Central Asia Metal’s Kounrad copper operation, in Kazakhstan, is now recovering the metal from the Western dumps on the property. In April, the company applied the first acid through an extensive drip irrigation system to an initial leach area on its dump 22 and when QuotedData visited the site last week we observed pregnant leach […]
Wolf Minerals reports that during the March quarter it implemented significant equipment changes and modifications in the processing plant at its Drakelands tungsten/tin mine, in Devon. These modifications have resulted in improvements in ore throughput rates in the plant and in the grade of tungsten concentrate being produced. In addition, open pit mining operations are […]
Caledonia Mining’s Blanket gold mine, in Zimbabwe, produced 12.8koz of gold in Q1 2017, an 18% increase on Q1 2016. Production continues to be supported by access to resources below the 750m level through the development of a second decline into the AR Main ore body as well as through the current decline at AR […]
BlackRock World Mining Trust says that following the completion of the recapitalisation of Banro Corporation, it receive a mix of cash and common equity in Banro for its investment in the gold-linked preferred shares of Banro Group (Barbados) Limited, including accrued dividends. The transaction is expected to complete on 19 April 2017. Based on the market […]
Randgold Resources has proposed an increase in its dividend for 2016 of 52%, to US$1.00 per share, based on a record year and its accumulated cash at the end of the period. The company has paid dividends each year since 2006. The increase comes after the company achieved record gold production in 2016 of 1.25Moz, […]
Caledonia Mining has reported comprehensive 2016 earnings of US$11.1m against US$5.6m for 2015. When adjusted to reflect underlying performance, EPS was US21.4c against US8.8c a year earlier, an increase of 143%. The company has a 49% interest in the 100-year-old Blanket gold mine, in Zimbabwe, although, through the structure of its indigenisation arrangement, it participates […]
Wolf Minerals has reported a net loss after tax for the six months to 31 December of A$37.7m, an increase from the A$24.3m loss reported in the corresponding period of 2015. The total loss (including items affected by exchange rate movements) amounted to A$50.6m (2015: loss of A$31.5m). After revenue from sales of tungsten and […]
Wolf Minerals is to draw down an additional £10m from the 12-month secured bridge loan facility that major shareholder, Resource Capital Fund (RCF), provided in October 2016. This will take the amount received from RCF to £30m. The loans carry interest at rates between 10% and 15% per annum and may be repaid with cash […]
Ariana Resources (AAU:AIM) Completed a resource-focused target generation for the Tavsan Project which is part of the Red Rabbit 50% joint venture with Proccea Construction Co. Sixteen target areas were identified, including the following important drill intercepts: 11m@5.11 g/t Au + 6.83 g/t Ag, 6m@3.37g/t Au + 3.67 g/t Ag and 9m@1.30 g/t Au + 4.32g/t Ag, […]
Amerigo Resources (ARG:TSX) Reported year end and Q4 2016 financial results. Gross tolling revenue for 2106 grew to US$124.4m from US$73.8m for 2015. The increase in revenue was due to a 52% increase in copper production to 56.8m lbs versus 37.3m lbs in 2015. Cash costs declined to US$1.73/lb from US$2.18/lb in 2015 due to […]
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