Goldminex continues to advance its promising Kiki prospect within the flagship Liamu Project area, 120km east of Port Moresby in the Owen Stanley region.
A diamond drilling program was undertaken at the Kiki prospect to test geophysical chargeability and aeromagnetic targets.
Morumbi Resources has reported positive developments on Bougainville with respect to the formation of mining policy. A mining policy on the island is a condition precedent under the 2004 Bougainville Constitution in order to demonstrate administrative capacity for the drawdown of full powers over mining to the Autonomous Bougainville Government (ABG) from Papua New Guinea.
Regency Mines has revealed that Direct Nickel Limited (DNi), in which it has a 7.5% stake, is making headway with testing of the nickel laterite treatment process at its Perth test plant.
With international commodity prices and exchange rates remaining volatile, St Barbara has sold forward 240,000 ounces of gold at Aus$1390 per ounce in a bid to specifically manage financial risk and assure overall cash margins during a period of additional and production ramp-up in its Pacific Operations.