The crushing circuit at BlueRock Diamonds PLC (LON:BRD) Kareevlei diamond mine is now processing at or above the company’s target level.
The circuit is grinding its way through 80 tonnes or so per hour following the installation of a second cone crusher and the implementation of optimisation initiatives. The fault on the original cone crusher has been rectified and the crusher is operating in tandem with the crusher that was rented to tide the company over while the first crusher was out of action.
The company will now be able to produce stockpiled material to alleviate the production challenges in the rainy period from January to April.
"I am delighted that we have resolved our issues with the crushing circuit and we now look forward to a continuous period of production at or above our target levels,” said Adam Waugh, BlueRock’s chief executive officer.
Thor Mining PLC (LON:THR, ASX:THR)
The latest definitive feasibility study for Thor Mining Molyhill project in Australia projects revenue in excess of A$500mln over seven years.
The DFS points to underlying earnings (EBITDA) of A$239mln over the current seven-year life of mine with a project payback period of fewer than 18 months after payment of royalties and taxation. The first production is targeted for early 2020.
The DFS postulates a net present value (NPV) of A$101mln at a discount rate of 5% with an internal rate of return of 59% after payment of taxes and royalties. The project finance requirement has been put at US$43mln.
The DFS covers only the open pit operation previously outlined in the company’s ore reserve statement and Thor believes the tungsten and molybdenum project offers substantial upside potential from subsequent underground mining at Molyhill and from the nearby Bonya tungsten deposits.
Mick Billing, the executive chairman of Thor Mining, said the DFS demonstrates the substantial value this project holds for the company and its shareholders.
Kodal Minerals PLC (LON:KOD)
Kodal Minerals said high-grade mineralisation has been returned for the Sogola-Baoule prospect in Mali where mineralisation remains open along strike.
All assay results have now been received for the drilling campaign completed at Bougouni in June 2018 and confirmed that mineralisation continues to extend to the north-east and has increased in thickness.
Metal Tiger PLC (LON:MTR)
Kalahari Metals LTD, a company in which Metal Tiger owns a significant stake, has entered into an exclusivity period with Resource Exploration and Development Limited to undertake due diligence with a view to acquiring an additional five exploration licences in Botswana.
The licences include 4,661 square kilometres of recently granted permits in the Kalahari Copper Belt. Kalahari Metals already holds seven exploration licences in Botswana, covering a total of 4,063 square kilometres.
Under the investment agreement announced on 6 June 2018, Metal Tiger has the right to acquire up to 50% of Kalahari Metals. Meanwhile, at two of Kalahari Metals’ copper projects, Okavango and Ngami, magnetic and first phase electromagnetic airborne surveys have been completed.
A total of 16,700 square kilometres of high-resolution magnetic data was collected over priority areas identified at Okavango. Kalahari Metals anticipates final processed survey results by the end of August 2018.
One of the aims is to identify mineralised structures with the potential to host mineralisation in analogous settings to the MOD Resources T3 Deposit, the development of which Metal Tiger has played a significant role in.