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TRUSTCO’S MINING PORTFOLIO INVESTEE MEYA RECOVERS EXCEPTIONAL 391-CARAT DIAMOND IN SIERRA LEONE

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3 months ago

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Windhoek, Khomas, Namibia, 28th Aug 2024 – Trustco Group Holdings Ltd (“Trustco”) is pleased to announce that Meya Mining (“Meya”), in which Trustco holds a 19.5% interest, has recovered a remarkable 391.45-carat diamond. This significant find was made in the Kono District of Sierra Leone, within an area that spans the Kamara Gbense and Tankoro chiefdoms. Meya holds a 25-year exclusive diamond mining license for the Kono District.

The diamond, recovered on Tuesday, 20 August 2024, is the second exceptional diamond mined from the Meya River kimberlite domain—the first of 16 kimberlite domains within the company’s licensed area to be targeted. Notably, in November 2017, Meya Mining recovered a 476-carat Type IIa diamond, known as the Meya Prosperity, during its initial bulk sampling program. Similar to the Meya Prosperity, which was originally part of a 523.44-carat diamond that fragmented into three pieces (476.98 carats, 27.89 carats, and 18.58 carats), this latest discovery involved a 514.99-carat diamond that also broke into three pieces, yielding stones of 391.53 carats, 105.43 carats, and 18.11 carats.

Mr Quinton Z van Rooyen, Deputy CEO of Trustco

 

Quinton Z van Rooyen, Deputy CEO of Trustco, commented on the discovery: “Six of the world’s largest diamonds have been discovered in the area surrounding Meya Mining’s licensed zone. These notable diamonds include the 770-carat Woyie Diamond (1945), the 620-carat Sefadu Diamond (1970), the 969-carat Star of Sierra Leone (1973), the 709-carat Peace Diamond (2017), the 476-carat Meya Prosperity (2017), and now the 391-carat diamond recovered in 2024. Where the Meya Prosperity diamond was once viewed as a unique occurrence, it is now clear that this region possesses an exceptional geology. We are excited about the prospect of continued exploration and the opportunity to uncover even more significant diamonds in the future.”

Jan Joubert, CEO of Meya Mining, commented on the Meya’s latest recovery: “Only four mines in the world infrequently recover these exceptional >500 carat diamonds. The fact that Meya has recovered two >500 carat Type IIa diamonds after treating only 84,195 tonnes of competent kimberlite from the Meya River domain, suggests that there is a high probability of recovering more and possibly bigger diamonds once the mine reaches steady state production of 500,000 tonnes kimberlite throughput per annum. Our priority now is to ensure that going forward we can recover these high value stones intact. We will work closely with our engineering and processing partners to upgrade the plant, eliminate breakages and increase its capacity to recover exceptionally large diamonds.”

In response to this discovery, Julius Mattai, Sierra Leone’s Minister of Mines and Mineral Resources, expressed hope that, “the discovery of the 391-carat diamond would once again alert the world to Sierra Leone’s mineral resource potential and engender a renewed interest in investing in the country’s mining sector. I am especially pleased with the transparent approach taken by the Company to determine the market value of this stone and maximise the economic distribution to all key stakeholders.”

More recently, on June 5, 2024, shareholders were advised that Z Star Mineral Consultants, an independent consulting firm, established that the site resource value of Meya Mining was valued at USD 763 million. This value referred to the Meya River domain, which represents less than 3% of the Meya Mining project. The Z Star Mineral Consultants report (Available here) highlighted that the average selling price of diamonds recovered from the Meya River domain on public auction is USD 380 per carat. However, this average price excluded exceptional stones due to their unique nature.

Trustco’s investment in mining was initiated in 2015 with the strategic objective of diversifying Trustco’s investment holdings into the natural resources sector. It aims to generate USD returns, acting as an internal hedge against potential macroeconomic impacts on the group’s traditional markets in Namibia and South Africa. While the mining mandate encompasses building a diversified mining portfolio, the primary focus remains on unlocking the full economic potential of its diamond assets, as Meya Mining’s mining license area has yielded five of the world’s largest stones recovered.

Trustco will continue to provide updates as the Preliminary Economic Assessment (PEA) report is finalized and as more information on these discoveries is released. With the ongoing development of Meya Mining, Trustco continues to demonstrate its ability to position itself for continued high growth success in its mining portfolio. Trustco’s strategic investment in Meya Mining is set to yield sparkling returns for years to come.

About Trustco:

Trustco Group Holdings Ltd is an investment entity headquartered in Windhoek, Namibia, which manages a diverse portfolio of investments spanning the insurance, real estate, non-deposit taking financial services, micro-finance, education, and mining sectors. Decisions are biased towards generational investment performance alongside shareholder wealth creation, and short-term hurdles are viewed as catalysts for future growth.

Since inception in 1992, Trustco’s investment portfolio has delivered strong returns with a CAGR of 68.97%, with a well-balanced asset mix, with a current average weighting of 34% in US Dollar based assets, while the remaining 66% is invested in Namibia Dollar (1 NAD = 1 ZAR) based assets. Trustco enjoys the backing of a wide range of coinvestors, including 3 610 from Namibia, 1 443 from abroad, and 94 from institutional entities.

About Namibia:

Namibia is a Southern African country with a population of approximately three million and a GDP per capita of USD 5 031 in 2022. The country is endowed with rich natural resources, with recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects.The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation’s GDP by 2040.

The country’s economy expanded by 4.2% in 2023 and is projected to expand by 3.7% in 2024, following a recovery of 5.3% in 2022 from the COVID-19 pandemic. With its wealth of natural resources, pro-business environment, political stability and increasingly skilled workforce, Namibia offers attractive investment prospects across all sectors.

Forward-Looking Statements:

All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, including statements regarding Trustco’s plans to upgrade its ADR program and the results of such an upgrade, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

 

Media Contact

Organization: Trustco Group Holdings

Contact Person: Neville Basson

Website: https://www.tgh.na

Email: Send Email

Contact Number: +264612754501

Address: 2 Keller Street, Trustco House

Address 2: Windhoek

City: Windhoek

State: Khomas

Country: Namibia

Release Id: 28082416225

The post TRUSTCO’S MINING PORTFOLIO INVESTEE MEYA RECOVERS EXCEPTIONAL 391-CARAT DIAMOND IN SIERRA LEONE appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

Structural Repetition: West Red Lake Gold’s New Ore Shoot is Similar to the High-Grade 8-Zone

Published

9 hours ago

on

November 27, 2024

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West Red Lake Gold Mines is currently working towards a restart at the Madsen Gold Mine in the Red Lake Gold District of Northwest Ontario, Canada. A Pre-Feasibility Study (PFS) for the Madsen Mine is targeted for release in early 2025. The WRLG management team projects a mine-restart date in 2025.

Vancouver, BC, Canada, 27th Nov 2024 – Sponsored content disseminated on behalf of West Red Lake Gold. On November 21, 2024 West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) reported additional drill results that define a new ore shoot at the Upper 8 Target following up on the October 2, 2024 intercepts of 44.17 g/t Au over 1.3 meters and 20.63 g/t Au over 0.5 meters.

West Red Lake Gold Mines is currently working towards a restart at the Madsen Gold Mine in the Red Lake Gold District of Northwest Ontario, Canada. A Pre-Feasibility Study (PFS) for the Madsen Mine is targeted for release in early 2025.  The WRLG management team projects a mine-restart date in 2025.

“Our main objective this year with the surface drill program was to make new discoveries,” Will Robinson, VP of Exploration told Guy Bennett, CEO of Global Stocks News (GSN). “We have been focusing on drill targets generated from our conceptual modeling that possess the geologic potential to produce high grades.”

“The initial results we received from Upper 8 were very encouraging and motivated our team to add a second drill to focus solely on this new high-grade area,” stated Shane Williams, WRLG President and CEO in the November 21, 2024 press release.

“Upper 8 was already a shallow geologic analog to the deeper 8 Zone, but with the exceptional grades and visible gold showings we’re now encountering, this target is becoming truly reminiscent of the high-grade gold mineralization Red Lake is known for,” continued Williams.

“It’s still early days, but we believe the Upper 8 target has the potential to become the next new significant discovery in the Red Lake gold camp and supports the likelihood for the presence of more high-grade deposits like 8-Zone yet to be discovered across the Madsen property.”

“If you compare 8-Zone with Upper 8, you’ll see the structural repetition in the way the mineralisation is oriented in these two shoots,” confirmed Robinson. “Our theory is that we may have one or two more of these zones stacked between Upper 8 and the deeper 8-Zone. Next year, we’ll get back in there with the drill, to test that theory.”

The Upper 8 target is hosted within the same lithologic unit (Russet Lake Ultramafic) approximately 750m up-plunge from the main 8-Zone deposit.

Its location in ultramafic rocks, its style of mineralization, and its exceptionally high grades make the 8 Zone geologically unique from the main Madsen deposit.

The 8 Zone currently contains an Indicated mineral resource of 87,700 ounces @ 18 grams/tonne gold, with an additional Inferred resource of 18,200 oz @ 14.6 grams/tonne gold.

“The size of the Upper 8 shoot that we’ve defined is similar in size and scale to the deeper high-grade 8 Zone,” Robinson told GSN. “The new shoot is 30 meters wide and 130 meters along plunge. We’ve only got 15 or 16 holes in the Upper 8. We are in an early stage of drilling on this target, but I’m encouraged by what we’re seeing. The geology is holding together.”

 

“The Pre-Feasibility Study (PFS) for the Madsen Mine is nearing completion,” stated WRLG in the November 21, 2024 press release. “The final phase of this study involves optimizing underground development and infrastructure sequencing and refining the associated operating and capital costs. West Red Lake Gold is working with SRK Consulting on these optimization opportunities, a process that is expected to take an additional few weeks to complete. As such the PFS is now targeted for release early in 2025”.  

The WRLG Pre Feasibility study will be based on:

1. Real Costing: Operating underground at the Madsen Mine for the last year means West Red Lake Gold understands the real costs for blasting, mucking, and haulage of mined material.

2. Final Engineering: The Madsen Mine is essentially built. With the mine having operated as recently as 2022 and with West Red Lake Gold having studied and remedied many of the issues from that period over the last 18 months, there are very few unresolved engineering questions at Madsen.

3. Detailed Mine Plan: West Red Lake Gold has built a detailed mine design for the first 18 months of operation and intends to have 24 months of definition drilled in-situ mineral inventory defined prior to restart, which is targeted for mid-2025. This level of operational readiness far exceeds what is typical at the PFS stage in most development scenarios.

“Today, a tight labour market has made filling mining jobs harder than ever,” reports the Canadian Mining Journal. “Headhunting has become widespread, negotiations have gotten more complex, and as the industry is experiencing a wave of retirements.”

“Training is extremely important,” Robinson told GSN, acknowledging the challenge. “So are working conditions. We have a beautiful new camp at the mine site. Every room has its own restroom. That’s a perk usually reserved for top brass. A lot of the workforce live locally in Red Lake. But we have diesel mechanics, welders and pipe fitters flying in from other areas. In this tight labour market, the quality of the camp is an important part of worker retention.”

West Red Lake has partnered with Horizon North to provide the 114-person accommodations and mine dry facilities for the Madsen mine site.

Typical Horizon North Facility Built for Canadian Mining Camps

The Madsen Mine deposit presently hosts an NI 43-101 Indicated resource of 1.65 million ounces of gold grading 7.4 g/t gold and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t gold. [1.] [2.] [3.]

The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.

Contact: guy.bennett@globalstocksnews.com

Disclaimer: West Red Lake Gold paid Global Stocks News (GSN) $1,500 for the research, writing and dissemination of this content.

Full Disclaimer: GSN researches and fact-checks diligently, but we cannot ensure our publications are free from error. Investing in publicly traded stocks is speculative and carries a high degree of risk. GSN publications may contain forward-looking statements such as “project,” “anticipate,” “expect,” which are based on reasonable expectations, but these statements are imperfect predictors of future events. When compensation has been paid to GSN, the amount and nature of the compensation will be disclosed clearly.

References:

  1. SRK Consulting. (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada (West Red Lake Gold Mines, Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada.
  2. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc., and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca
  3. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc., and dated June 16, 2023, and amended April 24, 2024. The Madsen Resource Estimate has an effective date of December 31, 2021 and excludes depletion of mining activity during the period from January 1, 2022 to the mine closure on October 24, 2022 as it has been deemed immaterial and not relevant for the purpose of the updated report. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca

Media Contact

Organization: Global Stocks News

Contact Person: guy.bennett@globalstocksnews.com

Website: https://www.globalstocksnews.com

Email: Send Email

Country: Canada

Release Id: 27112420435

The post Structural Repetition: West Red Lake Gold’s New Ore Shoot is Similar to the High-Grade 8-Zone appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

GFH Launches OUTLIVE in City Scape: An innovative Real Estate Venture rooted in Health & Well-being

Published

9 hours ago

on

November 27, 2024

By

 

Manama, Bahrain, 27th Nov 2024- GFH Financial Group (“GFH”) today announced the launch of OUTLIVE in Cityscape, an innovative real estate developer and creator of master planned communities and mixed-use projects with a focus on health and well-being, which will operate across the MENA region and Europe.

OUTLIVE leverages the combined expertise and capabilities of the GFH Group and its management team with proven expertise in development, design and conceptualization of living communities.  OUTLIVE will operate in Europe and the Mena region with a particular focus on the growing and attractive Saudi as well as the UAE markets where there is strong demand for such focus and need for communities that deliver well-being attributes in addition to physical appeal. 

The venture addresses six key wellness dimensions: Social connection, Environmental stewardship, Physical health, Emotional awareness, Mental engagement, and Spiritual wellness, all working together to create a holistic approach to human wellbeing. 

Commenting, Mr. Hisham Al-Rayes, Chairman of OUTLIVE and GFH Group CEO remarked, “OUTLIVE represents our initiative to create differentiated communities where wellness and sustainability go hand in hand. This venture reflects our commitment to our region by creating unique and differentiated real estate offering.”

Adding, Mr. Walid El Hindi, Board Member and Managing Director of OUTLIVE, said, “This is not just a real estate company – it’s an opportunity to create people-centric communities, fostering connections, and a profound sense of belonging. While sustainability in real estate centers on creating buildings that care for the planet, wellness real estate focuses on crafting places that care for the people.” 

In line with its mission, OUTLIVE is also bringing senior living to the region by developing supportive environments specifically designed for older adults. These premium communities will provide personalized services and foster social connections, promoting a dignified and fulfilling lifestyle catering to seniors.

As OUTLIVE prepares to unveil its ambitious projects, it aims to raise the bar for transformative developments across the MENA region and Europe. 

Media Contact

Organization: Media Scene PR and Translation

Contact Person: Husain Naser

Website: https://mediascenebh.com/

Email: Send Email

State: Manama

Country: Bahrain

Release Id: 27112420464

The post GFH Launches OUTLIVE in City Scape: An innovative Real Estate Venture rooted in Health & Well-being appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

UniJoin Updates Domain Zone to Strengthen Anonymity and Enhance Privacy Features

Published

10 hours ago

on

November 27, 2024

By

UniJoin has updated its domain zone to ensure uninterrupted access and enhance user anonymity. The platform utilizes advanced CoinJoin technology, offering tools like a Bitcoin Mixer and Bitcoin Tumbler to anonymize cryptocurrency transactions. Key features include a user-friendly interface, Tor Browser integration, zero logs policy, and high-quality transaction mixing. UniJoin remains committed to empowering users with secure and private financial management in the digital economy.

London, United Kingdom, 27th Nov 2024 – UniJoin has taken a significant step to strengthen user privacy by adopting a new domain name, ensuring uninterrupted access to its services despite previous blocks. The platform leverages cutting-edge CoinJoin technology, designed to anonymize and make cryptocurrency transactions untraceable.

Commitment to Financial Privacy

UniJoin’s primary goal is to help users achieve and maintain financial anonymity. Through CoinJoin, the platform pools users’ crypto assets with others, effectively mixing them. Users then receive clean, untraceable coins, safeguarding their privacy and breaking any traceable links to their original assets.

About UniJoin

UniJoin is a leading privacy-focused cryptocurrency service, offering tools for users to manage their digital finances anonymously. While Bitcoin and other cryptocurrencies like Litecoin are inherently pseudonymous, UniJoin bridges the gap to true anonymity by utilizing advanced mixing technology.

UniJoin simplifies financial privacy while empowering users to analyze and manage their blockchain transaction history transparently. By connecting their wallet address, users can privately review activity with a level of control unmatched by traditional financial systems.

Key Features

  • User-Friendly Interface: UniJoin offers a seamless and intuitive process to switch to “Anonymous mode,” enabling users to conduct transactions without revealing their identity.
  • Tor Browser Compatibility: The platform integrates with the Tor Browser, allowing users to maximize their privacy when accessing UniJoin.
  • Zero Logs Policy: UniJoin prioritizes user privacy by ensuring no activity logs are stored, keeping transaction histories secure and confidential.
  • Advanced CoinJoin Technology: By employing CoinJoin, UniJoin provides a high-quality mixing method that enhances transaction anonymity and untraceability.

Why Choose UniJoin?

UniJoin stands as a robust solution for cryptocurrency users seeking to anonymize their transactions. By combining simplicity, advanced privacy tools, and a commitment to user confidentiality, the platform offers a reliable and secure environment for safeguarding financial privacy.

With its new domain and privacy-enhancing features, UniJoin continues to lead the way in helping users navigate the digital economy securely and anonymously.

 

Media Contact

Organization: UniJoin Co.

Contact Person: Sergei Pavlov

Website: https://unijoin.org/

Email: Send Email

City: London

Country: United Kingdom

Release Id: 27112420453

The post UniJoin Updates Domain Zone to Strengthen Anonymity and Enhance Privacy Features appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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