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Proactive headlines, including Klondex Mines Ltd, Tango Mining Ltd and more

Last updated: 18:58 19 Apr 2017 BST, First published: 19:58 19 Apr 2017 BST

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There was plenty of mining news on the day.

Klondex Mines Ltd (NYSE:KLDX, TSE:KDX) has repeated its production guidance for 2017 of between 210,000 to 225,000 gold equivalent ounces, as it posted what it called 'solid' first quarter operating results.

The firm said output will be more heavily weighted in the second half as the True North mine in Manitoba, Canada and Hollister in Nevada, USA, continue to ramp up towards full output.

In the three months to end March, the group mined 57,633 gold equivalent ounces, which was in line with its expectations, it revealed.

It sold 33,737 gold equivalent ounces in the period, 29,559 ounces of which were gold.

Elsewhere, metals explorer Gold Resource Corporation (NYSE:GORO) has told investors that gold production increased in the first quarter of the year.

Preliminary first quarter production at the firm’s Oaxaca mining unit in Mexico totalled approximately 6,746 ounces (oz) of gold, compared to 6,463oz for the same period in 2016.

US oil titan ConocoPhillips (NYSE:COP) reported on Wednesday a potential expansion to its Darwin liquefied natural gas (LNG) plant in Australia.

The energy group has launched a study to assess the merits of a multibillion-dollar expansion to the operation in Australia’s Northern Territory.

It comes amid a reported rise in domestic gas prices in eastern Australia and fears of a supply shortage but is a shift away from the firm's previous thinking about the area.

It has previously said the focus was on developing new resources to maintain output at its existing line when gas from the Bayu-Undan field in the Timor Sea west of Australia runs out in 2022.

Tango Mining Ltd (CVE:TGV) revealed it had closed its agreement with Georges Zard, owner of conglomerate the GZA Group, over his purchase of a stake in the Oena alluvial diamond mine in South Africa.

Zard acquired from Tango an 8% interest in African Star Minerals, which owns 100% of the Oena diamond mine.

The mine consists of an 8,800-hectare converted mining right (CMR) on the lower Orange River, Northern Cape province, South Africa.

An application for a nine year renewal of the CMR is pending. The transfer of the 8% interest to  Zard is subject to South African regulatory consents and approvals required to implement the transaction.

Tango received from Zard US$35,000 for the 8% stake in ASM.

Tango has placed in escrow around 3.245mln shares as security for Zard's interest in ASM to be held while the CMR is being renewed, which will be cancelled and returned to treasury upon renewal.

If it is not renewed, the escrowed shares will be released to Zard and he will transfer back to Tango a 31% interest in ASM, being the 8 per cent acquired from Tango and the 23-per-cent interest acquired privately from Kevin Gallagher

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