The initial 5,000 metre diamond drilling program will test major nickel sulphide targets at Mining Projects Group’s flagship Roe Hills project in the Fraser Range. The company is fully funded to expand this to 10,000 metres if required.
Metals of Africa will increase its cash position by $5 million through a placement and underwritten rights issue. The company will now be well-funded to complete drilling programs at Montepuez and Rio Mazoe in Mozambique.
Financing of US$5.5 million is now in place for Minera Gold to complete the acquisition of the San Santiago gold-copper processing plant in Peru. This will reduce the company’s gold processing costs while providing additional earnings from toll treatment.
MZI Resources is now funded to complete the construction, commissioning and ramp up of the Keysbrook Mineral Sands Project through to full production after restructuring a finance deal. The package represents an increase in committed funding to $109.5 million.
The acquisition of the Lake Johnston Nickel Project in Western Australia from Norilsk Nickel gives Poseidon Nickel its third project with mines and infrastructure to enable production to be brought on-line relatively quickly and at low levels of capital investment. We expect the share price to rise reflecting the new upside.
U.S. stocks finished lower on Tuesday as Ukraine continues to remain an uncertain situation for markets. Bucking the falling trend was Apple as investors await its September event, and potentially new products. Gold and oil fell. The ASX SPI 200 is up three points to 5649.
Progress continues to be made towards Tiaro Coal’s plans to develop a viable coking-PCI coal mine with the company now carrying out mine planning and economic analysis for its T9 West Project Pre-Feasibility Study. The project is supported by China Qinfa Group and ICP Ltd.
South Boulder has extended its PFS on the Colluli Resource in Eritrea to allow it to enable consideration of the impact of the following recent favourable project developments. The PFS is now expected in February 2015, with the DFS still on track for mid-2015.
Panned concentrate sampling at Strategic Elements’ Golden Blocks Project in New Zealand’s South Island has returned up to 51.28g/t gold, indicating its potential to host gold mineralisation throughout the wider area outside of the historic Aorangi Mine. Shares in Strategic Elements should open higher.
Triton's latest high-grade graphite intersections at the Nicanda Hill prospect add to the potential that it will become one of the world’s largest multi-element projects. Drilling has confirmed multiple high grade zones over a 3.2km strike length. All drill holes continue to show substantial visible flake graphite.
The anticipation is building for Real Energy Corporation which expects to spud its maiden Cooper Basin well, Tamarama-1, by the end of this week to test the gas potential of the Toolachee and Patchawarra formations.
A much anticipated drill program will take off at Skyfall seeking to explore at greater depths for high grade primary Magnetic End Use Rare Earth mineralisation below existing surface assays. This one is worth watching.