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The market has virtually ignored the significant value added by Marvel Gold Ltd (ASX:MVL) from the spin-out of Evolution Energy Minerals Ltd (ASX:EV1), according to Bridge Street Capital Partners. At an enterprise value (EV) of $11 million, Bridge Street believes Marvel sits at a deep discount against three other pre-development Mali resource plays.
Marvel Gold Ltd has kicked off an expansive new drilling program at Tabakorole Gold Project in southern Mali. The company has 35,000 metres of drilling planned targeting discoveries and continued expansion of the Tabakorole resource.
Marvel Gold Ltd has delivered a busy September quarter, focusing primarily on the continued exploration and growth of the Tabakorole Gold Project in Mali. During the period, the company identified a new parallel lode at the Tabakorole Northwest Zone, opening the potential for additional ounces within the optimised pit shell.
Marvel Gold Ltd is celebrating today after hitting the one-million-ounce mark in a mineral resource upgrade for the Tabakorole Gold Project in Mali, West Africa. The precious metals explorer and project developer bolstered the resource's contained gold ounces by 12% after an exploration campaign uncovered shallow, high-grade gold zones.
Marvel Gold Ltd made considerable progress in FY21, securing an attractive portfolio of exploration assets and expanding its mineral resource at Tabakorole Gold Project. The Malian focused gold explorer has assembled a portfolio of five projects through a mix of acquisitions and joint ventures.
Marvel Gold Ltd has taken another key step in spinning off its Chilalo Graphite Project asset in Tanzania with a prospectus lodged for spin-off vehicle Evolution Energy Minerals Limited. Providing a launching pad for the A$22 million initial public offer (IPO) at $0.20 cents per share is the participation of prominent investment fund, ARCH Sustainable Resources Fund LP (ARCHSRF), which has a strong environment, social and governance (ESG) focus.
Marvel Gold Ltd has welcomed approval from the Tanzanian Fair Competition Commission (FCC) for the spin-out of the Chilalo Graphite Project, which will see Evolution Energy Minerals Limited become the owner and operator of the Chilalo Project. Importantly, approval of the FCC allows the initial public offer (IPO) of Evolution to now proceed and a prospectus inviting investors to subscribe for Evolution shares under the IPO is expected to be lodged with the Australian Securities and Investments Commission within one week.
Marvel Gold Ltd has confirmed a shallow, higher-grade parallel lode of mineralisation from a resource expansion drill program at its Tabakorole Gold Project in southern Mali. The company has recently received assays for the final eight diamond drill holes totalling 1,296 metres and strong results include: 17 metres at 3.6 g/t gold from surface; 4 metres at 2.4 g/t from 35 metres; and 21 metres at 1.5 g/t from 26 metres.
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