Syndicated Metals Ltd.

Published : January 16th, 2014

(SMD) =2D Barbara =3A Looking Good=3B BUY=2C last price 3.7c target price 8.5c =2D upgrades to follo

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  • Infill and extension programme to upgrade 5.3Mt Indicated and Inferred Resource completed, meeting or exceeding expectations.
  • We expect that the Resource and mining inventory will be upgraded leading to an increase in our valuation, which currently remains at 8.5c/share.
  • Phase 2, to prepare for mining, is to begin soon.
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Resource upgrade drilling completed

SMD is managing the process to bring Barbara into production. The first step was a 45 hole RC programme, for 4,332m, which was completed in December and all assays received by early January.

 

Barbara currently has a JORC Resource of 5.3Mt, grading 1.4% Cu. The aim of the recently completed programme was to upgrade the resource estimate, which is 3.8Mt Indicated, grading 1.5% Cu plus 1.5Mt Inferred grading 1.1% Cu, and also to test extensions to surface, along strike and at depth.

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Results from completed drilling

The programme was successful in confirming:

  • SMD's interpretation of a high grade (> 2.5% Cu) hanging wall lode supported by thick zones of lower (> 0.5% Cu) mineralisation;
  • A near surface high grade lode in the south, and confirming a blanket of lower grade, oxidised mineralisation from the surface; and
  • High grade depth extensions.
The programme has completed the in-fill drilling within the designed pit shell and has confirmed barren areas within the pit shell.

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Next steps

SMD expects to resume their drilling programme late in January, to test for water, geotechnical and metallurgical work and further infill drilling.

 

The plan is still to begin ore extraction later in 2014.

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Beer & Co. conclusions

Compared with a JORC Resource of 5.3Mt at 1.4% Cu, the mining inventory on which our valuation is based is 1.2Mt at 1.9% Cu. We expect that the mining inventory will be upgraded and that costs will be lowered due to lower waste to ore ratio.

 

Beer & Co. confirms our current valuation, of 8.5c/share, but notes the upside potential from lower costs, extensions of high grade mineralisation at depth as well as the regional potential for SMD

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Syndicated Metals Ltd.

EXPLORATION STAGE
CODE : SMD.AX
ISIN : AU000000SMD4
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Syndicated Metals is a gold and copper exploration company based in Australia.

Its main exploration properties are MOUNT ISA, GEORGINA BASIN, EXMOUTH, MOUNT REMARKABLE and KALMAN SOUTH JV in Australia.

Syndicated Metals is listed in Australia. Its market capitalisation is AU$ 3.2 millions as of today (US$ 2.0 millions, € 1.8 millions).

Its stock quote reached its highest recent level on April 15, 2011 at AU$ 0.23, and its lowest recent point on April 03, 2020 at AU$ 0.00.

Syndicated Metals has 634 480 000 shares outstanding.

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Corporate Presentations of Syndicated Metals Ltd.
5/7/2008Hartley's Research Report
Financings of Syndicated Metals Ltd.
12/18/2009raises $2.36 million in Private Placement
Nominations of Syndicated Metals Ltd.
5/24/2010Appointment of Chairman
11/4/2009Appointment of Corporate Adviser
Project news of Syndicated Metals Ltd.
1/16/2014(SMD) =2D Barbara =3A Looking Good=3B BUY=2C last price 3.7c...
5/16/2011Syndicated and Cerro in agreement to unlock value and expedi...
5/11/2011High Grade Copper-Gold Hits Confirm Blue Star Potential
8/12/2010(Mount Remarkable)17.8% copper intersection at Barbara South Lode
5/26/2010(Mount Remarkable)New Copper and Cobalt Discoveries
6/17/2010(Barbara)Barbara Project Continues to Grow with new Copper-Gold Hits
5/10/2010(Barbara)High Grade Copper-Gold Hits Boost Syndicated's Barbara Proje...
5/10/2010(Barbara)Reports High Grade Copper Hits
3/26/2010Moves Towards Project Development Target As RC And Diamond D...
3/26/2010(Mount Remarkable)Drilling Restarts at Mount Remarkable
3/1/2010(Barbara)Maiden Resource Reported for Barbara North Lode
3/1/2010(Barbara)Barbara Resources Increase to 47,000 Tonnes of Copper
11/23/2009High Grade Copper Hits Keep Coming From Syndicated's Barbara...
11/23/2009More High Grade Copper from Barbara Project
11/5/2009(Kalman South Jv)Positive Exploration Results Enhance Kalman South Joint Vent...
11/5/2009Step-out Drilling Extends High Grade Copper Zone at Barbara
10/22/2009More High Grade Copper Hits at Barbara Project
8/10/2009(Mount Remarkable)Drilling Success at Barbara Copper Project
6/2/2009(Mount Remarkable)Commences Drilling to Expand Existing Copper Resource at Mou...
2/4/2009(Kalman South Jv)Syndicated announces new Copper-Gold-Molybdenum Joint Ventur...
9/18/2008(Mount Remarkable)Syndicated announces more significant copper-gold drill resu...
8/22/2008(Kalman South Jv)Reports Further Results From Significant Copper-Molybdenum -...
7/4/2008(Kalman South Jv)High Grade Copper Intersection at Kalman South
6/23/2008(Exmouth)Initial Field Program Underway at Exmouth Project New Teneme...
5/14/2008(Mount Remarkable)Project Continues to Return Promising Results
3/20/2008(Mount Isa)RC Drilling Program Starts at Syndicated's 100% owned Mount ...
3/19/2008(Exmouth)Phosphate Potential at 100% Owned Exmouth Project to be Eval...
Corporate news of Syndicated Metals Ltd.
7/26/2016Syndicated Acquires WA Gold Project
4/4/2016Issue of Shortfall Shares & Appendix 3B
1/29/2016Results of Meeting
11/26/2015AGM 2015 Results of Meeting
10/28/2015Mining and Off-Site Processing Study for Barbara Completed
10/28/2015New Strategic Direction For Syndicated
9/14/2015New Regional Drilling Program Commences
8/21/20152015 Corporate Governance Statement and Appendix 4G
8/17/2015Exploration Program Delivers Multiple New Drilling Targets
7/7/2015Major New Copper Exploration Program Underway
7/1/2015Managing Director Interview and Investor Presentation
4/16/2015Closure of Entitlements Issue
3/18/2015Letter to Excluded Shareholders
3/18/2015Letter to Shareholders
3/16/2015Entitlements Issue Offer Document
3/16/2015Entitlement Offer s708AA Notice
12/29/2014Acquisition of Tick Hill Tenement Package
4/28/2011Intersuisse Broker Report
8/23/2010Syndicated strengthens tenement position around Kalman with ...
8/23/2010Syndicated Strengthens Tenement Position Around Kalman with ...
8/12/201017.8% Copper Intersection at Barbara South Lode, Queensland
7/29/2010Quarterly Report for the Period Ending 30 June 2010
5/24/2010New Chairman Appointed
4/14/2010New Copper-Gold Targets Identified
3/12/2010Equity Research Report
1/20/2010Quarterly Report for the Period Ended December 31 2009
12/23/2009Wraps Up Successful Drilling Program At Barbara Copper Proje...
11/24/2009Press Article - Garimpeiro
9/11/2009Minesite.com Article
7/15/2009Quarterly Report June 2009
9/18/2008Hartley's Research Report
7/15/2008Infill Copper Drilling Recommences at Barbara Prospect
6/26/2008Hartleys Research Report Attached
5/6/2008 Significant copper-gold drill intercepts at Mount Remarkabl...
4/30/2008Updates Release Date of Assay Results from RC Drilling at it...
4/29/2008Quarterly Activities Report
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