News

Timing is everything in the mining business – and it seems Alaskan copper-gold explorer PolarX is about to make its run just as investor interest in its end of the market hits fever pitch.

Timing is everything in the mining business – and it seems Alaskan copper-gold explorer PolarX is about to make its run just as investor interest in its end of the market hits fever pitch. After waiting months for the snow to melt, PolarX is now preparing to resume drilling at its Zackly deposit, where the resource already stands at 3.4 million tonnes grading 1.2 per cent copper and 2gpt gold.

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The Ian Gandel-led sharemarket star is now onto a high-grade pod at its Boda porphyry in NSW while Tomingley looks set for a new lease on life and the rare earths project is about to be set free. Plus, Genesis on the fast-track to being a producer

Ian Gandel has long been an enthusiastic supporter of the Aussie mining and exploration industry. It has been nice to see then that his 23.5%-owned Alkane (ALK) where he is chairman has been a star performer of late, rising from 38c in September last year to this week’s $1.24, making for a $685 million company. It was last September that Alkane made its Boda gold-copper porphyry discovery in the northern Molong volcanic belt of NSW’s Macquarie Arc. After a half dozen or so serious follow-up holes since, Boda has been confirmed as something special.

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One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment

One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment as iron ore started its inevitable decline after a spectacular 12-months to be replaced by strong demand and higher prices for copper, nickel and gold. The flip will not be immediate or universal but the trend is there for anyone to see, once you get past the latest outbreak of Covid-19 panic in the US and other parts of the world, including Australia’s own problem State, Victoria.

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Shares in Bellevue Gold hit fresh highs after the company reported “exceptionally strong” results from metallurgical testwork (reports MiningNews).

Shares in Bellevue Gold hit fresh highs after the company reported “exceptionally strong” results from metallurgical testwork (reports MiningNews). The testwork, on ore from the Bellevue project near Leinster, generated recoveries averaging 97.8% across the multiple lodes using conventional gravity and leaching processes and standard reagents. Gravity-only recoveries ranged from 72.6% to 91.7%. The company said the results were in line with historical recoveries from Bellevue, which averaged about 96% while in production between 1988 and 1996.

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Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews)

Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews). The company had entered into an agreement with A&C Mining and Yijun Zhu to acquire Kookynie, which has a resource of 8.53Mt at 1.5 grams per tonne gold for 414,000 ounces of gold.

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Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”

Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”, with very keenly awaited drilling assays expected over the next 2-4 weeks (reports MiningNews). Deep holes at the Trundle Park and Mordialloc have both given the company and its Canada-listed partner Kincora Copper strong encouragement, with the latter prospect reportedly particularly promising.

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The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian).

The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian). Warrawoona, which lies 20km south of Marble Bar, will include two open pits and one underground mine, a waste rock dump and tailings dam within a 1000ha development envelope.

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Firefly Resources (ASX: FFR) is the latest junior to up its gold exposure after revealing it is acquiring the Yalgoo gold project in Western Australia’s Murchison region (reports Small Caps).

Firefly Resources (ASX: FFR) is the latest junior to up its gold exposure after revealing it is acquiring the Yalgoo gold project in Western Australia’s Murchison region (reports Small Caps). The company is acquiring the project by purchasing private entity Aurum Minerals for $2.91 million-worth of Firefly shares. To fund exploration, which will begin as soon as permitting allows, Firefly will raise up to $2.3 million.

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11th Aug 2020

Investor webinar featuring Auteco Minerals, Anglo Australian Resources, Firefly Resources & Trigg Mining

Join us for our next investor webinar on Tuesday, 11 August 2020 featuring Auteco Minerals, Anglo Australian Resources, Firefly Resources & Trigg Mining.

10th - 11th Nov 2020

Gold Coast Conference

With increasing global uncertainty regarding the outbreak of COVID-19 and in light of the latest advice from the Australian Government, including an indefinite ban on large indoor gatherings and in

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