PNG minerals explorer Gold Mountain Limited believes it is on target to find the main mineralised zone at its new K-Lam copper prospect at Mongae Creek in the PNG Highlands. The company said assay results from its latest drill hole (MCD002) and results of its reconnaissance exploration programme of the newly discovered K-Lam prospect within its flagship Wabag project area have shown an improvement in grade on previous resuls. Assay
A questionnaire by the PNG Chamber of Mines and Petroleum has unearthed a range of benefits that the Fly-in/Fly-Out (FIFO) operating model delivers to PNG workers, their families and the broader community. Distributed to mining projects with PNG employees engaged under FIFO arrangements, the questionnaire revealed inspiring stories and long-term benefits for employees from across PNG. Thousands of workers within Papua New Guinea’s mining industry are employed on a FIFO
EY’s landmark Yellow Goods Report has this year found tightening demand for mining and construction equipment and labour. “While we have not returned to mining boom territory, we are seeing a tightening for key goods such as tyres, which was a real pain-point during the last boom,” said Scott Grimley, EY Oceania Mining & Metals Leader. Yellow Goods – a term for construction, earth-moving and quarrying equipment, including
K92 Mining Inc. has announced that an updated resource estimate has been completed at its Kora North deposit, based on results from underground grade control, exploration diamond drilling and face sampling. The updated resource estimate comprises a Measured Resource of 154,000 tonnes @ 18.7 g/t Au, 8.9 g/t Ag and 0.5% Cu; an Indicated Resource of 690,000 tonnes @ 11.6 g/t Au, 14.1 g/t Ag and 0.8% Cu and an
WOODLARK Island miner Geopacific Resources Limited has announced that new study results have confirmed the viability of a development of the historic this Woodlark Gold Project. The company said a newly completed Definitive Feasibility Study (DFS), builds on the March 2018 Pre-Feasibility Study (PFS) and the November 2018 Woodlark Ore Reserve Update, in delivering strong economic and technical outcomes for a viable project. The Woodlark DFS completed by Lycopodium Pty
SUBSEA mining proponent Nautilus Minerals Inc. has received a US$770,000 loan from Deep Sea Mining Finance Ltd under a previously announced loan agreement between the company, two of its subsidiaries and the lender which provides for a secured structured credit facility of up to US$34 million. Pursuant to the Loan Agreement, Nautilus has issued to the Lender an additional 3,307,560 warrants of the company in connection with the US$770,000 loan.
WOODLARK Gold Project operator Geopacific Resources Ltd says it had identified some significant cost cutting improvements in its plan for commercialising the Woodlark Island based project. The company has announced that it has pushed back the release of the Woodlark Gold Project’s Definitive Feasibility Study (DFS) to later in the current December quarter in order to incorporate the benefits identified since the March 2018 Pre-Feasibility Study (PFS). Geopacific managing director,
PNG minerals company Highlands Pacific Limited has confirmed that Ramu project operator China’s Metallurgical Corporation of China Limited (MCC) is examining a potential US$1.5 billion expansion of the nickel and cobalt project near Madang. Highlands, which holds an 8.56% interest (increasing to 11.3% upon repayment of project loans to Metallurgical Corporation of China Limited (MCC)) in Ramu, said further details of any proposed expansion are still being finalised. The project has
FRONTIER Resources Limited has announced that the Warden’s Court Hearing for exploration licences EL-1595 (Bulago) and EL-2356 (Muller Range) in the Southern Highlands Province was very successful. The Warden’s Court Hearings to consult with landowners are part of the normal tenement renewal process which will now proceed to the Mining Advisory Council for their recommendation to the Minister for Mining. Frontier said informal discussions with landowner groups were initially held
SUBSEA mining proponent Nautilus Minerals Inc. reports that it has recently made progress on financing plans to develop the Solwara 1 Project off the PNG coast. Nautilus has entered into a financial advisory services agreement with Metals Logistics Investments Limited (MLI), a Dubai registered advisory firm focusing on companies in the resource sector with professionals in the UK, Switzerland and the US. MLI is advising Nautilus on alternative funding solutions.