News
11 December 2024
Australian gold and copper explorer TechGen Metals is turning its attention to two gold projects near Kalgoorlie as it readies itself for an IPO later this year.
Australian gold and copper explorer TechGen Metals is turning its attention to two gold projects near Kalgoorlie as it readies itself for an IPO later this year.
The company has 100% ownership of seven projects across three distinct geographic provinces in Western Australia – Paterson Orogen, and Ashburton Basin, and the Yilgarn Craton.
It’s within this last province that the company’s two lead projects, the El Donna and Ida Valley projects, are located.
The El Donna project is located roughly 50km north east of Kalgoorlie, between the Mayday North gold mine and the Penny’s Find gold mine.
The site houses a small exercise license for a deposit which is presently being developed privately, and the company has developed a drilling program it intends to undertake (after listing on the ASX) based on historic reports which haven’t been properly followed up.
Ida Valley, on the other hand, represents a new greenstone belt discovery.
Over the past 18 months, TechGen has conducted a number of tests in the region, including auger soil surveys and rock chip samples as part of a plan to get the project drill-ready post-IPO.
Gold prices tipped to explode
International investment bank Goldman Sachs has forecast the price of gold to surge to $US2,300 ($2975.05) per ounce in 2021 amid heightened concern over inflation.
That rally would put the price of gold bullion at an all-time high, and represents more than a 20% increase on the current price.
The bank added that it expects demand from emerging markets to grow, noting that Chinese and Indian demand is already displaying signs of normalisation, while newly-elected US President Joe Biden is expected to take a softer stance on trade – further supporting a rally.
TechGen’s MD Ashley Hood recently joined us for our fortnightly webcast ‘The Insider’. This article summarises some of the information he shared with us during the session. You can watch a full recording below, or you can click here to book into our next session where we will be joined by Michael Winlo, CEO of Emyria Limited and Murray Hill, Managing Director of Marenica Energy.
‘The Insider’ is a great way to hear directly from the CEOs of fast growing Australian businesses. You will get valuable insights to their industries and companies future prospects.
The Insider: Meet the CEOs – Event Details:
Date: Wednesday, 17th February Time: 12pm AEDT Format: Online, 2 x 15 minute presentations
This is a free event. Click here to book your spot.
Reach does not assume responsibility for the accuracy or completeness of any information provided, and the views expressed are not reflective of Reach Markets position. Any advice contained within this presentation is general advice and does not consider your personal circumstance, you should consider whether it’s appropriate for you.
The information we are giving you is for educational purposes only. “Investing is about understanding your risk” and every time you invest in the share market there is a risk of loss.
Past performance is not a reliable indicator of future performance.
Reach Markets have been engaged by TechGen Metals to help manage their investor communications.
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