M&A

Bryah homing in on Horseshoe manganese potential

COPPER-gold junior Bryah Resources is looking to add to its manganese portfolio after signing options covering the historical Horseshoe South manganese mine in central Western Australia.

 Bryah geologist Rohan Williams with Horseshoe Flats mine in background.

Bryah geologist Rohan Williams with Horseshoe Flats mine in background.

Bryah is to pay A$120,000 cash for the mining lease and manganese rights to ground next door to the recently opened Horseshoe Flats manganese mine.

A further $340,000 is due if the option exercised, with half the consideration to be paid in cash.

Horseshoe South was last operated in 2008-2011 by Mineral Resources.

Aside from its overall exploration potential, Bryah is keen to assess the potential of low-grade stockpiles at Horseshoe South to be "monetised".

The manganese price is up about 50% over the past 12 months, with both supply and demand issues trending the right way for producers.

The positive macro outlook includes potential increased demand from the battery sector.

Bryah raised A$5 million last year and listed on the ASX on the back of its copper and gold assets.

Shares in Bryah were up 15% to 15c in afternoon trade, capitalising the company at $8.5 million.

Shares in the company are up about 50% over the past couple of weeks.

Bryah started the current quarter with $3 million cash.   

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.