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Mining Bulletins

The full story: In-depth news and analysis

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

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.

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

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.

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

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

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.

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

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

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

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

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

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

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

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

A couple of asset sales have rescued Centerra Gold’s Q2 18 bottom line to $43.5M, but with adjusted net earnings down to $1M from $13.5M on lower gold production from Kumtor

Strong results from its US regional operations have helped South African-based gold and platinum producer Sibanye achieve a turnaround to R77M profit for the June half-year.

Just weeks after achieving first production from its Pilgangoora lithium-tantalum project in Western Australia, Pilbara Minerals has outlined more expansive plans to meet the growing demand for lithium raw materials in north Asia and further afield.

KAZ Minerals is betting its experience of developing large-scale, low-cost mines in Kazakhstan can be transferred to a likely $US5.5B capital project in the remote Chukotka region of far eastern Russia with its acquisition of the Baimskaya copper project.

The 1st development of Aquila Resources’ $405M, $259M NPV Back-40 gold-zinc project in Michigan envisages 468,000oz gold/512Mlbs zinc over an initial 7-years

GME Resources plans more engagement with potential strategic partners and offtake parties after completing a prefeasibity study on its proposed $US966M development of its NiWest nickel-cobalt project in Western Australia.

Gold equiv production/sales down and costs up push Kinross Gold profit down to $2.4M from $125M

Red 5 says it's on-track to become a 100,000ozpa Australian gold producer in the coming 12 months after posting a 133% increase in ore reserves at its Darlot and King of the Hills projects in WA. John Feary reports

Unrealised costs, lower gold output, higher production costs fuel $9.5M Q2 18 profit-to-loss turnaround for Alamos Gold

The Philippines government has finally given approval for Red 5 to construct new tailings facilities at its Siana gold mine, but the Duterte administration's anti-mining rhetoric remains a strong deterrent to reopening the mothballed project.

Beadell Resources has reduced FY2018 gold production guidance by 13% as it juggles the disruptions of a change of mining and project management operators and delays in completing a plant upgrade at its Tucano gold mine in Brazil.

Talks with the West Australian government over the formula for calculating state royalties hold hopes for BCI Minerals of smoothing the volatility of earnings from the Mineral Resources-operated Iron Valley mine. John Feary reports

A substantial cut in New Gold’s FY18 gold expectations has come with Q2 18’s loss blow out to $302M helped by a $282M impairment. By MBM’s North American Correspondent

Yamana Gold flags FY18 gold-copper guidance rises on Q2 18 $173M loss-to-profit turnaround


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