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THE first stage of the exploration program at Triton Minerals’ graphite project in Mozambique has begun, with equipment on the way and staff on the ground at the Balama North prospect in the Cabo Delgado province. The Balama North licence is expected to be highly prospective because of its proximity to known graphite mineralisation, such as that of Syrah Resources’ Balama East deposit, which lies about 3km southeast of the licence boundary. In March, Triton and joint venture partner Grafex Limited appointed Jigsaw Geoscience to assist with the initial mapping, soil sampling and trenching program, with an emphasis on the Balama North licence and high priority zones. The information collected during the first phase will allow the joint venture partners...

A map of Yancoal’s Mount Thorley Warkworth operation. Image: Yancoal.   BY REUBEN ADAMS   YANCOAL’S Australian thermal coal sales surged 123 per cent year-on-year in the March quarter, as it enjoys its second quarter of full output from the newly purchased $US2.9 billion Coal and Allied assets.   Yancoal, now Australia’s largest independent coal producer, saw equity share of thermal coal sales from its Australian mines jump to 6.97mt from 3.12mt in the year ago period, but still down by 14 per cent from the December quarter. Its equity share of metallurgical coal sales volumes of 2.25mt was a 19 per cent increase on the year prior. In NSW, Moolarben saleable coal production was up 53 per cent on...

AUSTRALIAN-BASED Southern Gold has announced a binding agreement for the placement of 71,428,571 ordinary shares in the company at 14c per share. The objective is to raise $10m toward doubling the exploration and drilling program in South Korea. AIM-listed investment group, Metal Tiger PLC, will invest about $3.33m, with an agreement for a cornerstone position in the placement and the right to nominate one director to the company. Southern Gold owns 100pc of several high-grade gold projects in South Korea and has interests in other gold production projects in the region. The nominee for this position will be Terry Grammer, an award-winning geologist with more than 40 years’ experience in mining and mineral exploration across the globe. Mr Grammer discovered...