Mining Briefs: last week of December

LATE December updates from Panoramic, Black Rock, Nickel Mines, Blackstone, Aston, IGO/Antipa and Enterprise/Evolution.
Mining Briefs: last week of December Mining Briefs: last week of December Mining Briefs: last week of December Mining Briefs: last week of December Mining Briefs: last week of December

Panoramic's first shipment

Staff reporter

Panoramic Resources has celebrated the first shipment of product from its Savannah mine in Western Australia.

More than 10,800t of nickel-copper-cobalt concentrate set sail on Boxing Day.

The company is expecting to receive more than A$20 million in revenue this week.

Graphite developer Black Rock Mining has signed a term sheet with POSCO to support the development of the Mahenge project in Tanzania.

POSCO will make a US$10 million pre-payment, repayable via delivery of product, and will take 100% of planned fines production.

Potential remains for an additional $10 million prepayment from export credit agencies.

Nickel Mines has signed a conditional share purchase agreement to acquire the Tablasufa nickel laterite project in Indonesia from Bolt Metals Corp and PT Best Resources.

Consideration is $8.5 million cash.

The deal is subject to due diligence, extension of the project's production mining permit and Bolt shareholder approval.

Blackstone Minerals has increased the resource for its Ta Khoa nickel project in Vietnam.

Following maiden resources for the Ban Chang, King Snake and Ban Khoa deposits, the project's total combined resource stands at 130 million tonnes at 0.37% nickel for 485,000t of nickel.

In Canada, Aston Minerals announced a "significant" nickel discovery at the Bardwell prospect, part of the Edleston project.

One hole returned 144m at 0.38% nickel and 0.014% cobalt from 84m, including 53.5m at 0.49% nickel and 0.017% cobalt.

Visible nickel sulphide mineralisation was encountered from 228m to the end of hole at 267m, with 40m of assays pending, while another hole hit 164m of nickel sulphides with assays pending.

IGO has elected to proceed to the next stage of a farm-in over Antipa Minerals' Paterson project in Western Australia.

IGO has spent A$4 million and will need to spend a further $26 million in stage two to earn 70%.

Finally, Evolution Mining has elected to withdraw from a farm-in over Enterprise Metals' Murchison project in WA.

The results were not sufficient to warrant further investment by Evolution.