Responsible mining practices recognized at Australia's largest underground mine
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Quarterly Activities Report for the Period ended 30 September 2024
Ora Gold Limited (ASX:OAU) (“Ora” or the “Company”), a Western Australian gold explorer, is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ending 30 September 2024 (“Quarter”, “Reporting Period”).
Highlights
Drilling and Estimation
- Infill and extensional drilling around the SEZ lode area is expected to yield positive results.
- New additional assays to be incorporated into an updated Mineral Resource Estimate (MRE) allowing for the reporting of a maiden Ore Reserve later this calendar year.
- Ora anticipates that the drilling undertaken recently at Crown Prince will expand the 240,000-ounce MRE through extensions to the SEZ lode and additional lodes, thus will increase the potential mining inventory.
Pre-development Activities
- Several key pre-development activities were completed during the quarter which will underpin environmental and statutory approval documents for the development of the Crown Prince Project including:
- Soils and Landform Assessment
- Flora and Fauna Survey and Assessment
- Waste Rock Characterisation
- Waste Rock Landform Stability Assessment
- Hydrological and Hydrogeological Assessment including aquifer testing
- Geotechnical Modelling for pit wall angle design
- Ongoing Stakeholder Consultation
- Early in the quarter the Company undertook sterilisation drilling (98 x slim RC holes) in areas designated for infrastructure and waste rock landforms. Mine site layout design and project scope has been well advanced.
Westgold Strategic Alliance
- Ora Gold and Westgold Resources are working towards finalizing an Ore Purchase Agreement for the 240,000-ounce Crown Prince deposit, which has a grade of 4.1g/t Au and is located approximately 33km from Westgold's Bluebird Mill, with a processing capacity of 1.6-1.8Mtpa.
- Westgold's involvement brings operational expertise and possible access to infrastructure and processing facilities, helping to reduce risks and expedite timelines.
Corporate
- Ora finished the September quarter with $3.4 million cash and is well funded to pursue its technical programs for completion of Crown Prince mining proposal submissions which are expected to be made in November 2024.
During the Quarter, the Company continued to advance the Crown Prince Project (M51/886) part of Ora’s broader Garden Gully tenure package (Figure 1).
To progress Crown Prince towards production the Company is undertaking the technical work streams required to submit a Mining Proposal, Mine Closure Plan, MON2 (PMP), Works Approval and Clearing Permits to the relevant Government departments (DEMIRS and DWER). Data has been collected to facilitate key submission documents for Crown Prince including major studies: Flora and fauna surveys, aquifer testing and modelling, geotechnical and rock properties testing, waste rock characterisation, soil characteristics and sampling.
Ora has also recently completed resource infill drilling which aims to convert resources inside the future conceptual open pit into from “inferred” to “indicated” JORC categories. The latter category underpinning any future ore reserve and production forecast.
Commenting on key outcomes for the Quarter, Ora CEO, Alex Passmore said:
“We are very pleased to report on an active quarter of positive achievements at the Company’s Garden Gully Gold Project.
Crown Prince Mine planning progressed significantly. Site visits and stakeholder consultation were undertaken, technical work streams were well progressed all in preparation for the Crown Prince Mining Proposal submission. We are targeting first production by June 2025. The finalization of the open pit design and ore reserves will follow the next Mineral Resource Estimate (MRE) which is due in November. Results from infill drilling have seen the timeline on the MRE pushed out from September from November however we are confident these results will add value.
We anticipate a steady flow of news over the coming months, as results from recent infill and extensional drilling at the SEZ lode are reported. The updated Crown Prince MRE, targeted for release in the coming weeks and in any event by the end of November. The Crown Prince MRE currently totals 240,000 ounces at 4.1g/t Au.
The Westgold Strategic Alliance, entered into in May, has facilitated the rapid development of the Crown Prince Prospect and continues to leverage Westgold’s experience and resources in the region.
The recent increase in the gold price further enhances the economic potential of our projects, highlighting the importance of accelerating Crown Prince’s development to capitalise on favourable market conditions. The coming three months will be pivotal, as we aim to finalize many of the technical work streams for Crown Prince's development, and we look forward to updating the market on our outlook for production as these elements come together.”
Click here for the full ASX Release
This article includes content from Ora Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Ora Gold Limited Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Placement to Raise $1 Million
QX Resources Limited (ASX: QXR, ‘QXR’) is pleased to announce that it has received firm commitments to raise $1,000,000 (before costs) through a two-tranche share placement to new and existing sophisticated and professional investors (Placement).
Highlights
- Firm commitments received for a two-tranche placement to raise $1 million (before costs) at $0.005 per share (Placement)
- Strong bids were received for the Placement, with support from new and existing institutional and sophisticated shareholders, and $150,000 participation by directors (subject to Shareholder approval)
- Proceeds from the Placement will be used towards progressing the Company’s Queensland gold projects, Western Australian iron ore and hard rock lithium projects, for working capital purposes, and to identify and assess new complimentary project opportunities
200 million shares will be issued under the Placement at 0.5c per share, being a 16% discount to the Company’s last closing price of $0.006 and a 16% discount to the 15-day VWAP.
- 170,000,000 New Shares to be issued under Listing Rules 7.1 and 7.1A to professional and sophisticated investors to raise a total of $850,000 (Tranche 1); and
- 30,000,000 New Shares in a second tranche to raise a further $150,000 from directors Maurice Feilich and Daniel Smith (and their associates) (Tranche 2).
The Placement includes one free attaching option for every two Shares subscribed for (Attaching Option), exercisable at $0.01 each and expiring 3 years from the date of issue. Tranche 1 Placement Shares will be issued pursuant to the Company’s existing placement capacity under Listing Rules 7.1 and 7.1A.
The Issue of the New Shares under Tranche 2 of the Placement and all the Attaching Options are subject to shareholder approval at a General Meeting to be held in mid-December. Settlement of Tranche 1 of the Placement is due to occur on 6 November 2024.
Click here for the full ASX Release
This article includes content from QX Resource, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Underway at Link Zone, Golden Ridge, NE Tasmania
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce the recommencement of drilling activities at the Company’s 100%-owned Golden Ridge Project located in North-east Tasmania.
Highlights
- First ever diamond drilling commenced at the Link Zone gold prospect within the Golden Ridge Project in NE Tasmania, where the Company is targeting large-scale IRGS type gold mineralisation
- Two diamond drill holes planned, totalling 400m, testing for extensions to high-grade gold veins sampled in the historical Golden Ridge Adit between the Brilliant and Trafalgar prospects
- Previously reported underground sampling in the adit recorded high- grade gold assays including 64.4g/t Au, 37.6g/t Au and 15.9g/t Au
- Flynn Gold to receive up to $70,000 under the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI) to co-fund this drilling program
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/lyazve
This new drilling program will test beneath the historical Golden Ridge Adit, where recent underground sampling of veins recorded results of up to 64.4g/t gold1. The adit is located in the Link Zone prospect area, situated between the Brilliant and Trafalgar prospects at Golden Ridge.
Flynn Gold Managing Director and CEO, Neil Marston commented:
“We are delighted to have commenced our latest drilling program at the Golden Ridge Project in north-east Tasmania.
“This drilling program, which is co-funded under the State Government’s Exploration Drilling Grant Initiative, will see Flynn Gold drilling at the Link Zone beneath the historic Golden Ridge adit, where sampling of mineralised veins earlier this year yielded grades of up to 64 g/t gold.
“This diamond drill program is the first to test this adit, which lies between the historic Brilliant and Trafalgar mines – where we have successfully focused our drilling to date.”
Golden Ridge – Project Background
The Company’s flagship Golden Ridge Project is situated within EL17/2018 in North-east Tasmania (see Figure 1).
Figure 1 – Location of Flynn Gold tenements in NE Tasmania.
Exploration by the Company at Golden Ridge has identified extensive intrusive-related type gold mineralisation (IRGS) extending over a 9km-long zone along the southern contact margin of the Golden Ridge Granodiorite and enclosing meta-sediments (see Figure 2).
The Company’s ongoing work at Golden Ridge is continuing to identify and test multiple exploration targets, confirming the potential for a large-scale gold discovery.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Tartana Positive Metallurgical Copper Testwork
Tartana Minerals Limited (ASX: TAT) (the Company), is pleased to advise that it has received assays and metallurgical testwork based on sampling the D15 metallurgical hole drilled in May this year. D15 hole was a diamond hole drilled at initially PQ size and decreasing to HQ size and drilled to 300 metres depth and was drilled parallel and below TRC098 which had previously intersected 77 m @ 0.62% Cu.
Highlights:
- Tartana D15 assays confirm broad zones of copper mineralisation including 76 m @ 0.60% Cu, 178 m @ 0.40% Cu or 221 m @ 0.35% Cu, all from 31 m depth downhole.
- Excellent copper recoveries (89%) to saleable copper concentrate when testing a sample that was below the resource grade average.
- Bulk Sample Tomra ore sorting results indicate that using this process will result in a 72% grade increase and recover 71% of the contained copper.
- Mineralisation trends indicates the presence of a higher grade zones (1 million tonnes @ 0.82% Cu) enabling the potential for a high grade starter pit with the remaining resource at 8.5 million tonnes @ 0.38 % Cu which can be upgraded if required.
- The results form part of a Scoping Study which will investigate options for third party processing and/or installation of a copper sulphide crushing, milling and flotation plant or a combination of both. This is separate from the current copper sulphate pentahydrate production which is ongoing.
The hole was successfully completed on 13th May 2024. The assay and metallurgical data have now been received and as discussed below, have returned positive results which can be incorporated into a Scoping Study which will also consider processing options. These options include third party processing and/or installation of a copper sulphide crushing, milling and flotation plant and which may be a combination of both.
Tartana Primary Copper Mineralisation
The Company has previously advised the presence of primary copper (chalcopyrite) mineralisation below the Tartana pit floor and in early 2023 reported 45,000 tonnes of contained copper resource to 130 m depth (see ASX release dated 9 February 2023). The details are outlined in Figure 1.
Figure 1. (a) Oxide, transitional and primary (fresh) resource estimation for the Tartana open pit using inverse distance estimation and a 0.2% Cu cutoff grade. (b) Primary copper mineralisation from drillhole D15.
The resource grade and tonnage for the total primary and transitional resources at different cut-off grades are presented in Figure 2.
Figure 2. Transition and primary resources at different cut-off grades (Reported 9th February 2023)
The Company has designed a drilling programme with a target of increasing the current resource to greater than 100,000 tonnes of contained copper which includes drilling to test mineralisation below 130 m depth and also shallower mineralisation on the periphery of the resource.
However, prior to embarking on this drilling campaign, in May 2024 the Company drilled a metallurgical test hole (D15). This was a diamond hole drilled with large diameter core commencing with PQ size and then reducing to HQ core to increase the recovered core sample. It was drilled to 300 metres depth and was drilled parallel and below TRC098 which had previously intersected 77 m @ 0.62% Cu although D15 was drilled beyond the edge of the existing resource. The purpose of the hole was to:
- Test mineralisation trends including continuity downdip from TRC098 and other nearby holes and beyond the existing resource.
- Check assay grade variability between chips from the earlier RC drilling and diamond drill core.
- Inspect geological features such as lithologies, bedding trends and structural logging.
- Provide an adequately sized sample for flotation and recovery testwork to produce a saleable copper concentrate.
- Provide a large bulk sample for testing for Tomra ore sorting
The hole was successfully drilled and completed on 13th May 2024. An outline of the findings is presented below.
Figure 3. Drilling of DD15 in May 2024.
Click here for the full ASX Release
This article includes content from Tartana Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Horizon Minerals
Investor Insight
Horizon Minerals’ near-term cash-flow potential and its significant land package in the prolific Western Australian goldfields with considerable exploration upside position the company to positively leverage the current bull gold market opportunity.
Overview
Horizon Minerals (ASX:HRZ) is an ASX-listed emerging mid-tier gold mining company focusing on a portfolio of highly promising gold projects located in the world-class Western Australian goldfields. The recent merger with Greenstone has added nearly 0.5 million ounces (Moz) of high-grade resource to Horizon, taking its total tally to 1.8 Moz, and resulted in Horizon Minerals total land package of 939 sq km in the Kalgoorlie-Coolgardie district.
The merger brings near-term cash-generating opportunities and adds greater scale to its baseload assets (Boorara) with the high-grade Burbanks deposit. Horizon’s dual-track strategy involves generating immediate cash flows by leveraging a pipeline of development-ready production assets and concurrently advancing the cornerstone assets, Boorara and Burbanks, which have a combined resource inventory of 914 koz at 1.7 grams per ton (g/t) gold with potential to support a profitable, long-life operation.
The recent ore sale agreement with Paddington Gold is encouraging and increases confidence in the management’s ability to generate near-term cash flows. Under the agreement, 1.4 million (Mt) will be processed over a period of 22 months. The agreement allows Horizon to capitalize on high gold prices to generate significant cash flows.
Horizon is also progressing with other projects, including the Cannon gold project and Penny’s Find underground mine, and actively exploring for new discoveries in the Western Australian Goldfields, targeting gold and other commodities such as nickel-cobalt, silver-zinc, PGEs and lithium across its extensive land holdings. Additionally, Horizon holds a significant stake in one of the world’s largest vanadium projects via its investment in Richmond Vanadium Technology, which is listed on the ASX.
Horizon proposes to acquire 100 percent of Poseidon via an all-scrip transaction for AU$30 million to consolidate 1.8Moz gold and highly strategic processing infrastructure for Horizon to transition to the next standalone WA gold producer. The acquisition will combine Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts. The transaction will further result in substantial resource base and regional tenure to a combined JORC mineral resources of ~1.8Moz gold at an average grade of 1.84g/t gold and 422,700t nickel at an average grade of 1 percent nickel. Horizon and Poseidon will have a total of 1,309 sq. km. tenure in an attractive geological position in the WA Goldfields.
Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion and recommissioning of the Black Swan processing plant. The 2.2Mtpa processing facility is strategically located 40 km north of Kalgoorlie with a concentrator readily amenable to processing gold through cost-effective refurbishment and the addition of a new CIL circuit.
Horizon's 30Mt existing gold resources, with 50,000 metres of drilling fully funded to commence drilling in 2025 or 2026, strongly support the conversion of the Black Swan processing plant to a gold plant.
Company Highlights
- Horizon Minerals is an emerging mid-tier gold producer with an extensive portfolio of highly promising gold projects located in the world-class Western Australian goldfields.
- The recently announced merger with Greenstone Resources positions Horizon as a mid-tier gold producer in the Western Australian Goldfields. The combined entity enhanced Horizon’s portfolio with two complementary cornerstone gold assets — Burbanks and Boorara (combined resource of 914,000 oz).
- Mineral resource updates after the merger include 1.8Moz gold, 20.2Moz silver, 104kt zinc, 283kt nickel, 40.5kt cobalt and 296.2kt manganese.
- Changes to the gold MREs include:
- Addition of 297,650oz from Burbanks open pit
- Addition of 167,920oz from Burbanks underground
- Addition of 13,000oz from Pinner
- Addition of 3,000oz from Monument
- Reduction of 20,240oz from Boorara
- Open pit mining has commenced at the Boorara gold project on August 2024 and the first ore was exposed and mined in late September 2024.
- Horizon is also progressing with other projects, including the Cannon and Penny’s Find underground mines.
- Amidst the current record gold prices, Horizon seeks to capitalize on this opportunity by advancing its substantial resource endowment towards development, thereby generating cash flow.
Key Projects
Boorara Gold Project
The Boorara gold project is located 15 km east of Kalgoorlie-Boulder in the Western Australian goldfields. Over the past decade, a substantial amount of reverse circulation and diamond drilling has been carried out at Boorara. The project includes a JORC 2012 mineral resource estimate (MRE) by Optiro (now Snowden Optiro), which reported a total of 11.03 Mt grading at 1.26 g/t gold, amounting to 448,000 ounces.
The company views Boorara as a substantial baseload feed source that could be enhanced by lower tonnage, higher-grade feed to sustain a standalone milling facility. This is where the recent acquisition of Greenstone becomes important. Boorara can be supplemented by higher-grade feed from Greenstone’s Burbanks deposit to support an integrated operation.
The Independent JORC (2012) Ore Reserve for Boorara, completed by AMC Consultants, shows a financially viable project highlighted by an open pit mine design producing 1.24 Mt at a fully diluted grade of 1.24 g/t gold for 49.5 koz over an approximate 14-month mine life, and ore sale agreement at 92.5 percent metallurgical recovery produces 45.8 koz recovered.
Nimbus Silver-Zinc Project
The 100 percent owned Nimbus silver-zinc-lead-gold deposit is located 15 kilometres east of Kalgoorlie-Boulder in Western Australia within the Kalgoorlie Terrane. The project's current mineral resource estimate (JORC 2012) includes 12.1 million tons at 52 g/t silver, 0.2 g/t gold and 0.9 percent zinc containing 20.2 million oz of silver, 78,000 oz of gold and 104,000 tons of zinc using lower cut-off grades of 12 ppm for silver, 0.5 percent for zinc and 0.3 g/t for gold over a 2 metre down hole composite. Within this global resource, the Nimbus project has a high-grade silver and zinc resource of 255,898 tons at 773 g/t silver and 13 percent zinc.
A concept study has confirmed the optimal economic development pathway by mining the higher-grade lodes and generation of a silver/zinc concentrate. A programme of work (POW) has been approved and drilling to test the exploration target is expected to be undertaken in the first half of 2025. The Nimbus project is 2 km east of Horizon's cornerstone Boorara project and 6.5 km north-northwest of Golden Ridge, both historic gold mining centres.
Burbanks Gold Project
The Burbanks gold project is situated 9 km southeast of Coolgardie, Western Australia. The project encompasses the Burbanks Mining Centre and more than 5 kilometers of the highly promising Burbanks Shear Zone, historically the most significant gold-producing structure within the Coolgardie Goldfield. Previous underground production at Burbanks has surpassed 420,000 oz to date.
Burbanks currently hosts a total resource of 6.1 Mt @ 2.4 g/t gold for 466 koz, including underground of 1.2 Mt @ 4.4 g/t gold for 168 koz. Burbanks is underexplored and remains open in all directions for future growth.
Cannon Underground Project
The Cannon gold project is located 30 km east-southeast of Kalgoorlie-Boulder. It is a fully permitted project with a pre-feasibility study completed in 2022, which shows strong project economics with a free cash flow of AU$10.1 million over the mine's life. The company has finished commissioning a dewatering pipeline and a pumping system, representing a major milestone in the advancement of its Cannon Underground project. Discussions with mining contractors and potential JV mining partners are underway. First ore production from the Cannon Project is expected to commence in Q4 2024.
Penny’s Find
Penny’s Find is about 50 km northeast of Kalgoorlie in the Eastern Goldfields of Western Australia, near the company’s wholly-owned Kalpini gold project. It comprises a granted mining lease and other associated leases covering 91 hectares. The mineral resource estimate updated in December 2023 boasts 63,000 ounces of gold in the indicated and inferred category. A pre-feasibility study for exploitation using underground mining methods is currently underway. This study will include mine design and financial analysis.
Rose Hill
Rose Hill is 0.5 km southeast of Coolgardie and 35 km west of Kalgoorlie-Boulder, on the western edge of the Archean Norseman-Menzies Greenstone Belt. The current JORC 2012 resource at Rose Hill contains 93,300 oz , comprising an open-pit mineral resource of 0.3 Mt grading 2.0 g/t gold for 18,400 oz, and an underground mineral resource of 0.5 Mt grading 4.6 g/t gold for 74,900 oz. Nearly 70 percent of the resource is in the measured and indicated JORC categories.
Kalgoorlie Regional
Horizon owns several promising tenements within the Kalgoorlie region. These project areas include the greater Boorara-Cannon project area, Lakewood, Binduli-Teal project area, Kalpini, Balagundi-Kanowna South and Black Flag.
Coolgardie Regional
Horizon manages several promising tenements within the Coolgardie region, including Rose Hill, Brilliant North and Yarmany.
Management Team
Ashok Parekh – Non-executive Chairman
Ashok Parekh has over 33 years of experience advising mining companies and service providers in the mining industry. He has spent many years negotiating mining deals with publicly listed companies and prospectors, leading to new IPOs and the initiation of new gold mining operations. Additionally, he has been involved in managing gold mining and milling companies in the Kalgoorlie region, where he has served as managing director for some of these firms. Parekh is well-known in the West Australian mining industry and has a highly successful background in owning numerous businesses in the Goldfields. He was the executive chairman of ASX-listed A1 Consolidated Gold (ASX:AYC) from 2011 to 2014. He is a chartered accountant.
Warren Hallam - Non-executive Director
Warren Hallam is currently a non-executive director of St Barbara Limited and Poseidon Nickel Limited, and non-executive chairman of Kingfisher Mining Limited. Hallam has a built a strong track record over 35 years in operations, corporate and senior leadership roles across multiple commodities. This includes previous Managing Director roles at Metals X Limited, Millenium Metals Limited and Capricorn Metals Limited. Hallam is a metallurgist with a Master in Mineral Economics from Curtin University.
Chris Hansen – Non-executive Director
Chris Hansen is a multidisciplinary metals and mining professional, combining core technical fundamentals with a strong finance and project development mind-set. Having initially focused on building a solid technical foundation with industry majors such as Fortescue Metals Group and Barrick Gold, Hansen later joined a pre-eminent London-based mining private equity fund developing robust investment skills, project development expertise, market knowledge and strong industry relations. Since returning to Australia, Hansen has leveraged his experience in both public and private markets, most recently having led mining business development activities for one of Australia’s largest private investment groups. He holds a BSc in geology from the University of Auckland, and an MSc in Mineral Economics from Curtin University.
Grant Haywood – Managing Director and Chief Executive Officer
Grant Haywood brings over three decades of experience in both underground and open-cut mining operations. During his career, he has served in senior leadership capacities in various mining companies, guiding them from feasibility through to development and operations. His experience spans various roles within junior and multinational gold mining companies, predominantly in the Western Australian goldfields, including positions at Phoenix Gold, Saracen Mineral Holdings, and Gold Fields. He is a graduate of the Western Australian School of Mines (WASM) and has also earned a Masters in Mineral Economics from the same institution.
Julian Tambyrajah – Chief Financial Officer & Company Secretary
Julian Tambyrajah is an accomplished global mining finance executive with more than 25 years of industry expertise. He is a certified public accountant and chartered company secretary. He has served as CFO of several listed companies including Central Petroleum (CTP), Crescent Gold (CRE), Rusina Mining NL, DRDGold, and Dome Resources NL. He has extensive experience in capital raising, some of which includes raising US$49 million for BMC UK, AU$122 million for Crescent Gold and AU$105 million for Central Petroleum.
Glenn Poole – Chief Geologist
Glenn Poole is a geologist with 15 years’ experience in exploration and production environments, having principally worked within orogenic gold systems for several major mining companies in Western Australia. Poole brings extensive experience in structurally controlled narrow vein gold and sulphide-associated gold deposits. He has previously held senior management roles with major Australian gold producer, Northern Star, during which time, he played a pivotal role in the identification and definition of new ore resources and mining fronts at both the Paulsens and Kundana operations. Most recently, Poole was the senior geologist at Firefly Resources (ASX:FFR), principally responsible for setting exploration strategy and leading the definition of the maiden JORC 2012 resource at Yalgoo. Poole holds a Bachelor of Science Geology & Geography from The University of Otago, and a Master of Business Administration from La Trobe University.
Newmont Cadia Awarded The Copper Mark and The Molybdenum Mark
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces its Cadia operation in Orange, NSW (Australia) has achieved The Copper Mark and The Molybdenum Mark following an independent assessment, recognising responsible production practices at Australia's largest underground mine.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241027446724/en/
Cadia operations, Orange, New South Wales, Australia. (Photo: Business Wire)
Cadia is Newmont's first site globally to receive the award after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, amongst others.
Newmont's Cadia mine is the nation's second largest copper producer and the third site in Australia to receive The Copper Mark. Cadia is the only operating mine producing molybdenum in Australia and thus the only mine to receive The Molybdenum Mark, a critical mineral used in industry and defense.
Newmont Chief Safety and Sustainability Officer Suzy Retallack said, "Meeting growing global demand for copper brings an obligation to sustainability and responsible mining which prioritises environmental stewardship, social responsibility and economic development for the communities in which we operate."
"We take great pride in being at the forefront of the copper industry with The Copper Mark, which highlights our dedication to responsible production and transparency," she said.
"This means our global customers can now choose to source copper concentrate from an independently evaluated mine that meets the highest standards in environmental, social, and governance practices, responding to the increasing demand for sustainable supply chains."
In 2020, Cadia entered into a 15-year renewable Power Purchase Agreement (PPA) with Tilt Renewables Limited to buy 55% of the wind farm's output. Now fully operational, Rye Park is supplying approximately half of Cadia's power needs.
"Cadia's commitment to the community supported an investment of almost $6 million AUS in the 18 months to December 2023 to support community projects, education and infrastructure," Retallack said.
The Copper Mark's Executive Director Michèle Brülhart said, "Congratulations to the team of Cadia for being the third site in Australia to achieve The Copper Mark and the first site to get The Molybdenum Mark. With this, about 35% of Australia's copper is produced at sites that have obtained The Copper Mark."
The Copper Mark is the leading assurance framework to promote responsible, sustainable and ethical practices across the copper, molybdenum, nickel and zinc value chains.
Cadia is located approximately 16 miles (25 kilometres) south-southwest of Orange in Central West New South Wales (NSW) and 250 kilometres west of Sydney, and comprises the Cadia East underground mine, which is one of the largest gold and copper deposits in the world, and Ridgeway Underground Mine, currently in care and maintenance.
About Newmont
Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Australia, Africa, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20241027446724/en/
Media Contact
Rosalie Cobai
australiacommunications@newmont.com
Investor Contact – Asia Pacific
Natalie Worley
apac.investor.relations@newmont.com
Investor Contact – Global
Neil Backhouse
investor.relations@newmont.com
News Provided by Business Wire via QuoteMedia
Top Stories This Week: Gold, Silver Prices Rise as BRICS Nations Meet in Russia
It was another record-setting week for gold, which rose to nearly US$2,760 per ounce on Wednesday (October 23). It dipped lower after that, but finished Friday (October 25) close to the US$2,750 level.
Experts continue pointing to familiar factors as price drivers. Central bank demand is providing support, while safe-haven buying is also in the mix as conflict continues between Russia and Ukraine, as well as in the Middle East.
Aside from that, the fast-approaching US election is adding to gold's appeal.
Silver was also on the move, approaching the US$35 per ounce mark. While the white metal is known to lag behind gold and currently remains well off its all-time high of nearly US$50, it touched levels not seen since early 2012.
As both precious metals climb, market participants are keen to know whether these rapid increases are sustainable.
Keith Weiner of Monetary Metals believes gold's price point has become more durable due to a key shift in the sector.
"We are in a different market now — and this market now is not being driven by futures, it's being driven by metal. So as the price has gone up it's been driven ... by the buying of metal, which means that the fundamental (price) keeps moving up. And so the fundamental (price) is above the market price and the market price moves up," he said.
"It doesn't mean there can't be a correction ... it's just saying that there's a tension in the market which tends to be pulling upward, which is evidence of a bull market, obviously," added Weiner during the conversation.
Click here for the full interview with Weiner, which also includes his thoughts on the outlook for silver.
Bullet briefing — What happened at the BRICS Summit?
The latest BRICS Summit, held this week in Kazan, Russia, was a major focus for globally minded investors this week. The theme of the much-watched gathering was "Strengthening Multilateralism for Just Global Development and Security," and it finished with the release of a 134 item declaration from participants.
Among the many points listed, the BRICS nations highlighted their commitment to enhancing financial cooperation between members, pointing to the benefits of cross-border payment instruments and to the use of local currencies in transactions between BRICS countries and their trading partners.
"We recognise the widespread benefits of faster, low cost, more efficient, transparent, safe and inclusive cross-border payment instruments built upon the principle of minimizing trade barriers and non-discriminatory access" — Kazan Declaration
Images are circulating of Russian President Vladimir Putin holding a mockup of a "BRICS bill," but it's worth noting that the document doesn't actually mention the creation of a BRICS currency. This has been a hot topic with various resource sector experts, who have discussed the role gold could play in this type of setup.
Putin did, however, emphasize his concerns about the weaponization of the US dollar, presenting Russia's proposed BRICS Bridge messaging system. It's been described as an alternative to SWIFT, a messaging system used by banks around the world to send and receive money transfer instructions and other information.
"We are not rejecting or fighting the dollar. But if we are not given the chance to use it, what can we do? We are then forced to look for alternatives" — Vladimir Putin, Russia
Various Russian banks were ousted from SWIFT after the country's invasion of Ukraine in 2022.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Latest News
Ora Gold Limited Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.