Gold producer St Barbara has paid A$25.3 million cash for a 19.8% stake in explorer Kin Mining (reports MiningNews).
The acquisition of 158.1 million shares was made yesterday at an average price of 16c per share, a premium to Kin's closing price of 14c yesterday.
Kin closed at just 11.5c on Tuesday.
St Barbara has been working on a Leonora province plan centred around its 1.4 million tonne per annum Gwalia mill.
Kin's Cardinia project has a resource of 30 million tonnes grading 1.28 grams per tonnes for 1.23 million ounces and is about 35km from the Gwalia mill.
St Barbara has been relying on about 200,000t per annum of third party ore to fill the mill.
Kairos Minerals (ASX: KAI) has unearthed “encouraging” drill results from a recent campaign at the Roe Hills project
Kairos Minerals (ASX: KAI) has unearthed “encouraging” drill results from a recent campaign at the Roe Hills project, with the program uncovering shallow gold mineralisation close to Silver Lake Resources’ (ASX: SLR) French Kiss operation (reports Small Caps).
Sandfire Resources says it remains on track for first copper production from its $US279 million ($364m) Motheo mine in Botswana in early 2023 after securing a mining licence for the proposed operation (reports The West Australian).
The permit comes ahead of an updated mineral resource for the company’s satellite A4 deposit in coming weeks, which will allow Sandfire to boost throughput from Motheo from 3.2 million tonnes per annum to 5.2mtpa.
A definitive feasibility study for the project in December 2020 estimated Motheo’s T3 deposit would be a 12.5-year operation, producing on average 30,000t of copper and 1.2 million ounces of silver a year over the first 10 years of operations, with relatively low capital intensity and robust operating margins.
Ken Brinsden jokes that he and his colleagues have whiplash after a wild couple of years in the lithium sector (reports MiningNews).
From opening the A$284 million Pilgangoora lithium-tantalum mine in late 2018 to being forced to moderate production in 2019 and 2020 to as little as 30% of full capacity due to poor market conditions, it's been a rocky road for Pilbara.
In mid-2020, when lithium market sentiment was at its weakest, Pilbara completed a critical refinancing, replacing a high-interest US$100 Nordic bond with a $110 million senior secured debt facility from BNP Paribas and the Clean Energy Finance Corporation - the first time a lithium company had attracted conventional bank financing.
Drilling by Centaurus Metals at the Jaguar South deposit in Brazil has returned a standout hit of 56.1m at 2.05% nickel from 206m (reports MiningNews).
The hit included 17.6m at 4.86% nickel and 6.7m at 2.09% nickel.
It is a record nickel intercept for the project.
"This is a world class result for Centaurus and reinforces the quality of the Jaguar South deposit," Argonaut Securities analyst George Ross said.
The hole was immediately beneath the limit of the planned open pit.
A near doubling in the price of Iluka Resources (ASX: ILU) and a sharp upward move by Astron Corporation (ASX: ATR) has restored investor interest in titanium minerals and zircon, but before buying into one of Australia’s oldest mining industries it is wo
What’s driven Iluka up from $4.50 at this time last year to $8.60 is a combination of improved demand for what it mines, the potential to add rare earths to its product range, and trouble in the African mineral sands industry.
Astron, a much smaller company, has outperformed Iluka with a 150% share price rise from $0.20 at the start of the year to $0.51 thanks to a corporate reorganisation which will see it quit a Chinese mineral processing business so it can focus on the Donald project in central Victoria.
Former Orica boss Alberto Calderon has predicted a bright future for gold as a store of value in a world where central banks keep “printing money like there is no tomorrow” (reports The Australian Financial Review).
Mr Calderon is taking the reins as chief executive at AngloGold Ashanti just a month after quitting as boss of Orica.
Johannesburg-based AngloGold Ashanti said Mr Calderon would bring two decades of executive leadership experience in the global mining sector to its operations in Africa, the Americas and Australia.
The world’s third-biggest gold miner had been on the hunt for a new chief executive since the departure of Kelvin Dushnisky last year.
Perth-based explorer Trigg Mining (ASX: TMG) has moved closer to progressing its wholly-owned Lake Throssell sulphate of potash project in Western Australia with the completion of a critical lake trenching and test pumping program (reports Small Caps)
Brine pumping trials from test trenches at the project have demonstrated the abstraction potential of the lake surface aquifer, which would be the target for initial production from a trench network.
The trials aimed to determine the drainable porosity (specific yield) and hydraulic conductivity properties for the upper section of the aquifer.
Two test trenches (each 100m long) and seven test pits were distributed across the current resource, each comprising a small pumping trench up to 9m long and an adjacent monitoring pit.