Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

South American miner Orosur is in the midst of a declining gold production rescue operation with its operations either closed or near it after a FY18 $40M net loss.

Australian company Northern Star is eyeing the potential to become a 1Mozpa global gold producer with its audacious $US260M deal to acquire the giant Pogo underground mine in Alaska from Sumitomo Metal Mining.

A resurgent Perseus Mining, with the new Sissingue mine now safely ensconced, has seen record gold production cut its FY18 loss by $58M to $25M

Updated DFS flags long, profitable life for Terramin Australia's well sited $639M Algerian zinc-lead project, generating base case cash flow of $A2B

A $15M financing deal for an earlier start/cash flow for Aspire Mining’s Mongolian coal proj will lift Mongolian nationals shareholding in the company to 32%. By Mark Mentiplay

West African miner Perseus Mining will abandon current selective mining strategies and lower production rates for a stronger, smoother outcome in a new mine plan for its Edikan gold mine in Ghana.

$100M CHAARAT RAISING INCLUDES $75M BID FOR UNKNOWN GOLD MINE
Chaarat Gold has completed the 1st 25% of its $100M raising, which includes $75M for an undisclosed 50,000oz pa AuEq mine. By MBM’s UK correspondent

Chaarat Gold has completed the 1st 25% of its $100M raising, which includes $75M for an undisclosed 50,000oz pa AuEq mine

New funding sees Pilbara Minerals’ stage-2 WA lithium-tantalum expansion proj just short of the required $231M capex with about $215M committed. By Mark Mentiplay

West Australian nickel developer Poseidon shuns a potential takeover offer to pursue its $75M fund-raising plans.

Record order book and strong project pipeline deliver full year profit turnaround for Australian-based mining contractor Macmahon. John Feary reports

A reshaped, inflation conscious commodities portfolio and a stronger prices environment have lifted South32’s FY18 profit to $1.33B

As mining at Hillgrove Resources’ sole producing Kanmantoo mine approaches its end in mid-2019, the company has lifted its H1 18 bottom line 275% to $14M

Upgraded DFS sees $500M revenue from Thor Mining’s Molyhil Tungsten project over an initial 7-year LoM starting in 2020, with potential for more. By Mark Mentiplay

Australian gold leader Newcrest sees room for more expansion in a prefeasibility study at its flagship Cadia Valley mine in NSW.

Polymetal Int’l H1 18 cash flow rockets 166% on increased gold equiv prodn for $55M profit jump to $175M.

Former Gold Fields Exploration M/D to face Sept 27 sentencing after being convicted of insider trading charges relating to former Minotaur J/V

A volatile nickel market year has seen Western Areas’ FY18 production fall and costs rise, slashing its profit to $11.8M

New production from Dugald River and higher commodity prices have lifted MMG’s bottom line to $193.4M on revenue to $1.9B

Outgoing AngloGold Ashanti CEO Srinivasan Venkatakrishnan has delivered a strong production and cost performance in the final interim result before he makes way for former Barrick Gold president Kelvin Dukshinsky next month.

Record shipments and a big jump in prices received has more than doubled Kenmare Resources H1 18 profit to $26.4M

Widening discounts by Chinese steelmakers on lower grade iron ore has pushed world No 4 producer Fortescue to a 58% plunge in net profit for FY19.

Red Eagle has suspended its Colombia gold operations for restructure as $70M impairments push Q2 18 loss out to $73M. By MBM’s North American correspondent

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

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

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

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

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