http://www.miningweekly.com
R/€ = 15.76 Change: 0.04
R/$ = 13.39 Change: -0.14
Au 1300.85 $/oz Change: -8.89
Pt 927.00 $/oz Change: -14.00
 

Topic

Troy hopes to increase mine life at Karouni

By: Esmarie Swanepoel     5th September 2017 Gold miner Troy Resources is hoping to increase the mine life of its Karouni project, in Guyana, beyond the current timeframe of 2020. Troy said this week that the results of recent grade control drilling programmes and a higher gold price supported additional pit expansions in the Smarts 2, 3... 

Lower grades, higher costs weigh on Guyana Goldfields’ Q2 performance

By: Creamer Media Reporter      1st August 2017 Despite lower grades dragging down production at its Aurora mine, in Guyana, in the second quarter of this year, TSX-listed Guyana Goldfields has maintained its production guidance for the full-year, albeit at the lower end of the range of 160 000 oz to 180 000 oz of gold. The mine produced 29... 

Upstream oil industry continuing on the road to recovery – Woodmac

By: Esmarie Swanepoel     11th July 2017 New data by advisory firm Wood Mackenzie (Woodmac) has shown that the number of upstream oil projects reaching final investment decision (FID) in 2017 could double to 25, compared with only 12 last year. In its latest report ‘A big year for FIDs: 2017 marks a turning point’, Woodmac points out... 

ExxonMobil sanctions $4.4bn Liza development, offshore Guyana

By: Henry Lazenby     16th June 2017 American multinational oil and gas corporation ExxonMobil has made a construction decision for the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The Irving, Texas-based company said on Friday that the Liza Phase 1... 

Guyana Goldstrike reports first sales from Marudi

By: Henry Lazenby     15th June 2017 Guyana Goldstrike has recorded maiden sales of 910 oz of gold, which were mined and recovered by local small-scale alluvial, or artisanal, miners on the company’s Marudi gold project, as part of a corporate social responsibility drive. Through a cooperative agreement, artisanal miners have been... 

Mining Maverick lured out of hiatus by billion-dollar gold dream

By: Bloomberg     18th May 2017 Frank Giustra likes to see big where others think small. The Canadian mining magnate’s latest target is a subterranean patch of red earth in southwestern Mexico. In January his new undertaking, Leagold Mining, bought the Los Filos mine from Goldcorp for $350-million. It wasn’t the openpits... 

Troy MD steps aside

By: Esmarie Swanepoel     3rd May 2017 Gold miner Troy Resources has announced the resignation of MD Martin Purvis and CFO and company secretary Stacey Apostolou. The ASX-listed Troy on Wednesday told shareholders that with the installation of the new management team, recovery from the recent pit wall failure at the Karouni project,... 

Durban-based plant delivered to Guyana mine

     28th April 2017 A $2.5-million project, facilitating, executing and unloading a shipment of assets for an 800 t/d modularised gold plant relocated from Durban, in South Africa, to Buck Hall, in Guyana, was concluded toward the end of last year by Canadian engineering, procurement and construction firm JDS Energy... 

Gold company manager charged in vast Peruvian smuggling plot

By: Bloomberg     17th March 2017 The operations manager at a metals-refining company was charged with helping run a gold smuggling network that reaped-billions of dollars for illegal mines controlled by drug dealers and other criminals in South America. A criminal complaint against Juan Pablo Granda, 35, outlines a vast... 

Sandspring on the hunt for major minerals, partner in Guyana

By: Henry Lazenby     14th March 2017 Canada-listed project developer Sandspring Resources is firming up the resource base at the Toroparu gold project, in Guyana, with the focus on enticing a major partner to join the development of the nearly seven-million-ounce project. “We’ve got the backing of major mining investors such as... 

Troy suffers H1 loss

By: Esmarie Swanepoel     1st March 2017 Gold miner Troy Resources has reported a net loss of A$76.7-million for the six months to December 31, on the back of a noncash impairment charge of A$57.3-million on the carrying value of its Karouni asset, in Guyana, and the unwinding of a deferred tax liability. The net loss was widened from a... 

Troy hopes for Smarts restart in Feb

By: Esmarie Swanepoel     1st February 2017 Independent geotechnical assessments of the south wall failure in the Smarts stage 3 operation, at the Karouni project, in Guyana, have confirmed that full-scale mining operations can resume this month, gold miner Troy Resources has reported. At the end of last year, Troy warned of unstable... 

Lower costs, higher grades are key for U3O8 to attract attention in difficult market 

By: Henry Lazenby     14th January 2017 Uranium-focused resource companies paid attention to the changing uranium landscape this week after major producer Kazakhstan said it would curtail output by 10%, pushing spot prices higher. One of them was project developer U3O8 Corp, which is focused on uranium and by-product commodities at its... 

Guyana Goldfields sales hit high-end of improved guidance

By: Henry Lazenby     10th January 2017 TSX-listed Guyana Goldfields has celebrated the first year of commercial operations at the cornerstone Aurora gold mine, in Guyana, by hitting the top end of its upwards revised guidance for 2016. For 2016, Guyana Goldfields sold 156 000 oz at Aurora, close to the top end of its guidance of... 

Troy adjusts expectations as ground slips

By: Esmarie Swanepoel     15th December 2016 Gold miner Troy Resources has downgraded its 2016 production expectations from between 70 000 oz and 80 000 oz, to between 63 000 oz and 65 000 oz, on the back of unstable ground conditions at its Karouni operation, in Guyana. Troy said on Thursday that regular monitoring checks and telementry... 

Goldsource lifts loan facility to buy more plant equipment

By: Henry Lazenby     15th December 2016 Vancouver-headquartered gold producer Goldsource Mines has increased its existing $1-million loan facility with Mitan Holdings, a company controlled and directed by a director of the company, by a further $300 000. The funds will be used for the purchase, delivery and installation, early in the... 

Troy raises cash to fund growth

By: Esmarie Swanepoel     7th September 2016 Gold miner Troy Resources is looking to raise up to A$40.7-million through an institutional placement and nonrenounceable entitlement offer to accelerate growth opportunities. The ASX-listed company will issue up to 113-million new shares, priced at 36c each. Some A$18.4-million will be raised... 

With new articulated truck on site, Goldsource hits planned throughput

By: Henry Lazenby     3rd September 2016 With a brand new 40 t articulated truck arriving in Guyana after clearing customs on Thursday, Canadian gold miner Goldsource Mines was confident that it would once more hit planned throughput rates at its flagship Eagle Mountain mine and mill over the weekend, the company said on Friday. While... 

High-grade Sona Hill a potential game changer for Sandspring’s Toroparu project

By: Henry Lazenby     1st September 2016 The discovery of the nearby Sona Hill satellite deposit has blown new life into developer Sandspring Resources’ flagship Toroparu project, in Guyana, providing the prospect of higher grades of gold-only mineralisation – a potential game changer. 

Goldsource stock stumbles on revised lower guidance

By: Henry Lazenby     27th August 2016 The TSX-V-listed stock of junior gold producer Goldsource Mines on Friday fell by as much as 20% after the company revised lower its full-year guidance, citing weather-related issues, a delay in the shipment of a 40 t truck to site and low-grade ore. The Vancouver-based company reported that... 

Troy to adjust Karouni’s 2016 production guidance

By: Mariaan Webb     13th July 2016 ASX-listed Troy Resources reported on Wednesday that it would adjust its 2016 production guidance at the Karouni mine, in Guyana, after disruptions to the mill and ongoing processing difficulties hindered its June quarter performance. Troy said progress to advance the Smarts pit into fresh rock... 

Goldsource gaining momentum at Eagle Mountain

By: Henry Lazenby     11th July 2016 Having declared commercial production in June, Vancouver-based gold miner Goldsource Mines on Monday reported that it was gaining momentum at its flagship Eagle Mountain mine, in Guyana, where it had poured 145.2 oz of gold and sold 200.3 oz during the second quarter ended June 30. The company... 

Goldsource buoyant as Eagle Mountain reaches commercial production

By: Henry Lazenby     21st June 2016 Project developer Goldsource Mines has declared commercial production at its flagship Eagle Mountain mine, in Guyana. The company’s announcement on Tuesday resulted in buoyant trading on the TSX-V, pushing the stock 6% higher to C$0.48 apiece. 

Troy says Karouni output to be at lower end of guidance

By: Mariaan Webb     27th May 2016 Gold miner Troy Resources advised shareholders on Friday that gold production at its Karouni mine, in Guyana, would be at the lower end of its guidance for 2016, owing to ongoing disruptions in the milling circuit. The company explained that contaminated lubrication oil was found to be the cause... 

Karouni lifts Troy production

By: Esmarie Swanepoel     28th April 2016 The Karouni gold project, in Guyana, was delivering ahead of expectations, owner Troy Resources said on Thursday, with the product to date producing some 35% more ounces than predicted by the ore reserve model. The Karouni project, which poured its first gold in November last year, produced 20... 

With first sales under belt, Goldsource eyes adding an excavator at Eagle Mountain

By: Henry Lazenby     20th April 2016 Since starting commissioning activities late January, Guyana-focused gold producer Goldsource Mines has recorded sales of 81.7 oz of the yellow metal on April 14, at $1 240/oz. With a declaration of commercial production imminent, the TSX-V-listed project developer said Wednesday it would add a... 

Goldsource pours first gold in Guyana

By: Henry Lazenby     12th March 2016 TSX-V-listed Goldsource Mines this week announced the first gold pour at its flagship Eagle Mountain Gold mine, in Guyana, the third gold mine to come on stream in the country in less than a year. President Ioannis Tsitos told Mining Weekly Online in a recent interview that declaring commercial... 

Barrick signs on to Australian project in Guyana

By: Esmarie Swanepoel     1st March 2016 ASX-listed junior Alicanto Minerals has entered into an earn-in agreement with major Barrick Gold over the Arakaka gold project, in Guyana. Under the terms of the agreement, Barrick could earn a 65% interest in the project by spending $10-million within the next four years. 

Troy hits commercial milestone at Karouni

By: Esmarie Swanepoel     24th February 2016 The Karouni gold project, in Guyana, has reached commercial production, with owner Troy Resources reporting on Wednesday that all key components of the processing plants had been successfully commissioned. “Achieving commercial production is a significant milestone for the company,” said Troy MD... 

M&R subsidiary buys project, construction management group

By: Natalie Greve     6th January 2016 Murray & Roberts (M&R) subsidiary Cementation Canada has completed the acquisition of project and construction management services group Merit Consultants International. Merit has worked with global clients in the mining and resource industry, successfully participating in projects in the US,... 

Guyana Goldfields declares commercial production at Aurora

By: Henry Lazenby     6th January 2016 TSX-listed Guyana Goldfields has declared commercial production at its Aurora mine, in Guyana, as of January 1 this year, with construction completed below budget. The miner’s TSX-listed stock on Tuesday rose 7.23% to C$3.41 apiece on the back of the announcement. 

Troy raises A$10m in share placement

By: Esmarie Swanepoel     18th December 2015 Junior gold miner Troy Resources on Friday announced that it had raised some a$10-million through a share placement to institutional and sophisticated investors to supplement working capital requirements while it ramped up production at the Karouni project, in Guyana. Troy told shareholders that... 

First production at Goldsource’s Eagle Mountain project delayed

By: Henry Lazenby     16th December 2015 Canadian project developer Goldsource Mines’ has pushed out first production by about a month from the first phase of its Eagle Mountain gold project, located in Guyana, after critical equipment were damaged during delivery. The TSX-V-listed company on Tuesday said that an automation control... 

Guyana grants First Bauxite mining licence extension

By: Creamer Media Reporter      9th December 2015 Toronto-headquartered First Bauxite has been given at least a two-year extension to the construction starting date for its Bonasika ceramic proppant project, in Guyana. The TSX-V-listed company reported on Tuesday that the Guyana government had extended the construction commencement date under... 

Troy pours first gold at Karouni

By: Esmarie Swanepoel     23rd November 2015 Dual-listed gold miner Troy Resources has produced its first gold bar from the Karouni project, in Guyana. “We are extremely excited to have poured our first gold bar at Karouni. The plant is fully functional and we are operating at a level slightly ahead of our anticipated ramp-up programme,”... 

Troy commissions Karouni plant

By: Esmarie Swanepoel     26th October 2015 Dual-listed gold miner Troy Resources has completed the commissioning of the Karouni processing plant, in Guyana. The company reported on Monday that all parts of the plant have been dry and wet commissioned over the past six weeks and that the mill was the last major component to be put through... 

U3O8 Corp board, senior management waive fees and salaries owing

By: Henry Lazenby     30th September 2015 No further fees to be paid to the directors of Canadian uranium explorer U3O8 Corp until market conditions have improved, as its board has waived director fees and agreed to a recommendation from management to waive a portion of salaries deferred in 2014 and the first half of 2015. The company's... 

Guyana Goldfields reaches another milestone on road to commercial production

By: Henry Lazenby     23rd September 2015 Canadian project developer Guyana Goldfields (GGI) this week reported that the saprolite circuit at its Aurora gold mine, in Guyana, was fully operational, while the hard-rock circuit was mechanically complete and awaiting hard rock for processing. Precommercial production started in August, when... 

First
Prev
1
2 3 Next Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close