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Australian-based Titan Minerals is back with plans for a new bid to acquire its fellow South American-focused miner Core Gold, two months after a Canadian court blocked its previous attempt because it was not demonstrated to be fair and reasonable to shareholders.
Titan says it will offer 2.5 of its shares for each share in the Canadian company, equivalent to $C0.422 per Core Gold share and a 164% premium to its latest closing price....
START THE WEEK: WHAT YOU NEED TO KNOW
The World Gold Council has responded to the growing pressure from powerful investment groups for greater transparency in the mining sector with the launch of a new framework it aims to establish coherent standards for responsible gold mining.
The Responsible Gold Mining Principles set out clear expectations for consumers, investors and the downstream gold supply chain for responsible gold mining.
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Canadian-based explorer Aethon Minerals has attracted global miner Rio Tinto to manage and fund up to $US25M of exploration for a 75% stake in its 100%-owned Arcas copper-gold project in the Atacama Desert 245km NE of Antofagasta, Chile.
The earn-in and JV agreement contemplates the first significant exploration program on the Arcas project since it was drilled by a Teck subsidiary in 2010.
Aethon...
Company - Aethon Minerals Corp
Toronto-based company holding over 100,000ha exploration positions in the Maricunga and Antofagasta regions of N Chile. Altius Minerals is a significant shareholder.
Latin America-focused Fortuna Silver Mines has begun pre-production mining at its 100%-owned Lindero gold project in Argentina’s Salta province, aiming to build reserve stockpiles ready for stacking on the leach pad.
President-CEO Jorge A Ganoza says its high grades, no pre-strip and low first year strip ratio has Fortuna expecting Lindero to produce 145,000-160,000oz gold in its first full year of operation.
First ore to the leach...
Company - Çiftay İnsaat Tahhüt ve Ticaret AS
Ankara-based mining and mine construction contractor responsible for over 50% of Turkey’s iron ore production also active in construction, energy and tourism
Chaarat Gold Holdings has recruited Turkish mining and construction contractor Çiftay İnsaat Tahhüt ve Ticaret as its partner in its Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic.
Çiftay has agreed to pay $US31.5M cash in progressive investments for a 12.5% stake in the 2 project.
Chaarat says Çiftay’s investment combined with a preliminary senior project finance termsheet will be sufficient to fund...
Australian base metals miner Red River is facing a 30% plunge in Sept qtr (Q1FY20) production at its Thalanga zinc-lead-copper project in N Qld while repairing its secondary crusher after it was shut down on Sept 12.
The repairs involve removing and disassembling the crusher, fabricating and machining replacement components, reassembling and reinstating the unit. It expects to restore full process plant production from the start of Oct...
TNG is chasing new potential offtake customers for the planned 500,000tpa high grade (64% Fe) iron ore production from its flagship 100%-owned Mount Peake project in Australia’s NT after terminating a binding term sheet agreed in March 2016 with Singapore-based commodities trader Gunvor.
The deal was to cover at least 60% of Mount Peake’s iron ore, separately from its vanadium and titanium output, but TNG says some...
Brazilian mining giant Vale has reaffirmed its 307-332M tons FY2019 iron ore and pellet sales guidance despite a National Mining Agency order to suspend work on one mining front at its 30Mtpa Brucutu mine in Minas Gerais state.
Vale says the order relates to ANM's belief it had exceeded its approved reserve limit in the affected area, despite the company’s insistence it fulfilled all the agency’s requirements. The company will take...