Proactiveinvestors Australia

John Davis, managing director of Exterra Resources, speaks exclusively with Proactive Investors about the company's growing gold resource inventory and near term development opportunities with its Zelica and Linden projects.

A 151% increase in the high grade gold Resource for the Second Fortune mine further supports the case for Exterra to now begin a Pre-Feasibility Study. There are intriguing treatment of ore options opening for Exterra. Discussions are known to be underway with nearby plant operators for the potential treatment of Second Fortune ore.

Further gold discoveries at Exterra’s Linden Gold Project in the highly prospective Yilgarn Craton of Western Australia serve to build the anticipation of an impending Resource upgrade, which is due late July/early August. The new discoveries continue to reinforce the high grade nature of the Second Fortune mine.

Bonanza gold grades of up to 65.1g/t demonstrate the extremely high grade nature of the Second Fortune mine, with further exploration upside possible from the continuity of the main lode system at depth, below the current 52,000oz Resource.

New high grade gold assays, which show grades of up to 43.5g/t, provide the potential to increase the current Resource at Exterra’s Linden Gold Project and pave the way for the start of a Feasibility Study into developing the Second Fortune underground mine.

The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.

Having made inroads to access the eastern area of the high grade silver Bonanza Zone at the New Departure project in Montana, Black Mountain is on the cusp of first cash generative silver production.  

Cougar Energy has started the Phase 1 drilling program at its Mackenzie PCI grade coal tenement that will unlock the value of the asset by helping define a maiden JORC Resource.

Besides securing offtake for iron ore produced at Nelson Bay River Iron Ore DSO Project, the agreement with Singapore’s Frost Global also provides Shree Minerals with a US$4 million advance to progress development of the project, which has low forecast OPEX of $58 per tonne for DSO product FOB Port Burnie.

With a capital raising under the belt, Vantage Goldfields is taking rapid strides in expanding its Lily and Taylors gold mines in South Africa. Its combined operations are expected to produce 30,000 ounces in 2013, and expanding to 45,000 ounces next year.