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Fingerboards project receives new lease on life The Victoria Resources Regulator has renewed two retention licences held by Gippsland Critical Minerals at the Fingerboards mineral sands project. As part of this renewal, the regulator has placed strict conditions on Gippsland with the company to seek a Victorian Government determination on the future requirements of the Environmental Effects Statement, following the project’s failure to gain approval in 2021. Other milestones and performance requirements include thorough engagement with the community and Traditional Owners, climate modelling, environmental baseline monitoring and rehabilitation trials. Failing to deliver these milestones could lead to the cancellation of the licences. Resources Victoria executive director regulatory operations...

De Grey Mining Limited (ASX: DEG) has obtained excellent resource infill drilling results from the Brolga zone at the world-class Hemi gold discovery in Western Australia. The drilling is being conducted as part of the Prefeasibility Study (PFS) of the Mallina Gold Project. Brolga was identified, along with Diucon and Falcon, in a Scoping Study released in October 2021 as one of the early proposed production sources for the Project. Resource definition drilling allows more of the Brolga resource to be classified as JORC Indicated mineralisation. This increases the potential production target and Ore Reserve for the PFS and provides increased confidence in the Project’s projected cashflow from early production sources. Resource definition drilling at Brolga has focussed on the...

BHP records 37% drop in profit despite “strong” financials Despite recording “strong” financial results, the ASX’s largest tock BHP (ASX:BHP) tabled underlying attributable profit of US$13.4b (A$20.9b) for FY23, down 37% from FY22. Revenue was down 17% from FY22 to US$53.8b (A$83.9b) while attributable profit — total operations decreased 58% to US$12.9b (A$20.1b). BHP credits these decreases due to lower prices across iron ore, metallurgical coal and copper. Chief executive Mike Henry commented on the company’s performance. “Our financial results for the year were strong, underpinned by reliable production together with capital and cost discipline as we managed lower commodity prices and inflationary...

“It would have been an absolute cracker of a producer”: Regis’ Jim Beyer on McPhillamys Regis Resources managing director and chief executive Jim Beyer spoke about the future of its McPhillamys mine at the WA Mining Club September luncheon. The NSW gold project was expected to be a valuable asset for the company, featuring a 7mtpa plant with 189moz of contained gold and an expected mine life of over 10 years. “This would have been an absolute cracker of a producer, producing 187,000oz per year on average and ramping up to 235,000oz,” Mr Beyer said. “That’s where we...