• PAPUA NEW GUINEA - Engines for Nautilus ordered

    The order for the engines and thruster packages for Nautilus Minerals’ production support vessel has been awarded to Rolls Royce Marine of Norway. The order secures the main engines, azimuth and tunnel thrusters and is the first major package to be awarded by the shipyard, Fujian Mawei Shipbuilding Ltd.

  • Morumbi application rejected

    Morumbi Resources has had its renewal application for an exploration licence in the Popondetta area of the Owen Stanley Ranges in eastern PNG rejected. With the company not renewing its other exploration licence in this area, Morumbi’s interest in the country is now restricted to prospects on Bougainville island where there is a moratorium covering exploration.

  • Pacific Niugini in acquisition talks

    Pacific Niugini is in preliminary discussions regarding the potential acquisition of an exploration tenement. The company has signed a confidentiality agreement in regards to the arrangement.

  • WCB encouraged by Misima drilling

    WCB Resources is encouraged by recent diamond drilling at the Misima Porphyry Copper Prospect on Misima Island, where it is testing a potential tier-1 copper-gold porphyry target. WCB says one hole has encountered a major structural zone with alteration, veining and mineralization consistent with the upper levels of the porphyry system.

  • Nautilus in vessel agreement

    Examining a rock sample from the seafloor at Nautilus Minerals’ Solwara 1 projectNAUTILUS Minerals has entered into an agreement for the charter of a vessel to be deployed at the Solwara 1 seafloor project. Marine Assets Corporation (MAC), a marine solutions company based in Dubai which specialises in delivery of new build support vessels for the offshore industry, will own the vessel and provide the marine management.

  • Goldminex to acquire Enzumo Group

    Goldminex Resources has underpinned its change of strategic direction with its intention to acquire a technology business - the Enzumo Group of Companies. Enzumo configures third party software systems, and develops, sells, implements and maintains proprietary commercial software tools for the financial planning and advisory industry.

  • Amazon Bay licence renewed

    Foyson Resources has been advised by the PNG Mineral Resources Authority that an exploration licence has been renewed over the company’s Amazon Bay Iron Sands Project. The licence is for the key tenement covering Foyson’s iron sands resource on the southeast coast of PNG and together with the other approved Amazon Bay tenements, Foyson now has a land holding of 1627sqkm.

  • PAPUA NEW GUINEA - Tripela drilling extended

    Due to continuing positive results Papua Mining has extended the drilling program at Tripela prospect. The planned 4000 metre program was extended with 4600 metres completed in the second half of 2014.
    The UK company says the drilling is progressing with the most recent four deep drill holes all intersecting inner-propylitic alteration. Since the commencement of drilling at Tripela, Papua Mining has completed approximately 6800 metres of drilling.

  • PAPUA NEW GUINEA - Fourth hole under way at Misima

    WCB Resources has started drilling a fourth diamond drill hole as part of a scout drilling program at the Misima Porphyry Copper Prospect on Misima Island. The company is testing a potential tier-1 copper-gold porphyry target.

  • Coppermoly reacquisition agreement revised

    Coppermoly’s exploration tenements on the island of New Britain.COPPERMOLY has reached agreement with Barrick (PNG Exploration) Limited to amend the most recent deed of variation to the reacquisition agreement regarding the West New Britain project. The company has also reached agreement with its largest shareholder Jelsh Holdings to extend the term of a bridging loan.

  • PNG Gold awaits hearing results

    PNG GOLD is awaiting the results of a warden’s hearing and renewal applications for the exploration licences of its Sehulea and Normanby prospects on Normanby Island in Milne Bay Province. A hearing was held by the Mineral Resource Authority for both licences on June 25.

  • Kula raises funds for Woodlark Island

    KULA Gold has raised Aus$6.4 million in two equity fundraisings which will enable the company to add value to the Woodlark Island Gold Project. The funds mean that the company is now debt free.

  • Adviser to assist Indochine Mining

    An aerial view of Indochine Mining’s Mt Kare Gold-Silver Project.INDOCHINE Mining has appointed Sir Sam Jonah as an adviser to the company to assist with the upcoming fund raising and continuing development of the Mt Kare Gold-Silver Project. Following completion of the capital raising, Sir Sam Jonah will be appointed chairman of the Company’s Board of Directors.

  • Improvements boost Simberi production

    IMPROVEMENTS in operational performance at St Barbara Ltd’s Simberi Gold Project resulted in the 5036 ounces of gold produced during September being the highest monthly result since April 2013. This, together with improved mill availability and an increase in ore milled, reflects an engineering and maintenance program being carried out to improve the performance of the processing plant.

  • PAPUA NEW GUINEA – Collecting Machine assembled

    Mechanical and hydraulic assembly of the second of three Seafloor Production Tools (SPTs) for Nautilus Minerals, the Collecting Machine, has been completed at Soil Machine Dynamics’ facility at Newcastle upon Tyne, UK. Commissioning of the Collecting Machine systems has commenced.

  • Ramu ramp up makes good progress

    The Basamuk Bay processing facilities for the Ramu Nickel-Cobalt Project on Papua New Guinea’s north coast.The Kurumbukari mine, the Basamuk treatment plant and the 135km slurry pipeline to the treatment plant, which comprise the Ramu Nickel-Cobalt Project, continues to ramp up to full production. The plant achieved an average of 77% of nameplate capacity in the September quarter against a planned rate of 80% and a continued improvement of the 52% achieved during the March quarter and 66% during the June quarter.

  • PAPUA NEW GUINEA – CGG to undertake surveys

    CGG has been awarded both a land seismic and an airborne gravity survey by InterOil Corporation to assess the hydrocarbon potential of their acreage in PNG.

  • PAPUA NEW GUINEA – Simberi production turnaround

    St Barbara Limited achieved strong production results in the December 2014 quarter, with the highest monthly and quarterly production from the Simberi Gold Project on Simberi Island since the company acquired this operation. There were 6816 ounces produced in December and 17,295 ounces in the quarter.

  • PAPUA NEW GUINEA - Marengo staffing changes

    Marengo Mining has announced further changes to the organization as it continues to advance its Yandera Copper Project. Chief operating officer John Mears is transitioning to a consulting role as he balances availability to Marengo with his other commitments while the Board has appointed Alex Dann as interim corporate secretary.

  • SOLOMON ISLANDS – Axiom secures funding agreement

    Axiom Mining has entered into a strategic partnership with Anitua Limited for the Isabel Nickel Project. Anitua is providing Aus$5 million in loan funding to advance development of the project.

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