NTM has a current resource of 12.5 million tonnes grading 1.34 grams per tonne gold for 540,000 ounces, and a previously stated exploration target for an additional 14.4-21.5Mt at 1.8-2.5gpt for between 840,000oz and 1.7 million ounces.
Its current focus is the Hub prospect with aircore drilling in April outlining mineralisation striking over 1000m and featuring “high grades and depth continuity”.
Subsequent drilling confirmed the Hub has the potential to host a “significant mineralised body” and be a “game changing discovery” for the company.
Eshuys gained a seat on NTM’s board in March following DGO increasing its stake past 10%.
DGO has various big picture exploration plays in WA and is also an equity investor in De Grey Mining.
Eshuys was a key executive for Joe Gutnick in the 1990s and was involved with the exploration teams that worked on the Plutonic, Bronzewing, Jundee, Rosemont and Quarters gold discoveries. He was also the MD of St Barbara last decade.
Ruane is currently an executive director of potash contender Reward Minerals – in which he holds a 33% stake – and was recently involved with Metaliko Resources, a company that merged with potential Bronzewing re-developer Echo Resources in 2017.
He is also a significant shareholder in Intermin Resources, which has merged with Macphersons Resources and is aiming to become a gold producer near Kalgoorlie called Horizon Minerals.
NTM’s shares were trading this week at 3.4c, capitalising the company at $14 million. The $3.9 million fund raising is pricing new shares at 3.25c.
https://www.miningnews.net/capital-markets/news/1367227/ruane-moves-into-eshuys’-orbit-with-ntm-investment