06-Sep-2022: I received a phone call followed by an email from someone at Aspermont Media today who are the publishers of Mining News (.net) and The Mining Journal, and a few other physical and online titles (and websites) - and after establishing that the main metals that interested me at this point are gold, copper and nickel, I was sent links to a number of apparently "recent" presentations by gold and copper companies, or companies who are in the process of developing gold and/or copper projects. The main one that caught my attention was Yandal Resources. I have held shares in YRL previously (IRL) - and they have also previously been one of the smaller positions in my Strawman.com virtual portfolio, but I don't hold them currently. For those who are interested in an up-and-coming Australian gold project developer with some interesting projects, here is a link to their presentation:

Yandal Resources (weblink.com.au)

Plain Text Link: https://wcsecure.weblink.com.au/pdf/YRL/02533832.pdf

That one actually took a while to load - here's the link provided by the ASX back in June when that Presentation was first uploaded to the ASX announcements platform (it gets you to the same presentation, but it may load more rapidly):

Gold Coast Investment Showcase Presentation

Plain Text Link: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02533832-6A1096542?access_token=83ff96335c2d45a094df02a206a39ff4

And here's some more recent announcements from Yandal:

06-Sep-2022 (today): Initial Mineral Resource Estimate of 75,000oz Au at Success

22-Aug-2022: Initial Resource Estimate of 44,000oz Au at Challenger

03-Aug-2022: Major Drilling Program Underway at Yandal Belt Prospects

29-July-2022: June 2022 Quarterly Activities and Cashflow Report

21-July-2022: Heritage Approval Received at Priority Yandal Belt Prospects

11-July-2022: New High Grade Gold Drill Results - Gordon's Project

They're busy little vegemites, with a fair flow of news to the market, but it's hard to sustain interest currently when the gold sector is not particularly liked by the overall market, and explorers and project developers are at the bottom of the pile anyway.

Quite a typical chart for the gold industry actually. Despite their lackluster share price performance over the past 12 months, they have some smart money on their share register:

That's a fair amount of institutional support for a tiny $22m company. And that was in June. At yesterday's closing price (15.5c/share) the ASX has them listed as having a market capitalisation of just under $18m (i.e. $17.99m). They are interesting. Not held, but back on my watchlist.

Encouraging results from Malone prospect:

•  3m @ 8.16g/t Au from 130m including 1m @ 22.05g/t Au (YRLRC0579) 
• 5m @ 3.59g/t Au from 47m including 1m @ 12.30g/t Au (YRLRC0584)  
• 18m @ 0.90g/t Au from 94m including 2m @ 4.67g/t Au (YRLRC0583) 

MD, Lorry Hughes said:

“These are the highest RC grades to date from the Malone prospect, the results, particularly from within the primary zone give us strong encouragement that further drilling at depth and along strike could significantly extend the mineralisation....................  

In addition the Air-core program continues to intersect significant gold at or near the fresh rock boundary which could represent mineralisation zones sub-parallel to the Malone contact therefore providing further high-priority RC and diamond drilling targets.  
Assay results are pending from 54 RC and 142 Air-core holes which have been completed along the majority of the 4.5km Malone contact zone and adjacent prospect areas. "

DISC - HELD

DGO has increased their stake in YRL, to a 19.9% holding, via an off-market trade at 48 c per share. 

DISC - I HOLD

Key takeaways:

1) Presentation states Yandal has ground with the potential to host +5 million ounce deposits, repeating DGO Gold's reason for taking a strategic stake in the company.  ASX SUBSEQUENTLY REQUESTED THIS SLIDE BE EDITED, AS THESE RESOURCES ARE UNPROVEN.    

2) Compared the Gordons discoveries to Kanowna Belle (a +10 MOz discovery). AGAIN, ASX REQUESTED THE REFERENCE TO +10MOz TO BE DELETED, AS IT IS UNPROVEN).

3) $8.4 M in cash + options as at the end of March.  

4) Very low discovery cost per ounce.   

DISC - HELD.      

Yandal released a significant update today regarding their Gordons Dam exploration.   

Managing Director, Lorry Hughes said:

"Exploration will continue to target large extensions of the intrusion as it is believed it has intruded into a major gold bearing structure. Further drilling and data analysis is required to ascertain the main controlling features on the mineralisation and an expert structural study is planned during May/June to aid the definition of high-impact mineralisation targets going forward”

Yandal believe they have located a major gold find.  NST, on aA neighbouring lease, also had significant, high grade strikes.  

At the same time, Datt Capital have increased their holding to 8.4%.   

DISC - I HOLD

DGO Gold has increased their stake to 14.26%, up from 8.69%, primarily through an off-market purchase of 4.4 M shares @ 45c per share on 7/4/2021.   It will be interesting to see who the seller is.....

DISC: I HOLD

Attached is an excerpt from DGO Gold's most recent presentation.   

They screened more than 100 WA gold explorers, and have invested in Yandal as one of three explorer investments to date. 

Their selection criteria includes potential for +5 million ounces.  If YRL turns out to be a Tier 1 resource, it is incredibly cheap.   

They report YRL's historic doscovery cost is $16/oz of gold. 

DISC - I hold a small position (high risk - capped at 2%) 

Yandal Resources is a unique explorer in that is does not just have one mining tenement / site with great potential, it has many:

1. Ironstone well - Flushing Meadows.  MRE - 268 kOz as at 4/11/2020.  No drilling done since MRE. 
2. Ironstone Well - Flinders Park. Shallow, high grade intercepts reported on 9/3/21 (incl.  14 m @ 4.39 gms/Tonne from only 45 m). 
3. Ironstone Well - Oblique.  High grade intercept identified at end of hole, reported on 9/2/21. 
4. Ironstone Well - Quarter Moon.  high grade intercepts reported on 9/3/21 (incl.  12 m @ 2.05 gms/Tonne from only 5 m).
5. Barwidgee - Result pending. 
6. Mt McClure - 
7. Gordons prospect - Gordons Dam - Shallow, high grade intercepts reported on 24/2/21 (incl.  33.75 m @ 1.11 gms/Tonne from 62 m).  More results pending.
8. Gordons prospect - Mulgarrie North. rsult pending. 
9. Sims Find - Shallow, high grade intercepts reported on 2/3/21 (incl.  8 m @ 24.3 gms/Tonne from only 9 m). 

I like the diversified exploration portfolio Yandal enjoys, which gives it multiple ways it can win.  

DISC - I hold a little. 

High Grade intercepts - Flinders Park, Quarter Moon, and Oblique

Flinders Park Prospect 
? 14m @ 4.39g/t Au from 45m including 1m @ 42.47g/t Au from 52m (YRLRC474) 
? 13m @ 2.90g/t Au from 36m including 1m @ 21.05g/t Au from 36m (YRLRC473) 
Quarter Moon Prospect 
? 2m @ 11.17g/t Au from 80m (YRLRC478) 
? 12m @ 2.05g/t Au from 5m including 1m @ 16.47g/t Au from 8m (YRLRC479) 
? 2m @ 7.14g/t Au from 83m including 1m @ 13.99g/t Au from 83m (YRLRC475) 
Oblique Prospect 
? 21m @ 0.90g/t Au from 51m including 4m @ 1.87g/t Au from 68m to end-of-hole (YRLRC481) 

Lorry Hugher said: "Our exploration team see high potential to rapidly expand our Resources, the Company has significant cash reserves and we are in the process of implementing exploration strategies to reach that goal. 
Yandal’s projects are located close to major deposits and considered underexplored due to the vast majority of historic drilling being too shallow to provide an effective test."

Assay results from shallow RC drilling at the Sims Find prospect, located 47km north of 
Bronzewing, demonstrate the potential of a >10km long priority target zone. Best results 
include; 
? 8m @ 24.30g/t Au from 9m including 1m @ 129.00g/t Au from 12m (YRLRC457) 
? 3m @ 20.85g/t Au from 30m including 1m @ 62.25g/t Au from 30m (YRLRC447) 
? 5m @ 6.53g/t Au from 17m including 1m @ 30.40g/t Au from 17m (YRLRC445) 
? 2m @ 12.27g/t Au from 37m including 1m @ 24.03g/t Au from 37m (YRLRC432) 
? 2m @ 9.06g/t Au from 48m including 1m @ 17.90g/t Au from 48m (YRLRC450) 
? 7m @ 3.50g/t Au from 23m including 1m @ 12.05g/t Au from 26m (YRLRC433) 
? 5m @ 3.33g/t Au from 22m  including 1m @ 8.15g/t Au from 23m (YRLRC440)

Sims Find area has had a disjointed ownership and exploration history.   It looks like YRL have a unique opportunity to consolidate and build upon early stage exploration and reconnaissance that was never followed up by previous tenement owners. 

Lorry Hughes presented to Practive CEO Investor Sessions - Gold Webinar.  Link is here. 

In the presentation, Lorry outlined their 100 000 metre drill program for the year, and their development strategy.  

The key takeaways are: 

1) Lorry is targeting to increase their mineral resources to 600 - 750 k ounces (174 k presently) this year.   

2) Toll charges for mining will be $40-60 per tonne.  i estimate the economic cut-off for open cut to be about 1 gram AU/Tonne @ $2400 AUD per AU ounce.   

3) Lorry will consider a JV to develop the mine - given the lack of development experience Yandal has.  

I expect Yandal to aggressively increase their Resources/reserves over the next 12-24 months, with a view to attracting a JV partner to develop their tenements.  If Yandal can increase their resources to, say 675k of ounces, they look cheap indeed at these prices.   

Given the great results reported of late, Lorry's 2021 goal looks achievable.  I think Yandal is worht a specualtive bet at these prices.  

Yandal Resources has updated their Mineral Resources for the Flushing Meadows Prospect.   Key takeways:

1) Mineral Resource increased to 174 k Oz @ 1.0 g/T cut-off (up from 147k oz of a year ago).  

2) 109% increase in the higher confidnece indicated resource category. 

3) From my review, 6231 metre of RC drilling, and 3769 of AC drilling undertake to verify resource increase.  

Assuming drilling costs of $105/metre, the exploration cost per ounce is abotu $47 per ounce.   Seems a little high, but the ore will be cheap to mine.   I think a 1 g/tonne cut-off is a safe number, given mining ore costs will be about $40-50/Tonne.  

Assuming 60% of the gold is mineable, and YRL can generate $1000 per mined ounce cashflow, the Resource is worth about $100 M AUD.    

With Gordon's Dam the second priority for development,  7 km of RC drilling has been completed, with results pending.  Follow initial high grade hits, the drilling program has been expanded.   Gordons Dam maiden mineral resource estimate is due for released before the end of the year.   

12-Oct-2020:  Gordons Dam Site Visit - Investor Presentation

New shallow high grade RC drill intercepts include; 
? 1m @ 73.12g/t Au within 8m @ 11.03g/t Au from 36m (YRLRC0335) 
? 1m @ 15.13g/t Au within 7m @ 3.48g/t Au from 38m (YRLRC0337) 
? 1m @ 10.34g/t Au within 7m @ 1.73g/t Au from 29m (YRLRC0339) 

MD, Lorry Hughes saud:

“The potential to define an initial shallow Mineral Resource and subsequent open pit development is becoming clearer as infilling wide-spaced reconnaissance holes with high quality RC holes is proving successful."

Yandal may become a gold developer/miner sooner than investors realise......

Really interesting interview - essential for holders.  

https://www.youtube.com/watch?v=maKNyI_qiUI&feature=emb_logo