz maiden underground Resource# announced in late April 2021. The BBDD0109W2 and BBDD0111W1 intersections include new flat and steep lodes situated outside the Resource. Drilling for the next Resource update is well-advanced. Assay results at Bombora are pending for eight diamond drill holes targeting high-grade extensions below the open pit Resource and outside the underground Resource. Assay results are also pending for 87 reconnaissance RC drill holes designed to test the potential for shallow discovery over the 9km between the Crescent-Kopai and Claypan deposits. Maiden Resources at Crescent-Kopai and Claypan announced in April 2021, in conjunction with extensive areas of anomalous aircore gold with little RC and diamond drilling, indicate an emerging gold district. The reported drilling is part of a major program designed to expand the 1.4Moz global Resource at Lake Roe to build critical mass for a large new gold development. The Company is running two diamond drill rigs targeting two areas below the open pit Resource at Bombora: a 2km-long, 150m-wide array of regular high-grade gold lodes below the northern part of the deposit, and the southern extension of the major sub-vertical mineralised "steep" Tura and Daisy lodes. RC drilling to test multiple shallow extensional and discovery targets within the 9km-long gold system is planned to restart in approximately four weeks. Aircore drilling to test multiple shallow targets inside and outside the 9km gold system is expected to start in two weeks. Results are reported for four 80m-spaced infill diamond drill holes: BBDD0109, BBDD0109W2, BBDD0111 and BBDD0111W1 for a total of 1,994m. Each of the four diamond drill holes returned multiple intersections. BBDD0109 confirmed continuity of flat lode mineralisation. BBDD0109W2 intersections are outside the Resource and include a new flat shear, part of the flat lode array which connects to the Brigalow Mick steep lode. This hole confirms that there is significant high grade gold yet to be captured in the Resource in this area. BBDD0111 confirmed continuity of flat lode mineralisation. BBDD0111W1 intersected gold mineralisation associated with new flat and steep structures outside the Resource. The intercepts confirm new lodes outside the Resource that are open to the south. BBDD0111W1 also intersected a new steep lode with visible gold at depth. This steep lode, named the Banjo lode, is located in between the Morant steep lode and the Brigalow Mick steep lode. The Banjo lode was previously intersected in a handful of widely spaced holes. It shows consistent grade and fills the gap in the pattern of stacked steep lodes, confirming the repetition of mineralised structures at Bombora. Price Target Changed • Apr 15
Price target decreased to AU$0.45 Down from AU$0.49, the current price target is provided by 1 analyst. New target price is 85% above last closing price of AU$0.24. Stock is up 20% over the past year. Anuncio • Mar 10
Breaker Resources NL Reports Its Strategy to Grow the 1Moz Resource# At Its Lake Roe Gold Project Breaker Resources NL reported that its strategy to grow the 1Moz Resource# at its Lake Roe Gold project near Kalgoorlie continues to deliver strong results. The latest results include high-grade assays from below the 1Moz open pit Resource# at the Bombora deposit within Lake Roe and from the Crescent-Kopai and Carbineer areas. The results upgrade the continuity and growth potential in each area and will form part of the Resource update planned for next month. A major diamond and reverse circulation (RC) drilling program is underway at the Bombora deposit targeting resource growth and discovery to lay the foundation for a major gold development. The Company is currently running two diamond drill rigs and either one or two RC
drill rigs depending on drill crew availability arising from an industry-wide labour shortage in this area. Diamond drilling at Bombora is targeting a 2km-long, 150m-wide array of regular high-grade gold steep, flat and west-dipping lodes situated below the 1Moz open pit Resource#. The
lode system was previously defined on a 160m drill line spacing and is open to the north and south. The lode array forms part of a 150m-wide mineralised zone of regular, stacked flat, steep and west-dipping mineralised faults within the upper, iron-rich part of the dolerite. Diamond
drilling underway is progressively closing the drill-line spacing to 80m for ongoing resource delineation. Results are reported for the first two 80m-spaced infill diamond drill holes BBDD0109W1 and BBDD0110/110W1 comprising a total of 1,625.89m. A full listing of significant results is
provided in Appendix 1 with more significant intersections shown in Figures 2, 4 and 5. Gold at Crescent-Kopai, situated 2.5km to the north of Bombora, occurs over an 1,800m x 300m area within flat-lying mineralised fault zones hosted by basalt and dolerite. Gold is accompanied by silica-albite-biotite-carbonate-pyrite alteration and quartz veining. Transported lake sediment over the zone is typically 5m thick. Drilling results are reported for 19 RC holes totalling 1,981m of drilling. RC drilling at Crescent-Kopai continued to map the areal extent of gold mineralisation on a 100m
x 40m drill hole pattern in the southern part of the Crescent-Kopai discovery in preparation for a maiden resource in April 2021. The Carbineer Prospect is located 400m-700m east of the Bombora deposit. Gold was initially identified in mid-2020 in a 1.5km-long extension of the Bombora Dolerite but follow-up drilling was delayed by the sourcing of an RC drill rig and manning issues, largely related to COVID- 19. Seven reconnaissance RC holes for 1,080m targeted the Swan Lake Syenite to the east of Bombora. The magnetite-altered syenite contact is geochemically anomalous in gold,
silver, tungsten and molybdenum over a 12km strike length based on aircore drilling. Two of the wide-spaced "wildcat" holes intersected anomalous gold up to 0.74g/t, tentatively associated with strike extensions of the west-dipping Quarries Fault, and the west-dipping Wobbegong Fault, situated to the east of the Quarries Fault. This is potentially significant and further drill testing of the syenite is planned. Price Target Changed • Dec 22
Price target lowered to AU$0.52 Down from AU$0.63, the current price target is provided by 1 analyst. The new target price is 160% above the current share price of AU$0.20. As of last close, the stock is down 31% over the past year. Is New 90 Day High Low • Oct 27
New 90-day low: AU$0.20 The company is down 21% from its price of AU$0.26 on 24 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day low: AU$0.22 The company is down 15% from its price of AU$0.26 on 07 July 2020. The Australian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 2.0% over the same period. Anuncio • Sep 24
Breaker Resources NL Reports Drilling Results from the Quarries/Carbineer and Bombora Deeps Areas Breaker Resources NL reported more strong drilling results from the Quarries/Carbineer and Bombora Deeps areas, located adjacent to and below the 1Moz Bombora gold deposit at the Lake Roe Project, 100km east of Kalgoorlie, Western Australia. The latest results along the Quarries-Carbineer structure upgrade the potential for west-dipping mineralisation over a strike length of 1.5km extending from the Bombora South Prospect into the Carbineer Prospect, based on 2,023m of reverse circulation (RC) and diamond drilling. The latest results from Bombora Deeps have increased the strike length of high-grade gold lodes below the open pit Resource to approximately 2,200m, based on 3,681m of diamond drilling. The drilling is part of a long term strategy to grow an extensively de-risked 1Moz open pit Resource and expand the Company's development options. The drilling at Quarries/Carbineer targeted a north-northeast trending, west-dipping mineralised structure with a known strike length of at least 1.5km, and which extends from the Bombora South Prospect into the Carbineer Prospect, situated to the east of the eastern branch of Claypan Shear. The drilling comprised twelve RC holes for 1,617m, one RC pre-collared diamond hole for 184m, and one diamond drill hole for 222m. The Bombora Deeps drilling comprised four diamond drill holes for 2,726m, and one RC pre- collared diamond hole for 955m. This drilling is in preparation for resource definition drilling aimed at growing the Resource to expand and de-risk the Company's development options. Reconnaissance RC and limited diamond drilling was also undertaken to test several conceptual targets in four different areas. The reconnaissance drilling results significantly upgrade the likelihood of new west-dipping mineralisation, further expanding the open pit potential to the east. Mineralisation in the hangingwall of the main deposit at Bombora is still not adequately defined by previous west-orientated drilling, and further drilling is planned to quantify this potential. The initial drilling on 300m-spaced step-out sections has increased the strike length of high-grade gold lodes below the open pit Resource to approximately 2,200m. None of this mineralisation is in the existing open pit Resource, which is defined to a variable depth of 180m to 300m below surface. Drilling below the 1Moz open pit Resource at Bombora has discovered new lodes, and materially extended others at grades typically amenable to underground mining. These lodes now extend to a maximum depth of 730m below surface in BBDD0100. BBDD0100 intersected two sub-parallel steep lodes 730m below surface in the central part of deposit. The intercepts of 3.01m @ 5.53g/t Au and 2.29m @ 4.78g/t Au represent probable down-plunge extensions of the Morant lode. BBDD0101 obtained an intercept of the Tura lode of 5.12m @ 3.16g/t Au (including 2.7m @ 5.49g/t Au) 60m down-dip of a previous intersection of 5.25m @ 9.35g/t Au. Drilling has now started to close in to 160m spaced sections as a preliminary step towards defining an Inferred "underground" Resource. Visible gold was identified in three lodes in BBRD1156 in the northern part of Bombora which appear to link up with new high-grade lodes in adjoining drill holes. Visuals indicate three identified specks of visible gold at about 489m downhole in a silica-albite altered stockwork associated with the flat lode array; thirteen specks of visible gold at about 615m in a steep east-dipping lode associated with a new steep lode previously intercepted in BBDD0096W2; and two specks of visible gold at 630m downhole in a flat lode.