started · updated
Mining and energy firms report significant resource and profit updates
Several mining and energy companies have reported significant operational developments.
True North Copper has expanded its Mt Oxide discovery in north-west Queensland, extending the mineralised copper trend to 2.3 kilometres. Maiden drilling at the Chidna prospect suggests a potential widening of the mineralised system to approximately 300 metres. Additionally, drilling at the Aquila discovery yielded a 52-metre intercept grading 0.85 per cent copper.
Auric Mining reported a $28 million net profit before tax for the half-year ending in June, a significant turnaround from a previous loss. The results were driven by the Munda gold mine in Western Australia, which produced 6,168 ounces of gold during the period. The company is now looking to refurbish its Burbanks processing plant.
Aurum Resources announced high-grade gold intercepts from its Boundiali Gold Project in Côte d'Ivoire as part of an ongoing 100,000m drilling program. The company holds combined group resources of 4.4Moz gold.
In Mongolia, TMK Energy reported a 4 per cent monthly increase in gas production at its Gurvantes XXXV coal seam gas pilot project, with average daily production reaching 810 cubic metres in August. The company is preparing for a new drilling and well workover program.
Entities
Auric Mining · Aurum Resources · Chariot Resources · Iganna lithium project · Mt Oxide · Munda gold mine · TMK Energy · True North Copper · ZhongNuo Energy
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] ZhongNuo Energy has begun a fully-funded geological mapping program at the Iganna lithium project in Nigeria.
- [● 2 SOURCES] The company generated $44.8 million in total revenue. www.brisbanetimes.com.au · thewest.com.au
- [● 2 SOURCES] The Munda gold mine delivered 6,168 ounces of gold during the half-year. www.brisbanetimes.com.au · thewest.com.au
- [● 2 SOURCES] Auric Mining holds $62 million in total assets, including $38 million in cash and no debt. www.brisbanetimes.com.au · thewest.com.au
- [● 2 SOURCES] The profit represents a turnaround from a $1.35 million loss in the previous corresponding period. www.brisbanetimes.com.au · thewest.com.au
- [● 2 SOURCES] Auric Mining reported a $28 million net profit before tax for the half-year ending in June. www.brisbanetimes.com.au · thewest.com.au
- [● 2 SOURCES] Chariot Resources' share price rose by more than 87 percent following the partnership announcement.
- [● 2 SOURCES] ZhongNuo Energy has committed to funding a minimum 1,500-metre diamond drilling campaign at a selected project.