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St Barbara Released Q3 March FY19 Report, Record Performance By Simberi Gold Resource

St Barbara Released Q3 March FY19 Report, Record Performance By Simberi Gold Resource

The mineral explorer and gold producer St Barbara Limited (ASX: SBM) released its Q3 March quarterly FY19 report. On the operational front, the company recorded...
Laneway Resources Announces Commencement Of Processing Of Ore from Agate Creek Gold Project

Laneway Resources Announces Commencement Of Processing Of Ore from Agate Creek Gold Project

On 18th April 2019, Laneway Resources Ltd (ASX: LNY) announced that the processing of ore has commenced from the company’s 100% owned Agate Creek...
FMG

FMG presents Quarterly production results for March 2019

Fortescue Metals Group Limited (ASX: FMG), a global leader of the iron ore industry, presented its quarterly production results for March 2019 on 18th...
GME Announces March-19 Quarter Report; To Raise $1.3 Mn Via Renounceable Entitlement Issue GME Resources Limited (ASX: GME), headquartered in Parliament Place, West Perth, Australia deals in mineral exploration. The company is engaged in two projects -NiWest Nickel Laterite Project and Devon Gold Mine project located in Western Australia. GME released its March 2019 quarter report and cash flow report today. The company announced plans to raise capital worth A$1.3 million on 5th April 2019 by a 1:20 Renounceable Entitlement Issue at an issue price of 5.5 cents per share and to issue 24,107,011 new shares. The company intends to use the funds raised from the issue to conduct further assessment of Pre-Feasibility Study (PFS) and for general working capital purposes. GME’s crucial asset is its NiWest Nickel-Cobalt Project that is located adjacent to Glencore’s Murrin Murrin operations in Western Australia’s North Eastern Goldfields. GME’s NiWest Nickel-Cobalt Project had undergone a PFS whose results were released by the company in September 2018 quarter. During the quarter, the LME quoted price of nickel increased by approximately 21% to US$12,900 per tonne while the LME quoted price of cobalt decreased by around 44% to US$30,000 per tonne. The LME nickel inventories were reduced to approximately 183kt, down by 12%. Some of the major highlights of GME’s Pre-Feasibility Study report were: • The head grades average to remain 0.07% cobalt and 1.05% nickel for the first 15 years • The initial mine life to be 27 years with a steady state nickel and cobalt recoveries of 79% and 85% respectively. • post-tax NPV8% valued at A$791M (Ungeared). • The payback period (pre-tax) estimated to be of 4.4 years. • The net project cash flow (post capex and tax) projected at A$3,342M. • Initial capital cost to be A$966M. • Average cash unit operating cost to be US$3.24/lb containing nickel (US$3.00/lb for the first 15 years). • Mineral Resource estimated at 85.2Mt at 1.03% nickel and 0.065% cobalt. • Maiden NiWest Ore Reserve rated at 64.9Mt including 0.91% nickel and 0.06% cobalt. Several value engineering opportunities that can improve NiWest project economics remarkably were identified by GME’s Pre-Feasibility Study. GME conducted value engineering work post PFS during the quarter that included the following: ? Ore feed schedule: Optimisation and refinement of mine and process scheduling across acid consumption along with nickel and cobalt recovery ? Inferred Resources and other known deposits: Incorporating the other known deposits and Inferred Resources (within the Mt Kilkenny, Eucalyptus and Hepi deposits) which were not considered in the PFS to extend initial high-grade feed life GME tied up with environmental consultancies Sustainability Pty Ltd and Ecoscape (Australia) Pty Ltd to conduct environmental assessments of the proposed mining and processing areas including Mt Kilkenny, Hepi mining area and Waite Kauri deposit. There was successful completion of environmental baseline surveys during the quarter as the survey results did not identify any real issues of concern. GME is now focussing on capturing the rapidly growing lithium-ion battery market. It is planning to directly supply the high-purity nickel and cobalt products from the NiWest Project to the market. The below table highlights the result of GME’s cash flow report for the quarter ending 31 March 2019: Items Current quarter $A’000 Cash outflows from operating activities 285 Cash and cash equivalents at the end of period 302 Estimated cash outflows for next quarter 438 As per ASX announcement on 18 April 2019 The company’s stock closed the trading day at AUD 0.057 (as on 18 April 2019), 14% higher than the previous day’s market price.

GME Announces March-19 Quarter Report; To Raise $1.3 Mn Via Renounceable Entitlement Issue

GME Resources Limited (ASX: GME), headquartered in Parliament Place, West Perth, Australia deals in mineral exploration. The company is engaged in two projects -NiWest...
Resolute Enters A New Mining Convention With Mali Government; Mining Permit Extended

Resolute Enters A New Mining Convention With Mali Government; Mining Permit Extended

Resolute Mining Limited (ASX: RSG), a gold explorer and producer, announced on 18th April 2019, that the company and the Republic of Mali Government...

Tietto Received Firm Commitments to Raise up to $7 Mn

Tietto Minerals Limited (ASX: TIE) is focused on speeding up the progress in its gold exploration targets in West Africa. The company today, on 18th...
South32 Limited Released Q3 FY2019 Report, Maintained FY19 Operating Unit Cost Guidance

South32 Limited Released Q3 FY2019 Report, Maintained FY19 Operating Unit Cost Guidance

A diversified mining and metals company, South32 Limited (ASX: S32) on 18 April 2019 released its Q3 FY2019 report. Despite increase in the working capital...
GXY

Galaxy Resources provides March quarterly report; Sal de Vida Project receives US$ 271 mn...

Galaxy Resources Limited (ASX: GXY) a global lithium company, presented its quarterly report on 18th April 2019.  In the report, the company mentioned the...

FYI Announced Completion of First Phase Metallurgical Drilling at Cadoux Kaolin Project

FYI Resources Limited (ASX: FYI) is engaged in the metals and mining sector, with its operations in exploration and development of selected projects in...
WGN

White Cliff reports maiden nickel-cobalt resource at Ghan Well

White Cliff Minerals Limited (ASX: WCN), headquartered in Australia is engaged in the business of exploration and development of minerals. The company is currently...