Company Interview / The small cap betting on another gold rush

Key points:

Bastion Minerals (ASX:BMO) expands gold portfolio with new acquisition in Western Australia Project area is geologically similar to historic Mount Morgans and near Magnetic Resources (ASX:MAU) prospects New board, recapitalisation, and experienced geologist appointments drive strategic turnaround Focus on early-stage gold exploration in Australia with continuing partnerships for overseas projects

Bastion Minerals (ASX:BMO) has expanded its Australian gold portfolio by acquiring the entire issued capital of Musqueam, which owns a promising gold project in Western Australia’s Goldfields region. Gavin Rutherford highlights that this strategic move places Bastion Minerals in a prime tier-one mining jurisdiction, strengthening its position as an early-stage gold explorer. Rutherford points out that the company’s focus is now squarely on Australia, aiming to develop gold projects close to the renowned Mount Morgans Mining Centre, underscoring strong geological similarities in the area.

Rutherford outlines Bastion Minerals’ refreshed strategy since its relisting in May, ushering in a new board and recapitalisation to drive turnaround efforts. With a vested interest as the largest shareholder, Rutherford states that he’s committed to delivering value for fellow investors. He emphasises the recruitment of experienced geologists, which boosts the company’s technical capabilities, and describes ongoing plans to seek earning partners for existing overseas assets in Sweden, Canada, and Chile, allowing the company to retain exposure while maximising shareholder value.

Notably, Rutherford compares the newly acquired project’s geology to former operations by DCM Gold and mentions Magnetic Resources (ASX:MAU) for reference, identifying the Goldfields region as highly prospective. A rights issue at a deeply discounted rate has also been offered, underlining efforts to regain investor trust.