News

Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project

Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project in Tanzania following an extensive six-month due diligence process (reports MiningNews). The terms sheet for the five-year credit facility will meet a considerable amount of the project's capital requirements now estimated at $35 million, with Strandline describing the terms as "favourable". The pair is now working to finalise all conditions precedent, which will allow for the first draw-down.

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A recovery could also see the next generation of graphite producers such as Battery Minerals and Kibaran spring to life. Plus, pending BFS could re-rate Orion shares

Leading graphite stock Syrah Resources (SYR) has been beaten up something shocking ever since it turned on its Balama operation in Mozambique. The fall from grace – it’s down from $2.80 a year ago to $1.07 this week – has a lot to do with teething problems at the concentrate processing plant. But the real issue is that the $US1, 000/t average price for Balama concentrates forecast in the May 2015 feasibility study has proved to be complete nonsense.

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Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war

Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war and adjusting portfolios ahead the end of the financial year. So much negative sentiment might reasonably have been expected to have helped gold stocks move up further than they did, especially given the strong flow of funds into physical gold and exchange-traded funds.

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Pilbara Minerals boss Ken Brinsden says the jury is still out as to whether the company will build a downstream processing plant in WA

Pilbara Minerals boss Ken Brinsden says the jury is still out as to whether the company will build a downstream processing plant in WA as part of a proposed joint venture agreement over its Pilgangoora lithium-tantalum project near Port Hedland (reports The West Australian).

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Bardoc Gold’s new CEO, Robert Ryan, says the company is optimistic it can get into production next year

Bardoc Gold’s new CEO, Robert Ryan, says the company is optimistic it can get into production next year and avoid the pitfalls that have plagued the local gold patch in recent times (reports MiningNews). Western Australia's Goldfields is littered with tales of collapse or underperformance, from Eastern Goldfields and Gascoyne Resources, Blackham Resources to Dacian Gold, and tiny Coolgardie Minerals (which went from listing through mining and administration within six months.

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Lucapa Diamond Company boss Stephen Wetherall knew he was in the den of gold investors when he took to the stage at last week’s Resources Rising Stars conference

Lucapa Diamond Company boss Stephen Wetherall knew he was in the den of gold investors when he took to the stage at last week’s Resources Rising Stars conference on the Gold Coast (reports Barry FitzGerald on Stockhead). So to give the punters a feel of how the high quality diamonds produced by Lucapa from its two African mines out shine gold on a value-for-weight basis, Wetherall did some conversion work for them. He noted that the 12,500 carats of diamonds in the last two sales from Lucapa’s mines fetched $20m.

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Northern Star Resources has appointed two new directors to its board (reports MiningNews). Mary Hackett and Nick Cernotta will join the board as non-executive directors from July 1. Hackett is a mechanical engineer and experienced oil and gas executive, having spent 17 years at Woodside Petroleum. She was most recently vice president, Australia, New Zealand and PNG at Baker Hughes. Cernotta is a mining engineer and former Fortescue Metals Group director of operations.

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Kibaran Resources has flagged plans for a $US23 million ($33 million) graphite-processing plant at Kwinana representing another lift to the area’s growing reputation as Australia’s Lithium Valley (reports The West Australian). The West Perth-based aspiring graphite producer yesterday announced it had secured a 4ha site for the plant 30km south of Perth as part of a broader strategy of becoming a multi-hub producer of battery-grade graphite, with similar facilities planned for Asia and Europe.

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Upcoming Events

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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