A concept engineering study has highlighted the potential for Yellow Rock Resources’ Gabanintha project in Western Australia to produce about 10,000 tonnes of high-purity +98.5% vanadium pentoxide flake per annum at a C1 cash operating cost of A$7.26/kg for more than 20 years.
The signed off take contract to supply material to an operating flotation plant located in Hakkari Province provides high Lead-Silver content and hence an attractive feed for the Meskan Olmez Madencilik plant and a milestone for Condor's aspirations to be in early cash flow production.
The continued drilling success by KGL at Jervois has delivered an 85% increase in the resource tonnage, with contained copper climbing 64%, while silver, lead-zinc and gold contained resources also improved. Key catalysts in the near-term include new drilling results and the DFS.
MPJ's shares are set to open firmer after intersecting between 10.0%-12.6% nickel and up to 2.75% copper in the first drill hole at the Roe Hills Project, located 110 kilometres east of Kalgoorlie. This was from using an XRF portable analyser.
U.S. stocks ended the week in a loss with all three major indexes falling on concerns the Federal Reserve will increase interest rates sooner than expected. Gold and oil both settled lower.
The Nullagine Gold Project continues to perform strongly, achieving its production target of 36,551 ounces of gold for the 6 months to 30 June 2014. Revenues for the half-year were A$55.3 million with cash operating margins of $386 per ounce.
With a net profit of $1.4 million and revenue of $7.5 million in the books for the 2014 financial year, Grand Gulf Energy has its eyes on further growth with current revenues of US$385,000 per month set to fund further oil and gas drilling.
Triton shares should open firmer as drilling at Nicanda Hill continues to locate high grade graphite. With only 35% of RC and Diamond drilling assay results received back from the SGS South African laboratory to date, there looks to be more upside in store based on drilling to date.
The purchase order win for TZ Limited’s Infrastructure Protection division from a major European multinational banking and financial services corporation could lead to further orders from the financial services sector to secure and protect IT assets in line with new guidelines from the Monetary Authority of Singapore.
The advanced lead-zinc-silver project is already permitted which could see trial mining begin shortly. The strong price outlook for lead and zinc will assist the cause. The three part acquisition provides de-risking for Condor. We would expect Condor shares to open firmer on the news.
The ASF Consortium is advancing its application for the Gold Coast cruise ship terminal and integrated resort development to address the Queensland Government’s requirements and local community support.
Second phase drilling will commence in September at Speewah Dome and will take advantage of an enhanced geological understanding from previous exploration and encouraging intersection of various fault and thrust structures and mineralisation at the project - providing King River with an opportunity to hone in on best drill targets.