Indiana looks at Mali JV with Altus

Junior Indiana Resources has signed a nonbinding term sheet to form a joint venture (JV) with Aim- and TSX-listed Altus Strategies for exploration licences in the Mali gold belt. Under the terms of the agreement, Indiana could earn an 85% interest in the Lakanfla and Tabakarole gold projects, in western and southern Mali respectively, by reaching a number of earn-in milestones.

Arafura releases Nolans DFS; targets construction next year

A definitive feasibility study (DFS) into the Nolans neodymium-praseodymium (NdPr) project, in the Northern Territory, has confirmed the project’s economics, with ASX-listed Arafura Resources planning to start project commissioning by mid-2022. At a capital cost of just over A$1-billion, the Nolans project is expected to deliver 293 000 t/y of concentrate, containing 4 357 t/y NdPr oxide, 135 808 t/y of phosphoric acid and 13 343 t/y total rare-earth oxide equivalent, over a mine-life of 23 years.

Altura raises cash for WA lithium ramp-up

Lithium producer Altura Mining is hoping to raise A$28-million through a share placement and share purchase plan (SPP) to underpin the production ramp-up at its Altura lithium project, in Western Australia. Some 184-million shares will be placed to institutional and sophisticated investors, priced at 13c each, to raise an initial A$23-million. The placement price represents a 18.8% discount to the 30-day volume-weighted average price of Altura shares.

Intermin gains back Menzies and Goongarrie

ASX-listed Intermin Resources has struck a settlement agreement with the administrators of Eastern Goldfields over the Menzies and Goongarrie farm-in joint venture projects in Western Australia. The settlement would see both the Menzies and Goongarrie projects return to the full ownership of Intermin, with the company saying on Thursday that all relevant mining and geological information would be returned to the company.

Miners rally to support flood victims

Diversified miners Glencore and South32 have both pledged A$1-million each for flood relief in Queensland. Several parts of Queensland have been declared disaster zones, with thousands evacuated on the back of a 1-in-100-year flood, with Townsville at the center of the catastrophe.

Bluebird eyes start to South Korean mines

LSE-listed Bluebird Merchant Ventures was still targeting its first gold pour in South Korea before the end of 2019, joint venture (JV) partner Southern Gold reported. The JV is hoping to bring the Gubong and Kochang mines back to operation, with Bluebird expecting cash flow from the operations by 2020.

Ramelius to start compulsory acquisition of Explaurum

Gold miner Ramelius Resources has gained a 90% foothold in takeover target Explaurum, with the offer to close on February 22. Ramelius in December increased its offer for Explaurum by 2c a share in cash, and was offering Explaurum shareholders one of its own shares for every four Explaurum shares held, as well as 2c a share in cash for every Explaurum share held.