The first mining campaign has produced 5,639 ounces of gold at the Greenfields mill. Phoenix Gold expects the Kintore mine to be cash flow positive in the March quarter 2015 as strip ratios decrease and higher grade ore is accessed at lower levels.
Drilling at Mining Projects Group’s Roe Hills Project has identified a new thick nickel sulphide fertile lava channel. This increases prospectivity of the entire 40 kilometre strike. Geology is comparable to that at the Cosmos Nickel Project.
The oversubscribed placement was made to new institutional, sophisticated and professional investors. This delivers further financial capacity to Blackham’s register. Discussions are progressing to finance the Matilda Gold Project through exploration, feasibility and into production.
Poseidon is expected to convert a significant amount of resources at Lake Johnston into the Indicated category within weeks, with the next step the potential to convert to reserves. The company has also received offers for nickel concentrate offtake.
A higher ratio of Golden Gate ore milled and improved mining performance has resulted in the production of 19,699 ounces of gold in the December quarter 2014. This is higher than its guidance of 18,000 ounces.
U.S. stocks ended sharply lower Wednesday after the Fed signaled it remains on track to hike interest rates sometime in the middle of this year. This followed a near 300 point plunge the previous trading day. The ASX SPI 200 is down 65 points to 5447.
Sales of 13,575 sleep apnea devices in the December quarter 2014 represent a growth of over 21.8% compared to the same quarter the previous year. This has also contributed to a 18% increase in first half FY15 revenue to $14.8M. SomnoMed has confirmed forecast revenues of $32.5M for the current financial year.
The Aluketiya graphite project is on track to start production in the September quarter 2015. Drilling has returned assays of up to 99.3%TGC. MRL Corporation will commence a new drilling program within days to establish further graphite mineralisation.
Low cash operating costs of A$1,116oz have allowed Alkane's Tomingley Gold Operations to deliver a comfortable profit margin of circa A$310oz. The project generated revenue of $23.5M at an average price of A$1,426oz. The company has also lodged a new mining lease application for the Dubbo Zirconia Project.
The CE approval is a key milestone for Redflow, as it is a requirement for sales in Europe. Minimal changes to make its zinc-bromide batteries CE compliant have been made and rolled out to production immediately. Shares in the company are expected to trade higher.
The first stage Erdenet to Ovoot Rail Bankable Feasibility Study with CRCC is a step forward for Aspire Mining. It will place the company in a better position to negotiate a Concession Agreement with the Mongolian Government and advance funding discussions.
Works will begin at the Nicolsons Mine in the ensuing weeks. This follows Pacific Niugini receiving the Department of Minerals and Petroleum’s approval of its Project Management Plan. The company is targeting positive cash flow 6 months from commencement.