The latest drilling result at Merton’s Reward confirms the target’s ore shoot extends further east than previously modelled.
Category: Bullion Street
West African Resources raises $2.1 mn to accelerate drilling at Tanlouka
WAF would shortly step-up the current drilling program using Ausdrill rigs designed to rapidly bring the M1 and M3 prospects to resource status, with the aim of significantly improving the existing 440 000 oz gold heap leachable probable reserve.
Petra’s Diamond tender earns average $142 per carat
The recent sale included the 23.16 carat pink stone from its Williamson mine in Tanzania, which sold for $10.05 million.
Dominion Diamond’s sales, profit plunge in Q3 2016
Profit before income taxes for Q3 FY 2016 was $4.1 million compared to $59.1 million in Q3 of the previous fiscal. The Company reported a “Consolidated net profit attributable to shareholders of $4.1 million or $0.05 per share for the quarter”.
Perseus Mining keeps output guidance, despite lower grade ore
Unit costs for the half-year ending June have been reduced to reflect the higher gold production, which resulted in the unit cost guidance for the full-year declining from between $1100/oz and $1200/oz, to between $1050/oz and $1150/oz.
South Africa’s mining output declines 4.6% Y Y in Oct
Platinum group metals gained 26.5% and was a significant producer towards staving off even worse figures, although this is off a low base.
Indian industry group plans to launch first physical Gold exchange
The Mumbai-based India Bullion and Jewellers Association (IBJA), a group consisting of gold dealers, traders and jewellers, is talking with industry officials about launching the exchange next year.
US polished Diamond imports fall 3.7% to $2.16 bn in October
Rough diamond imports slumped 58% in October to $16.51 million, while rough exports fell 38% to $24 million, leaving net rough imports at negative $7 million compared with positive $1 million a year earlier.
South Africa’s net Gold, forex reserves fall to $40.471 bn in Nov
Gross reserves also dipped to $45.14 billion from $46.051 billion previously. The forward position, which represents the central bank’s unsettled or swap transactions, was at $2.106 billion in November versus $2.228 billion.
China raises Gold reserves by around 21 tons in Nov
The value of China’s gold reserves stood at $59.52 billion at the end of November, compared with $63.26 billion at the end of October, the People’s Bank of China (PBOC) said on its website.