As previously advised, a sizeable portion of the "Stanley" prospect (in the order of 20 percent) is located within the boundaries of PPL 202. The Stanley-1 well was completed on March 6, 1999. The well encountered a significant gas column, overlying water. The size of this discovery is yet to be assessed.

For complete details of the March Quarterly Report, click here.

HIGHLIGHTS - MARCH QUARTERLY REPORT

OVERVIEW - MARCH QUARTERLY REPORT

PRODUCTION

• March Quarter production - 36,026 ounces. Ore sourced from the Dawns Hope and the Stage 1 Golden Ridge pits. Production was adversely affected by unseasonal weather patterns. Financial year to date figure 107,957 ounces.
  
  
• Cash Costs - $215 per ounce - again at a pleasing level, continuing the low cost trend since June 1998 and the higher grades presently being processed. Year to date cash costs were $222 per ounce.
  
  
• Production during the Quarter saw Project to Date Production exceed the 250,000 ounce milestone.

CORPORATE

• The operating profit before abnormals and tax for the quarter was $6.1m (unaudited).
  
  
• The cash and liquid assets position increased and is now in excess of $14m. In addition, the company holds substantial paid-up investments in Croesus Mining NL and Mineral Deposits Limited.
  
  
• Gold sold during the quarter was into forward sales and at spot for an average delivered price of $469 per ounce, slightly lower than the December quarter.
  
  
• Mineral Deposits Limited (MDL) - a 40% subsidiary reported good production of rutile and zircon from its Hawks Nest operations, plus modest equity raisings to strengthen its working capital.

GOLD EVALUATION AND DEVELOPMENT

• Mining at Stage 1 Golden Ridge was very successful and the Stage 2 pit was commenced during the quarter. Dawns Hope pit was affected by rain but mining will be completed this quarter. Promising underground planning continues for Dawns Hope.
  
  
• The White Hope pit has been opened and trial parcels of ore have been delivered and processed by the Jubilee mill.
  
  
• Evaluation and planning for an underground development at Dawns Hope continues, despite delays caused by cyclone flooding.
  
  
• At Golden Ridge multiple supergene horizons extend approximately 400m northwards from the current Stage 2 pit design. Resource drilling will commence this Quarter.

EXPLORATION

• Drilling of Enigma has returned a number of spectacular gold intercepts from a steeply plunging bedrock lode. This lode varies in true width from approximately 8 to 20m and has a minimum strike length of 85m. It remains open down plunge and along strike to the south.
  
  
• RAB and RC drilling programmes were maintained during the quarter with continuing positive results on a number of properties.

PROJECT ACQUISITION

• The 235,000 ounce Trojan project has been purchased from Titan Resources and mine planning is now being undertaken.

For complete details of the March Quarterly Report, click here.

In its March quarterly report, Normandy wrote off $24.3 million against its acquisition of shares in Australian Resources.

Novus has reported a fall in production and revenue in the March quarter, but the company says the period has been a significant turning point. Novus has emerged with a portfolio of fields which will contribute strongly to the company's growth.

HIGHLIGHTS - MARCH QUARTER:

• With the announcement in April of Phillips Petroleum's purchase of BHP's interest in ZOCA 91-12 in the Timor Sea Zone of Cooperation, an acceleration of the approval process for the Bayu-Undan Liquids Project is now expected, coupled with a focus on the sale of gas to the Northern Territory market and an LNG development.
• Timor Sea oil production from the Elang/Kakatua and Kakatua North Fields is on forecast and making a string contribution to the Company's cash flow.
• Petroz expects that a sales contract for Bentu gas in Indonesia will be finalised this year, leading to the construction of production facilities during 2000.
• Petroz entered into a $45 million debt facility with the Commonwealth Bank of Australia which will provide funding for the initial development of the Bayu-Undan Liquids Project and the Bentu Gas Project.
• Diversificatin of gas supply and distribution in the Bass Strait has resulted in an increase in the value of Petroz' investments in the Kipper and Basker/Manta Fields.

Highlights For The March Quarter : Windimurra Project 31% complete Total committed expenditure to date $70.1m Project construction on schedule and within 1% of budget 100,000 man-hours worked at site without a lost time incident Vanadium price reaches cyclic lows Bridging finance provided by Xstrata (Südelektra) Debt finance not yet completed

Caltex Australia is hoping for a 'modest' improvement in profit this financial year. Caltex reported a net profit of $79.32 million in 1998, significantly above the 'abnormal-savaged' net loss of $152 million in 1997.

Centaur expects its Cawse nickel mine in WA to be cash-positive from June. In the March quarter Cawse produced 423 tonnes of nickel and 60 tonnes of cobalt at cash operating costs of US$1.71/lb. In the March quarter, Centaur reported a net loss of $7.7 million after accounting for interest on US notes, depreciation attributable to Cawse and the write-down of $2.8 million in investments.

ERA has reported a net profit of $800,000 for the March quarter, well down from the $1.7 million in the previous March quarter.

QUARTERLY REPORT TO 31 MARCH 1999

HIGHLIGHTS

• A fully underwritten 1 for 2 rights issue at 2 cents per share raised approximately $500,000.
  
  
• Most Government authorities have given consent to the acquisition by Michelago of the Parkes Gold Mine. RC drilling on the Nibblers Hill and Waterhouse prospects at Parkes is planned for early May.
  
  
• At the Tomingley North prospect within the Peak Hill project two RC percussion drill holes were completed. Hole TO38 returned gold intercepts of 1m @ 4.6g/t, 2m @ 2.1g/t and 1m @ 2.0g/t.
  
  
• On the Wisemans Creek project, Allstate Explorations NL, following extensions to the soil sampling grid on the Gils Zone, completed a programme of 36 RAB holes totalling 1,406m of drilling. Assay results included 2m @ 4.9g/t gold at the Ryan target area.
  
  
• At Mount David, Herald Resources Limited has identified two major mineralised structures as a result of a reassessment of past exploration. Soil sampling on the Dads Millions - Chain of Ponds trend has produced nine gold anomalies. RC drilling is expected in the June quarter together with additional soil sampling.

MIM posted a first-half net loss of $3.1 milion, due mainly to lower commodity prices and a string of planned interruptions. MIM has flagged a break-even operating result for the second half, despite anticipated improvements in productivity and output as major projects come on line. Weak commodity prices continue to dilute the gains.

Resolute has reported attributable gold production in the March quarter of 69,567 ounces (previous March quarter 88,036oz) at cash costs of $366/oz ($206) - due to lower grade ore and rain interruptions at Chalice in WA. Cash costs were expected to fall in the next quarter.
Encouraging exploration results were recorded from deep drilling at Obotan, including 4m @ 10.9 g/t Au and 2m @ 18.6 g/t.

The Directors of Straits Resources Limited (ASX Code: SRL and SRLG) announced today that Lynas Gold NL has withdrawn from the previously announced conditional agreement to purchase the Whim Creek Copper Project from the Company. Lynas cited unfavourable market conditions as reasons for their withdrawal. For additional information, click here.

The receivers are drawing up an Information Memorandum for the sale of Australian Resources' gold and copper assets. For more details on Australian Resources, click here.

Quarterly Report for the Quarter ended 31 March 1999

• Mine waste development a record 1,020 metres with 248 metres advance in the decline.
• First high grade gold central stope, 480C, averaging 28 g/t cut or 35 g/t uncut, significantly better than predicted.
• 480E, 480W, 505C, 505E and 505W stopes to be accessed in the June quarter.
• Construction of the 200,000 tpa ore treatment plant 46% complete. First gold production expected from gravity circuit in June 1999.
• Permanent workforce of 75 set to grow to 124 over the next 2 quarters.
• Total Joint Venture expenditure since 1993 now $71 million.
• Beaconsfield Gold advised that its applications for exploration tenements at Dazzler Range and Beaconsfield have been successful.
• Beaconsfield Gold's forward selling program for first 240,000 ounces of gold production had a net realisable value of A$8.7 million at the end of the quarter.

For complete details of the March Quarterly Report, click here.

BHP remains on track to develop the $1.8 billion high-grade nickel deposit on Gag Island in Irian Jaya. A feasibility study is underway.

Comalco has increased first-quarter bauxite production by 42% following the completion of an upgrade of its Weipa mine in late 1998. Beneficiated bauxite from Weipa increased to 2.93 million tonnes in the March quarter.

HIGHLIGHTS - QUARTERLY REPORT TO 31 MARCH 1999

• Scoping study for a silver heap leach operation at Kempfield produced a positive result. The potential cash flow would help to fund the company's exploration activities. A prefeasibility study is underway, together with a fourth drilling programme to obtain large diameter core, for further metallurgical testing, and infill holes at the McCarron Zone.
• Results from the third drilling programme at Kempfield silver-barite project confirmed grades and tonnage at the BJ Zone and extended the McCarron Zone from 400m in strike length to 800m in strike length.
• At Cargo the fourth hole intersected a high grade vein, assaying 114 g/t gold over 1m from 27m, believed to be an extension of the Dalcoath/Spur gold zone where previous drilling gave an indicated resource of 147,000 oz at 1.24 g/t. Further assays awaited.
• At Narragudgil copper-gold area, West Wyalong, Newcrest reported the discovery of porphyry-style mineralisation at Yiddah North prospect. A 400m follow-up diamond core hole has just been drilled beneath the intersection (assays awaited).
• At Copper Hill copper-gold project Newcrest has just completed a 570m diamond drill hole at Vale Head. The core will be logged and sampled in detail.
• Drilling scheduled on four GCR prospects during the June 1999 Quarter - Kempfield, Narragudgil (West Wyalong), Ken Glasson prospect (West Wyalong) and Copper Hill.
• GCR will send quarterlies by email from June 1999 - please use the form, back page.

Highlights since the 1998 annual general meeting include:

• The Reward production schedule has been revised upwards from 483,000 tonnes @ 10% copper to produce 148,000 tonnes of copper concentrate to 550,000 tonnes @ 9.62% copper to produce 162,000 tonnes of copper concentrate.
• The development of the Highway project commenced in October 1998 and is well under way. $5.5 million of the budgeted capital cost for Highway of $11 million (Grange's share) has been contributed by Grange to the JV to date.
• A placement of 7.6 million shares @ 40 cents/share, raising $2.9 million, has been done and will be used to fund the acquisition of ATS and RTS and for general working capital requirements.
• Grange has cash of $7.1 million after the capital raising. It has debt of $1.3 million, giving a net cash position of $5.8 million.

The Grange share price has risen from 25 cents at the end of March, 1999 to a close yesterday of 93 cents.

Hammersley expects to reach a $100 million cost reduction target 2 years ahead of schedule after establishing a "one-mine" policy using a Japanese-style assembly line approach to working its 5 Pilbara iron ore mines. Hammersley cut $65 million in overheads during the first 2-year phase of the program.

ENIGMA PROJECT

After a short break in the drilling programme to allow completion of a detailed aeromagnetic survey, two diamond rigs have recommenced coring at Enigma on continuous shifts. These rigs are targeting extensions to the bedrock lodes and another rig will commence work later this week to drill out the high grade core of the supergene horizon to reserve status. Planned expenditure at Enigma until the end of June 1999 is in excess of $600,000.

DAWNS HOPE

At the Dawns Hope Mine, a programme of five reverse circulation drill holes was completed in March, 1999. The drilling pattern was designed to test the down plunge extent of the southerly plunging high grade shoot which is targeted for underground mine development later this year. For details, click here.

HIGHLIGHTS - MARCH 1999 QUARTER Western Australia Yilgarn Extension Project Broad zones of bedrock gold mineralisation drill intersected at T26 including 20 metres @ 0.3 g/t with a peak value of 4 metres @ 0.8 g/t, and a further 8 metres @ 0.8 g/t with a peak value of 4 metres @ 1.3 g/t. Gold mineralisation and major zones of gold anomalism drill intersected in bedrock at T25. Steere River Project Additional ground geophysical surveys completed over seven geochemical target zones.

Pasminco has recorded a loss in the March quarter - mainly due to a stronger dollar, continued pressure on sales margins in Asia and interest charges. Total output rose 20% due to the takeover of Savage Resources earlier this year.

Santos has announced a 17% increase in sales volumes (to 11 million barrels of oil equivalent) in the March quarter - with revenue up 13.6% to $181.8 million.

The Directors of Straits Resources Limited (ASX Code: SRL and SRLG) are pleased to announce that the Company has agreed to dispose of its entire interest of 8.64 million shares in Hargraves Resources NL to Durban Roodepoort Deep Limited of South Africa for a total consideration of $3.89 million. For details, click here.

Highlights - March 1999 Quarterly Report

• High-grade veins discovered underground at Ballarat East
• Further exposure of potential open-pit grades and widths at Pearl-Croydon

Exploration activity through the quarter has been particularly focused on the Company's most readily-accessible mineralisation discoveries within the Ballarat and Maryborough Goldfields. At Ballarat, very encouraging grades have been encountered in an exploration drive off the Woolshed Gully decline. At Maryborough, potential open-pit grades have been encountered in trenching at Pearl-Croydon while at Long Gully, further trenching and diamond drilling is helping with development of the structural interpretation necessary for resource estimation. Work has also continued on drill core re-logging and computer modelling of the Ballarat West project and on regulatory reporting on other projects.

For complete details of the March 1999 Quarterly Report, click here.

Highlights of the March Quarter for Equinox include:

ZAMBIA: Zambezi Joint Venture (Equinox - Anglo American):

• Major exploration program commencing in Zambia next Quarter operated by Anglo American.
• Kasanka - Serenje:
  • Akasuba: Follow up aircore drilling intersected wide zones of copper mineralization including 28 m of 1.1% Cu – mineralization open to the east, south and at depth.
  • Regional reconnaissance program: Numerous new targets identified with geochemistry better than that associated with mineralization at Akasuba.
• Lufwanyama / Kabompo: Compilation of data for drill target definition completed.
• Chipata: New tenement covering Cu-Au-Fe occurrences and magnetic anomalies prospective for Iron Oxide Cu-Au mineralization.
• Mwombezhi: New tenement covering the southern portion of the dome hosting the major Lumwana Cu-Co-Au-U resource.

SWEDEN

• 12 tenements are now granted to Equinox, and 6 tenement applications are pending.
• 2 new tenement applications cover prospective magnetic targets and copper prospects.
• The target delineation program has been completed and discussions have commenced with several parties interested in potential joint venture participation.

SOUTH AUSTRALIA - Gawler and Curnamona Cratons

• Gawler Craton: Aboriginal site clearances have been completed and work will commence next Quarter on exploration programs planned by JV partners North and Aurora.
• Curnamona Craton: BHP has commenced a field program with ground geophysics being used for drill target definition.

QUEENSLAND

• Fort Constantine South: A substantial IP geophysical survey to define drill targets is partially completed by Normandy.

WESTERN AUSTRALIA

• Weebacarry: gold mineralization intersected by joint venture operator Homestake at Jungar Bore.

FINANCIAL STATUS
The Company remains in a sound financial position with cash on hand at 31 March, 1999 of $2.9m. The Company’s exploration expenditure for the March Quarter was $0.3m, and expenditure including joint ventures totaled $1.4m.

Britain will support the sale of up to 10 million ounces of IMF gold - up to double the amount previously proposed - to fund debt relief for needy countries.

Ed Eshuys has resigned as exploration director of the Gutnick group of companies.

Kidston has returned to profit in the March quarter - higher production rates and increased revenue are expected after the Eldridge orebody is fully uncovered later this year.

New Hampton Goldfields is pleased to announce the purchase from Titan Resources NL of the Trojan orebody located in the Eastern Goldfields region. Trojan lies 37 kilometres east of our current mine at Golden Ridge and when developed, will use the Golden Ridge haul road to allow processing at the Jubilee treatment plant. For details, click here.

Normandy has announced a $510 million alliance with Canadian group TVX Gold Inc - which has 5 producing gold mines in Canada and Latin America. A new company, TVX Normandy Americas, owned 49.9% by Normandy, will be formed. This will boost Normandy's gold production by 240,000 ounces to 1.8 million attributable ounces.

Pacmin has reported a 6% increase in gold production in the March quarter to a record 49,228 ounces at the Tarmoola gold mine in WA. Cash costs fell $6/ounce to $301/ounce. Pacmin expects to produce at least 180,000 ounces in 1998/99.

There are rumours that a Canadian company, possibly Iam Gold, may make a $1.35/share takeover offer for Resolute.

• Excellent drill results were received from the Crater Mountain Project, Papua New Guinea; 24m at 6.55g/t Au including 2m at 52.6g/t Au and 2m at 19.01g/t Au; 14m at 1.66g/t Au; 8m at 1.5g/t Au including 4m at 2.17g/t Au; 4 m at 4.25g/t Au; 6m at 2.22g/t Au. A previous drill hole had intersected 115m at 1.83g/t Au including 3m at 14.16g/t Au. MACMIN is very encouraged by these results as they appear to indicate that most holes have intersected the envelope or upper parts of a major gold bearing hydrothermal system and the narrow gold zones may indicate "leakage" along structures from a major gold orebody at depth.
  
  Very limited trenching gave results of: 35m at 3.1g/t Au; 15m at 1.45g/t Au and 20m at 1.1g/t Au. Previous surface sampling by an earlier explorer had given 30m at 1.95g/t Au. Most prospective areas have not yet been trenched.
  
  Re-evaluation of previous soil and stream geochemistry has defined three new prospect areas in the general Nevera area at Crater Mountain. The Nevera South Prospect (2 to 3 kms south of Nevera) has visible gold in two pan concentrates samples, which assayed 256g/t Au and 86.3g/t Au. At Nevera Southwest, rock samples contain up to 33% Zn and 453 g/t Ag, and at Nevera West, a 3km long zone west of Nevera, gold in soils of 46g/t Au and 15g/t Au have been recorded in addition to many anomalous arsenic values to 860ppm.
  
  The entire Nevera area is known to cover at least 12 sq kms and is thought to extend even further to the south. The drilling, trenching and geochemical results indicate the hydrothermal system is very large, has widespread gold mineralisation as indicated by soil and drill holes and probably hosts a number of separate or semi-separate gold mineralised bodies which could be of economic grades. A comparison of early stage exploration at Crater Mountain, Porgera and Mt Kare (see Section 2.5 for full comparison) shows similar results for each property. In view of this comparison MACMIN considers exploration progress to date at Crater Mountain is extremely encouraging.
  
  The program has been temporarily suspended to allow a review of all results and to determine how the next phase of exploration should be financed.
  
  
• A wide intercept of encouraging epithermal gold mineralisation has now been confirmed at Kabang Northeast Prospect, Feni Project, Papua New Guinea. MAD hole 1, previously reported to have intersected 52m at 1.65g/t Au in its upper part, was extended to 256.5m and returned approximately 1 g/t Au over the entire extension, including 6m at 4.11 g/t Au and 38m at 1.27g/t Au. The hole terminated in gold mineralisation. It is 300m NE of the last drill hole at Kabang; and this hole, together with geophysical and geochemical evidence suggests the gold system at Kabang/Kabang northeast is a minimum of 600m long by 200/400m wide. It may be much larger and the potential to define an economic gold deposit is excellent. Additional drilling is on hold until J/V partner New Guinea Gold raises additional funding.
  
  
• At Texas Project in southeast Queensland, excellent column leach test results were achieved which suggest in excess of 70% of the silver and 60% of the gold can be recovered by heap leach processing using cyanide alone. Further testing is proceeding to determine optimum crushing size for leach purposes using existing RC drill samples. Diamond core holes to provide additional mineralogical, assay and metallurgical samples will be undertaken in the near future, possibly followed by laboratory or on site bulk testing. Site investigations are underway. A major engineering company is undertaking a scoping study to determine the probable economics of the project and a critical path to development.
  
  
• Cyprus Amax have commenced on site exploration at Mt Nakru Papua New Guinea, using bulldozer trenching, sampling and mapping and will commence on site exploration at Whiteman Range and Simuku in the near future.
  
  
• MACMIN’s strategy at present is as follows:
  • conserve existing funds by limiting work mainly to the Texas development, which has the capacity to yield a significant cash flow to the company within 18 months. The capital cost of a heap leach development would be relatively low and substantially less than a CIP/CIL operation.
  • Seek joint venture partners for most Papua New Guinea projects or some form of strategic alliance with a cashed up company so that MACMIN is not obliged to use its own funds in Papua New Guinea in the near future.
  • Discuss joint venture of Crater Mountain with interested parties but not accept opportunistic offers which do not reflect its value.
  • Sell some assets to raise additional cash (plus $1.0M)
    
    
• Implementation of the above strategy is well underway with significantly reduced company overhead and operating costs; preparation of summary reports on 6 projects to assist in seeking joint venture partners (copies available to shareholders on request); initial metallurgical testing at Texas completed with excellent results; financing/joint venture discussions in progress with several companies; discussions in progress with interested parties re possible sale of MACMIN's 100,000t/annum gold plant; mobile plant equipment in Papua New Guinea; and MACMIN's 1-megawatt power station.

For complete details of the March Quarterly Report, click here.

Repairs to the acid plant at Olympic Dam have been completed over the weekend and the smelter and acid plant
are now back to full production. Cost of the repairs to the blower was approximately $3 million.
Expected 1999 production levels will be maintained.
Concentrates supplies are now at full rates ensuring a full continuity of supplies to the new smelter.

BHP's 80%-owned Arutmin coal mine in Indonesia will form part of the biggest debt-for-equity swaps in Indonesian corporate history when PT Bakrie & Brothers gives its creditors 80% of its holdings in 5 of its biggest companies to repay $1.02 billion in foreign debt. Bakrie owns 20% of Arutmin.

South African gold miner Durban Roodepoort Deep has acquired a 13% stake in Hargraves for $3.89 million. DRD acquired the stake from Straits Resources. DRD has also acquired a 14.9% stake in Diversified Mineral Resources and plans to take up Hargraves' offer of 1 share plus 10 cents for every 4 DMR shares held, thus increasing its stake in Hargraves to 19.9%.

Copper Price (26 April 1999)

Copper rose to a 5-month high of US70.55 c/lb last week as Mexico's Industrias Unidas shut a refinery that accounted for 15% of the country's output.

Henry Walker / Eltin (26 April 1999)

HW has become entitled to 99.3% of Eltin under a scheme of arrag=ngement to merge the companies. The offer closed on Friday and HW intends to move to compulsoru acquisition.

Heritage Gold NZ (26 April 1999)

Heritage Gold has raised $350,000 to buy into the Thackaringa cobalt operation near Broken Hill in NSW. The depressed gold price had forced the company away from its "promising" epithermal gold projects in NZ.

Sons of Gwalia (26 April 1999)

SOG has reported a 13% fall in gold production in the March quarter to 108,431 ounces (from previous corresponding quarter). Cash costs rose to A$379/ounce. Production was adversely affected by heavy rains, and delays associated with decline development at the Sons of Gwalia mine.

Westralian Sands (26 April 1999)

Westralian Sands is seeking to redefine its profile following its merger with RGC last year by changing its name to Iluka Resources.

BHP (24 April 1999)

BHP and Rio Tinto have further cut the workforce at Escondida in an attempt to offset lower ore grades - down from 2.75% Cu 12 months ago to the current 2.12% Cu - which will fall to about 1.84% Cu in the next year.

Goldfields Ltd (24 April 1999)

Chairman Tony Cotton has resigned from the company - and also from subsidiary Goldfields Kalgoorlie.

Herald Resources (24 April 1999)

• SALE OF INTEREST IN INDONESIAN COMPANY
• COMINCO PLACEMENT AND JOINT VENTURE
• SHARE BUY-BACK

Sale of interest in Indonesian company

Herald Resources Ltd (Herald) has reached agreement with its 57% owned subsidiary, Vancouver-listed International Annax Ventures Inc (IAX), whereby it will sell its Indonesian, 100%-owned subsidiary company, PT Herald Mining Services (HMS) to IAX.

HMS' main assets are cooperation and loan agreements with Indonesian company PT Kurniadi Florentia, which has a Kuasa Pertambangan (KP) (mining tenement) surrounding the Sopokomil zinc/ lead discovery owned by IAX in North Sumatra under a 7 ^th Generation Contract of Work (CoW).

The Directors believe the consolidation of the KP and CoW areas within IAX will enhance the development of this project, with Herald's interest in the project being through its 57% (prior to the sale) shareholding in IAX.

The consideration for the sale is 1,200,000 IAX shares. 300,000 shares will be issued on acceptance of the transaction's formal filing under Policy 18 with the Vancouver Stock Exchange, and the remainder in three tranches of 300,000 shares each, the issue of which is conditional upon reaching various successful exploration phases. Usual escrow provisions also apply.

Cominco placement and joint venture

In addition to the above, IAX has today released a press release. It involves Cominco Ltd of Canada subscribing for up to C$1,250,000 of IAX shares at C$1.00 each and the expenditure of up to US$10,000,000 (C$15,000,000) on exploration on the Sumatra CoW and KP areas.

The Directors of Herald and IAX view the developments with Cominco as highly significant and a vindication of their belief in the significance of the Sopokomil discovery .

The placement price of IAX shares to Cominco of C$1.00 is significantly higher than the recent trading in IAX shares prior to the announcement of around C$0.50. Herald presently owns 6,429,124 shares in IAX and 2,750,000 warrants exercisable at C$0.20.

Share buy-back

The Company has announced an on-market buy-back of up to 10% of the shares in the capital of the Company (ie 4,210,678 shares).

For additional information, click here.

Icon Oil (24 April 1999)

Icon Oil NL has signed a Letter of Intent with Bayou Choctaw Inc and Warren Resources Inc from the State of Louisiana to acquire a direct working interest varying from 8.33% to 100% in various properties with an overall average of 42% in Bayou Choctaw area and 10% in the balance. Negotiations are proceeding to settle on an average working interest of about 25% in the combined area.

The working interests comprise leases, options and permits covering an area of 570 square kilometres (141,000 acres) which is equivalent to 28 Gulf of Mexico offshore blocks. Additional lease options are available. The area is covered by new 3-D seismic data acquired at a cost of $A 54,000,000 during the past four years. The processing and interpretation of this 3-D seismic data is still proceeding but early processing results indicate that a substantial proven petroleum resource remains undeveloped and possible reserves subject to exploration drilling are significant. For details, click here.

Merritt Mining (24 April 1999)

Merritt Mining NL (in transition to Impress Technologies Limited) intends to issue a total of 7,000,000 options to its Directors.The options will be exercisable at 25 cents each on or before 30 June 2000 and will not be quoted on ASX. . Upon exercise, application will be made to ASX for quotation of the shares. For additional information, click here.

Minotaur Gold (24 April 1999)

Report For The Quarter Ending 31 March 1999

Newcrest Mining (24 April 1999)

OVERVIEW - MARCH QUARTERLY REPORT

Financial:

• The unaudited net profit after tax for the 3 months was $8.4 million ($7.9 million in previous quarter)
• Unaudited profit for the year to date is $12.6 million
• Gold price achieved was A$633/ounce (A$634/ounce last quarter)
• Planned mill shutdowns will affect earnings in the 4th quarter.

Production:

• Gold production was 177,583 oz (202,317 oz last quarter) at a total cash cost of A$332/oz (A$324/oz last quarter)
• Cadia produced 73,852 oz (67,103 oz) at a total cash cost of A$258/oz (A$231/oz)

Development:

• Government approval for the trial mining of Ridgeway has been granted
• Construction at Gosowong is 68% complete. production is anticipated from Q1 FY 99/00

Exploration:

• Ghost Crab and Cracow drilling continue to encourage
• Ridgeway mineralisation is extended at depth

Hedging:

• At 31 March the hedge book comprised 6.9 million ounces
• At 31 March the net mark to market value of the hedge book was $381.5 million.

Acacia Resources (23 April 1999)

Highlights from Acacia’s Annual General Meeting and March 1999 Quarterly Report.

1999 Outlook

At Acacia’s AGM today the Chairman, Mr Peter Wade, said, "Based on current operations and other
exploration and development opportunities Acacia is strongly positioned to move into the next
phase of growth. Healthy forward selling premiums coupled with low cash costs from our
established mines will secure a continuing strong cash flow from operations in coming years,
despite the difficulties and uncertainties that are an inherent feature of our industry environment.

Consolidation of the 500,000 ounce plus production base that we have built up over the last four
years will be achieved by maintaining strong exploration programs on leases within trucking
distance of existing operations. At the same time a phased upgrading and expansion of the
Sunrise Dam plant is underway and we are continuing to work to secure the long term future of
Boddington by future development of the massive Wandoo resource. Wandoo is the largest
undeveloped resource in Australia.

Strong exploration programs will be maintained in 1999 with a continuing focus on identifying
advanced stage exploration opportunities both within Australia and overseas."


March 1999 Quarter

Production and costs were adversely affected by another near-record wet season in the Pine
Creek area and heavy rain associated with cyclones Elaine and Vance at Sunrise Dam. Acacia’s
production for the first quarter of 1999 was 117,273 ounces at a cash cost of $322 an ounce.
Although production was down on that of last quarter (128,099 ounces at $289 an ounce) Acacia
is confident of meeting its 1999 target of over 500,000 ounces of gold at a cost of less than $300
an ounce.

At Sunrise Dam the resource at Cleo has been increased by a further 8% to over 3.5 million
ounces following the 14% increase in December 1998. Additional gold zones have been identified
by drilling that are not included in the new resource estimate. Mineralisation has been extended
300 metres northeast and drilling at depth has continued to intersect steeply dipping zones. New
intersections include 10 metres at 33 g/t and 14 metres at 85 g/t.

At Boddington the Wandoo South resource has been increased by 32% to 11.74 million ounces
with a grade 17% higher than the previous estimate. Drilling at Wandoo North continues to
encounter broad areas of gold mineralisation similar to Wandoo South with some narrow high
grade zones. Intersections include 210 metres 1.05 g/t gold, 0.19% copper; 155 metres 1.06 g/t
gold, 0.13% copper;130 metres 2.1 g/t gold 0.21% copper and 85 metres at 12.4 g/t gold 1.14%
copper.

Feasibility studies on Wandoo (Boddington) and the Zapopan underground deposit (Pine Creek)
are progressing well, and at Sunrise Dam work to increase processing capacity for blended oxide
and fresh ore to 2 million tonnes per year is on schedule to meet the mid-year commissioning
target.

Macmin (23 April 1999)

A wide intercept of highly encouraging epithermal gold mineralisation has been returned over the entire diamond core extension to the first drill hole at the Kabang Northeast Prospect in PNG. Feni Project is a joint venture between MACMIN and Vancouver listed New Guinea Gold Corporation. For complete details, click here.

Minasco Australia / Dominion Mining (23 April 1999)

Under instructions from Dominion Mining Limited, Minasco is offering For URGENT Sale a 3,500 TPA Copper SX-EW Plant. An opportunity for considerable savings on replacement value ($6 Million) and fastrack development of oxide copper deposits. For details, click here.

Normandy Mining (23 April 1999)

Normandy has recorded a 47% fall in net profit in the March quarter to $13.1 million, mainly due to a blowout in cash costs (from $304/ounce to $343/ounce), a write-down on the value of 1 of its mines and a fall in gold production.

Normandy chief executive Robert Champion de Crespigny also said the gold lobby has effectively lost the battle to stop the IMF from selling part of its gold reserves - which could put further pressure on several mining communities and companies.

Oil Search / Woodside (23 April 1999)

Oil Search has reached agreement with Woodside for a $118.4 million share placement - a 12% stake @ $2.10/share, a 17 cent premium on yesterday's closing price..

BHP (22 April 1999)

BHP plans to close its representative office in Vietnam on 31 May.

Dominion Mining / Resolute (22 April 1999)

Dominion has taken a major step toward the development of its Challenger gold project in the Gawler Craton in SA with plans to begin a feasibility study. $4 million will be spent on underground development work as a prelude to a full mining operation. The study is expected to be completed by June 2000.
Shareholders also voted in favour of a proposal to buy back North's 16.1% stake in Dominion.

New Guinea Gold / Macmin (22 April 1999)

A wide intercept of highly encouraging epithermal gold mineralisation has been returned over the entire diamond core extension to NGG's first drill hole at the Kabang Northeast Prospect in PNG.

• The 97.5m extension was drilled from 159.0 to 256.5m downhole and it returned 1.0 g/t Au over it's entire length (including 38.0m of 1.27 g/t Au).
• The entire bedrock intersection in the hole (+extension) is gold mineralised and the 188.5m intercept (68.0 to 256.5m) also averages 1.00 g/t Au .
• The hole was still in gold mineralisation when it was terminated, due to drill related depth limitations, at 256.5m downhole.
• Gold intercepts from hole 1, such as 6m of 4.11 g/t, show that the potential to locate higher gold grades within this very large system is good and possibly this hole intersected the edge of such a zone.
• The drill hole was designed to test across the strike of a combined mercury /arsenic geochemical anomaly and induced polarisation/ geophysical anomaly, which are co-incident with the Kabang Structural Zone (KSZ). However, 65% of the width of the KSZ and the anomaly, at this location, remains to be drill tested.
• Hole 1 is located approximately 300 metres to the northeast of the gold mineralisation in the previous closest core hole at the Kabang Prospect, showing there is probable strike continuity with that zone and the potential for a large resource (see previous results and discussion in preceding news releases).
  
• The Kabang gold system is now confirmed to be more than 600m long based on limited drilling (still open ended in both NE and SW directions), between 200 and 400 metres in width and thus could be very large. The gold mineralisation potential is excellent.

It is important to note that NGG's hole 1, is located approximately 100m to the NE of the "I.P. Core" to the Kabang system and is drilling away from it's projected northern boundary. Significantly, this means that there is excellent potential for gold mineralisation anywhere within the very large alteration zone and as noted by the consultant geophysicist "apart from surface geochemical sampling, this alteration zone remains virtually untested".

Joint venture partner MACMIN N.L. has proposed rationalisation of ownership of the J/V, whereby New Guinea Gold (NGG) can acquire an immediate 70% interest in both Feni and Tabar Projects. Ongoing funding of these projects would then be 70% NGG and 30% MACMIN, with NGG as Operator. A majority equity in both these projects would assist NGG in raising further funds to capitalise on the exciting drill results noted above. Discussions are ongoing between the partners and further details will be released in due course.

Precious Metals Australia (22 April 1999)

Asian Ferro-Alloys '99 Conference

For complete details of the paper presented by Executive Chairman, Roderick Smith, click here.

QCL (22 April 1999)

QCL has posted an after-tax operating profit of $21 million for the year to 31 December, down from $27.2 million previously and due mainly to delays in commissioning the new $200 million plant in Gladstone.

Santos (22 April 1999)

Santos will probably commit to an agreement 'fairly soon' re supplying gas from its share of the Hides field to the proposed $5.5 billion PNG to QLD pipeline project.

Southern Pacific Petroleum / Central Pacific Minerals (22 April 1999)

The Stuart Oil Shale Project's $250 million Stage 1 demonstration plant (4500 barrels/day) is on track to achieve reliable production in late 1999.

Yandal Gold / Great Central Mines (22 April 1999)

Yandal (49.9% Normandy and 50.1% Edensor Nominees) has received more than 90% acceptance of its bid for GCM - and will now move to compulsorily acquire the outstanding shares.

Ashton Mining (21 April 1999)

Ashton is to extend the life of its Argyle diamond mine in WA to 2006.

Aurora Gold (21 April 1999)

SUMMARY - MARCH QUARTER

MT. MURO – KALIMANTAN

• Production of 62,873 ounces of gold equivalent at a cash operating cost of US$134 per gold ounce.
• Silver recovery improved 6% to average 82% for the quarter.
• Infill and extension drilling at the Kerikil deposit, increases ore reserves by 23,000 gold equivalent ounces.
• Encouraging drill intersections continue at Langantihan vein system in the Manua prospect, the best are:
  
  - 8.6 m at 4.70 g/t Au and 84 g/t Ag from 29.0 m
  - 7.4 m at 3.40 g/t Au and 65 g/t Ag from 59.5 m
  - 8.2 m at 10.2 g/t Au and 142 g/t Ag from 31.0 m
  

TOKA TINDUNG DEVELOPMENT PROJECT – NORTH SULAWESI

• Project development deferred until after the Indonesian election, and pre-commitment construction activities scaled back.
• Infill and extension drilling at Blambangan and Pajajaren confirm known mineralisation.
• At Talawaan prospect the drilling at the Bima vein extends the mineralisation to south and southeast.
  

SAMPANAHAN – SOUTH KALIMANTAN

• Joint venture agreement with Scorpion Minerals Inc. signed.

MOROBE GOLD PROJECT – PAPUA NEW GUINEA

• Infill drilling in the central portion of the Hidden Valley deposit targeting interpreted high-grade zones intersects 60 m at 10.0 g/t Au and 104 g/t Ag, including 10.9 m at 41.6 g/t Au and 232 g/t Ag.
• Resource definition drilling nears completion at Hamata.

AUSTRALIA

• Encouraging results returned from a recent aircore Lake Carey drill program outlines a >100 ppb Au anomaly with a strike of 1000 m and a width of up to 250 m.

  ---

Australia Gas Light Co (21 April 1999)

AGL announced a $500 million debt program through the Commonwealth Bank as sole arranger. This doubles AGL's access to funds to $1 billion without resorting to new equity.

BeMaX Resources (21 April 1999)

The Murray Basin Joint Venture (MBJV) has now received all the grain size determinations of bulk samples taken. The results show that the Heavy Mineral sands prospects at Pooncarie South are coarse grained with greater than 96% being greater than 75 microns typical of a beach strand environment.

BeMaX believes that these results are a further indication of the potential high quality of any resources to be defined in the Pooncarie South region. The coarse grained nature and low slimes and fines contents provide encouragement that these deposits will be treatable by conventional processes. Following receipt of the Valuable Heavy Mineral determinations of each of the bulk samples BeMaX will be in a better position to assess the potential of the Pooncarie South prospects.

CIM Resources (21 April 1999)

An independent expert has found a takeover offer for CIM (7 cents/share) by parent RJB Mining Plc fair and reasonable. CIM's 2 independent directors agreed and recommended shareholders accept the offer.

Iron Ore (21 April 1999)

The outlook for iron ore producers has been boosted by a statement from Pohang Iron & Steel Co, the world's largest steel maker, saying it expects domestic steel demand to rise by 13% this year.

Lihir Gold (21 April 1999)

Lihir has reported March quarter gold production of 128,329 ounces, marginally above the December quarter but 8% below the March '98 quarter. Lihir has substantially reduced its 1999 production estimate from 700,000 ounces to more than 600,000 ounces - mainly due to downtime for repairs to autoclaves.

MIM Holdings (21 April 1999)

Almost 150 milion MIM shares (9%) have changed hands in the past 4 trading days - mainly purchased by overseas funds.

BHP Petroleum (20 April 1999)

President Philip Aiken has forecast no respite for crude oil prices, warning that BHP expects long-term prices to continue to decline in real terms.

Cultus Petroleum / OMV AG (20 April 1999)

OMV AG does not intend to dispose of any of Cultus' assets should it be successful in its takeover bid (66 cents/share). OMV AG plans to delist Cultus from the ASX and NZ exchange if it achieves 100% ownership. Yesterday's closing price was 73 cents, well above the offer price.

Great Central Mines (20 April 1999)

Gold production for the March quarter has fallen below forecast due to the compounding effects of scheduling and weather. Total gold output was 170,456 ounces @ a cash operating cost of $314/ounce (190,172 ounces @ a cash operating cost of $299/ounce in the previous corresponding quarter) .

Normandy Mining (20 April 1999)

Normandy has appointed John Prescott (ex MD and Chief Executive of BHP) as a non-executive director.

APPEA (19 April 1999)

Australian Petroleum Production & Exploration Association executive director Barry Jones has warned that the future of billions of dollars of new investment is under threat from proposed changes to the taxation system.A report released yesterday by APPEA and the West Australian Government shows the upstream oil and gas industry created 20,000 direct and indirect jobs and had invested $21 billion, or $3.2 million/day, since 1980. It says it has the potential to substantially increase its $5 billion a year revenue from oil and gas production.

Ashton Mining (19 April 1999)

Ashton says recent drilling at its Buffalo Hills JV in Canada has discovered 6 new kimberlites, bringing the total number discovered to 32.

Hargraves Resources / Diversified Mineral Resources (19 April 1999)

Hargraves has declared its $25 million takeover bid (10 cents and 1 Hargraves share for every 4 DMR shares) for DMR unconditional. Hargraves currently holds 56% of DMR. The DMR board has urged shareholders not to accept the offer, claiming the implied value of 12.5 cents/share was too low compared to an independent valuation which suggests a price of more than 15 cents/share.

Resolute Resources (19 April 1999)

Resolute has purchased the remaining 50% interest it did not own in the Golden Pride gold mine in Tanzania for $61 million. Production at Golden pride is being scaled up and next year is expected to produce 180,000 ounces @ US$200/ounce.

Sydney Gas Co (19 April 1999)

Sydney Gas Co plans to begin fracturing its first well in the Camden Coal Bed methane project this week. The program consists of an initial 5-holes over the Bulli coal seam, with the success of those wells resulting in an additional 20 holes over the next 6-9 months. The first 2 wells are at target depths and intersected coal seams on schedule.

Aurora Gold (17 April 1999)

Aurora will defer the development of its Toka Tindung gold project in Indonesia until after the general elections there on 7 June. The project is awaiting the final feasibility approval from the Indonesian Gov't.

In the March quaretr, Aurora produced 62,873 ounces of gold at reduced cash costs of US$134/ounce at its Mt Muro mine in Indonesia. Silver production totalled 1.019 million ounces with an improved recovery rate of 82%.

Australian Resources (17 April 1999)

Normandy Great Central Mines, Geographe and CIBC Wood Grundy are close to reaching an agreement for the restructure Australian Resources (in administration).

Merritt Mining (17 April 1999)

Merritt Mining NL (in transition to Impress Technologies Limited) has secured the rights to a substantial shareholding in Virtual Learning Network Pty Ltd ("VLN") which will operate the Education Online Network ("EON"). EON will provide tertiary education and training using multimedia content delivered via satellite, datacast and Internet platforms to students in South East Asia and around the globe. For details, click here.

Petroz (17 April 1999)

Petroz advises that it has withdrawn from Service Contract Area SC-42, in the Philippines. This follows Petroz' assessment of the exploration potential of the area.

Preston Resources (17 April 1999)

Preston has reported the first production of commercial nickel cathode at its Bulong nickel mine in WA. Commissioning of the cobalt refinery is nearing completion.

Charters Towers Gold Mines (16 April 1999)

US-based Princeton Economics International has supplied $5 million working capital (over 3 years) for Charters Towers Gold. This follows a $16 million injection by Princeton in December to help bring the company out of receivership. Princeton is now the largest shareholder.

Comalco (16 April 1999)

Comalco has warned shareholders that it is unlikely to maintain its 1998 profit level if aluminium prices and exchange rates do not improve.

Gilt-Edged Mining (16 April 1999)

GEM has advised that a combined program of RC (5,000 metres in 55 holes) and diamond core (320 metres at 7 pre-collared holes and 2 holes from surface) drilling has commenced at the highly prospective East Kundana gold project (Rubicon and Hornet deposits) located 25km west of Kalgoorlie. Planned hole depths will range from 30m to 240m for the RC drilling and from 42m to 180m for the diamond core. Drilling is expected to take 4 weeks.

OMV AG / Cultus Petroleum (16 April 1999)

Austria's OMV AG has made a $135 million bid for Cultus - at 66 cents/share, a 32% premium on Wednesday's price of 50 cents.

Pasminco (16 April 1999)

Pasminco had temporarily closed a refinery column at its Cockle Creek zinc smelter in NSW following the discovery of a zinc leakage. Refinery output would be limited to about 60% of refined metal capacity.

Rio Tinto (16 April 1999)

Rio has predicted that its iron ore sales will better last year's total despite the poor health of the markets..

Glengarry Resources (15 April 1999)

Glengarry has begun an initial $1 million drilling program at its Larranganni project in WA's Tanami desert.

Normandy NFM (15 April 1999)

NFM has reported a substantial drop in profit for the 9 months to 31 March. After-tax profit fell from $28.7 million to $15.3 million, mainly due to the switch over to underground mining at its Callie mine in the NT.

Oil Search (15 April 1999)

Oil Search has reached agreement with Exxon to ensure ample gas supplies for the proposed PNG to Qld gas pipeline, should appropriate commercial terms for gas contracts be agreed. This removes the need for Comalco to commit as a customer. The pipeline could be operational by 2002.

Walhalla Mining (15 April 1999)

Walhalla has been suspended.

WMC (15 April 1999)

March Quarter - Production Overview

Nickel

Smelting operations ceased at the Kalgoorlie Nickel Smelter on 3 January 1999 due to a
leak in the furnace hearth. The furnace hearth reline planned for 2001 was brought
forward to ensure safety and to secure production reliability. The reline proceeded
smoothly with the furnace recommissioned ahead of schedule on 4 March 1999. The new
furnace hearth has an estimated life of ten years.

As a result of the disruption, mining and nickel output were substantially curtailed, affecting
production of concentrate, matte and metal. Production of nickel-in-concentrate was
13,477 tonnes, nickel-in-matte 6,826 tonnes and nickel metal 7,442 tonnes.

On 15 March 1999, WMC announced that two further underground mines at Kambalda
Nickel Operations (Long/Victor and Mariners) will be placed on care and maintenance
and that Kambalda's production will be reduced from 20,000 to 10,000 tonnes of
nickel-in-concentrate in 1999. The Otter/Juan mine also moved on to care and
maintenance in March 1999 as part of a program announced in September 1998. The
reductions are in response to the weakness in nickel price and to maintain the
competitiveness of WMC's nickel business.

Nickel in matte production from the Kalgoorlie Nickel Smelter in 1999 will reduce by
8,000 tonnes to approximately 78,000 tonnes as a result of these changes.

Nickel Exploration

At Kambalda, drilling continued at North Miitel with further intersections of 6 metres at 3.1%
nickel, 6 metres at 2.1% nickel and 4.4 metres at 1.9% nickel. Ore grade mineralisation has
now been located over a strike length of 320 metres.

At Leinster, underground drilling continued to return encouraging results from Progress
Shoot located 300-400 metres north of the main Perseverance disseminated ore body at
depths of 850 to 1,050 metres. Intersections from 6 drill holes ranged from 9 metres true
width at 4.2% nickel to 17.6 metres true width at 1.5% nickel.

Alumina (AWAC)

Alumina production was slightly lower than the previous quarter at 3.05 million tonnes. At
Wagerup, expansion tie-ins commenced resulting in a minor short-fall of production.

Production of aluminium was also lower at 80,369 tonnes. On 23 March, AWAC
announced it will shut down indefinitely its 30,000 tonnes per year smelter in Suriname,
effective immediately.

Gold

Production of gold for the quarter was 183,348 ounces, 13% lower than the previous
quarter.

Production for the quarter at St Ives Gold was lower due to a planned nine and a half day
mill shutdown in January combined with a planned lower head grade.

At Agnew Gold Operation production was affected by anticipated lower mined tonnages
and reduced grades from the Redeemer mine.

Production remained steady at Central Norseman Gold Corporation Limited where the
Bullen West decline was completed. Development of the Bullen West orebody continued
with significant extension to the orebody boundaries.

Gold Exploration

At St Ives Gold, exploration results at Argo-Apollo, included 24 metres at 6.11 grams per
tonne and 19 metres at 2.56 grams per tonne.

Other drilling at Argo returned high grade intersections of 49.5 metres at 8.7 grams per
tonne and 40.0 metres at 12.6 grams per tonne. These results are consistent with previous
intersections of 21 metres at 7.47 grams per tonne and 19.4 metres at 9.7 grams per
tonne.

At the Agnew Gold Operation surface diamond drilling at the Emu mine was successful in
confirming a down dip extension to the main lodes. Results received to date include 40
metres at 6.1 grams per tonne and 35 metres at 4.2 grams per tonne true width.

At Central Norseman Gold Corporation, detailed geological assessment is in progress at
the nearby Gladstone prospect following recent reverse circulation and diamond drilling
intersections of thin mineralised veins. Promising results include 3 metres at 5.2 grams per
tonne, 1 metre at 4.8 grams per tonne and 2 metres at 5.6 grams per tonne, and indicate
potential for an open cut resource.

Copper & Uranium

Copper production was 21,921 tonnes. As Olympic Dam Operations' new smelter was
commissioned, production increased. The mill recorded a production record during the
quarter. Uranium production was 498 tonnes.

On 30 March, commissioning of the new smelter was disrupted by a failure in the blower
between the smelter and acid plant. The cause of the failure is under investigation,
however it is expected that Olympic Dam will meet its planned production tonnages for
1999. The smelter is scheduled to resume operation in the second half of April. Before this
disruption, the smelter had reached 78% of its design capability, well ahead of plan.

Industrial Minerals

Production of lump talc at Three Springs decreased to 25,974 tonnes in the first quarter
due to a three-week scheduled maintenance period in January.

Equity in production of milled talc decreased to 53,712 tonnes.

Exploration

Exploration continued in Australia, Brazil, Canada, Chile, China, French Guiana and
Indonesia.

Exploration Expenditure

Unaudited cash expenditure on grass roots exploration was $9.1 million. Of this amount,
$3.6 million was spent in Australia and the remaining $5.5 million was spent overseas.

Projects

Olympic Dam Expansion Project

The Olympic Dam Expansion was officially opened with the plant planned to steadily
increase to full production during 1999. The solvent extraction plant is nearing completion,
with the slimes treatment plant in operation soon thereafter.

The construction workforce continues to be demobilised.

Queensland Fertilizer Project

Construction of all plant facilities at Phosphate Hill, Mount Isa and Townsville progressed
according to plan with natural gas connected to the Phosphate Hill site.

The project cost is on budget and completion of the construction phase remains on
schedule.

Recruitment of operational personnel progressed well, with approximately 70 of the final
complement of 250 staff hired at the end of the quarter. Specialised technology training
has commenced.

The project achieved a major safety achievement of one million hours free of lost time
injury.

Zarmitan Gold Project (Uzbekistan)

Government agencies of the Republic of Uzbekistan have signed a Joint Venture
Agreement with WMC for the evaluation and development of the Zarmitan gold deposits,
90 kilometres north-west of the ancient Uzbek city of Samarkand.

Wesmeg Gold Project
(Nunavut, Canada) (WMC 56%)

Following analysis of the 1998 drilling program, the inferred mineral resource of the
Wesmeg Gold Project (comprising the Tiriganiaq, Pump, Wolf and F Zones) is 23.7 million
tonnes at 8.5 grams per tonne gold at a 3.0 grams per tonne cut-off grade.

Preparation for the 1999 Canadian summer drilling program was undertaken and
environmental baseline studies continued.

In accordance with the Nunavut Land Claims Agreement signed in 1993, Nunavut Territory
was established as a distinct territory of Canada on 1 April 1999, separate from the
Northwest Territories. The Wesmeg Gold Project is located in the Nunavut Territory. The
Wesmeg Gold Project mineral claims maintain pre-existing tenure rights under the Nunavut
agreement.

Pinares Nickel Project (Cuba)

The first year of a three year evaluation program involving detailed geological, mining,
metallurgical, environmental and infrastructure studies was completed during the March
quarter.

Studies have been initiated on process refinement and cost optimisation. These studies,
as well as standardisation of geological data, mine planning, environmental baseline and
infrastructure studies, are continuing.

Technology

Successful prototype trials to improve safety and increase productivity through automating
underground loaders took place during the quarter. The automated loader trammed and
manoeuvred under its own control at an isolated WMC underground trial site. A larger
loader is being fitted out for trials under production conditions.

Woodside (15 April 1999)

Woodside said the North West Shelf JV has sold four 125,000 cu m cargoes of LNG to CMS Marketing Services & Trading Co of the US.

BHP (14 April 1999)

BHP has has sold its 42.61% stake in the Bayu-Undan gas-condensate field in the Timor Sea to Phillips Petroleum - for an estimated $300 million, yielding an abnormal profit of about $110 million.

Coal & Allied Industries (14 April 1999)

CAIL has recorded a net profit in 1998 of $88.46 million - a $109 million turnaround from the previous year's loss. CAIL has warned that lower world coal prices will put the company's future profits under pressure.

Eastern Goldfields (14 April 1999)

Eastern Goldfields is asking the ASX for a change of classification tomorrow from its status as a mineral explorer - possibly re;lated to the IT industry. Shares in Eastern have risen from 6 cents to 14 cents this week.

Normandy Mt Leyshon (14 April 1999)

Mt Leyshon has reported a 32% fall in third-quarter profit, but says it remains well ahead of the same time last year and on track to set record production of 300,000 ounces of gold this year. Record output, lower costs and higher margins have helped net profit rise 76% to a record $34.6 milion for the 9 months to 31 March.

Sovereign Resources (14 April 1999)

Sovereign has approved the development of a $78 million manganese project following positive results from a feasibility study. The project is forecast to produce 15,000 tonnes of electrolytic manganese dioxide and 10,000 tonnes of manganese sulphate a year to generate annual revenues of $44 million and an estimated operating surplus of $22.4 million.

WMC (14 April 1999)

WMC Resources Ltd will spend $11 million building Australia's largest talc mill in Western Australia. The mill will have an initial annual capacity of 35,000-45,000 tonnes.
WMC owns and operates the Three Springs Talc mine in Western Australia and numerous talc mines and plants within the Mondo Minerals Joint Venture in Europe. Presently the Three Springs mine produces and exports only lump talc.
Executive General Manager Industrial Minerals and Fertilizers, Andrew Michelmore, said the favourable market outlook, particularly in South East Asia, made it feasible to process the lump talc in Western Australia.

Woodside Petroleum (14 April 1999)

Woodside has purchased News Corp's interests in the undeveloped gas fields in Bass Strait - a 10% interest in the Kipper field and a 23.53% interest in the adjoining Basker-Manta-Gumy fields for $18 million.

BHP Petroleum (13 April 1999)

BHP has announced a potential 800 million barrel oil equivalent discovery in the Gulf of Mexico. Well testing at the Mad Dog prospect had delineated 100 metres of hydrocarbons, primarily crude oil.

Bougainville Copper (13 April 1999)

BC said it was unlikely to reopen the Panguna copper-gold mine in PNG as it would cost about $1 billion and take 3 years.

Minasco Australia / Sons of Gwalia (13 April 1999)

Acting under instructions from Sons of Gwalia - due to the completion of mining, Minasco is putting to tender the Nevoria Gold Treatment Plant at Marvel Loch, WA. Tenders will close on 25 June. For details, click here.

New Hampton Goldfields (13 April 1999)

New Hampton Goldfields Limited is pleased to release more encouraging drilling results and to present a summary plan from our 100% owned Enigma / Phobos Project, 4.5km west of the Jubilee Mill.

Key Points

• The Enigma project area has been extended to include the Phobos area to the north where significant mineralisation has now been identified. Both areas are located on 100% owned freehold land where a relatively quick development can take place.
• At Enigma and Phobos significant supergene gold has been intersected along with an indication of gold in a paleochannel.
• In the bedrock below the supergene mineralisation at Enigma a series of steeply plunging primary lodes have been intersected. Understanding of these lodes is at an early stage. To date only limited deep drilling has been done at Phobos.
• To date most of the deeper drilling has been concentrated in the vicinity of a high grade lode, which has previously returned intersections of 32m at 23.2 g/t gold from 175m, 18m at 5.9 g/t from 188m, 27m at 9.42g/t from 154m and 7m at 12.52 g/t from 208m , further significant reverse circulation and diamond drill hole intercepts have now been returned including:-
  • 17m @ 9.97 g/t from 64m,
  • 8m @ 14.31 g/t from 232m,
  • 4m @ 12.66 g/t from 212m,
  • 4m @ 15.15 g/t from 223m.
• The Enigma system remains open in most directions and we are encouraged by the depth extent encountered to date.
• More encouraging results have also been returned from the partially completed air core drilling programme which is designed to test the full extent of the supergene anomalies at both Enigma and Phobos. Recent results from the air core programme include:-
  • 6m @ 6.76 g/t from 84m,
  • 3m @ 3.59 g/t from 58m,
  • 4m @ 3.00 g/t from 12m.

For additional information, click here.

Normandy Mining / Great Central Mines (13 April 1999)

Normandy and GCM's Joseph Gutnick have acquired more than 90% of GCM through the $1.50/share offer.

Normandy Mining / Homestake (13 April 1999)

Cost cutings at the Super Pit gold operations at Kalgoorlie in WA have resulted in the sacking of 80 workers.

Orogen Minerals (13 April 1999)

Orogen has confirmed that it will soon increase its stake in the Porgera gold JV in PNG tp 20% - by buying half of the PNG Government-owned Mineral Resource Development Co's 10% stake for about $25 million.

Ramsgate Resources (13 April 1999)

Ramsgate said it would pursue growth through acquisitions in the IT sector.

Rio Tinto / Comalco (13 April 1999)

Rio has increased its stake in Comalco to 72.36% (from 70.41%).

Star Mining (13 April 1999)

There is some speculation that Star Mining is backing an Internet play.

Technology developed at South Australia's Ladbroke Grove power station to burn off carbon dioxide emissions in gas turbines has added life to a group of fields at Katnook being developed by Boral and Omega. The construction of the power site has increased the value of the gas reserves from virtually nil to at least $80 million.

Emperor Gold Mines (12 April 1999)

Emperor is trialling a technoloy, developed by Anglo American, using a diamond-studded chain to cut free narrow bands of high-grade rock which could revolutionise underground mining by significantly reducing waste material. The Vatakoula gold mine consists of narrow, high-grade, veins.

Mt Burgess Gold Mines (12 April 1999)

Mt Burgess has entered into a JV to explore for diamonds in Namibia. Earlier aeromagnetic work defined several possible kimberlite pipe targets.

Esso Australia Resources (10 April 1999)

Esso has announced a 36% fall in net profit for 1998 to $309 million, mainly due to a 34% fall in oil prices and the Longford explosion.

Straits Resources (10 April 1999)

HIGHLIGHTS - 1998 ANNUAL REPORT

• SALES REVENUE INCREASED BY 140% TO $78.4 MILLION
• EARNINGS BEFORE INTEREST, TAX AND ABNORMAL WRITE-OFFS OF $4.9 MILLION
• CASH FLOW GENERATED BY OPERATIONS OF $9.6 MILLION
• NIFTY AND GIRILAMBONE COPPER PRODUCTION OF 26,050 TONNES
• SEBUKU COAL PRODUCTION OF 1.05 MILLION TONNES
• TRITTON COPPER PROJECT FEASIBILITY STUDY COMPLETE
• COMPANY RAISED $16 MILLION FROM AN UNDERWRITTEN CONVERTIBLE NOTE ISSUE
• LOAN FACILITY OF $62 MILLION ARRANGED WITH BANKERS TRUST AUSTRALIA LIMITED

For complete details of the Annual Report, click here.

Trans-Global Resources (10 April 1999)

Trans-Global has requested a trading halt on its shares pending an announcement on a possible acquisition.

Beaconsfield Gold / Allstate Exploration (9 April 1999)

Initial mining on the 480C level below old workings at the Beaconsfield mine had returned an average grade of 25.8 g/t Au (compared to the average reserve grade for the 480C stope of 21.7 g/t gold), with individual assays up to 466 g/t. For additional information, click here.

BHP (9 April 1999)

BHP Steel believes its key South-East Asian downstream operations in Thailand and Indonesia have survived the worst of the regional crisis after early signs the slump in demand is bottoming out.

Carnegie Minerals (9 April 1999)

Carnegie is embarking on a large mineral sands venture in the West African nation of The Gambia - where mineral sands were mined by the British during the 1950's. Resources identified indicate 660,000 tonnes of ilmenite, 135,200 tonnes of zircon and 30,500 tonnes of rutile.

Emperor Mines (9 April 1999)

Emperor Mines directors are expecting a cash bid from Durban Roodepoort Deep. DRD recently withdrew a scrip offer.

GME Resources (9 April 1999)

A successful drilling program at the Mt Kilkenny project (near Murrin Murrin in WA) had boosted its nickel laterite resources by 150% to 30 million tonnes @ 1.07% Ni and 0.08% Co.

Hargraves Resources / DMR (9 April 1999)

Hargraves has taken control of DMR after obtaining 54.37%; the company has also extended the offer until 30 April.

Rio Tinto (9 April 1999)

Rio's share price rose mainly due to an improving copper price - the LME copper price rose US$29/tonne to US$1,433.50/tonne.

Spinifex Gold (9 April 1999)

Spinifex plans to merge with Vancouver-listed East Africa Gold Corp - in a move set ti give Spinifex control of its Tanzania gold prospects.

WMC (9 April 1999)

Repairs to the acid plant at the Olympic Dam Copper Uranium Operation in South Australia are progressing well and are expected to be completed in about two weeks.
The acid plant and the copper smelter were shut down on 30 March after a blower taking the off-gases from the smelter to the acid plant failed. This caused severe damage to the blower, the blower building and some equipment surrounding the area. The investigation into the cause is continuing.
The shut down of the copper smelter and acid plant has not affected the concentrator or the refinery of the Olympic Dam processing plant. At the time of last week's incident, the Operation held several weeks of copper anode available to the post smelting production process. Ongoing production of copper concentrate is being stored pending the smelter restart.
It is not expected that the 1999 full year production of copper cathode will be affected by this incident although some immediate deliveries could be affected.

Anaconda Nickel (8 April 1999)

Anaconda is finally producing unrefined nickel and cobalt at its Murrin Murrin project in WA. Earlier delays, and the weaker nickel and cobalt prices, led ratings agency Moody's Investors Service to downgrade the company's bond issues that financed the project.

Apache Corp (8 April 1999)

Apache has increased its stake in the East Spar and Harriet oil fields off WA's coast by buyiong out British Borneo Oil & Gas plc's interests there (10% & 8.4% respectively) for a cash consideration of $127 million and interests in 11 leases in the Gulf of Mexico.

Henry Walker / Eltin (8 April 1999)

Henry Walker has announced it is entitled to 61% of Eltin and has moved to take control. The resulting merged company will be called Henry Walker Eltin.

Merritt Mining / Impress Technologies (8 April 1999)

Merritt Mining NL (to become Impress Technologies Limited) is pleased to announce that Andrew Cohen has been appointed a Director. Andrew is the Communications and Technology Analyst/Strategist for Australian Capital Equity Pty Ltd (ACE) and is a director of a number of ACE Group companies. He has over 17 years experience in information technology, communications and media industries within ACE.
The Board of Directors has now been reorganised to provide for the expansion of the ITC Division which was approved by shareholders last week. Considerable information technology and communications experience has now been added to the Board with the new appointment of ACE executive Andrew Cohen and the election of previously appointed Sean Gentry (Seven Network's General Manager, Telecommunications & Interactive Services) and Chris Singleton (information technology and communications consultant). These three Directors are at the forefront of Australia's information technology and communications industry. For additional information, click here.

Resolute / Taipan Resources (8 April 1999)

Resolute's joint bid for Taipan will proceed following clearance from ASIC. The offer involves giving Taipan shareholders 18 cents in cash and 4 cents worth of shares in Preston Resources, in which Resolute and taipan are both shareholders.

Santos (8 April 1999)

Santos said there was still only a 50% chance the $5.56 billion plan to pipe natural gas from PNG to Qld would go ahead. The project has yet to sign any firm contracts with customers.

Woodside / Oil Search (8 April 1999)

There are rumours that Woodside is proposing a 15-20% placement in Oil Search at $2.00-$2.10/ share.

Africwest Gold (7 April 1999)

Iscor, South Africa's seventh largest industrial company, will take a 57% stake in Africwest and give it exploration interests in return for 70 million Africwest shares. The exploration licences are in Tanzania, Uganda, the South Pacific region and Kazakstan.

BHP Coal (7 April 1999)

BHP has welcomed the Queensland Government's decision to scrap royalties - up to 19% - on some of its coal mines. The change to a uniform royalty of 7% for all coal mines in Qld will see other miners' royalties jump as much as 75%.

WMC (7 April 1999)

WMC says its new copper smelter at Olympic Dam, which was shut down last week, will be repaired and restarted within 2 weeks.

Woodside Petroleum (7 April 1999)

Woodside has committed to more exploration work in the waters off Cambodia - it will conduct exploration over an 18,000 sq.km area in the Gulf of Thailand over 15 months.

The Sage#1 well between Mobil Exploration and Production's Wandoo oil development and Woodside's proposed legendre project in the Carnarvon Basin in WA, has flowed oil at the rate of 1180 barrels a day and gas at 328 million cubic feet/day through a 24/64 inch choke.

ARC Energy (6 April 1999)

ARC Energy, together with British-based Amalgamated Scottish Oil, will begin a $32 million drilling program on the old Dongara/Barrow Island field in the third quarter.

BHP Petroleum (6 April 1999)

BHPP is looking at a sweeping review that may lead to its Australian operations being cut by up to 300 employees.

BP Amoco / Atlantic Richfield (6 April 1999)

BP Amoco has acquired Atlantic Richfield (ARCO) for $42 billion..

Carpenter Pacific (6 April 1999)

CP has received additional encouraging drill results from its Mt Kare gold project in PNG, including..."the presence of high-grade gold associated with quartz roscoelite" - a common occurrence at the nearby Porgera mine.

Glengarry Resources / New Hampton Goldfields (6 April 1999)

Glengarry has entered into a JV with NHG to sell its Coolgardie gold project in WA for $475,000.

Macmin (6 April 1999)

The initial bench scale, column leach test of silver bearing ore from Twin Hills Project at Texas has confirmed the encouraging silver recovery announced on 1 March 1999. 72.4% of silver was recovered from a 30kg column test over a leach period of 17 days.
Pre-feasibility studies of mining, crushing and other costs relating to heap leach extraction of silver at Texas are underway. For details, click here.

Minproc (6 April 1999)

Minproc has announced a 1-for-5 share consolidation and share buyback. The group's major shareholder, Gold & Resources Developments NL, would not participate in the buyback and would merge with 40.5% of the streamlined company.

Gawler Gold (2 April 1999)

DINGO RANGE GOLD PROJECT

The Directors of Gawler Gold and Mineral Exploration NL ("Gawler") are pleased to announce that the Company has entered into a legally-binding Heads of Agreement dated March 29, 1999 whereby it will acquire a 50 percent interest in the Dingo Range Gold Project (the "Project") and take a placement of shares in Julia Mines NL - ASX code: JLA ("Julia"), a current equal owner of the Project.

The Project is located approximately 400 kilometres north of Kalgoorlie, Western Australia in the highly-prospective Yandal region of the North-Eastern Goldfields. The Project is currently controlled equally by Julia and Money Mining NL - ASX code: MOM ("Money").

TECHNICAL INFORMATION

The Dingo Range Gold Project delivers to Gawler a 50 percent equity participation in advanced exploration and development of known gold resources located in the Yandal region of Western Australia. Exploration within the Project area to date has intersected significant gold mineralisation including estimated inferred resources of 8 million tonnes at an average grade of 1.5 g/t gold representing insitu 388,000 ounces of gold. Drilling programs are planned to commence in mid-April 1999 to test and quantify extensions of known resource mineralisation.

The Project area comprises a tenement group covering approximately 500 square kilometres in part encompassing the Wonganoo Greenstone Belt, some 35 kilometres to the east of the Yandal Greenstone Belt and Great Central Mines Ltd.'s Bronzewing gold mining operations. For additional information, click here.

Merritt Mining (2 April 1999)

The name of the company will become Impress Technologies Limited as soon as the ASIC issues a new Certificate of Registration. The status will change to that of a public limited company. A new Constitution has been adopted.

Information Technology and Communications ("ITC") Division.

The Directors have been given approval to expand the nature and scale of activities of Merritt into information technology and communications. A company may be required to obtain the approval of its shareholders if it proposes to make a significant change, either directly or indirectly to the nature and scale of its activities. In February 1999, Merritt announced the creation of its new ITC Division. The purchases and other arrangements relating to the creation of the ITC Division did not require shareholder approval at that time, however, it was explained to shareholders the likelihood that the ITC Division will expand. Shareholders were asked to give the Directors a clear mandate to follow this ITC direction and its likely expansion, which they have.

Sean Gentry and Christian Singleton were elected as Directors of the company.

The issues of 8,000,000 shares and 10,000,000 options relating to the creation of the ITC Division were approved. The approvals for the share issues have the effect of reinstating the company's 15% placement power. The 8,000,000 shares are voluntarily restricted from dealing for 12 months. The Directors were also given approval to issue up to 10,000,000 ordinary shares within three months of the meeting.

For additional information, click here.

Acacia Resources (1 April 1999)

Acacia is seeking to increase its gold output by acquisition and is prepared to look offshore, according to chairman Peter Wade.

BHP (1 April 1999)

BHP has moved to shut down the open-pit operation at its troubled Hartley platinum mine in Zimbabwe after grades at the supplementary operation continued to decrease. Underground mining continues to be plagued by geological and personnel problems.
It is rumoured that BHP is preparing to sell its 67% stake, possibly to Anglo American Platinum for about $111 million. Anglo would probably close the mine and use the smelter to process its own concentrate.

Great Central Mines (1 April 1999)

Yandal Gold has announced a 2-week extension to its bid for GCM - to 20 April.

WMC (1 April 1999)

A breakdown at the Olympic Dam Copper Uranium Operation has caused the acid plant and the smelter to be shut down.
No injuries were sustained.
The blower taking the off-gases from the smelter to the acid plant failed causing severe damage to the blower, the blower building and some equipment surrounding the area.
The smelter and acid plant have been taken out of production and will be down for a period of time. This is unlikely to affect other parts of the processing plant.
The operation holds several weeks of copper anode available to the post smelting production process to ensure ongoing output.
Ongoing production of copper concentrate will be stored pending the smelter restart.
It will be some days before the final assessment of the damage and remedial work can be made at which time further details on the downtime will be provided.