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Anglo Asian's Azerbaijan gold output rises 47% in Q3
Published: 16 Oct 18
Anglo Asian Mining's gold output rose 47% in the third quarter, the London-listed company said on Monday, adding that full-year production would be at the top end of its current guidance. Azerbaijan's leading gold mining firm said it produced 21 318 oz of the metal in the last quarter, against 14 468 oz in the same period of last year.
James Cameron joins Petropavlovsk board
Published: 15 Oct 18
US lawyer James Cameron and UrAmerica chairperson Damien Hackett have joined the board of Russian gold miner Petropavlovsk as independent nonexecutive directors with immediate effect. Cameron is well known in business circles in California as a successful entrepreneur and investor and has had wide experience in Russia over the past quarter-century, including as an adviser to gold-mining projects in the Far East of the country.
Polymetal to outperform 2018 production and cost guidance
Published: 15 Oct 18
Russian miner Polymetal expects to exceed its 2018 production guidance of 1.55-million ounces of gold equivalent by up to 50 000 oz, on the back of the successful ramp-up of the Kyzyl mine. The company produced 1.07-million ounces of gold equivalent in the first nine months of the year, 447 000 oz of which was booked in the September quarter.
CER attorneys to address MPs on new coal in the IRP
Published: 15 Oct 18
Attorneys from the Centre for Environmental Rights (CER) plan to, on Tuesday, tell Members of Parliament (MPs) that an Integrated Resource Plan for Electricity (IRP) that provides for expensive new coal-fired power, at a time when South Africa needs to be urgently transitioning away from "harmful" coal, would be in conflict with the Constitution. "This means that an IRP that irrationally includes expensive new coal could be held up by court challenges for years to come," the CER said in a statement published on Monday.
Bunker Hill lease terminated
Published: 15 Oct 18
Toronto-headquartered Bunker Hill Mining on Monday confirmed that the lease with option to purchase agreement for the Bunker Hill mine had been terminated, owing to a missed property payment. The CSE-listed company warned earlier this month that it was in default of its lease agreement with Placer Mining Corporateion, after it missed payments totalling $400 000.
Galileo hits high zinc mineralisation in Phase 2 drilling programme
Published: 15 Oct 18
Aim-listed Galileo Resources has completed its Phase 2 diamond drilling programme and reported positive assay results so far for the first eight holes analysed, at its 80.75%-owned Star Zinc project, in Zambia. Phase 2 comprised 24 holes totalling about 1 000 m to depths, from surface, of between 25 m and 105 m downhole.
Polymetal obtains controlling stake in noncore Veduga
Published: 15 Oct 18
Gold miner Polymetal International has obtained a controlling interest in the Veduga deposit in Russia’s Northern Yenisey belt, opening the door for “multiple strategic options” for the noncore asset. The miner has agreed to increase its stake in the Veduga deposit to 74.3% through the acquisition of a 31.7% stake in licence holder Amikan for $19.7-million worth of shares.
Consultants confirm at least 1Moz potential at Cora Gold’s Mali prospect
Published: 15 Oct 18
A report compiled by SRK Consulting has confirmed that gold explorer Cora Gold’s Sanankoro project, in Mali, has the potential to delineate between one-million and two-million ounces of gold to a depth of 100 m, also indicating the potential for significant further upside at depth. SRK derived an initial exploration target of between 30-million and 50-million tonnes of gold ore at a grade of between 1 g/t and 1.3 g/t gold.
Orion expects updated Prieska resource estimate by mid-December, BFS by Q2 2019
Published: 15 Oct 18
ASX- and JSE-listed Orion Minerals will publish an updated resource estimate for its Prieska zinc/copper project, in the Areachap Belt in South Africa’s Northern Cape province, in mid-December, which will underpin a bankable feasibility study (BFS) that is set for completion in the second quarter 2019. The Prieska deep sulphide drill-out programme has been completed, with 85 424 m drilled since May 2017. At times during the drilling programme, up to 18 surface diamond drill rigs were deployed at once.
Cradle Arc’s Thakadu mining licence extended to May 2020
Published: 15 Oct 18
Aim-listed copper and gold miner Cradle Arc has been granted an extension on its mining licence by the Botswana Ministry of Mineral Resources, Green Technology and Energy Security. The licence is now valid until May 31, 2020, and covers 28.5 km2, which includes the Thakadu openpit and adjacent Makala underground deposit – these are about 70 km southeast of the company’s flagship Mowana copper mine.
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