pd256-Dec17-Jan18-web

EUROPE

Irish eyes smile on Walkabout

An opportunity to acquire Lonmin plc’s
Northern Ireland exploration portfolio
was too good for Walkabout Resources

Ltd to pass up.

While development of the Lindi Jumbo

graphite project in Tanzania will remain

the company’s primary focus, Walkabout

is also keen to advance a suite of “ready

to go” tenements prospective for gold,

lithium and base metals.

Walkabout forked out just $US100,000

for the collection of assets which techni-

cal director Andrew Cunningham said

were worth “much more than what we’ve Walkabout has acquired a suite a former Lonmin exploration licences in Northern Ireland

paid for them”.

“It’s an opportunity that we could not

have passed on,” Cunningham told Pay- alt deposit as well as the Cavanacaw Walkabout insists the decision to ac-

dirt. (540,000oz) and Clontibret (600,000oz) quire the Northern Ireland assets was

“We have a look at a lot of projects on deposits held by fellow AIM-listed com- unrelated to the proposed legislative

a weekly basis and this came through panies Galantas Gold Corp and Conroy changes in Tanzania which have cast

as a very good deal for us. Lonmin has Gold and Natural Resources plc. Walka- doubt over the potential future develop-

stopped all exploration worldwide be- bout’s tenements are proximal to each of ment of several resources projects, in-

cause they’re consolidating, so they ap- those deposits. cluding Lindi Jumbo.

proached us and asked if we would be in- Cunningham said very little focused Executive director Allan Mulligan has

terested in their Northern Ireland assets. exploration had ever been undertaken met with various ministries in Tanzania

“This gives us a nice footprint in North- in Northern Ireland despite the extensive to seek clarification on the proposed

ern Ireland and sets us up in country for mapping carried out across the neigh- amendments to the country’s mining

a cost which is worth way more than the bouring United Kingdom. laws, as the company awaits the award

amount of money we’ve paid for it.” “A lot of it is overlain by basalts, but it of a mining licence.

The transaction also includes a 50% is clear from our interpretation and from “Everything is hinging on our mining li-

interest in an active JV with Koza UK Ltd previous work done by various parties cence application being progressed and

on the highly prospective Dalradian gold that the structures which control the min- we’re hoping that will be granted in the

belt, with intercepts of up to 8.05 g/t gold eralisation in the Republic of Ireland and near future,” Cunningham said.

reported from shallow drilling. also in certain parts of Northern Ireland “Things aren’t standing still in Tanza-

Walkabout will also spend a further extend right through the licences that nia. The engineering is progressing very

$500,000 to initially earn 50% of another we’ve picked up,” he said. well and the detailed equipment has

licence held by Koza, with the company “We see huge potential for further dis- been delivered.

able to lift its stake to 75% upon the an- coveries within Northern Ireland along “Our project is still very robust with a

nouncement of a JORC-compliant re- these structures, similar to what has [post-tax] NPV of $US180 million, even

source. been found in base metals and gold in after the changes the Tanzanian Gov-

Independent geologists are currently the Republic of Ireland.” ernment has made.”

reviewing the dataset provided by Lon- Cunningham said the company had According to the revised DFS, Walka-

min, which was previously only interest- also expressed interest in pegging bout can develop a 40,000 tpa operation

ed in the platinum and palladium poten- ground in the Republic of Ireland, but at Lindi Jumbo for $US29.6 million – a

tial of the three licences. would focus on the opportunities award- reduction of $US9.1 million on original

“There are some very good gold and ed in Northern Ireland for the time being. estimates – mostly due to the inclusion of

base metal prospects on these more Chinese-sourced equipment

licences which we think are a lot and installation from the compa-

more interesting than the PGEs,” ny’s EPCM partner Jinpeng Mining

Cunningham said. and Machinery Co Ltd.

“We’ve taken all the data and Meanwhile, Walkabout has ac-

we’ve given it to independent ge- quired a second prospecting li-

ologists to look at and we’re now cence in Namibia as it ramps up

working through those to come up its lithium exploration plans. The

with our own targets. We’re also company now holds 1,500sq km

preparing a couple of other appli- of prospective tenure across the

cations in Northern Ireland which Orange River pegmatite belt in the

will probably go in over the next country’s south.

couple of weeks.” – Michael Washbourne
Northern Ireland is host to Dalra-
dian Gold Ltd’s 4.4 moz Curraghin- Lindi Jumbo in Tanzania remains Walkabout’s primary focus

AUSTRALIA’S PAYDIRT DECEMBER 2017 - JANUARY 2018 PAGE 101

historical core samples as well as Metallica locks down
provide cased drill holes for future bauxite promotor
down-hole surveying.
Metallica Minerals Ltd has contracted
A short drilling campaign is also the services of Hong Kong-based baux-
planned to test the strike extents ite marketing specialists Bigbites Ltd to
of mineralisation at the Balla Balla boost the profile of its Urquhart bauxite
prospect. project in Far North Queensland.

Tando’s geologists have also be- Bigbites, an associate of the CM
gun work to assess the potential for Group, is widely regarded as a leading
conglomerate-hosted gold miner- provider of bauxite market intelligence.
alisation within the company’s Pil-
bara tenure, given its proximity to CM Group has associations with the
recent “nugget patch” discoveries likes of Rio Tinto Alcan, Alumina Ltd, Al-
by others in the region. coa Inc, South32 Ltd, Norsk Hydro and

Thiess continues Vedanta plc.
Bigbites will provide expert advice on

stocking up on coal the bauxite market and will undertake
marketing and sales exclusively for ma-

CIMIC Group’s global mining ser- terial sourced from Cape York.

vices provider Thiess has

secured contracts at BHP

Mitsubishi Alliance’s Caval

Ridge and Peak Downs

coal mines in Queensland’s

Bowen Basin, with expected

combined revenue of $440

million.

Thiess will deliver mining

services for specific com-

ponents of work, including

the services required for the

DDH1 will oversee a number of drilling Caval Ridge Southern Cir-
programmes for Tando Resources in the Pilbara cuit, for the next three years.

Work at Caval Ridge was

DDH1 to drill first holes due to start before the end
of 2017.

for Tando Thiess was also recently award-
ed an additional $300 million con-

DDH1 Drilling Pty Ltd has been con- tract by Kaltim Prima Coal (KPC)

tracted to carry out the maiden drilling to expand operations at the San-

programmes at Tando Resources Ltd’s gatta coal mine in East Kaliman-

suite of projects in Western Australia’s tan, Indonesia.

Pilbara region. It is an extension of the current

A drill rig and other equipment were life-of-mine contract and will see

mobilised to the Quartz Bore prospect coal production at the Melawan pit
in mid-November to begin work following increase by 12mt and overburden Metallica has teamed with marketing specialists
Bigbites to boost the profile of the Urquhart
completion of a heritage survey. reduced by 130 million bcm over

Drilling will look to verify results from the next four years. bauxite project

PAGE 102 DECEMBER 2017 - JANUARY 2018 AUSTRALIA’S PAYDIRT

Decmil adds to Sahara Mining Services is completing a third drilling campaign at Birimian’s
WA iron ore Goulamina lithium project in Mali
portfolio
Equity mobilises for Birimian keeps the faith
Decmil Group Ltd has won a AVZ at Manono with Sahara
$75 million contract to expand
the Mulla Mulla village which Equity Drilling Ltd has been contracted Sahara Mining Services Ltd will un-
supports BHP Ltd’s current Pil- to complete an initial 20,000m at AVZ dertake a third auger drilling programme
bara iron ore operations at Min- Minerals Ltd’s Manono lithium project in for Birimian Ltd at the Goulamina lithium
ing Area C and the future South the DRC. project in southern Mali.
Flank mine.
The contract covers the first 50% of a The objective of the upcoming pro-
The contract is part of a $105 planned 40,000m drilling programme to gramme is to define the Sabali geochem-
million overall upgrade at Mulla test, define and report resources for the ical anomaly.
Mulla and comes after Decmil Kitotolo and Manono deposits within the
successfully delivered contracts project tenements. Sahara will complete about 5,250m of
at other major West Australian exploration drilling to an average depth
iron ore sites in recent times, One multi-purpose and three diamond of 8m. The campaign is expected to run
including a $13 million civil and rigs will be deployed in early December for 6-8 weeks.
initial works contract in August. to complete the programme.
The first two auger drilling programmes
Work on the Mulla Mulla con- AVZ has set an exploration target of at Goulamina were also completed by
tract was due to start at the end 1-1.2bt @ 1.25-1.5% lithium oxide for the
of November. entire Manono project. Sahara.

NRW steps up as
Dalgaranga
contractor

NRW Holdings has been selected as
the preferred mining contractor for Gas-
coyne Resources Ltd’s Dalgaranga gold
project in Western Australia’s Murchison
region.

The $300 million contract, which re-
mains subject to finalisation of terms and
conditions, is for open pit mining and drill
and blast operations over six years.

About 160 personnel will initially be
required on site, rising to 200 at peak
times, with NRW to leverage off existing
plant and equipment.

Meanwhile, NRW subsidiary Action
Drill & Blast Pty Ltd has been awarded
$57 million of contract work across five
Australian coal mines.

The contracts include a mix of new
awards and contract extensions.

AUSTRALIA’S PAYDIRT DECEMBER 2017 - JANUARY 2018 PAGE 103

COMINGS AND GOINGS

Fortescue Metals Group Ltd ing chief financial officer Sta- upcoming drilling and explo- Andy Beckwith and Brett
has elevated Mark Barna- cey Apostolou will continue to ration programmes at the Lambert have joined the
ba to the role of co-deputy share company secretary du- company’s San Santiago and board of De Grey Mining Ltd.
chair alongside Sharon War- ties with Parry. Torrecillas projects in Peru. Beckwith has been appointed
burton. Barnaba joined the technical director and will
company’s board in 2010 Nicholas Longmire has re- Mauro Piccini has been continue as the company’s
and was appointed lead in- placed Beverley Nichols appointed company sec- operations manager. Lambert
dependent director in 2014. as chief financial officer at retary of Pure Minerals Ltd will be a non-executive direc-
One of the founders of Azure Birimian Ltd. and Red Mountain Mining Ltd tor, filling the position on the
Capital, he is a current board following the resignations of board recently vacated by
member of the Reserve Bank Ross Ashton has retired as Justyn Stedwell and Shannon Davide Bosio.
of Australia. chairman of Marindi Met- Coates respectively.
als Ltd, with John Hutton to fill Long-serving Ausdrill Ltd
Chalice Gold Mines Ltd has the role in an interim capac- Veteran resources execu- chairman Terry O’Connor
appointed Alex Dorsch as ity until a permanent replace- tive Peter Wasow has has retired after 24 years in
general manager corporate ment is found. joined Oz Minerals Ltd’s the role. Deputy chairman
development. Dorsch was board of directors. Wasow, Ian Cochrane, who joined the
previously with global man- Classic Minerals Ltd has who previously held senior company in November 2015,
agement consultancy McKin- appointed Dean Goodwin roles at Alumina Ltd, Santos has been anointed as his suc-
sey & Company. as chief executive and John Ltd and BHP Ltd, will replace cessor.
Lester as a non-executive di- Charles Lenegan as chair-
Rimas Kairaitis rector, while founding manag- man of the audit committee at Spectrum Rare Earths Ltd
ing director Justin Doutch has the company’s AGM in April. has appointed Nader El
Rimas Kairaitis and An- stepped down, as the com- Sayed as a non-executive
thony Sgro have been pany transitions from explora- Michael Naylor has director. El Sayed is chief
appointed directors of Colle- tion to development status. stepped down as chief executive of mining and civil
rina Cobalt Ltd. Kairaitis, who financial officer, company services business Multiplant
joins as technical director, Ardea Resources Ltd has secretary and executive di- Holdings Ltd and sits on the
was the founding managing appointed Sarah Mitchell rector of Tawana Resources board of Hammer Metals Ltd.
director of Aurelia Metals Ltd. as general manager, technical NL. Naylor had consulted to
Sgro, who co-founded Kelair services. Mitchell will oversee the company on a part-time Marcelo Bastos
Pumps, will serve as a non- completion of the PFS and basis since January 2014.
executive director. DFS on the company’s KNP Commercial manager Craig Marcelo Bastos has joined
Cobalt Zone project. Hasson has been appointed the board of Aurizon Ltd.
Neometals Ltd has ap- interim chief financial officer Bastos has more than 30
pointed former Iluka Re- Steve Parsons while the company searches years of experience in the
sources Ltd and Talison Lith- for a permanent replacement. mining industry, including al-
ium Pty Ltd executive Paul Steve Parsons has reu- most seven years as MMG
Wallwork to the new role of nited with Gryphon Min- Laneway Resources Ltd Ltd’s chief operating officer
general manager, marketing erals alumni Hamish Halli- has appointed Peter until his retirement earlier in
and product development. day at Blackstone Minerals Wright as a non-executive di- 2017. Prior to that he spent
Wallwork has nearly 30 years Ltd. Parsons has joined the rector. Wright is currently an seven years at BHP Billiton
of experience in the chemi- Halliday-chaired company as executive director of ASX-list- where he served as president
cals and minerals industries, a non-executive director, with ed graphite miner Bass Met- of Nickel Americas, Nickel
primarily in technical sales Michael Naylor also recently als Ltd and Brisbane-based West and the BHP Billiton Mit-
and international marketing. appointed joint company sec- corporate advisory firm Biz- subishi Alliance. Bastos also
retary. zell Capital Partners. spent 19 years with Vale SA
Millennium Minerals Ltd in a range of senior manage-
has appointed Ray Titan Minerals Ltd has ap- Richard Hill has resigned ment and operational roles.
Parry as chief financial of- pointed Owen Miller as as a non-executive direc-
ficer and joint company sec- exploration manager. A ge- tor of Strandline Resources
retary. Parry previously held ologist with more than 30 Ltd. Hill was the company’s
similar roles at Northern Star years of experience across inaugural managing director
Resources Ltd and Hanking multiple continents, Miller has prior to the acquisition of its
Gold Mining Pty Ltd. Outgo- been tasked with overseeing existing mineral sands pro-
jects.

Liontown Resources Ltd
has appointed Jamie Day
as the company’s new ex-
ploration manager. Day was
most recently a senior geolo-
gist for Independence Group
NL and led the teams which
discovered the Rose and C2
nickel sulphide deposits.

PAGE 104 DECEMBER 2017 - JANUARY 2018 AUSTRALIA’S PAYDIRT

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LEFTFIELD

More pink trucks for Roy Hill

Gina Rinehart’s Roy Hill Hold- her wish to work towards a can-
ings Pty Ltd has added an- cer-free world.

other five pink trucks to its min- “We believe that we are the

ing fleet at the company’s iron only mining company in the

ore operations in the Pilbara as world who has a pink truck

part of its ongoing commitment fleet,” she said. “We hope that

to breast cancer research. other members of the mining

Rinehart was on hand last and related industries will emu-

month to personally welcome late our fundraising, where we

the new vehicles – Paspaley, have matched our staff’s contri-

Noela, Joy, Luisa and Imants & butions dollar for dollar.

Andra – to the existing fleet of “It is our hope that through

21 pink trucks. these initiatives, we will be

Each truck is named after joined by others to work towards

people who have a special bond fighting this disease and creat-

with Rinehart and Roy Hill. Gina Rinehart and Roy Hill employees celebrate the arrival of five ing a better world with more un-

One of the pink trucks is new pink trucks to the company’s mining operations in the Pilbara derstanding of, and sympathy
named after Rinehart’s close and support for, cancer patients

friend Noela Shepherd. The pair worked recently won her battle with breast can- and drive towards a more urgent goal to

together to launch Australia’s first breast cer after being diagnosed with the dis- eradicate this terrible disease.”

cancer foundation in the early 1990s. ease when she was aged just 30. Roy Hill is one of the mining industry’s

Another truck was named in honour of Speaking at Roy Hill’s third pink truck largest employers of women.

Roy Hill employee Luisa Condello, who naming ceremony, Rinehart expressed

INDEX

Acacia 4, 9, 28-30, 33 Cobalt27 20 Kibaran 30, 32 Pu Neng 8
Koza 101 Pure 104
African Rainbow 94 Codelco 94, 96

Agrimin 10 Collerina 7, 104

Aguia 20 Conroy 101 Laconia 86 Red Mountain 104
Laneway 104
Alcoa 103 Liontown 104 Regis 100
Lonmin 94, 101
Alphamin 19 Dalradian 101 Lucapa Resource Generation 48
Danakali 48 Lucara 83
Altura 12-15, 16 De Grey 83 Rio Tinto 22, 30, 64, 71, 94, 103
Deep Yellow 25, 104
Alumina 103, 104 DRDGold 48 Roxgold 54-55
62
Amani 48

Anglo American 94 Shanta 9
Sibanye 62
AngloGold 9, 94 Marindi 104 Sinomine 38
SolGold 20-21, 97
Antofagasta 94, 96 Emerald 100 Metallica 102 South32 94, 103
Exxaro 9 Spectrum 104
Ardea 104 Middle Island 52 St Barbara 17, 73
Strandline 30, 32, 64, 104
Areva 52, 94 Millennium 104 Sunstone 97
Syrah 48, 56, 84
Artemis 22, 25 Far 48 Mineral Deposits 54
Fortescue 97, 104
Asian Mineral 78 Freeport Mineral Resources 14
Frontier 94
Atlas Iron 14-15 34, 48 MMG 94, 104

Aurelia 7, 104 Mod 34, 48, 66-67, 86

Australian Vanadium 8 Mount Burgess 88

AVZ 34, 48, 92, 103 Galantas 101 Mustang 84
Gascoyne 103
B2Gold 50, 60 Gem Diamonds Neometals 104 Talison 104
Gemfields 83 Newcrest 21, 94, 97 Tando 102
Bafokeng 9 Glencore 84 Newmont Tanga 31-33
Gold Fields 94 Northern Star 94 Tawana 48, 104
Bannerman 70-71 Goldcorp 62, 94 Northern Minerals 104 Teck
Graphex 94 Novo Titan 94
Barrick 4, 9, 29-30, 33, 94 29, 82 Nzuri 6 Toho 104
22, 24-26
Base 42-44, 64 17
76
Bass 104

Battery Minerals 34, 56

BHP 21, 73, 97, 102, 103, 104 Hammer 104 Universal Coal 48
Hanking 104
Birimian 103, 104 Harmony Okapi 34, 92
Hot Chili 86 Oklo 48, 50
Black Rock 29, 72-73 Hummingbird 98 OreCorp Vale 94, 104
50 Orion 48 Vedanta 104
Blackstone 104 Oz 40 Vimy 70
5, 104 Vital
Boss 70 52-53

Cameco 70 IAMGold 86 Paladin 71, 74 Walkabout 31, 32, 101
Cardinal 20, 34, 48, 50, 53 Iluka 43, 64, 104 Peak 32, 89 West African 20, 34, 48, 50,
Cassini Independence Peel
CBH 5 Ivanhoe 104 Perseus 17 Wolf 53, 58, 60
Celsius 17 76 Petra 60 World Titanium 78-79
Chalice 74 Pilbara 44
Classic 104 Kairos 25 Polyus 9
Clean Teq 104 Kaltim 102 Prospect 14-15, 16 Yunnan 19
Coal of Africa Kasbah 78-79
7 Kefi 94
48 90 38

PAGE 106 DECEMBER 2017 - JANUARY 2018 AUSTRALIA’S PAYDIRT



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Leo Karabelas
[email protected]
VP Corporate Communications
416 543-3120