Bank stocks have led the ASX200 up 0.3% to 5,928.8 points.
Find out which companies made gains of 10% or more today.
The entitlement issue is raising up to $4M which is proposed to be fully underwritten by Ansheng Investment Company. Funds will be used to further feasibility work necessary for a mining licence application for the Letlhakane Uranium Project.
The strategic agreement with Canarc Resource Corp will underpin future growth and profitability. Development of the New Polaris Gold Mine should ensure continuation of the Las Lagunas project at substantially increased production.
Freelancer has received a Buy recommendation from a Sydney-based stockbroker with a price target of A$1.35. FLN last traded at $0.915.
The size of the Boorara deposit has swelled 47% to 10.8Mt at 1.0g/t gold for 340,000oz. The low discovery cost has been just $11.30/oz gold. Success in growing inventory should extend the project’s forecast mine life beyond 5.5 years. Nimbus estimate expected in April.
Exploration is continuing for larger, potentially economic nickel sulphide deposits at the Roe Hills project. Mining Projects Group has expanded the next major stage of the program to identify and drill test strategic targets along the entire 40 kilometres strike.
A team of consultants will assist Triton with the rapid development of the Nicanda Hill graphite project towards production. The Definitive Feasibility Study is due for completion before the end of 2015. Sampling at Ancuabe has been encouraging with 85% of the graphite flakes liberated exceeding 212μm.
Pioneer Resources is gearing up for new drilling programs at its Fairwater Nickel Project in the highly prospective Albany-Fraser Orogen, and also at the Blair Nickel Project.
David Crook, MD, talks exclusively with Proactive Investors about the current funding and exploration programs.
The 14 priority prospects will be the target of follow-up exploration work by WPG Resources. This includes sampling, modelling and drilling. These prospects were selected from 33 generated from a major review of historical data compiled by previous explorers.
A geological study has identified multiple targets within the company’s 500 square kilometre tenure on both the Kunanalling and Zuleika shear zones. Phoenix is now preparing drilling programs. The company already has a plus 4Moz gold bounty, including a 1.16Moz reserve.
An update to the Shambesai BFS shows that it remains an attractive gold development project with Capex to first gold pour of US$41M and total life-of mines costs of US$720oz. Net cash flow is US$138M with payback expected within 10 months. IRR is a mouth watering 106%. This is based on a gold price of US$1,300oz.
Colluli is one of the largest potassium sulphate resources globally, with 97% of the 1.289Bt resources in the Measured and Indicated categories. A Maiden reserve will be completed by AMC.
The PFS for potassium sulphate production is on track for completion in February 2015.