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Refreshed Lake Maitland uranium study impresses
Published: 18 Jun 24
Australian company Toro Energy has announced the outcomes of a refreshed scoping study for the Lake Maitland deposit, at Wiluna in Western Australia, showcasing “impressive outcomes”. The study, which re-examines its 2022 predecessor amid improved uranium oxide (U3O8) prices, produced a 37% uplift in pretax net present value to A$832.8-million, with a 2.1- year payback period and strong free cashflow projects.
New Talisman secures processing plant
Published: 18 Jun 24
ASX- and NZX-listed New Talisman Goldmines has agreed terms to purchase a processing plant for the Talisman mine project, in New Zealand. The plant, which uses modular gravity separation, has a 100 t/d capacity, which will be sufficient for the near-term production forecast of the mine, the company said in a statement.
An image of CESA CEO Chris Campbell Latest Cesa survey highlights urgency of joint public, private effort on infrastructure
Published: 18 Jun 24
Consulting Engineers South Africa (Cesa) on Tuesday released its Bi-Annual Economic and Capacity Survey (BECS) findings, revealing a stark 22% decline from July to December of 23, marking the lowest level since 2019, at 32. The ongoing downturn persisted into early 2024, dropping further to 30 amid political uncertainty, corruption, and infrastructural constraints, according to Cesa.
Central banks to increase gold holdings in next 12 months - World Gold Council Central banks to increase gold holdings in next 12 months - World Gold Council
Published: 18 Jun 24
More than eight in ten, or 81%, of respondents to the 2024 Central Banks Gold Reserves survey said they expect reserve managers to continue to increase their gold holdings in the next 12 months. This data, released by the World Gold Council, reflects the highest confidence level recorded since the survey began in 2019. Despite high gold prices and two successive years of record central bank purchasing, nearly 30% of central banks plan to add to their own gold reserves within the next year. This trend highlights a persistent favourable view of gold among reserve managers, who see the precious metals as a hedge against political and economic uncertainty.
Flashback to the listing of Southern Palladium on the Johannesburg Stock Exchange two years ago. Southern Palladium remains committed to advancing Bengwenyama project
Published: 18 Jun 24
The completed prefeasibility study (PFS) drilling campaign for the Bengwenyama platinum group metal (PGM) project, on the eastern limb of South Africa’s distinctively endowed Bushveld Complex, is emphasising the robustness of the upper group two (UG2) reef, project developer Southern Palladium reported on Tuesday. An updated mineral resource estimate (MRE) will now follow in the third quarter of this year to facilitate the commencement of mine planning for the PFS.
Image of Telkom signage on building Telkom achieves stronger 2024 financial results
Published: 18 Jun 24
JSE-listed Telkom on Tuesday posted an improvement in its financial results for the year ended March 31, 2024, supported by its next-generation offerings and cost-optimisation efforts. The group reported a 5.2% increase in normalised earnings before interest, tax, depreciation and amortisation (Ebitda) of R10-billion during the year under review, owing to stronger operational performance and cost-optimisation initiatives.
Botswana may fall short of 4.2% growth target
Published: 18 Jun 24
Botswana's economy may fall short of the government's 4.2% growth target for this year, a senior central bank official said on Tuesday, citing global and domestic constraints. Finance minister Peggy Serame made the projection for a 4.2% increase in GDP in a budget speech in February, saying the government expected growth to accelerate from 2023 due to an improved performance in the diamond sector. Gross domestic product grew 2.7% in 2023.
Diederichs becomes Predictive COO as firm bolsters management to support Guinea project progress
Published: 18 Jun 24
ASX-listed Predictive Discovery has made several key appointments to further strengthen its board and management team, to support progress with the 5.38-million-ounce Bankan gold project in Guinea. Alberto Lavandeira joins as non-executive director, bringing more than 45 years of development and operating experience across gold, copper and industrial minerals in Africa and Europe.
Malaysia is planning to join BRICS, PM says Malaysia is planning to join BRICS, PM says
Published: 18 Jun 24
Malaysian Prime Minister Anwar Ibrahim said that the Southeast Asian nation will join the BRICS economic bloc, becoming the latest country to take part in an expanding group seen challenging the western-led global order. “We have indicated as a policy that we are” joining, Anwar said in an interview with the Chinese news outlet Guancha aired ahead of a scheduled visit by Chinese Premier Li Qiang to Malaysia. “We have made a decision. We are placing the formal procedures soon.”
Galantas’ Omagh trial stoping proves viability of mining method
Published: 18 Jun 24
TSX-V-listed Galantas Gold has completed its trial stoping programme at the Cavanacaw gold mine at the Omagh project in county Tyrone, Northern Ireland. This programme has enhanced the company’s understanding of the mine development process and confirmed the viability of using a longhole mining method with backfill at Cavanacaw. “The trial stoping has provided sufficient information to bring a high level of confidence for a successful stoping programme in the future,” stated CEO Mario Stifano.
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