CRATER Gold Mining expected to be operating at full mining capacity at its High Grade Zone (HGZ) project by the end of 2015 following completion of a mining plant upgrade. At full capacity the company anticipates producing 10,000 ounces of gold in the first full year of production at an all-in cash cost of less than $400 per ounce over the mining lease term.

SIGNIFICANT channel sample results have been received from ongoing exploration at WCB Resources’ Umuna Gold Project on Misima Island. The sampling recently identified a major fault splay east of the main Umuna zone with positive initial results.

Nautilus Minerals has signed agreements with United Engineering Services LLC (UES) to provide support services for wet testing of the Seafloor Production Equipment to be used in seafloor mining at the Solwara 1 project in Papua New Guinea.

Marengo Mining has entered into an agreement with its major shareholder Sentient Executive GP IV, Limited, in connection with the proposed issuance of US$14 million of convertible unsecured debentures.

K92 International Holdings has informed investor company Otterburn Resources Corp that the applications for renewal of three exploration licences (ELs) covering a total of almost 439sqkm at the Kainantu Gold Project have been approved by the Mineral Regulatory Authority (MRA) of Papua New Guinea.

AN independent environmental and social benchmarking analysis, based on natural capital accounting, concludes that Nautilus Minerals’ Solwara 1 project has the potential to significantly reduce social and environmental impacts commonly associated with large surface copper mines. Solwara 1 is expected to be the world’s first commercial high-grade seafloor copper-gold mine project.

CRATER Gold Mining has made its first sale of gold produced from the High Grade Zone (HGZ) mine at the Crater Mountain project. In early May the company sold 17.4 ounces from the processing of ore through the bulk sampling gravity separation plant during the implementation stage of mining.

A contract for the detailed design of the dewatering plant to be used on Nautilus Minerals’ Production Support Vessel for the Solwara 1 project on the seafloor off Papua New Guinea has been awarded to the Brisbane office of the DRA Group.

Otterburn Resources Corp has raised almost Can$1.349 million of interim financing which will be advanced to K92 Holdings International Ltd as loans for financing of operations in Papua New Guinea.

Nautilus Minerals has agreed to extend by six months the exercise date of the options granted to its joint venture partner in the Solwara 1 project. The partner is the nominee of the Independent State of Papua New Guinea, Eda Kopa (Solwara) Ltd, a wholly-owned subsidiary of Petromin PNG Holdings Limited.

Nautilus Minerals’ seafloor Solwara 1 project has the potential to significantly reduce social and environmental impacts commonly associated with large surface terrestrial copper mines, according to an independent environmental and social benchmarking analysis. The report, based on natural capital accounting, was released by Earth Economics on May 31.

The Yandera Copper-Molybdenum Project has all the hallmarks of an excellent copper project, supported by a pro-mining government and community, according to Marengo Mining. The company is confident that the project is stronger than ever and is progressing towards feasibility.

Barrick Gold, the world’s leading gold producer, has formed a strategic partnership with major Chinese mining company Zijin Mining Group Co Ltd. As a first step, Zijin will acquire 50% of Barrick (Niugini) Limited (BNL), the company which owns 95% and manages the Porgera Joint Venture Gold Project.

Otterburn Resources Corp and K92 Holdings International Ltd have appointed a syndicate of agents to sell, by way of a private placement, approximately $15 million of special warrants of Otterburn. The net proceeds of the offering are intended to be used to conduct work at K92’s Kainantu property.

Crater Gold Mining has made the first sale of gold produced from the new High Grade Zone (HGZ) mine at the Crater Mountain Gold Project. The company has sold 17.4 ounces from the processing of ore during the implementation stage of mining.

WCB Resources announces an updated NI 43-101 compliant mineral resource for the Umuna Zone and Ewatinona prospects of its Misima Island Gold-Silver Project. For the first time the estimate includes a resource from Ewatinona.

Marengo Mining announces an updated NI 43-101 and JORC 2012 compliant resource estimate for its Yandera Copper Project in Madang Province. It is the first measured and indicated resource estimate that incorporates the contributing value of the molybdenum and gold that would be produced with the copper.

The order for the supply of the entire electrical installation for the production support vessel (PSV) for Nautilus Minerals’ Solwara 1 seafloor project has been awarded to Siemens International Trading (Shanghai) Ltd, a wholly-owned subsidiary of Siemens AG.

PNG GOLD is awaiting the results of a warden’s hearing and renewal applications for exploration licences of its Sehulea and Normanby prospects on Normanby Island. The two-year term of the Sehulea licence expired on January 5, 2014, and the two-year term of Normanby licence expired on April 24, 2014.

CONSTRUCTION of specialized equipment needed for Nautilus Minerals to carry out seafloor mining at the Solwara 1 project is continuing at a steady pace. In recent months Nautilus has received a constant flow of information regarding progress.