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Silver Lake, Red 5 share strong results

Apr 22, 2024

Majors Silver Lake Resources and Red 5 have shared their March quarter results, recording strong output across operations.


Silver Lake

Silver Lake recorded strong sales for the quarter, including 64,463 ounces (oz) of gold and 338 tonnes (t) of copper.


Both the Mount Monger and Deflector operations in Western Australia performed strongly for the company, both well positioned to meet the top end of their respective guidance ranges.


Silver Lake ended the quarter with cash and bullion of $342 million with no debt, and listed investments of $166 million.


“Pleasingly, the YTD (year to date) performance has Silver Lake well positioned to build on its nine consecutive years of meeting sales guidance,” Silver Lake said.


Red 5

The King of the Hills (KOTH) gold project in Western Australia was the winner for Red 5 in the March quarter, achieving production of 50,132oz.


The amount marked the fourth consecutive quarter of production exceeding 50,000oz.


While production was impacted by the combination of a planned SAG mill reline in March and unplanned downtime in February relating to a SAG mill lube system fault, reducing overall mill utilisation, all mines continued to perform well for the quarter.



Red 5 is forecasting higher production in the June quarter, with no further major shutdowns planned for the rest of the financial year.




Source: https://www.australianmining.com.au/silver-lake-red-5-share-strong-results/

09 May, 2024
Revolver Resources has continued to make strong progress at its Dianne copper mine with ongoing support from the Queensland Government. Revolver is currently progressing detailed mine planning and scheduling activities, helped along by a maiden $1.3 million grant from the Queensland Critical Minerals and Battery Technology Fund. The mine is on track for targeted first copper cathode production during the second half of 2025. “Revolver is fortunate to be in a very unique position with a high-grade copper ore body at-surface at the Dianne mine,” Revolver managing director Pat Williams said . “We have no existing debt and we have a truly incredible pathway to generating production revenues, to fund the company’s growth and accelerate the scale of our exploration activities across our highly prospective tenure at the broader Dianne and Osprey projects.” Revolver is now undertaking Traditional Owner engagement and broader workforce participation planning, with project debt and equity funding solutions well advanced. “Our Dianne copper mine project, the site of one of the world’s historically high-grade copper mines, is now in the advanced stages of planning for operational recommencement,” Williams said. “While advancing the project towards targeted final investment decision later in 2024 and first production in 2025, we absolutely plan to continue focused copper (and gold) exploration activities in parallel.  “This includes targeted further drilling in the Larramore volcanics belt at Dianne and project Osprey during the remainder of 2024.” Source: https://www.australianmining.com.au/queensland-backs-dianne-copper/
29 Apr, 2024
Gold Road Resources has ended discussions with Orion Resource Partners, a global alternative investment firm, to acquire its 40 per cent stake in the Greenstone Gold Mines. The announcement comes a week after Gold Road responded to media speculation that it would acquire a substantial interest in the operation. Located in Ontario, Canada, the Greenstone Gold Mines are currently held in a joint partnership between Canadian-based Equinox Gold, who owns 60 per cent, and Orion Resource Partners, who holds the balance and is looking to divest its stake. “As previously stated, Gold Road continues to evaluate strategic opportunities as part of a considered and diligent growth strategy,” Gold Road said in an ASX statement on Tuesday. “The company will only pursue these opportunities on terms and at values which it believes are in the best interests of its shareholders.” Orion Resource Partners is reportedly seeking a valuation of more than $1 billion for its Greenstone stake. The Greenstone project has an expected mine life of 15 years, over which it has been tipped to produce over 400,000 ounces of gold per year. Production is anticipated to begin this year.  Despite ending its talks with Orion Resource Partners, Gold Road confirmed earlier this week that mining and processing operations at the Gruyere joint venture it shares with Gold Fields have resumed after a period of heavy rainfall. Source: https://www.australianmining.com.au/gold-road-exits-greenstone-talks/
29 Apr, 2024
Martin Engineering, a world leader in bulk handling solutions, is marking the 50th anniversary of its invention of the world’s first low-pressure air cannon. Air cannons have transformed material flows in bulk processing systems, eliminating problematic internal buildups and blockages. After five decades of continuous innovation, Martin Engineering remains at the forefront of air cannon advancements, enabling industrial plants to run more profitably, efficiently and safely than ever. The company launched the world’s first low-pressure pneumatic air cannon – its legendary Big Blaster – in 1974. It was devised and developed by Carl Matson, a member of Martin’s senior team and cousin of the firm’s founder Edwin F. Peterson. The patented technology was designed to dislodge stubborn material stuck to the inside walls of hoppers and silos by firing precisely timed bursts of compressed air to keep bulk material flowing and preventing the growth of serious build-ups and blockages. The air cannon was originally aimed at the same quarrying applications as the legendary Vibrolator, the Martin-patented industrial ball vibrator on which the company’s success had been built since its inception in 1944. By the 1980s, as Martin Engineering expanded its global presence, the Big Blaster was already being reimagined for use in high-temperature industrial applications to maintain the flow of sticky materials through the process and minimise unscheduled downtime. Martin air cannons soon proved to be a game-changer for sectors such as cement, for the first time signalling an end to workers having to access the interior of preheater vessels to manually break off hefty material build-ups using a high pressure water jet – one of the most unpleasant and hazardous jobs on a cement plant. By the 1990s, Martin Engineering had developed an extreme heat and velocity version of the Big Blaster, called the XHV, with an all-metal construction capable of withstanding the harshest of conditions. During the 2000s, Martin became the first to introduce a safer positive-pressure firing valve with its Tornado air cannon – technology that prevents unintentional firing if there’s a drop in system pressure, and also allows solenoid valves to be positioned up to 60m from the air cannon for easier access and maintenance. Designed with safety in mind, the positive firing valve also delivers a more powerful blast. Soon after that came the introduction of the Hurricane valve, located in the rear of the air cannon tank rather than at the tank and nozzle junction, greatly improving safety and ease of maintenance. The exterior-facing design eliminates the need for removal of the tank so maintenance is a simple one-worker operation requiring only minutes for replacement. In 2008, Martin Engineering opened its industry-leading Center for Innovation , which accelerated the company’s air cannon technology advancements including: SMART Series Nozzles with multiple nozzle tips, one of which features a retractable design that extends the 360° nozzle head into the material stream only when firing, protecting it from repeated abrasions and extreme temperatures. Its clever Y-shaped assembly means the nozzle can be installed, accessed and serviced without removing the air cannon or further disruption to the vessel structure and refractory. The Martin Thermo Safety Shield , which acts as a safety barrier to allow timely and safe maintenance of air cannon systems. It protects workers from exposure to severe temperatures so that maintenance can take place safely and production stays on schedule. Martin Engineering’s current ground-breaking air cannon designs are the result of research and development in the Center for Innovation, located at the company’s headquarters in Neponset, Illinois. The centre will open its doors to visitors in the Summer of 2024 as part of the 50th anniversary celebrations. “From the very beginning, our air cannons were specifically designed to produce a quiet but powerful, high-velocity discharge of plant-compressed air to dislodge buildups and enhance material flow,” Martin Engineering global air cannon product manager Brad Pronschinske said. “They were developed to be capable of handling the high temperatures, harsh gases and abrasive, corrosive materials associated with heavy industries, and yet have low maintenance requirements and low costs. Since the launch of the Big Blaster 50 years ago, we have continued to innovate, introducing smarter and ever more powerful air cannon systems that improve efficiency, productivity and safety. “We’re especially proud that Martin air cannons have become so important in reducing the health and safety risks associated with clearing blockages manually – such as working in confined spaces, working at height, falling materials, and working in hot and dusty environments. “Our team is always working on new developments and we’re looking forward to bringing the next generation of air cannon technologies to our customers all over the world.”  Source: https://www.australianmining.com.au/martin-engineering-celebrates-50-years-of-air-cannon-technology/
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