Caprice Resources Limited (ASX: CRS)
Caprice Resources Limited (ASX: CRS) has progressed in the first half of the financial year, with key developments in its exploration projects. The company completed the acquisition of the Bantam Project in the West Arunta region, securing a 90% interest in granted tenements and applications. A binding agreement with Rio Tinto Exploration was executed to acquire an additional tenement to further expand its holding in the West Arunta region. Caprice conducted a review of its portfolio, with a focus on its promising gold assets in the Murchison Region of Western Australia, as well as advancing its copper, gold, and niobium projects in the West Arunta area.
Caprice recorded a loss of $2.77 million for the period ending 31 December 2024, compared to a loss of $430,695 in the same period the previous year. However, the company’s cash position improved to $1.72 million by 31 December 2024, up from $885,583 as of June 2024. In February 2025, Caprice also announced a $1.54 million funding boost to expand its drilling program at the Island Gold Project.
Caprice’s exploration efforts are focused on high-potential gold and base metal projects. The Cuddingwarra Gold Project, located near Westgold’s mining center, shows strong gold discovery potential, with its geological structures similar to those in the Cue region. The Island Gold Project has seen promising drilling results, with multiple high-grade gold intersections, including 28 meters at 6.4 g/t from 114 meters downhole. The New Orient Gold Mine has demonstrated high-grade gold potential through previous drilling, with further work planned to estimate a maiden resource and evaluate development opportunities. The company is also advancing its West Arunta copper, gold, and niobium projects, with airborne geophysical surveys planned to assist in drill targeting.
Blackstone Minerals Ltd (ASX: BSX)
Blackstone Minerals Ltd (ASX: BSX) is focused on developing a vertically integrated battery metals processing business in Vietnam, with a goal to produce Nickel:Cobalt:Manganese (NCM) precursor materials for the growing lithium-ion battery market in Asia. The company owns the Ta Khoa Nickel Mine, which operated as a mechanized underground mine from 2013 to 2016, and is working to expand its operations with a larger concentrator, refinery, and precursor facility. Blackstone is pursuing partnerships with local companies to ensure sustainable mining and minimize carbon emissions while securing nickel concentrate, an essential component for battery production.
In late 2024, Blackstone completed the successful piloting of precursor cathode active material (pCAM) NCM811, a critical milestone for its Ta Khoa Refinery (TKR) project. The pCAM pilot program confirmed the successful production of high-quality material suitable for lithium-ion batteries, achieving the necessary chemical and physical properties. This program marked the final stage of testwork required to finalize the definitive feasibility study (DFS) for the TKR. The company is now focused on resolving permitting issues with local authorities in Vietnam, particularly in Son La Province, to expedite the approval process and move forward with its refinery development.
Blackstone has decided not to exercise its option for the Wabowden Project, instead focusing on negotiating better terms aligned with current market conditions. In Canada, the company has been conducting geological mapping and geochemical sampling at the Gold Bridge Project, located in British Columbia. This includes sampling targeted at historic anomalies and potential drill locations. Blackstone continues to explore potential local joint venture partners in Vietnam, aiming to strengthen its development strategy and secure financial backing for its Ta Khoa Project. These efforts will continue throughout 2025.
(Source: Company's Report)
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