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The future of Australian explorer Excelsior Gold’s Kalgoorlie North gold project, which hosts the resource-rich Zoroastrian deposit, is reliant on the gold price, research house Independent Investment Research reports.
The company recently increased resources at Zoroastrian to 6.58Mt at an average grade of 2.48g/t of gold, lifting the project’s total resources to 21.4Mt at 1.73g/t.

Foster Stockbroking has slashed its recommendation and target for shares in rare earths explorer TUC Resources after the Shandong Provincial Bureau of Geology and Mineral Resources terminated a $A21.5M exploration boost at the company’s tenements in Australia’s Northern Territory.
The Chinese state-owned company unexpectedly walked away from the deal to take a $2.25M placement in the company and commit to spend $19M on exploration to earn a 50% stake in the eight Stromberg tenements.

Consolidated Tin Mines is on track to deliver first tin production from its Mt Garnet project in Australia by mid-2014 after its major shareholder Snow Peak Mining acquired a nearby processing plant with the potential to process the company’s tin ore, equity research firm Breakaway Research said.  

Australian junior Aguia Resources’ flagship Rio Grande phosphate project in Brazil is set for development due to its predicted low strip ratios and access to local infrastructure, investment advisor Pulse Markets reports.
Aguia’s Rio Grande project consists of the Tres Estradas prospect which has an inferred resource of 29Mt at 4.3% of phosphorous pentoxide including a higher oxide zone from surface of 1.65Mt at 10.5%.

Potash West’s exploration at its $650M 2.4Mtpa Dandaragan Trough glauconite potash project in Western Australia, has turned up additional mineralisation which could provide significant upside at the project, Independent Investment Research said.
Potash is progressing its preliminary feasibility study which is expected to be completed later in 2014 with production tipped for mid 2018.

US-focused explorer Australian-American Mining Corporation has released a second, stronger batch of assays from the drilling program at its Blue Bell VMS copper-gold-silver development in Arizona, with the case building for the discovery of a significant project, broker DJ Carmichael reports.
The results from the company’s maiden drilling program continue to show wide, high grade polymetallic intersections, with the best intersection so far being 17m at 4.6% copper equivalent in the second batch of results.

West Africa-focused Perseus Mining has shrugged off limitations caused by a faulty primary crusher at its Edikan gold project in Ghana, posting quarterly gold production above the expected 57,200oz, investment bank Canaccord Genuity reports.
The company completed major repairs on the crusher in February including a new shaft and mantle and has since experienced higher than expected crushing and milling activities. 

Peruvian-focused Promesa is set to kick off exploration at its 28,500ha Alumbre project in the copper and gold rich Western Cordillera region in Peru as part of a wider $A1.4M drilling program, research house RM Research said.
The exploration works are part of a proposed 5,600m drilling campaign that is scheduled to start mid year pending the approval of an environmental and social study.

Silver-focused Black Mountain Resources’ plan to commence production at two silver projects in the US has the potential to generate strong cash flow in the next few years, UK stockbroker Westhouse said.
The dual listed company intends to bring New Departure in Montana and Conjecture in Idaho into production in the second and third quarters.
The underground development at New Departure is in full swing while its projected production levels have been lifted from 100tpd to 200-250tpd.

Pan-African miner Mwana Africa, which recently dispatched first concentrate from its Bindura Nickel Corporation’s refurbished Trojan nickel mine in Zimbabwe, is turning its attention to increasing throughput and recoveries to help ramp up output to 7,000tpa, investment research firm Edison said.


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