News

Westgold Resources has taken a major step towards sustainability by launching four new hybrid power facilities to power its Western Australian operations. The move marks a shift from diesel-fired power to renewable energy, resulting in a reduction of 15,000 tons of CO2 emissions and a saving of 10 million liters of diesel annually. Managing Director Wayne Bramwell emphasized the company's dedication to lowering greenhouse gas emissions and operational costs. The first 17.9-megawatt facility, located at Tuckabianna, near Cue, WA, was successfully commissioned, with three more facilities planned at Bluebird, Fortnum, and Big Bell sites, aiming for a combined capacity of 82 megawatts by Q3 2024. This transition aligns with Westgold's 2024 goals of increased gold production and cost reduction

Western Australian gold explorer De Grey has announced substantial advancements at the Hemi project in the Pilbara region. Exploratory efforts have led to major strike extensions at the Eagle and Diucon deposits, with potential for increased scale of the Diucon-Eagle open pits and enhanced underground mining opportunities. De Grey's general manager of exploration, Phil Tornatora, highlighted the extension of mineralisation at depth at Eagle and along Diucon's strike. The high-grade mineralisation zones are associated with significant shear zone inflections and visible gold-bearing quartz veins. De Grey has been actively developing the Hemi project since 2019 when a valuable gold discovery was made in the Mallina Basin. The company's focus on exploration drilling is yielding promising results, with the potential for resource expansion and future underground mining.

Sulphate of potash miner Kalium Lakes has taken a significant hit, entering administration and appointing Rob Brauer, Jason Preston, and Rob Kirman as receivers and managers. These three receivers have now assumed control of the company's operations, which will continue as they evaluate potential sale or recapitalization options. In response to the announcement, five key figures, including the chairperson and non-executive directors, have resigned. However, Kalium Lakes remains optimistic about the future, stating that the strategic process initiated in June 2023 has garnered considerable interest and will continue under the receivers' guidance. The company made headlines in 2021 when it delivered the first batch of sulphate of potash in Australia. As the administrators reach out to creditors, the first meeting is scheduled for 15 August 2023, setting the stage for crucial decisions that will determine the miner's fate.

Bellevue Gold's flagship gold project in Western Australia is proving to be a promising venture as the company announces high-grade mineralisation during infill drilling. The historic Bellevue gold mine, located in the northern Goldfields region, has returned positive results from both the Bellevue South and Armand Main areas. With development levels opened in the upper Armand work area, long hole stoping is set to commence soon, contributing significantly to early stoping and development ore. Meanwhile, ore driving has already begun at the Bellevue South area, with intersected high-grade development ore aligning with resource model expectations. The company's managing director, Darren Stralow, expressed confidence in meeting production targets, and the mining ramp-up is progressing as planned, with gold production expected in the December 2023 quarter. The Bellevue gold project is gaining attention as it approaches its much-anticipated first production quarter, promising to establish Bellevue Gold as a significant player in the Australian gold mining industry.

Larvotto Resources, a mining company based in northwest Queensland, has exciting news for investors and stakeholders as it begins the reverse circulation drilling at its Mt Isa project. Situated within the Mt Isa Inlier, a region known for its abundance of valuable minerals, the project holds immense potential for copper, gold, and cobalt.

The initial focus will be on two highly promising areas, Yamamilla and Whitehorse prospects, both displaying significant mineralization potential. To overcome past drilling challenges, Larvotto Resources is employing a specialized track-mounted, high-capacity air reverse circulation drill rig.

Yamamilla, a lead area, boasts over ten kilometers of mineralized strike and presents a well-defined geochemical and geophysical anomaly. Previous drilling in 2012 showed signs of mineralization, but failed to hit the target zones due to air supply issues.

On the other hand, Whitehorse has recently yielded high-grade rock chips over a 2300-meter strike, increasing optimism for successful drilling results.

Investors eagerly await updates on this exploration phase as Larvotto Resources endeavors to unlock the untapped potential of the Mt Isa project and contribute to the rich metallogenic legacy of the region.

Widgie Nickel has achieved a remarkable high-grade nickel discovery at its Widgie Townsite resource, a key element of the Mt Edwards project pipeline and central to the Widgie South project. The successful drilling campaign revealed significant nickel mineralization on the eastern limb of the Widgie Townsite syncline, marking a major breakthrough for the company.

Located in Western Australia, the Widgie Townsite resource forms an essential part of Widgie Nickel's broader mining ambitions. Impressive nickel intercepts from the drilling include Eastern Limb MEDD069 and Widgie Townsite MEDD061, validating the immense growth potential of the Widgie South project.

Steve Norregaard, Managing Director of Widgie Nickel, expressed excitement over the results, stating that the findings would support the development of Widgie South and the company's larger-scale production aspirations at Mt Edwards. The discovery strengthens Widgie Nickel's position in the nickel industry, setting the stage for further exploration and growth in the region.

St Barbara's June 2023 quarter report unveiled a remarkable performance, bolstering its standing in the gold mining sector. The company achieved a significant increase in gold production, yielding 77,125 ounces at an AISC of $2145 per ounce, surpassing the March 2023 quarter results. Overall, FY23 production totaled 260,368 ounces, meeting upper-end guidance, with an AISC of $2443 per ounce. A sale of 68,854 ounces of gold in the June quarter, at an average realized price of $2921 per ounce, further contributed to the company's success.

The Leonora gold operations delivered their best FY23 performance, shining in their final quarter under St Barbara's ownership before being acquired by Genesis Minerals. Cash contributions amounted to $51 million, with Leonora, Atlantic, and Simberi operations contributing $32 million, $16 million, and $3 million, respectively. With a cash balance of $294 million, St Barbara is now well-positioned to pursue development opportunities at Simberi and Atlantic, fostering anticipation for the company's promising future.

Red 5's King of the Hills gold mine achieved exceptional results in the June 2023 quarter, recording four months of record gold production. With 61,705 ounces produced, a significant increase from the previous quarter, the company's sales reached 58,960 ounces, generating operating cash flows of $50.6 million. Demonstrating strong operational efficiency, Red 5 met its production and cost guidance for the second half of the fiscal year, producing 102,574 ounces at an AISC of $1837/oz. Equally noteworthy was the company's commitment to safety, achieving a remarkable improvement with no recordable injuries during the quarter. In addition to successful operations, Red 5 made strategic board appointments and improved its financial position by reducing net debt to $81.9 million. The positive outcomes pave the way for Red 5's promising future, with a focus on continued safe and profitable growth at the KOTH processing hub.

Antipa Minerals, the Australian exploration company, has unveiled its 2024 exploration plans for the Paterson and Wilki farm-in projects, fully funded by strategic partners. The Paterson program will kick off in August 2023, consisting of a comprehensive 9000m drill program to test multiple high-priority gold-copper targets, utilizing diamond core drilling, reverse circulation (RC) drilling, and air core drilling. Concurrently, Antipa will conduct ongoing exploration activities to identify new targets, enhancing the potential for significant discoveries.

At the Wilki project, Antipa plans 2300m of RC drilling to assess prospects like Havieron, Winu, and Telfer, located near Newcrest's Telfer gold-copper-silver mine. These activities are part of an existing $60 million farm-in agreement, fully funded by Newcrest.

Antipa's management expressed excitement about systematically testing high-potential targets, fueling growth and pursuing multiple major gold-copper discoveries. These ambitious exploration programs position Antipa Minerals as a key player in Australia's mining landscape.

Evolution Mining's June quarterly report has unveiled promising results for the company's Ernest Henry copper-gold project in Queensland. The drilling activities conducted at the mine have significantly enhanced the extension project, providing a positive outlook for Evolution Mining's future.

Lawrie Conway, the CEO and Managing Director, expressed confidence in the company's prospects for the financial year 2024, citing a strong pipeline of quality projects to drive increased margins and extend asset life. The drilling results at Ernest Henry are expected to contribute to the growth of the mineral resource, with encouraging extensions to mineralization identified.

Glen Masterman, Vice President Discovery, emphasized the continued success of drilling efforts at Ernest Henry, projecting a continuous rate of growth with increased underground and surface drilling activities.

Moreover, Evolution Mining reported successful results from their exploration campaign in Western Australia. The declaration of the Cue joint venture West Island mineral resource indicates value along a multi-kilometer mineralized trend connecting with Musgrave Minerals' Cue gold project.

The report also showcased other achievements, including a commendable 19% reduction in total recordable injury frequency, FY23 gold production reaching 651,155 ounces, and an operating mine cash flow of $944 million.

With these positive outcomes and a robust project portfolio, Evolution Mining is poised for further growth and success in the mining industry, ensuring sustainable prosperity for the company.