IAMGOLD Corporation’s Post

⛏ Kula Gold to acquire the historic Mt Palmer Gold Mine, last commercially mined in 1944 down to only the 6th Level (~160m) at 15.9 grams/tonne. 🗣 Kula’s Managing Director Ric Dawson comments: “This acquisition is in alignment with the Company’s strategy to add assets near to existing operations to fast track any discovery to monetary success. This historical rich ‘half ounce’ gold mine has huge potential of high-grade gold and is a priority drilling target for Kula.” This is a significant opportunity to discover additional high-grade #Gold mineralisation and is just 15km from the Marvel Loch gold processing plant and infrastructure. The mine produced over 150,000 ounces of Gold at 15.9 grams/tonne in the period 1934 to 1944 and is north of the Nevoria Gold Mine (+600,000 ounces of gold), east of the circa 2.4million ounce Marvel Loch Gold Mine. The mine closed in part due to the continuation of World War 2 severely restricting access to labour and materials and subsequently the mine flooded and never reopened. For more details, view the release below. #mining #exploration #goldexploration #westernaustralian

New buyers offer N$5bn for Osino Resources, surpassing Dundee's N$4bn offer Osino Resources Corp. Resources Corp (Osino) says it has received a compelling proposal from an unnamed foreign mining company, surpassing Dundee Precious Metals' offer by over N$1 billion. Under the new proposal, Osino shareholders would receive C$1.90 for each common share, valuing the company at approximately N$5 billion (C$368 million). The development comes in the wake of Dundee Precious Metals Inc. (DPM)'s December definitive agreement to acquire Osino Resources for N$4 billion. DPM had offered C$0.775 in cash per Osino share along with 0.0801 of a DPM common share, implying a value of C$1.55 per Osino share and a total equity value of N$4 billion (C$287 million). Meanwhile, the premium offered by the new proposal, approximately 32% higher than the implied value of the consideration in the DPM Arrangement Agreement, underscores the enhanced value proposition presented by the foreign-based mining company. "Based on the closing price of the DPM common shares on the Toronto Stock Exchange as of February 16, 2024, the superior proposal represents a premium of approximately 32% to the implied value of the consideration offered pursuant to the DPM Arrangement Agreement and approximately 68% premium to the unaffected share price one trading day prior to the announcement of the DPM Arrangement Agreement," said Osino's President and CEO Heye Daun. https://lnkd.in/dh3TtTqq #namibia #goldmine #gold #mine #acqusition #investment Chamber of Mines Namibia Namibia Investment Promotion and Development Board (NIPDB) Tom Alweendo

Here's a quick snapshot of the powerhouses and rising stars in the gold mining sector: 📈 Newmont Corporation (TSE: NGT): The top gold producer with 5.5 million oz., strengthened by its acquisition of Newcrest Mining. 📈 Barrick Gold Corporation (TSE: ABX): Produced 4.05 million oz. in 2023, focusing on organic growth with key operations in the Dominican Republic and Nevada. 📈 Agnico Eagle Mines Limited (TSE: AEM): Grew its production by nearly 10% thanks to strategic acquisitions, including the Canadian Malartic mine. 📈 Navoi Mining and Metallurgical Company (NMMC): Uzbekistan’s largest industrial enterprise with a 2023 production of 2.9 million oz. 📈 POLYUS (PLZL): Increased production by 14%, overcoming the impact of Western sanctions. 📈 AngloGold Ashanti (NYSE: AU): Despite a slight decline in production, it remains a key player with operations in Africa and Australia. 📈 GOLD FIELDS (JSE: GFI): Produced 2.3 million oz., investing in new projects like the Salares Norte mine in Chile. 📈 Zijin Mining Group (SHA: 601899): China’s top listed gold miner, with a 20% increase in production and active expansion efforts. 📈 Kinross Gold Corporation (TSE: K): Produced 2.15 million oz., adding new ventures like the Manh Choh project in Alaska. 📈 Freeport-McMoRan (NYSE: FCX): Known for its copper production, it also saw a 10% increase in gold production from the Grasberg mine in Indonesia. 📈 Solidcore Resources plc (formerly Polymetal International plc): Maintained steady production despite sanctions, focusing on new markets and investments in Kazakhstan. 📈 Great Pacific Gold Corp (TSXV: GPAC): A rising junior miner with promising gold and copper projects in Papua New Guinea and Australia. These companies are leading the charge in the gold mining industry, driving innovation and growth. #Gold #Mining #Investing #JuniorMining #GPAC #Newmont #BarrickGold #AgnicoEagle #Navoi #Polyus #AngloGoldAshanti #GoldFields #ZijinMining #KinrossGold #FreeportMcMoran #Solidcore https://lnkd.in/grBaY2UW

Element79 Gold Corp. Signs Letter of Intent for Ore Sales with Compañía de Minas Buenaventura We are excited to announce the signing of a letter of intent with Compañía de Minas Buenaventura (“BVN”), a leading Peruvian gold mining company, for Ore Sales beginning in 2024. With the potential of this strategic regional partnership gathering steam, Element79 is taking a major step towards transforming from an exploration company to a producer. The Lucero property, once a significant producer of gold and silver, holds immense promise for commercial production. Through this potential partnership with BVN, we stand to share operational expertise, infrastructure, and market reach, which stands to be instrumental in realizing the full value of this asset. The work programs underway, and the ensuing pilot bulk sampling program scheduled to commence later this year will play a crucial role in validating the resource and assessing the economic viability of the Lucero property. Through collaboration, we can hope to optimize the processing of the ore and ensure that it meets industry standards. To Element79, this LOI represents a significant vote of confidence in the viability of restarting production at Lucero as well as our team's ability to execute on our plans. We are committed to working closely with BVN as well as with the Chachas community to bring this project to fruition, which will not only create value for our shareholders but also contribute to the economic development of the region.  Why is this Important for Element79's Growth?  The signing of this letter of intent with Compañía de Minas Buenaventura marks a turning point for Element79 Gold Corp. Here's why: 👉 A Transformative Step: This partnership paves the way for Element79 to transition from an exploration company to a producer, a significant milestone in any mining company's journey. 👉Shared Expertise and Infrastructure: BVN's expertise in gold mining and its extensive infrastructure, historical data on this project, and including the Orcopampa mill, will be invaluable in developing the Lucero property. 👉Enhanced Financial Prospects: The potential for commercial production at the Lucero property has the potential to significantly increase Element79's revenue and cash flow.   How Does This Add Value to Shareholders?   This potential partnership delivers tangible benefits to Element79 shareholders: 👉Increased Value: The potential for commercial production has the potential to significantly increase the value of Element79's shares. 👉Reduced Risk: Shared expertise and resources can help to bring higher probability of success from drilling and ore extraction, in addition to possibly mitigate some of the costs and risks associated with restarting a mine such as Lucero. 👉Enhanced Long-Term Prospects: This partnership positions Element79 for long-term growth and success. #miningindustry #juniormining #miningnews #mininginvestment #miningexploration https://lnkd.in/ehxM_-jT

Tennant Minerals Achieves Excellent Copper and Gold Recoveries at Bluebird (ASX: TMS) CEO Vincent Algar commented: “Building on our significant initial copper flotation test-work results, the latest more detailed cleaner-flotation tests, conducted over a wider range of material types, demonstrates the Bluebird copper and gold mineralisation can consistently deliver high-grade and potentially commercial copper concentrates of 24%-29% copper with gold content of up to 4 g/t. High copper recoveries which are consistently over 90%, and up to 98%, also underline the potential for positive outcomes from future economic studies into mining and extraction to produce a saleable copper and gold concentrate. “Furthermore, comparisons with reported copper-with-gold traded concentrates , and from other successful mines in the Tennant Creek area , support the view that Bluebird concentrates have the potential to be highly valuable at current copper and gold prices – which are continuing to rise. “These excellent results give us further encouragement as we prepare for our next drilling phase at Bluebird to continue expanding this exciting high-grade copper-gold discovery. Our overall goal is to establish a substantial resource base within our 100%-owned Barkly Project, which will support a stand-alone mining and processing operation at a time of increasing global demand for both copper and gold.” Read our article below: https://lnkd.in/g-dfT3mU #copper #gold #mining #exploration #asx

Emerald Resources is pleased to announce the results of another impressive Quarter of production with a further 28,245 ounces of gold produced at the Company’s 100% owned Okvau Gold Mine in Cambodia, and a record full-year production of 114,076 ounces of gold which is at the upper end of production guidance. Reflecting the Company's contained costs and consistent production an AISC of US$818/oz was achieved. Other highlights include: Gold sales for the June 2024 Quarter of 28.6koz at an average gold price of US$2,345/oz; Pre-tax operating cash flow from the Okvau Gold Mine for the Quarter of A$64.6m (US$42.3m), A$218.4m (US$146.4m) for the 12 months to June 2024;  The tenth tonne of gold poured at the Okvau Gold Mine immediately following the Quarter's end. Emerald had cash and bullion on hand at 30 June 2024 of A$162.3m (US$107.5m) and the takeover of Bullseye Mining Limited (renamed Emerald Resources (WA) Pty Ltd) was completed with Emerald now holding a 100% interest. The Company is committed to have safe work place across all operations and there were no reportable injuries for the Quarter, with a TRIFR 12 month moving average of 0.55 as at June 2024; Feasibility and development work continued at the Memot Gold Project in Cambodia with the Stage 2 resource extensional and infill drill program producing the highest results to date. An updated interim Resource estimation is on track for delivery in the second half of 2024. The Dingo Range Gold Project in Western Australia Boundary and Neptune Prospects' resource definition program continues to deliver significant gold mineralisation, and a new discovery was made at the Northern Range Prospect.

⛏️Advancing Innovation and Community at Element79 Gold’s Lucero Property We're excited to update you on the progress at our Lucero Property in Peru, known historically for its high-grade gold and silver yields. At Element79 Gold, we prioritize sustainable and community-focused mining practices. 👉Community Collaboration Our partnership with local miners and the town of Chachas is central to our strategy, ensuring that our operations benefit the entire community while respecting local traditions and contributions. 👉Strategic Exploration and Growth With the latest exploration efforts, we are set to expand Lucero's potential significantly. Our upcoming drilling program will leverage modern techniques to update our resource estimates and optimize production. 👉Investing in Our Future The impending sale of our Maverick Springs Project is poised to clean up the balance sheet and finance our ambitious goals for Lucero, highlighting our proactive approach to resource management and corporate development. Stay tuned as we continue to develop and implement corporate and mining practices that lead to growth and opportunity. https://lnkd.in/dCM6AjjC #miningindustry #juniormining #miningnews #miningsector #mininginvestment

New Post: Asante Gold: First Tranche Closing of $100M Offering Delayed Due to Foreign Exchange Conversion Challenges - https://lnkd.in/eZxqCFwZ Gold: First Tranche Closing of $100M Offering Delayed Due to Foreign Exchange Conversion Challengeshttps://lnkd.in/ekNZPjgY, British Columbia//-Asante Gold Corporation, a leading gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana today, says that the first tranche closing of $100M offering has been delayed due to foreign exchange conversion challenges. Asante Gold logo Vancouver, British Columbia//-Asante Gold Corporation, a leading gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana today, says that the first tranche closing of $100M offering has been delayed due to foreign exchange conversion challenges.   Asante, which is currently operating the Bibiani and Chirano Gold Mines both in Ghana and continues with detailed technical studies at its Kubi Gold Project, explained that further to its press release of September 24, 2024, that announced a $100 million non-brokered private placement (the Offering) with the first tranche of $25 million scheduled to close on October 15, 2024. The mining company confirmed that $14 million of the first tranche of the Offering has been received and that the balance of subscription funds to effect the closing of the first tranche of the Offering is expected to occur on or about October 31, 2024. “This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of U.S”, it said. The press release added that persons, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. According to the company, all its mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts in Ghana, emphasising it has an experienced and skilled team of mine finders, builders, and operators with extensive experience in Ghana. Instructively, the company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. African Eye Report    MASAHUDU AN

Taseko Mines with 100% shares in the Gibraltar Mine Taseko Mines Limited in a press release has informed that it acquired the remaining 12.5% shares in the Gibraltar Mine from Dowa Metals & Mining America Inc and Furukawa Co. Ltd.  The acquisition price is a minimum of CAD 117 million which will be payable over ten years and potential contingent payments depending on copper prices and Gibraltar’s cashflow. The initial payment of a total of CAD 5 million will be paid to Dowa and Furukawa (each company will have an equal share) shortly following closing. The remaining amount will be settled with annual payments commencing in March 2026. Stuart McDonald after the agreement has stated: “We are happy to once again own 100% of the Gibraltar mine, our foundational asset, which will continue to generate strong returns for the Company for many years to come. This acquisition provides 14% growth in our attributable copper production, and is immediately cashflow accretive as we advance construction at our Florence Copper Project.” He has also highlighted the good relationship between Taseko, Dowa Metals, and Furukawa: “We have established a positive relationship with Dowa and Furukawa over the last 14 years. Given that both groups are reducing their copper smelting businesses and are exiting their copper mining investments, we’ve been able to structure this exit from our long-term partnership in a mutually beneficial manner." In 2023, the mine produced a total of 122.6 million pounds of copper. It has a processing capacity of 85,000 tons per day and life of mine average annual copper production of 130 million pounds. The company will support copper and molybdenum production until at least 2044. #mining, #miningindustry, #copper

Canadian dealmaker Bryan Slusarchuk, renowned for his previous success in investing in Papua New Guinea (PNG) gold, has once again captured attention with today's news about the acquisition of PNG-focused Tinga Valley Copper & Gold Corp. This acquisition has the potential to elevate Make Great Pacific Gold as a prominent global player for those interested in copper-gold porphyry opportunities. Through Make Great Pacific Gold, a publicly traded North American company, Slusarchuk and his team have successfully acquired Tinga, which holds a substantial 347 sq km exploration license in a country that is emerging as a key jurisdiction for mineral exploration worldwide. The Tinga property, spanning 347 sq km, has undergone significant historic surface exploration, revealing promising copper and gold grades across a 2km mineralized zone, including grades such as 1.97% copper and 12.7 g/t gold. Notably, elevated copper and gold-silver grades have been identified, with several large high-priority drill targets already outlined across a 2.5km x 1.5km area. With his extensive experience in PNG's mining sector as a co-founder and former President and Director of K92 Mining Inc., now a part of the S&P/TSX Composite Index, Slusarchuk acknowledges PNG's reputation as the "Land of Giants" in the mining sector due to its multiple world-class deposits in terms of size and grade. He expresses admiration for PNG's geological richness and emphasizes the exceptional asset represented by its people. “PNG is known as the Land of Giants in the mining sector for good reason, as the country hosts multiple world-class deposits in terms of both size and grade. "I have a special place in my heart for PNG, and while the geology is amazing, the most exceptional asset of the country, in my view, is the people. "I’ve been blessed with some success in PNG, but I also believe the best days are ahead, and I can’t wait to embark on the task of working hard at Tinga to unlock serious value for all stakeholders" he says.