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.