Black Bear Minerals Limited

Description

Black Bear Minerals Limited is an Australian-listed exploration company advancing two United States precious-metals projects: the 100%-owned Shafter Silver Project in Presidio County, Texas, and the Independence Gold Project in Nevada's Battle Mountain region. Shafter is a past-producing high-grade silver mine, having yielded 35.2 million ounces of silver at an average grade of 521 g/t Ag between 1883 and 1942, with more recent production of 134,557 ounces by Aurcana Corporation between 2012 and 2013. The site retains approximately A$150 million of existing infrastructure, including a mill complex, Merrill-Crowe recovery plant, 160km of underground workings, a 69kV power connection, and full unencumbered water rights, with all major permits confirmed valid and current.

Shafter carries a foreign NI 43-101 mineral resource estimate (2015, not yet JORC 2012 compliant) of 1.89 Mt at 289 g/t Ag for 17.57 Moz silver, and a 2018 preliminary economic assessment has since been completed, though the company is now conducting restart studies with Ausenco covering process optimization, metallurgical testing, and mine planning. Independence hosts a separate resource of 1.18 Moz gold and 7.6 Moz silver, including a high-grade zone of approximately 800,000 ounces of gold, near Nevada's Phoenix Gold Complex. No current PFS or DFS has been published for either project, so AISC, capex, and production guidance remain undisclosed.

Weakness

List of projects

1. Shafter Silver Project — 100% interest, Presidio County, Texas, USA; metals: Silver, Zinc, Lead, Gold, Vanadium.
2. Independence Gold Project — interest, Battle Mountain region, Nevada, USA; metals: Gold, Silver.

Deep dive series

Track progress timeline

Forecast share price