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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.

The acquisition of the advanced Double Magic nickel-copper discovery in the West Kimberley region of Western Australia has given Buxton Resources strong leverage for continued exploration success, Hartleys reported.
Buxton continues to report high-tenor (visual) nickel-copper sulphide extensions at Conductor D, part of the Double Magic Project.
Continuing Phase 2 drilling is largely designed to further follow-up Conductors D and C as well as new targets generated from recently completed EM surveys.

The planned merger of Anatolia Energy with Uranium Resources Inc announced in early June would give the Australian-based company access to a highly experienced technical team as it moves to the next stage of development of its Temrezli uranium project in Turkey, Breakaway Research found.
URI has been operating in the US uranium industry since the late 1970s. It has two uranium operating licences and two idled processing facilities in Texas as well as extensive uranium landholdings and exploration databases in Texas and New Mexico.

Toro Energy has continued to work with The Sentient Group to place itself in a position envied by many mining operators, RealFin reports.
The company has reduced financing costs, deleveraged the balance sheet and ensured it has more than sufficient cash available to enable a cautious approach to the Wiluna project commencement.

The Cyclone zircon project 300km north of Eucla in Western Australia remains Diatreme Resources' focus project, supported by connections that wish the project to proceed, Beer & Co reported.
Diatreme is currently executing a value engineering study to reduce the capital and operating costs while going through the environmental approval process for the project's haul road to the Forrest rail siding.

The high level of commitment to exploration, with a large proportion of expenditure going directly into the ground, rigorous and innovative technical work and strong funding encouraged Breakaway Investment Group to maintain its speculative buy rating on Australian explorer Thundelarra Exploration.


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