Alliant Energy (31 August 1999)

US utility Alliant is to acquire a 10% stake in infrastructure investor Infratril through a $32 million share placement.

Aurora Gold (31 August 1999)

HALF YEARLY REPORT TO 30 JUNE 1999 - SUMMARY

• Uncertainty in Indonesia continues to impact on the Group’s operations.
• Write down of certain of the Company’s assets by $20 million in recognition of the lower gold price environment and increased sovereign risk in Indonesia.
• Profit before tax and abnormal items for the half year $8.4 million.
• Bullion production at Mt Muro in Central Kalimantan of 118,261 gold equivalent ounces.
• Cash operating cost down 11% to US$149 per gold ounce.
• Cash operating cost per tonne milled of US$28, down 22%.
• At. Mt. Muro, drilling around Kerikil and the Langantihan vein system at Manua and surface exploration elsewhere in the Contract of Work continue to generate promising results.
• Exploration at Talawaan in North Sulawesi continued to increase the strike length of the Bima vein system and located new mineralised systems.
• At Hidden Valley in Papua New Guinea, drilling continues to increase Aurora’s understanding of the deposit geology and to identify new zones of mineralisation.
• At Lake Carey in Western Australia, aircore drilling has outlined an 800m by 100m zone of supergene gold >0.5 g/t Au.
• Asset Write-Down
  The Directors have decided that a write-down of the carrying value of certain of the Company’s assets is appropriate in recognition of the lower gold price environment and their assessment of increased sovereign risk in Indonesia. The amount of the write-down is a total of $20 million, of which $15 million relates to the Toka Tindung Project and $5 million to operations at Mt. Muro.

Gawler Gold and Mineral Exploration (31 August 1999)

Golden Cross Resources / Delta Gold / Placer (31 August 1999)

Placer (Granny Smith) has reported further encouraging results from GCR’s 100%-owned Laverton gold project in WA.
The results have been received from the northern of GCR’s two exploration licences comprising the project. The northern licence is known as Merolia and lies approximately 30 km northeast of Placer/Delta Gold’s Granny Smith Mine. Placer/Delta may earn a 70% interest in the project by completing a bankable feasibility study by May 2002.

A total of 37 holes were drilled on a 100m by 100m grid, to an average depth of 3.2m, for a total of 119m. Results were again encouraging, including 161 ppb and 158 ppb gold from adjacent holes and 880 ppb gold (0.88 g/t) from a hole to the north. Significant gold assays were commonly associated with significant arsenic assays.

The gold anomaly is now 700m long by 400m wide and open to the north and south. Aeromagnetics point to a proximal fault structure parallel to the strike of the anomaly.

Goldstream Mining (31 August 1999)

Goldstream has announced encouraging RC drilling results from its Mt Gee uranium prospect, near Mt Painter in SA. @ of the 3 holes intersected significant widths of uranium mineralisation associated with rare earths, copper, silver and molybdenum. Hole GE003 intersected a 54m interval within an iron-rich zone averaging 1.6kg/t U₃O_8, 0.35% rare earths, 0.1% Cu and 1 g/t Ag. Follow-up drilling is planned.

Newcrest Mining / Acacia Resources (31 August 1999)

Boddington’s Wandoo resource increased 31% to 15 million ounces.

The resource estimate for the combined Wandoo North and South at Boddington (Newcrest share 22.22%, Acacia 33.33%) has been further increased to 440 million tonnes at 1.1g/t of gold and 0.11% copper in situ. The resource contains 15 million ounces of gold and 500,000 tonnes of copper, an increase of 31% in contained gold and 26% in contained copper when compared to the previous resource estimate announced on 10 March, 1999, which only included Wandoo South.
Wandoo North incorporates resources from the Hedges mined area, acquired at the end of last year, and straddles the former boundary between Hedges and Boddington. The Wandoo South resource has been re-estimated using the parameters adopted for the Wandoo North estimate. The new resource estimate was developed from costs estimated for an operation taking advantage of significant economies of scale. The main changes in assumptions were the extensive use of 12-metre benches instead of 9-metre and a plant throughput of 18 million tonnes a year instead of 11 million tonnes a year. These assumptions will require confirmation during the ongoing feasibility study. Combination of the two resources reflects the feasibility development plan which involves concurrent mining from both areas.
If a throughput of 18 million tonnes a year proves achievable, the feasibility study shows that annual gold production would then average about 500,000 ounces at lower cash costs than indicated in the previous feasibility study.

Newcrest Mining (31 August 1999)

Audited Financial Statement Twelve Months ending 30 June 1999

Summary

Net operating profit after income tax, abnormal items and outside equity interest	$21.6 M
Operating profit before income tax and abnormal items	$31.7 M
Achieved gold price	$623/oz
Net interest expense	$11.6 M
Capital, feasibility, development expenditure and exploration expenditure	$248.9 M
Draw downs under the $600 million debt facility	$65.0 M
Cash on hand at 30 June 1999	$26.6 M

Other Matters
Wet commissioning of the processing facilities at the Gosowong Gold Mine in Indonesia commenced on 1 July 1999, and the commissioning programme has progressed satisfactorily. Construction and start-up have been achieved on time and within budget. On 20 August 1999, operations at the mine were temporarily suspended following civil unrest in two villages located approximately 30 kilometres from the mine. Operations resumed on 26 August 1999. The plant is still expected to be at full capacity, with commissioning complete, by the end of September 1999.

Financials
Profit After Tax
The operating profit after income tax and abnormal items but before outside equity interest for the year was $20.4 million compared to a profit of $0.2 million in the prior year. This substantial turnaround in performance was principally due to successful commissioning of the new Cadia Hill mine in central New South Wales in the first quarter of the year. Group gold production rose by 260,738 ounces to 710,839 ounces for the year. Cadia Hill accounted for 253,670 ounces of the overall 57.9% increase in gold production. In addition, the Group’s total cash cost, determined under the North American Gold Institute Standard, fell by $63 an ounce (15.5%) to $344 an ounce for the year. The result included an abnormal reduction in the income tax expense of $6.8 million, related to a reduction in the deferred tax liability.

Exploration
Exploration expenditure charged against income totalled $43.9 million in the year compared to $38.4 million in the prior year. All exploration expenditure in the year was expensed except for costs relating to Mt Marion exploration at New Celebration, the Sulphide Extension and I Series Reefs projects at Telfer and Ridgeway exploration.
In March 1999 the decision was taken to refocus the exploration activities. Future exploration is to be focussed more closely on domestic greenfields sites, the Halmahera contract of work in Indonesia and brownfields sites at Telfer, New Celebration, Cadia and Gosowong. Exploration projects in the Americas were terminated and exploration activity in Indonesia has been substantially scaled back. This change will reduce next year’s exploration expenditure.

North Limited (31 August 1999)

ANNUAL RESULTS TO 30 JUNE 1999

The North Board today announced a net profit before abnormal items of $115.0m, a 33% decrease compared with the 1997/98 results. The net loss after abnormal items of $141.4m (principally due to a write down of $150.4m for the Company's interest in Minera Alumbrera Limited) was $26.5m.

The North Board today announced a net profit before abnormal items of $115.0m, a 33% decrease compared with the 1997/98 results. The net loss after abnormal items of $141.4m (principally due to a write down of $150.4m for the Company's interest in Minera Alumbrera Limited) was $26.5m.

Earnings per share before and after the abnormal items were 15.3 cents and (3.5) cents per share respectively compared with 21.5 cents and 15.5 cents per share respectively for 1997/98.

YEAR IN REVIEW

• A 33.0% decrease in the Group's Net Profit (before abnormals) compared with the 1997/98 result and a 125.6% decrease after allowing for the abnormals.
• The abnormal items making up $141.4m, comprise a write down of $150.4m for the Company's interest in Minera Alumbrera Limited partly offset by a net abnormal revenue of $9.0m relating to a change in accounting treatment for the forest holdings.
• A final dividend of 9 cents per share fully franked at 36%. This brings the total dividend for the year to 14 cents per share, unchanged from previous year.
• Robe - established a financial year EBIT record of $166.7m.
• IOC - significant reduction in sales and iron ore prices reduced EBIT by 66%.
• ERA - a creditable result given lower spot prices.
• Warman - established a financial year EBIT record of $45.8m due to cost reduction initiatives, an increased share of spare parts in the sales mix and a one off accounting adjustment.
• North Forest Products - decline in EBIT due to reduced demand and prices.
• Zinkgruvan - EBIT stable at about $20m.
• Northparkes - EBIT drop due to lower metal prices.
• Alumbrera - financial performance continues to be affected by low copper and gold prices.
• Kanowna Belle - whilst the operation established an annual production record of 300,877 ounces (100%), increased costs and depreciation associated with sourcing ore from the underground mine had a net detrimental impact on EBIT.

Shell (31 August 1999)

Shell plans to sell its Australian coal operations as part of a strategic withdrawal from the world coal markets. The assets include 7 open-cut and underground JV coal mines and a 50% stake in the 840MW Callide power plant project in Qld. Shell has proposed an International tender - expected to raise up to $2 billion.
Analysts tip Rio Tinto and BHP as possible bidders.

Aluminium (30 August 1999)

The aluminium industry is set for a rationalisation with the proposed merger of Alcan of canada, Pechiney of France and Alusuisse-Lonze of Switzerland to form the APA Group. The merged group would be of similar strength to Alcoa.

Amadeus Petroleum / Sydney Gas Co (30 August 1999)

Sydney Gas Co has farmed out 3 of its coalbed/methane gas licence areas around Sydney to Amadeus. Amadeus has agreed to drill 5 wells to test for oil and will earn a 50% interest in crude oil rights.

AME Mineral Economics - Commodities (30 August 1999)

Coal imports (mainly steaming coal for electricity generation) by both Japan and South Korea will continue to recover through 1999 to slightly exceed 1998 levels, according to AME's August monthly metals bulletin. However, prices may be adversely affected by South African producers dumping coal into Asia after losing European markets.
New Zealand's plan to mount a coking coal export drive will be hit by the decision to close the Mt Davy mine.

Nickel demand has continued to surprise the industry this year with the price recovery set to run further. Is is expected there will be a market deficit between supply and demand this year for the first time since 1995. The report forecasts a nickel price of US$2.55/lb before the end of the year, with US$3 in prospect for 2000.

Australian lead and zinc production has surged in the first 6 months of 1999, enabling Australia to pass Canada to become the world's second largest producer behind China. Zinc prices are continuing to improve, however the trend for lead remains flat.

Copper prices have stabilised after fears of an oversupply were eased by the closure of a number of mine and smelter operations in recent months. AME is now predicting a projected surplus this year of 200,000 tonnes, with "the very real prospect of achieving a balanced market in 2000".

Gindalbie Gold (30 August 1999)

Drilling has commenced on Gindalbie's Paterson West copper-gold project, 40km north-west of Newcrest's Telfer gold deposit in WA. Gindalbie is looking for mineralisation similar to that recently delineated at the nearby BHP/Croesus Mining's magnum prospect. Gindalbie hold 100% of Paterson, with BHP having a 70% clawback right if an inground resource worth more than $2 billion is discovered.

Gold Sales (30 August 1999)

The US Congress is strongly opposed to the proposed sale of up to 10 million ounces of gold by the IMF as it believes the resulting fall in the gold price would hurt many of the countries that would receive funds from the sales.

Jervois Mining / Goldstream Mining / Titan Resources (30 August 1999)

Jervois has acquired an area adjacent to its Dolcoath licence in NW Tasmania from Goldstream and Titan, in return for a royalty deal. Goldstream and Titan have spent $300,00 on drilling which delineated 135,000 tonnes @ 3.2 g/t Au and 0.14% bismuth.

Kimberley Oil (30 August 1999)

Kimberley has acquired an option over coalbed methane resources in Poland's 7500km² Upper Silesian Coal Basin . There are 61 known coalbeds with an average thickness of 8m. Hard coal resources in the Polish section had been calculated at just over 100 billion tonnes and estimates of the size of the methane gas in the seams range from 12.3 trillion cu. ft to 45.9 trillion cu.ft.

Majestic Resources (30 August 1999)

Majestic says drilling along the Vaal River in South Africa has delineated an extension of the rich diamond-bearing Droogeveld Channel.

Acacia Resources (28 August 1999)

January – June 1999 Financial Highlights

Acacia announced its Preliminary Final Results for the six months transitional period to its new balance date of 30 June 1999, reporting net profit after tax from operations before abnormals of $12.1 million (calendar year 1998: $34.4 million) and abnormal items due to writedowns in carrying values of mining and exploration properties of $32.9 million after tax.
Cash generated from gold operations in the six month period was $69.4 million (calendar year 1998: $120.3 million).
Profitability was maintained at Boddington and Tanami operations, and improved at Brocks Creek as more and higher grade ore has been accessed than planned. Sunrise Dam’s profit contribution declined due to the impact of scheduled lower grade ore and mining at higher waste to ore ratios, in advance of the precommissioning of the mill upgrade. Union Reefs profitability was adversely impacted by reduced access to higher grade ore due to low mining productivity and significant cut-back activity in the Crosscourse pit.
The deterioration in the gold price during the period required a review of recoverable resources at Union Reefs and the mine plan now reflects a more certain outcome and ignores resources outside the Crosscourse and Union North pits. It has been decided to write down the carrying value of Union Reefs by $22.1 million after tax.
The current market environment is emphasising the decline in the value of early stage exploration properties with exploration budgets being substantially curtailed across the industry. The carrying value of all exploration properties has been carefully appraised taking into account actual or anticipated curtailment of activity on some tenements. As a result the carrying value of some gold exploration tenements has been written down by a total of $10.8 million after tax.
Acacia’s Managing Director Michael Folie said, "Operating performance in the first half at Sunrise Dam and Union Reefs was reduced due to scheduling and weather issues, however both operations now have access to higher grade ore and will deliver substantially improved performance in 1999/2000.
The writedowns to carrying values are prudent in the current environment. It is however important to note that the fundamental financial strength of Acacia has not been impaired. The underlying cash generation from our operating mines is strong, our borrowings are modest, our hedge book, which is not reflected on the Balance Sheet is valued at $245 million before tax and we have the drawing capacity under our credit facility for a further $135 million for funding appropriate growth opportunities. Operating performance will be enhanced as a result of a number of recent initiatives which include a reduction by 30% in exploration expenditure outside Boddington/Wandoo and Sunrise Dam, a review of costs in all parts of the business and the restraint of capital spending to critical items. Moves to close the Brocks Creek Gold Mine were announced in January 1999 and the mine is well advanced in its closure plan".

Financial Highlights from Operations for January – June 1999:

• Operating profit after tax/before abnormal items of $12.1 million (1998: $34.4M).
• Earnings per share of 4.8 cents per share basic (1998: 13.7 cents).
• Gold revenues of $131.6 million (1998: $274.0M) from gold sales of 233,512 ounces (1998: 506,238 ounces) at an average price of $563 per ounce (1998: $541 per ounce).
• Cash cost of production of $334 per ounce (1998: $272 per ounce).
• Depreciation and amortisation charges of $18.3 million (1998: $52.0M).
• Total Cost of Sales of $441 per ounce (1998: $390 per ounce).
• Exploration expenditure expensed $3.2 million (1998: $8.5M).
• Income tax expense on profit before abnormal items of $6.9 million (1998: $19.5M).
• Net interest expense of $1.1 million (1998: $2.6M).
• Net cash generated from gold operations of $69.4 million (1998: $120.3M).
• Outlays on mine development, mine properties, other capital and capitalised exploration expenditure were $46.5 million (1998: $76.5M).

Abnormal Items
An abnormal loss for the period totalled $32.9 million after tax (1998: $13.7 million) following a careful appraisal of mining and exploration plans and carrying values as a result of the deterioration in gold price environment.
The Union Reefs mine plan has been refined to exclude resources outside of the Crosscourse and Union North pits resulting in a writedown to the carrying value of Union Reefs by $22.1 million after tax. The carrying value of a number of gold exploration tenements has been written down by an amount totalling $10.8 million after tax.

Corporate
The Company has initiated, and secured the support of its bankers to amend its credit facility which has been reduced to $175 million at 30 June 1999. The facility remains unsecured and the term and pricing of the facility remain unchanged.
Net debt at 30 June 1999 was $26.0 million, comprising loan draw-downs of $40 million reduced by $14.0 million of cash and bullion on hand.
A fully franked dividend of 4 cents per ordinary share was paid on 7 April 1999.
No dividend was declared in the six month transitional reporting period ended 30 June 1999.

Change of Balance Date
Acacia has changed its balance date to 30 June 1999 to harmonise its reporting with that of its Australian gold industry peers, and joint venture partners.

Allied Mining & Processing (28 August 1999)

Allied has announced that it has secured the Australasian distribution rights to products from Perth's Go Medical Industries - who have developed a range of medical equipment.

Caltex Australia (28 August 1999)

Caltex will shed 200 jobs and shift its office operations to Singapore in an effort to cut $50 million from costs after smaller margins cut interim profit 12% to $35.4 million. The interim dividend was cut by 2 cents to 8 cents, fully franked.
A crisis in the Australian refining industry has reached the stage where a massive restructure is necessary - including 2 of Australia's 8 refineries - says Caltex managing director Ian Blackburne.

Grange Resources (28 August 1999)

Grange advises that further to its recent announcement concerning the acquisition of a 30% interest in Greenchip Resources, the shareholders of Greenchip Resources have approved the issue and allotment of shares to Grange and clients of CIBC World Markets Australia of, in aggregate, 100 million shares @ 2 cents/share. The Greenchip shareholders also approved a name change to ECAT Development capital Ltd.

Great Central Mines (28 August 1999)

GCM has blamed a 67% fall in year net profit (to $12.42 million) on a $24.2 million write-down of its investment in the defunct Australian Resources. GCM has declared a final unfranked dividend of 3 cents/share, taking full-year dividend to 6 cents/share.

Ross Mining (28 August 1999)

Ross Mining NL announced today that the Timbarra gold project would be put on care and maintenance from the end of September 1999.The Chief Executive of Ross Mining, Dr Bertus de Graaf said that the Company had taken the decision to preserve shareholder value.

"At the prevailing gold price of approximately A$400/oz, the returns from the mine are inadequate. We have therefore decided to suspend the project and reopen the mine when the price regains A$500/oz levels. We consider this to be a preferable course of action to continuing to mine and depleting Timbarra’s ore reserves at a current low gold price."

For complete details, click here.

Striker Resources (28 August 1999)

Striker says it could be in a position to develop a commercial diamond mine in WA's far north within a year. Striker is currently conducting a $2.3 million pre-feasibility trial mining program (35,000 tonne bulk sampling) at the Ashmore project. Striker has identified 4 diamondiferous kimberlite pipes and a new geophysical anomaly. Drilling at the first 4 pipes has so far yielded 675 diamonds totalling 4.68 carats.

AGL (27 August 1999)

AGL is stepping up its diversification plans to compensate for an expected earnings squeeze after reporting a 12.7% increase in profit for the year to $221.3 million. The final dividend is 24 cents/share, taking the total dividend for the year to 45 cents, up 4 cents on last year.

Ashton Mining (27 August 1999)

Ashton has reported a loss of $19.55 million for the first half of 1999, well down from the previous corresponding period net profit of $6.2 million. The loss was mainly due to an $29.62 million abnormal writedown related to the carrying value of its 35% stake in Aurora Gold. Ashton's core diamond business performed strongly - up from $6.2 milion to $10.1 million. The company declared an incraeased interim fully-franked dividend of 1.5 cents (up from 1 cent).

BHP (27 August 1999)

BHP has indicated that its interests in several operations could be reduced or sold to make the business less complex and more cost-efective.

Central Norseman Gold (27 August 1999)

CNG has posted a steady operating profit after tax of $5.1 million for the 6 months to 30 June (last year $5.2 million). Higher achieved gold prices were offset by reduced sales (production down 8% to 52,589 ounces) and higher production costs - up 13% to A$453/oz. CNG has declared an interim dividend of 1 cent/share.

Hargraves Resources (27 August 1999)

Hargraves has identified deficiencies in South African gold miner Durban Roodepoort Deep's takeover bid of 1 share plus 70 cents for every 7 Hargraves shares. Hargraves will seek talks with DRD before issuing its Part B response.

Herald Resources / MPI (27 August 1999)

Equinox Resources (26 August 1999)

LUMWANA COPPER PROJECT, ZAMBIA

Equinox Resources NL has today announced a joint venture on the Lumwana Copper Project in Zambia. Craig Williams, Equinox’s Managing Director – Corporate says "participation in the Lumwana Project is an exciting opportunity for Equinox". The project is located 220 kms west of the Zambian Copperbelt which hosts some of the world’s largest copper mines. The Lumwana Copper Project includes a world class copper resource in excess of 1 billion tonnes of copper ore, including 520 million tonnes of 1.06% Cu. This resource represents in excess of 5.5 million tonnes of contained copper metal with significant associated cobalt and gold.

Under the joint venture with Phelps Dodge Corporation, Equinox can earn a 50% interest in Lumwana by spending US$5 million over 4 years. The Company then has various options through which it can earn up to a 75% interest by spending up to a further US$35 million over a maximum of 12 years. Mr Williams explains that "this deal is essentially an exploration deal through which Equinox can earn control of a major copper resource by spending money on exploration and pre-feasibility. If the project meets our expectations we can earn a much larger interest by committing funds to feasibility and development, but the critical phase for Equinox is the initial exploration program."

The Lumwana Project, 220 kms west of the Zambian Copperbelt, includes a world class copper resource which totals :

• 1,017 million tonnes of 0.73% Cu (0.2% Cu cutoff); or
• 520 million tonnes of 1.06% Cu (0.6% Cu cutoff)

This represents between 5.5 and 7.4 million tonnes of contained copper metal with significant cobalt, gold and uranium.

Gutnick Resources / Tanami Gold (26 August 1999)

Gutnick Resources will take a $1.2 million shares and options placement (10 million shares @ 10 cents each, with 20 million 20 cent options issued @ 2 cents each) in Tanami Gold, giving it an 11.4% stake, with Mr Gutnick taking over as chairman. Gutnick Resources will have first right of refusal of a 51% interest in any Tanami Gold project area and the right to move to 60% by further funding exploration.
Tanami had been close to clinching a deal with Gold Fields of South Africa but that company decided to concentrate on priorities at home.

MIM (26 August 1999)

MIM has reported an $36.9 million net loss for the year to 30 June. The loss occurred in the first half of the year and for the final 6 months the company had achieved a small profit, mainly due to cost savings - quite an achievement in a period of falling metal prices. There was an $11.7 million abnormal loss, including the write-down of the lead Isasmelt plant at Mt Isa.

New Guinea Gold Corp (26 August 1999)

NGG releases its Consolidated Financial Statements to 30 June.

Pasminco (26 August 1999)

Pasminco has reported an $8.3 million loss for the year to 30 June and will not pay a dividend (last year a 4c final dividend). The loss was mainly due to lower commodity prices.

AGL (25 August 1999)

AGL has warned the Qld Gov't that the proposed $5 billion PNG gas pipeline to gladstone might never eventuate if the privately backed Kogan Creek coal-fired power station is given the go-ahead.

Aurora Gold (25 August 1999)

Aurora has posted a net loss of $15.17 million for the half-year to 30 June, after writing down the value of its Mount Muro gold mine in Indonesia by $5 million and the advanced Toka Tindung project in Sulawesi by $15 million. The writedowns were in response to the political unrest and a medium term price forecast for gold of US$300/oz.

Herald Resources / Troy Resiurces (25 August 1999)

SALE OF SANDSTONE MILL

Herald is pleased to announce that it has reached agreement-in-principle with Troy Resources , whereby Herald will sell its gold treatment plant and associated infrastructure at Sandstone, Western Australia, to Troy for $1.5 million. The deal enables Herald to realise a significant value in a depressed market for an asset where Herald's own reserves are exhausted, while retaining substantial exploration upside on a free-carried basis. Fir details, click here.

Novus Petroleum (25 August 1999)

Novus says the company's new $118 million Cooper Basin acquisition will provide a steady cashflow for Pakistan and Egypt projects.

Precious Metals Australia (25 August 1999)

Stockbroker Hartley Poynton issues a SPECULATIVE BUY recommendation for PMA.

Iluka Resources (24 August 1999)

Iluka, the company formed by the merger last December of Westralian Sands and RGC, has posted a 284% leasp in first-half net profit of $28.7 million, mainly due to a 692% jump in sales to $488.2 million, including contributions from its share of Goldfields, sold for $79 million. Iluka has declared a fully franked interim dividend of 9 cents, up 1 cent on the June 1998 dividend.

Normandy Mining (24 August 1999)

Normandy has posted a 12.6% fall in net earnings in 1998/99 to $103.8 million, but has maintained its final dividend at 3.5 cents/share partly franked. The weaker gold price and higher cash costs (average $329/oz) impacted on the profit. Normandy recorded $60 million in mine closure provisions as abnormals for the Big Bell, Kaltails and Tennant Creek mines; this was partly offset by $43.2 million in abnormal gains from the sale of the Goldfields gas pipeline, the conclusion of the sale of its Millmerran steaming coal resource and redesignation of the hedging gain of the Big Bell mine ($147.7 million).
The next 6 to 12 months would see Normandy produce feasibility studies for 3 new gold projects and a magnesium development. In Greece, the Perama gold project (66.67%) would likely come on stream in about 18 months at 150,000 oz/yr. In Ghana, the Yamfo gold project (currently 100%) is likely to start production in about 2 years at a minimum production rate of 300,000 oz/yr. In WA, a decision to proceed with the redevelopment of the Wandoo gold mine (44% interest) is expected in 6-9 months. A revamped Wandoo would produce about 500,000 oz/yr.

Black Range / Rimfire Pacific Mining (23 August 1999)

Black Range and Rimfire have signed a JV agreement covering 2 exploration areas to the south of the large Syerston lateritic nickel-cobalt deposit in NSW. Black Range will earn a 50% interest by spending $200,000 over 2 years, and may earn an additional 30% by spending another $200,000 over the following 2 years.

Climax Mining (23 August 1999)

Philippine authorities have issued an environmental compliance certificate for the company's Dinkidi gold-copper project. The Dinkidi orebody contains a mining reserve of 1.78 million tonnes @ 2.37 g/t Au and 0.67% Cu. The mine is being designed to produce 142,000 ounces of gold and 13,000 tonnes of copper per year for an initial 9-year mine life. Climax is now negotiating with groups to provide the US$138 million needed to develop the project.

East Coast Minerals / Legend Mining (23 August 1999)

ECM and Legend have commenced shipping silver concentrate from their Elizabeth Hill deposit in WA to South Africa for refining. Mining is continuing underground on 6 levels ranging from 52m to 102m below the surface.

Heron Resources / Centaur Mining & Exploration (23 August 1999)

Heron and Centaur have announced a strategic alliance to expand Centaur's Cawse nickel operation in WA, with Heron agreeing to supply 20% of the ore throughput at the proposed Cawse Stage II plant. Centaur will pay Heron $3.13 million for the toll millin rights to nickel and cobalt ore reserves to be delineated over the next 2 years by Heron.

Jubilee Gold (23 August 1999)

Jubilee has arranged a $52 million financing facility to develop the Cosmos nickel project in WA. $37.7 million would be used for building a concentrator facility and general project development, the remainder being used for working capital and managing existing debt. Cosmos has reserves of 420,000 tonnes @ 7.52% Ni, and Inco of Canada has already signed to purchase 30,000 tonnes of nickel concentrate over the life of the project.

Newmont Mining (23 August 1999)

Newmont Mining of the US announced on Friday that it had acquired put-option contracts giving it the right to sell 2.85 million ounces of gold at US$270/oz over the next 2 years. Newmont said it was looking to offset exposure to further falls in the gold price. This is the first time for 7 years that Newmont has hedged its gold production.

Sipa Resources (23 August 1999)

Sipa has entered into an arrangement with Alfred Eggo (for 17 years a Rio Tinto exploration specialist) and his company El Gaia Holdings to explore for world class deposits. Manager Mike Doepel suggests that the Sipa-Gaia JV will be one of the few nationally active exploration groups in Australia during the next 4-5 years.

BHP (21 August 1999)

BHP has completed the previously announced sale of its Moura coal mine in Qld for $89 million. BHP has sold its 80% stake to Peabody Resources, and Mitsui Coal Holdings.

Iron ore shipments surged in July (to 4.746 million tonnes0 as BHP experienced a massive jump in market demand; production fell15% to 4.12 million tonnes.
Coal and steel output also rose in July, although all other businesses reported lower production.

Gilt-Edged Mining / Centaur Nickel (21 August 1999)

GEM has signed an agreement with Centaur where Centaur may acquire an interest of up to 80% in the nickel/cobalt laterite potential at GEM's Siberia and Wongi Hill projects in WA by sole funding exploration expenditure of at least $1.3 million and by making staged cash payments totalling $4 million to GEM over 5 years. GEM's 20% interest is free carried until a decision to mine or can be converted to a 2% net smelter return royalty.

Gold (21 August 1999)

The global demand for gold continued to grow in the second quarter of 1999 - up 16%, mainly due to a 13% increase in demand for jewellery and a 32% jump in investment over the same period of last year.

Newcrest Mining (21 August 1999)

Newcrest advises that there has been some local unrest at villages approx. 30km from the Gosowong Mine. None of this unrest has involved the minesite in any way.As a precaution, production at the mine has been temporarily suspended to enable the Indonesian workforce to return to their homes.

Tap Oil (21 August 1999)

Tap has posted a 56% fall in net profit to $1.83 milion in 1998/99, mainly due to exploration expenditure write-offs and a 28% fall in sales revenue during a year marked by record low oil prices.

Alcaston Mining (20 August 1999)

Alcaston is investing in Ezishop.net, an electronic retailing business. Alcaston has signed a memorandum of understanding under which it has the option to take an initial 15% stake for $500,000. Alcaston will also issue 500,000 shares and options to Ezishop, and 250,000 shares and options to a third party as an "introduction fee". Alcaston has first right of refusal to move to 49%.

Alcaston is also raising $2 million in seed capital in Sweden, preparatory to listing its subsidiary (Alcaston Diamond Exploration AB of which it has a 50% equity) on the Stockholm Stock Exchange.

ERA (20 August 1999)

ERA has posted an 18% fall in annual net profit of $21.89 million, but remains cautiously optimistic. A fully-franked 11 cents/share final dividend was declared.

Straits Resources (20 August 1999)

Sydney, Australia: Straits Resources (ASX Code SRL) has announced the appointment of Mr. Milan Jerkovic to the Board as Director of Operations.

Straits Chief Executive Officer, Mr. Brian Rear said, "Milan’s elevation to the Board recognises the need to strengthen executive representation on the Board in line with and at a time of significant expansion and growth for Straits. He has been closely involved with the Company’s successful development and subsequent operation of the Girilambone Copper Mine and the Sebuku Coal Mine in Indonesia." For details, click here.

BHP / Platsearch / Homestake (19 August 1999)

Highlands Pacific (19 August 1999)

Minotaur Gold(19 August 1999)

The alliance applies only to base metals discoveries and excludes any new gold discoveries.

In a separate agreement to the alliance, Billiton has also entered an immediate joint venture with Minotaur to spend up to $1.7 million to earn a 70% stake in Minotaur’s Mutooroo/Thackaringa property, straddling the South Australia/New South Wales border. The tenements cover about 950 square kilometres and host Broken Hill-style geology. The ground is considered prospective for lead/zinc sulphide deposits and eminently suited to Billiton’s electromagnetic interpretation technique. For details, click here.

Montague Gold(19 August 1999)

De COURCY PROJECT - ASHBURTON REGION W.A.

Airborne Geophysics Report Upgrades Gold Potential At De Courcy

An encouraging report has been received from Southern Geoscience Consultants Pty Ltd ("SGC") concerning interpretation of recently flown aeromagnetic and radiometric data for Montague's De Courcy Project in the Ashburton Region of W.A.

In the report, thirteen priority areas with potential for gold mineralisation are identified from a suite of interpreted target zones.

These results, together with Montague's geological and geochemical database provide an excellent focus for the next phase of exploration. Field work is underway within target areas, many of which have not been explored in detail previously. The programme includes infil stream sediment sampling, with followup soil gridding and geochemical RAB drilling.

TICK HILL JOINT VENTURE, QLD. (MIM, Montague earning up to 70% interest)

Montague to Commence RC Drilling at Tick Hill

RC percussion drilling of "Tick Hill style" gold anomalies is planned to commence 1 September 1999. Coincident gold anomalies in prospective structural sites have been generated at Top Tank and The Gap. Further sampling at the High Noon prospect (NE of Top Tank) is in progress to develop drill targets in similar structural settings to Top Tank.

Copper-gold anomalies in prospective structural intersections at the Monastery Creek prospect will also be drilled.

Approximately 1,500m of RC drilling is planned for the initial testing of these anomalies. Further detailed soil sampling is also in progress to define prospective targets at Monastery North and Maiden Tank West.

For details, click here.

Novus Petroleum (19 August 1999)

Oakdale (19 August 1999)

PNG Gas Project (19 August 1999)

Woodside Petroleum (19 August 1999)

Beaconsfield Gold (18 August 1999)

Monadelphous (18 August 1999)

Portman Mining (18 August 1999)

Simsmetal (18 August 1999)

Texaco (18 August 1999)

United Energy (18 August 1999)

Anaconda Nickel (17 August 1999)

BeMaX Resources (17 August 1999)

BHP (17 August 1999)

Comalco (17 August 1999)

Cultus Pacific (17 August 1999)

Gympie Gold (17 August 1999)

Normandy Mt. Leyshon (17 August 1999)

WMC / Cobalt Price (17 August 1999)

Dragon Mining / Genesis Mining (16 August 1999)

Iluka Resources (16 August 1999)

Ivanhoe Mines (16 August 1999)

Kimberley Diamond Co / Argyle Diamond Mines(16 August 1999)

LionOre Mining (16 August 1999)

Sydney Gas Co (16 August 1999)

Duketon Goldfields (14 August 1999)

Coal Miners Strike (14 August 1999)

Lakes Oil (14 August 1999)

Normandy North Flinders (14 August 1999)

Stock Market (14 August 1999)

MIM (13 August 1999)

The Brisbane Supreme Court last night granted an injunction sought by coalmining companies against a 24-hour strike by coalminers, which was due to start at midnight. Coalminers across Australia were due to strike, angry that the Federal Government had failed to bail out the financially stranded workers at the Oakdale mine in NSW.

Orogen Minerals (13 August 1999)

Orogen is optimistic about its earnings prospects for the second half of the financial year after posting a stronger interim net profit of $48.05 million (up from $16.5 million). The interim result was boosted by an abnormal credit of $23.27 million relating to foreign currency gains due to the depreciation of the PNG kina. Orogen is paying an interim dividend of 2.5 cents, down from 3.41 cents. The reduced dividend is to conserve capital ahead of a planned large-scale investment program.

PNG Gas Pipeline (13 August 1999)

The PNG gas pipeline project took another step forward yesterday following Qld government-owned Ergon Energy signing an agreement to buy up to 50 petajoules of gas/year.

Ross Mining (13 August 1999)

A number of Solomon Islands police and Guadalcanal rebels were injured in a confrontation on the Gold Ridge Mining Lease. The incident appears to be the latest in a series of conflicts between police and the rebels, who are seeking the expulsion of all Malaitan people from Guadalcanal. Dr de Graaf said that while there had been no serious threats against the Gold Ridge Mine, nor any of its employees, the Government had stationed police on the Mining Lease and at various other areas around Guadalcanal to ensure that law and order was maintained. Dr de Graaf said that far from being a target for the rebels, the Gold Ridge Mine was in the unusual position of having the support of all the parties in the conflict. For more information, click here.

Sydney Gas Co / AGL (13 August 1999)

Sydney Gas Co has moved to become the first local supplier to the NSW market after signing an agreement with AGL. The deal is between Sydney Gas Co subsidiary Sydney Gas Operations Pty Ltd and AGL entity AGL Wholesale Gas Ltd, which will buy gas for a period of 10 years from SGC's initial 25 wells at the Johndilo coal bed methane project near Camden.

Algroup (12 August 1999)

Algroup is to merge with Canada's Alcan Aluminium Ltd and Pechiney SA of France to form the world's largest aluminium maker.

Anvil Mining (12 August 1999)

African gold and copper explorer Anvil has finalised the purchase of Ghana's Bogoso gold mine. Anvil and canadian JV partner Golden Star Resources have renegotiated the terms of the deal with the fall of the gold price.

BHP (12 August 1999)

BHP has admitted that with hindsight and environmental studies now available, it should not have become involved in the Ok Tedi copper-gold mine in PNG. Of the 4 options open to BHP and its partners, none offered a clear solution. BHP admits the easiest solution would be to close the operation, but socially and economically that option would devastate a society dependent upon the mine.

International Monetary Fund / Gold Sales (12 August 1999)

IMF head Michel Camdessus says the fund is reconsidering its controversial plan to sell 10% of its massive gold reserves to aid the Third World.

JB Were & Son / Macquarie Equities (12 August 1999)

The 2 major broking houses have signed a heads of agreement to form an independent joint equity clearing business in 2000, saving millions of dollars in technology and staff.

Union Mining (12 August 1999)

Union Mining NL announces that Identikey, (20% owned by Union), has won the Best of Show Award for the Most Outstanding Infrastructure Product, at Internet World in Sydney. Identikey was recognised by industry experts as the most attractive security solution for e-commerce and e-business. For more information, click here.

Impress Technologies / Alliance Gold Mines (11 August 1999)

Impress Technologies Limited (ex Merritt Mining) has reduced its shareholding in Alliance Gold Mines NL to 38.9 million shares which is 17.9%. For additional information, click here.

Pima Mining (11 August 1999)

Pima has entered into an agreement to buy magnesium metal manufacture technology from Dow Chemical Co., allowing Pima to forego the pilot plant stage process for its proposed magnesium metal project in SA.

Precious Metals Australia (11 August 1999)

The Windimurra Vanadium project is now at an exciting point on site with the visual impact of construction works including structural, mechanical, tankage and kiln shell erection works rapidly changing the profile of the plant works. Planning and scheduling of commissioning activities for October is now underway.
Key points are as follows

• Engineering and design team demobilised
• Senior project staff now recruited
• Project commitments now exceed $92m
• Electrical and Pipework contractors commenced
• Concrete works completed
• 225,000 hours worked without a lost time accident
• All kiln shell components on site
• Structural Mechanical work now well advanced

For additional information, click here.

WMC (11 August 1999)

WMC financial results for six months ended 30 June 1999

The Directors of WMC Limited announce the following profit attributable to
shareholders for the six months ended 30 June 1999.

	6 months to 30 June 1999 $m	6 months to 31 Dec 1998 $m	6 months to 30 June 1998 $m
Equity profit after tax and abnormals	18.4	34.9	134.3
Equity profit after tax but before abnormals	21.1	22.4	144.2

The interim dividend of 3 cents a share (7 cents in June half 1998 and 3 cents in December half 1998) is fully franked at 36 percent, and payable on 22 October 1999.
The main factors that affected the result were lower nickel production and poor prices for nickel, copper (which reached a 67-year low during the half), alumina and gold.
Mr Morgan said that:
*Olympic Dam commissioning is progressing exceptionally well. In this half the operation will reach its nameplate capacity of 200,000 tonnes a year of refined copper;
* The Queensland Fertilizer project was 87 percent complete at the end of July and is on time and budget for commissioning in the December quarter this year;
* Alcoa World Alumina has completed the expansion of its large low cost Wagerup Alumina Refinery. A new causticisation process will add 500,000 tonnes at low unit capital cost capacity by 2001;
* WMC's integrated nickel business has developed a low-cost and flexible operating structure.

"WMC's major commodity markets in alumina, copper, and nickel are in the early stages of price recovery," said Mr Morgan. "There are encouraging signs that underlying business conditions are improving. Shareholder value will increase over the next few years in line with better margins from cost reduction, increased revenue from our new projects, and higher prices for our products."

Anaconda Nickel / Black Range Minerals (10 August 1999)

Anaconda has agreed to take an interest in the Tottenham nickel-cobalt deposit in the Lachlan Fold Belt of NSW. Tottenhgam lies 85km north of the advanced Syerston project which Black Range says could become the world's lowest cost laterite nickel-cobalt producer.

Cue Energy / Omega Oil (10 August 1999)

Cue is considering making a takeover for Omega - a 17 cents/share offer, in partnership with Alpha Oil and Natural Gas Pty Ltd. Cue aims to take 51% of Omega (it already has 3.6%) and expects Alpha to acquire any excess acceptances.

Giants Reef Mining (10 August 1999)

HIGHLIGHTS - JUNE QUARTERLY REPORT

Reefton Mining (10 August 1999)

Reefton has entered a conditional agreement to acquire 5% of on-line gambler Emaris Trading.

Ross Mining (10 August 1999)

The Chief Executive of Ross Mining NL, Dr Bertus de Graaf reconfirmed today that the Gold Ridge Mine remains fully operational. The Commonwealth mediator, Major General Sitivani Rabuka, has returned to the Solomon Islands to further mediate and assist in resolving tensions between the peoples of Guadalcanal and Malaita.

Dr de Graaf reaffirmed that the Gold Ridge Mine was not a factor in the tensions as the conflict is ethnically based and he noted that contrary to some reports the mine operates at full capacity. For additional information, click here.

Dominion Mining (9 August 1999)

Dominion has reported encouraging intersections from the Homasi concession in Ghana - including 14m @ 4.19 g/t Au, 16m @ 3.76 g/t and 23m @ 6.22 g/t.
At the adjacent Akrokeri prospect the drilling results included 30m @ 2.09 g/t Au and 25m @ 1.62 g/t.

Gold production (9 August 1999)

Australian gold production fell by 4% in 1998/99 to 305.4 tonnes, and was in danger of falling further unless exploration activity increased, according to Surbiton Associates. The Normandy Mining Super Pit in Kalgoorlie was the top producer at 585,918 ounces, followed by the Delta/Placer Granny Smith mine at 518,115 ounces. During the June quarter the Granny Smith mine produced more than the Super Pit at a cash cost of just $95/ounce.

Heron Resources (9 August 1999)

Heron has reported that new ore discoveries at the Goongarrie prospect had boosted in-ground metal value to $14 billion at the Kalpini and satellit nickel projects in WA. The inferred resource (with 0.5% cut-off) was now 174 million tonnes @ 0.82% Ni and 0.05% Co.

Striker Resources (9 August 1999)

Bulk sample residues from the Lower Bulgurri project in WA had produced 112 microdiamonds weighing a total 5.53 carats. The stones were similar to diamonds recovered from drill and pit samples.

Beaconsfield Gold (6 August 1999)

For the latest photos from the Beaconsfield Mine, click here.

Beaconsfield Gold (6 August 1999)

Beaconsfield Gold has today raised $1.207 million from the placement of 1.15 million shares at $1.05 per share to Drysdale Metals Pty. Limited. The shares issued represent 1.8% of the total number of shares previously on issue. The money has been raised to assist with working capital requirements in the run up to full gold production over the coming months. For additional information, click here.

Bendigo Mining (6 August 1999)

Highlights - June Quarter

• Decline advanced to 962 metres

Milestones for third quarter

• Decline advance to 1400 metres

Project Milestones

• Second quarter, 2000
  • Decline 2.5 km long
  • Commencement of underground exploration drilling for target ribbons

• First quarter, 2001
  • Decline at target depth
  • Bulk sampling of New Bendigo ribbons

Durban Roodepoort Deep (6 August 1999)

The low gold price has forced South African miner DRD to close 2 more of its higher cost underground operations, affecting about 250 miners.

Exxon / Mobil (6 August 1999)

The Australian Competition and Consumer Commission has cleared the way for the merger of the Australian interests of Mobil and Exxon, announcing it will not oppose the move.

Helix Resources (6 August 1999)

Highlights - June Quarter

• Basemetals mineralisation identified in drillcore from the Middleback Ranges in South Australia
• New copper/gold mineralisation discovered at Mt Christie Project in the Western Gawler Craton
• New drilling targets for gold defined at the Biscay Project in the Kimberley region of WA

Placer Niugini (6 August 1999)

PNG's mining industry will continue to suffer if companies do not remain at the edge of especially exploration, concervation and national political issues, says Placer Niugini NL.

Pt Aneka Tambang (6 August 1999)

Indonesian mining company Pt Aneka will list on the ASX on Monday The company has JV's with BHP, Newcrest, WMC and Ashton Mining.

Roc Oil (6 August 1999)

Roc Oil listed on the ASX yesterday and finished at $2.02, slightly above the $2 issue price.

Shell Australia (6 August 1999)

Shell said reports that China was keen to secure a deal for the supply of LNG were encouraging but no definitive contracts were expected befpre early next year.

BP / Caltex (5 August 1999)

BP Amoco and Caltex Australia say they have signed a memorandum of understanding on establishing a JV operation for the blending, packaging and warehousing of lubricants in Australia - enabling them to compete more effectively with imports.

Leo Shield Exploration (5 August 1999)

Leo Shield has subscribed for 1,426,000 shares and attaching options in e-commerce company Plexus Management Systems Pty Ltd ("Plexus") for $570,000 and has agreed to subscribe $1,000,000 towards a $6,000,000 capital raising planned for September. Plexus, which is in the process of changing its name to Plexus International Limited, is a fast growing business founded in 1995 as a loss control service focussed on the insurance industry.

Further to the Company's announcement of 4 June 1999 and the approval of the proposed placement by shareholders on 29 July 1999, the Company proposes to issue 20,000,000 fully paid ordinary shares at an issue price of 12 cents per share to European fund managers and to clients of member organisations of ASX. In addition, the Company proposes to issue 20,000,000 attaching options exercisable at 20 cents on or before 30 September 2001 at an issue price of 2 cents per option.

For details, click here.

Legal battles over a $615 million cost blowout at the Alumbrera copper-gold mine (MIM 50%) in Argentina have been settled with a payout from US engineering firm Fluor Daniel.

Ross releases its comprehensive Annual Environment Report - 1999. For complete details, click here.

SMC Resources (5 August 1999)

HIGHLIGHTS - JUNE QUARTERLY REPORT

Ticor (5 August 1999)

Heavy minerals, coal and chemicals producer Ticor has reported a 6.3% fall in interim net profit for 1999 of $15.2 million, but is confident of a 40% growth in earnings in calendar 2000 - mainly due to a major expansion of its core TiWest heavy minerals operation in WA. Ticor is paying an interim dividend of 2 cents.

Werrie Gold (5 August 1999)

Highlights - June Quarter

Anaconda Nickel (4 August 1999)

Anaconda's share price continued to rise, buoyed by news that Anglo would take up to a 23% stake and that ratings agency Moody's Investors Service confirmed Anaconda's B1 rating and raised its outlook rating from "negative" to "stable".

Austral Coal (4 August 1999)

A subsidiary of Cape Bouvard Investments (the Sarich family's investment vehicle) has acquired a 12.7% stake in Austral Coal whose main asset is the Tahmoor colliery in NSW.

Grenfell Resources (4 August 1999)

HIGHLIGHTS - JUNE QUARTERLY REPORT

Tarcoola Goldfield

• New, very high grade gold zone (named "Daly's Dream") located in the Tarcoola goldfield. Results to hand indicate a 4m interval yielding at least 2m averaging 147g/t gold from 29m downhole.

Regional Copper-Gold

Regional Nickel

• Reconnaissance sampling in the newly acquired and accessible areas in the Yellabinna Reserve has returned anomalous Nickel values in areas of interpreted Archaean greenstone belts.

RAJASTHAN - INDIA - BASEMETAL AND GOLD EXPLORATION -
(GRENFELL INTEREST - 75%)

Icon Oil (4 August 1999)

JUNE QUARTERLY REPORT - EXPLORATION ACTIVITIES

Australia

Overseas

Louisiana USA

Mineral Deposits (4 August 1999)

HIGHLIGHTS - June QUARTERLY REPORT

• Significantly improved operating performance at Hawks Nest mineral sands plant followed cessation of dredging activities at the Viney Creek site on 8 April 1999. Operating costs reduced by around 60%, with only 40% less production for the June quarter, when compared with the March quarter.