Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) is pleased to announce it has successfully negotiated a surrender of its Bibra Lake lease (ASX: 31 July 2024), resulting in approximately $350k in savings per year.

Highlights:

Bibra Lake lease surrendered resulting in ~$350k annual savings.Adisyn to continue providing data centre solutions through third-party providers.Consistent with Company’s strategy of reducing costs and moving to capital light model.Continued focus on strategic partnerships to deliver next generation data centre and cybersecurity solutions in an AI-driven world.The lessor has agreed to indemnify Adisyn against any potential damages if found liable in the legal matter with Cannontech Technologies Ltd.

The Company will continue to offer data centre services to new and existing customers through the use of third-party data centre providers, and will look to relocate all existing profitable customers to an alternative data centre in Perth, where those customers will continue to be serviced by Adisyn.

Adisyn will undertake the decommissioning and sale of plant and equipment at the Bibra Lake site, the cost of which it expects will be offset by proceeds of sales of the decommissioned plant and equipment.

The move is consistent with Adisyn’s focus on moving to a capital lite model (ASX: 15 Apr 2024, 1 May 2024), and provides the Company with the ability to prioritise it’s business development efforts towards SME’s in the defence industry supply chain, and continue engaging in strategic partnerships to develop solutions that leverage the Company’s learnings in data centres and cyber security, such as the collaboration with 2D Generation (ASX: 15 July 2024).

AI1 Managing Director Blake Burton said: ‘We’re delighted with the outcome of our negotiations which will allow AI1 to reduce expenses while being able to deliver capital light data centre and cyber security solutions to our customers. In addition, it frees up time and resources to apply to strategic collaborations, including with 2D Generation, where we can use our learnings from data centres to develop data centre and AI related technologies to solve current industry challenges.’

Update on legal proceedings

On 17 March 2023, the Company announced it had been named as second defendant in a dispute between the lessor of the Bibra Lake Premises, and Cannontech Technologies Ltd, in respect of the ownership of certain equipment located at the Premises (‘Legal Matter’). Further updates were provided to the market in announcements dated 29 September 2023 and 28 February 2024.

As a condition of the surrender of lease, the lessor has agreed to indemnify Adisyn against any potential exposure to damages for the Legal Matter in the event that Cannontech Technologies Ltd are successful in their proceedings. Adisyn will also file a notice of intention to abide, the effect of which is that Adisyn will not take any further part in the Legal Matter and accept any order made by the Court with the benefit of the indemnity from the lessor.

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Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) ) is pleased to provide an update on the strong progress being made as part of the commissioning and production ramp up at its Honeymoon Uranium Mine.

Highlights

Operations

First NIMCIX production column achieves nameplate uranium productionA total of 72,516lbs of uranium produced in the months of July and AugustPreliminary updates on costs to be provided once the second and third IX circuits (NIMCIX columns) are commissioned

Construction

NIMCIX production column 2 constructed with hydrotesting completedWet commissioning and sequence testing of column 2 underway, on target for production in September 2024 as scheduledSecond wellfield being flushed in preparation to supply Pregnant Leach Solution (PLS) to column 2RO Plant 2 commissioned and operating in line with expectationsConstruction of NIMCIX column 3 on target for commissioning and production in December quarter, 2024

Boss Managing Director Duncan Craib said: “We continue to meet or exceed all of our key targets and are comfortably on track to meet our production guidance.

“The first IX circuit is now operating at nameplate capacity, proving that the technology works at the rate and scale forecast in the Feasibility Study. This is a pivotal point in the project’s development. “Commissioning of the second IX circuit is underway and construction of the third is advancing rapidly.

“Supplies of the pregnant leach solution, grades and extraction rates are meeting or exceeding our targets and overall uranium production rates are rising in line with the schedules in the Feasibility Study”.

Honeymoon Production Results for months of July and August 2024

On 22 April 2024, the Company was pleased to announce a major milestone with production of the first drum of uranium at its 100 per cent-owned Honeymoon Uranium Project in South Australia.

As expected, and in-line with Feasibility Study forecasts, Honeymoon’s production continues to increase as set out in the results for the combined months of July and August 2024.

In August 2024, NIMCIX column 1 achieved nameplate production.

Bringing each new NIMCIX production column online will result in a proportional increase in production and lower the cost per pound produced.

Notes: (1) Conversions: There are 1,000 litres per m3 and 0.0000022 lbs per mg. (2) The weighted average is calculated based on total flow for the quarter.

Plant recovery continues to improve with production optimisation. The variance between IX Production and U308 drummed is due to a build-up of inventory in circuit as well as losses from the circuit. During commissioning and ramp up, losses from the precipitation and dewatering circuits were higher than design which has been a focus for the operations team over the previous month. Losses have been reduced to circa 3.5% in August as improvements were, and continue to be, implemented.

It is important to note that while the tenors being achieved from initial wellfields exceed the average LOM tenors forecast in the Feasibility Study1, the project is still in the ramp-up phase and therefore these tenors should not be extrapolated across the LOM. Boss’ production guidance remains based on the forecast tenors contained in the Feasibility Study.

Given the time taken to ramp-up wellfields in ISR projects, preliminary cost updates will be provided once columns 2 and 3 are commissioned.

Since acquiring Honeymoon in December 2015, Boss has invested significant time and capital in making technical improvements to the project. Boss has now been able demonstrate that the first NIMCIX column can operate at nameplate uranium production which adds confidence that the Company will meet its FY25 production target of 850,000 lbs of U308 as set out in Feasibility Study.

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C29 Metals Limited (“C29” or the “Company”) is pleased to announce that its application for the northern tenement has been granted in 48 calendar days.

HIGHLIGHTS

C29 Metals has received notification that’s its application for the northern tenement for the Ulytau Uranium Project located in Kazakhstan has been granted.The tenement granting process has been completed in 48 calendar days further demonstrating the efficiency of the Government agencies and their support for the Company’s activities.The northern tenement sits to the north of the Ulytau Uranium Project tenement and immediately north of the historic Bota Burum Uranium mine.The northern tenement is interpreted as having a similar mineralised trend to that of the existing Ulytau Project area1.C29 Metals will immediately commence the exploration approval process for this new northern tenement.The approval for the Company’s planned exploration drilling programs at the Ulytau Uranium Project is at an advanced stage & is on track.

The Northern application sits to the north of the Ulytau Uranium project tenement and immediately North of the historic Bota Burum Uranium mine. The Northern licence application area is ~39 km2.

The northern tenement is interpreted as having a similar mineralised trend to that of the existing Ulytau Project area1.

C29 Metals Managing Director, Mr Shannon Green, commented:

“Another very exciting step in executing our stated strategic plan for rapid growth with this highly prospective application being granted in such a rapid timeframe. Continuing to demonstrate the positive operating environment in Kazakhstan and the support the Company is receiving”.

Figure 1 below shows the interpreted mineralised uranium trend with the newly granted tenement.

Project Location and History

The Ulytau Uranium Project is located in the Almaty Region of Southern Kazakhstan approximately 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union. Exploration for uranium has been carried out in the area since 1953. Production of Uranium at the Bota Burum mine next to the village of Aksuyek commenced in 1956 and continued until 19912.

Total mined reserves of Bota Burum are quoted at 20,000 tonnes of Uranium (44 million pounds)2,3.

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Chariot Corp Limited (ASX:CC9) (“Chariot”) refers to the announcement dated 30 August 2024 entitled “Chariot and Mustang Lithium LLC repossess Horizon and Halo lithium projects” (the “Original Announcement”) pursuant to which the Company announced that Mustang Lithium LLC (“Mustang”), in which Chariot holds a 24.1% interest, was in the process of terminating property option agreements entered into by two of its wholly-owned subsidiaries, Horizon Lithium LLC and Halo Lithium LLC, with Canadian Securities Exchange (CSE) listed Pan American Energy Corp. (CSE:PNRG) (“Pan American Energy”) and POWR Lithium Corp. (CSE:POWR) (“POWR”), respectively. This action by Mustang will result in Horizon Lithium LLC’s and Halo Lithium LLC’s repossession of full and unencumbered ownership of the Horizon Lithium Project and Halo Lithium Project, respectively.

As disclosed in the Original Announcement:

Each of Pan American Energy and POWR decided not to make the required payment of claims maintenance fees to the U.S. Bureau of Land Management (“BLM”) and to surrender their respective interests in the mineral claims constituting the Horizon Lithium Project and the Halo Lithium Project (together, the “Projects”). Both have cited current lithium market conditions as the principal reason for terminating their respective property option agreement.Mustang completed a capital raising of US$250,000 through the issue of convertible notes and has used the funds raised to pay the maintenance fees to the BLM to maintain its interest in the Projects.

Chariot disclosed the mineral resource estimate stated in Figure 1 (the “Horizon NI 43-101 Mineral Resource Estimate”) in relation to the Horizon Lithium Project in the Original Announcement which was prepared by Pan American Energy in accordance with Canadian National Instrument 43-101 (“NI 43-101”) standards. This mineral resource estimate is considered a “foreign estimate” for the purposes of the ASX Listing Rules (“Listing Rules”) as it relates to a “material mining project” that the Company is reacquiring an interest in and therefore is required to be reported in compliance with Chapter 5 of the Listing Rules (particularly Listing Rule 5.12). The purpose of this announcement is to include the requisite disclosures required by Listing Rule 5.12 in respect to the Original Announcement.

Pan American Energy reported the Horizon NI 43-101 Mineral Resource Estimate to the Canadian Securities Exchange on 20 November 2023 and subsequently released an NI 43-101 compliant technical report on 4 January 20241.

Effective Date 15 November 2023, reported by Pan American Energy Corp. Resources are reported above a cut-off grade of 300 ppm Li.

Cautionary Statement

A “mineral resource” is as defined in the JORC Code (“Mineral Resource”) and the “competent person” is as defined in the JORC Code (the “Competent Person”).

The Horizon NI 43-101 Mineral Resource Estimate contained in this announcement and the Original Announcement has been prepared in accordance with NI 43-101 standards and has not been reported in accordance with the JORC Code.

Investors and other users of the Horizon NI 43-101 Mineral Resource Estimate are cautioned that, as is the case with any Mineral Resource, reported tonnages and grades obtained from sparse points of observation, are subject to change as further data that adds to knowledge of the Mineral Resource are received and interpreted. The reported Mineral Resource may also be subject to variation when compiled by a different Competent Person, reflecting differences in interpretation of available data and previous experience with the commodity and style of mineralisation being reported.

The reported tonnes and grades have been reported and classified in compliance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (CIM, 2014). The CIM Definition Standards are closely comparable with the JORC Code.

The Competent Person for this announcement has yet to complete sufficient work to classify the foreign estimate in accordance with the JORC Code.

However, the Competent Person confirms that the information contained in this announcement and the Original Announcement is an accurate representation of the available data and studies for the Horizon Lithium Project.

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Turkey is looking to collaborate with China on rare earths processing as part of a broader initiative to bolster the country’s presence in the electric vehicle (EV) and battery markets.

According to Bloomberg, the initiative is a strategic move that Turkey hopes will enhance its appeal to Chinese manufacturers, including major companies like BYD (OTC Pink:BYDDF,SZSE:002594), the world’s largest EV producer.

Under the leadership of President Recep Tayyip Erdogan, the Turkish government has been proactive in seeking Chinese involvement in the exploitation and processing of rare earth elements.

In 2022, Turkey discovered a large deposit of the critical metals in Beylikova, near Eskisehir in Central Anatolia.

Since then, Turkey has positioned itself as a potentially key player in the global rare earths supply chain, targeting various high-tech applications such as EVs and renewable energy technologies.

The country is hopeful that it can go beyond being only a rare earths supplier, and is seeking to establish a comprehensive value chain that includes processing, manufacturing and final production stages.

A successful partnership with China — a global rare earths and EV powerhouse — could position Turkey as a more attractive destination for Chinese companies looking to expand their manufacturing capabilities.

In line with these efforts, Turkey plans to send Energy Minister Alparslan Bayraktar to China in October to engage in advanced discussions with officials in the country. The delegation will aim to finalize details regarding the collaboration as both nations explore opportunities for cooperation in the rare earth elements sector.

The upcoming visit will follow Erdogan’s earlier discussions with Chinese President Xi Jinping in Kazakhstan, where they explored the potential for joint development of Turkey’s rare earths deposits.

If successful, the partnership will come at a time when China is tightening its grip on its rare earths sector — the Asian nation recently announced plans to implement stricter regulations on the mining, smelting and trading of rare earths.

These new rules, which will be effective starting on October 1, emphasize state ownership of rare earths resources and require detailed traceability for all enterprises involved in the sector. The regulations also include restrictions on the export of technology related to rare earth magnets, which are vital for EVs and other advanced technologies.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Labyrinth Resources Limited (‘the Company’ or ‘Labyrinth’) provides an update to the entitlement offer timetable which was initially announced on 17 July 2024.

Amendments to the timetable have been made given the initial estimated date of the Extraordinary General Meeting of Shareholders (‘EGM’) for the transaction has been moved to Friday, 13 September 2024.

The updated timetable for the entitlement offer is as follows:

The above dates are indicative only and subject to change.

For further details, refer to the Company’s Notice of EGM lodged with the Company’s ASX platform on 14 August 2024.

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Silver found momentum in the first half of 2024, breaking through US$30 per ounce for the first time since 2012.

The white metal’s strong price gains came as high industrial demand met with precious metals investors entering the market amid global uncertainty and speculation of a rate cut from the US Federal Reserve.

Gold has also performed strongly during the year, setting several new all-time highs.

Although silver has declined from its year-to-date high of US$32.27 on May 20, it has stayed relatively close to the US$30 mark, and higher prices have provided strong fundamental support for silver miners.

Below is an overview of the five largest silver-mining stocks by market cap as of August 29, 2024, as per data gathered using TradingView’s stock screener. Read on to learn more about their activities and operations.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

As September begins, gold is facing a familiar challenge — the month is historically marked by price declines.

Despite its strong performance so far this year, which has seen the yellow metal reach an all-time high of US$2,531.70 per ounce, market participants are now closely watching whether these gains will persist.

According to Bloomberg, since 2017 the precious metal has consistently suffered a ‘September curse,’ averaging a 3.2 percent decline during the period — the steepest drop of any month in the year.

September is also typically the worst month for US stocks, but a strong month for the American dollar.

This pattern has raised concerns among investors and analysts alike, who are debating whether the factors that have bolstered gold throughout 2024 will be able to counteract its typical seasonal weakness.

A key driver behind gold’s price surge has been geopolitical uncertainty, particularly Russia’s ongoing conflict with Ukraine and tensions in the Middle East. These factors have heightened demand for gold as a safe-haven asset.

Expectations that the US Federal Reserve will cut interest rates have also boosted gold. Anticipation of these cuts has bolstered its price by reducing the appeal of the US dollar, which traditionally has an inverse relationship with gold.

‘We still see very significant value in long gold positions, and maintain our bullish $2,700 forecast for 2025. Fed rate cuts are poised to bring Western capital back into the gold market,’ Lina Thomas, commodities strategist at Goldman Sachs (NYSE:GS), told Reuters last month. The Fed’s next meeting will run from September 17 to 18.

The reason for gold’s recent September dips may be related to a ‘sell in May and go away’ philosophy from traders. Bloomberg notes that some choose to buy gold to hedge against volatility while they are on vacation, only to offload their positions when they return in the fall and can participate the market more actively once again.

With that said, gold isn’t guaranteed to go down — the news outlet states that using a timeframe of three decades gold has actually risen in September. And there are a number of other factors that could help it sustain high levels.

Central banks, particularly China’s central bank, have been significant buyers of gold, a trend that has provided strong support for the metal. China’s gold-buying spree lasted 18 consecutive months until April of this year, and although it’s now taken a pause, the potential for renewed purchasing remains from the Asian nation and others remains.

As September continues, the question remains whether this and other supportive factors will be enough to offset the historical trend of declines. The outcome of the Fed’s meeting later this month, alongside geopolitical developments, will likely play a crucial role in determining whether gold can break the ‘September curse’ this year.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

As the market moves into the second half of year, the lithium sector has continued to experience challenges.

However, after 2023’s broad fluctuations, the lithium sector exhibited greater stability in the first half of 2024.

While oversupply and weak prices kept some companies from registering large gains during the period, others saw share price growth. Read on to discover which lithium-focused companies on Canadian and Australian exchanges have performed the best in 2024.

The list below was generated using TradingView’s stock screener, and data was gathered on August 27, 2024. While US lithium companies were considered for the list, none were up year-to-date at the time data was gathered. All lithium stocks had market caps above $10 million in their respective currencies when data was gathered.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.