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Dateline Resources Ltd (DTR)

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Company Deep Dive

Dateline Resources Limited (ASX:DTR) is an Australian company focused on exploration and production of gold and rare earth elements from its portfolio of projects in the United States. The Gold Links Gold Mine consists of 2,000 acres of freehold land in Gunnison County, Colorado USA.

This region is part of the ‘Gold Brick District’ of the Colorado Mineral Belt, which has produced over 25 million ounces of gold. Following a successful underground drilling program in 2021, the company committed to production at Gold Links, with ore treated at the nearby 100% owned Lucky Strike mill.

First gold sales are expected in the June quarter, with capacity increases over the coming months expected to increase throughput to 250tpd.

In 2021, the Company acquired the Colosseum Gold Mine from Barrick. Colosseum operated for five years between 1998-1993, producing 344,000 ounces before closing due to the low gold price at the time. No modern exploration was undertaken by Barrick between the mine closure and sale to Dateline, a period of over 25 years. The mine originally commenced production based on a resource of 1.1 million ounces, with Dateline currently updating a Mineral Resource estimate to JORC-2012 standards to assess the unmined material.

In addition to gold at Colosseum, the project is highly prospective for rare earth elements, with REE experts recently confirmed that the rocks at Colosseum are genetically related to those at Mountain Pass, the only operating REE mine in the United States.

Highlights

High grade gold producer with increased production from H2 CY 2022

Experienced board and management

Gold projects located in well endowed gold belts in the US

Colosseum mine largely untouched for a quarter of a century despite closing only due to low gold price environment

Excellent potential for rare earth upside based on proximity to Mountain Pass, one of the largest REE carbonatite complexes globally

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People

Board and Management

Stephen Baghdadi

Managing Director and CEO
Jun 2014 - Present

Since 1993, Mr. Baghdadi has acted as an executive director for numerous ASX listed companies including the Horizon group of companies, Afro-West, Alamain Investments, Marino as well as privately held controlling interests in manufacturing, software development and property concerns.

Profile

Stephen Baghdadi

Managing Director and CEO

Jun 2014 - Present

Since 1993, Mr. Baghdadi has acted as an executive director for numerous ASX listed companies including the Horizon group of companies, Afro-West, Alamain Investments, Marino as well as privately held controlling interests in manufacturing, software development and property concerns. Mr. Baghdadi has completed several transactions in Australia, South East Asia, Europe and North America and brings to the table the ability to identify an undervalued asset or opportunity that has the potential to yield high returns.

Mark Johnson

Non-Executive Chairman
Mar 2013 - Present

Mr Johnson has worked in banking and corporate finance for more than forty years. He retired as Deputy Chairman of Macquarie Bank in mid-2007 and now divides his time between work in the private and public sectors. Mr Johnson is a senior adviser to Gresham Partners, Chairman of Alinta Energy Ltd, and from 2002 to 2013 one of the three Australian members of the APEC Business Advisory Council (ABAC).

Profile

Mark Johnson

Non-Executive Chairman

Mar 2013 - Present

Mr Johnson has worked in banking and corporate finance for more than forty years. He retired as Deputy Chairman of Macquarie Bank in mid-2007 and now divides his time between work in the private and public sectors. Mr Johnson is a senior adviser to Gresham Partners, Chairman of Alinta Energy Ltd, and from 2002 to 2013 one of the three Australian members of the APEC Business Advisory Council (ABAC).

Tony Ferguson

Non-Executive Director
Aug 2019 - Present

Mr Ferguson is an investor, entrepreneur and an investment banker. The majority of Mr. Ferguson’s career was with Macquarie Group where he established and led the natural resources team that advised on many major transactions in the mining industry. He established Macquarie’s presence in Canada, headed Macquarie’s Asian investment banking operations and established and led the Asia Resources Fund.

Profile

Tony Ferguson

Non-Executive Director

Aug 2019 - Present

Mr Ferguson is an investor, entrepreneur and an investment banker. The majority of Mr. Ferguson’s career was with Macquarie Group where he established and led the natural resources team that advised on many major transactions in the mining industry. He established Macquarie’s presence in Canada, headed Macquarie’s Asian investment banking operations, established and led the Asia Resources Fund. Mr. Ferguson’s career included three years as Managing Director and Head of Investment Banking at Rothschild Australia and a Global Partner of Rothschild Investment Bank. Before commencing his investment banking career Tony practiced as an engineer and worked at Rio Tinto’s Woodlawn Mine

Greg Hall

Non-Executive Director
Jan 2015 - Present

Mr Hall is an exploration geologist with over 40 years of international experience. From 1988-2005, he was employed by the Placer Dome group of companies, serving as Global Chief Geologist Wide during the last five years he was there. Placer Dome was later acquired by Barrick Gold Corporation in early 2006.

Profile

Greg Hall

Non-Executive Director

Jan 2015 - Present

Mr Hall is an exploration geologist with over 40 years of international experience. From 1988-2005, he was employed by the Placer Dome group of companies, serving as Chief Geologist -World Wide during the last five years he was there. Placer Dome was later acquired by Barrick Gold Corporation in early 2006. Over the course of his career, Mr. Hall had a senior role in the discoveries of both Gold Field’s Granny Smith mine and Rio Tinto’s Yandi iron ore mine. In addition, he took part in the discoveries of Keringal and Wallaby in Australia’s Eastern Goldfields, as well as the definition of AngloGold Ashanti’s Sunrise gold mine.

Bill Lannen

Non-Executive Director
Jan 2021 - Present

Mr. Lannen’s career commenced with Aberfoyle Ltd where he worked in both technical and operating rolls at Cleveland Tin, Ardlethan Tin and the Melbourne head office. His last project was to take the Hellyer base metal mine in Tasmania from feasibility to full production as the mine manager. In 1990, Bill started Mancala Pty Ltd, a specialist mining contractor and mine engineering group and managed Mancala’s operations for over 25 years.

Profile

Bill Lannen

Non-Executive Director

Jan 2021 - Present

Mr. Lannen’s career commenced with Aberfoyle Ltd where he worked in both technical and operating rolls at Cleveland Tin, Ardlethan Tin and the Melbourne head office. His last project was to take the Hellyer base metal mine in Tasmania from feasibility to full production as the mine manager. In 1990, Bill started Mancala Pty Ltd, a specialist mining contractor and mine engineering group and managed Mancala’s operations for over 25 years. As a mine contractor, Mancala has successfully completed projects in both metalliferous and coal in Australia and offshore. Projects have included whole of mine contracts in open pit and underground as well as specialist contracts in the development and recovery of shafts. Several key projects involved mechanized mining of narrow vein deposits

Projects

Colorado

Gold Links Gold Mine

The Gold Links Gold Mine, located in Gunnison County, Colorado, commenced production in early 2022, following several phases of surface and underground drilling. The mine consists of four historic narrow vein gold mines, with grades averaging 15g/t Au. Ore is mined by an owner-operated mine fleet at a rate of 100-200tpd and is transported to the company’s 100% owned Lucky Strike mill for processing. Dateline is installing additional processing capacity at Lucky Strike to increase the throughput rate of 250tpd, with commissioning to commence in June.

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California

Colosseum Gold Mine

Dateline acquired the Colosseum Gold Mine in 2021, attracted by the fact that the 1.1Moz resource had only 344,000 ounces mined from it before closure in 1993 when the gold price was <$250/oz. The company built a modern relational database and a validation drill program confirmed the geology and grade distribution of the deposit. A JORC-2012 Mineral Resource estimate is being completed, aimed at assessing the potential of the unmined material.

In addition to gold potential, the Company has confirmed that rocks at Colosseum are genetically linked to those at Mountain Pass, the largest REE carbonatite complex in the world, highlighting the potential for rare earth elements at Colosseum.

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Milestones

Historical Milestones

Successful underground and surface drilling programs at Gold Links
Commencement of ore mining and processing at Gold Links
Acquisition of Colosseum Gold Mine from Barrick
Establishment of relational database at Colosseum
Confirmation of genetic link between Colosseum and Mountain Pass rocks

Future Milestones

Commissioning of the upgraded 250tpd processing circuit at Gold Links
Continued high-grade underground drilling results
Mineral Resource estimate, assessing unmined material at Colosseum Gold Mine
Drill testing of depth extensions at Colosseum within the breccia pipes
Systematic assessment of the rare earth potential at Colosseum

Resources

Quarterly Activities Report - March 2022

29 Apr 2022 | Report
PDF (609.4 KB)

Quarterly Cashflow Report - March 2022

29 Apr 2022 | Report
PDF (667.7 KB)

2021 Annual Report

01 Oct 2021 | Report
PDF (3027.9 KB)

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