Terramin acquires gold project in S Australia
PERTH (miningweekly.com) – Junior Terramin Australia has signed an agreement with fellow-listed Maximus Resources to acquire the Bird-in-Hand gold project, and a portfolio of exploration tenements, in South Australia.
The Bird-in-Hand project is located around 30 km from Terramin’s existing mining and processing facilities at the Angas zinc mine, and has a resource of some 598 000 t, at 12.3 g/t gold, for 237 000 oz of gold
CEO Martin Janes told shareholders on Friday that subject to regulatory approvals, the Bird-in-Hand ore would be processed using the Angas facilities, which could be modified to process gold ore.
The existing tailings dam at Angas also had the capacity to hold all the Bird-in-Hand tailings.
“Terramin’s experience operating in the Adelaide Hills places it in a good position to successfully operate the Bird-in-Hand gold project. It is our intention to work with the local community to ensure the best outcome to promote regional benefit with minimal impact,” said Janes.
Under the terms of the agreement, Terramin would pay Maximus some A$3.5-million in cash, as well as 25-million shares and a 0.5% royalty on future gold production.
Maximus said on Friday that the proceeds from the sale would allow the company to continue to focus on its existing base metals and gold exploration programmes, as well as place the company in a position to assess new opportunities at an appropriate time.
The company would retain three tenements in the Adelaide Hills which were prospective for gold, and would also continue to pursue joint venture (JV) opportunities to restart exploration on the Billa Kalina tenements, also in South Australia.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
