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blina minerals nl (BDI) Details

Blina Minerals NL engages in the exploration and evaluation of mineral properties. It primarily evaluates for cobalt, lithium, and zinc projects, as well as explores for coal, copper, gold, manganese, or iron ore projects. Its project portfolio includes the La Cobaltera project in Chile; the Diakouli gold project in Burkina Faso; and the Dingo gold project in Western Australia. The company was formerly known as Blina Diamonds NL and changed its name to Blina Minerals NL in March 2011. Blina Minerals NL is based in Subiaco, Australia.

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Executives, Board Directors

blina minerals nl
Blina Minerals NL Announces Management Changes

Blina Minerals NL announced the appointment of Mr. Matthew Driscoll as Non-Executive Director of the Company effective immediately. He has over 30 years' experience in capital markets and the financial services industry with major financial institutions. He is an accomplished company director in roles with listed and private companies, undertaking leadership positions on the Board (as Chairman) and on various committees. The company also announced that Mr. Jay Stephenson has resigned as a director of the Company. He has served as a director of the company since October 2016 and has played an integral role in the Company's development.

Blina Minerals Announces Consolidated Earnings Results for the Half Year Ended December 31, 2018

Blina Minerals announced consolidated earnings results for the half year ended December 31, 2018. For the period, the company’s loss from operating activities was AUD 372,140 compared to AUD 696,989 a year ago. Loss from continuing operations was AUD 361,121 compared to AUD 694,898 a year ago. Basic and diluted loss per share was 0.0084 cents compared to 0.0238 cents a year ago.

Blina Minerals NL Announces Operational Update

Blina Minerals NL conducted another campaign of exploration due diligence during the last quarter of 2018 on the Maintirano Copper Project, a strategic landholding of 1,757 square kilometres in western Madagascar. Blina has a signed Option Agreement with Madacu Resources Pty Ltd. ("Madacu") and is conducting due diligence studies. Fifteen more remote copper occurrences were visited and 59 samples collected and assayed. The chemical analyses received in December 2018 returned high-grade values with one sample registering 37.5% copper and 33ppm silver, and a total of 8 samples registering in excess of 5% copper. High grade samples seem to coincide with steeply dipping veins which contain secondary copper carbonates, chalcocite and cuprite. Samples with more than 15% copper content were collected from 3 different geographical locations over 10km distances away from each other, supporting the theory of a large-scale system. Blina recognises the importance of the veins (containing observed chalcocite and covellite) as excellent target for the planned aerial magnetic survey and is confident to discover a number of additional veins under cover for subsequently envisaged reconnaissance drilling. Blina is optimistic the planned aerial surveys will discover additional vein systems as the Maintirano area has not seen any sophisticated exploration methods applied, all recently visited occurrences were predominantly ‘discovered’ by pastoralist by coincidence, in partly very remote areas. Based on the recent observation it is assumed that the vesicular lower grade occurrences are fed by veins not necessary reaching to the surface but could potentially be located by aerial magnetic methods. Blina is, through the recent observations and results, further encouraged that the copper mineralisation is similar to the structural setting and style of mineralisation as the Keweenaw Copper Province in Michigan, USA where 11 billion pounds of refined copper from ores grading between 1.5% and 3.0% copper was produced over a period of 100 years. The company also announced that it has extended the Due Diligence Period with Madacu Resources Pty Ltd. until 22 February 2019 to allow for outstanding due diligence to be completed to the Company's satisfaction on the local holding company. Blina, as previously announced on 19 November 2019, has entered into a Binding Option Agreement with Madacu Resources Pty Ltd. (Madacu) to explore for copper in Madagascar. The exploration-stage project has in excess of 30 known copper occurrences identified at surface in an un-explored province. Madacu conducted an initial short helicopter-based programme, which was subsequently followed up by a due diligence programme by Blina and the recent programme during the last quarter 2018. This number of visits was required due to the remoteness of some of the areas, requiring, even in dry season conditions, 4x4 vehicles, trail bikes and extensive walking to conduct the programme. In total 59 samples were collected over the permits during the programmes, in addition to the 54 samples collected previously, with recent copper analysis results exceeding 37% copper.

 

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