Venturex Resources’ name change to Develop Global is complete (reports MiningNews).
Shareholders approved the change at a meeting last month.
The company's ASX code will change from VXR to DVP.
Develop managing director Bill Beament launched the new name and branding during a presentation at Diggers & Dealers in August.
The company will focus on developing people, as well as projects.
Beament said the name change reflected the company's new strategic direction and corporate culture.
TNG Limited has announced the appointment of engineering and construction company Clough to collaborate on the Mount Peake mine site layout, following its decision last week to relocate the proposed TIVAN downstream plant to the mine site (reports Small Caps).
It was announced at the end of last month that the proposed TIVAN downstream plant will be co-located 235km north of Alice Springs at Mount Peak rather than the initial plan which was to construct it in Darwin’s Middle Arm industrial precinct.
Trigg’s completed scoping study has outlined its flagship Lake Throssell project in Western Australia’s Eastern Goldfields region as a robust new sulphate of potash project, positioning it as a potential top-10 global producer (reports Stockhead).
The study has defined a project capable of producing 245,000 tonnes per annum of sulphate of potash over an initial life of mine of 21 years at an all-in sustaining cost of $372 per tonne of SOP.
Initial capital costs have been estimated at $378m with Trigg Mining (ASX:TMG) including a very conservative contingency of $70m while payback is expected in 4.5 years.
When the wind was blowing and the gas was flowing, Britain’s energy market looked like an exciting place: a high-functioning, competitive market in which as many as 50 suppliers were jostling for customers, promising households ever-cheaper deals for their gas and electricity (reports The Australian Financial Review).
But when the wind died down a few months ago, and the gas price paid in European markets surged fourfold, suddenly things began to look very different.
Canaccord Genuity analysts believe the uranium spot price will continue to rise over the coming weeks, peaking as high as US$80 per pound by year-end as the Sprott Physical Uranium Trust continues to hoover up volumes for its physical uranium fund
According to Canaccord's calculations, SPUT still has $889 million available for uranium purchases out of a total facility of $1.3 billion.
Sprott has bought an average of 2.3Mlb per week since launching its "at the market" equity program in August.
The trust has purchased about 30Mlb of uranium, equivalent to about 17% of global demand.
Spot prices have risen sharply from just over $30/lb mid-August to a fraction below $50/lb today.
Following a detailed assessment, TNG Limited (ASX: TNG) has elected to construct its downstream TIVAN processing facility at its Mount Peake mine site instead of the previous proposed industrial site in Darwin, Northern Territory (reports Small Caps).
The ever-bustling Karl Simich has fixed Sandfire’s looming production gap in grandioso style with the A$2.6 billion acquisition of the MATSA copper-zinc-lead complex in Spain (writes Barry FitzGerald on MiningNews).
It is grandioso all right, with the acquisition cost being more than twice Sandfire's pre-deal market cap for a 1.4 times uplift in copper equivalent production.
On those simple metrics, it is clear Sandfire did not get a bargain, as might be expected in a UA$4.20/lb copper market and with stiff competition for MATSA from Grupo Mexico in particular.
While not a bargain, the MATSA acquisition is nevertheless a great deal in the making.
Sandfire Resources is understood to have been swamped with demand for a $1.25 billion equity raising to help fund the acquisition of an operating copper-zinc mine in Spain despite mixed reaction to the deal from analysts (reports The West Australian).
The Karl Simich-led company said it would spend $2.6b acquiring the MATSA mining complex near Seville from Swiss commodities trader Trafigura and Abu Dhabi state investment company Mubadala Investment Company, describing the deal as transformative.