Aguia drill bit chases first Colombian gold | Australian Markets

Freshly funded from a premium-priced $3 million capital raising to Hong Kong-based investment fund Patras Capital, Aguia Resources is about to crank operations into prime gear with the beginning of an exploration drill program on the company’s Santa Barbara gold project in Colombia.

The 2500-metre diamond drilling marketing campaign will kick off subsequent week to focus on down-dip extensions of the Santa Barbara and Mariana vein systems. Aguia goals to ship a maiden JORC useful resource for the project by 12 months’s finish.

Since resuming work on the finish of 2024, Aguia has ticked off an spectacular listing of milestones throughout underground development, processing upgrades and infrastructure rebuilds, all aimed toward remodeling the as soon as dormant web site into a 50 tonne per day (tpd) operation by mid-2025.

The company says underground development has powered forward, advancing more than 80m within the first two weeks of April to attain a sharp uptick from March’s 57.6m, due to a shift to round the clock operations.

Sampling has confirmed earlier high-grade trial outcomes of up to 30 grams per tonne (g/t) and newly found historic tunnels have prolonged the recognized strike of the vein systems, opening up recent potential.

New gear has additionally been introduced in to spice up mining effectivity, together with an electric locomotive, pneumatic loader and greater air flow followers. A second adit into the Mariana vein system is already underway.

Aguia marked a main landmark in January with the company’s first manufacturing of high-grade gold ore from underground workings. Production is now hitting throughput charges close to 30tpd.

The company additionally lately obtained an all-important approval from the State’s anti-money laundering and terrorism finance division, permitting Aguia to promote its gold to authorised, in-country consumers.

Above ground, the company has put in a 750kVA generator, a new Merrill-Crowe circuit and a pulp thickener to halve processing time and increase restoration charges.

A 3rd crusher has been introduced in to take away bottlenecks within the present crushers, that are due to get replaced in June to increase throughput to 200tpd. A second 750kVA generator can also be on the way in which to spice up energy.

Aguia says an unexpectedly cussed drought in Colombia delayed a full ramp-up by a number of weeks. The water scarcity proved a minor hiccup and the company has since tackled any future challenge by building a 5.5-kilometre pipeline and dam to make sure a dependable provide for the expanded processing circuit.

Underground development charges have elevated considerably month-on-month during 2025. With the anticipated completion of the plant improve by the top of June 2025 we’re assured the operation will obtain its aim of treating mineralised materials via the plant on the design fee of 50tpd.

Aguia can also be pushing full steam forward with plans to develop a second income stream from the company’s Três Estradas natural rock phosphate project within the coronary heart of southern Brazil’s booming agribusiness belt.

The company lately secured a 10-year lease on the Dagoberto Barcelos (DB) processing plant, 100km from its flagship deposit. The deal contains a month-to-month charge of BRL$163,000 (A$44,000) and a one-off fee of BRL$5 million (A$1.36M).

The transfer seems a savvy one to sidestep the eye-watering $26M capital investment forecast in final 12 months’s bankable feasibility examine for building a comparable plant from scratch.

The similar examine forecast annual earnings of $22M EBITDA and a fast 2.9-year payback primarily based on a 300,000tpa operation throughout an 18-year mine life. The new facility already ticks alongside at 100,000tpa, nevertheless, Aguia sees an alternative to inject some further horsepower into the operation.

Using solely a modest quantity of capital to put in a hammer mill, a second drying unit and make a few different minor modifications, the company is aiming to shortly carry output on the plant to 300,000tpa, probably tripling manufacturing.

Initially, feedstock will come from Pampafos phosphate at Três Estradas, however Aguia says the true upside lies within the close by Mato Grande and Passo Feio deposits – simply 3km and 8km from the plant respectively. A drilling program is already nicely underway to deliver each prospects online shortly, thereby slashing transport prices to a fraction.

In parallel with the DB deal, the company is negotiating to lock in a second processing facility within the area to probably present a multi-plant phosphate manufacturing line.

As demand for natural phosphate fertilisers continues to rise throughout Brazil’s agricultural heartland, the company seems completely positioned to offer a cheaper, homegrown various to pricier imports. Additionally, Aguia’s southern push is well-timed to grow to be a key pillar within the company’s broader growth strategy.

With gold smashing via document highs above $5300 an ounce and first gold already within the bag, Aguia is hitting its stride in Colombia.

New drill testing and looming plant upgrades at Santa Barbara have the company eyeing a severe manufacturing ramp-up – and a shot at turning into the nation’s subsequent large gold success.

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