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West Australian miner Beacon Minerals remains on track for first commercial production on Oct 1 from its 100%-owned Jaurdi gold project after drawing first revenue from its first bullion sale – 257oz at $A2,190/oz.
Beacon says the 500,000tpa gold processing facility is running 20% above the PFS budget at Jaurdi, 35km NW of Coolgardie.
Persistence may be paying off for privately owned Australian miner QCoal Group, with compatriot Bounty Mining finally agreeing to hold discussions on the latest of a string of offers to fund a recapitalisation of the cash-strapped listed company.
Since Bounty reached a $A35M subscription plus upgraded coal offtake agreement last month with major shareholder Amaroo Blackdown Investments, its independent directors have repeatedly...
Australian-based Ironbark Zinc will have a new leadership team in place as it seeks to reinvigorate its flagship project, the proposed 200,000tpa Citronen zinc-lead development in Greenland.
New MD Michael Jardine has been appointed after an extensive executive search and replaces Jonathan Downes, who moves to non-executive director.
His appointment comes a day after Ironbark named Dr Fred Hess as chairman following the resignation...
The difficulties of mining in an exceptional wet season has forced Troy Resources to cut Dec half-year (H2FY2019) bottom range of guidance for its 100%-owned Karouni gold project in Guyana by 2,000oz to 24,000oz. Prior guidance was 26,000-28,000oz.
Troy says the heaviest rainfall since it acquired Karouni in 2013 delayed a planned Smarts 3 pit cutback beyond its end-June target. While conditions have since improved, Troy estimates Sept...
Australian-based international driller Swick Mining Services says it has financial flexibility to pursue further growth opportunities after receiving binding commitments for a $A15M placement to institutional and sophisticated investors.
The placement of 65.2M shares will be followed by a share purchase plan offer to existing shareholders to raise up to $2M. Both offers will be at 23cps, an 8% discount to its latest closing price.
MD Kent Swick...
The impact of processing lower-recovery shale ore has seen under-administration Gascoyne Resources’ gold production from its Dalgaranga mine fall again to 5,767oz in August, down from 6,012oz the previous month. Gascoyne says the shale ore appears to be having impact in Sept as well.
A small wall failure in the Gilbey’s starter pit has delayed access to the southern Gilbey’s Main lode from late Sept to mid-late Oct.
Gascoyne says completion of a...
A series of recent ore transportation problems has prompted Aus Tin Mining to cut and possibly suspend, operations at its recently recommenced, small-scale Granville East tin mine on the W coast of Tasmania, Australia.
An unspecified number of staff have been asked to take annual leave. CEO Peter Williams says that during the wind-down period, the company will undertake a strategic review of Granville.
He says that while the...
Peru, the world’s No-2 copper producer and 6th largest gold producer, expects its copper output to grow 27% and gold 12% in the next 3-years by 2022, the country’s energy/mines minister Francisco Ismodes says, Reuters reports.
Peru is on track to produce 2.5Mt Cu this year, up slightly from last year’s 2.44Mt, after surging 77% in the past 4-years.
Bardoc Gold is close to completing an up to $A15M raising to bring on the next stage of exploration/development for its flagship 2.6Moz Bardoc Gold Project near Kalgoorlie in Western Australia.
The company has received firm commitments for its 120M share/free option placement at $0.10cps, along with an SPP on the same terms for an additional $3M.
The upcoming development work includes high-impact drilling across multiple newly-...