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Company - Kimberley Metals Group
Perth-based unlisted company holding the Ridges and Matsu iron ore projects in Western Australia.
Aug 2018: Delisted from ASX
Royalty-streamer Franco-Nevada’s Dec 2018 year FY/CY18 net profit has slipped to $US139M from 2017’s record $194.7M on gold equivalent sales down to 447,902oz from an all-time best 497,745oz AuEq.
The result was on revenue down to $653.2M from $675M, but with the total costs of sales also down to $365.9M from $415M for a gross profit up to $287.3M from $260M, adjusted net income up to $217M from $198.3M and adjusted EBITDA to $519.6M from $516.1M.
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An upgraded ore reserve has extended the forecast life of Australian producer TerraCom’s Blair Athol thermal coal mine by more than three years to eight years – with more potential life extensions on the way from geotechnical investigations.
Blair Athol’s JORC-compliant proved and probable marketable coal reserve is now 23.5Mt, after mining depletion of 2.3Mt.
The Bowen Basin, Qld opencut mine currently produces 3Mtpa.
TerraCom says its...
West Australian nickel hopeful Poseidon has begun initial refurbishment of the decommissioned decline at the Silver Swan mine 50km NE of Kalgoorlie to support an eventual revival of the mine in the event of a global market recovery.
As well as improving ground support and ventilation infrastructure, Poseidon says the refurbishment will enable diamond drilling to explore the ore deposit at depth below the historic Black Swan openpit.
Poseidon’s...
Canadian junior Luminex has attracted its third world-class venture partner, agreeing terms with BHP for an earn-in and JV on its Tarqui copper, gold and silver mining concessions in Ecuador.
The JV, to be finalised within 3 months, will see BHP pay $US7M cash and spend $75M to earn up to 70% interest in the Tarqui 1 & 2 projects in Morona Santiago province.
Luminex also has exploration JV...
Company - Luminex Resources Corp
Vancouver-based explorer/developer focused on gold and copper projects in Ecuador
West African miner Endeavour expects to declare commercial production early in the June qtr after reaching the first gold pour 4 months ahead of schedule and under budget at its Ity carbon in leach project in Côte d’Ivoire.
A rapid ramp-up has the plant running at 4Mtpa nameplate capacity, with a $US10-15M de-bottlenecking and optimisation program underway to increase it to 5Mtpa.
Ity is expected to produce 160,000-200,000oz in...
Despite record copper production up 3% to 725,300t and expecting another record in 2019, Chilean mining major Antofagasta’s Dec 2018 year (FY/CY18) after tax profit has fallen to $US880.3M from 2017’s $1.2B profit.
EBITDA plunged 14% to $2.2B on revenue flat at $4.73B from $4.75B, cutting operating cash flow 25% to $1.9B.
| ANTOFAGASTA FY18 PROFIT PLUNGE, DESPITE... |
Despite record copper production up 3% to 725,300t and expecting another record in 2019, Chilean mining major Antofagasta’s Dec 2018 year (FY/CY18) after tax profit has fallen to $US880.3M from 2017’s $1.2B profit.
EBITDA plunged 14% to $2.2B on revenue flat at $4.73B from $4.75B after increased unit costs due to grade declines, higher input costs and a 6.3% decrease in the realised copper price, cutting operating cash flow 25% to $1.9B. Group cash...
Reviewing decade-old drilling data alongside modern due diligence work have enabled developer Aguia to deliver a maiden inferred resource of 10.8Mt @ 0.56% for 132.5Mb copper and 2.56g/t for 891,000oz silver at its recently acquired Andrade deposit in Rio Grande do Sul, Brazil.
The JORC and CIM-compliant resource includes 10.1Mt suitable for openpit and 675,000t for underground mining.
Technical director Dr...