Dateline Resources managing director Stephen Baghdadi said: โWe have seen growing interest out of the US, particularly after recent milestones at our Colosseum project.โ
Colosseum is a rare geological gem, combining a proven gold system with promising rare earths potential. The deposit currently hosts a 27.1 million tonne JORC resource grading 1.26 grams per tonne (g/t) gold for 1.1 million ounces, with 67 per cent of that in the measured and indicated categories. The leases have never been truly tested for rare earths.
The company picked up the project from Barrick Gold in 2021 after the US mega-miner produced 344,000 ounces of gold before putting up the shutters in the early โ90s due to a price collapse to US$350 per ounce.
Scoping study work in October last year outlined a robust eight-year mine life producing 75,000 ounces of gold per year and delivering a tasty pre-tax net present value of US$235M (A$367M) at a US$2200 (A$3443) per ounce gold price.
Datelineโs project is shaping up as a serious money-spinner, with all-in sustaining costs pegged at a lean US$1490 (A$2313) an ounce. Capital costs are capped at US$195M (A$300M), with payback expected in just over three years.
With gold now trading 47 per cent higher at a jaw-dropping US$3253 (A$5077) an ounce, management says Colosseumโs economics could be in for a major re-rate. Management says it is now eyeing a project expansion to extend the mineโs life and fully capitalise on the booming gold market.
With the federal government throwing its weight behind Colosseum, Dateline has wasted no time capitalising on the momentum. The company has kicked off its application to uplist to the USโs OTCQB Venture Market to make its stock more accessible to North American investors.
From political podiums to Wall Street boards, Datelineโs Colosseum project appears to be gaining some serious traction.
With federal backing, a sizable gold resource, rare earth potential and a US listing in sight, the little Aussie battler is fast becoming a star player in the American critical minerals arena.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
About The Author
