Tag: Ora Banda Mining

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Morning News Bites – Jul 31

In today’s morning news bites:

AMP has provided an update on its first half 20 details where it completed the sale of AMP Life, several junior explorers have reported their quarterly reports this week and PM Scott Morrison meets with Victorian Premier Daniel Andrews on further restrictions as the PM also says there is no reason to keep WA borders closed.

  • Mandrake Resources continues to develop Newleyine into a highly prospective Ni-Cu-PGE target. Newleyine is located around 30km east of Chalice Gold’s Julimar Ni, Cu, PGE project. While drilling at Mandrake’s Northern Territory – Berinka Pine Creek Gold Project is set to begin next week.
  • The development of Classic Minerals to become a gold producer continues. According to Classic Minerals, RC Drilling at Kat Gap is set to continue into the FY21 with targets on the interpreted plunge component of high-grade gold mineralisation with deeper RC drilling. Quarter 1 FY21 will also include advancing all aspects of the mining plan at Kat Gap, the acquisition of necessary mining equipment for Kat Gap and continuing to raise capital & pay down debt & liabilities to improve the financial position of the Company.
  • 460,000-ounce gold ore reserve has been declared at six deposits within 50 km of the Ora Banda Mining plant, this was one of the highlights for Ora Banda Mining for the previous quarter. An AISC of $1,578 /oz is one of the key outcomes within the DFS for an Australian gold price of $2,550. The recent capital raising Equity capital raising was strongly supported and proceeds from the equity raising, together with existing cash, will see Ora Banda fully funded through to production at Davyhurst, targeted for January 2021

    Dacian Gold
    Dacian are within FY20 guidance
  • Dacian Gold is within guidance for its Mount Morgans Gold Operation, reporting 138,814 oz at an AISC of $1,619/oz which was within guidance of between 138,000-144,000 ounces at MMGO AISC $1,550-1,650/oz for the financial year. Drilling programs commencing at the Cameron Well and Mt McKenzie deposits will take place within the first half of 2021 financial year. As of June 30, Dacian had a total cash and unsold gold on hand of $57.3 million.
  • Drill results at Kirkland Gold’s Fosterville Gold Mine have been released with several key intersects with Infill drilling into the Swan Mineral Reserves which included 976 g/t Au over 7.4 m, 933 g/t Au over 6.4 m  and 416 g/t Au over 6.8 m. According to Tony Makuch, President and CEO of Kirkland Lake Gold “Drilling at Fosterville continues to demonstrate the significant size and scale of the mineralised structures, all of which contain quartz veining with 2 visible-gold and all of which have the potential to host additional Swan or Swan-like zones. At the Swan Zone, results from new infill drilling include higher than expected grades, which is encouraging as we work towards our next Mineral Reserve and Mineral Resource update. In particular, the infill results confirm that the area where the Swan Fault and Swan Footwall Splay intersect contains more gold than currently modelled.” Kirkland also released Q2 results which included revenue more than doubling on same quarter in 2019, solid operating results and $537.4 million with no debt.
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Morning News Bites – July 15

Woodside has posted a record production, Afterpay launches in store in the US and artist Banksy has been a rat…. painting rats on the London Underground with a COVID-19 flavour.

A worker has died after being involved in an incident at Saracen Minerals Dervish mine at Carosue Dam. Saracen Managing Director Raleigh Finlayson expressed the Company’s deepest sympathy to the worker’s family, friends and colleagues. “This is an extremely tragic accident and all our thoughts are with his family at this very difficult time”, Mr Finlayson said. “The health and safety of our people is always our first priority. Saracen is currently working closely with the WA Department of Mines, Industry Regulation and Safety on the continuing investigation, while working with our contract partners to ensure full support is provided to the family and all Saracen employees and contractors.” Processing operations have recommenced with underground  and open pit to commence imminently. Saracen has announced the Company’s other operations are continuing as normal. Saracen’s FY21 production guidance remains unchanged.

Lynas Corporation’s Kalgoorlie facility is on the way to construction with Metso Outotec awarded the contract for Kiln construction. The 110 metre long, 1500 tonne kiln is the largest and longest lead time piece of equipment required for the plant’s operation. Lynas Corporation Managing Director Amanda Lacaze said “The kiln is the longest lead time item for our Kalgoorlie project and placing this order is an important milestone in the development of our new processing plant in Kalgoorlie. We are making good progress on the project, and we look forward to working with Metso Outotec on the engineering and supply of the kiln.” Construction will begin immediately with components from Australia and Europe. The contract is valued at approximately USD 15 million (AUD 21.6 million), including the discharge housing, combustion chamber and burner, motor control stations and delivery to Kalgoorlie.

GR Engineering Services has been awarded a contract for engineering, procurement and construction for the restart at the Ora Banda Mining Davyhurst Mine. The contract price worth $10.8 million includes refurbishment, optimisation and recommissioning of the existing 1.2 Mtpa Davyhurst Gold Processing Plant, borefields and associated infrastructure. Work will start immediately and Managing Director of GR Engineering Geoff Jones, said the company is excited to be working on the project. “GR Engineering is pleased to have been awarded the EPC contract for the Davyhurst Restart Project. We are excited to be working with Ora Banda’s management team and look forward to Ora Banda becoming Australia’s newest gold producer.” he said.

Stavley Minerals has divested its interests Mathinna/Alberton and Lefroy Goldfields tenements. as well as its Fosterville East tenement in Victoria to Nubian Resources Ltd for A$2.5 million in Nubian shares and cash. Executive Chairman Chris Cairns gave some insight into the divestment “The Fosterville East tenement is located just 10km to the east of the Fosterville mine, while the geology of the Mathinna/Alberton and Lefroy goldfields is the same sequence of sediments as those in central Victoria extending under Bass Strait into north-eastern Tasmania,” he said. “We are fully focused on defining the extents of the exciting Cayley Lode high-grade copper-gold-silver discovery at the Stavely Project, while also unlocking the full potential of this highly prospective, multilayered exploration opportunity for our shareholders,” While Mr Cairns also discussed the upside Stavely will retain significant exposure to the future upside from any exploration success via a significant shareholding in Nubian at a time of significant investor interest in the Victorian gold exploration industry in the North American market.”

Focus Minerals has revealed recent shallow drilling campaigns, which will deliver a 213% increase in total Mineral Resource at Beasley Creek South. The best intersect being 17m at 9.28g/t Au from 168m. This recent campaign has adjusted the total Mineral Resource to  1.014MT at  3.55g/t for a total of 115,761oz. The target for Beasley Creek has now also been adjusted to 1.8Mt to 2.0Mt at 2.6 g/t to 3.6 g/t Au for 150Koz to 243Koz. Focus Minerals’ CEO, Mr Zhaoya Wang said “The combination of Beasley Creek South and Beasley Creek could potentially deliver Focus a low CAPEX and OPEX operation in Laverton, which could accelerate the progress of achieving the Stage 2 production plan in Laverton. With the Stage 1 Laverton pre-feasibility study underway, we are looking forward to seeing what Laverton bring to our stakeholders for the near term.”