News - Market Insights

Kairos Minerals (ASX: KAI) is anticipating a “vast” amount of drill results in the coming weeks with drilling now complete at the Kangan project near De Grey Mining’s (ASX: DEG) 6.8 million ounce gold Hemi discovery (reports Small Caps).

Located in Western Australia’s Pilbara region and 20km south of Hemi, Kairos undertook 133 holes of aircore drilling at Kangan for 5,454m.

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Pilbara Minerals says it is shifting its focus to sell more concentrate into the emerging spot market in response to rising demand from customers, saying it is seeing better prices on the open market than from contract buyers (reports The Australian)

The company said on Wednesday it shipped 95,972 tonnes of lithium concentrate in the June quarter, up from 71.229 tonnes in the previous quarter. Its Pilbara lithium operations produced 77,162 tonnes, marginally down on the previous period.

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With focus now firmly on its Western Australian gold assets, Red 5 has signed a binding agreement to sell its mothballed Siana gold mine and nearby Mapawa project in the Philippines, after almost 20 years of often troubled ownership (report Mining News)

The company will pocket US$19 million cash from the sale, plus the buyer TVI Pacific will pay out a 3.25% net smelter return royalty on production of up to 619,000 ounces. Red 5 estimates that could see it bank a further $36 million, assuming a gold price of $1800/oz.

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It’s early days for Kimberley rare earths player Rarex but a 47 per cent resource upgrade at its Cummins Range project near Halls Creek this week provides a firm base on which it can build (reports The West Australian).

On Monday, the John Young-chaired company unveiled a resource of 18.8Mt at 1.15 per cent total rare earths oxide with some 60 per cent in the indicated category. The resource includes a high-grade zone of 6.5Mt at nearly 2 per cent TREO.

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Junior explorer Trigg Mining has announced a maiden indicated mineral resource estimate for its high-grade Lake Throssell potash project in Western Australia’s northern goldfields region (reports Small Caps).

A drainable resource of 1.9 million tonnes sulphate of potash (SOP) at 4,985 milligrams per litre potassium (or 11.1 kilograms per cubic metre potassium sulphate) has been estimated based on results of recent trench pump trials

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Australian resource and mineral processing technology company TNG (ASX: TNG) has completed a front-end engineering and design (FEED) study for its wholly-owned Mount Peake vanadium-titanium-iron project in the Northern Territory (reports Small Caps).

The company’s in-house engineering team is now reviewing a front-end loading (FEL-3) report delivered in March

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Northern Star Resources has appointed long-time CEO Stuart Tonkin as managing director from today (reports MiningNews).

As envisaged under the October 2020 merger of Northern Star and Saracen, Raleigh Finlayson will transition from MD to executive director for two months, then retire from the board. Finlayson will take six months to spend time with his family and complete an advanced management program at Harvard University. He will then re-join the Northern Star board on April 4, 2022, as a non-executive director. "I'll re-join the board refreshed and re-energised with hopefully some new skills to support Stu," Finlayson said this morning.

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Sandfire Resources has boosted the resource for its A4 satellite deposit, part of the Motheo copper project in Botswana (reports The West Australian).

A4 now has an indicated and inferred resource of 9.8 million tonnes at 1.4% copper and 21 grams per tonne silver for 134,000 tonnes of copper and 6.6 million ounces of silver, using a 0.5% copper cut-off and constrained by a US$4.50 per pound optimised pit shell. Contained copper is up 34% over the previous all-inferred estimate, while 93% of the resource is now indicated and available for inclusion in reserves. A maiden reserve is due in the December quarter.

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