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Venturex raises A$4m from investors

By: Esmarie Swanepoel     17th November 2017 Metals explorer Venturex Resources will raise some A$4-million through an institutional placement to advance its Sulphur Springs copper/zinc project, in Western Australia. The company on Friday said that it would place some 222-million shares, at 1.8c each to institutional and sophisticated... 

Bauxite Resources: Mercantile’s statements misleading

By: Esmarie Swanepoel     17th November 2017 Takeover target Bauxite Resources has defended its position in the wake of a proposed takeover offer from ASX-listed Mercantile Investment Company. Mercantile on November 8 announced its plans to make a proportional off-market takeover bid for Bauxite Resources, offering 9c a share for one of... 

Finders expects lower Dec quarter copper output, higher costs

By: Esmarie Swanepoel     17th November 2017 Copper miner Finders Resources reported on Friday that a delay at its Wetar copper project, in Indonesia, would see quarterly production remain below par. The company lowered its copper cathode production for the December quarter to be between 4 000 t and 5 000 t, from a previous estimate of... 

More ounces added at Antipa's Citadel project

By: Esmarie Swanepoel     17th November 2017 ASX-listed Antipa Minerals has reported a 50% increase in gold grade and ounces at its Citadel project’s Calibre deposit, in Western Australia, following an exploration programme funded by major Rio Tinto. The Calibre deposit is now estimated to host an inferred mineral resource of 47.7-million... 

Lithium Power shares rise as Chinese show interest

By: Esmarie Swanepoel     17th November 2017 The share price of Lithium Power International increased by nearly 9% on Friday on news of Chinese interest at the Maricunga lithium brine project, in Chile. Lithium Power on Friday confirmed that its Chilean joint venture partner has entered into discussions with Chinese major Fulin Group, over... 

Korab takes another look at Winchester

By: Esmarie Swanepoel     17th November 2017 ASX-listed Korab Resources has initiated an update to the prefeasibility study (PFS) of its Winchester magnesite project, in the Northern Territory, with the aim of incorporating the recent increase in global magnesium carbonate prices, potential changes to the mine lay-out and openpit contours,... 

Barra raises cash for Mt Thirsty

By: Esmarie Swanepoel     17th November 2017 Junior metals explorer Barra Resources will raise A$1-million through a share purchase plan (SPP) to advance its Mount Thirsty cobalt project, in Western Australia, to beyond the recently completed scoping study. The SPP will allow shareholders to subscribe for up to A$15 000 worth of new... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

Gascoyne extends Dalgaranga mine life

By: Esmarie Swanepoel     16th November 2017 Gold developer Gascoyne Resources has added ounces to its Dalgaranga project, in Western Australia, which could extend gold production to beyond the planned six years. The ASX-listed miner on Thursday announced that the mine plan for the Dalgaranga project had been updated to include the... 

Mustang announces outcomes of ruby strategy review

By: Esmarie Swanepoel     16th November 2017 Ruby miner Mustang Resources will implement a number of measures to fine tune its operational strategy, including temporarily suspending the artisanal miner development programme (AMDP) following disappointing results from its maiden tender. Mustang earlier this month launched a review into the... 

Santos denies takeover rumours

By: Esmarie Swanepoel     16th November 2017 Oil and gas major Santos on Thursday refuted claims that it was engaged in takeover talks with Harbour Energy. The company told shareholders that it had received a confidential, nonbinding conditional and indicative proposal from Harbour Energy in August, to acquire all the shares in Santos for... 

Cazaly changes focus at Mt Venn

By: Esmarie Swanepoel     16th November 2017 Junior Cazaly Resources is reviewing the base metal potential of its Mount Venn project, in Western Australia, after fellow-listed Great Boulder Resources discovered copper/nickel/cobalt mineralisation at its own Yamarna project. The results from Great Boulder’s first nine holes at its Yamarna... 

Kingsgate facing board spill

By: Esmarie Swanepoel     16th November 2017 Embattled gold miner Kingsgate Consolidated is facing a board spill after shareholder Metal Tiger requested a general meeting to remove a number of the company’s directors. Metal Tiger is hoping for shareholder support to remove Ross Smyth-Kirk, Sharon Skeggs and Peter Warren as directors of... 

New Hope increases output and sales

By: Esmarie Swanepoel     16th November 2017 Coal miner New Hope has reported an increase in both production and sales during the quarter ended October, as weather conditions in New South Wales improved. Total saleable coal production during the three months under review reached 2.37-million tonnes, up from the 2.24-million tonnes... 

Nkwe resumes trading on the ASX

By: Esmarie Swanepoel     16th November 2017 South Africa-focused Nkwe Platinum has resumed trading on the ASX after nearly a year, following the lifting of a Section 47 notice on its Garatau project, in Limpopo. The South African Department of Mineral Resources (DMR) issued the Section 47 notice in October last year, threatening to... 

Zeta ups holding in three companies

By: Esmarie Swanepoel     16th November 2017 ASX-listed Zeta Resources has executed a binding term sheet that would see it increase its stake in three resource companies. Zeta on Thursday announced that it would acquire investment holding company Axelrock for 110.8-million shares, at a deemed issue price of 45.2 c a share, valuing the... 

Walkabout buys Lonmin’s Northern Ireland exploration portfolio

By: Esmarie Swanepoel     15th November 2017 Graphite developer Walkabout Resources on Tuesday announced its plans to diversify its exploration portfolio, with the acquisition of platinum miner Lonmin’s Northern Ireland exploration portfolio. Under the terms of the transaction, Walkabout acquired Lonmin’s Northern Ireland exploration... 

Myanmar raises A$7m for Bawdwin

By: Esmarie Swanepoel     15th November 2017 Base metals explorer Myanmar Metals will raise A$7-million through a share placement to help fund work at its Bawdwin zinc/lead/silver/copper project, in Myanmar. The company on Wednesday announced that it had received binding commitments for 100-million new fully paid shares, at a price of 7c... 

AWE launches A$48m capital raise

By: Esmarie Swanepoel     15th November 2017 Oil and gas explorer and producer AWE is hoping to raise about A$48-million through an institutional share placement and a share purchase plan (SPP). The ASX-listed company on Wednesday announced that it would issue 76.9-million shares, at a price of 50c each to institutional investors, to raise... 

Liontown to drill Kathleen Valley

By: Esmarie Swanepoel     15th November 2017 Lithium hunter Liontown Resources has been granted consent by the Minister of Aboriginal Affairs to start drilling at the Kathleen Valley lithium project, in Western Australia. The company on Wednesday told shareholders that it would now lodge a programme of works with the Department of Mines... 

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

Trek raises cash, acquires Arunta project

By: Esmarie Swanepoel     15th November 2017 Junior explorer Trek Metals has acquired unlisted Elm Resources in a deal valued at A$300 000. Elm Resources is the owner of the Arunta lithium and cobalt project, in the Northern Territory, which includes seven exploration licenses applications totaling 5 274 km2. 

Piedmont gains more ground in US

By: Esmarie Swanepoel     15th November 2017 Emerging lithium development company Piedmont Lithium has increased its foothold in North Carolina, acquiring a further 188 acres from local landowners. The company currently holds some 903 acres within the Carolina tin spodumene belt, with the ASX-listed company aiming to consolidate landholding... 

Newcrest hunting for investments, including acquisitions

By: Esmarie Swanepoel     14th November 2017 Gold miner Newcrest Mining MD Sandeep Biswas said on Tuesday that the company was hunting for new investment opportunities, but stressed that it would remain “very disciplined” in its evaluation and execution of any new opportunities. In a copy of a speech delivered at the company’s annual... 

Consolidated Zinc rethinks strategy for Mexican project

By: Esmarie Swanepoel     14th November 2017 ASX-listed Consolidated Zinc has revealed plans to more than double planned production at its Plomosas zinc mine, in Mexico, following increasingly positive exploration results. Rather than starting small-scale mining as an initial step in 2018, Consolidated Zinc said on Tuesday that it was... 

Scoping study confirms West Musgrave potential – Oz Minerals

By: Esmarie Swanepoel     14th November 2017 ASX-listed Oz Minerals has committed A$19-million to proceed to the next stage of earn-in at the West Musgrave nickel/copper project, in Western Australia. To earn a 51% interest from fellow-listed Cassini Resources, Oz Minerals will proceed to a prefeasibility study (PFS) following a positive... 

Anova starts development at Second Fortune

By: Esmarie Swanepoel     14th November 2017 Junior gold developer Anova Metals has reported the start of mine development at the Second Fortune operation, in Western Australia. Anova, which in June this year merged with fellow-listed Exterra Resources, on Tuesday told shareholders that mining contractor GBF had been mobilised to site and... 

Waitsia reserves increased by 78%

By: Esmarie Swanepoel     14th November 2017 An independent review of the Waitsia gas field, in Western Australia, has increased the 2P reserves by some 78%, ASX-listed AWE reported on Tuesday. The review by Perth-based RISC Operations estimated a gross 2P reserve of 811 PJ, with AWE telling shareholders that the increase reflected the... 

Iron Road finds more takers for infrastructure

By: Esmarie Swanepoel     14th November 2017 Iron-ore developer Iron Road has inked a memorandum of understanding (MoU) with grain growers in South Australia to develop a grain terminal and export facility. The MoU was signed with a recently formed farmers cooperative EPCBH and would see Iron Road work collaboratively to establish a grains... 

Kalamazoo increases resource at Mixy

By: Esmarie Swanepoel     14th November 2017 Junior Kalamzoo Resources has reported 63% increase in the contained metal estimate at its flagship Mixy project, in Western Australia. The explorer told shareholders that an updated mineral resource has seen an 85% increase in grades and a 13% increase in tonnage at Mixy, with the project now... 

Australian Bauxite to produce aluminium fluoride

By: Esmarie Swanepoel     13th November 2017 ASX-listed junior Australian Bauxite has inked a heads of agreement (HoA) with technology provider Refined Ore Industries (ROIL) to produce aluminium fluoride from bauxite. Under the terms of the HoA, Australian Bauxite will have exclusive global rights to produce aluminium fluoride from the... 

Altura says time is right for lithium expansion

By: Esmarie Swanepoel     13th November 2017 A scoping study into the expansion of the Altura lithium project, in Western Australia, has confirmed that duplicating the size of the current production plant to double output, will be the best expansion option for the project. The Stage 1 operation will have a nameplate output of 220 000 t/y... 

Aurizon confirms talks to buy Wicet coal terminal

By: Esmarie Swanepoel     13th November 2017 Australian freight rail operator Aurizon on Monday confirmed that it was in preliminary discussions to acquire the Wiggins Island coal export terminal (Wicet), in Queensland. Wicet is currently owned by a consortium of Australian and international resource companies, including Glencore and New... 

Mustang MD steps downs

By: Esmarie Swanepoel     13th November 2017 The MD of ruby miner Mustang Resources, Christiaan Jordaan, has handed in his resignation, effective immediately. The company on Monday told shareholders that Jordaan’s decision to resign was a personal one, and had reluctantly been accepted by the company’s directors. 

Barra buys back Burbanks gold mine

By: Esmarie Swanepoel     13th November 2017 ASX-listed Kidman Resources has continued its drive to divest of its Western Australian gold assets, signing a deal with fellow-listed Barra Resources to sell its subsidiary Coolgardie Mining Company. Under the terms of the agreement, announced on Monday, Barra would pay Kidman an upfront fee of... 

Rio completes off-market buy-back

By: Esmarie Swanepoel     13th November 2017 Diversified giant Rio Tinto has completed a A$750-million off-market buy-back, with all shares purchased to be cancelled. The miner in September initiated the buy-back, which was increased from an indicative A$700-million, as part of its $2.5-billion share buy-back programme, returning the... 

Emerald's Okvau granted enviro approval

By: Esmarie Swanepoel     13th November 2017 The Cambodian Ministry of Environment has granted the Okvau gold project, being developed by ASX-listed Emerald Resources, environmental approval. With an environmental contract now signed, Emerald is able to progress to the final stages of its application for an industrial mining licence, the... 

Avanco ups gold resource by 45%

By: Esmarie Swanepoel     13th November 2017 ASX-listed Avanco Copper has reported a 45% increase in the resource estimate at its Centro gold project in, Brazil. The company on Monday reported a maiden resource estimate of 11.3-million tonnes, grading 1.6 g/t gold for 577 000 oz of gold at the Chega Tudo deposit, taking the combined... 

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