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West Australian explorer Overland has terminated the deal with Westgold Resources to acquire the historic Trojan gold mine 55km SE of Kalgoorlie, citing its dilutive effect on shareholders.
Overland secured an option in Dec 2016 to acquire 100% of the project for $A100,000 cash or shares, spend $250,000 on the project, agree to toll-treat project ores at Westgold's Jubilee plant and pay a $25/oz royalty.
It says it will focus instead on exploration at its recently acquired Yandal...
New silver producer Moreton says it's on track for full production by end-Jan after finalising its first batch of silver concentrate at its Granite Belt project in SE Qld, Australia.
The 784kg batch generated from commissioning of the refurbished former Twin Hills mine is due to be shipped in the coming week to MRV's smelting and refining partner Siltech PMR in Melbourne.
The new chairman of BHP, the world’s biggest miner, has thrown his weight behind his CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie’s tenure is imminent, Reuters reports.
Pressure has mounted on BHP and its CEO since Elliott went public in April with its criticisms of the miner’s strategy.
“Any suggestion there is a set timeline around Andrew’s tenure is simply false and...
Gold equivalent production from Klondex Mines’ US and Canadian operations has plunged from the record 66,618oz heights of the June 2017 qtr (Q2 17) to 40,818oz AuEq in the Sept 2017 qtr (Q3 17), with sales following down to 38,012oz AuEq from 69,5211oz,
The result was on 54,166oz AuEq mined from the previous qtr’s vs 53,248oz, in-line with company expectations. Despite the falls, Klondex says it’s on track for FY/CY17 production of 213,...
Mill maintenance costing 250t of nickel concentrate production has helped to push Sept 2017 qtr (Q1 18) nickel production from Western Areas’ Forrestania Project in Western Australia down to 5,855t from the previous qtr’s 5,994t, with nickel-in-conc cash costs up to $A2.49/lb ($US1.97lb) from $2.42lb ($US1.82lb) and tracking the low end of FY18 guidance.
Nickel-in-conc mill production fell to 5,338t from 5,726t, with sales also down 5,...
West Australian explorer Anova has moved quickly to begin development of the Second Fortune gold mine 220km N of Kalgoorlie following the completion of its takeover of Exterra Resources this month.
Anova has named local private contractor GBF as preferred contractor, mobilising late Nov to begin production of 56,600oz at total C3 cash cost of $A1,016/oz over a mine life of 2.5 years.
It says site works and openpit dewatering are near completion, with pumps in place to begin...
Tawana Resources has secured $A25M funding to fully fund the Bald Hill Lithium-Tantalum Mine in Western Australia to production in Q1 2018 and through to 1st lithium product sales.
The package comprises $20M equity and a $5M loan from German company Weier Antriebe und Energietechnik, a 100%-owned subsidiary of lithium industry listed specialist Jiangte Special Electric Motor Co. The placement was at $0....
Iron ore miner Atlas Iron became cash positive in the Sept 2017 qtr (Q1 18) as shipments from its Pilbara, Western Australia, operations eased to 3M wmt from the previous qtr’s 3.1M wmt, with C1 cash costs up $A1 to $37wmt FOB and full cash costs up $3 to $55wmt CFR.
The cost increases were down to higher haulage costs as a result of the higher part of volume coming from Mt Webber and its increased distance from port, and an increase in...
The late 2016 acquisition of the Australian east coast coal services business of under-administration company Hughes Drilling has helped deliver $A57M in new coal drilling contracts for Action Drill & Blast.
The specialist subsidiary of mining and civil contractor NRW paid $A11M for the Queensland-based operations, making it Australia's largest integrated drilling and blasting contractor.
The new awards and contract extensions cover drilling services for Idemitsu Australia...