Tag: gold

Red 5 Limited (ASX: RED) remains on track for first gold production in the current quarter at its 100%-owned 2.4Moz, 16-year life-of-mine King of the Hills (KOTH) Gold Project, after achieving further key construction and operational readiness milestones during March 2022. Construction and Commissioning Key construction progress for March included: Commissioning of the crushing circuit has been completed; Commissioning of the gas pipeline has been completed; Commissioning of the power station has been completed to the stage where it is ready to power the process plant; Installation of the solar panels has been completed and wiring is being finalised; and Commissioning of the SAG mill has commenced, with the current critical path to first gold being the commissioning of the…

Red 5 Limited’s (ASX: RED) mining contractor, Macmahon Contractors Pty Ltd has commenced open pit mining at the 100%-owned 2.4Moz, 16-year life-of-mine King of the Hills (KOTH) Gold Project in Western Australia. With the KOTH Project now well past 83% completion (at the end of December 2021), Red 5 is firmly on track to deliver first gold production through the new state-of-the-art KOTH processing plant in the June Quarter. The commencement of open pit mining is in-line with the project execution schedule, with underground mining expected to commence on schedule in early April 2022. Macmahon is progressively mobilising to KOTH, establishing infrastructure, and ramping up its site workforce according to plan. The initial open pit mining fleet consists of one…

Red 5 Limited’s (ASX: RED) project, King of the Hills (KOTH) is progressing on schedule for first gold in the June Quarter of 2022. It’s located in WA’s Goldfields-Esperance region with a 16-year life-of-mine. The geology of KOTH is unique in the distribution of ore within intrusive rock types throughout the mafic and ultramafic host rocks, and the relative softness of this ore. The confidence and understanding of both the geology and metallurgy at KOTH are exceptionally high. KOTH’s construction has remained within budget, with several key achievements in the construction progress during August 2021: All the SAG mill components have been delivered to site, sole plates are in place on the foundation, and assembly of the mill shell and…

Intertek (FTSE: ITRK) opened The Intertek Minerals Global Centre of Excellence, a world-class minerals laboratory in Maddington, southeast of Perth, on Thursday August 26, 2021. Intertek is a leading Total Quality Assurance provider to industries throughout the world with a network of more than 60 laboratories and offices in 25 countries. The newly opened will be Intertek’s largest, at 20,000m2. Previously, Intertek’s facilities and its 500+ employees in Perth were distributed across 11 sites throughout Maddington. This recent move will house Intertek’s staff in one location along with updated, state-of-the-art technology for assaying. The upgrades to technology, mostly through robotics and automation, will not only increase the capacity of The Centre but also increase the safety and wellbeing of staff.…

WA-based Future Institute of Australia has been awarded a $1m four-year contract to deliver nationally recognised Australian leadership training for up to 140 identified leaders at Centamin’s flagship asset, the Sukari gold mine in Egypt. Centamin is an established gold producer with premium listings on both the London and Toronto stock exchange. It is the only modern-mechanised gold mine in Egypt, producing greater than 400,000oz per annum. As of December 31, 2020, more than 95% of the Sukari workforce are Egyptian and 67% of the leadership positions are held by Egyptians. Centamin is committed to increasing this to 77% in 2022 by empowering its future leaders with the appropriate skills, knowledge, and capability to lead their teams. It chose to…

Bardoc Gold has taken further steps towards its objective of joining the ranks of Australia’s mid-tier gold producers during the December Quarter, with its transition to developer status now imminent and its development pathway substantially de-risked. The company has consolidated a 247km2 ground position 40km north of Kalgoorlie, with more than 3Moz in Mineral Resources. The March 2020 PFS envisaged a 135kozpa operation over an initial eight years from four cornerstone deposits. Bardoc completed a transformational capital raising in July 2020, which was strongly supported by a number of leading Australian and international institutional and strategic investors. The capital raising increased Bardoc’s cash reserves to over $35m, putting it in a very strong position as it makes the transition from…

Titan Minerals Ltd (ASX:TTM) this week came to agreement to divest its non-core assets in Peru. In doing so, the company is now freed up to focus on its key Ecuadorian assets, including the development of its flagship Dynasty Gold Project and the Copper Duke Project in Ecuador. Dynasty is an advanced stage exploration project located in the Loja Province of southern Ecuador currently hosting a 2.1Moz Au foreign resource estimate averaging 4.5g/t gold reported in compliance with Canadian NI 43-101 standards. Titan reported assay results in July for diamond drilling completed at the Dynasty Gold Project that further support an emerging large-scale gold system and extend known mineralisation that remains open in multiple directions and at depth. The commencement…

China’s latest sanctions against the US are the latest factors keeping the gold price at near record highs – above $2,000/ounce. The strength in gold is widely expected to continue given the ongoing uncertainty around the longer-term economic impacts of the COVID-19 pandemic, the large government stimulus packages, uncertainty in equity markets, and negative real yields in much of the developed world. Given that backdrop, some forecasters are now anticipating a rise to $3,000/ounce or more. While gold’s rise has been well publicised, the recent strength in silver prices has been largely overshadowed. Silver gained 35% in July and has continued its strength into August. Relative to historical levels, silver remains cheap compared to gold and looks due to catch up.…