Mahalo petroleum leases awarded – Comet Ridge

The Queensland government has granted ASX-listed Comet Ridge two petroleum leases at its Mahalo gas project. Comet Ridge on Tuesday said that the petroleum lease awards were the final regulatory approval required for the project to move towards production, following the Commonwealth Environment Protection and Biodiversity Conservation Act approval, which was granted in May and approval by the Queensland Department of Environment and Science, in June.

HGM shifts focus to CSG

ASX-listed gold and cobalt explorer High Grade Metals (HGM) has announced a move into the coal seam gas (CSG) sector. HGM on Tuesday announced that it had inked a binding agreement to acquire unlisted Jade Gas, which holds a 60% interest in a joint venture (JV) vehicle with Mongolian state-owned enterprise Erdenes Methane, which in turn holds a production sharing agreement with the Mineral Resources and Petroleum Authority Mongolia, to explore and exploit CSG over the Tavan Tolgoi coal field.

Tomingley meets targets

The Tomingley gold project, in New South Wales, has met its production guidance for 2020, with owner Alkane Resources on Tuesday reporting that the project had produced 33 507 oz of gold during the full year ended June. This was in line with the target of between 30 000 oz and 35 000 oz.

Ora Banda completes bookbuild for Davyhurst restart

ASX-listed Ora Banda Mining has completed the bookbuild for its share placement and institutional entitlement offer, to raise A$51.7-million, with a fully underwritten retail entitlement offer set to raise a further A$3.3-million, and to open on July 10. The company has received firm commitments for around A$40-million of its placement to institutional investors, and approximately A$11.7-million for the institutional component of its one-for-nine accelerated non-renounceable pro-rata entitlement offer.

Sal de Vida still set for 2022 start

Lithium miner Galaxy Resources on Tuesday said that it was still on target for Stage 1 ore production at the Sal de Vida project, in Argentina, in 2022, despite the Covid-19 pandemic impacting the development schedule of the project. Galaxy in April this year suspended operations at Sal de Vida after the Argentina government issued a nation-wide lockdown to contain the spread of the virus.

Image sells 100 000 t of HMC

Junior Image Resources has inked an offtake agreement for 100 000 t of heavy mineral concentrate from its current inventory at the Boonanarring mineral sands project, in Western Australia. The ASX-listed company told shareholders that the agreement with offtake partner Shantou Natford Zirconium and Titanium Co and Guandong Orient Zirconic would span across three to five months, starting in July this year.

Zenith sets sights on A$5m raise

ASX-listed Zenith Minerals will raise A$5-million in an oversubscribed share placement to institutional and sophisticated investors, to accelerate exploration at its core gold projects. The junior company on Tuesday noted that 51-million new shares would be issued at a price of 10c each, representing a 13% discount to Zenith’s last trading price on the ASX.

Maiden indicated resource declared at Bellevue

Junior Bellevue Gold has reported a maiden indicated resource of 860 000 oz, at 11.6 g/t gold at its namesake project in Western Australia. The indicated resource forms part of the global 2.3-million ounce resource, at 10 g/t gold, at the Bellevue project, of which some 1.4-million ounces was classified as inferred.

Commercial production declared at Century zinc mine

Zinc miner New Century Resources has declared commercial production at its Century zinc mine, in Queensland. “Despite the Covid-19 pandemic, operations at Century continue to ramp up and have again delivered record production in the June quarter. Century has now achieved seven consecutive quarters of increasing production and lowering costs, and the company remains focused on continuing this trend,” said MD Patrick Walta on Monday.

WA amends mining regulations to ease Covid constraints

The Western Australian state government has amended the state’s mining regulations to assist tenement holders to apply for expenditure exemption amid the Covid-19 pandemic. Under the revised regulations, tenement holders could now apply for expenditure exemptions if they are able to demonstrate that the pandemic had affected their ability to meet their expenditure conditions.