1st Tundulu Assays: 91m @ 1.51% TREO, 1,000m hole next: Paul Williams, MD AuKing Mining (ASX: AKN)
LEVRDShow Notes
AuKing Mining (ASX: AKN) has spent five months turning itself into a Malawi rare earths company. Managing Director Paul Williams joins LEVRD to go through the first assays from Tundulu, the six projects bought from Tusker Minerals, how the basket stacks up against Lindian's Kangankunde and Mkango's Songwe Hill, and how a company with A$1.33 million in the bank funds a maiden resource.
WHAT WE COVERED
- Five months, six projects — what AuKing is turning into
- The Tusker Minerals relationship and how the Malawi deals came together
- A$2.15M of deferred cash owed to Tusker — when it falls due and where it comes from
- The 30 September GEL long-stop and ASX Chapter 11 re-compliance
- First assays: 91m @ 1.51% TREO from 40m, including 15m @ 3.40%
- Three holes down, 28 to go — the read-through to the rest
- 26NH014 and the southern magnetic low step-out
- NdPr at ~14% of the basket against Kangankunde's 20.3%
- The heavies: 8m @ 16.09% HREE+Y/TREO, 42m @ 11.46%
- Where Tundulu's thick-and-moderate holes really sit
- More heavies for less NdPr — is that the trade on offer?
- Maiden MRE before the end of the year — still live?
- Songwe Hill at 38.1Mt @ 1.15% — the closer comparator?
- The newly approved 1,000m hole and what it's chasing
- Whether historical drilling goes into the maiden resource
- Karonga, and the copper spin-off on the table
- GBA Capital's A$9.14M option underwrite at 3c, with the stock at 1.5c
- The termination triggers and the 11.8% fall on 10 September
- Which catalyst actually moves the stock
LEVRD Partners
WA WATER BORES
The best water drillers in Australia
James Harrington - 0429 695 538
https://www.wawaterbores.com.au/
MINING SELECT
Find a Mining job RIGHT NOW!!
https://www.miningselect.com.au/
Download the app and start the hunt
LEVRD Socials
X ► https://x.com/mattmichaelOG
Instagram ► https://www.instagram.com/levrdmatty/
Tiktok ► https://www.tiktok.com/@levrdmatty
Facebook ► https://www.facebook.com/levrdtrading
Linkedin ► https://www.linkedin.com/company/levrd/
This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573.
Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs.
Do not follow my trades, they are for entertainment purposes only.
CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video.
FSG: https://levrd.live/pages/fsg
This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy.
While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only.
Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given.
No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.
More from LEVRD
Eight days after its first 160Mt Indicated resource, Critica (ASX: CRI) put a A$2.0 billion post-tax NPV and a 48% IRR on its Jupiter rare earths project in WA. Jacob Deysel joins LEVRD to stress-test the Scoping Study: the price deck, recoveries, acid, funding and who actually buys the product.
AuKing Mining (ASX: AKN) has added Greenland to its Malawi rare earths story. MD Paul Williams returns to LEVRD with Exploration Manager Ian McBride to unpack the Qeqertaasaq niobium-rare earths earn-in, the deal terms, the uranium question and where the Tundulu maiden resource stands.
Power Minerals (ASX: PNN) has drilled its best hole yet at Morro do Ferro. MFSR-057 returned 111m @ 8.25% TREO from surface, including 51m @ 15.4%, with a peak sample of 40.5% TREO - the highest ever recorded on the project. Alistair Stephens is back with LEVRD to unpack the result, the assays still at the lab, the road to a maiden resource and why the share price hasn't followed the drill bit.
In January, Ballard Mining (ASX: BM1) said it was fully funded to FID. Now it has raised A$45 million at 66c, plus an SPP, in what it calls a challenging market. MD Paul Brennan joins LEVRD to explain why now, the A$28 million village going up before FID, pits first at Mt Ida and the road to a mid-2027 decision.
BOA Resources (ASX: BOA) has roughly doubled since MD Graeme Purcell last joined LEVRD. With 23 of 46 Ricci Lee holes now back, including 10m @ 3.60% Cu from 31m in today's results, he's back to talk shallow copper, a second lode, grade at depth and the timing of a maiden resource.