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Discussions about the future of Highlands Pacific’s Frieda River copper-gold project in Papua New Guinea are continuing after it challenged work by Xstrata Copper, with significant cash flow hinging on the successful development of the project, Independent Investment Research said.

Emerging producer Primary Gold’s Toms Gully underground project in Australia’s Northern Territory, which last month posted a 96% resource increase to 275,000oz gold, holds solid development potential, stockbroker Patersons Securities reports. 
Primary is conducting a feasibility study at Toms Gully, part of the wider Mt Bundy gold project, with outcomes and a reserve statement to be completed this quarter.

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.


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