Month: June 2020

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Morning News Bites – June 4

Mortgage stress is still apparent for hundreds of thousands of Australian’s with default threats real for around 100,000 homeowners.

  • Great Northern Minerals has received travel permits to commence mining operations in North Queensland. A drilling contractor is expected to be announced in the next week as Great Northern review drilling contracts. Great Northern are looking at following up on the 2019 results and the first drilling at Camel Creek is set to take place. Cameron McLean, Great Northern Managing Director is eager to get the program underway “There is certainly no shortage of drill targets. The ability for the first time in many years to systematically assess three large under explored high grade gold projects via deeper drill testing is a unique opportunity for GNM and we look forward to commencing the work”.
  • Blackham Resources have reported the latest drill results from their Wiluna Mining Centre where there are seven rig currently in operation. The latest results are from a further 17 holes and 2,947m drilled at Golden Age, testing extensions targets between the 850 – 600 underground levels. Executive Chairman of Blackham Resources Milan Jerkovic said “While the Company is focussed on optimising the mine plan around our large Wiluna sulphide resource and transitioning to gold concentrate production, these results also deliver on our parallel free-milling strategy. We aim to extend the high-grade Golden Age orebody to sustain or increase production and improve transitional cashflow over the next 12-18 months ahead of sulphides production from September 2021.”

Highlights from the latest drill results include:

GAGC0318: 3.8m @ 7.90g/t from 43.0m

GAGC0320: 1.8m @ 39.68g/t from 47.3m

GAGC0321: 2.6m @ 21.74g/t from 49.1m

GAGC0322: 0.8m @ 22.80g/t from 55.0m

GAGC0323: 1.2m @ 11.08g/t from 38.5m

GAGC0325: 0.4m @ 12.10g/t from 52.6m

GARD0112: 7.1m @ 7.47g/t from 185.9m, incl. 2.7m @ 17.32g/t

  • Strandline has updated its Definitive Feasibility Studies for it’s flagship Coburn Mineral Sands project. The original DFS from April has been updated to include Binding off take agreements, Technical optimisations, including incorporating results from confirmatory bulk metallurgical test work; Updated mineral sands commodity price forecast; and Consensus foreign exchange rate forecast. Strandline Managing Director Luke Graham pinpoints the location and the opportunity to get to going is moving quick “Coburn is situated in the key mining state of Western Australia and benefits greatly from its access to existing port, road and services infrastructure. Coburn is set to continue to capitalise from the forecast supply shortages in the global zircon and TiO2 markets. With the key development approvals in place, binding off take contracts signed with major customers and the funding process well underway, Coburn is moving rapidly towards development.” he said.
  • The Lachlan Belt in New South Wales has received interest from another resources company – Celsius Resources. Celsuis has entered into a Binding Heads of Agreement with Syndicate Minerals Pty Ltd to acquire the Cullarin West prospect between Goulburn and Yass. The Cullarin West prospect has had limited shallow drilling at Gooda Creek in the 1987 returned 1.95 m at 23.1 g/t gold and 1.0% copper. Daltons Goldfields is also part of the prospect and has had a limited drill programme conducted in 2012 returned a best result of 1 m @ 27.1 g/t gold.
  • New nickel targets have been identified at Mt Fisher for Rox Resources east of Wiluna. Rox conducted air core drilling along the northern part of the Mt Fisher greenbelt to test for further RC opportunities. RC is set to commence on the 15th of June 2020. Results of a recent VTEM survey in conjunction with the air core drilling have now been interpreted and identified 5 key locations where there are coincident EM conductors with nickel indicator geochemistry.
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Mader Group Celebrates 15 Years

Mader Group is proud to celebrate the company’s 15 year anniversary through the launch of a ‘Moments of Mader’ competition to showcase the business’s fast-paced journey to success.

Now recognised globally, the company has gained experience operating in 16 countries across 4 continents, acquiring a reputable position as the largest independent maintenance provider for heavy mobile equipment in Australia (outside of the original equipment manufacturers).

Founded in 2005, the business stems from humble beginnings with Founder and Executive Director, Luke Mader, working out of his Ute in the Kimberley’s as a young mechanic. It was here he serviced his first ever customer, Roche Mining – the first of a now 200+ wide customer base ranging from top tier miners to backyard equipment operators.

Expanding from its homestate, Western Australia, Mader entered West Africa and South East Asia in 2011 before taking on the rest of the nation. Between 2016 and 2018, the company established offices in Australia’s second and third largest mining states, Queensland and New South Wales, before opening office in Colorado, North America.

“Our geographical footprint allows employees the chance to travel the world without changing their shirt,” said Luke Mader, Executive Director of Mader Group.

“In 2019, we sent a large team of specialists to South America to complete a planned shutdown for a Liebherr 996 Mining Excavator. This was a great feat for the company but also a prized experience for those fortunate enough to go for the 6 month period.”

Offering access to tap on, tap off maintenance services in Australia, Africa, Asia and the Americas, the international conglomerate has sustained organic growth and maintained momentum through a number of adverse climates. In 15 years of operation, the company’s business model has stood strong against setbacks including the Global Financial Crisis, a 4 year period of economic downturn and the latest global Coronavirus pandemic.

The company’s continued success is a testament to its people and community focus. With over 1,300 staff at its helm, Mader takes pride in being a big company with a small business feel. The business often sponsors community events in regional areas and supports a strong base of repeat customers comprising long standing, recurring relationships over a decade long.

One of Mader Group’s latest ventures, invests back into the mining sector by shaping the future of the workforce. In the past 12 months, Mader have run a series of Trade Upgrade Programs upskilling experienced Light Vehicle Mechanics to Heavy Duty Diesel Mechanics.

“The program gives tradespeople a foothold into the mining industry. We were thrilled to see our first wave of upskilled duel traders celebrating 6 months in the field just last week,” Luke Mader explained.

“This year has been a whirlwind which marks many milestone achievements for us. We’re excited to celebrate 15 years in operation and to see where the next 15 will take us.”

 

With assistance Mader Group

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Morning News Bites – June 3

Shares in diversified mining group Perenti closed up over 13% on trade yesterday. A strengthening Aussie dollar has gold at $2505.32 = $1726US/oz while Seven Group Holdings have increased its interest in Boral which jumped 6.33%

  • Bain Capital and Hedge FundCyrus are the last two standing for airline Virgin Australia. Both suitors have until June 12 to complete their offer to administrators. It’s then anticipated that the new owner of Virgin Australia will be announced by June 30. Both final contenders have aviation experience and its believed links to Virgin boss Richard Branson.
  • An expanded drill program has been announced by Castillo Copper for its Big One deposit within the Mt Oxide Pillar in Queensland. A review of relevant historical information in particular, Along the line of lode at depth below known shallow supergene ore mineralisation, which is 600m long, and includes three historic open pit workings.
  • More significant shallow intercepts have been found for Kin Mining at its Cardinia Hill discovery. The results from its drill program relate to and build on previous announced results in recent weeks. According to Managing Director Andrew Muckton “We are continuing to build the geological picture at Cardinia Hill, with the latest results providing further important insights into what appears to be a significant zone of shallow mineralisation extending over a 500m strike length.” Mr Muckton was also open on the future drill plans “Cardinia Hill is just one of several emerging areas that we plan to drill aggressively in the coming months. While the final assays from the air-core program at Helens East were unsuccessful in confirming a significant northern extension of the Cardinia Hill mineralisation, there is plenty of follow-up work to do at Helens East and Helens South.” he said.

  • Aus Gold Limited has commenced RC drilling at its Katanning Gold Project in the Great Southern region of Western Australia. Drilling will be high impact RC drilling for a total of 21 holes for 3,200m and should be completed by teh end of June. Ausgold Managing Director Matthew Greentree, said the new drilling will look better at targets already identified. “This new round of RC drilling follows up on targets identified in the recent rounds of drilling which have combined DHEM programs with recent drilling. The new EM targets have identified several potential strike extensions of the high grade Jinkas South lode which potentially extends for over 1 km north beneath the current Jinkas Resource. These new targets have the potential to add high-grade ounces to the current the 1.2 Moz gold Resource at Katanning.” Mr Greentree said.
  • Norwest Minerals have identified an 800m gold anomaly at its Bulgera mining centre. A completed drilling program saw a 4,520 metre aircore drilling programme testing gold targets along the 5-kilometre Bulgera greenstone mine sequence. with this the aircore drilling identified a new 800-metre gold anomaly located southwest of the Bulgera Mining Centre near recently collected highgrade gold surface samples. The project is around 45km via haul road from the Plutonic Gold Mine.

 

 

 

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Morning News Bites – June 2

Markets are on the rise as factories are starting to return. Could Australia be headed for negative interest rates, the Reserve Bank meet today,

 

  • Thick shallow gold intercepts found with Dreadnought Resources at their Rocky Dam project near Kalgoorlie. Managing Director Dean Tuck was encouraged by the results which included:

    RDRC002: 45m @ 0.6 g/t Au from 18m including 9m @ 1.7 g/t Au from 42m

    RDRC006: 40m @ 0.2 g/t Au from 19m

  “Our maiden drill results at CRA-North are highly encouraging with good widths and reasonable grades. The           bedrock mineralisation and potentially higher grades are interpreted to sit to the west and at depth beneath the   recent intercepts. The thick shallow oxide mineralisation combined with ~300m of strike and proximity to Kalgoorlie    makes CRA-North an attractive target for further drilling as soon as logistically possible.” Mr Tuck said.

  • A high definition drone will provide detail on the trends and drilling over the Metalicity Kookynie Gold Project as a significant strike extension has been identified. Managing Director of Metalicity Jason Livingstone said “Concurrent with our drilling programme underway at the Kookynie Gold Project, we have engaged RocAerial with their drone to complete a very high detailed geophysical survey over all live tenure within this Project.” “I am very keen to further define the structural framework that potentially hosts mineralisation north and south of the prolific Cosmopolitan Gold Mine which produced 360,000 ounces of gold and the strike continuation of Champion, but also the significant 2 kilometre trend between Leipold and McTavish. Let alone the Altona trend some 1.5 kilometres east of the Cosmopolitan where some 80,000 ounces has been produced historically with very little follow up work done in the modern era.”
  • A large gold target has been identified at the Tucklan project in the Lachlan Fold belt in New South Wales. The project with Sultan Resources is 45km from Alkanes Boda discovery and is undrilled. Soil sampling across a 100m x 100m grid has defined a 1.5km x 0.30km, NW-SE striking, coherent gold in soil geochemical anomaly showing gold values consistently greater than 7.2ppb Au.
  • The strike length at Taruga Minerals Woolshed deposit has been extended after reprocessing of government airborne magnetic data. Taruga has highlighted the portential for a 15km strike of Iron-Oxide-Copper-Gold. The reprocessing has also highlighted the potential mineralisation of surface or shallow depth targets. 
  • Auroch Minerals has entered a trading halt, prior to which it released results from its RC Drilling program at its Saints Nickel Project. A capital raising is set to to be announced. The Saints Nickel Project is 65km north west of Kalgoorlie.

 

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Newcrest’s Cadia Still Number One

Gold production in Australia fell by 10 tonnes or more than 12 % for the March quarter. This is compared to the previous December quarter which was a record quarter, as Surbiton Associates released their latest gold production figures for the March quarter.

The Newcrest Cadia East mine near Orange in New South Wales, kept the mantle as the leading producer in Australia. Cadia produced 195,181oz in the March quarter. Kirkland Lake Gold’s Fosterville Mine was the next best producer with 158,84oz, followed by Western Australia’s Newmont GoldCorp’s Boddington mine which was down 54,000 oz on the previous quarter to 142,000oz. Saracen/Northern Star JV Kalgoorlie Super Pit reported its first full quarter figures under new ownership and produced 117,127oz up around 3000oz. Newmont Goldcorp’s Tanami rounding out the top five produced 116,000oz.

In summarising the reduction on this report, Dr Sandra Close, a director of Surbiton Associates said “The reduction in output is no cause for alarm, it is no great surprise that the March quarter 2020 gold production is down,” said Dr Close “I think record Australian dollar gold prices were a significant contributing factor.”

There were some reports of increased production and that included at Beta Hunt. The Beta Hunt mine is the home of the famous Fathers Day vein discovered in 2018, The RNC Minerals mine was up 12,400 ounces. While Mt Carlton, Qld (Evolution Mining), is up 4,200oz.