News

Drilling carried out by RareX last year has paid off with a 47% increase in overall resource tonnage at its Cummins Range rare earths project in Western Australia’s Kimberley region (reports Stockhead).

Resources at the project now stand at 18.8 million tonnes grading 1.15% total rare earth oxides (TREO) that includes 0.23% neodymium and praseodymium plus 0.14% niobium oxide. The inclusion of niobium for the first time is significant as the metal used for lightweight high-strength steel alloys currently commands a price of US$92.65 per kilogram, or about three times the basket price of Cummins Range rare earths, making it a potentially valuable by-product.

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OZZ has kicked off its maiden drilling campaign today at the Maguires gold project in WA less than two weeks after listing on the ASX (reports Stockhead).

“Obviously we’re very excited to hit the ground running less than two weeks after listing,” managing director Jon Lea told Stockhead. “We’re hugely active, we’ve got an experienced board, and we’ve got the financial resources to push ahead with a significant exploration push across our key projects because we’ve just completed our IPO.”

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And speaking of hunger, is St Barbara about to consume Kin and kick-start a regional consolidation?

The nickel price has rallied hard since the setback earlier in the year which was triggered by news from China’s Tsingshan that it had plans to get into the battery materials space by converting a portion of its nickel pig iron (NPI) production in Indonesia into nickel matte. Hooray for them as there is unlikely to be a Western end-user likely to touch the stuff given the energy intensity involved in making NPI in the first place, and then using yet more to arrive at a suitable nickel matte.

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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).

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Two of the biggest names in Australian mining have thrown their weight behind a star-studded special purpose acquisition company (SPAC) in the United States under plans to acquire copper and battery minerals assets (reports The Australian Financial Review

Former Northern Star Resources talisman Bill Beament and former Fortescue Metals chief executive Nev Power have joined Glencore director Patrice Merrin in “Metals Acquisition Corp”; a SPAC that filed its prospectus with the United States Securities Exchange Commission (SEC) this week. SPACs are listed shell companies with no business activity that raise money with the sole purpose of making future acquisitions and Metals Acquisition Corp hopes to raise up to $US287.5 million ($384.3 million) ahead of a likely listing on the New York Stock Exchange.

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IT was never part of Simon Lawson’s plan to run an exploration company (reports MiningNews).

A geologist by training, he describes himself as an "operations guy" who loves to get his hands dirty. After getting his geology degree from the University of Auckland, Lawson started out his career with Jubilee Mines/Xstrata Nickel before working for Silver Lake Resources at Daisy Milano. He then joined Northern Star Resources around the same time it had acquired the Paulsens gold mine, initially being Paulsens' geology manager before working his way up to principal geologist for the company.

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A big couple of months is underway for Sunstone Minerals with its imminent drilling of the “compelling” El Palamar prospect in the same geological belt as the giant Cascabel copper-gold deposit (and Llurimagua copper deposit), the headline act

A big couple of months is underway for Sunstone Minerals with its imminent drilling of the “compelling” El Palamar prospect in the same geological belt as the giant Cascabel copper-gold deposit (and Llurimagua copper deposit), the headline act (reports MiningNews). El Palamar has been drilled once previously, by Codelco, which intersected porphyry copper-gold mineralisation with the three holes it put down. However, according to geophysics-vectored Sunstone, the main target is away from the Codelco drilling, which had determined its area of interest by surface prospecting.

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Bellevue Gold says it will draw up a shortlist of preferred lenders to help fund its namesake $255 million gold project near Leinster after being swamped with proposals (reports The West Australian).

The Steve Parsons-led developer said it had received 12 non-binding, indicative debt offerings of between $170m and $289m from leading Australian and overseas institutions. Mr Parsons said the indicative offers were a testament to the project’s technical and financial strengths. “The quality of the institutions which have lodged proposals and the highly attractive terms they contain reflects Bellevue’s outlook as a high-grade, high-margin project in a tier-one location,” he said.

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