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Gold News

New Talisman forced to withdraw scoping study

By: Esmarie Swanepoel     28th June 2018 The share price of ASX-listed junior New Talisman Gold fell by nearly 12% on Thursday after the company was forced to retract a scoping study on its Talisman Deeps project, in New Zealand. The scoping study contained production targets and estimates of required investments and returns,... 

Kirkland Lake pursues arbitration over Centerra’s royalty portfolio sale

By: Mariaan Webb     27th June 2018 Canadian gold miner Centerra Gold has completed the sale of its royalty portfolio to a subsidiary of Triple Flag Mining Finance Bermuda for $155-million in cash. The agreement comprised the sale of Centerra subsidiary AuRico Metals and 100% of the shares in its indirect wholly-owned subsidiary... 

Vast Resources raises £1.25m in share placement

By: Marleny Arnoldi     27th June 2018 Aim-listed diversified miner Vast Resources has raised in aggregate £1.25-million through the placing of 238-million shares at a price of 0.5p apiece.  

Polymetal to recruit new chair

By: Anine Kilian     27th June 2018 LSE-listed Polymetal International will start a recruitment process to appoint a successor to chairperson Bobby Godsell as part of its board succession programme. MLS De Sousa-Oliveira will replace Godsell as chair of the nominations committee of the board to lead the process. 

New mines accelerated at Barrick’s South Arturo 

By: Mariaan Webb     27th June 2018 Development work and construction of the Phase 1 openpit and the El Nino underground mine at Barrick Gold’s South Arturo operation, in Nevada, have been accelerated, setting the stage for some production from both operations later in 2018, the major’s joint venture (JV) partner, Premier Gold... 

New mines accelerated at Barrick’s South Arturo

WGC report a first step in understanding gold’s GHG footprint

By: Anine Kilian     27th June 2018 While there is limited published data on gold’s global carbon footprint, research by the World Gold Council (WGC) has determined that total greenhouse-gas (GHG) emissions from newly-mined gold are significantly lower than those of other major metals and mined products. “Gold is also valuable and,... 

Gold seen fighting back as dollar rebound is poised to reverse

By: Bloomberg     27th June 2018 Much maligned gold is set to stage a comeback as the dollar weakens, according to Pictet Wealth Management. Bullion will climb to $1 320 an ounce by the end of the year, said currency strategist Luc Luyet, which compares with about $1 256 on Wednesday. While trade tensions haven’t yet provided... 

Hot Maden project moves into next stage of development

By: Mariaan Webb     27th June 2018 The Hot Maden gold and copper project in Turkey will advance to the feasibility study level, after a prefeasibility study (PFS) has confirmed the viability of mining a total of 2.6-million ounces of gold equivalent over 11 years. The Hot Maden project, which was discovered only three years ago,... 

Teal beats expectations

By: Esmarie Swanepoel     27th June 2018 The Teal gold mine, in Western Australia, has delivered above expectations, with ASX-listed Intermin Resources on Tuesday saying that both gold production and revenue exceeded the feasibility study estimates. Mining was completed at Teal earlier this year, and the last ore was processed through... 

AngloGold gets environmental go-ahead for Obuasi redevelopment

By: Marleny Arnoldi     27th June 2018 Gold miner AngloGold Ashanti has received environmental permits for its Obuasi gold mine, in Ghana, paving the way for the redevelopment of the large and high-grade orebody.  

AngloGold gets environmental go-ahead for Obuasi redevelopment
Photo by Creamer Media
AngloGold CEO Srinivasan Venkatakrishnan

Yamana’s Cerro Moro reaches commercial milestone

By: Mariaan Webb     26th June 2018 Canadian precious metals miner Yamana Gold has declared commercial production at its Cerro Moro gold and silver mine in Santa Cruz, Argentina. The mine poured its first gold and silver doré in May and subsequently ramped up to commercial production.  

Nevsun announces inferred resource for Timok Lower Zone

By: Creamer Media Reporter      26th June 2018 The Timok (Cukaru Peki) Lower Zone deposit contains 31.5-billion pounds of copper and 9.6-million ounces of gold, TSX-listed Nevsun Resources said on Tuesday, announcing an initial resource estimate for the project in Serbia. The Timok Lower Zone – a joint venture with Freeport-McMoRan – has a... 

Trans-Siberian’s Asacha licence extended to 2024

By: Creamer Media Reporter      26th June 2018 The Russian State Suboil Agency (Rosendra) has approved the extension of Aim-listed Trans-Siberian Gold’s mining licence at the Asacha gold mine for a further six years, the mining company announced on Tuesday. The extended licence will expire on December 31, 2024. 

Polymetal delivers Kyzyl ahead of schedule, below budget

By: Mariaan Webb     26th June 2018 The new Kyzyl mine in Kazakhstan has exited the commissioning phase and has successfully produced its first gold concentrate, LSE-listed Polymetal announced on Tuesday. The start-up of the concentrator, which is now entering a three-month ramp-up period, was achieved one quarter ahead of the... 

Polymetal delivers Kyzyl ahead of schedule, below budget
Polymetal's Kyzyl mine.

Newcrest loses more of Gosowong

By: Esmarie Swanepoel     26th June 2018 Gold miner Newcrest Mining will need to divest of at least another 26% interest in its Gosowong gold mine, in Indonesia, in order to meet the criteria of a new Contract of Work (CoW). The miner said on Tuesday that it had entered into an amended agreement with the government of Indonesia to... 

Talisman doubles in value

By: Esmarie Swanepoel     26th June 2018 The value of the Talisman gold project, in New Zealand, has more than doubled with an increased resource, mine life and grades. ASX-listed New Talisman Gold Mines reported that an updated prefeasibility study (PFS) had increased the project’s pre-tax net present value to NZ$36-million, compared... 

Gold ETFs headed for weakest month since July 2017, despite trade war jitters

By: Reuters     26th June 2018 Gold-backed exchange-traded funds (ETF) tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes. Gold, typically seen as a safe store of value during times of geopolitical and... 

Employee killed in incident at Sibanye's Khomanani mine

By: Creamer Media Reporter      26th June 2018 An employee has been killed in an accident at JSE- and NYSE-listed Sibanye-Stillwater's Khomanani mine, at the Driefontein operation. "For reasons still to be determined, he entered a scraper path and was caught by the scraper. 

Chaarat appoints Volynets CEO, moves Benbow to COO

By: Creamer Media Reporter      25th June 2018 Aim-quoted Chaarat has appointed merger and acquisition (M&A) strategist Artem Volynets as CEO with immediate effect, replacing Robert Benbow who is moving to the role of COO. Volynets, who joined the board of Chaarat in March, has two decades of experience in M&A, capital markets, and senior... 

Orion accelerating on all fronts, looking to upscale production

By: Martin Creamer     25th June 2018 ASX- and JSE-listed Orion Minerals has raised an additional A$11-million through a share placement so that it can accelerate on all fronts. This equity capital raising funds the company beyond the bankable feasibility study (BFS) to progress its Prieska zinc/copper project, in South Africa's... 

Orion accelerating on all fronts, looking to upscale production
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Galantas reaches main gold vein at Omagh

By: Creamer Media Reporter      25th June 2018 Underground development at the Omagh gold mine, in Northern Ireland, has reached the main Kearney gold vein, TSX-V- and Aim-listed Galantas Gold reported on Monday. The vein intersection is about some 15 m below the base of the Kearney openpit. 

Xtract reviewing new contractor proposals for Western half of Manica mine

By: Marleny Arnoldi     25th June 2018 Diversified miner Xtract Resources continues to review new contractor proposals for the Western half of its Manica gold project, in Mozambique, after previous contractor Moz Gold’s gold recovery rate was found to be unsatisfactory as a result of the fine nature of the gold and the processing... 

Barrick’s talks with Tanzanian govt progressing

By: Marleny Arnoldi     25th June 2018 Canadian gold miner Barrick Gold Corporation says progress has been made in discussions between the company and the Tanzanian government on the drafting of definitive agreements that are necessary for the implementation of proposed framework agreement with Barrick’s 63.59% owned and independently... 

Barrick’s talks with Tanzanian govt progressing
Barrick subsidiary Acacia Mining's Bulyanhulu mine.

Western Australian gold juniors Excelsior and Spitfire merge

By: Esmarie Swanepoel     25th June 2018 Juniors Excelsior Gold and Spitfire Materials have struck a court-approved merger agreement to create a gold company with a diversified portfolio of exploration and development assets. The merger will be implemented through a scheme of arrangement, with Spitfire will acquire all of the issued... 

Western Australian gold juniors Excelsior and Spitfire merge

WPG lowers production expectations

By: Esmarie Swanepoel     25th June 2018 Gold producer WPG Resources has again lowered its full-year production expectations as its Challenger mine, in Western Australia, continued to disappoint. WPG previously forecast a combined production of between 58 000 oz and 60 000 oz for its Challenger and Tarcoola operations. However, the... 

Apollo get clearance for Couflens buy

By: Esmarie Swanepoel     25th June 2018 The French Ministry of Economy and Finance has given approval for ASX-listed Apollo Minerals to acquire the remaining 20% interest in the Couflens s tungsten/copper/gold project. Apollo in March this year struck a deal with fellow-listed Variscan Mines to acquire the remaining interest in the... 

Equinox separates copper and gold assets

By: Creamer Media Reporter      25th June 2018 Canadian junior Equinox Gold has announced the creation of a standalone company – Solaris Copper – to advance its exploration-stage copper projects Ecuador, Mexico, Chile and Peru. Equinox will own 40% in Solaris Copper, which will not initially be listed on a stock exchange listing, with the... 

Minerals Council said to plan free-carry challenge

By: Bloomberg     25th June 2018 South Africa’s main mining lobby group told analysts and mining companies that it would probably challenge a final draft of the government’s new Mining Charter if two key points of dispute aren’t removed, according to two people familiar with the matter. The Minerals Council South Africa, which... 

Minerals Council said to plan free-carry challenge
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Paulson urges underperforming gold miner to seek a buyer

By: Bloomberg     25th June 2018 Billionaire hedge-fund manager John Paulson is among investors pushing for Canadian miner Detour Gold to put itself up for sale, citing stock losses amid managerial missteps. In a letter to the Toronto-based company’s board, Paulson & Co said directors had “failed to recruit and oversee a... 

Paulson urges underperforming gold miner to seek a buyer
John Paulson

Ghana approves Gold Fields, Asanko JV

By: Anine Kilian     22nd June 2018 The Ghanaian government has granted regulatory approval for the completion of Gold Fields’ joint venture (JV) with Canada-based Asanko Gold. Gold Fields and Asanko announced in March that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM), in Ghana, for $185-million. 

Vast one step closer to final approval for Baita Plai

By: Mariaan Webb     22nd June 2018 Aim-listed mining company Vast Resources could start mining a 1.8-million-tonne-orebody in Romania in the near future, with the company only one regulatory step away from final approval for the Baita Plai polymetallic mine. Vast said Minister of Economy had approved the association licence... 

Vast one step closer to final approval for Baita Plai
The Baita Plai tailings dam

Tri-Star raises cash to invest in Oman antimony project

By: Mariaan Webb     22nd June 2018 London-listed Tri-Star has announced a placing to raise £13-million, the proceeds of which mainly will be used to meet its share of additional investment in its Oman antimony and gold processing joint venture (JV). Tri-Star, which owns 40% of Strategic and Precious Metals Processing (SPMP), said... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

By: Bloomberg     22nd June 2018 Flush with cash and armed with a knack for spotting mines producing below their potential, SSR Mining is on the hunt for more assets. “We want to continue to grow, no question,” John DeCooman, VP of strategy and business development, said in an interview Wednesday. “We’ll continue to look for... 

Cashed-up bargain hunter SSR is on the prowl for next gold mine

Stonewall plans for 2019 restart of production at Pilgrims Rest project

By: Nadine James     22nd June 2018 ASX-listed Stonewall Resources’ Pilgrims Rest gold project, in Mpumalanga, is expected to start production towards the end of 2019. Stonewall Mining South Africa CEO George Jenkins told African Mining Network attendees on Thursday evening that the company is converting its mining permits to... 

Ghana Parliament ratifies AngloGold’s Obuasi agreements

By: Anine Kilian     22nd June 2018 Ghana’s Parliament has ratified regulatory and fiscal agreements that cover the redevelopment of AngloGold Ashanti’s Obuasi gold mine into a modern, productive mining operation. The ratification, on Thursday, of the development agreement, together with the tax concession agreement, is an... 

Semafo appoints new exploration VP

By: Anine Kilian     22nd June 2018 Richard Roy has been appointed VP of exploration at TSX-listed Semafo, effective July 1. He succeeds outgoing VP of exploration and geology and qualified person Michel Crevier, who will step down on June 30, but remain available to the corporation on a consulting basis. 

West African updates Sanbrado feasibility study

By: Esmarie Swanepoel     22nd June 2018 An updated feasibility study (FS) into the Sanbrado gold project, in Burkina Faso, has increased the project’s production expectations and the mine life, owner West African Resources reported on Friday. Sanbrado is expected to produce an average of 211 000 oz/y of gold over the first five years... 

Board spill a delaying tactic to repay A$1m – Empire

By: Esmarie Swanepoel     22nd June 2018 The directors of gold junior Empire Resources have urged shareholders to vote against a proposed board spill at the company’s general meeting on July 24, saying that the requisition is a delaying tactic by parties owning the company A$1.02-million. The Supreme Court of Western Australia earlier... 

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