News

Work on the Exxon project set to take place alongside construction of the ~US$20b Total LNG project

RBR Group’s strategy to be a major supplier of labour and training services to the Mozambique LNG construction industry has received another boost with the Government of Mozambique and the Exxon Mobil (Exxon) lead consortium behind the Mozambique Rovuma Venture announcing an Initial Investment Decision for the US$33 billion LNG project.  The Initial Investment Decision paves the way for Exxon and its partners to invest more than US$500 million in the initial construction phase of Rovuma.

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Plus, whispers that Newmont is drilling two deep holes in NSW porphyry country fires up interest in neighbour DevEx while initial drilling at PolarX’s potential company-makers offers much encouragement

Veteran geologist Peter Langworthy has been promising to turn Gateway (GML) into a player in WA’s Murchison region ever since he arrived as MD at the former sleepy gold explorer. Langworthy has now started to deliver on the promise. Gateway has just announced a maiden resource estimate for the Whistler and Montague deposits at its  historic Gidgee project in WA of 3.4mt at 2.2g/t for 240,000oz of gold. It is a good start for the lightly-capitalised Gateway ($25m at 1.9c a share).

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The risk-chickens came home to roost this week as the compounding effect of trade war jitters were magnified by the start of a debilitating US Presidential impeachment process

The risk-chickens came home to roost this week as the compounding effect of trade war jitters were magnified by the start of a debilitating US Presidential impeachment process, leaving gold as the only clear winner – but with another precious metal tailing along. Palladium, a sister of platinum but not a mainstream commodity, has emerged as the star of the year, though there are very few entry points for Australian investors unless they’re prepared to look to South Africa or Russia – where entirely new levels of risk abound.

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Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie

Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie as it looks to expedite plans to bring it into production (reports The West Australian). The company yesterday unveiled a 17 per cent increase in its global resource, lifting it to 49.4 million tonnes at 1.9 grams per tonne for 3.02 million ounces of gold. Bardoc will use the resource and a recently announced $15 million capital raising to underpin a pre-feasibility study for its project due early in the new year.

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Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery

Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery (reports MiningNews). Phoenix Ridge has a maiden inferred resource of 481,000 tonnes at 8.1 grams per tonne gold for 125,000 ounces of gold, using a 2gpt lower cut-off. The resource is based on 24 diamond holes for 8200m of drilling.

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Saracen Mineral Holdings has snapped up Talisman Resources’ Sinclair nickel project for $10 million

Saracen Mineral Holdings has snapped up Talisman Resources’ Sinclair nickel project for $10 million for its gold potential and existing infrastructure close to its Thunderbox operations near Leinster (reports The West Australian).

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First drilling of the Mars prospect at PolarX’s Alaska Range project has hit porphyry-style veins containing visible copper, with the junior saying it was looking forward to further results from the “very exciting” target (reports MiningNews). PolarX is excited because of the potential significance of any discovery given "the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the geophysical anomalies at Mars". Assays are also awaited for potential gold content.

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4th October 2019

Drilling on a minor portion of the 18km-long contact of the Montague Granodiorite has delivered Gateway Mining a maiden resource of 240,000 ounces of gold, and the company has immediately launched into a 16,000m drilling program hoping to quickly add additional ounces (reports MiningNews). Gateway managing director Peter Langworthy said the maiden inferred resource for the Whistler and Montague deposits of 3.4 million tonnes grading 2.2 grams per tonne was an important first step for the project in the emerging play.

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