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Aggressive drilling programme under way at Gascoyne’s Dalgaranga

By: Samantha Herbst     24th May 2016 Following the completion of a prefeasibility study of its 80%-owned Dalgaranga gold project earlier this year, which proved the project to be a robust development, ASX-listed gold hopeful Gascoyne Resources on Tuesday announced that an aggressive drilling programme was currently under way at... 

Azure raises A$15m for Mexico project

By: Mariaan Webb     23rd May 2016 ASX-listed Azure Minerals has secured A$15-million to advance exploration and development studies at the Alacrán silver and gold project, in Mexico. The company reported on Monday that it would issue 395-million shares at A$0.038 to institutional and sophisticated investors in two tranches. One... 

Despite delay, Denison and GoviEx asset merger to create new African uranium champion

By: Henry Lazenby     20th May 2016 A new Africa-focused uranium champion is in the making, with the planned combination of Canadian explorers Denison Mines and GoviEx Uranium’s assets on the continent which, once completed, was expected to comprise the largest undeveloped uranium resource base in the world. Despite the partners... 

Despite delay, Denison and GoviEx asset merger to create new African uranium champion

Canada wildfire moves into Saskatchewan, but little risk to mines, farms

By: Reuters     20th May 2016 A Canadian wildfire has moved from oil-rich Alberta province into Saskatchewan province, though that province's fertile farms and lucrative mines are tucked far away from the blaze's path. The fire in northern Alberta hit the town of Fort McMurray in early May, forcing widespread evacuations and... 

CanAlaska gains major endorsement as De Beers gets on board with C$20.4m option

By: Henry Lazenby     20th May 2016 Explorer CanAlaska Uranium has gained a multimillion-dollar endorsement from the world’s largest crystallised-carbon producer De Beers Group of Companies, after the partners entered into an option-participation agreement for expenditures of up to C$20.4-million on kimberlite-style targets staked... 

Alternative fundraising model seen flourishing but regulatory issues could stifle uptake in South Africa

By: Mia Breytenbach     20th May 2016 The mining industry is facing increasing risk averseness from equity and debt investors, owing to testing circumstances in the depressed global market, particularly with regard to falling commodity prices, slower economic growth in China and reduced mining production. Owing to traditional funding... 

Alternative fundraising model seen flourishing  but regulatory issues could stifle uptake in South Africa

Mustang receives $3m support from investors to advance Moz ruby project

By: Ilan Solomons     20th May 2016 ASX-listed junior miner Mustang Resources has received formal commitments to raise about $3-million in a placement to professional and sophisticated investors through the issue of about 75.5-million new shares. Mustang MD Christiaan Jordaan says the funds raised pursuant to the placement will... 

Mustang receives $3m support from investors to advance Moz ruby project
CASH BOOST The funds raised will principally be used for general working capital and for other outstanding payables to further develop the Montepuez ruby project

Ivanhoe starts 25 000 m drill campaign to test new discovery at Kamoa

By: Henry Lazenby     19th May 2016 Project developer Ivanhoe Mines has deployed up to nine drills to undertake a 25 000 m drilling campaign on the Kakula discovery on the Kamoa copper mining licence area, in the Democratic Republic of Congo – a project billed as the largest undeveloped high-grade copper deposit in the world. The... 

Ivanhoe slams NGO misinformation on flagship Platreef PGM project

By: Henry Lazenby     19th May 2016 Africa-focused project developer Ivanhoe Mines on Thursday condemned “in the strongest terms possible” a statement issued late Wednesday by nongovernmental organisation (NGO) Mining Watch Canada, alleging that its subsidiary Ivanplats was engaged in human rights abuses and illegal operations as... 

Australia’s GB Energy to acquire lithium project in Namibia

By: Samantha Herbst     19th May 2016 In line with its strategy of targeting minerals critical for the future of the energy environment, ASX-listed GB Energy has entered into an option agreement with an unnamed South African company which, if exercised, provides the GB Energy with the right to acquire a 70% stake in Namibia’s... 

Lithium X options half of key Nevada prospect to North South Petroleum

By: Henry Lazenby     19th May 2016 Lithium development company Lithium X Energy has agreed to option half of its Clayton Valley South Expansion lithium (CVL) property, which comprised 471 federal placer mining claims, totalling about 3 861 ha, and was located about 50 km south-west of Tonopah, Nevada, to fellow TSX-V-listed North... 

Santacruz completes technical study on Veta Grande prospect

By: Henry Lazenby     18th May 2016 Santacruz Silver Mining has completed an independent technical report on the Veta Grande project, in Zacatecas state, Mexico, marking a first step in the TSX-V-listed company's planned systematic review of its mineral prospects located in the region and forming a basis for further exploration and... 

Brazil Resources files new resource estimate for Whistler, Alaska

By: Henry Lazenby     18th May 2016 TSX-V-listed miner Brazil Resources this week filed a new resource estimate for its Raintree West deposit, one of several porphyry centres identified on the 100%-owned Whistler project, in Alaska. Vancouver-based Brazil Resources billed the Whistler project as having district scale, comprising... 

American Lithium acquires private BC firm with 80% option on Nevada prospect

By: Henry Lazenby     18th May 2016 Canadian explorer American Lithium has closed the acquisition of private British Columbia firm 1065604 BC, which held the option to earn an undivided 80% interest in the Atlantis lithium property located in Fish Lake Valley, Esmeralda County, Nevada. Nevada was ground zero for a land rush to cash... 

Queensland petroleum exploration activity in decline

By: Creamer Media Reporter      18th May 2016 Queensland has suffered a severe decline in petroleum exploration over the past five years, with the state leading a national decline in both onshore and offshore exploration activity, the Australian Petroleum Production and Exploration Association (Appea) reported on Wednesday. Appea director... 

Mining companies urged to consider price forecasting with greater care

By: Simon Rees     18th May 2016 While predicting future metals prices is a vital tool for assessing the viability of a deposit, a project’s economics or the potential income an operation could expect to generate, the prognostications often prove wrong. “Studies of past forecasts show that the success rate for commodity price... 

Miners adapting to more austere fundamental backdrop – report

By: Henry Lazenby     17th May 2016 Mining companies, in general, are adapting to a more austere fundamental backdrop, despite a recent announcement in Chinese media that the country would be removing stimulus and reprioritising reforms, which caused significant apprehension during Bank of America Merrill Lynch’s (BofAML’s) recent... 

Miners adapting to more austere fundamental backdrop – report

Volt's Tanzanian project could be economical

By: Esmarie Swanepoel     17th May 2016 An initial prefeasibility study (PFS) into the development of the Namangale graphite project, in Tanzania, has proven positive for Volt Resources, the company said on Tuesday. The Stage 1 PFS considered various production scenarios ranging from 60 000 t/y to 240 000 t/y of graphite concentrate,... 

Monax makes a break for lithium

By: Esmarie Swanepoel     17th May 2016 Junior explorer Monax Mining has signed a binding term sheet to acquire a prospective lithium project in Queensland. The company told shareholders on Tuesday that it would earn an 80% interest on an exploration permit by spending A$500 000 over an 18-month period. 

Azure buys gold-silver project in Mexico

By: Esmarie Swanepoel     17th May 2016 Explorer Azure Minerals has acquired the San Agustin gold-silver project, in Mexico, and would start exploration at the project later this year. “It’s very exciting that we were approached and offered this exciting new prospect. While our focus is clearly in advancing our Alacran silver and gold... 

Eldorado announces $600m exit from China by selling remaining assets

By: Henry Lazenby     16th May 2016 Having sold its 82% interest in the Jinfeng mine to China National Gold Group for $300-million in cash late last month, Eldorado Gold on Monday announced the sale of its remaining two mines and one development project for $600-million, signalling the Canadian miner’s exit from China.... 

Eldorado announces $600m exit from China by selling remaining assets

Secova expands Duvay land package by two-thirds

By: Henry Lazenby     13th May 2016 TSX-V-listed junior gold explorer Secova Metals has signed an agreement with TSX-listed Globex Mining Enterprises to acquire a full interest in 69 claims of property know as ‘The Chenier Claims’, which are located next to the company's Duvay property holdings. Vancouver-based Secova advised... 

Capital Mining steps onto lithium exploration field

By: Esmarie Swanepoel     13th May 2016 Junior explorer Capital Mining has signed a sales and purchase agreement to acquire Shaw River Lithium and its 13 prospecting licences in the Pilbara. Capital Mining reported on Friday that the company would issue 30-million of its own shares, worth 0.5c each, on the completion of the... 

Kingston raises cash for lithium play

By: Esmarie Swanepoel     13th May 2016 ASX-listed copper explorer Kingston Resources has entered the lithium space, announcing on Friday that it would acquire a major portfolio of lithium-prospective tenements in Western Australia and the Northern Territory. In exchange for A$500 000 in cash and the issue of 165-million shares,... 

Aukum exclusive prospecting licence conditionally renewed

     13th May 2016 Graphite exploration and development stage company Next Graphite has received the conditional renewal of its exclusive prospecting licence for its Aukam property, in southern Namibia.  

Confidence in Namib project builds despite drill rig issues

     13th May 2016 Aim-quoted mineral resource exploration and development company North River Resources notes that reliability issues with drill rigs at its Namib project, in Namibia, have put pressure on the scheduled completion of the project’s drilling campaign by end June.  

Confidence in Namib project builds despite drill rig issues
DRILLING DEVELOPMENTS The contracted Diamec rig at the Namib project continues to be used for longer drill holes, while the company’s Kempe drill continues with shallower infill and extension targets

Lithium X strikes pilot-production JV accord for flagship Argentina asset

By: Henry Lazenby     12th May 2016 Junior explorer Lithium X has announced Thursday that its 50%-owned subsidiary Potasio y Litio de Argentina (PLASA), which owns 100% of the Sal de los Angeles lithium/potash brine project, in Argentina, has entered into a definitive joint-venture (JV) agreement with a consortium of experienced... 

Goldcorp and Kaminak to tie C$520m knot

By: Henry Lazenby     12th May 2016 Canadian gold major Goldcorp has agreed to buy Kaminak Gold for about C$520-million, a deal that would see the major acquiring Kaminak’s promising 100%-owned Coffee gold project, a structurally hosted hydrothermal gold deposit located about 130 km south of the City of Dawson, in Canada’s Yukon... 

Goldcorp and Kaminak to tie C$520m knot
Photo by Kaminak Gold
Coffee, Yukon

Coventry raises for Alaskan exploration

By: Esmarie Swanepoel     12th May 2016 ASX-listed junior Coventry Resources has raised A$2.7-million through a share placement to advance its exploration and development work at the Caribou Dome copper project, in Alaska. The company on Thursday revealed that it would issue 129-million shares, at a price of 2.1c each, to raise the... 

Sovereign Gold expands its strategy to include lithium

By: Esmarie Swanepoel     12th May 2016 Gold explorer Sovereign Gold on Thursday unveiled plans to expand its gold footprint and to acquire lithium assets, following a strategic review. The company told shareholders that the board had been assessing domestic and international gold and lithium opportunities with a focus of acquiring... 

Klondex lifts 2016 exploration budget despite Q1 loss

By: Henry Lazenby     11th May 2016 Junior gold and silver miner Klondex Mines has swung to a first-quarter loss of $1.1-million, or $0.01 a share, as slightly fewer ounces sold and lower prices, as well as several special items, weighed on the company's bottom line. The TSX- and NYSE MKT-listed company reported revenue of... 

Apollo to raise cash and shake up board

By: Esmarie Swanepoel     11th May 2016 Metals explorer Apollo Minerals is hoping to raise A$4.4-million to fund its search for new projects. The ASX-listed junior said on Wednesday that it would seek shareholder approval for a one-for-four share consolidation, thereby reducing its current number of shares on issue to 1.5-million. 

Lithium Australia to divest of graphite assets

By: Esmarie Swanepoel     10th May 2016 ASX-listed Lithium Australia would divest of its five Western Australian graphite projects in order to focus on its lithium assets. The junior company on Tuesday told shareholders that since 2014, the company has been working to acquire a pool of assets covering both lithium and graphite after... 

Oklo raises cash for Mali exploration

By: Esmarie Swanepoel     9th May 2016 Gold explorer Oklo Resources would raise A$10-million through a share placement to sophisticated and institutional investors, to accelerate exploration at its gold projects in Mali. The ASX-listed junior told shareholders that the share placement, which was priced at 12.5c each, would be... 

Latin American Minerals overcoming hurdles to get back on track

By: Simon Rees     6th May 2016 Despite strong economic headwinds, several junior and midtier miners were able to advance projects towards near-production or into operation during the downcycle’s trough; however, plenty of others were less fortunate and had to retrench, mothball or even capitulate. Other projects and operations... 

Developer boosts focus on mine planning software

By: Sebastian Whyle     6th May 2016 Continuing exploration challenges in South Africa have led leading provider of innovative software solutions, MICROMINE, to enhance and continue its focus on exploration and three-dimensional (3D) mine planning, which, subsequently, has assisted in boosting the uptake of mining and scheduling... 

Developer boosts focus on mine planning software
PIECE OF MIND The Micromine solution’s data-validation features enable users to ensure that a job has been completed correctly

Feasibility study starts on phosphate JV

By: Mia Breytenbach     6th May 2016 ASX-listed exploration and development company Minbos Resources last month started work with joint venture (JV) partner Petril on the bankable feasibility study (BFS) work programmes for the high-margin, high-grade phosphate Cabinda project, in Angola. The 391.3-million-ton project, with an... 

Feasibility study starts on phosphate JV
Photo by Bloomberg
HIGH PROSPECT The high-margin, high-grade phosphate Cabinda project, in Angola is an estimated 391.3-million-ton project, with an estimated ten-year mine life

Gold explorer seeks A$5m a year to advance Burkina Faso, Côte d'Ivoire projects

By: Ilan Solomons     6th May 2016 Mineral exploration company Predictive Discovery (PD) is seeking partners that can assist in funding and developing its gold exploration projects in Burkina Faso and Côte d'Ivoire. The company aims to raise sufficient funds – about A$5-million a year – to undertake exploration and development... 

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