Benz Mining Corp - Mining Stock Analysis & Updates

Game-Changing Exploration Model Targets District-Scale Gold Endowment for Benz

Benz Raises A$13.5 Million to Accelerate Exploration at Glenburgh and Mt Egerton Gold Projects

Benz Exercises Option over Strategic Ground Along Strike from the Glenburgh Gold Project

Benz Mining Corp. has acquired tenements near the Glenburgh Gold Project, expanding the area to ~898km² and adding potential strike extensions for gold mineralization. The company is pursuing further exploration, with initial drilling results expected soon.

Benz Commences Maiden Drill Program at Glenburgh

Benz Mining Corp. is initiating its maiden drill program at the Glenburgh Gold Project, aiming to explore high-grade gold extensions. Drilling will start soon and continue through February and March 2025, with an updated resource estimate expected in H2 2025.

Benz Completes Acquisition of WA Gold Projects from Spartan Resources

Benz Mining Corp. has completed the acquisition of the Glenburgh and Mt Egerton Gold Projects from Spartan Resources, with Spartan now holding a 15% stake in Benz. Spartan's General Manager, Nick Jolly, joins Benz's Board, and further payments are outlined.

Benz Announces Results of Annual General and Special Meeting

Benz Mining Corp. announced that all resolutions at its Annual General and Special Shareholder Meeting were approved, with 41 million shares voted. The company is focused on gold exploration, owning projects in Quebec and Western Australia, enhancing its multi-jurisdictional presence.

Benz Secures Option over Strategic Ground Adjacent to Glenburgh Gold Project

Benz Mining Corp. has secured an exclusive option to acquire tenements near the Glenburgh Gold Project, expanding the area to ~898km² and adding ~20km of prospective strike. This enhances exploration potential and aligns with their strategy for growth in top mining regions.

Benz Appoints Chief Executive Officer

Mark Lynch-Staunton, who previously served as Benz Mining's Chief Development Officer, has been promoted to Chief Executive Officer. Since joining Benz more than a year ago, Lynch-Staunton has played a crucial role in shaping the company's strategy, particularly in acquiring high-grade gold assets in Western Australia. He brings over 15 years of experience in metals and mining to the role, including managing large-scale projects such as the Bulyanhulu Gold Mine. Lynch-Staunton plans to drive substantial value for Benz's shareholders by leveraging their new assets in Western Australia and existing projects in Quebec.

Benz Announces Closing of A$4M Financing

Benz Mining Corp. has completed its private placement of 18,181,820 CHESS Depository Interests (CDIs) at A$0.22 per CDI, raising approximately A$4 million. The funds raised will be used to acquire 100% of the Glenburgh Gold Project and Mt Egerton Gold Project in Western Australia, to scale up gold exploration activities, and for general working capital. If the acquisition is not completed, the funds will be used for drilling activities on the Company's Eastmain Project. The placement is still subject to the final approval of the TSX Venture Exchange.

Benz to Acquire WA Gold Projects from Spartan Resources Firm Commitments Received for A$4 Million Placement

Benz has signed an agreement to acquire the Glenburgh Gold Project and the Mt Egerton Gold Project from Spartan Resources Limited in Western Australia. This acquisition will transform Benz into a multi-jurisdictional gold-focused company. The Glenburgh project has a Mineral Resource Estimate of 16.3Mt at 1g/t Au for 510,100 ounces and the acquisition will complement Benz's existing high-grade resource at Eastmain. Benz plans to apply advanced geoscientific techniques to the projects, which have been underexplored. The acquisition will be funded by existing cash and investor placements, with Spartan becoming a strategic shareholder in Benz. Spartan's General Manager, Nick Jolly, will join Benz's board.