Plus, Chalice set for first results from drilling near rich Fosterville gold mine
It’s been worth the wait to finally hear from Rio Tinto (ASX:RIO) as to what it is on to at its Winu (named after an old soak from an aboriginal word meaning thirsty) copper-gold-silver discovery in Western Australia’s Paterson province.
Plus, Dateline highly-leveraged to impending drilling program at high-grade Colorado gold project
There was good news for the junior mineral sands players in the annual profit report from the mineral sands king of the ASX, Iluka.
The report confirmed Iluka had enjoyed a 41% increase to $US1,351/t in its weighted average zircon price for 2018 while rutile pricing was 21% higher at $US952/t.
Prices are currently higher than last year’s averages, with Iluka lifting its zircon reference price to $US1,580/t from October 1 last year for six months. Iluka said its customers had swallowed it with “positive” feedback, if that were possible.
Plus, strong iron ore price recovery boosts the outlook for Centaurus’ Brazilian iron ore project and Gateway looks to repeat the lucrative strategy of revitalising old WA gold mines
It was suggested here last week that what Breaker Resources’ executive chairman Tom “Colonel” Sanders had to say at this week’s Resources Rising Stars’ conferences in Sydney and Melbourne could be pivotal.
The argument was that having established a 1.1m oz resource at its February 2016 virgin Bombora discovery, 100km east of Kalgoorlie, the pressure was on Sanders to convince the market it was undervaluing the stock in a major way.
Plus, Orion shaping up as a substantial base metals play
A special thanks to Rio Tinto’s iron ore boss Chris Salisbury for providing a much-needed laugh for the exploration industry in what has been a tough year.
Speaking at the recent St Barbara’s Day memorial lunch put on by the WA Mining Club, the 30-year Rio veteran solemnly declared that the mining industry has a trust problem.
"In an industry that is built on the goodwill and trust of governments and communities, we need to positively engage with our neighbours and the broader community to tell our story better," he said.