Company
ASX:EVN
Evolution Mining (ASX:EVN) formerly Catalpa Resources has two gold assets, a 100% interest in the 100,000 ounce per annum Edna May Gold Operations in Western Australia and a 30% interest in the 100,000 ounce per annum Cracow Gold Operations in Queensland (70% Newcrest Mining).
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Argent Minerals has raised A$771,921 in an oversubscribed share purchase plan shortfall ahead of deep diamond drilling at the company’s Kempfield lead-zinc project in New South Wales this week.
The Australian All Ordinaries seemed to be at a loss for strong leads today, with trading on the index trailing off in the morning to a static range that led to a 0.8% weaker close at 5,267 points.
The recent high resolution aeromagnetic survey highlighted a number of new, subtle anomalies corresponding to major structures and in some cases, historical mines. Follow-up drill testing will commence later this month.
The combined magnetic and IP feature, together with the presence of high copper values in nearby drill results, is considered to be prospective for porphyry/epithermal style copper gold mineralisation. Similarities include Evolution Mining&
Emmerson Resources is set for near-term cash flow from a royalty agreement on gold production from its Tennant Creek project in the Northern Territory of Australia. Rob Bills, managing director of Emmerson Resources, speaks exclusively with
Evolution Mining’s competing offer is at a premium to Zijin Mining Group’s offer; Phoenix Gold has advised shareholders to take no action until it has considered the offer.
Evolution Mining’s off-market offer of 0.06 EVN shares at A$0.06 cash for each Phoenix Gold share represents a 20% premium to Zijin Mining Group’s $0.10 cash per share offer. Shares in PXG are currently trading at $0.105.
Striking copper intersections of 7 metres at 5.98% copper could allow the company to forge an extension to the existing Goanna-Gecko Inferred Resource. Further assays are pending from new, deeper zones of mineralisation.
The royalty agreement enables Emmerson to generate ongoing income from mining of a non-core asset in its Tennant Creek portfolio. Narrow vein mining specialists Edna Beryl Mining Company have extensive experience in the Tennant Creek Minera
Zijin Mining Group has made an off-market takeover offer of $0.10 cash per share, valuing Phoenix Gold at about $47 million. Shares in PXG are currently trading at $0.105. The company has advised shareholders to take no action.
Phoenix Gold has received a takeover offer from Zijin Mining Group Co., Ltd after close of business on Friday. The offer values Phoenix at around $47 million.
