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Mining Bulletin

The full story: In-depth news and analysis

PALADIN FLAGS $81M RESTART FOR ITS NAMIBIAN URANIUM MINE

Paladin’s Langer Heinrich Uranium Mine restart plan flags 17-year LoM peaking at 5.9Mlb pa for 7-years.

UPDATED PFS POINTS TO FASTER START FOR CALIDUS AT WARRAWOONA GOLD PROJECT

Australian explorer Calidus Resources is accelerating plans to commence construction in six months for the development of its Warrawoona gold project in the East Pilbara of WA after an updated prefeasibility study pointing to a lower capital and lower risk route to near-term gold production. John Feary reports

GENESIS MINS $33M DEALS TO ESTABLISH NEW WA GOLD PROJ

Genesis has executive a 2-pronged expansion move to underpin the establishment of a new gold mine in Western Australia

RED 5 TARGETS MID-TIER GOLD PRODUCER STATUS WITH 2-HUB STRATEGY FOR WEST AUSTRALIAN MINES

Red 5 is looking beyond short-term issues that have affected June quarter production with a transitional strategy that will see it establish two independent long-life production hubs in Western Australia.

EXPANSION STUDY POINTS TO LONG-LIFE, LOW-COST DEVELOPMENT AT CARRAPATEENA

Australia’s OZ Minerals has outlined an opportunity to transform its Carrapateena underground copper-gold mine into a world-class project in scale, production, life of mine and costs by adopting a two-stage block cave development to follow its current sub-level cave operation.

NUSANTARA EYES HIGHER INITIAL PRODUCTION AND LONGER LIFE ON AWAK MAS RESERVES GROWTH

Significant growth in reserves have enabled Nusantara Resources to forecast higher initial production and extended mine life as it continues development funding discussions for its 100%-owned Awak Mas gold project in South Sulawesi, Indonesia.

TMAC Q1 20 BREAK BACK, BUT WITH FULL COVID-19 YET TO HIT

Canadian gold miner TMAC Res has staged a $610m turnaround, cutting its Q1 20 loss to $18M

REX MINS’ $71M, 321,565oz GOLD STARTER AHEAD OF HOG RANCH

A new study has flagged a 420,000oz gold start up project to bring on its recently upgraded 1.4Moz Hog Ranch Project in Nevada

$166M AMARILLO GOLD PROJ FLAGS 811,000oz OVER 1st 10-YEARS

Amarillo Gold expects to begin construction of its $166M capex, 811,00oz Posse Gold Project in Brazil next year

PERSEUS EYES EXTENDED LIFE FOR CÔTE D’IVOIRE MINE THROUGH AGREED EXORE TAKEOVER

West African-focused miner Perseus Mining reaches agreement on a $60M merger that will combine its existing producing and near-production assets with the extensive exploration potential of Exore Resources.

NEW BARRICK OFFER TO GET PORGERA BACK INTO GOLD PRODN

Barrick Gold has thrown another 15% stake in the giant Porgera gold mine in PNG into the negotiation pot to get the mine back into operation

FMG REFUSED APPEAL RIGHTS TO ABORIGINAL IRON ORE LAND

FMG has lost a 3-year battle to appeal Aboriginal rights to over 2,700sq km of iron-rich land in Western Australia’s Pilbara region

UNDERGROUND CONTRACT AWARD A MILESTONE FOR MINCOR'S KAMBALDA NICKEL REVIVAL

The combination of extensive local experience and the resources of a new national owner has proved crucial in Mincor Resources’ decision to award the underground mining contract for its Kambalda nickel project to Emeco unit Pit N Portal.

PEA OK FOR WESDOME’S $165M CAPEX KIENA RESTART

Study green light for restart of Wesdome’s 86,000oz pa, 102% after tax IRR, Kiena underground gold project. By MBM’s North American correspondent

LEPIDICO STUDY BACKS FIRST-MOVER BID FOR CRITICAL AND STRATEGIC METALS

Australian-based Lepidico outlines a compelling case for its deliberately modest-scale development of a vertically integrated mining and processing facilities to deliver high-value critical and strategic metals.

NEW CENTURY MULLS TOP 10 GLOBAL FUTURE FOR STRUGGLING PACIFIC PROJECT

New Century Resources eyes the potential to transform Vale’s faltering Goro nickel project in New Caledonia into a long-term world-scale producer after being granted 60-day exclusivity to negotiate the acquisition of a 95% stake.

WESTERN AREAS' $28M PANORAMIC DEAL OPENS DOORS TO NEW ENERGY VEHICLES GROWTH

Western Areas sees its new strategic shareholding and partnership with Panoramic Resources as it works towards the reopening of the Savannah nickel project increasing its exposure to the emerging new energy vehicles global market. John Feary reports

$84M IMPAIRMENT, COVID-19 CLOSURES HAMMER MCEWEN BOTTOM LINE

McEwen Mining’s Q1 20 loss has blown out to $99.2M, hit by an $84M impairment and 3 COVID-19 mine shutdowns

ELEMENT 25 EYES EARLY START ON LOW-COST DEVELOPMENT STRATEGY FOR BUTCHERBIRD

Element 25 has confirmed the potential for its Butcherbird project to be Australia’s next significant manganese mine with a PFS identifying the opportunity for a low-cost, long-life development that will deliver first concentrate much earlier than previously anticipated. John Feary reports.

HUDBAY Q1 20 HIT BY LOWER PRICES, HIGHER COSTS AND MAJOR MINE SUSPENSION

A range of issues across its Americas base/precious metals operations has seen Hudbay Minerals Q1 20 loss blow out to $76M
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AUSTAR GOLD: DEBT DEAL ADVANCES CENTENNIAL ACQUISITION PLAN

 

Melbourne, Jan 13

Australian miner AuStar Gold has confirmed its intention to acquire under-administration Centennial Mining, despite withdrawing a $A2.4M cash plus 25M shares offer for the owner of the A1 gold mine in Victoria.
AuStar says it’s reached agreement now to acquire all the debt owed by Centennial and subsidiary Maldon Resources, which fell into administration in March 2019 after failing in their attempts to improve the mine’s performance.
The company’s aim continues to control a portfolio of high-grade mining and processing assets in the historic Woods Point-Walhalla Goldfield.

AuStar Gold Limited (Mantle Mining Corporation)

Exchange Code: 
ASX:AUL
Website: 
http://www.austargold.com

Brisbane-based emerging gold miner with projects in Queensland and Victoria, Australia.
Feb 2018: Name change from Mantle Mining Corporation Limited

Centennial Mining Limited (A1 Consolidated Gold)

Exchange Code: 
ASX: CTL
Website: 
http://www.centennialmining.com

Perth-based company holding the A1 and Union Hill gold mines and the Porcupine Flat processing plant in Victoria.
Dec 2016: Name change from A1 Consolidated Gold Limited

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