Mount Monger Operations near Kalgoorlie generated positive cashflow of $61 million on the back of full year gold sales of 172,838 ounces. Silver Lake Resources had $34.0 million of cash & bullion, no bank debt and investments in ASX-listed entities of $9.8 million at June 30, 2014 year end.
The 300.2% increase in net profit to $16.8 million and a 26.7% increase in revenue to $23.2 million marks an extremely positive reporting end to the 2014 financial year for Carnarvon Petroleum. In turn, the major oil discovery at Phoenix South-1 in the North West Shelf highlights the strong future ahead.
New rock chip channel sampling along road cuttings has identified high grade visible gold of up to 1 metre at 28.9g/t at White Cliff Minerals’ Aucu discovery in the Kyrgyz Republic. Reverse circulation drilling has started to test the highly prospective Copper-Gold Zone.
U.S. stocks dropped after the latest flare of tensions between Ukraine and Russian forces overshadowed the latest batch of U.S. economic data. Gold gained. The ASX SPI 200 is off five points to 5604.
Despite mining depletion, Silver Lake Resources has increased Resources at its producing Mount Monger Operations near Kalgoorlie, Western Australia, to 3.7 million ounces from 3.6Moz due to increases at Daisy Complex and Cock-eyed Bob.
Proceeds from the $10 million capital raising will be used primarily by Sun Resources to drill, fracture stimulate and test the Jack Howe-1H lateral well at its Normangee Oil Project in Texas. Success will look to unlock the upside present in the 7,000 net acres in its Southern Woodbine area.
Tiger will become the ASX's largest listed copper cathode producer and fourth biggest attributable copper producer with the acquisition of the remaining 40% interest in the Kipoi Copper Project in the DRC. The acquisition is transformative and increases attributable earnings in FY14.
With the new $13.835 million facility from Commonwealth Bank, its $42.05 million share placement and existing cash, Yellow Brick Road is fully funded for the acquisitions of Vow Financial Holdings and Resi Mortgage Corporation.
Progressing its strategy of becoming an Australian gold producer by acquiring the advanced Leonora Gold Project in Western Australia will give Kin Mining managing director Trevor Dixon much to discuss at the "Sydney Investor Luncheon" on September 10. Register today.
Resource drilling at A-Cap Resources’ Letlhakane Uranium Deposit in Botswana has confirmed the presence and continuity of higher grade uranium mineralisation within the shallow areas proposed for early mining. It also provides valuable information required for the pit optimisation study.
The Australian Football League’s approval for the case-by-case use of Regeneus HiQCell® stem cell therapy to treat injured players is a significant step forward for Regeneus with a high profile sporting authority. The regenerative therapy has also received clearance from the Australian Sports Anti-Doping Authority.
Apollo Minerals has now commenced a drilling program at the highly prospective Mars Aurora Tank Project, which may if successful be comparable in size and style given magnetic signatures to IOCG mineralisation evident at the nearby Prominent Hill Mine. Apollo's shares are expected to firm.