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Articles by CI Resources
IGO to explore Metals X copper project
IGO can spend $36 million in 6.5 years to explore the Paterson Exploration Project. facebook twitter linkedin print Metals X has signed a $32 million farm-in and joint venture agreement with IGO, which will explore the company’s copper operations in the Paterson Province, while also announcing the potential restart of its Nifty operations. To read more, please Login below or Subscribe. Login (existing subscribers) Username/Email * Password * The password field is case sensitive.
Dacian cuts resources by 40%
Dacian has conducted a detailed review of its underground mining operations. Photo: Dacian Gold facebook twitter linkedin print Struggling miner Dacian Gold has slashed the mineral resource estimate for its Mt Morgans operation in Western Australia and reduced expected production over the next three years. To read more, please Login below or Subscribe. For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Medusa reports mine site fatalities
The two employees were killed during a rockfall at the underground Co-O gold mine. facebook twitter linkedin print Perth-based Medusa Mining has reported an accident at its Co-O gold mine in the Philippines, resulting in the death of two of its employees. To read more, please Login below or Subscribe. For first time subscribers, our monthly payment starts at $1 + GST for the first month. Login (existing subscribers) Username/Email * Password * The password field is case sensitive.
Dacian Gold names new CEO
Leigh Junk was named a 40under40 winner in 2007. facebook twitter linkedin print Dacian Gold founder Rohan Williams is stepping down from his role as chief executive and executive chairman, to be replaced by 25-year mining veteran Leigh Junk and non-executive director Ian Cochrane. To read more, please Login below or Subscribe. For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Junk new CEO for Dacian Gold
Leigh Junk was named a 40under40 winner in 2007. facebook twitter linkedin print Dacian Gold founder Rohan Williams is stepping down from his role as chief executive and executive chairman, to be replaced by 25-year mining veteran Leigh Junk and non-executive director Ian Cochrane. To read more, please Login below or Subscribe. For first time subscribers, our monthly payment starts at $1 + GST for the first month.
$163m Nifty copper plan for Metals X
Metals X is planning to spend $163 million to sharpen up the performance of the Nifty copper mine, nearly three years after it bought the Pilbara operation from Indian business Aditya Birla Minerals.
Doray shareholders overwhelmingly support merger
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Metals X increases production by 11pc
Metals X has announced encouraging production results at its Nifty copper mine in the Pilbara, which it had to suspend operations at in 2017.
New CEO for Metals X
Poorly performing copper miner Metals X has appointed Damien Marantelli as its new managing director, with incumbent Warren Hallam and chief operating officer Allan King leaving the company. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Rand forced to sell $60m Tribune stake
The Takeovers Panel has ordered the sale of a $60.1 million stake in gold miner Tribune Resources, along with updated disclosure from some of the company’s major shareholders. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Doray in $10m Andy Well sale
Gold miner Doray Minerals has announced the sale of its mothballed Andy Well project near Meekatharra to Canadian company Galane Gold in a deal worth $10 million. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Fire stops work at WA gold mine
Operations at Doray Minerals’ Deflector gold-copper mine in the Murchison region have been halted after a fire broke out at the site early this morning. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Silver Lake hits gold target
Gold miner Silver Lake Resources has posted above-guidance sales for the year to June, while Red 5 says it is on track to meet its production forecast for the 2018 calendar year. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Gold miners post strong output forecasts
Gold producer Doray Minerals has announced an increased production guidance for the 2019 financial year, while Northern Star Resources has hit its gold production rate target for 2018.
Christmas Island mining program rejected
The federal government has rejected a mining exploration program by Perth-based CI Resources on Christmas Island that would have extended the company’s existing phosphate operations by up to 10 years. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Doray in $25m raising
Gold miner Doray Minerals has raised $25 million to reduce debt and increase exploration at its Deflector project, which is located 160 kilometres east of Geraldton.
GBF secures underground contract
GBF Underground Mining Company has been awarded a three-year contract to construct an underground mine at Millenium Minerals’ Nullagine gold project in Western Australia. To read more, please Login or Register below
Doray ponders Westgold JV
Gold miner Doray Minerals is considering a joint venture arrangement with Metals X spin-out Westgold Resources over its Gnaweeda project. Perth-based Doray said today it had entered into a memorandum of understanding with Westgold to assess and evaluate commercialisation plans for Gnaweeda, with the agreement to expire by the end of next month. At that point, the two companies will have to evaluate their options moving forward. To read more, please Login or Register below
Western Areas back in the black
Nickel miner Western Areas has returned to profitability and delivered a dividend payout, with plans to increase its exploration spending in the year ahead. Western delivered a net profit of $19.3 million for the 12 months to June, a turnaround result from its $29.8 million loss in FY16. Revenue was 2 per cent higher to 213.9 million, with the company declaring a final dividend of 2 cents a share. To read more, please Login or Register below
Western Areas to sell $27m stake in Bluejay
Nickel miner Western Areas has announced plans to sell its stake in an ilmenite-copper-nickel explorer which is dual-listed on the AIM and FSE markets for up to $27.5 million. Western plans to sell its 138.6 million shares in Bluejay Mining, equal to a 18.8 per cent stake, as the Greenland and Finland-focused exploration company undertakes a £3.5 million capital raising. The Perth-based nickel miner said it expects to reap between $26.5 million and $27.5 million from the sale.
Metalicity refloats Admiral Bay plan
West Perth-based junior Metalicity is developing a plan to take the Admiral Bay zinc deposit in the Canning Basin to production, two years after the project was bought from the collapsed Kagara Mining. It represents a significant investment for Metalicity, with Kagara previously estimating that it would cost more than $1 billion to get into production.
Western Areas' mill expansion plans back on
Western Areas has reignited plans to upgrade its Cosmic Boy concentrator in the light of interest in nickel in the electric vehicle battery market, with GR Engineering Services to carry out the work. Western said today it would spend $17.5 million on its mill recovery enhancement project, which had been both announced and shelved in 2015. Since that time, Western has invested $6.5 million in long lead items to allow for a quick recommencement of activities when a decision was to be made.
Paladin, Avira deal falls over at final hurdle
Paladin Energy’s planned $US10 million sale of a 30 per cent stake in the Manyingee uranium project to Avira Energy has been thwarted with the latter company unable to secure financing in time. The Manyingee deal was subject to a termination date of March 31, prior to which Avira would need to clear all hoops for the transaction. The Sydney-based company secured Foreign Investment Review Board approval but failed to complete a capital raising by that deadline.
Tiger flags cash flow issues
Africa-focused Tiger Resources is in talks with its shareholders and lenders concerning its depleting cash balance, as repairs to infrastructure at its Kipoi copper project will hinder production for the month. Tiger told the market today that the tank leach circuit at Kipoi had been shut down to repair failures in two pump mixers. The repairs are expected to be completed within 7 days; however, as a result of the complications Tiger’s March production will be short by about 100 tonnes of copper.
Nickel aids Western Areas
Nickel miner Western Areas has eked out a net after tax profit of just $516,000 in the six months to December, as a higher nickel price helped improve margins. It was an improved performance on the same period in the previous financial year, however, when Western delivered a 20 million after tax loss driven in part by impairments.
Tiger recruits new CEO
Africa-focused Tiger Resources has named Agrimin chairman Brad Sampson as its new chief executive, replacing Michael Griffiths who spent four years in the role. Mr Sampson has a career of international experience as a mining engineer in open cut and underground operations in Southern Africa, Australia and Papua New Guinea. He has served in management roles at Gold Fields and Emperor Mines, and previously held an executive role at Thiess. To read more, please Login or Register below
Nickel sales up for Western Areas
Local miner Western Areas closed flat on the ASX despite posting an increase in cash on hand and nickel sales in the three months to December. Western mined 6,867 tonnes of nickel in the December quarter, up from 6,357t in the previous quarter, and sold 6,249t at a realised price of $7 per pound. Its cash costs of production for the quarter came in lower compared to the previous quarter, at $2.35 per pound. To read more, please Login or Register below
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