It was a busy week in the mining world as a number of companies gave news on their production expectations.
Kicking off with Medusa Mining (ASX:MML) which upped production guidance for the year to end-June 2016 at its flagship Co-O gold mine in the Philippines.
The company said it expects production will fall somewhere between 120,000 and 130,000 ounces of gold in fiscal 2015/16, while production for fiscal 2016/17 is expected to rise to 135,000 – 145,000 ounces.
Meanwhile, Orosur Mining (LON:OMI) said it expects to maintain current levels of production from its San Gregorio mine in Uruguay in the year ahead.
Orosur expects to produce between 50,000 – 55,000 ounces (oz) in a cost range of US$850 – US$950/oz in the twelve months to May 2016.
Speaking of being on target, Caledonia Mining (LON:CMCL) is on track with its upgrade programme at the Blanket mine in Zimbabwe.
The new Tramming Loop has been completed, something that is expected to boost production towards the end of this year.
Beating expectations this week was Xtract Resources (LON:XTR) after it announced its Chepica mine returned to profitability in May, at least three months ahead of schedule.
The gold and copper miner reckoned earlier this month that the Chepica mine in Chile was three months away from profitability.
From South American to North America and fluorspar explorer Tertiary Minerals (LON:TYM) has upgraded the resource at its MB project in Nevada, USA, by more than double.
The new resource is 86.4mln tonnes, a 126% increase on the previous estimate, with 6.1mln tonnes in the indicated category and 80.3mln inferred.
In other news, technical studies at Hummingbird Resources' (LON:HUM) Yanfolila gold project in Mali have shown the economics of the open pit operation can be further improved, the firm said, as it unveiled a £3.5mln fundraising.
Work since an optimisation study in March means the miner is now focusing on an initial two pit mine plan at Komana East and West to simplify the process in early years of debt repayment with a further three pits to be brought online later.
Elsewhere in Africa, StratMin Global Resources (LON:STGR) boss Brett Boynton said the company can build a “sustainable and scalable, low cost, business” after unveiling the results of a preliminary study of the area next to its Loharano graphite operation in Madagascar.
It confirmed the Mahefadok deposit is a large mineralised body 1.5km long and 150 metres wide that is similar to the existing mine.
Meanwhile, Obtala Resources (LON:OBT) outlined plans to increase its timber land holdings by 13% in Mozambique through buying two new licences and revealed it plans to divest its forestry division there.
The two 50 year leases, subject to government approval, total 35,000 hectares and will bring the group's total area in the country to 314,965 hectares.
In gold mining news, Mariana Resources’ (LON:MARL) partner has developed a 3D model of the Hot Maden project in Turkey that indicates the high-grade copper-gold mineralisation remains open up and down dip.
The animation incorporates all the data gleaned thus far from the 10,000 metre drill programme being carried out by local partner Lidya – including results from holes 12 to 14, which are yet to be released to the market.
Sticking with the metal, gold explorer Conroy Gold and Natural Resources (LON:CGNR) has discovered a new target in Ireland.
Near Rockcorry, the 700m by 300m gold-in-soil anomaly lies 14km from Clontibret, where the company hopes to develop its first gold mine in the area.
In other precious metal news, Sphinx Resources (CVE:SFX) has intersected a stratabound platinum metal reef on its Green Palladium project in Quebec.
Grades were 3.44 grams per tonne (g/t) palladium platinum and gold over 0.4m from a nine hole drill programme, totalling 962m.
Finally, W Resources (LON:WRES) can earn 70% on its investment from a two stage development of the La Parrilla tungsten mine in Spain, a new study has estimated.
The development plan incorporates 150% higher production than original forecast when running at full pelt.