PRECIOUS METALS

Tietto building momentum

Company hits all-time high ahead of expected resource upgrade

This article is 5 years old. Images might not display.

The company's flagship Abujar project already has a resource of 1.7 million ounces at 1.4 grams per tonne gold, including a higher grade component of 1.1Moz at 2.1gpt, released in April.

"Since then, we've seen over 600m of exceptional high-grade gold intersections near surface," Tietto managing director Caigen Wang told the Gold and Alternative Investments Conference last week.

Tietto has completed 20,000m of drilling since the last resource update, receiving some high-grade results, including 76 intersections above 50 gram metres, 13 above 100 and six above 200.

Last week the company hit 21m at 13.02gpt gold, while earlier this month, it hit 20m at 14.8gpt gold, both at the flagship AG deposit.

"There have been significant improvements in grade in this part of the deposit," Wang said.

An updated resource is due in the current quarter.

"We said Q4 which is very much next month," Wang said.

The company has already spent A$20 million on exploration at Abujar, but much of the company's 1114sq.km tenure remains underexplored.

Over a strike length of 70km, less than 10% of the mineralised structures have been explored.

Tietto owns three diamond rigs, which can drill a combined 4500m per month.

A 50,000m drilling campaign has just kicked off, funded via the company's $4.9 million cash balance.

"We're set up for rapid growth in the next few months and coming years," Wang said.

Tietto listed in January 2018 after a $6 million initial public offering priced at 20c per share.

Yesterday the stock hit an all-time high of 42c, and closed at 38c, valuing it at $103.6 million.

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: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.