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Increased focus on underground development in the coming year has Philippines producer X64 lowering its forecast FY23 production guidance for the Co-O gold mine in Mindanao.
Its revised forecast, following a detailed management audit and review, shows production of 84,000-89,000oz at AISC of $US1,320-1,370/oz. It compares with actual FY22 production of 89,789oz at $1,362/oz.
X64 says the costs for development of the Tigerway...
“Stunning” results from the first hole of a diamond drilling program are highlighting the potential of Tennant Minerals’ Bluebird copper-gold project to rival other high-grade deposits such as Peko and Nobles Nob in the Tennant Creek Mineral Field of Australia’s NT.
Chairman Matthew Driscoll says the results have continued to intersect thick, high-grade copper but also discovered a distinct high-grade gold shoot with bonanza grades up...
Assays for the first of a new round of drilling at the Bluebird prospect in the Tennant Creek Mineral Field in Australia's Northern Territory would have raised eyebrows in the boardroom of Tennant Minerals, with a new gold-rich zone outlined in the broader high-grade copper gold deposit.
This showed up a rich new shoot with grades up to 38.5 grams/tonne gold.
The intersection in BBDD0012 was 63 metres grading 2.1% copper and 4.6 g/t gold from 153m downhole.
This included 40m...
Significant growth with new projects and ramp-ups for its Pit N Portal mining services business has helped Australian equipment supplier Emeco post a 22% increase in revenue to $A754.4M for the year to end-June, from $620.5M a year earlier.
CEO-MD Ian Testrow says COVID disruptions, labour shortages, inflation and weather events were overcome with operating EBITDA of $250.2M (FY21: $237.7M), just meeting its $250-260M guidance, and NPAT of $68.9M ($56....
Canadian miner PureGold says its multi-disciplinary team led by SRK Consulting is on track to complete an updated life of mine plan and new PFS in the Dec qtr for its namesake mine near Red Lake in Ontario.
COO Terry Smith says the company and consultants are working collaboratively on a smooth integration of the new plan with its existing systems.
The PureGold mine delivered 3,509oz in the June qtr (Q2), compared to 6,653oz in the...
A new production and sales agreement with local mining and logistics operator Brahma Energies is forecast to deliver monthly output of at least 4,000tpm washed coal from Edenville Energy’s Rukwa project in Tanzania.
Edenville, which has been battling operational issues that saw it terminate its previous mining contract with Nextgen in May, says output could grow to 6,000tpm in two months.
Brahma will operate and...
The rapid growth in rock phosphate prices has prompted Australian explorer Avenira to study the potential fast track development of a direct shipping ore operation at its 100%-owned Wonarah project in the NT.
Avenira says Wonarah’s high-grade measured and indicated resource of 300Mt @ 18.2% P2O5 supports the direct shipping of phosphate ore to regional offtake customers.
The company is seeking proposals from contractors for the DSO...
West Australian miner Mt Gibson Iron is preparing to revise FY23 sales and cost guidance at its Koolan Island mine after a crushing plant fire forced the suspension of processing for an indeterminate period.
The Aug 12 fire, during a maintenance shutdown, was extinguished without injury. Full damage is still being assessed.
Mining is continuing while MGX has begin planning for processing to resume at about 40% capacity from late Aug.
The...
Australian company New Age Exploration has consolidated its position as a leading explorer in New Zealand with the grant of a 499sqkm prospecting permit over its 100%-owned Marlborough gold project at the top of the South Island.
NAE plans an initial program of geophysical review, mapping, rock chip and soil sampling in the current quarter while continuing work on its existing permits further south in Central Otago.
Melbourne-domiciled explorer New Age Exploration has been granted a gold exploration permit near the top of New Zealand’s South Island, making it one of the sprinkling of Australian explorers active across the Tasman.
NAE’s persistence with a gold quest on the South Island began several years ago in East Otago, where it has been seeking targets similar to the region’s early vein gold finds as well as clones of the national flagship, OceanaGold’s massive Macraes low-grade 3 million ounce...