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The $A15M IPO for new nickel-cobalt explorer Galileo Mining, founded by renowned Western Australia-based prospector Mark Creasy, has closed with the company to list on the ASX May 29, 2018.
Galileo, in which Creasy holds 31%, has 2 kick-off projects -- the Norseman cobalt-nickel project, 190km S of Kalgoorlie, WA, with a JORC indicated/inferred resource containing over 22,000t cobalt and 106,000t nickel, and the Fraser Range ...
Egypt gold miner Centamin has cut FY/CY18 production from its Sukari mine to between 505,000oz-515,000oz at cash costs up to $US625oz-$640oz produced and AISC to $875oz-$890oz from the previous 580,000oz at cash costs $555oz and AISC $770oz.
The fall is a result of persisting low grades from the transitional zone in the open pit, combined with lower development grade from underground resulting in lower production ore tonnage mined. While the updated...
Australian miner Aurelia has raised its June half-year production guidance by 50% at the Peak mine in central NSW after just one month of operation since completing its acquisition.
Peak delivered 19,116oz gold in April, compared to its full March qtr production of 25,433oz.
Aurelia is now forecasting total production of 55,000-65,000oz for the 6 months to end-June, up from its previous target of 35,000-45,000oz.
The acquisition of the Peak gold mine in central New South Wales is delivering faster than expected rewards for Australian miner Aurelia Metals, which has lifted production guidance by 50% after just one month of operations.
Aurelia completed the acquisition of the Peak mine from departing Canadian miner New Gold in April for a base price of $US58M plus net cash and working capital adjustments estimated at $13M.
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South Africa and Tanzania diamond miner Petra Diamonds is raising $US178M via a fully underwritten 5 for 8 rights issue to cut its $600M+ debt load and increase financial flexibility.
The company, which has 4 underground mines in South African and 1 in Tanzania, will use the cash to overcome the costs of a number of operational delays, primarily the FY17 delay in bringing the new plant at its flagship Cullinan mine on stream, impact this had on the ramp...
With the performance failure of the BIOX® process circuit at gold miner Metals Exploration’s flagship Runruno gold-molybdenum project in the Philippines hopefully behind it, the company has managed to cut Dec 2017 year (FY/CY17) after tax losses to £13.4M from 2016’s £18.03M loss.
However, items that may be subsequently re-classified to profit or loss, including exchange losses of £11.37M from a positive £17.56M, could potentially blow...
With the performance failure of the BIOX® process circuit at gold miner Metals Exploration’s flagship Runruno gold-molybdenum project in the Philippines hopefully behind it, the company has managed to cut Dec 2017 year (FY/CY17) after tax losses to £13.4M from 2016’s £18.03M loss.
However, items that may be subsequently re-classified to profit or loss, including exchange losses of £11.37M from a positive £17.56M, could potentially blow...
The transfer of control of Australian coal explorer East Energy to Hong Kong-based Noble Resources has begun, with Noble nominee Chris Thoroughgood joining the board as a non-executive director.
At the same time, former Noble executive Rex Littlewood steps up as MD-chairman following the immediate resignation of founding director Mark Basso-Brusa.
The changes come although Noble has yet to convert its $A7.5M debt facility into...
New owner Copper Mountain is preparing major exploration at the Cloncurry copper project in NW Qld after completing its $A93M takeover of Australian developer Altona Mining.
Copper Mountain has approved a $5M program to follow up Altona's shallow reconnaissance drilling in 2017 targeting a NI 43-101/JORC mineral resource, test new targets and support FS work on the proposed Eva copper mine.
It's well prepared for...