Goldplat (LON:GDP) has made significant progress reducing its backlog of stocks and easing its problems with third party refiner Rand, it reported today.
The company, which recovers gold from waste from mining operations, said a new electric boiler had boosted the performance at its existing facilities to five tonnes of loaded carbon per day.
This higher throughput is expected to have a significant impact on the backlog of material waiting to be treated. A new washing plant, meanwhile, has boosted the gold recovered from woodchip supplies by 2Kg per month.
StratMin Global Resources (LON:STGR) rose after it has agreed to sell a 25% stake in its Madagascar mine to specialist graphite investor, ASX-listed Bass Metals. The £2mln sale values the Loharano operation at £8mln – well in excess of the StratMin’s current market capitalisation of £5.4mln.
Bass, which has investments in graphite companies with a combined market capitalisation of £460mln (A$1bn), has the option to take the stake to 35%. The investment will fund further optimisation work at its Loharano facility and a detailed feasibility study for the expansion of the Mahefadok project via a new mine and 12,000 ton per annum plant.
Amur Minerals (LON:AMC) said first results from this year’s drill programme at Flangovy at Kun-Manie in Far East Russia had confirmed the deposit is larger than previously reported.
Rambler Metals and Mining (LON:RMM, CVE:RAB) has agreed to merge with Thundermin Resources (TSXV:THR), a move that will give it full control of the Little Deer and Whalesback copper assets in Canada.
Lydian International (TSX:LYD) is to re-design the crushing process to slash production costs at its Amulsar Gold project in Armenia. The miner plans to scale back some of its equipment while adding more efficient crushers to increase the nominal crush size from 12.5mm to 19mm.
Ariana Resources (LON:AAU) has started construction of its new gold mine at the Kiziltepe in western Turkey. Final discussions are also underway with component suppliers while a mining contractor is expected to start commence site works in October.
Metminco (LON:MNC) has spelt out its plans for Los Calatos while its waits for its appeal over access to its Mollacas deposit in Chile. Contingent on funding, Metminco wants to carry out an infill drilling programme at the copper prospect in Peru to convert the first ten years of mineral resources into the Measured and Indicated categories.