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West Australian explorer Gascoyne Resources is one of only a small number of AUD gold developers left on the ASX after recent consolidation of the sector.
Hartleys initiates its coverage of the company, describing it as a forgotten Australian gold play. Gascoyne has two 1Moz-plus gold projects in Western Australia, Dalgaranga and Glenburgh.

The consistent flow of special diamonds from the 100%-owned Karowe mine in Botswana helps Canadian-based Lucara Diamond Corp to present a compelling investment case in a market that has seen weak performance as slowing demand from China has impacted the small and mid-market.
The capacity of Karowe to produce higher value and exceptional stones positions Lucara better than its peer group in this market, broker SP Angel noted.

Australian-based West African Resources has a robust, low-capex and high-margin potential development at the Tanlouka gold project in Burkina Faso.
The company is looking to develop the Mankarga 5 (M5) oxide heap leach starter project at Tanlouka in CY16, expecting to produce about 70,000oz pa at AISC of $US538/oz in years 1-3 with modest capital requirement of about $47M.

The completion of a prefeasibility study on the Matilda gold project in the Wiluna region of Western Australia brings Blackham Resources another step closer to recommencing production at the Wiluna processing facility in mid-2016.
Blackham will now incorporate the recent drilling into an upgraded reserve and resource, complete the definitive feasibility study and commit to the Wiluna processing facility refurbishment.

Australian broker Patersons Securities has established explorer Azure Minerals as a speculative buy on the basis of its Mesa de Plata prospect at its Alacrán project in northern Mexico, which it describes as potentially the most exciting silver discovery in recent times.
RC drilling has confirmed a high-grade horizontal layer of silver mineralisation up to 70m thick and outcropping at surface.

UK broker and analyst SP Angel said it was taking a more cautious outlook on UK-based African diamond mine developer DiamondCorp driven by delays in revenues from its under-development Lace mine in the Free State province of South Africa as production is held-up and sales deferred.
In an independent research update, the analyst reduced its target price for DiamondCorp shares to 14p from 17.5p previously.

Plans by Elementos to begin a low-cost tailings retreatment operation at the Cleveland tin-copper-tungsten project in NW Tasmania are backed in a research report by Australian advisor Beer & Co, whose modelling gives a positive valuation at current prices with significant upside from better tin prices.
A prefeasibility study by Elementos assessed the reprocessing of 3.7Mt of tailings grading 0.3% tin and 0.13% copper at a rate of 650,000tpa and producing 900tpa Sn at an all-in cost of $US4.67/lb.

Appropriately, as Australia builds up to its annual craziness of the world's richest two-mile horse race, the Melbourne Cup, broker Hartleys has chosen a racetrack metaphor to introduce its coverage of gold miner and developer Ramelius Resources.
Hartleys suggests the turnaround of Ramelius is well underway, with the company now operating three mining centres in Western Australia and feeding the Mt Magnet processing plant at about 100,000oz pa and moving towards about 130,000oz pa in FY17.

Mozambi Resources has made speedy progress on its Nachingwea graphite project in SE Tanzania, which is becoming a new province for coarse flake graphite deposits with potential for large tonnage resources.
A work program involving mapping, trenching, ground geophysics and follow-up drilling is underway to identify and rank the graphite targets.
Mozambi has already reported wide zones of graphite mineralisation outcropping on several targets and preliminary results indicate the presence of large flake sizing.

Talga has passed some major milestones towards becoming a key global producer of graphene, a market projected by advanced materials research group BCC to be worth $US1.3B pa by 2023, Canaccord Genuity (Australia) reports in a research note.
In recent months, the company has successfully completed trial mining, set up processing of ore at its phase 1 pilot plant and confirmed the production of high quality graphene and graphite products.


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