Thursday, 6 February 2014

RIU Australian Exploration Conference - Fremantle 2014 & Craig Oliver Award

RIU Aussie Explorer show 19-20th Feb
Programme HERE
Stockwatch list Below

The nominees for this year’s award are:

Beadell Resources;

Gold producer Beadell Resources’ primary asset is the company’s 100 per cent owned Tucano gold project, in Brazil, which includes the high-grade Duckhead deposit, where mining in the December Quarter of 2013 produced 272,000 tonnes at 4.7 grams per tonne gold for 41,000 ounces.

Gold ore stockpiles at Tucano at the end of December totalled 6.8 million tonnes at 0.83g/t gold for 181,000 ounces plus marginal stockpiles of 1.1 million tonnes at 0.45g/t gold for 15,000 ounces.

Total stockpiles including marginal totals 7.9 million tonnes at 0.78g/t gold for 196,000 ounces.

BC Iron;

The BC Iron story centres on the Nullagine iron ore project, a 75/25 joint venture with Fortescue Metals Group.

During FY2013 BC Iron shipped a record 5 million tonnes (41% increase) of iron ore, its share being BC Iron share 3.15 million tonnes.

The company completed a landmark transaction with Fortescue, which increased its stake in the JV from 50 to 75 per cent as well as increasing the Nullagine JV infrastructure access from 
5 million tonnes per annum to 6Mtpa.

In April it achieved 6Mtpa production rate ahead of schedule and EBITDA of $115.3 million (63% increase) and underlying NPAT of $71.4 million (41% increase).

BC Iron declared a total of 35 cents per share in fully franked dividends.

Doray Minerals;

Doray Minerals officially opened its Andy Well gold mine late last year.

The company’s first full quarter of gold production from Andy Well yielded 24,162 ounces at 13.09g/t head grade at a cash operating post (C1) of $448 per ounce.

An all in cost (AISC) of $949 per ounces rates as one of the lowest in Australia.

Exploration carried out by Doray at Andy Well has demonstrated the upside potential of the project, following the discovery of a third high-grade mineralised zone, known as the Suzie Zone, and the intersection of additional mineralised structures.

Gindalbie Metals;

Gindalbie Metals’ Karara project, located 200km east of Geraldton in Western Australia, is a joint venture with Ansteel, one of China’s largest steel makers and the country’s biggest iron ore producer.

The project consists of a long-life, magnetite concentrate operation with a smaller-scale supporting hematite operation.

Gindalbie completed total of 39 shipments during the December Quarter totalling 2.39 million wet metric tonnes (wmt) of combined magnetite concentrate and hematite DSO.

Karara Mining Limited (KML) expects production of magnetite concentrate to be in the range of 2.4 to 2.7 million wmt for the six months to 30 June 2014.

Shipments of DSO hematite for this period are expected to be in the range of 1.6 to 1.8 million wmt at an average weighted grade of 58 per cent.

Northern Star Resources;

Northern Star Resources has agreed to acquire 51 per cent of the East Kundana Joint Venture (EKJV) in Western Australia from Barrick Gold Corporation.

The deal is set to make it the fifth-largest ASX-listed gold miner, taking its annual production to more than 350,000 ounces of gold per annum.

The price tag on the acquisition is $75 million, which also includes 100 per cent of the Kanowna Belle gold mine.

The addition of Kanowna Belle alone is expected to increase Northern Star’s total reserves by 134 per cent to 1.1 million ounces and its resource base by 43 per cent to 5.6 million ounces.

The EKJV, which is located 20km west of Kalgoorlie, comprises the operating Raleigh and Rubicon-Hornet mines as well as the new Pegasus deposit.

It is forecast to produce 70,000 to 75,000 ounces this financial year at an all-in sustaining cost of $800 to $950 per ounce.

Phoenix Gold;

Just as 2013 was drawing to a close Phoenix Gold announced it had almost doubled total Mineral Reserves at the company’s 100 per cent-owned Castle Hill Stage 1 gold project following an independent open cut reserve study.

Phoenix’s total Mineral Reserves now stand at 26.77 million tonnes at a fully diluted grade of 1.23g/t gold for 1,057,830 ounces of gold (at a 0.4 – 0.8g/t cut-off grade).

The Castle Hill project is located on the Kunanalling shear zone in the heart of the Western Australian Goldfields less than 50km from Kalgoorlie.

Regis Resources;

Regis Resources major project is the Duketon gold project, located in the Laverton region of Western Australia 350 kilometres north-north east of Kalgoorlie.

The project comprises a tenement package covering over 2,000 square kilometres.

Within this project area is the Moolart Well gold mine and the Garden Well gold mine producing in excess of 300,000 ounces of gold per annum.

These have been augmented with Rosemont gold project coming on stream, which is expected to add an additional 80,000 ounces of gold per annum from the September 2013 quarter.

In the December 2013 Quarter, Rosemount produced 8,259 ounces of gold.

Sandfire Resources;

Very little introduction needed for the DeGrussa copper gold mine, which has become the nearology epicentre of the Murchison region of Western Australia.

At the end of FY2013 Degrussa had produced 68,000 tonnes of copper and 46.000 ounces of gold.

Total Mineral Resources stood at 13.4 million tonnes at 4.7 per cent copper, 1.9g/t gold for 634,000 contained tonnes of copper and 795,000 contained ounces of gold.

Toro Energy.

Toro Energy’s Wiluna mine is set to become Western Australia’s first ever uranium mine following final environment approvals granted in April 2013.

Toro’s Wiluna regional resource contains approximately 54 million pounds of U3O8 (as uranium oxide), with Toro planning to mine the Lake Way and Centipede deposits over a period of 14 years.

The company received a nice Christmas present in the form of a binding Subscription Agreement with RealFin Capital Partners of South Africa for the investment of up to $10 million in new equity in Toro.

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