Rio Tinto’s rumoured copper discovery in a remote corner of Western Australia could trigger a fresh exploration rush and rewrite global geological opinion about the state’s exploration potential (reports The Australian).
Lithium producer Pilbara Minerals says the willingness of customers to stump up finance for the $231 million expansion of its Pilgangoora mine underscores the strong medium and long-term fundamentals of the sector (reports The Australian).
After a transformational period, in which Red 5 has gone from a troubled Filipino gold player to a mid-tier Aussie gold producer, managing director Mark Williams told the annual general meeting that the company had two mines keeping its mill fed and funding the revitalisation of two giants of Western Australia’s Goldfields (reports MiningNews).
It's been around 12 months since the company secured the Darlot mine, which has just passed 30 years of continuous production, and the mothballed King of the Hills open-pit to the south.
Spitfire Materials (ASX: SPI), which is about to change its name Bardoc Gold Limited, now has the combined asset base, team, corporate backing and shareholder support to fast-track development of its newly-consolidated 2.6Moz gold project in WA, according to veteran resource analyst Gavin Wendt.
Writing in his widely-circulated Minelife Resource Bulletin, Wendt says the company has undergone a “major corporate rejuvenation” following the appointment of former key Pilbara Minerals (ASX: PLS) executives Neil Biddle and John Young last year.
Strategic metals developer TNG (ASX: TNG) has secured the mineral leases for its wholly-owned flagship Mount Peake vanadium-titanium-iron project in the Northern Territory, with this latest milestone clearing the way for the company to pursue project development financing (reports the Small Caps investor news service).
The mineral leases cover where the Mount Peake open pit mine will be located, as well as associated infrastructure including processing plant, camp site and rail loading facilities, Small Caps reports.
Pilbara gold play Kairos Minerals has found two new gold nugget patches that have yielded another 135 nuggets at its Croydon project (reports Stockhead).
They weighed in at 11.1 ounces and investors loved the news, sending shares up nearly 30 per cent to an intra-day high of 3.1c on Tuesday morning.
The new nugget patches take Kairos’ total discoveries to 391 nuggets with a combined weight of 19.3 ounces.
That is worth roughly $32,389 at the current gold price.
The combined market value of Australia’s mid-tier miners has powered ahead for the second consecutive year (reports MiningNews).
PwC's 12th annual Aussie Mine report, which analyses the 50 largest ASX-listed miners valued at less than A$5 billion, found that the value of the group jumped 28% to $58.7 billion.
All but three of the group - AngloGold Ashanti, OceanaGold Corp and Tribune Mining - saw their market capitalisations grow over the 2018 financial year.