Under the terms of the deal, shareholders of both parties will receive common shares of a newly formed company equal to Reunion Gold’s shareholders being issued 0.285 G Mining Ventures common shares for each Reunion Gold common share.

Besides, shareholders of Reunion Gold will get common shares in a newly formed gold explorer that will own all of Reunion Gold’s assets other than the Oko West gold project in Guyana.

G Mining Ventures will finance the newly formed entity with $15m ($11m).

The shareholders of Reunion Gold will receive an estimated consideration of $0.65 ($0.47) per Reunion Gold common share.

Following the closing of the merger, the existing G Mining Ventures and Reunion Gold shareholders will hold around 57% and 43% of the combined company. It is based on a fully diluted in-the-money before the concurrent $50m equity financing.

The shareholders of the merged entity and Reunion Gold will own 19.9% and 80.1%, respectively, of the outstanding common shares of the newly formed gold explorer.

Reunion Gold CEO, president and director Rick Howes said: “We believe that this Transaction not only delivers our shareholders an attractive upfront premium, but also the ability to participate with significant ongoing ownership in the combined company, having the opportunity to participate in an expected future re-rating as Oko West is advanced towards production.”

The transaction will create an Americas-focused leading intermediate gold producer, said the parties.

Through the acquisition, G Mining Ventures will acquire the Oko West project. The company intends to move the gold project quickly through technical studies to a construction decision.

It will be executed by utilising the considerable amount of exploration, development, and permitting work that has already been completed by Reunion Gold.

Located within the Guiana Shield region, the Oko West project is said to be one of the most significant gold discoveries in the region and has the potential to support a large, long-life mine complex.

G Mining Ventures CEO, president and director Louis-Pierre Gignac said: “Oko West has all the key attributes GMIN is looking for in its next leg of growth.

“We are well-positioned to accelerate value creation at Oko West leveraging our unique expertise in building and operating mines on schedule and on budget in the Guiana Shield, deep knowledge of and network in the region, and over US$480M anticipated near-term free cash flow from Tocantinzinho.”

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The senior secured loan and royalty financing arrangement of around $115m from Appian comprises $70m to help CLP achieve its base case nameplate capacity.

It also includes a $22.2m over-run facility and a $22.2m for expansion beyond base case capacity.

Mayur previously announced an equity funding of $40m from Vision Blue, a clean energy battery metals transition investment vehicle, in exchange for a 49% equity stake in the CLP.

The financing, together with Vision Blue Resources’ $40m equity investment, would help the Central Lime Project (CLP) be fully funded.

Mayur would use the funding to cover the construction costs to achieve the nameplate production capacity of 400,000 tonnes, along with an allocation for expected further expansion.

The first quicklime production is expected to begin 18 months after the financial close.

Mayur managing director Paul Mulder said: “Today marks the key funding milestone in delivering the CLP, which will be a transformative development for Papua New Guinea’s landowners, central province, and the broader manufacturing sector.

“Hundreds of new jobs, support service businesses, electricity, roads, education/health facilities are all part of the benefits that will be created for landowners, whom to date, have lacked such basic services and have been negatively impacted by isolation.

“As the nation’s inaugural industrial downstream manufacturing processing hub, the clp will also materially contribute to the clean energy transition by providing a key input to the processing of energy transition metals in the region.”

Mayur started the construction of the CLP in mid-2023 with primary activities to date being the wharf infrastructure.

With the wharf infrastructure started early, Mayur is allowed to optimise construction logistics and shorten the project’s development schedule.

In addition, the company is anticipated to generate early revenues through the sale of raw limestone aggregate from this wharf during the construction of the kilns.

Appian Capital Advisory CEO and founder Michael Scherb said: “Appian is excited to partner with Mayur and Vision Blue on the Central Lime Project in Papua New Guinea.

“CLP is a leading asset, set to produce low-cost lime products for metal processing, strategically located close to end markets in Australia and Asia.

“The project will also play a pivotal role in highlighting foreign direct investment in png, supporting the country’s growing industrial sector.

“This collaboration showcases the ongoing success of Appian’s dedicated credit and royalties offering, highlighting the significant value our team brings to the delivery of mining assets globally.”

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In this context, satellite analytics based on high-res satellite images emerges as a forward-thinking solution, increasingly sought after for its profound impact on enhancing precision across different spheres, including resource management. This technology not only promotes sustainable practices but also boosts operational capabilities.

Enhancing Exploration with Remote Sensing Data

In practical terms, remote sensing is crucial for numerous sectors. For instance, it aids agricultural professionals in increasing crop yields and plays a vital role in managing responses to natural disasters.  In addition to the increased accessibility of satellite data, companies can now obtain satellite images for free. However, to extract valuable insights from these images, it is essential to consult with specialists.

The mining industry, in particular, has greatly benefited from satellite imagery and other forms of Earth observation data. This sector has leveraged such data for a variety of purposes including monitoring of mining sites, planning of exploratory surveys, discovery of natural resources, and surveillance of environmental conditions.

One of the primary uses of high quality satellite images in mining involves the exploration for new resources through scanning for geological signs that are typically associated with specific minerals. Satellite imagery also enables mining companies to precisely focus their exploration efforts, improving both cost-efficiency and effectiveness. Moreover, geospatial analysts utilize these images to map out the mineral distribution within a region. By integrating satellite data with other information like geological surveys, mining companies gain a richer understanding of the area’s geological makeup. This knowledge aids in pinpointing prospective sites for exploration or extraction and helps in optimizing mining operations by revealing areas that might be saturated with competing interests.

Use of remote sensing in the mining industry

Remote sensing via satellite technology is profoundly transforming the mining industry by facilitating operations throughout all stages of the mine site lifecycle.

At the forefront, satellite imagery significantly aids in the prospecting of mineral deposits. These images not only provide critical information about the terrain, such as roads, trails, and barriers, but also form the basis for creating detailed land cover maps. This is crucial for identifying potential access routes to exploration sites and assessing the environmental impacts of major projects.

In regions like Europe, where high-quality mines are nearing depletion, the challenge shifts to locating new deposits in remote areas. Here, satellite-based remote monitoring becomes invaluable, offering a faster, more efficient means of conducting geological explorations in inaccessible locations.

Satellite maps are essential for identifying visible rock layers and monitoring vegetation health in areas under exploration. They also play a pivotal role in monitoring open-pit mines during the extraction phase. For instance, radar imagery from satellites like Sentinel 1 is analyzed to observe slope stability and monthly changes in landscape where active mining occurs. This monitoring is vital for ensuring worker safety by promptly identifying and addressing potential hazards before they lead to accidents.

Moreover, multispectral satellite images are crucial for the renaturation of lands post-mining. These images allow for the continuous monitoring of vegetation and the management of issues like acid drainage, which is the outflow of acidic water from mines. The high-resolution data helps track the response of vegetation to stress, enabling more effective renaturation management. These images are also invaluable for assessing the potential for farming and other activities on reclaimed mining land.

Enhancing Mineral Deposit Mapping with Satellite Imagery

Satellite imagery excels in mapping areas with potential mineral deposits by leveraging the unique spectral signatures of over 4,000 known minerals on Earth. These signatures, much like human fingerprints, are distinct for each mineral and can be identified from space. Satellites measure subtle variations in electromagnetic wavelengths caused by the minerals’ chemical compositions to detect these signatures.

Advanced imaging technologies capture data beyond the visible spectrum, including infrared and short-wave radiation, which are instrumental in revealing structural features of the Earth’s surface. Through thematic mapping and spectral images, researchers can gather detailed information about the absorption and reflection properties of soils, rock compositions, and vegetation coverage. This data is critical for identifying clay deposits, oxide levels, and soil types, further enhancing the efficiency and effectiveness of mineral exploration efforts.

Monitoring Environmental Impact

Satellite imagery has become a vital resource for assessing the environmental consequences of mining activities and facilitating reclamation initiatives. The increasing capabilities of high resolution satellites have enhanced our ability to oversee vast mining areas. These images are key to identifying and measuring vegetation loss, changes in land use, and pollution sources like acid mine drainage, allowing us to track contamination spread effectively.

Moreover, comparing before and after images helps evaluate revegetation projects and assess the long-term stability of mine tailings dams. Utilizing this data enhances the sustainability of mining practices and helps mitigate their environmental impact. Let’s see how that works by taking Australia for an example.

Gas Mining Effects On Farmlands

Australia, rich in unconventional gas reserves such as coal seam gas (CSG), faces a critical environmental dilemma. The accelerated extraction of CSG has led to soil subsidence, severely damaging vast tracts of agricultural land, particularly in Queensland where over 20 million hectares of farmland are jeopardized.

In response, the Australian government has adopted an adaptive management strategy to counteract these environmental hazards. This proactive approach includes stringent monitoring of environmental impacts and enforces corrective measures when adverse effects surpass predefined thresholds, particularly concerning groundwater drawdown.

Unfortunately, current legislation provides for compensation to affected landholders only within designated mining areas, posing a challenge for those experiencing damage beyond these boundaries.

While optical satellite data analytics offers limited direct observations of CSG impacts, it proves invaluable in tracking related phenomena, such as changes in soil moisture. Through platforms like EOSDA Crop Monitoring, landowners can utilize the Normalized Difference Moisture Index (NDMI) to detect increased soil moisture indicative of subsidence. By comparing these findings against traditional hydrological models, subtle yet significant alterations in drainage patterns and moisture accumulation can be identified, though linking them conclusively to CSG activities remains complex and outside current optical satellites analytical capabilities.

Progress Tracking

High resolution earth images offer a panoramic view into the operations of mining sites, providing pivotal data that maps the rhythm of production and shapes the logistics of the supply chain. This technological advantage allows for a precise overview of daily developments, granting operators the ability to monitor real-time progress, track the equipment, and observe ongoing activities with a goal of increasing efficiency and fine-tuning production outputs.

For example, operators harness satellite imagery not just for general surveillance but to meticulously oversee the day-to-day operations of mining sites. This includes the agile tracking of equipment movement and activity, essential for enhancing operational efficiency and maximizing production potential.

Moreover, satellite data plays a crucial role in quantifying the volume of minerals extracted. This information is instrumental in helping operators predict the lifespan of mining sites, schedule closures, and strategize remediation efforts, ensuring responsible management and environmental compliance.

The escalating reliance on satellite analytics within the natural resource sector underscores the industry’s pursuit of innovative solutions to navigate its operational complexities and environmental footprints. As satellite technology progresses, it becomes increasingly integral to resource extraction by promoting greater efficiency, safety, and sustainability. This evolution is poised to revolutionize natural resource management, heralding a new era marked by heightened efficiency and enhanced stewardship. 

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Listed on the Australian Securities Exchange (ASX), Base Resources is an African focused, mineral sands producer and developer.

Under the terms of the SID, each Base Resources shareholder will receive 0.026 Energy Fuels common shares and A$0.065 ($0.042) in cash as consideration. This represents an implied price of A$0.3 ($0.19) per base share.

Following implementation of the scheme, Energy Fuels and Base Resources shareholders will own nearly 83.6% and 16.4%, respectively of the enlarged company.

The acquisition will include Base Resources’ fully-owned advanced Toliara heavy mineral sands project in Madagascar.

Toliara comprises a long-life, high-value and low cost monazite stream, which is produced as a byproduct of primary titanium and zirconium production.

According to Energy Fuels, Toliara monazite production will be processed at its wholly owned White Mesa Mill into separated REE oxides, at low capital and operating cost.

Base Resources managing director Tim Carstens said: “This transaction reflects the exceptional quality of the Toliara project and the efforts of the Base Resources team over several years to advance the project towards construction readiness.”

As part of the deal, Energy Fuels will access Base Resources’ leadership and heavy mineral sands operations team.

The Base Resources team will continue to oversee the development and operation of Toliara as well as improve Energy Fuels’ heavy mineral sands teams in Australia and Brazil.

Energy Fuels president and CEO Mark Chalmers said: “The acquisition of Base Resources and the Toliara project represents a monumental leap forward for the Company, as we continue to execute on a truly revolutionary REE, uranium and critical mineral combined strategy.

“For the past four-plus years, Energy Fuels has innovated a new way to produce critical minerals, that we believe is more cost competitive than traditional approaches, by leveraging our uranium processing expertise and infrastructure to develop a secure, US-centric REE oxide supply chain.”

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The country’s investment fund Manara Minerals intends to invest in the copper gold project and may announce a preliminary agreement on the transaction terms within a few weeks, reported Bloomberg.

The news agency citing undisclosed sources with knowledge of the matter said that the country’s discussions for a minority stake in the Reko Diq project are at a very early stage and could still collapse or be postponed.

Manara Minerals is also expected to gradually raise its stake in the Pakistani copper and gold project.

Located near Reko Diq town in Chagai District, Baluchistan, the Reko Diq copper-gold project is said to be one of the largest undeveloped copper-gold projects in the world. It will require an initial capital of $7bn for its development.

Reko Diq is 50% owned by Barrick, and 25% by three Pakistani state-owned enterprises, while the Province of Balochistan owns 15% on a fully funded basis, and 10% on a free carried basis.

Barrick Gold intends to develop the project as a truck-and-shovel open pit operation with processing facilities producing a high-quality copper-gold concentrate. The Reko Diq project is expected to have a life of minimum 40 years.

The company plans to build the operation in two phases, with a combined process capacity of 80 million tonnes per annum.

First production from the Reko Diq copper-gold project is anticipated to be achieved in 2028.

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According to the study, the Yandanooka project will produce 1.04 million tonnes of heavy mineral concentrate.

Located nearly 300km north of Perth in the North Perth Basin, the project is a broad, dunal-style heavy mineral sands deposit.

Image Resources said that mineral sands project will utilise dry open cut mining methods.

The current capital estimates for the project presume the relocation of the existing Boonanarring wet concentration plant to Yandanooka. It is expected to require only minor upgrades.

In addition, the PFS estimates a before-tax net present value (NPV) of A$151m ($97m) and a pre-tax internal rate of return (IRR) of 72% with a capital payback period of 15 months.

Image Resources also aims to finalise to a bankable feasibility study (BFS) for the Western Australian mineral sands project this year.

The Australian mineral sands producer said that the estimated life of mine of the project is 8.2 years.

Image Resources managing director and CEO Patrick Mutz said: “The PFS results reflect a number of positive aspects of the deposit and development plans, including very shallow mineralisation, reasonable grade, high VHM, high-value mineral assemblage and very low capital costs due to the use of existing equipment from Boonanarring.

“In addition, Yandanooka has the shortest development timeline of any of the other projects in Image’s portfolio due to fewer heritage and environmental sensitivities.”

Last year, Image Resources estimated a direct capital expenditure (capex) of A$194m based on the findings of the PFS for its fully-owned Bidaminna mineral sands project in Western Australia.

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Rick Howes, President and CEO of Reunion Gold, stated “I am pleased to have executed our Mineral Agreement with the Government of Guyana. This significant milestone marks an important de-risking step towards the development of the Oko West Project and underscores the robust support extended by the Government of Guyana towards the project’s development.”

As part of the agreement, the Company has committed to prioritizing the employment of qualified and suitable Guyanese individuals and to supplement this by implementing a comprehensive training program to develop the additional skills required to facilitate the employment of Guyanese personnel at all levels of operations. The Company believes that fostering and training local talent will contribute to the sustainable development of the country.

In addition to its commitment to workforce development, the Company has agreed to establish a financial support program for environmental and social projects. The Company will fund US$1,000,000 per year towards initiatives that promote environmental sustainability and address social needs within surrounding communities. This commitment will start upon commencement of commercial production or within 24 months from the issuance of a mining license, whichever would come first.

All of these initiatives highlight the Company’s dedication to sustainable mining development, which minimizes environmental impacts, positively impacts the communities we work in and creates lasting benefits for Guyana.

The Company is moving forward with development studies to advance Oko West towards a construction decision. As part of this work, it expects to complete a preliminary economic assessment by mid-2024, which will provide an estimate of the key economic parameters of the project.

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According to multiple news reports, the Biden administration is expected to deny permission for a 211-mile (340km) industrial road that leads to a large copper deposit.

The industrial road project runs through the Arctic National Park and Preserve, a major piece of protected land in the northern half of the state.

The proposed move is anticipated to end a long-term conflict between local tribes, opposing the project due to its impact on subsistence hunting, a part of some tribal lifestyles across the state.

The project was also a centre for controversy as it was approved a few days before Donald Trump left the US presidential office.

It was approved by the head of the Department of Interior who was found to have covered up environmental and tribal impacts studied as part of the planning process, reported Politico.

With the refusal of the permit for the construction of a road, large copper and zinc deposits in northwest Alaska, dubbed Ambler Mining District, will lack road access and supply chain.

Ambler Mining District is anticipated to produce minerals that are key components in the production of batteries and engines for electric vehicles.

The Tanana Chiefs Conference, a group representing several tribal villages, had fought against the project and warned that the road and related mines would pose impacts on the ecosystem.

The project would impact the fish in-migration and out-migration, spawning and rearing habitat, and will compromise species at risk like Chinook.

Conference said: “The Ambler Road will pierce the heart of the hunting and fishing lands that our people have depended on for thousands of years.

“The road alone would cause harmful impacts along 125 miles and 200,000 acres of public lands managed by the State in trust for its people. The Ambler Road project would be one of the biggest and most destructive in the State’s history.”

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The project is situated in the historically significant copper/gold fields of the Tennant Creek region in the Northern Territory.

It is anticipated to yield essential and valuable minerals downstream, including gold, 99% copper, 99% cobalt, and high-grade 96.5% magnetite.

The major project status status has been awarded to the Australian IOCG project for its potential to contribute to the economic development of the Northern Territory by generating direct employment and business opportunities to service providers.

Northern Territory Chief Minister Eva Lawler said: “The Territory Labor Government is developing a thriving economic landscape, and our rich critical minerals market is key to unlocking it.

“Castile Resources’ Rover 1 project is exciting for many reasons ranging from the economic benefits to job creation and their steadfast commitment to maximising outcomes for the local community of the Barkly”.

The Rover 1 project’s status includes the establishment of a dedicated project control group to coordinate all key government departments’ involvement in the project.

It also involves the commitment from Castile Resources and the Northern Territory government in proactively identifying and seeking to address, reduce, and manage relevant issues for each stage of the IOCG project as required.

The major project status will also provide Castile Resources with assistance in facilitating the final investment decision for the Rover 1 project.

Castile Resources managing director Mark Hepburn said: “Our strategy of producing downstream critical minerals in the Northern Territory is strongly aligned with the Northern Territory Governments goal of becoming a major hub for mining, processing, and refining of critical minerals for the 2050 net-zero transition.

“We aim to develop a sustainable mining and processing operation that benefits all our stakeholders and shareholders.”

Castile Resources and the Northern Territory government plan to commence work by convening the project control group as early as possible and advancing the Rover 1 project towards development.

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Ken Brinsden, President and CEO of Patriot commented: “The guidelines for the Corvette project outline MELCCFP’s requirements for the Project’s Environmental and Social Impact Assessment (ESIA) and provide the Company with the roadmap to completing the ESIA. We are eager to continue our baseline data collection which started in 2022 as we advance the permitting and study phases of Corvette.”

Alix Drapack, Vice President of ESG, Patriot, commented: “The guidelines from COMEV were clear and consistent with other proposed mining projects of this scale and nature in Eeyou Istchee and were as expected. We are looking forward to continuing our discussions on the Project with the tallyman and his family and the Cree community of Chisasibi.

The Company is currently evaluating the Corvette Project as a potential hard rock spodumene mining operation.  The Company is well-funded and is carrying out an intensive in-fill drilling on CV-5 this winter and a regional exploration campaign on the Corvette area during the summer and fall season.  An updated NI 43-101 resource estimate on the Corvette project is planned for release in CYQ3 2024.  The Company commenced collection of environmental baseline data at the Project in 2022 and will continue to collect data in accordance with the newly received guidelines.  The Company will provide regular updates on the progress of the work programs associated with the completion of the ESIA and submission of the ESIA is anticipated in late 2025.

The Corvette Project is highlighted by the CV5 Spodumene Pegmatite which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. The CV5 Spodumene Pegmatite is located approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure, and approximately 50 km from the La-Grande 4 hydroelectric power station in the Eeyou Istchee James Bay region of Quebec (Figure ).

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