Rupert Res Ltd Stock Price, News & Analysis

Rupert Resources has provided an exploration update from its properties in Central Lapland, Northern Finland, highlighting significant drilling results at Heinä South, located 1km from the 4Moz Ikkari Project. Key findings include high-grade mineralization of 45.7g/t Au over 8m including 362g/t Au over 1m in hole #125001, and additional high-grade intercepts of 83g/t, 66g/t, and 31g/t Au in separate drill holes.

The company conducted a 13-line 26km IP survey along the 'Rajala Line' structure, confirming the presence of similar stratigraphy to the Ikkari orebody over >7km strike length. Since December, >2000 base of till samples have been collected as part of their greenfield exploration program, focusing on the Rajala area and the recently acquired Sayna exploration permit.

Rupert Resources (TSX:RUP) has successfully closed its previously announced 'bought deal' public offering, raising $51.75 million through the issuance of 11,500,000 common shares at $4.50 per share, including the full exercise of the underwriters' over-allotment option.

The offering was led by Cormark Securities Inc. as lead underwriter and sole bookrunner, alongside BMO Capital Markets, Scotia Capital Inc., and Canaccord Genuity Corp. Additionally, the company plans to close a non-brokered private placement of up to 7,250,000 common shares at the same price on April 1, 2025, potentially raising an additional $32.625 million. Agnico Eagle Mines has indicated its intention to maintain its pro-rata ownership through participation in the private placement.

The combined proceeds will fund ongoing exploration expenditures, technical and environmental studies on the company's Finnish properties, and general corporate purposes.

Rupert Resources has completed a Pre-feasibility study for its 100% owned Ikkari Project in Northern Finland, revealing compelling project economics. The study confirms a Probable Mineral Reserve of 52Mt at 2.1g/t Au for 3.5Moz Au, representing an 85% resource conversion.

Key financial highlights include an after-tax Net Present Value of $1.7 billion with an IRR of 38% and 2.2-year payback at $2,150/oz gold price. The project features lowest quartile all-in sustaining costs of $918/oz over its 20-year life of mine, with even lower costs of $717/oz during the first 10 years.

The project requires an initial capital investment of $575 million and will operate as an open-pit mine for the first 10 years, producing an average of 227koz gold annually, before transitioning to underground operations for years 10-20. First gold pour is targeted for 2030, following Environmental Impact Assessment submission and Definitive Feasibility Study initiation in H2 2025.

Rupert Resources has released its unaudited financial results for the three and nine months ending November 30, 2024. The company maintains a strong balance sheet with C$47M in cash, providing financial stability to complete the Prefeasibility Study (PFS) for Ikkari in Q1 2025 and fund winter exploration.

During the nine-month period, the company invested C$23.8M in exploration projects, up from C$20.4M in the previous year. The company recorded comprehensive losses of C$3.1M and C$5.3M for the three and nine months respectively.

The 2023/24 drill program was completed with 43,000 metres of drilling, including 24,000m at Ikkari. The 2024/25 exploration program is now underway, targeting six areas along the 15km regional trend east of Ikkari. The company is progressing with Environmental Impact Assessment (EIA) Program and Land Use Planning, with plans to file EIA report documents during 2025.

Rupert Resources (TSX: RUP) provided an update on its Ikkari Project Prefeasibility Study (PFS) and exploration programs. The company plans to publish the PFS report in Q1 2025, with the Definitive Feasibility Study (DFS) to follow. Key 2024 highlights include the discovery of a new high-grade zone at Heinä South, metallurgical test work confirming simplified flowsheet with over 95% recoveries, and progression of advanced engineering.

Important 2025 catalysts include drilling of Ikkari satellites in Q1, PFS publication in Q1, and Environmental Impact Assessment submission in H2. Recent exploration focused on the Rajala Line east of Ikkari, where IP surveys identified locations sharing similar structural settings to Ikkari. Follow-up drilling at Heinä South will target previous high-grade intersections of 25m at 16.5g/t Au and 24.4m at 10.5g/t Au.

Rupert Resources has announced a change in its fiscal year-end from February to December. This modification aims to better align the company's financial reporting with industry peers and external reporting obligations, including sustainability reporting. The company will file its annual disclosures in March 2025 for the 10-month period ending December 31, 2024. Detailed information about interim reporting procedures will be available in the Company's Notice of Change of Financial Year-End on SEDAR.

Rupert Resources has released its unaudited financial results for the three and six months ending August 31, 2024. Key highlights include:

- Cash balance of $52,422,385 as of August 31, 2024
- Spent $17,711,186 on exploration projects during the six-month period
- Net loss of $(1,453,606) for the three months and $(2,199,432) for the six months
- Completed a 43,000-meter drill program in 2023/24, with 24,000 meters at Ikkari

The company is progressing with its Pre-feasibility Study (PFS) for the Ikkari project, with critical path items substantially complete. The 2024/25 exploration program is underway, focusing on six target areas along the 15km regional trend east of Ikkari. Rupert Resources is also advancing permitting and environmental work, aiming to file EIA report documents during 2025.

Rupert Resources has reported exceptional gold recoveries from metallurgical testwork at its Ikkari project. Key highlights include:

1. A bulk sample demonstrated 96.4% Au recovery from a head grade of 1.99g/t, including a significant gravity recoverable gold component.

2. Variability samples returned recoveries between 93.4% and 98.8% across a range of head grades.

3. Drill hole #124054 intersected 192m at 3.6g/t Au from 39m downhole, including 12.45m at 9.8g/t Au from 123.25m.

4. The company has identified seven priority targets for drill testing in the winter 2024/2025 season.

5. A pre-feasibility study is targeted for delivery in the second half of 2024.

Rupert Resources announces a significant leadership change, with Graham Crew appointed as the new Chief Executive Officer and Director, effective October 14, 2024. Crew will succeed James Withall, who has led the company since April 2017 and will step down from the Board but continue as an advisor. Under Withall's tenure, Rupert Resources made a major greenfield gold discovery at Ikkari, now progressing towards development as a long-life, high-margin project.

Graham Crew brings over 25 years of international mining experience, most recently as Chief Technical Officer for La Mancha Resource Capital. His expertise in operations, project development, and corporate strategy aligns with Rupert's next phase of growth, focusing on engineering, permitting, and stakeholder engagement for the Ikkari project in northern Finland.