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Eldorado Gold aims for 500 000 oz next year

By: Mariaan Webb     22nd February 2019 Canada-headquartered Eldorado Gold is well positioned to grow its yearly production to more than half-a-million ounces next year, supported by the restart of mining and heap leaching at Kisladag and continuing the momentum of Lamaque. The company grew its production to 349 147 oz of gold in... 

Bellevue raises A$20m for namesake project

By: Esmarie Iannucci     22nd February 2019 ASX-listed Bellevue Gold was hoping to raise A$20-million through a share placement to sophisticated and institutional investors. The company said it would place some 37-million shares, at a price of 55c each to raise the cash, which will be used to advance the Bellevue gold project, in Western... 

Resources Watch  

21st February 2019 DRDGold says Eskom grid upkeep increasingly problematic; Harmony is exploring Target North and Kalgold; and, Harmony cuts energy consumption, ushering in solar, mulling biofuels 

Guyana Goldfields resumes underground exploration decline construction

By: Creamer Media Reporter      20th February 2019 TSX-listed Guyana Goldfields has resumed construction and development work on an underground exploration decline at its Aurora gold mine, following environmental authorisation from the Guyanese Environmental Protection Agency (EPA). The mine, which has been in commercial operation as an openpit... 

Pan African H1 revenue up 52.8% y/y to R1.3bn  

By: Nadine James     20th February 2019 Gold miner Pan African Resources achieved a 52.8% year-on-year increase in revenue for the six months to December 31, 2018, to R1.3-billion. CEO Cobus Loots on Wednesday attributed the higher revenue to an increase in gold production, which rose by 54.2% year-on-year to 81 014 oz on the back of... 

Makhanda water crisis: Fresh hope as Gift of the Givers strikes water

By: News24Wire      20th February 2019 Makana municipality in the Eastern Cape has declared all its water, except in Riebeek East, free from E. coli as the Gift of the Givers rejoices over the quick discovery of underground water in Makhanda (formerly Grahamstown) that could help the troubled region pull through its water crisis soon.... 

India relooks revenue sharing contracts for auction of oil, gas blocks

By: Ajoy K Das     19th February 2019 The Indian government is having second thoughts over continuing with revenue sharing agreements in contracts with successful bidders at auction of oil and natural gas fields. While no decision has been taken yet, a section within the government is backing reverting to an earlier regime... 

Arc raises £2.2m for Zambia copper project

By: Creamer Media Reporter      19th February 2019 Aim-listed Arc Resources has raised £2.2-million through the placing of 73.6-million units at 3p each. Proceeds of the placing will be used to fund the continuing exploration and development work on the company's Zamsort copper project, in Zambia, and for general working capital purposes. 

M&R expects significant improvement in interim HEPS

By: Nadine James     19th February 2019 JSE-listed engineering group Murray & Roberts (M&R) expects a significant improvement in total earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31. Basic EPS for the period are expected to increase by between 57% and 75% year-on-year to between 44c... 

Far discovers new pegmatite dykes at Manitoba project

By: Creamer Media Reporter      19th February 2019 Canadian junior Far Resources has discovered five new pegmatite dykes at its Zoro lithium project, near Snow Lake, in Manitoba. This brings the total number of mineralised pegmatites discovered so far at Zoro to 13, covering at least a third of the 3 005 ha property. Each of the five new dykes... 

Armadale signs MoU with potential buyer of Mahenge Liandu graphite

By: Nadine James     19th February 2019 Aim-listed Africa-focused mining investment company Armadale Capital has signed a memorandum of understanding (MoU) for a proposed offtake agreement with Chinese graphite mining and processing company Matrass Group, for graphite products produced at Armadale’s Mahenge Liandu project, in Tanzania.... 

Senex output continues to grow

By: Esmarie Iannucci     19th February 2019 ASX-listed Senex Energy has swung back into black during the six months ending December, after reporting an underlying net profit of A$1.4-million, compared with an underlying net loss of A$2.8-million after tax, compared with the first half of 2018. Production was up 49% over the same period,... 

High-flying Amplats sets ‘next wave of strategy’ in motion 

By: Martin Creamer     18th February 2019 Anglo American Platinum (Amplats), which shot the lights out with a set of stupendous cash-splurging, debt-negating, high-dividend-yielding 2018 results, on Monday set its “next new wave of strategy” in motion, which involves extracting the full potential from its operations through people and... 

Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

Intensification drilling under way at Botswana Diamonds’ Thorny River

By: Tasneem Bulbulia     18th February 2019 Aim- and BSE-listed exploration company Botswana Diamonds has started with the planned intensification drilling on its Thorny River prospect in South Africa, with the first four holes having intersected diamonds at predicted thicknesses and depths.  The programme, which comprises the drilling of... 

Centamin announces significant resource increase at Côte d'Ivoire projects

By: Simone Liedtke     15th February 2019 A 120 000 m drill programme in 2018 across dual-listed Centamin’s wholly-owned landholdings in Côte d'Ivoire, has resulted in an increase of more than 100% in mineral resources, the company announced on Friday. A maiden resource has been declared at the ABC project, on the west side of the... 

Brucejack to ramp up to 3 800 t/d this year

By: Simone Liedtke     15th February 2019 In its first full year of production, dual-listed Pretium Resources has generated almost $200-million in cash from operations, while producing 376 012 oz of gold, president and CEO Joseph Ovsenek reported on Thursday. The intermediate gold producer’s all-in sustaining costs (AISC) for the second... 

Gift of the Givers given green light to drill boreholes in water-scarce Makhanda

By: News24Wire      15th February 2019 The Makana municipality has given the green light to disaster relief organisation Gift of the Givers to start drilling boreholes as a medium-term solution to the Makhanda (formerly Grahamstown) water crisis. The town has been without water for the better part of February. 

Premier agrees to amended terms for KME acquisition, welcomes Ministry’s financial assistance

By: Simone Liedtke     14th February 2019 The board of Aim-listed Premier African Minerals has agreed to amended terms with KME Holdings for the proposed acquisition of KME’s assets and has, in addition, agreed to terms for the acquisition of 50% of the equity in the Zimbabwe-based near-term gold producer Honey Badger Resources (HBR).... 

Robot Kamaz is opening its computer vision eyes

14th February 2019 VIST Group (subsidiary of ZYFRA Group) mutually with Nazarbayev University and KAMAZ launched a robotized towing truck project. A fifth-wheel towing truck Kamaz Neo will be equipped with computer vision systems that will allow it to detect a range of objects like people, animals, traffic... 

Barrick advancing autonomous gold production – Bristow 

By: Martin Creamer     14th February 2019 Autonomous production systems and projects are being advanced across Barrick Gold as the group focuses on boosting mining efficiency, new Barrick president and CEO Dr Mark Bristow tells Mining Weekly Online. This is part of an all-out drive by Bristow to ensure that Barrick, into which Randgold... 

Carnarvon raises A$50m

By: Esmarie Iannucci     14th February 2019 ASX-listed Carnarvon Petroleum will raise A$50-million through a placement to institutional and sophisticated investors to fund appraisal and exploration activities in the North West Shelf. The company will issue some 151.6-million new shares, at an issue price of 33c a share to sophisticated... 

Liontown raises cash for lithium plays

By: Esmarie Iannucci     14th February 2019 Lithium hopeful Liontown Resources was hoping to raise up to A$7.9-million through a share placement to fast-track exploration and development activities at its Austarlian lithium projects. The ASX-listed company on Thursday said that it would undertake a one-for-five non-renounceable pro-rata... 

Myanmar increases resource confidence at Bawdwin

By: Esmarie Iannucci     13th February 2019 ASX-listed Myanmar Metals has reported a 50% increase in the indicated resource estimate for its Bawdwin polymetallic mine, in Myanmar, which is now estimated to host the world’s largest primary lead resource. The indicated mineral resource has now been estimated at 37.2-million tonnes, at 4.3%... 

Total Announces Ground-breaking Oil Discovery 175km Off the Southern Coast of South Africa

By: Creamer Media Reporter      13th February 2019 The recent gas condensate discovery by Total South Africa, 175km off the southern coast of South Africa, has set the stage for a significant contribution to the nation’s economic development as it will assist in reducing dependency on imports of oil and gas, notwithstanding the considerable... 

Beach more than doubles H1 revenues

By: Esmarie Iannucci     13th February 2019 Oil and gas producer Beach Energy has reported a 147% increase in sales revenue for the first half of 2019, and a 199% increase in underlying net profits after tax. The ASX-listed company on Wednesday announced that sales revenue for the six months to December had reached A$955-million as... 

Harmony exploring Target North, Kalgold 

By: Martin Creamer     12th February 2019 Harmony Gold is currently adjudicating a tender for the drilling of the Target North greenfield exploration project in the Free State and is engaged in near mine brownfield exploration at Kalgold in the North West. Harmony Gold CEO Peter Steenkamp on Tuesday described the Target North prospect as... 

Probe drilling confirms Val-d’Or expansion, new discoveries

By: Simone Liedtke     12th February 2019 Canadian gold exploration company Probe Metals on Tuesday reported new results from the 2018 drill programme on the Val-d’Or East Courvan property area, in Quebec, which identified both new discoveries, as well as confirmed significant expansion of previous discoveries north and west of the... 

NAP defines new exploration targets at Lac des Iles

By: Tasneem Bulbulia     12th February 2019 Recent exploration at North American Palladium’s Lac des Iles Mine (LDI) property, located 90 km north of Thunder Bay, Ontario, has defined seven underground targets in the southern part of the deposit and several discrete near-surface exploration targets, all of which are expected to be drilled... 

Snake Well sale completed

By: Esmarie Iannucci     12th February 2019 ASX-listed junior Kalamazoo Resources has completed the A$7-million sale of its Snake Well gold project, in Western Australia. The company in November of last year reached an agreement with privately-held Adaman Resources to divest of the project, while maintaining a 2.5% net smelter royalty on... 

Semafo mulls Savary Gold shares purchase

By: Simone Liedtke     11th February 2019 TSX-listed gold miner Semafo and TSX-V-listed Savary Gold have entered into a nonbinding letter of intent (LoI) contemplating the acquisition by Semafo of all the outstanding common shares of Savary. Under the terms of the LoI, all the issued and outstanding Savary shares will be exchanged on the... 

Better techniques are making a big difference in drilling and blasting, says MAXAM

By: Kim Cloete     8th February 2019 Advanced technologies in mining explosives are making major inroads in the mining industry. This was highlighted by MAXAM, a global technological leader specialising in the design, development, manufacture and application of energetic solutions, at the Investing in African Mining Indaba, in Cape... 

Wallbridge reports positive results from Fenelon bulk sample

By: Creamer Media Reporter      8th February 2019 TSX-listed Wallbridge Mining reported on Thursday that it has produced and sold more than 13 300 oz of gold from the 35 000 t bulk sample under way at its Fenelon gold project, in Quebec. To date, about 25 000 t of ore with a reconciled average grade of 17.34 g/t gold containing more than 14 000... 

Indiana looks at Mali JV with Altus

By: Esmarie Iannucci     8th February 2019 Junior Indiana Resources has signed a nonbinding term sheet to form a joint venture (JV) with Aim- and TSX-listed Altus Strategies for exploration licences in the Mali gold belt. Under the terms of the agreement, Indiana could earn an 85% interest in the Lakanfla and Tabakarole gold projects, in... 

Polymetal reports sizeable increase in Mayskoye gold reserve

By: Creamer Media Reporter      7th February 2019 Russian miner Polymetal has announced a 778 000 oz increase in the ore reserves at its Mayskoye gold deposit, which adds five years to the operation’s mine life. The updated Joint Ore Reserve Committee-compliant reserves comprise ten-million tonnes of ore with an average grade of 6.9 g/t... 

Indiana Resources enters into JV with Altus for majority stake in Mali gold projects

By: Nadine James     7th February 2019 Aim-listed exploration company Altus Strategies on Thursday announced that it has signed a nonbinding term sheet for a joint venture (JV) with ASX-listed Indiana Resources. Subject to entering into a definitive agreement with Altus, Indiana will have the option to earn up to an 85% interest in... 

Nordgold’s new Lefa mining permit effective from March 21

By: Nadine James     7th February 2019 Aim-listed gold producer Nordgold announced on Thursday that a new mining permit for its Lefa mine – one of Guinea’s largest gold producing mines – will be effective from March 21. The permit, as well as the convention that was renewed last year, were extended for 15 years, in line with Lefa’s... 

Total makes significant discovery off South Africa’s southern coast

By: Nadine James     7th February 2019 Petroleum company Total has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, the company announced on Thursday. Located 175 km off the southern coast of South Africa, the Brulpadda well encountered 57 m of net gas condensate... 

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