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Mining Bulletin

The full story: In-depth news and analysis

RNC’S AUSSIE BONANZA GOLD DISCOVERY MORE THAN DOUBLES

The size of RNC’s recent bonanza Beta Hunt gold discovery has more than doubled, with the $38M result to be used to accelerate exploration of the mine, historically known for its nickel. By Mark Mentiplay

DA VINCI RESOURCES UPGRADE PUTS DORAY ON TRACK FOR DEFLECTOR GOLD MINE EXPANSION

Doray Minerals has achieved the first step towards a new growth strategy for its Deflector gold-copper mine with the declaration of a resource upgrade for the Da Vinci deposit. John Feary reports

GROWING RESERVES POINT TO HIGHER OUTPUT OVER MORE YEARS AT KALIUM LAKES POTASH PROJECT

West Australian company Kalium Lakes has given the green light for early works and final engineering after completing a BFS that increased annual output and extended the forecast mine life of its Beyondie sulphate of potash project. John Feary reports

VELOCITY BULGARIAN PEA OPENS DOOR TO 100,000oz PA OPERATION

New PEA underpins Velocity’s strategy to develop a 100,000oz+ pa gold operation in Bulgaria, starting with Rozino’s 65,000oz pa

NEW 4.76Moz RESERVE UNDERPINS CARDINAL’S GHANA GOLD PROJ

Maiden 4.76Moz reserve clears the way for Cardinal Resources’ 4Moz Namdini Gold Project IN GHANA. By Mark Mentiplay

LITHIUM PARTNERS KIDMAN AND SQM PRESSURE STATE OVER RULING ON MT HOLLAND TENEMENTS

Warden’s court ruling on historic tenement dispute could delay Australia’s most advanced proposed lithium mining and processing development, companies warn.

KEM JV PUSHES PETRA FROM PROFIT TO FY18 $203M LOSS

Petra Diamonds’ FY18 bottom line has been hammered by losses from its now ended KEM JV, strikes, Tanzanian export bans, impairments and FX losses, crashing to a $203M loss

RAMELIUS RESOURCES STRIKES AGAIN WITH $13M DEAL TO ACQUIRE THE MARDA GOLD PROJECT

West Australian miner Ramelius Resources continues the growth strategy linked to its existing mining hubs with a binding agreement to acquire the idle Marda gold mine, just under 200km from its flagship Edna May operation. John Feary reports

$1.48B OPEN PIT TO AUGMENT NEVADA COPPER’S US UNDERGROUND OPERATION

A cost-cutting $10.12B revenue-generating open pit operation has been flagged by a new study to augment Nevada Copper’s US Pumpkin Hollow underground operation. By MBM’s North American correspondent

ATALAYA DOUBLES H1 18 PROFIT TO €24.5M

An 11% jump in copper production, higher copper prices, ore processed and recoveries, not upset by higher costs, sees Atalaya double H1 18 net profit

NEW SALE/DEVEL DEALS EXPECTED ON BONANZA GOLD DISCOVERY

The price has just gone up on RNC Minerals’ previously predominantly nickel mine in Western Australia after deep drilling yields game changing bonanza grade gold. By Mark Mentiplay

STRUGGLING OROSUR DOES $34M EXPLORATION DEAL WITH NEWMONT

Troubled miner Orosur Mining has done a $34M exploration deal with Newmont Mining on one of its prime Colombian projects following plunging FY18 production and worse expected in FY19

RAMELIUS PUSHES GROWTH STRATEGY WITH $60M SCRIP BID FOR WA DEVELOPER EXPLAURUM

Ramelius Resources is focusing on the potential synergies of linking its flagship Edna May mine and the Tampia Hill gold project in its share-swap takeover bid for fellow West Australian company Explaurum.

TAHOE RESOURCES SEES HOPE FOR ESCOBAL MINE REVIVAL DESPITE NEGATIVE COURT RULING

Tahoe Resources can at last see a pathway to reopening its flagship Escobal mine in Guatemala despite a court ruling it must still go through an extended community consultation process.

SCOPING STUDY GREEN LIGHT FOR THOR’S US TUNGSTEN PROJ

A positive scoping study has outlined the 1st steps for an up to $35M capex project for Thor Mining that will be the 1st primary tungsten producer in the US

STATE-OWNED POLISH CO CONSIDERING BID FOR AUSSIE COAL DEVELOPER

Sources say Poland’s state-controlled JSW is considering a bid for Australian-based coal developer Prairie Mining and its Polish coal assets. No comment from either side.

GOLDEN MINS’ $97M, 5Moz pa SILVER PROJ FLAGGED FOR $80M CASH FLOW

New study sees start-up $97M Argentine silver project producing initial 29Moz over 6-year LoM for $45M NPV5

LYNAS CREDITS ‘INTENSE’ OPERATIONAL FOCUS FOR RARE EARTHS PROFIT TURNAROUND

Integrated rare earths miner-producer Lynas has posted a $53M turnaround to a maiden full-year profit on record sales and improved market penetration.

BHP GAINS A FOOTHOLD IN MAJOR ECUADOR COPPER PROJECT THROUGH SOLGOLD STAKE

Two years after being rebuffed, BHP succeeds with a new move to acquire a minority interest in SolGold and its world-class Ecuadorian copper-gold project at Cascabel.

ENDEAVOUR SELLS MALI GOLD PRODUCER FOR $60M

BCM Investments has stepped up again to buy another Endeavour Mining asset, the producing Tabakoto Gold Mine in Mali for $60M
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PENINSULA ENERGY: Q2 18 URANIUM PRODN DOWN

 

Perth, Jul 11

Uranium production from W Australian-based Peninsula Energy’s Lance Projects in Wyoming, US, has fallen 13% to 38,001lbs U3O8 in the June 2018 qtr (Q2 18) from Q1 18.
The decline was due to the May decision to suspend the majority of alkaline-based production activity within the 1st mining unit (MU1), with a drying run conducted for a total 43,553lbs U3O8 dried and drummed.
The company is maintaining its Q3 18 production of 22,500-27,500lbs U3O8 as it advances the planned transition to low pH operations at Lance that has the potential to align its operating performance/cost profile with the industry leading global uranium production projects. Full Q2 18 numbers expected shortly.

Peninsula Energy Limited

Exchange Code: 
ASX:PEN
Website: 
http://www.pel.net.au

Perth-based company focused on uranium with in-situ recovery operations in Wyoming, USA and development stage projects in South Africa

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