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SHANTA COST SAVINGS YIELD LOSS-TO-H1 18 $7.1M PROFIT TURNAROUND

Fine tuning sees operational cost savings offset lower gold production, to take Shanta Gold from a loss to an H1 18 $7.1M profit

MORE RECORDS IN EVOLUTION’S FY18 PROFIT JUMP TO $263.4M

Just about the only negative in Evolution Mining’s FY18 result was a fall in gold-silver production, with all the other major markers up for a 21% profit jump to $263.4M

YANCOAL AUSTRALIA MULLS UNDERGROUND DEVELOPMENT OF HUNTER VALLEY MINES

Yancoal ponders more development and brownfield exploration options after posting a half-year profit turnaround on the strong performance of its former Rio Tinto mines.

HIGHER FY PROFITS STRENGTHEN MINERAL RESOURCES FOR FURTHER GROWTH OPPORTUNITIES

West Australian mining services and processing company Mineral Resources secures higher profits and eyes full-cycle development opportunities.

AVESORO LOOKING FOR BETTER H2 18 AFTER Q2 18 FALLS

Avesoro Res has flagged a better H2 18 on a range of mine improvements after a Q2 18 that saw cash flow/EBITDA plunge on lower gold prod/costs

BARTONS SUCCESSES HAVE MILLENNIUM EYEING MORE UNDERGROUND MINES AT NULLAGINE

Good progress with the first underground mine has Millennium Minerals looking at an early production start and the potential for more underground developments at its Nullagine gold project in Western Australia.

FLORIDA CANYON TAKEOVER PRODN LIFTS ALIO GOLD Q2 18 PROFIT

The completion of the Rye Patch Gold takeover and the addition of its Florida Canyon production has lifted Alio Gold’s Q2 18 prodn and profit to $3.28M

HISTORIC AGREEMENT RAISES THREAT TO 10% CONSOLIDATED PLOMOSAS ZINC INTEREST

Australian-based project developer Consolidated Zinc says it will contest a claim by a low-profile private company for a 10% free-carried share in its Plomosas project in Mexico.

EXTRA COSTS PUSH ARGONAUT Q2 18 PROFIT DOWN $11.8M TO $400,000

Lower production and higher/extra costs have slashed Argonaut Gold’s Q2 18 net income to $400,000, but with adjusted net profit falling to $7M from $7.9M

ASSET SALE IMPAIRMENT PUSHES MANDALAY Q2 18 LOSS OUT TO $23.7M

The $11.6M deal to sell Manadalay’s Chilean asset has come with a $23.7M impairment that’s taken the company’s Q2 18 loss out to $23.7M

MOD RESOURCES BOOSTS BOTSWANA T3 PROJECT THROUGHPUT PLANS FOR RESOURCE GROWTH

A review of optimal operational and financial outcomes has prompted MOD Resources to lift the planned plant throughput by 20% at its feasibility-stage T3 copper project in Botswana.

TREVALI Q2 18 PROFIT FALL, DESPITE ZINC-SILVER RISE

With zinc-silver up, but lead down, Trevali Mining has seen its Q2 18 profit slide $5M+ to $23.5M

GLENCORE LIFTS H1 18 PROFIT TO $2.77B

Glencore’s H1 18 metals/minerals business adjusted EBITDA up $1.33B, lifting overall profit 13% to $2.77B

GOLDEN REIGN ALL-SHARE BID FOR MARLIN MINING

Mutually agreed all-share Golden Reign bid for Marlin Mining to spawn restructured Mako Mining with current and near future gold-silver production

COPPER MOUNTAIN Q2 18 PROFIT PLUNGE TO $3M

A steady production Copper Mountain Mining Q2 18, with revenues up, has failed to offset a $7.7M profit fall to $2.9M.

TASEKO STORMS BACK FROM 2017 FIRES WITH Q2 18 LOSS CUT

The Gibraltar mines’ recovery from the 2017 summer fires sees Taseko Mines back on track with big Q2 18 production, sales, grades and recovery increases

MT WELD UPGRADE KEEPS 25-YEAR RESERVES CUSHION FOR RARE EARTHS LEADER LYNAS

A 60% increase in ore reserves at its Mt Weld rare earths mine in Western Australia keeps special materials company Lynas Corporation on target to retain its position as a leading non-Chinese supplier to the specialty materials market. John Feary reports

ECHO BFS SEES 746,000oz INITIAL 8.5-YEAR LoM BRONZEWING REVIVAL

New study envisages Echo Resources’ WA gold project generating $1.2B in its 1st 8.5-years, giving it a post-tax NPV 8% of $135M and 147% IRR. By Mark Mentiplay

RECORD TERANGA Q2 18 GOLD, BIG PROFIT JUMP LIFTS 2019 GUIDANCE TO 230,000oz

Record Teranga Q2 18 gold prodn for a big profit jump lifts 2019 expectations to top-end 230,000oz with Wahgnion in the wings

ENDEAVOUR Q2 18 PROFIT PLUNGE, PRODN DOWN

Despite lower Q2 18 gold production and higher costs, Endeavour is clinging to 800,000pa+ in FY/CY19 at AISC below $800oz. By MBM’s North American correspondent
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MARINDI METALS DRILLING TO ESTABLISH NEWMAN ZINC PROSPECT POTENTIAL

A 3,000m drilling program beginning on the highly prospective Newman zinc project at the northern margin of the Capricorn Orogen in central Western Australia holds the key to the market judgment of Perth-based base metals explorer Marindi Metals.
Marindi acquired 100% of the project in mid-2015 from former joint venture partner Prairie Mining, when it chose to focus on its Lublin coal project in Poland.

'GAME-CHANGER' RAISES WAF POTENTIAL TO BOOST TANLOUKA PROJECT ECONOMICS

The potential to add carbon-in-leach processing and increase production or mine life at the Tanlouka gold project in Burkina Faso has prompted broker Hartleys to revisit its price target for West African Resources.
The broker has lifted its 12-month target for the Australian-based explorer to $A0.16cps from 12cps previously.
Hartleys said the Tanlouka project offered a low-capex, high-margin heap leach starter project following the game-changing M1 discovery at Tanlouka.

PILGANGOORA PUTS PILBARA MINERALS AHEAD OF THE LITHIUM PACK

Having the world's second largest hard-rock lithium deposit at its Pilgangoora project in Western Australia's Pilbara region ranks Pilbara Minerals above other emerging producers in size, grade and costs.
Foster Stockbroking has initiated research coverage on Pilbara Minerals with a buy recommendation, at a 12-month price target of $A0.47 per share.
The target is based on Pilgangoora being further de-risked in 12 months due to progress on a definitive feasibility study, financing and permitting.

RAMELIUS' THIRD MINE LIFTS FULL YEAR FORECAST TO 110,000oz

After posting above-guidance production of 27,793oz in the December 2015 quarter, Ramelius Resources is well positioned for the coming quarters with the Vivien project now coming into production.
The company has once again boosted its guidance for the full year to 110,000oz at all-in sustaining costs of $A1,150/oz (from 104,000oz at $1,200/oz previously), and broker Taylor Collison sees that trend continuing.
The situation prompted Taylor Collison to retain a "buy" recommendation, raising its price target by 7.7% to 42c.

AUSTRALIAN GOLD MINER GASCOYNE LIKELY TO BECOME A TARGET

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.

KAROWE POSITIONS LUCARA AHEAD OF ITS PEERS IN DIFFICULT MINING MARKET

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.

WEST AFRICAN RESOURCES' ROBUST BURKINA PROJECT SET TO BENEFIT FROM GOLD TURNAROUND

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.

MATILDA KEEPS BLACKHAM RESOURCES ON TRACK FOR MID-2016 PRODUCTION

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.

MEXICAN SILVER DISCOVERY SHOWS STRONG POTENTIAL FOR AZURE MINERALS

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.

DIAMONDCORP DELAYS TO START OF PRODUCTION AT LACE INCREASE RISKS

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.

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GOLD FIELDS PLANS MORE JOB AND OUTPUT CUTS IN NEW SOUTH DEEP TRANSFORMATION BID

(PRODUCTIVITY) Gold Fields is making another attempt to stem the cash burn at its South Deep mine in South Africa, announcing restructure plans that will see it cut workforce numbers by 28% while it seeks to transform it into a modern, mechanised operation.

BARRICK CHIEF BLASTS MINING INDUSTRY DISEASE, DISASTROUS DEALS AND POOR DECISIONs

(COMMENTARY) In wide-ranging criticism of the corporate performance of his company and across the mining industry, Barrick chief John Thornton sees Chinese partnerships as the most likely route for gold giant to build a global copper company.

STRATEGY SWITCH SPEEDS CONSOLIDATED ZINC PLANS TO REVIVE HISTORIC PLOMOSAS MINE

(DEVELOPMENT) Increasing resources and growing confidence in its mining studies have encouraged Consolidated Resources to adapt a staged development strategy that will see the historic Plomosas zinc-lead-silver mine back in production by the end of this year.

FAST PROGRESS AT MADAGASCAR MINE KEEPS BASS ON TRACK FOR PRODUCTION TARGET

(INDUSTRIAL MINERALS) Quick Graphmada graphite ramp-up has Bass Metals on track to become a material producer of industrial concentrates from its new Madagascar project.

MINER NEW HOPE GRABS A GROWTH OPPORTUNITY IN WESFARMERS EXIT FROM COAL MINING

(COAL MARKETS) Australian miner New Hope's confidence in the continuing demand of Asian power generators for thermal coal lies behind its planned $860M acquisition of Wesfarmers Resources' 40% stake in the Bengalla coal mine.

BHP MOVING TO FEED BURGEONING NICKEL EMPHASIS FOR ELECTRIC CARS

BHP is moving quickly to feed an increasing nickel need for electric cars as new technology moves to cut cobalt/manganese requirements

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