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Australian lithium miner Altura Mining has fallen into administration after a failing struggle to restructure its balance sheet in the face of weak markets and the slow ramp-up of its Pilgangoora project in WA’s Pilbara region.
The appointment of administrators Cor Cordis by first ranking secured creditor BNY Trust Co came after receiver and managers KordaMentha took control of the Perth-based company.
KordaMentha’...
The Richmond-Julia Creek project in NW Queensland, Australia has demonstrated the potential for a world-class oxide vanadium development able to meet the increasing demand from the steel and emerging battery storage markets for upwards of 100 years.
A prefeasibility study by Horizon Minerals and joint venture partner Richmond Vanadium Technology has supported the quality and viability of a shallow openpit development of...
JV partners Horizon Minerals and privateer Richmond Vanadium Technology are reviewing costs and timing for a DFS following the completion of a positive prefeasibility study for their Richmond-Julia Creek vanadium project in NW Queensland, Australia.
The PFS outlines a $US157.4M capital development designed to produce 790,000tpa concentrate delivering 12,700tpa of 98% V2O5 flake at operating costs of $5.53/lb over an...
Australian miner Evolution has continued its strong cash-generation performance with the posting of mine operating cash-flow of $A272.3M for the Sept qtr (Q1FY21), following up from the record $352M in the previous period.
With gold production of 170,021oz at AISC of $1,198/oz, down from Q4FY20’s 218,104oz at $1,088/oz but excluding its divested Cracow project, Evolution reported met mine cash-flow of $183.4M ($736/oz) driven by record...
With its “mega-merger” with Kalgoorlie Super Pit partner Saracen Mineral Holdings scheduled for completion in early 2021, Northern Star Resources is predicting strong improvements in its production and costs performance over the next three years.
NST posted Sept qtr (Q1FY21) group gold recovery of 231,594oz, down from 267,361oz in the previous period, at AISC of $A1,544/oz (Q4FY20: $1,361/oz).
Gold sales were at the upper end of...
Australian miner Ramelius Resources has lifted its cash and gold at an all-time high of $A221.9M, up from $185.5M previously, after posting AISC of $A1,240/oz for its Sept qtr (Q1FY21) gold production of 71,344oz, beating its guidance of $1,250-1,350/oz. The result compares with the June qtr’s 86,517oz at $1,041/oz.
Gold sales of 70,299oz at $2,323/oz (Q4FY20: 89,345oz at $2,223/oz) delivered total revenue of $163.3M ($198.6M).
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West Australian miner Gascoyne Resources has maintained full year production guidance at its Dalgaranga gold mine in the Murchison region at 70,000-80,000oz at AISC of $A1,200-1,300/oz after emerging from administration last week.
Dalgaranga's cost performance improved in the Sept qtr (Q1FY21), delivering its 20,314oz production at $1,409/oz - compared to 20,550oz at $1,554/oz in the previous period. Q1 grade was a record 1.06g/t and...
North American explorer Phoenix Copper is working on an updated preliminary economic assessment of its 80%-owned Empire openpit mine in Idaho, USA after updating its NI 43-101 measured and indicated resource by 19% to 22.9Mt at 0.75% copper equivalent for contained metal content of 238,406oz gold, 7.59Moz silver, 87,543t copper and 43,871t zinc.
CEO Ryan McDermott says the increased resource equates to...
African-focused miner Hummingbird Resources has maintained FY2020 production guidance of 110,000-125,000oz at its Yanfolila gold project in Mali as it heads into the dry season with Sept qtr (Q3) output of 24,722oz, from 24,054oz in the previous period.
Costs performance was hit by extreme rainfall, COVID-19 restrictions and a temporary border closure due to Mali’s coup, lifting Q3 AISC to $US1,283/oz (Q2: $983/oz). Hummingbird says its...