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Mining Bulletin

The full story: In-depth news and analysis

100-YEAR LIFE POTENTIAL OUTLINED FOR HORIZON MINERALS’ RICHMOND VANADIUM PROJECT

Joint venture partners Horizon Minerals and Richmond Vanadium Technology are turning their attention to the costs and timing of a definitive feasibility study for their Richmond-Julia Creek vanadium project in NW Queensland, Australia.

FREEPORT-MCMORAN RECOVERS TO $329M Q3 20 PROFIT

All commodities up for Q3 20, lifting Freeport McMoRan net income $276M to $329M

WA IRON ORE MINERS SHAPE UP FOR LEGAL BATTLE OVER WONMUNNA DEVELOPMENT

Two of the most powerful men in the Western Australian mining sector, Fortescue’s Andrew Forrest and Mineral Resources’ Chris Ellison, are on opposite sites of the looming legal fight over plans by Ellison’s company to develop its newly acquired Wonmunna iron ore development in the Pilbara region.

COVID-19 CONTINUES TO HURT ANTOFAGASTA WITH Q3 COPPER-GOLD OUTPUT DOWN

Chilean copper-gold miner Antofagasta is still feeling the fallout from COVID-19, with molybdenum holding out to lift Q3 20 production.

HOCHSCHILD EMERGES FROM COVID-19 WITH Q3 20 GOLD-SILVER PRODN DOUBLED

Gold-silver miner Hochschild is successfully battling COVID-19 restraints that have hit all 3 of its operation, with gold-silver output doubling

St BARBARA Q1 21 GOLD PRODN PLUNGES TO 73,000oz

A combination of negatives have hit St Barbara’s 3-mine Q1 21 operations, pushing production down to 72,990oz from Q4 20’s 108,612oz

UPGRADED PFS UNDERPINS $4.8B CASHFLOW FROM LIONTOWN’S WA LITHIUM-TANTALUM PROJ

Big upgrade for Liontown Resources’ Kathleen Valley lithium-tantalum project, flagged for 1st production in Q1 2025

WA LEADERS NORTHERN STAR AND SARACEN AGREE MERGER TO CREATE NEW GLOBAL TOP 10 MINER

‘Merger of equals’ between dominant West Australian miners Northern Star Resources and Saracen Mineral Holdings will create a global Top 10 gold producer with a portfolio of producing and prospective projects in Tier 1 Australian and North American jurisdictions and compelling synergies and growth opportunities.

AuSTAR GOLD PROMISES CAUTIOUS CORPORATE STRATEGY AFTER FAILED CENTENNIAL MINING BID

Australian gold miner AuStar has significantly narrowed its full year FY20 net loss despite the extra costs of its ultimately withdrawn attempt to build on its Victorian gold portfolio through a merger with the under-administration Centennial Mining.

CLEVELAND-CLIFFS BUYING ARCELORMITTAL US OPERATIONS FOR $1.4B

Cleveland Cliffs to become N America’s largest flat-rolled steel and iron pellet producer with the $1.4M acquisition of ArcelorMittal’s US operations

AUSTRALIAN RES EARNINGS WEATHER FY20 COVD-19, FY21/22 EXPECTATIONS HIGH

Following record $290B resources/energy earnings in FY20, the Australian Govt is flagging another strong 2-years ahead

WA GOVT MINERAL/PETROLEUM FY20 SALES RECORDS

Record $22B increase in FY20 Western Australia resources sector sales to $172B

RED 5 HEADING FOR MID-TIER GOLD STATUS ON FY 20 $4.5M PROFIT

Despite a fall in FY 20 gold production, Red-5 is heading for mid-tier production status on the back of a $7.53 turnaround to a $4.5M profit. By Mark Mentiplay

GRUYERE PROJECT PARTNERS TRIM PRODUCTION GUIDANCE AFTER MILL BREAKDOWN

Gruyere gold mine partners Gold Fields and Gold Road Resources have trimmed production guidance after the failure of a ball mill motor bearing brought an end to a strong first year of operations at the West Australian mine. John Feary reports

MINCOR TARGETS KAMBALDA NICKEL REVIVAL TO MEET GLOBAL ENERGY DEMAND GROWTH

Australian nickel specialist Mincor Resources is promising an exciting ride for Western Australia’s renowned Kambalda nickel province following board approval to end a five-year shutdown and redevelopment of its Kambalda Nickel Operations.

CALIDUS EARLY WORKS START ADVANCES WARRAWOONA GOLD PROJECT

West Australian developer Calidus Resources has named preferred contractors Macmahon (opencut mining and civil) and GR Engineering (process plant) as it begins construction work ahead of schedule on its Warrawoona gold project in the East Pilbara.

PARAMOUNT FS FLAGS OREGON’S 1st GOLD MINE

New study backs Oregon’s 1st gold mine, Paramount Gold’s $130M underground operation producing 362,000oz gold/425,000oz silver over an initial 8-year LoM

RED 5 TARGETS EARLY 2021 CONSTRUCTION START AFTER POSITIVE KING OF THE HILLS STUDY

Three years after the Philippines government’s anti-mining policies forced it to leave its Siana gold mine, completion of a strong feasibility study at King of the Hills sets Red 5 on track to become a significant mid-tier Australian gold producer. John Feary reports

$70M RAISING TO FUND MALI GOLD MINE ACQUISITION

Lithium aspirant Mali Lithium gets new major shareholder in Resolute Mining as part of a $70M raising to secure 80% of the Morila Gold Mine in Mali and is already talking strategeic partnership. By Mark Mentiplay

FUNDING AND EQUITY ISSUES KILL NEW CENTURY PLAN TO REVIVE VALE’S NEW CALEDONIA MINE

Australian miner New Century Resources rules out a binding offer to acquire and revive Vale’s struggling Goro nickel and cobalt operation in New Caledonia.
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MANDALAY RES: Q3 20 GOLD PRODUCTION UP

 

Toronto, Oct 16

Mandalay Resources has lifted Sept 2020 qtr (Q3 20) gold production from its Australian/Swedish operations to 22,793oz from Q2 20’s 21,603oz, the company’s best qtr since Q4 2017, with antimony up to 991t from 946t.
The result took gold equiv production to 25,664oz AuEq from 24,752oz and AuEq sales to 26,001oz, the highest since Q1 2018.
Sweden’s Björkdal mine saw gold output ease to 11,044oz from 11,250oz, offset by Costerfield, in Australia, up to 11,749oz from 10,353oz.

Mandalay Resources Corporation

Exchange Code: 
TSX:MND
Website: 
http://www.mandalayresources.com

Canadian-based natural resources company focused on the exploration of gold, copper and antimony projects. The company has producing assets in Australia and producing and exploration assets in Chile

 

Mining Brokers

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      DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Oct 25, 2020)

        START THE WEEK: COMMODITIES (Oct 16, 2020)

          START THE WEEK: CALENDAR (Oct 20, 2020)

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