Resource stocks (as opposed to mining stocks) tend to be companies with a resource of material, with no need to “mine” to get to it.and data on Pan European listed mining and resource stocks. Mining is a process of extraction of materials (the resource) from the earth, usually (but not always) from an ore body, vein or seam. Any material that cannot be grown from agricultural processes, or created artificially in a laboratory or factory, is usually mined.
KEFI Minerals has reported that it is likely to fund the whole of the US$120 million required to build a mine at its 100%-owned Tulu Kapi gold project, in Ethopia, at the project level through a combination of debt, gold streaming and equity funding as well as the participation of the Government of Ethiopia, which […]
Nord Gold, one of the fastest growing gold companies in the world, updated investors on the company’s plans on Monday during the first morning of the prestigious Denver Gold Forum, in Denver, US. Since producing 193 koz in 2008, the company’s gold production has grown at a compound annual growth rate of 31% to 985 […]
Dalradian Resources Inc is raising gross proceeds of C$35 million (approximately £17 million) to fund work towards completion of a feasibility study for its Curraghinalt underground mine project, in Northern Ireland. The work includes 30,000 m of infill drilling to increase confidence in resources, with a resource update expected Q1 2016. The company expects to […]
EMED Mining has produced the first copper concentrate from its new Proyecto Riotinto copper mine, in Spain, after securing the final permit for mining in July. The mine is now ramping up to its Phase 1 ore production rate of 5 Mt/y and management expects to be able to expand this by 50% by the […]
Anglo American Platinum (Amplats), part of the Anglo American group, has agreed to sell its Rustenburg platinum operations to South African gold producer, Sibanye Gold. The total consideration payable is a minimum of R4.5 billion, consisting of an upfront payment of R1.5 billion in cash or shares and a deferred consideration equal to 35% of […]
Glencore has suspended mining at two of its higher cost copper mines – Katanga, in the Democratic Republic of Congo, and Mopani, in Zambia. The operations are expected to remain closed for 18 months until the completion of the expansionary and upgrade projects, which are planned to reduce operational costs. The suspension of these operations […]
Condor Gold has initiated a formal strategic review of its business in the light of the relatively low gold price and the lack of appetite for equity financing in the junior exploration sector. The company is a gold explorer which has developed the high grade La India project, in Nicaragua, through to the Pre-Feasibility Study […]
Ariana Resources has commenced construction of its Kiziltepe gold mine, part of the 70%-owned Red Rabbit project, in western Turkey. When fully operational in H2 2016, the US$31 million open pit mine is expected to produce 20 koz/y of gold for 15 years at an average cash cost of US$600/oz. The pit contains 140 koz […]
Wolf Minerals has produced the first tungsten concentrates at its new Drakelands open pit mine at the Hemerdon project, in Devon. The concentrates will be sent to Global Tungsten and Powders, in the USA, and Wolfram Bergbau und Hütten, in Austria in terms of Wolf’s offtake agreement. Although this is a major milestone in […]
Nord Gold increased its net profit in H1 2015 to US$134.7 million, up by 83% from H1 2014. EPS were US$0.33 against US$0.17 in the previous half year. EBITDA for H1 2015 was US$332.1 million, up 36%. The main reasons for the improved performance were an increase in gold production coupled with a dramatic reduction […]
Minerals royalty company, Anglo Pacific Group, reported a loss after tax of £8.8 million (5.8p/share) for the six months to end June 2015, an improvement from the £23.0 million loss (20.8p/share) reported in the corresponding period of 2014. Results were impacted by writedowns on the valuation of its Kestrel coal royalty (£9.1 million on lower […]
BHP Billiton has posted profits for the year ended 30 June 2015 down 86% from the previous financial year to US$1.9 billion or US$0.36/share. Excluding exceptional items, attributable profit was US$7.1 billion, a reduction of 47%. Group revenue fell from US$56.8 billion to US$44.6 billion (from continuing operations) with iron ore the hardest hit sector, […]
KAZ Minerals has reported EBITDA of US$88 million for H1 2015, 55% down from the corresponding period of 2014. However, the company recorded a net loss of US$0.03/share against a net loss of US$0.31/share in HI 2014 (from continuing operations). Earnings in 2014 were impacted by a US$181 million loss from devaluation of the Tenge […]
RAB Special Situations has prepared its interim accounts as though it is no longer a going concern as it prepares itself for a wind up vote due at the end of 2015. Its NAV improved nevertheless from 11.43p to 12.61p as the underlying master fund recorded a 9.36% gain in NAV. However, since 30 June 2015, the […]
Following the publication of a definitive feasibility study in June this year on its 100%-owned Tulu Kapi gold project, in Ethopia, KEFI Minerals is now reviewing bids from prospective Engineering, Procurement and Construction Management (EPCM) contractors as well as looking at options to lower the estimated peak capital investment of US$130 million to around about […]
Dalradian Resources is moving directly to a feasibility at its 100%-owned Curraghinalt gold project, in Northern Ireland after originally planning to produce a pre-feasibility study by the end of 2015. The company now plans to expand its infill drilling programme and conduct underground exploration to complete a resource update in 2016. Depending on the results […]
Centamin has reported EPS of USc1.65 for Q2 2015, up 67% from the corresponding quarter of 2014, but down from the USc2.50 earned in Q1 2015. Gold production rose 32% yoy, to 108 koz, and remained broadly in line with the first quarter of 2015. On the back of the higher production at its Sukari […]
Stratex International has completed a trenching programme at the Madina Bafé prospect at its 85%-owned Dalafin gold project, in Senegal. Channel-sampling results include 4.0 m at a grade of 1.40 g/t gold and 6.0 m at 0.86 g/t gold in highly weathered material (ie potentially leached and thus lower grade than unweathered material). The company […]
Glencore has put a number of its opencast operations, and large portions of the coal processing plants, at its Optimum colliery, in South Africa, on care and maintenance and is retrenching 600-700 workers. This comes as the company commences “business rescue” proceedings for Optimum. Optimum supplies coal to the Hendrina power station owned by State […]
Ferrexpo, the iron ore pellet producer with mines in the Ukraine, has reported a 45% fall in EBITDA for H1 2015, from the corresponding period of 2014, to US$176 million, with EPS down 44% to USc19.6. Despite an 8% increase in pellet production, to a record 5.8 Mt, and a 30% reduction in cash costs, […]
Xtract Resources has intersected a second high grade gold reef system (’Reef system B’) at the Colin mining area at its developing Chepica gold and copper mine, in Chile. The new system grades 3.9 g/t over a 4.1 m width in situ and to-date the company has developed 10 m along strike. Xtract believes that […]
Antofagasta has agreed to acquire a 50% interest in Barrick Gold’s Zaldivar copper mine, in Chile, for US$1,005 million in cash. Payment terms are US$980 million in cash upon closing and five annual payments of US$5 million per year, starting in 2016. Antofagasta will fund the acquisition from its balance sheet. As at 31 December […]
Wolf Minerals reports that commissioning of its Hemerdon tungsten/tin project continues on schedule with the first ore introduced into the plant in June 2015. The company expects the engineering construction firm to complete ‘Performance Tests’ in August before handing over the operation with first product scheduled for delivery to customers in September. Thereafter Wolf will […]
Antofagasta’s copper production in H1 2015 was 303.4 kt, almost 13% lower than the same period in 2014 primarily due to lower grades (expected) and lower throughput at the Los Pelambres mine, Chile, where the company lost 8 kt of copper production in Q1 2015 as a result of disruption caused by protestors. At the […]
Vedanta Resources has started to develop the US$630 million Gamsberg zinc project, in South Africa, located some 20 km east of its existing polymetallic underground Black Mountain mine. The open pit mine, which is expected to produce its first ore in early 2018, will produce a zinc concentrate, which it will deliver to the company’s refinery […]
Aquarius Platinum’s attributable PGM production from its two operating mines and one tailings retreatment plant rose 6% in the June 2015 quarter compared with the June 2014 quarter, to 88.8 koz. Most of this increase was due to a 6% rise in production at its primary Kroondal mine, to 56.0 koz (attributable, 50%-owned), a record […]
Petra Diamonds produced 3.2 million carats in the financial year ended 30 June 2015, up 2% from the previous year and in line with company guidance. The company expects production to increase to 3.3-3.4 million carats in FY2016 and targets production of 5.0 million carats by FY2019 as mining at the Cullinan mine moves to […]
Acacia Mining’s H1 2015 earnings fell 64% from H1 the previous year to US$14.8 million. Despite increasing gold production by 6%, to 367.3 koz, the combination of a lower received gold price (US$1,200/oz against US$1,290/oz previously) and higher All-in Sustaining costs (ASIC) (up marginally to US$1,133/oz) were principally responsible for the fall in earnings. Results were also […]
Shanta Gold produced 14,664 oz of gold in Q2 2015, some 8% higher than Q1 but significantly down from Q2 2014 production of 21,940 oz. Cash Costs were US$834/oz.(up 10% on Q2 2014) and All in Sustaining Costs (AISC) US$1,157/oz (up 21%). The main reasons for the decrease in production, and increase in costs, were […]
Polo Resources has just published its interim results for the six months ended 31 December 2014. You might remember that it didn’t publish its NAV per share as at the end of June in its final accounts and there’s no mention of it here, although helpfully they tell us that the NAV has risen from […]
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