Australian Mining & Exploration Companies-News

Company News

January 2000

Anvil Mining (31 January 2000)

HIGHLIGHTS - DECEMBER QUARTER:

Continued discussions towards a peace settlement in the Democratic Republic of Congo (DRC) have the promise to bring an end to the current political and military unrest in the country.
Anvil continues to pursue internal studies of a lower cost development strategy for the Dikulushi Project and to explore alternative scenarios for the project funding.
The previously announced placement to raise $1,200,000 was finalised.
Anvil commenced investigating opportunities to acquire late stage development or producing assets elsewhere in Africa.

Australian Gas Light Co / Australian Pipeline Trust (31 January 2000)

According to sponsor AGL, marketing will begin shortly to launch APT - which will own a major part of Australia's gas pipeline network. AGL will have 30% of the units in the Trust.

Duketon Goldfields (31 January 2000)

SUMMARY - DECEMBER QUARTER:

The manager of the Duketon Belt JV in WA, Johnson's Well Mining NL, has submitted an exploration budget for approval by the partners, which if approved will continue to focus on the best exploration targets in the Joint venture area. The proposed budget includes the following:

- A high-resolution aeromagnetic survey is proposed over the Palliards-Old Peculiar trend. The survey will be flown at 25m-line spacing and 25m sensor height. Subsequent in house data processing will ensure seamless joins at boundaries with the Rosemont survey

- The geology of Reichelt's and Russell's Finds will be modeled using Vulcan software to develop a better understanding of the shoots controlling high-grade gold mineralisation.

- A tightly controlled RC/DC drilling program is scheduled for Reichelt's and Russell's to rest the modeling of the mineralisation.

- Programs for advancing other prospects along the Palliards-Dogbolter trend will be developed as the understanding of the mineralisation improves.

For details of the December Quarterly Report, click here.

East Coast Minerals / Legend Mining (31 January 2000)

East Coast has reported record silver production of 187,721 ounces in the December quarter from the recently developed Elizabeth Hill silver project in WA.
The updated resource is now 4.05 million ounces of silver to a depth of 102m.

Fraser Range (31 January 2000)

Fraser Range (quarry operator) is considering scaling down operations - this process would continue unless a larger stone operation was acquired or the company changed its focus.

Hampton Hill Mining (31 January 2000)

Drilling at the Rayjax prospect at Northlander, near Kalgoorlie in WA, had produced encouraging intersections including 11m @ 3.25 g/t Au at a depth of 408m down hole.

Majestic Resources (31 January 2000)

HIGHLIGHTS - DECEMBER QUARTER:
Pniel Estate

A total of 17.0 million tonnes of potential diamondiferous gravels have been outlined to date on the Pniel Estate, which represents a 90% increase from 9.0 million tonnes reported at 30 September 1999.
Mining operations commenced on 3 December 1999 in the Droogveld Extension Area which will continue to 31 March 2000 until approximately 50,000 tonnes of potential diamondiferous gravels have been mined and delivered to the bulk sampling plant.
An 800 tonne per day bulk sampling plant was commissioned by 23 December 1999 and is ready for full operation to test the Droogveld Extension gravel system for diamonds.
A second 400 tonne per day bulk sampling plant for testing the upper central "Rooikoppie" gravels is due to commence in February 2000 to treat a minimum of 30,000 tonnes.

Metex Resources (31 January 2000)

HIGHLIGHTS - DECEMBER QUARTER:
Corporate

Significant new corporate initiative launched in the Telfer region of Western Australia. Metex has entered into an option/purchase agreement to acquire the joint interests of Gindalbie Gold NL and Croesus Mining NL in almost 6,000km2 of tenements at Telfer. Included within the package, hosting the exciting Magnum discovery, is the Anketell-Minyarie area where drilling recently has returned results including 15m @ 14g/t gold in AKD 009. Significant copper mineralisation has also been returned, including 4.4% Cu over 8m being returned in AKD 005.
This initiative, launched in association with Resource Finance Corporation Ltd (RFC), a leading Australian investment banker to the mining industry, is expected to herald the flow of fresh exploration capital back into the resources industry.
Through this exciting and innovative corporate approach it is anticipated that Metex shareholders will accrue significant value adding interests (either direct or indirect) in exciting, large-scale additional exploration projects throughout Australia.

Laverton Exploration Joint Venture (Metex - Delta Gold NL)

Reconnaissance drilling at Red Flag returns significant results in 13 of the 14 RAB drillholes completed, including 7m @ 3.16g/t in RFB165. Prospective untested stratigraphy delineated over a 7km strikelength.

General

Concludes placement raising a gross $900,000 upon the issue of 10,000,000 Ordinary Shares to clients of Hartley Poynton Limited.
Retains approximately $2.2 million in cash at the end of the December Quarter.

Optima Energy (31 January 2000)

A potential field of at least 7 bidders would be contending the next stage of South Australia's power privatisation process - Optima Energy's 2 gas-fired power stations near Adelaide, Torrens Island A and B. The assets are expected to be leased for A$300 million.

Enron, the world's largest energy trader, is interested in acquiring Synergen Energy - 4 small gas-fired power stations used for peak demand periods - price about A$100 million.

Pilbara Mines (31 January 2000)

Pilbara's shares closed up 5 cents to 25 cents following a decision that development of its Teutonic Bore polymetallic project may be only 6 months away. Pilbara has appointed Minproc to undertake a pre-feasibility study to examine the economic viability of recovering zinc, copper, gold and silver in surface resources.

Friday 28th January 2000 (Close of Business)

All Ords 3092.1 +8.7
Dow Jones 10,738.87 -289.15

All Resources 1303.4 -12.4 S&P 500 1360.16 -38.40

All Mining 693.9 -8.5 Nasdaq 3887.07 -152.49

All Gold 829.4 +2.4 FTSE 100 6375.60 -65.40

Energy 1363.4 +6.4 Nikkei 19,434.7 +225.0

All Industrials 5367.5 +27.7 Gold - spot US$282.80 -4.00

A$ = US63.21c -2.29 Silver - spot US$5.25 -0.08

A$ = 67.67yen -0.99 Platinum - spot US$471.00 +12.00

A$ = 0.648Euro -0.015 Bridge CRB Index 210.72 -0.86

US 30-Year Bond 6.431% -0.094 Crude Oil (NYMEX) US$27.22 -0.10

Live Quotes & Charts - Australia

24 Hour Spot Gold Price

Aurora Gold (29 January 2000)

DECEMBER QUARTER - SUMMARY

MT. MURO – KALIMANTAN

Production of 45,926 gold equivalent ounces at a cash operating cost of US$245 per gold ounce sold
Illegal mining and land rights activities continue to intermittently constrain mining operations.

TOKA TINDUNG DEVELOPMENT PROJECT – NORTH SULAWESI

A detailed review of the Toka Tindung deposit has increased resource to 766,000 oz AuEq from 686,000 oz AuEq

MOROBE GOLD PROJECT – PAPUA NEW GUINEA

Following the successful completion of the pre-feasibility study, a Bankable Feasibility aimed at enhancing resources and confirming the viability of the Project will be undertaken during 2000

AUSTRALIA – YILGARN

The recently completed RC drilling programme of 27 holes at Lake Carey has returned encouraging intercepts. Further aircore and diamond drilling will be undertaken.

BHP (29 January 2000)

BHP will spend $192 million developing the Typhoon oil and gas field in the Gulf of Mexico. Chevron is BHP's 50% partner.

Croesus Mining (29 January 2000)

Croesus Mining NL has reviewed the terms of the proposed takeover bid by Goldfields Kalgoorlie Limited for Gilt-Edged Mining NL announced today.
Croesus believes that its Cash Alternative and Share Alternative offers provide material benefits to Gilt-Edged shareholders that will not be delivered by the Goldfields cash offer. These benefits include:

1. Continued Exposure to East Kundana

The Goldfields offer does not provide Gilt-Edged shareholders with any opportunity to participate in the development of the East Kundana project. Shareholders who accept the Goldfields offer will not be able to share in the potential upside from successful project development and any further exploration success.

Croesus’s offer provides the opportunity for Gilt-Edged shareholders to maintain exposure to East Kundana through Croesus shares.

2. Tax Benefit of Accepting the Croesus Share Alternative

If Croesus is successful in acquiring more than 80% of Gilt-Edged shares, rollover relief will apply and capital gains tax will be deferred for those shareholders accepting the Share Alternative until they subsequently dispose of their Croesus shares.

Gilt-Edged shareholders accepting the Goldfields cash offer will have to pay income tax on the difference between the 42 cents cash consideration and their relevant cost price. Corporate shareholders will be taxed at the corporate rate.

The Goldfields Cash Offer may have material tax implications for Gilt-Edged Shareholders.

Croesus has not yet had an opportunity to discuss the terms of its increased offer or the Goldfields offer with major shareholders of Gilt-Edged. Obviously, the desire of these major shareholders to retain exposure to the East Kundana project will determine whether the Croesus offer will be successful.

Energy Resources of Australia (29 January 2000)

ERA has announced a 257% jump in net profit of $19.2 million for the 6 months to 31 December - boosted by an abnormal gain of $12.3 million from tax changes. ERA is paying an interim dividend of 10 cents/share, fully franked at 36% and paid on 28 February.

Exco Resources (29 January 2000)

Qu a rt e rl y Re p o rt
Mt Margaret Project, Mt Isa district, Queensland (Exco/BHP Strategic Alliance)
Summary
During the quarter, Exco announced higher grade copper mineralisation at its E1-North discovery at Mt Margaret, 8km east of the Ernest Henry copper-gold mine in Queensland.
Copper-gold mineralisation of a style similar to that at Ernest Henry has been discovered as a series of sub-parallel bodies each with strike lengths up to 200 metres, varying widths between 10 and 150 metres and a maximum drilling depth of 200 metres.
Geological interpretation is in progress, however it is anticipated that the potential E1-North resource to a depth of 200 metres will be in the range of 5-10 million tonnes grading between 1.0-1.5% copper with minor gold credits using a cut-off grade of 0.5% copper.
When combined with the E1-South minieral resource as defined by the previous operator the total of the two deposits is anticipated to be in the range 15-20 million tonnes grading between 1.0-1.2% copper with minor gold credits using a cut-off grade of 0.5% copper.
In gold equivalent terms this approximates a gold resource of between 1.0-1.6 million ounces using a copper price of US$0.85 and a gold price of US$285.
Mineral resource estimates for both deposits are in progress and a scoping study to assess the economic potential will be commenced after completion of the mineral resource estimates.
The potential of the remainder of the Mt Margaret tenement for additional copper-gold discoveries is considered to be very high. These will be assessed concurrently with any further drilling required at the E1-North and E1-South deposits.

Golden Cross Resources (29 January 2000)

Highlights - December Quarterly Report

At Kempfield the fifth programme of RC drilling produced the best zinc-lead intersection to date at the McCarron Zone - 14m of 7.31% zinc, 3.58% lead and 100g/t silver, including 2m of 14.1% zinc, 7.38% lead and 182g/t silver. A sixth programme is underway, aimed at further testing the McCarron Zone sulphide mineralisation at depth.

At Kempfield resource calculations indicate a large precious and base metal sulphide system containing an inferred resource containing 39.1 million ounces of silver and 3.7 million tonnes of barite, with indications of significant grades of zinc and lead at depth.

At the Merolia prospect on GCR's 100%-owned Laverton project, the Granny Smith JV reported high grade gold intersections of 6m at 17.59 g/t and 2m at 7.54 g/t from the first RC drilling programme of six holes.

At West Wyalong, Newcrest is presently conducting follow-up drilling of the porphyry-style copper-gold mineralisation previously intersected in the Narragudgil JV area. GCR now holds 100% of the West Wyalong project, subject to a 2.5% nsr royalty to Lac Minerals, a subsidiary of American Barrick Corporation.

WMC Resources Ltd (WMC) farmed into GCR's 100%-owned platinum group metals, gold and base metals Broken Hill project. WMC may earn a 70% interest by completing a bankable feasibility study by 30 June 2004.

CORPORATE

GCR entered into an agreement to purchase the 5% net profits interest (npi) in the Kempfield Project held by Metallic Resources Pty Ltd for one million GCR shares. GCR previously had an option to purchase the 5% npi for $6 million. The purchase increases the potential for GCR to attract a major mining company or financier to the project.
GCR plans to seek shareholder approval to change its status from a no liability to a limited liability company.

Highlands Pacific (29 January 2000)

HIGHLIGHTS - DECEMBER QUARTER

Ramu Project
(HIG 68.5% interest)

Joint Venture Structure

The Highlands Pacific Group purchased Eastern Pacific Mines Limited's 10% interest in the Ramu Nickel Project. Ministerial approval for the sale was received in January.
Orogen Minerals Limited (OML) has agreed to purchase Nord Australex Nominees (PNG) Limited's 31.5% interest. Ministerial approval is expected during the first quarter 2000.
Following ministerial approval of OML's purchase, the equity holding in the Ramu Nickel Project (Project) will be:

Permitting

The Mining Development Contract (MDC) is with the new Minister for Mining, Sir Michael Somare, for submission to the National Economic Council (NEC).
The Office for Environment and Conservation has prepared the draft environmental permit.
The Special Mining Lease will be issued when the NEC approves the MDC.

Land Owner Agreements

The Memorandum of Agreement between stakeholders was agreed and initialed. It will be submitted to the NEC for approval.
The Compensation Agreement with the landowners has been finalised, signed and registered.

Engineering

Kvaerner/Balderstone Hornibrook in joint venture have been appointed to undertake the Front End Engineering Design (FEED) phase of the Project.
Work to date has confirmed the design concepts and process flow sheets used in the Feasibility Study prepared by Fluor Daniel and HA Simons.

Kainantu Joint Venture
(HIG 100%, NM&M earning 50%)

Irumafimpa Structure

Diamond drilling confirms that high grade gold mineralisation within epithermal quartz gold sulphide veins occurs over a strike length of 1,100 metres (m).
Best diamond drilling results include 2.0 m at 200 g/t gold, 8.0 m at 18.7 g/t gold and 8.5 m at 9.4 g/t gold.
An inferred resource of 1.84 million tonnes at 30.1 g/t gold for 1.78 million ounces of contained gold has been estimated.
Resource drillout to improve resource status now under consideration.

Maniape / Arokompa Structures

Scout drillholes intersect lower grade gold - carbonate - base metals mineralisation.

Horizon Energy Investment (29 January 2000)

More than $800 million was wiped off the value of Victoria's Loy Yang A power station yesterday through the poor share market debut of its 25% shareholder Horizon Energy.

Kingstream Steel (29 January 2000)

Kingstream has struck a deal it believes will start construction of its $1.6 billion Mid-West Iron & Steel project in WA.
Kingstream has engaged SMS Demang and Ferrostaal (both arms of German group MAN) to undertake the engineering supply and construction of the 2.6 million tonnes/year steel slab plant. Commissioning is scheduled for late 2003.

Michelago Limited (29 January 2000)

QUARTERLY REPORT TO 31 DECEMBER 1999 - HIGHLIGHTS

Two technology purchases announced in October and November 1999 have been completed.
Inventory Management Systems Pty Limited, a wholly owned subsidiary, will manage, market and sell the STOCK*MAN inventory management system.
Michelago holds a 50% interest in E4fax Limited. E4fax software allows the delivery of faxes using Internet Protocol.
Shareholders have approved the change of name and status of the Company from Michelago Resources NL to Michelago Limited.
A total of eight million shares have been placed to raise a total of $648,000. The Company now has on issue 102,397,506 shares and 642,000 staff options.
Mr Peter Davison has been appointed to the Board of Directors as an executive director responsible for the Company's technology investments.

Minotaur Gold (28 January 2000)

DECEMBER QUARTERLY REPORT - HIGHLIGHTS
1. RESULTS FROM EXPLORATION NEAR BROKEN HILL

Geological mapping and sampling has outlined a corridor of Broken Hill lode rock (iron-manganese rich quartz-garnet and quartz-gahnite horizons) over an area of approximately 3 000 x 500 metres within the Mutooroo Joint Venture (Billiton earning). Individual lode rock bands reach 45 metres thickness. Grab samples returned up to 15.8% zinc (gahnite dominated), 6.3% lead and 31g/t silver.

The corridor also contains electromagnetic features suggestive of a conductor at about 250 metres below surface. An RC/diamond drill program is planned for the next Quarter

2. HEAVY MINERAL DRILL RESULTS

Exploration drilling for mineral sands in Victoria confirmed a +20 kilometre long strand line with associated heavy minerals within Minotaur's Casterton tenement.

Using a 2% HM cut off, the current drilling outlined zones of heavy minerals typically 150 to 200 metres wide and 5 to 10 metres thick. The best intercept was 8 metres at 37.9% HM.

3. ADDITIONAL BILLITON JOINT VENTURE

A second joint venture has been signed with Billiton involving two tenements, one held by Minotaur and the other by Kelaray Pty Ltd. In total, Billiton may fund exploration to $900 000 prior to Minotaur committing funds or diluting to a carried interest to production.

The tenements are considered prospective for copper-gold mineralisation similar to that at Olympic Dam.

Minotaur is the operator of both joint ventures.

4. JOINT VENTURE AT BLINMAN AND EDIACARA

Minotaur's three exploration licenses in the Blinman and Ediacara regions of the Flinders Rangers were joint ventured to Perilya Mines NL. The tenements contain numerous mineral showings including Ediacara (29 000 000 tonnes at approximately 1% lead with copper and silver credits), the Beltana Mine (200 000 tonnes mined at ~5% copper) and the high grade Third Plain Prospect (80 000 tonnes at 20% zinc).

Perilya, manager of the joint venture, plan to commence drilling early in 2000.

For details of the December Quarterly Report, click here.

Ross Mining (29 January 2000)

Quarterly Report - For The Period Ending 31 December, 1999 - HIGHLIGHTS :

The Company delivered a record 48,807 ounces of gold for the quarter at a total cash operating cost of A$338 per ounce (US$222).
Sound financial results (audited) were achieved for the half year ending December, 1999:
- Gross profit from operations A$25.9 million (up 47%);
- Operating profit before tax A$9.3 million (down 1%);
- Operating profit after tax A$6.6 million (up 9%) or 3.1 cents per share.
The Gold Ridge Mine delivered 27,291 ounces of gold for the quarter at a total cash operating cost of A$358 per ounce (US$235).
Following improvements in the conveying system, the Gold Ridge Mill had a throughput equivalent to 2.9 mtpa in December, 1999.
The Wirralie Mine delivered 15,662 ounces at a total cash operating cost of A$334 per ounce (US$219), a 20% decrease in costs over the previous quarter.
Residual leaching operations at Timbarra produced 5,854 ounces of gold at a cash operating cost of A$258 per ounce (US$169).
Comprehensive mine optimisation studies have shown that interim pits at Kupers and Dawsons can produce gold at less than A$200 per ounce (US$131) for a period of three years.
Gold production for these three years will be in excess of 170,000 ounces per year, or more than 500,000 ounces for the three year period. Plans are in place to access these pits by July, 2000.
In the six months to December, 1999, the Company's shareholder base increased by more than 65% to 7,670. During this period, over 107 million Ross Mining shares were traded, equivalent to 48% of the total share capital.
Further encouraging exploration results were obtained from Mase, with 12 metres @ 4.73 g/t gold intersected in a trench.

For details of the December Quarterly Report, click here.

Straits Resources (29 January 2000)

SUMMARY - FOR THE THREE MONTHS ENDED 31 DECEMBER 1999

Revenue of $26.1 million for the quarter and $96.4 million for the year, up 21.7% year on year.

Copper cathode production of 6,194 tonnes for the quarter and 22,662 tonnes for the year, up 20.5% year on year.

Coal production of 408,000 tonnes for the quarter and 1.58 million tonnes for the year, up 52% year on year.

Nifty copper production to be expanded to 25,000 tonnes per annum.

Drilling programme commenced at Tottenham.

Refinancing of existing banking facilities completed during quarter.

Second semi-annual convertible notes interest payment made.

Company agreed to sell Tritton Copper Project for $9 million.

For details of the December Quarterly Report, click here.

Coking Coal (28 January 2000)

It is rumoured that Australian coking coal producers have accepted a 5.1% price cut (from 1 April) in contracts with Japanese steelmakers.

Croesus Mining (28 January 2000)

Croesus announced that it would increase its offer for all the shares in Gilt-Edged Mining NL ("Gilt-Edged") by an effective 10 cents per Gilt-Edged share and extend the offer period to 15 February 2000.

Increased Offer
Croesus has increased its offer by one third of a Croesus share for each of the Cash and Share Alternatives. The revised offer is:

90 cents cash plus one Croesus share for every three Gilt-Edged shares (the Cash Alternative); or
Four Croesus shares for every three Gilt-Edged shares (the Share Alternative); or
A combination of the Cash Alternative and the Share Alternative.

The increased consideration for the Cash Alternative is subject to all necessary relief being granted by the Australian Securities and Investment Commission.
This increased offer is at substantial premiums to both the pre-bid and current market price of Gilt-Edged shares. This increased offer represents:

A 95% premium to the Gilt-Edged closing price on 5 November 1999 of 20.5 cents per share, the last trading day before Croesus announced its bid for Gilt-Edged; and
A 23% premium to the latest Gilt-Edged close price on 25 January 2000 of 32.5 cents.

Croesus Mining (28 January 2000)

December Quarter - Sumary:

Cash Reserves of $23 million.
Gold production of 10,834 ounces at a cash cost of $317 per ounce.
Anketell - Sale Option
A sale/option agreement has been signed for the Anketell project that should see $1.2 million
cash delivered to Croesus and an in specie distribution of shares to Croesus shareholders.
Fort William - High grade results reported from the Fort William deposit at Binduli.
Wallbrook Hill JV
Further encouraging drill results reported from Crusader and Kingsley zones.
Gold Forwards
10,866 ounces @ $466 and 20,625 ounces @ $470-$510. Mark to market value of $0.68 million.

Delta Gold (28 January 2000)

Delta produced a record 153,797 ounces of gold in the December quarter at a cash cost of $274/oz. Delta's move to 100% ownership of the Kanowna Belle gold mine in WA from 1 October was the main reaseon for the record output.

Goldfields / Gilt-Edged Mining (28 January 2000)

Goldfields announced a takeover offer for Gilt-Edged - just hours after Croesus had increased its offer for GEM. Goldfields cash bid of 42 cents/share values GEM at $34.6 million, a substantial premium to Croesus' increased offer.

Novus Petroleum (28 January 2000)

Quarterly Report 4Q99 - Summary

HIGHER EGYPTIAN PRODUCTION AND OIL PRICE GIVES A FURTHER 10% REVENUE BOOST FOR NOVUS
Higher production and sales contributions from its increasingly expanding Egyptian assets has propelled Novus Petroleum Limited to a 10% improved revenue result for the December quarter compared to the previous quarter.
The quarter’ s revenue was up 64% compared to the previous corresponding quarter in 1998.
Novus — one of Australia’ s top five petroleum stocks — today reported total revenue of $35.8 million for the three months ended December 31, 1999 compared with $32.4 million in the September 1999 quarter and $21.8 million in
the previous corresponding period.
Gas output surged 38% from 3.42 billion cubic feet in the September 1999 quarter to 4.73 billion cubic feet for the latest December period while total production rose 15% from 2.0 million barrels of oil equivalent (boe) to 2.3 million boe for the last three months of 1999.
The stronger revenue for Novus was also fuelled by further growth in the Company’ s average realised oil price, with the price per barrel rising to A$36.10 for the latest quarter compared to A$30.69 in the September 1999 quarter and
A$20.41 a year ago.
“Our increased production couldn’ t have come at a better time for us,” the Company’ s Managing Director, Dr Bob Williams, said today. “With oil prices at their current high levels, our growing production is translating into very strong cash flows.
“The December quarter result comes at a time Novus is poised to embark on a renewed and exciting exploration program on top of our continuing and very significant development activities.
“Over the next two years, Novus expects to grow production from around 24,000 boe today to approximately 35,000 boe by bringing on stream the best of our most recent discoveries.

Rio Tinto (28 January 2000)

Coal production in the 4th quarter was 36.07 million tonnes, 4% above the previous 4th quarter. Australian coal production fell marginally to 5.27 million tonnes.

Roper River Resources (28 January 2000)

Roper is to become an Internet player after announcing a deal to acquire online travel provider WEBJET. Roper will issue 50 million shares and change its name to WEBJET.

Ross Mining (28 January 2000)

RECORD QUARTERLY GOLD PRODUCTION LIFTS GROSS PROFIT FROM OPERATIONS TO $25.9 MILLION RESULTING IN AN OPERATING PROFIT AFTER TAX OF $6.6 MILLION

Ross Mining is pleased to announce an operating profit after tax of $6.6 million for the half year ending December 1999, up 9% on the previous corresponding period. This result equates to earnings of 3.1 cents per share and was realised from sales revenue of $58.2 million. Gross profit from operations was $25.9 million or 47% higher than the previous corresponding period.

The Company delivered 84,188 ounces of fine gold for the half year, including record quarterly gold deliveries of 48,807 ounces for the quarter ending December 1999. The realised gold price averaged $473 per ounce of gold delivered or $43 above the average spot price for the half year. Group average cash operating costs were A$350 per ounce of gold delivered (US$230). For additional information, click here.

Santos (28 January 2000)

Higher oil prices and an increase in gas sales propelled Santos to record annual sales revenue of $944.5 million for 1999, 23% above 1998.

Sons of Gwalia (28 January 2000)

Former Normandy Mining group executive, Mark Cutifani, will take over as Managing Director of SOG.

Strike Mining (28 January 2000)

Strike are investigating business opportunities outside of the Mining Industry in order to create greater value for Strike shareholders.

Union Capital (28 January 2000)

Union Capital Limited advises that mining consultants Bateman Engineering Pty Ltd (Bateman) have completed a preliminary open cut mine design of the Mehdiabad Zinc Project in Iran, based on a geological model constructed on Surpac software by Union’s geologists. The model relies on 23,555 metres of past diamond core drilling, which is currently being updated by Union’s geologists to include other geological information such as assays from sampling of old tunnels not previously digitised. The aim of the preliminary mine design was principally to select drill sites for conversion of the current resources to mineable reserves.
Bateman feel that based on existing information, an open cut mine appears feasible. Specialist mineralogical examination of 40 samples of the existing core indicates that most of the ore will be amenable to flotation.
Bateman have calculated the NPV of the project to be A$770 million (over US$500 million). Because the deposit is still at the “Resources” level of confidence, and further drilling is needed to upgrade the deposit to “Mineable Reserve”, Bateman have placed a confidence level on the above estimate of (+ 30% to 40%).
Under the “Basic Joint Venture Agreement” signed in November by Union, the Company is currently spending US$5 million to earn a 25% interest in the project.

The current resources are (at a 4% cutoff):
At a 4.0% Zn Cutoff:

Indicated Resource: 108.5 million tonnes at 7.0% Zn, 2.3% Pb and 58 g/t Ag
Inferred Resource: 97.0 million tonnes at 8.6% Zn, 1.7% Pb and 29 g/t Ag
Total Discounted Resource: 205.5 million tonnes at 7.7% Zn, 2.0% Pb and 44 g/t Ag

Gold (27 January 2000)

The Bank of England has sold another 25 tonnes of gold at auction for US$289.50/oz. The auction was 4.3 times oversubscribed.

Lynas Gold (27 January 2000)

Lynas has announced a 27% jump in gold production, from its 35%-owned Paraburdoo mine in WA (65% Sipa Resources), in the December quarter - to 20,318 ounces at a cash cost of $258/oz.

Mincor Resources (27 January 2000)

Following the drilling of 5 diamond drill holes, Mincor has confirmed the existence of high-grade epithermal gold mineralisation at its Banana Creek prospect in Fiji - with a best intersection of 23.4 g/t Au over 40cm.

Alkane Exploration (26 January 2000)

Summary - December Quarter:

PEAK HILL

Record gold production achieved for the quarter with the output of 6,621 fine ounces
Cash costs of A$357 per ounce with revenue of A$502 per ounce
Annual production of 23,615 fine ounces of gold, with near budget costs of A$404 per ounce and revenue of A$558 per ounce
Mine generates cash operating surplus of A$3.62 million for 1999

DUBBO

Feasibility process test work continues to achieve very positive results
Zirconia product grading 95% ZrO2 (HfO2) achieved
Test work underway to remove remaining impurities from zirconia product
Yttria-rare earth (Y2O3 + REO) process stream developed through to clean extraction solution

EXPLORATION

Molong gold-copper porphyry project farmed-out to Acacia Resources Ltd
Acacia can earn 75% interest by expenditure of A$3.8 million over 5 years

CORPORATE

Company now debt free

Amity Oil (26 January 2000)

Report for the Quarter Ended 31 December, 1999 - Highlights:

Final flow rate of 3 million cubic feet per day from the Whicher Range-4 well after remedial stimulation.
Marketing studies for the sale of gas from the Whicher Range-4 well give positive encouragement.
Seismic survey over the Whicher Range structure to begin in early February.
Amity Oil NL granted exploration rights to explore Block C099-F in the Cooper Basin of South Australia, 7 kilometres from the gas production facilities at Moomba.
Rutile-1 well site preparation in progress at report date.
Drilling of the White Opal well anticipated in April, 2000.

AngloGold (26 January 2000)

AngloGold was added to the All Ordinaries index yesterday - following its move of compulsorily acquisition of Acacia Resources.

Kidston Gold Mines (26 January 2000)

Gold production in the December quarter rose slightly to 53,545 oz.

Newcrest Mining (26 January 2000)

Newcrest Mining Limited advises that PT Nusa Halmahera Minerals (PTNHM – Newcrest 82.5%) intends to temporarily suspend operations at its Gosowong mine this week. This action is being taken as a precautionary measure following further civil unrest in North Halmahera.
PTNHM is not involved in the unrest and its neutrality has been acknowledged by all parties. No threats have been made against the mine or its employees. The number of people at the Gosowong operation has been reduced from around 300 to 40 over the past three days. Removed staff are on standby in Manado.
PTNHM is monitoring the situation and will resume operations when stability is re-established.

Victoria Petroleum (26 January 2000)

Victoria Petroleum NL, as Operator for the PRA 436 Joint Venture, advises that operations re-commenced at Cadart-1 AT 0300 hours WST on 25th Janaury 2000. Current operation is running in the hole to set plugs to enable the sidetrack from 1100m, to re-drill and re-test the primary target interval from 1535-1600m. The sidetrack is expected to take approximately two weeks.
Following the unexpected recovery of deeper non-commercial gas from DST #2, it is now considered possible that the loss of drilling mud into the formation that was tested by DST #1 prevented the recovery of true formation fluid, as only 40 barrels of drilling mud were recovered on DST #1, compared to the 140 barrels of drilling mud lost to the zone of partial lost circulation.

Ashton Mining (25 January 2000)

Ashton has reported a drop in diamond production in the December quarter - down from 9.1 million carats to 7.4 million carats.
Ashton also announced that it had delineated a new diamond zone which would form the basis of an underground resource - the initial target being 40 million tonnes @ 3 carats/tonne.
A similar resource is expected to be proven up beneath the open pit during the next 12 months.

BeMaX Resources (25 January 2000)

RE: COMBINING MURRAY BASIN JOINT VENTURE INTERESTS

BeMaX Resources NL "BeMaX" currently has a 50% interest in and is the Operator of the Murray Basin Joint Venture (MBJV). Other participants are Imperial Mining NL (25%) and Probo Mining Pty Ltd (25%). The joint venture holds extensive heavy mineral sand interests in the Murray Basin north of Mildura and recently announced a substantial discovery at the Gingko prospect.

BeMaX wishes to advise that it has signed a Heads of Agreement "Agreement" with Imperial Mining N. L., to combine BeMaX’s and Imperial’s MBJV interests into a single corporate entity.

This will result in one company holding a 75% interest in the MBJV. If Probo Mining Pty Ltd also participates in the Agreement, this will increase to 100%. For details, click here.

BHP (25 January 2000)

BHP has promoted Bob Kirkby to chief operating officer across its Minerals division.

New Hampton Goldfields (25 January 2000)

Report on Activities for the quarter ended 31 December 1999

Gold production for the quarter totalled 35,291 ounces at a cash operating cost of A$381 per ounce.

Shareholders approved the acquisition of the Big Bell Gold Operations on 20^th December 1999.

Following the allotment of 50,000,000 shares to Normandy Mining Limited the issued capital is 204,885,665 fully paid ordinary shares. The bonus option issue resulted in 76,586,373 options being issued.

The March quarter gold production forecast is to double to 70,000 ounces at a cash operating cost of A$384 per ounce.

Mining activities at Cuddingwarra have commenced.

Encouraging exploration results were achieved at Golden Ridge and Bakers Flat.

Cash and bullion of A$13.4 million on hand.

Hedge book, mark to market value of A$12.9 million.

OVERVIEW

Shareholder approval was obtained for the acquisition of the Big Bell Gold Operations at Cue in Western Australia and the balance of the Hampton Joint Ventures. The effective date of acquisition was 1 December 1999 with settlement and transfer of ownership on 25 January 2000.

The company's gold production for the quarter was 35,291 ounces at a cash operating cost of A$381 per ounce. Jubilee Gold Operations for the quarter produced 22,222 ounces at a cash operating cost of A$388 per ounce and production from Big Bell Gold Operations was 13,069 ounces at A$368 per ounce for the month of December only.

Gold sales totalled 17,700 ounces, at an average realised price of A$479 per ounce compared with the average spot price of A$458 for the quarter. Cash and bullion on hand at 31 December 1999 was A$13,389,000. The co-incidence of a spike in the USD gold price in late October 1999 and the acquisition of Big Bell Gold Operations allowed the company to increase its hedging to 521,000 ounces at an average price of A$474 per ounce. The mark to market value was A$12.9 million at 31 December 1999.

Forecast gold production is to double to 70,000 ounces at a cash operating cost of A$384 per ounce for the March quarter, comprising 47,000 ounces at a cash operating cost of A$387 per ounce for Big Bell and 23,000 ounces at a cash operating cost of A$379 for Jubilee. An increase in gold production and reduction in cash operating costs at Big Bell will result from the recommencement of open pit mining at Cuddingwarra. Improvement in metallurgical recoveries, other capital works and the reduction in staffing levels will also favourably impact on Big Bell Gold Operations.

Grade control drilling is underway at Cuddingwarra and the mining of oxide ore will commence in early February. Recent pit optimisation has increased the probable Cuddingwarra reserves to 154,000 ounces as 1,600,000 tonnes at 3.0 grams per tonne ("g/t") gold. A review of all Big Bell and Cuddingwarra exploration data is progressing.

Drilling at Golden Ridge, Jubilee Gold Operations, intersected 8 metres at 38.8 g/t gold from a depth of 82 metres and 6 metres at 57.0 g/t gold from a depth of 172 metres below and to the north of the current pit. Previous drilling at Chatanooka intersected 2 metres at 18.4 g/t gold from a depth of 14 metres and 4 metres at 10.0 g/t gold from a depth of 16 metres, indicating potential for a shallow open pit resource. Chatanooka is located adjacent to the current mining operations of Gala West; both of which are approximately 40 kilometres from the Jubilee mill.

The company completed the distribution of its entire shareholding in Mineral Deposits Limited ("MDL") to its shareholders in the ratio of five MDL shares for every eighteen company shares held. A one for two bonus option issue, with an exercise price of 23 cents each and an expiry date of 30 April 2001 was also made to shareholders.
For details of the December Quarterly Report, click here.

North Limited (25 January 2000)

West Angelas receives Letters of Intent

A decision on the future of the West Angelas Iron Ore Project moved a step closer today when Robe River Iron Associates received Letters of Intent from each of seven Japanese steel mills to purchase Marra Mamba ore mined from West Angelas. The Letters of Intent from each of the Japanese steel mills to buy West Angelas ore covers eight years from the first half of 2002. The total tonnage of all of the seven mills will be 5 million dry long tons* in 2002/03 increasing by 1 million dry long tons/year to 8 million tons/year in the fourth year and thereafter. The product mix for lump:fines will be 33:67.
Robe has also received expressions of strong support from other customers in Asia and Europe.

Pasminco (25 January 2000)

Production in the December quarter rose 21% (above the previous corresponding quarter) but was 2% below the September quarter.

Portman Mining (25 January 2000)

Portman will acquire Angang's 40% stake and assume 100% ownership of its Koolyanobbing iron ore project from 1 January, 2001.

Shield Equities (ex Leo Shield Exploration) (25 January 2000)

REQUEST FOR TRADING HALT

As advised, Shield Equities Limited is conducting negotiations and due diligence investigations in relation to possible investment opportunities.Negotiations and due diligence investigations in relation to a significant proposal have reached a stage where although there is no final agreement, the likelihood of such agreement being completed within the next few days has increased.
In the circumstances, it will be appreciated if you can arrange a trading halt for the company pending an announcement on the finalization of the contract. The announcement will be made prior to the market opening on Tuesday 25 January.
For additional information, click here.

Titan Resources (25 January 2000)

Report on Activities for the quarter ended 31 December 1999 - Highlights:-

Continued high production of nickel concentrates at the Radio Hill mine.
Sale of the second copper concentrate parcel of 2,551 tonnes from the Radio Hill mine.
Construction of the 5,000 tonne batch pilot plant for bacterial leaching of Mt Sholl nickel-copper ore almost completed.
Sale of East Location 45 for $2.1 million.
Drilling success at Mt Sholl.

During the quarter the Radio Hill mine yielded 52,545 tonnes of ore to produce 9,859 tonnes of nickel concentrates at 10.84% Ni, 5.74% Cu and 0.61% Co.
Minor disruptions to production during December were due to Cyclone John and subsequent heavy rain.
The full benefit of the much improved nickel price has been limited by the company’s exiting forward sales positions. While the situation is ongoing, it is improving steadily. Gross income for the period aggregated $9.6 million whilst satisfaction of the existing forward contracts for nickel was at a total cost of $1.7 million for the three months.
The cash costs after by-product credits for the quarter were US$0.82 per pound of nickel.

Exploration

Radio Hill
In November 1999, eight RC holes for 3,000m were drilled to test for southern extensions to the known Radio Hill massive sulphide orebody. The drilling was designed to intersect down plunge extensions to stringer mineralisation outlined in previous drilling and to test a number of downhole EM conductors generated from previous drilling.
All holes intersected zones of low grade disseminated nickel/copper mineralisation. Four holes intersected higher grade disseminated/stringer mineralisation and RHP366 intersected a 0.5m zone of massive sulphide on the intrusive/basement contact.

Sholl A1
In November-December 1999 an RC drilling programme was carried out at the Sholl A1 prospect to confirm the presence of disseminated Ni-Cu mineralisation and to test for extensions to the known mineralisation. The Sholl A1 prospect was first discovered in the early 1970’s and has only received minor drill testing compared to the more significant Sholl B1 and B2 ore deposits.
The prospect is located on the northern side of the Mt Sholl layered mafic-ultramafic intrusion approximately 15km to the North of the Radio Hill mine. The geological setting is similar to the Sholl B1 deposit with layered gabbro-norite rocks dipping north at approximately 65° below intermediate volcanic rocks. The Ni-Cu mineralisation occurs at the base of the gabbroic intrusive rocks as both disseminated and stringer/massive sulphides.
A total of 8 RC holes for 977m were drilled at Sholl A1 with the aims as set out above. All holes intersected zones of disseminated Ni-Cu mineralisation with minor stringers of copper rich mineralisation in places. Hole A1RC6 intersected a significant zone of stringer type mineralisation with elevated Palladium values. The existence of this zone, at 156m downhole, does point to the possible presence of an extensive mineralised system at Sholl A1. Significant intersections are shown in Table 3.

East Location 45 - Mt Martin Gold Mine
East Location 45 was sold to Pacific Nevada Mining Corporation Limited during the quarter for $2.1 million. Of this, approximately $400,000 is dedicated to rehabilitation of the old Mt Martin mine pit areas.

Zimplats (25 January 2000)

Chairman and chief executive Peter Vanderspuy has announced his retirement due to health reasons. He will continue as a non-executive director.

Alkane Exploration (24 January 2000)

In the December Quarter, Alkane produced 6,621 ounces of gold at a cash cost of $357/oz.
Part 2 of a 3 part study on its Dubbo zirconia project in NSW, should be completed next month, and part 3 by the end of the year. If the results are positive, Alkane could be producing by the end of 2001 - initially 3.600 tonnes/year of zirconia (7% of world production). Based on zirconia prices averaging between US$4-7/kg, the project is forecast to generate $50 million in revenue/year and up to $15 million in free cash flow.

Beaconsfield Gold (24 January 2000)

Notice is hereby given that an extraordinary general meeting of Beaconsfield. Gold N.L. will be held at the Beaconsfield Community Centre, 92 Weld Street, Beaconsfield, Tasmania at 11.00 am on Thursday 24 February 2000.

SPECIAL BUSINESS: NEW OPTIONS

To consider and, if thought fit, to pass the following as a Special Resolution:

"That for the purposes of sections 232A and 243Q of the Corporations Law and rules 7.1 and 10.11 of the Listing Rules of the Australian Stock Exchange Limited and for all other purposes, the directors be authorised to grant in accordance with the terms of this notice of extraordinary general meeting and the explanatory statement attached to and forming part of this notice of extraordinary general meeting up to a maximum of 5,020,537 options exercisable at $1.50 on or before 1 March 2001 at an issue price of $0.02 each and otherwise on the terms set out in the explanatory statement ("New Options") on the basis that priority in relation to the issue of the New Options will be given to those persons who on the record date for the purposes of the proposed issue are registered or entitled to be registered as holders of options exercisable on or before 1 March 2000".

For additional information, click here.

Gold and Resource Development (24 January 2000)

Gold and Resource Development (formerly Union Gold Mining) sold 39,800 ounces of gold in the December quarter, and achieved new low cash costs of $304/oz..

Golden Heritage Mining (24 January 2000)

GHM is looking to acquire the Clunes goldfield, 25km from Ballarat, in Victoria. GHM has an option over 51% of the project. GHM said very little exploration work had been carried out on an area of about 100Ha which in the 1890's was covered by mine plant and tailings. GHM also believed that about 2 million tonnes of tailings was buried under nearby private land.

Marlborough Resources (24 January 2000)

Marlborough says a feasibility study showed the Ardlethan tin project in NSW could produce an operating profit of A$6million/year - it calculated the cash cost of production of tin in concentrate at about $3367/tonne over the first 3 years, compared to a selling price of about $7000/tonne. Estimated development cost is $5.3 million, with 1 bank already offering to lend that amount.

Pacific Mining Corp (24 January 2000)

Pacmin is expected to start construction in March of its 150,000oz/yr Carosue Dam gold mine (2.2 million ounce resource) in WA. A feasibility study is scheduled for completion within 1 month and financing would be via a mixture of cash resrves and debt facilities already in place.

Alinta Gas (22 January 2000)

Tony Howarth has been appointed chairman of the WA energy company Alinta Gas.

Beaconsfield Gold (22 January 2000)

HIGHLIGHTS - DECEMBER QUARTER

Commissioning / optimisation of the 200,000 tpa ore treatment plant taking longer than expected but gold production progressively increasing with 8,547 ounces produced for the quarter.
Four stoping levels, necessary for full mine production, now opened up.
Encouraging positive gold reserve reconciliation for ore mining to end December of 110%.
Extension of the Tasmania Reef at least 65 metres beyond the eastern reserve boundary with further exploration driving to follow.
Water ingress in early December successfully dealt with by the mine's pumping installations.
$1.4 million in equity funding raised by Beaconsfield Gold during the quarter from the exercise of directors' and officers' options.
Marked to market value of Beaconsfield Gold hedge book at 31 December 1999 of $6.1 million. Hedge book "plain vanilla" with no options on gold price and no exposure to margin calls.

For details of the December Quarterly Report, click here.

Caledonian Pacific (22 January 2000)

CP has advised that it was evaluating investment opportunities in the high-tech arena. CP's share price jumped from 19 cents to close at 50 cents, on low turnover.

Durban Roodepoort Deeps (22 January 2000)

DRD has announced a 34% increase in gold production in the December quarter to 314,916 ounces (at a cash operating cost of $389/oz) and a 60% increase in cash operating profit to $16.3 million.

Hill 50 Gold (22 January 2000)

December Quarter Report

PREAMBLE
The December 1999 quarter represented a major milestone for the rejuvenated Hill 50 Gold NL. There were several significant achievements during the quarter. The most significant of these was the completion of the Company’s Checker treatment plant expansion on time and within budget. This culminates the intensive capital works programs undertaken over the past 2 years. In this period the Company has rejuvenated this project with substantial exploration success at the Hill 50 and Star underground mines as well as from a regional production perspective.
The completion of the Checkers plant expansion gives the Company the capability to lift gold production to its target of 250,000 oz per annum.

Highlights:

Gold production for the quarter totalled 34,006 ounces despite loss of production associated with the completion and commissioning of the expanded plant.
Cash operating costs were A$335 per ounce reflecting the increased tonnage of lower grade open pit ore processed.
The Checkers treatment plant expansion was completed on time and within budget expectations. It is currently operating at 330 tph.
Three new gold discoveries made during the quarter:
- Reno Prospect: a virgin Hill 50 style — BIF hosted deposit with exceptional open pit and underground prospectivity.
- Nazareth Prospect: a primary and paleochannel discovery located immediately west of the Hill 50 line.
- The O’Meara Prospect (75% HFY): a new discovery occurring as ultramafic shear hosted mineralisation within the Triangle Bore Joint Venture. The mineralised zone is located along strike from the 100% owned new Pulsar discovery announced previously.
Significant new open-pittable mineralisation discovered in extensional programs:
- Blackcat South Prospect: mineralisation associated with the historic Blackcat working to the south of the Star mine.
- Edward Carson Prospect: mineralisation below the old Edward Carson Pit which was previously mined as an extension to the Star Pit.
A capital raising of $10 million gross was completed during the quarter by the placement of 10 million shares at $1.00 per share to clients of Salomon Smith Barney Ltd. The funds were applied to replenish working capital absorbed during the capital works and exploration programs of the last 6 months enabling the company to remain free of debt.

Macmin (22 January 2000)

TEXAS SILVER PROJECT QUEENSLAND

Bob McNeil, Managing Director of MACMIN N.L. will brief shareholders and interested investors on the progress of the Texas Silver Project Development in SE Queensland and on other MACMIN Gold/Copper Projects. Presentations will be held in Brisbane, Sydney, Melbourne, Perth and Adelaide. For details, click here.

Pacific Mining Corp (22 January 2000)

Pacmin said its Tarmoola gold mine in WA produced a record 61,628 ounces in the December quarter - at a cash cost of A$279/oz.

Pasminco (22 January 2000)

Temporary Shut Down Of Blast Furnace At Port Pirie Smelter
The blast furnace at Pasminco Port Pirie Smelter was shut down early this morning to complete repairs resulting from a tapper failure. Full production is expected to be resumed on Wednesday evening 26 January.
Production shortfall for the five days is expected to be in the vicinity of 3,000 tonnes of lead and 100 tonnes of zinc.

Friday 21st January 2000 (Close of Business)

All Ords 3103.4 -33.7
Dow Jones 11,251.71 -99.59

All Resources 1369.1 -31.3 S&P 500 1441.36 -4.21

All Mining 740.7 -14.9 Nasdaq 4235.40* +45.89

All Gold 889.5 -13.3 FTSE 100 6346.30 -2.40

Energy 1407.7 -20.3 Nikkei 18,878.0 -129.9

All Industrials 5339.5 -45.2 Gold - spot US$288.60 +0.60

A$ = US66.33c -0.23 Silver - spot US$5.20 -0.02

A$ = 69.51yen -0.56 Platinum - spot US$442.00 +3.00

A$ = 0.657Euro +0.002 Bridge CRB Index 211.51 -0.83

US 30-Year Bond 6.709% -0.018 Crude Oil (NYMEX) US$28.20 +0.23

Live Quotes & Charts - Australia

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LionOre / Dalrymple Resources (21 January 2000)

LionOre believes it has made the best gold discovery in Australia since Kanowna-Belle in 1992. LionOre has just completed a drillinmg program at the Thunderbox deposit in WA, with results including 74m @ 4.65 g/t Au, 60m @ 5.56 g/t. and 18m @ 4.50 g/t.

Macmin (21 January 2000)

DIAMOND CORE ASSAYS, TEXAS SILVER PROJECT QUEENSLAND

Silver results have been received from a further two diamond core holes at Twin Hills Prospect, Texas Silver Project.
The results from hole 13, which was drilled at 4150N, 2583 E confirm a second and apparently separate zone of higher-grade mineralisation. This hole, from 6m to 50.3m (EOH) averaged 130g/t Ag and included 16m at 273g/t Ag between 16 and 32m downhole.For details, click here.

Newcrest Mining (21 January 2000)

Three Months ending 31 December 1999
The December Quarter achieved production and cost targets. Approval was given for the next stages of three major development projects.

OVERVIEW

Production

Gold production up 14% to 263,898oz.
Total cash cost in line with the previous quarter at $273/oz.*
Gosowong completed its first full production quarter contributing 81,291 oz at a total cash and
total production costs of A$174/oz and A$365/oz respectively.

Development

Board approval was given for the next stages of development for three major underground
projects. These include full construction of Ridgeway and Stage 2 of Mt Marion (New
Celebration), and evaluation of the next stage of the Telfer I Series Project.
The Cadia Hill Strategy Study has been completed.

Exploration

Exploration at the Cracow Joint Venture (NCM 70%) continues to show encouragement.

Hedging & Finance

At 31 December 1999 the hedgebook comprised 6.9M oz.
Mark to market for gold and copper hedging was $202.6 million and negative $51 million respectively.
Audited interim financial statements are anticipated to be released on 25 February 2000.

* Gold Institute Standard production and cost data. Comparisons with the September 1999 quarter.

Rio Tinto (21 January 2000)

The Canadian Government has rejected an application from Rio for access to the land at its Diavik diamond mine - one of the richest diamond deposits discovered - in the Northwest Territories.
Rio expects the development will be delayed at least another year.

Woodside Petroleum (21 January 2000)

REPORT FOR THE QUARTER ENDED 31 DECEMBER 1999

Sales revenue for the quarter jumped 49% to $347.1 million - mainly due to Laminaria coming on stream. The share price rose 8% to $12.49.

Woodside Petroleum (21 January 2000)

Laminaria and Corallina Development - Information as at 17th January 2000

HIGHLIGHTS

The project’s LTIF (Lost Time Injury Frequency) was 1.4 per million hours worked. The operational LTIF was 0 for the period 7/11 to 31/12.
The Northern Endeavour FPSO arrived at the Laminaria location on 7 October 1999.
Installation and hook-up of the risers and the mooring lines was completed ahead of schedule.
Production into the Northern Endeavour commenced at 19:35 hours on 7 November.
Total production to 31 December was 5.810 million barrels.
Production rates up to 160,000 barrels per day have been achieved.
11 cargoes (7.611 million barrels) have been dispatched to date without incident.
Start up and commissioning of systems continues with completion planned by end January.
To date, system reliability has been exceptional with cumulative uptime of 94% since start-up.

Climax Mining (20 January 2000)

Korean-based LG Group is to invest US$25 million in the development of Climax's Dinkidi gold-copper project in The Philippines. The LG Group will acquire project equity, debt and a concentrate offtake agreement. Climax says additional funding also has been offered bu a European funding agency. Climax shares jumped 4.5 cents to 18 cents.

Macmin (20 January 2000)

FOURTH QUARTER TECHNICAL REPORT - 1999

SUMMARY AND COMMENTS

TEXAS PROJECT

The Texas Silver Project continues to make excellent development progress as it moves toward silver production planned for the last quarter of 2000. The Project is located approximately 200 km SSW of Brisbane, Queensland, Australia. Feasibility studies are in progress for the development of a silver heap leach mine that is based on an Inferred Resource of 35M ozs silver, with a Probable Reserve (within the resource) of 8.6M ozs of silver. In addition there are also minor gold credits. The potential to substantially increase the Resource and Reserve is excellent, based on extensive drilling, geochemical and geophysical surveys.

The main developments during the quarter were:

Drill assay results from the latest holes returned the highest silver results to date with assays to 3020g/t silver over 2m in Hole 133. In addition, many wide and high-grade silver drill intersections were received, such as the surface to 28m (entire hole) in hole 138 at 436g/t Ag, including 8m at 922g/t Ag. The last or bottom of hole 2m sample contained 361g/t Ag indicating probable continuation to depth. Results from a further 30 holes are still pending.
High-grade silver was encountered in surface trenches with results to 1460g/t Ag and 2.10g/t Au over a 5m interval; 406g/t Ag over a 40m interval. This trench discovered the surface exposure of the high-grade ore zone at the Project. The main significance of the trench and hole 143 (see below) is that the high-grade mineralisation has now been traced further south than was previously known and is still open to the south and southwest.
The project is approximately three weeks ahead of schedule with the MiningLease application and EMOS (Environmental, Management, Overview, Strategy) being lodged with Queensland Department of Natural Resources on January 7^th, 2000
A convertible note agreement was signed with Peakhill Pty Ltd, whereby they will advance to MACMIN, earthmoving contracting work to be carried out at the Texas Silver Project, to a total of $400,000.00. The convertible notes have an interest rate of 8% per annum and, at MACMIN'S discretion, can be repaid in cash or MACMIN ordinary shares, at a strike price of 4.7 cents on or before 14^th October 2000. The earthmoving contract includes extensive bulldozer and excavator trenching for exploration purposes (intended to increase total silver resource at Texas and to define additional targets for drill testing), site access road and water storage dam construction.
The first water storage dam (for use in processing of the silver ore) has been completed and the second dam should be completed during the first quarter of 2000.

The present drilling program includes approximately 100 shallow (30m) percussion drill holes and seven diamond core holes. Results for 70 percussion and 2 diamond core holes have now been received and all remaining results should be available and released by early February. The percussion holes are designed to bring part of the ore reserve to a proven status, to define the limits of the proposed pit, to bring resources adjacent to the known ore reserve into an ore reserve category (and thus increase the ore reserve), and to explore for new resources adjacent to and near the proposed mine.

The drill results to date are very encouraging and have confirmed the existence of the high-grade silver zone within the orebody, that commences at surface and extends to depths greater than 30m (limit of present holes). Many holes reported high grade assays in the last sample of the hole - up to 650g/t silver in hole 133, indicating that this near surface high grade zone extends to depths below 30 metres.

Very little stripping is required to access this high-grade zone. Drilling to date has confirmed the high-grade zone over a strike length of 100 metres (within the overall silver mineralised zone which extends along strike for at least 900m) with further significant mineralised extensions likely to the south and west. This continuity of high-grade intersections along strike is illustrated by selected holes listed below:

Hole
No
Drill Section
Metres North
Intersection
From/To (m)
Silver
Analysis (g/t)
(1)
Last Assay in Hole ((g/t)

145
4208
0-30
154
30

144
4225
0-30
170
75

143
4231
0-30
217
182

139
4237
0-30
225
394

138
4243
0-28

16-24

436

922

361

137
4243
0-30

inc 0-12

349

625

48

133
4249
0-30
391
650

85
4262
12-30
226
35

120
4279
6-30
163
193

92
4287
6-30
178
113

(1) The last assay over a 2m interval in each hole is shown to indicate probable extension to greater depths.

Results from two diamond core holes were received (results from 5 holes still pending). Both holes intersected potentially ore grade mineralisation over their entire lengths of 84 and 81m respectively. Diamond Hole 9 included an 8m zone (30-38m) averaging 328g/t Ag and Hole 10 a 22m zone (10-32m) averaging 168g/t Ag.

The mine will be sited entirely within freehold land and thus native title is not an issue.

The director's note that the initial mine will be relatively small, however, it is likely to be highly profitable. The prefeasibility study suggested the NPV of the Ore Reserve is $9.5 million (at 12% discount rate), the project would return a net cash flow of $14M over 3 years, and the project rate of return is a massive 140%. It should be noted that at this stage less than 25% of the Resource is known with sufficient confidence to be categorised as Ore. As mining proceeds it is likely that much of this resource will be upgraded by additional drilling to ore category and thus increase mine life. Also the district wide evidence for further resources is excellent, based on widespread geochemical and geophysical surveys. The ultimate silver resource at Texas could be much larger than estimated to date.

NEW BRITAIN PORPHYRY COPPER/GOLD PROJECTS, PNG

The main points relating to this joint venture are as follows:

Cyprus Amax has spent in excess of $500,000.00 on exploration on the JointVenture.
At Simuku one outcrop grab sample returned 210g/t Au in a virtually unexplored area.
Most of the dacite porphyry intrusive at Simuku is mineralised by copper. Based on a map by Cyprus Amax, MACMIN estimates that the volume of such copper mineralisation, at an average grade of 0.35% Cu, exceeds one billion tonnes, and that within such a large volume it is almost certain that significant high-grade zones exist.
At Mt Nakru the widespread occurrence of mineralised (up to 32g/t Au) lithic breccia clasts in colluvium suggest potential for the discovery of a significant bedrock source of hypergene gold mineralisation.
Not withstanding the above results, and solely as a result of a merger with Phelps Dodge, Cyprus Amax is to withdraw from New Britain Joint Venture (Mt Nakru, Simuku and Whiteman Range Projects). Cyprus Amax do not retain any equity in these Projects.
Cyprus Amax are not withdrawing because of exploration results but because the joint venture no longer fits within Phelps Dodge's investment portfolio. The withdrawal does not reflect on the discovery potential of the tenements, which was enhanced by the Cyprus Amax exploration and will be further enhanced by future work.

CORPORATE

On January 7^th a group of investors associated with Merthyr Holdings Pty Ltd (Merthyr) announced to the ASX that they had signed an option agreement with MACMIN's largest shareholder the National Provident Fund (NPF), whereby the NPF had granted to Merthyr and Associates an option over a total of 14,136,200 MACMIN shares, (9.89 of issued capital). The option payment was $34,000 and the total cost of the transaction, if exercised, is $798,172.00. This agreement removes a substantial real/perceived overhang of MACMIN shares from the market and shows confidence in the future for a substantial appreciation in MACMIN's share price.

For details of the Quarterly Report, click here.

Normandy Mining (20 January 2000)

Report on Activities for the three months ended 31 December 1999

PRODUCTION (attributable) ... Three months - 485,502 ounces Six months - 1.0 million ounces

DEVELOPMENT ...
Pajingo and Martha mine expansions completed, Wandoo positive piloting results

EXPLORATION ...
Wide gold intersections at Kenbert (Ghana), new zinc-gold mineralisation at Gossan Hill

The December 1999 quarter has been important for Normandy. Production, cost and development results confirm that the Company’s focused strategy of operational rationalisation and optimisation is delivering the desired outcome promised to shareholders in our recent Annual Report.
In addition, this Company's unique commitment to sustained exploration activity - despite the difficult environment for resource companies - has been rewarded with a degree of success in this first six months which adds substantially to 1999, our most successful year.

North Ltd (20 January 2000)

The underground mine at Northparkes is scheduled to recommence production with the first shift tomorrow morning.
The underground operation at the copper-gold mine at Parkes in Central New South Wales has not been producing since a tragic accident on November 24, 1999, which claimed the lives of four workers.
North Limited and Northparkes management, following advice from the NSW Department of Mineral Resources (DMR), agreed today that the underground mine could safely re-commence operation after geotechnical surveys, drilling, and visual inspections had confirmed the structural integrity of the mine.

Northparkes General Manager, Pat Emory, said there would be a staged build up from the underground starting with about three-quarters of daily production with normal daily production expected to be reached early next week.
Despite the closure of underground production, the Northparkes mine has continued to produce copper-gold concentrate throughout this period using stockpiled ore from the underground and from the open pits.

Petroz (20 January 2000)

Petroz advises that a workover of the Elang-2 well will be carried out following the sidetrack drilling operation at Elang-1. The workover will involve replacement of the gas lift valve, running production logs, and a possible reperformation of the upper zone. This wireline operation will take approx. 2 weeks to carry out and, if successful, will increase the production rate from the well.

Chevron (19 January 2000)

Chevron has confirmed that its Australia-PNG business unit will take over operation of its WA assets from West Australian Petroleum from 1 February. Under the move, WAPET - which operates projects on behalf of its JV partners Chevron, Texaco, Mobil and Shell - will cease to exist.
The new business unit will employ about 900 people in Australia and PNG.
Chevron is closing its Melbourne and Perth offices and will join the WAPET staff in Perth, which will become the head office for the unit.

Precious Metals Australia (19 January 2000)

Hartley Poynton Limited, Morning Communique - Monday, 17 January 2000
Precious Metals Australia Ltd (PMA) (Speculative Buy) $0.28

Vanadium pentoxide prices have bounced at last from 6 year lows amid signs a rally could develop reversing the downtrend which commenced in May 98. PMA has just sold V₂O₅ material at US$1.54/lb which is 28% higher than the last quoted Metal Bulletin price of US$1.20/lb. For more information, click here.

Preston Resources (19 January 2000)

It is anticipated that Preston will announce today a "standstill" agreement on interest payments to American bond holders as it attempts to keep its Bulong nickel project in WA. The agreement will be a prelude to the bondholders taking a direct interest in the 9000tpy Bulong project.

Victoria Petroleum (19 January 2000)

Victoria Petroleum NL, as Operator for the PRA 436 Joint Venture, advises that the Cadart-1 is being suspended while preparations are made to sidetrack from 1100m and re-drill and re-test the primary target interval from 1535-1600m.
Following the unexpected recovery of deeper non-commercial gas from DST #2, it is now considered possible that the loss of drilling mud into the formation that was tested by DST #1 prevented the recovery of true formation fluid, as only 40 barrels of drilling mud were recovered on DST #1, compared to the 140 barrels of drilling mud lost to the zone of partial lost circulation. The absence of a true formation fluid recovery from DST #1, and the gas cut drilling mud recovered in the lowermost part of the test tool string provide encouragement to test more completely the hydrocarbon potential of the lost circulation zone.

Australian Gas Light Co (18 January 2000)

AGL, throught its majority-owned New Zealand gas transmission group Natural Gas Corp Holdings, may buy a controlling stake (75.8%) in Trans-Alta New Zealand

BHP (18 January 2000)

BHP says it will carry on with its industrial reforms in the Pilbara in order to continue to rebuild BHP as 'an internationally competitive company'. The dispute with unions over individual contracts continued.

Croesus Mining (18 January 2000)

Drilling Results Fort William Deposit, Binduli
During December and early January, six diamond drillholes and eight reverse circulation drillholes were completed at the Fort William prospect at Binduli.
Complete results for this drilling are now available and have confirmed the presence of a discrete but high-grade mineralised zone at Fort William over at least 150m strike, being open at both ends.
Significant reverse circulation and diamond drilling results include

21m @ 4.49 g/t from 60m - BCRC 3545
9m @ 6.43 g/t from 51m - FWD 03
6m @ 20.15 g/t from 79m - FWD 04
8m @ 4.11 g/t from 72m - FWD 06
7m @ 15.9 g/t from 72m - FWD 07

This recent drilling has greatly assisted our understanding of the geological setting and geometry. The mineralised zone is on the contact with sheared porphyry. It exhibits an upper flat dipping component that gradually steepens to become steeply east dipping. It is dominantly sediment hosted and occurs as a high-grade sulphide zone with upper level transitional and supergene components.
The current gold resource at Fort William, that does not include these results is 2.2 million tonnes @ 2.2 g/t (157,000 ounces).
Further drilling will commence this week to define the extent of the higher-grade core of the mineralised zone and to continue step out drilling to the north and south. Formal resource calculations should be available in February.

DRD / Dome Resources (18 January 2000)

A move by South Africa's JCI group of companies to form the world's 9th largest company has collapsed amid a scandal that may affect DRD's offer for Dome.

Macmahon Holdings (18 January 2000)

LJFT Ltd plans to amend the takeover documents for macmahon in a bid to provide greater disclosure.

Reefton Mining (18 January 2000)

Reefton's move into adult entertainment yesterday saw its share price jump 25%. Reefton is to proceed with the acquisition of a 40% interest on Ontel Communications.

Sons of Gwalia (18 January 2000)

QUARTERLY REPORT TO SHAREHOLDERS DECEMBER 1999

Chairman's Comments

For the quarter ended 31 December 1999, the Company produced 98,720 ounces of gold at a cash cost of $340 per ounce. Gold production marginally exceeded budgetary targets due to higher than expected residual production from the Cornishman Joint Venture.
Tantalum concentrate production was a record 285,702 lbs. for the quarter. This represents an increase of 40 per cent over the September quarter and an annualised production rate exceeding 1.1 million lbs. per annum. Tantalum production is expected to continue to increase further over the next two quarters as production from the newly commissioned plant at the Wodgina Mine continues to increase and the grade from the Greenbushes Mine improves in the second half.

Tantalum demand continues strongly, driven by recent positive forecasts by Nokia on global mobile telephone usage, along with increasing usage from other areas.

The underground operations at the Sons of Gwalia Mine produced 105,231 tonnes at 4.14 g/t gold in its first continuous quarter of production. Infill drilling of the underground resource continued to produce some very good high grade results. However, the current mining method of hanging wall development in the Main Lode has proven difficult to execute. An alternative method involving footwall development has proven successful and the mine is currently being converted to this method.
Underground production will continue at current levels during this transition period of approximately six months.

First ore was mined from Red October late in December 1999 and the project remains on schedule.

The Marvel Loch Mine continues to benefit from increased ore flexibility and posted another good quarter.

The Yilgarn Star Mine produced gold at lower than average grades due to the timing of access to higher grade stopes. The grade should improve in the second half. Encouraging drilling results were achieved from deep drilling at Yilgarn Star.

The Bullfinch Mill produced an excellent result for the quarter and is now expected to continue through to March 2000 milling residual low grade stock piles.

During the quarter, the Company entered into a number of joint ventures in the Gold Division all within trucking distance of existing milling facilities. These are detailed on page nine of this report.

The Company has aggressively pursued, and will continue to pursue, a number of opportunities to expand in the gold sector however suitable opportunities at appropriate prices continue to be difficult to identify.

Victoria Petroleum (18 January 2000)

Victoria Petroleum NL, as Operator for the PRA 436 Joint Venture, advises that the Cadart-1 exploration well has reached total depth of 1,930 meters. Current operation is preparing to suspend the well and move the rig off location. During the weekend a 24-hour open-hole drill-stem test of the interval 1619-1930m produced a non-commercial flow of gas to the surface at a rate too small to measure (RTSM) accurately, until the well stopped flowing of its own accord.

Alcaston Mining (17 January 2000)

Alcaston has collected 160 samples from various sites in its 15,000 sq.km diamond exploration concessions in Sweden and is looking to raise $2 million through a Swedish broker. This will be folowed by a $10 million initial public offering in Stockholm later this year by a newly established subsidiary, Alcaston Diamond Exploration AB.

Conquest Mining (17 January 2000)

Review of Exploration Activities for December 1999 Quarter

Kimberley Diamond Exploration, Western Australia
Grant of Leases
After consultations with the Kimberley Land Council and the Aboriginal Legal Service, agreement has been reached with traditional owner representatives on all the exploration ground held by the company that was subject to native title claim. Consequently, all of Conquest’s exploration area in the Bow River and Ellendale has now been freed of Native Title objections. A heritage survey will be undertaken on the Bow River leases in February/March 2000 as the final statutory requirement prior to further on ground exploration activities that are planned to commence at the beginning of April.

Option Agreement-Lower Smoke Creek, East Kimberley
The company is pleased to announce that at the end of the quarter, an option agreement was entered into that will enable the company to acquire a large, highly significant tenement holding containing major accumulations of diamondiferous gravels at Lower Smoke Creek, in the East Kimberley of Western Australia.
Smoke Creek is an important north to north-easterly watercourse that drains the Argyle AK1pipe through the Ragged Range Gorge and ends at Lake Argyle. Argyle Diamond Mine have mined the Upper Smoke Creek for alluvial diamonds for over ten years and the operation currently produces approximately 2 million carats per year. The Lower Smoke Creek tenement area occupies the low-lying broad plain adjacent to the present position of Lower Smoke Creek which itself is covered by mining leases of Argyle Diamond Mine.

Croesus Mining / Gilt-Edged Mining (17 January 2000)

Croesus has extended it's takeover offer for Gilt-Edged Mining by 2 weeks, to 8 February 2000.

Diamond Rose (17 January 2000)

Shares in Diamond Rose more than doubled (from 8.5 cents to 14 cents) on news the company had made a "major breakthrough" in its diamond exploration program in WA. The company's laboratory had identified "weathered grains of kimberlite which indicate the presence of at least one kimberlite pipe" at the Upper Beta Creek project.

Gawler Gold (17 January 2000)

RESIGNATION OF DIRECTOR

The Board of Directors of Gawler Gold and Mineral Exploration NL ("Gawler Gold") wishes to advise that the Company’s Managing Director, Mr. Carl Layden, has advised that, effective as from January 31, 2000, he will not be seeking to renew his employment contract with the Company. Mr. Layden has indicated that he will resign as a Director of Gawler Gold as from that date. Mr. Layden has also advised that, following his resignation, he will maintain his association with the Company in the short to medium term and will provide his services to Gawler Gold via a mutually-agreeable consultancy arrangement.

NEW OPPORTUNITIES

As with many smaller mining companies currently listed on the Australian Stock Exchange ("ASX"), Gawler Gold has been approached by a number of stockbrokers and individuals with introductions to a wide variety of investment opportunities in the internet and "hi-tech" related arenas. Further developments, should they occur, will be disclosed to the Market as soon as possible in accordance with the requirements of the ASX. For additional information, click here.

Gold (17 January 2000)

Demand for gold in India is set to rise as their economy improves and disposable income increases. An analyst at gold trading house Ravi Vasantraj said he expects a 15% rise in demand in 2000.

Lakes Oil (17 January 2000)

ACTIVITIES IN PEP 137 - ONSHORE GIPPSLAND BASIN

North Seaspray - 3
As foreshadowed in the Company’s 1999 Annual Report, the Directors of Lakes Oil N.L. ("Lakes") resolved late last year to proceed with the drilling of the North Seaspray prospect in PEP 137. The site for the new well, to be named "North Seaspray - 3", is located some 25 kilometres south-south-east of the township of Sale in Gippsland, Victoria.

The well is located updip of "North Seaspray - 1", a well drilled by an Arco / Woodside joint venture in 1962, which flowed gas to surface in a two hour test. The flow rate was not measured, but results from gas analysis revealed a composition of 66.9% methane, 20.6% ethane, 8.3% propane and 4.2% higher homologues. The gas flowed from the Golden Beach formation located below the traditional target (the Latrobe section).

Following a review of the seismic results, and subject to the availability of a suitable drill rig, it is proposed that North Seaspray - 3 will be spudded (commenced) in late February / early March 2000. For details, click here.

Nickel (17 January 2000)

According to AME Mineral Economics, nickel production costs are set to fall by 11% over the next 4 years as a new cost structure becomes established. Low-cost production from laterites is set to surge and the average cash nickel production cost in 2002, net of credits, will have fallen to US$1.60/lb in real (1999) terma, a drop of 31% from 1993.

Oil (17 January 2000)

Crude oil prices surged to more than US$28.00/barrel, the highest level in 9 years, as evidence grew that OPEC members would extend production cuts beyond 20 March. The OPEC summit, initially planned for the end of March in Caracas, has been postponed until the end of September.

Resolute Resources (17 January 2000)

FINAL SETTLEMENT OF GOLDEN PRIDE ACQUISITION

The Directors are pleased to announce Resolute has settled with Ashanti Goldfields Company Limited a deferred payment of US$6million in respect of the acquisition of the remaining 50% interest in Golden Pride. The US$20million acquisition was funded by a cash backed US$14million debt facility, with the deferred payment of US$6million being funded partially by cash and partially via the issue of 6,500,000 A$1.00 convertible notes.
The outstanding operating performance of the Golden Pride Mine has continued into the December 1999 Quarter, with the production of approximately 57,500 ounces (September 1999 Quarter: 39,314 ounces) at a cash cost estimated to be US$150 /oz (September 1999 Quarter: US$193 /oz).

Sedimentary Holdings (17 January 2000)

Drilling at the Rose's Pride prospect (3km north of the high-grade find at Klondyke) at the Cracow project in Qld has encountered significant gold, including 14m @ 15.0 g/t Au and 13m @ 7.4 g/t Au. The Company said these results extended the previously reported finds from the area below old workings at Rose's Pride.

Shell (17 January 2000)

Shell and US e-commerce company Commerce One have struck an alliance to set up an Internet site to allow oil, gas and chemicals to be traded on-line. They hope to have the site operational by June.

Friday 14th January 2000 (Close of Business)

All Ords 3131.6 +35.8
Dow Jones 11,722.98 +140.55

All Resources 1406.7 +5.2 S&P 500 1465.15 +15.47

All Mining 760.7 +1.1 Nasdaq 4064.27 +107.06

All Gold 884.3 +1.6 FTSE 100 6658.20 +126.70

Energy 1358.8 +18.3 Nikkei 18,956.5 +123.2

All Industrials 5368.3 +69.7 Gold - spot US$283.40 -0.50

A$ = US66.64c -0.11 Silver - spot US$5.11 unch

A$ = 70.44yen -0.37 Platinum - spot US$420.00 unch

A$ = 0.659Euro +0.008 Bridge CRB Index 208.01 +0.99

US 30-Year Bond 6.688% +0.049 Crude Oil (NYMEX) US$27.14 +1.22

Live Quotes & Charts - Australia

24 Hour Spot Gold Price

Australian Gas Light Co (15 January 2000)

AGL has purchased South Australia's ETSA Power retail electricity business for $175 million - from Cheung Kong Infrastructure Holdings and Hongkong Electric Holdings.

Macmin (15 January 2000)

NEW BRITAIN PORPHYRY COPPER/GOLD PROJECTS PNG

Cyprus Amax has spent in excess of $500,000.00 on exploration on the Projects and their main results/conclusions are:
At Simuku one grab sample returned 210g/t Au.
Most of the dacite porphyry intrusive at Simuku is mineralised by copper. Based on a map by Cyprus Amax, MACMIN estimates that the volume of such copper mineralisation, at an average grade of 0.35% Cu, exceeds one billion tonnes, and that within such a large volume it is highly likely that significant high-grade zones exist.
At Mt Nakru the widespread occurrence of mineralised (up to 32g/t Au) lithic breccia clasts in colluvium suggest potential for the discovery of a significant bedrock source of hypergene gold mineralisation.
Not withstanding the above results, and as a result of a merger with Phelps Dodge, Cyprus Amax is to withdraw from New Britain Joint Venture (Mt Nakru, Simuku and Whiteman Range Projects). Cyprus Amax do not retain any equity in these Projects.
Cyprus Amax are not withdrawing because of exploration results but because the joint venture no longer fits within Phelps Dodge investment portfolio. The withdrawal does not reflect on the discovery potential of the tenements, which was enhanced by the Cyprus Amax exploration. For details, click here.

Saracen Mineral Holdings / Exodus Minerals / Black Range Minerals (15 January 2000)

Saracen is to terminate its management agreement (corporate and technical skills) with Exodus and Black Range, effective 1 April. Saracen will also terminate the contract of Dr Aliatair Cowden, who became managing-director od-f the Saracen Group last January.
Saracen will retain management of Westgold Resources and Carpenter Pacific Resources.

Shell Australia / United Energy (15 January 2000)

Shell Australia may use its name to market energy to households in a JV with Woodside and United Energy, a Victorian gas and electricity retailer.

WMC (15 January 2000)

Production Overview - December Quarter

Copper & Uranium
Copper production at Olympic Dam Operation was 45,085 tonnes. Throughput in the hydrometallurgical
processes was being progressively increased during the quarter to reach full production capacity, however
disruptions from a spillage in the anode furnace and a fire in the Copper solvent extraction plant prevented the
integrated plant achieving sustained output at its new design rate of 200,000 tonnes per year. Investigations into
the two separate incidents are underway, with repairs to the copper solvent extraction plant expected to be
completed during the June quarter. During this time Electrowon copper production representing about 10 per cent
of total output will be restricted to approximately half the normal rate.

The company originally planned to produce 206,000 tonnes in 2000, but this has been revised to 200,000 tonnes
as a consequence of the fire. The cost of repairs, estimated to be around $10 million, is covered by insurance.

Alumina (AWAC)
Alumina production was steady at 3.2 million tonnes during the fourth quarter. Production was affected by a
planned shutdown at San Ciprian which was brought forward from January to November, and the temporary
closure of St Croix due to Hurricane Jose and Hurricane Lenny. These interruptions were offset by increased
throughput at Wagerup following the recently completed expansion and higher production at Abalco. During
December a rail strike in Western Australia reduced production at the Kwinana alumina refinery by approximately
5,000 tonnes and delayed a customer shipment.

Nickel
Production of concentrate, matte and metal all increased during the December quarter with outputs of 26,559
tonnes of nickel-in-concentrate, 26,323 tonnes of nickel-in-matte and 15,555 tonnes of nickel metal.

At Kambalda Nickel Operations, mine production continued to be sourced from the higher grade Schmitz and
Coronet ore bodies. Production of nickel-in-concentrate was lower at 2,695 tonnes, due to depletion of ore
stocks accumulated earlier in the year. The new Skinner ore body is scheduled to take over from Schmitz at the
Lanfranchi mine complex in January as the primary ore source for Kambalda in 2000.

Production at Leinster Nickel Operations increased 12 per cent to 11,635 tonnes of nickel-in-concentrate due
to additional throughput from the operation of a suppplementary ball mill during the period.

At Mount Keith Operations, production increased nine per cent to a record 12,229 tonnes of
nickel-in-concentrate. Nickel recovery of 70 per cent for the period is the best achieved since start-up of Mount
Keith and reflects the benefits of recovery improvement initiatives implemented during the year.

Production of nickel-in-matte at the Kalgoorlie Nickel Smelter increased 10 per cent to 26,323 tonnes due to
improved plant availability and utilisation.

The Kwinana Nickel Refinery produced 15,555 tonnes of nickel metal for the period, representing the second
consecutive quarter of annualised rates over 60,000 tonnes.

Nickel Exploration
At Kambalda, further drilling at Wannaway mine has confirmed the continuity of a high-grade ore surface readily
accessible from existing infrastructure. A preliminary undiluted resource indicates 380,000 tonnes at 4.2 per cent
nickel. Additional drilling and re-interpretation has also upgraded the preliminary undiluted resource for the Miitel
orebody to over one million tonnes at 4.3 per cent nickel. WMC has entered into an agreement with Outokumpu
Mining Australia Pty Ltd providing WMC with the option to acquire the Cliffs nickel deposit, eight kilometres south
of Mount Keith. Evaluation drilling of the resource is underway.

Gold
Production at St Ives Gold was 113,462 ounces, up 11,453 ounces from the last quarter. The Santa Ana
open-cut mine continued to make a strong contribution along with increased production from north Orchin. The
Africa open-cut mine, developed in the previous quarter,was mined and completed in the period.

Production of 47,357 ounces at Agnew Gold Operation was affected by lower tonnage and grades at the
Crusader mine, offset by higher grades at Redeemer.

At Central Norseman Gold Corporation production was 14,770 ounces for the quarter, a slight decrease over
the previous quarter. Low-grade stockpiles continued to supplement high-grade sources.

Gold Exploration
At St Ives, additional exploration at the Lut prospect defined a 1.2 kilometre trend of mineralisation that is open
to both the north and south. Reconnaissance drilling at the Neptune prospect returned more encouraging results
which included 12 metres at 8.94 grams per tonne at the end of hole. Infill drilling is underway for both targets.
At Agnew, surface diamond drilling to infill the existing Emu underground resource commenced, with the first hole
intersecting 2.7 metres at 32.8 grams per tonne. Surface diamond drilling to extend and infill the Crusader mine
resource also began. Results included 5.1 metres at 36.5 grams per tonne, 9.8 metres at 56 grams per tonne,
1.3 metres at 31.9 grams per tonne and 5.9 metres at 38.9 grams per tonne. Extensional drilling at the Redeemer
mine continued, targeting satellite lodes to the north of the current operations.

Exploration

Exploration continued in Australia, Brazil, Canada, Chile, China, French Guiana and Indonesia.
Exploration Expenditure
Unaudited cash expenditure (for the quarter ended 31 December 1999) on grass roots exploration was $14.6
million. Of this amount, $8.3 million was spent in Australia and the remaining $6.3 million was spent overseas.

Projects

Queensland Fertilizer
Trial batches of di ammonium phosphate (DAP) fertilizer were produced as construction of the new Queensland
fertilizer facilities were completed on time and on budget during the quarter. All plant facilities at Phosphate Hill,
Mount Isa and Townsville are complete. Operations staff have assumed control of all facilities.

Commissioning of the Mount Isa, Phosphate Hill and Townsville facilities proceeded to plan during the quarter.
Sulphuric acid from the Mount Isa plant was used in phosphoric acid production.

The ammonia plant started to provide feedstock for the granulation plant commissioning in December. The
fertilizer rail and storage facilities in Townsville were tested, and commenced receiving trial deliveries of the first
DAP fertilizer shipment at the end of the quarter.

Wesmeg Gold (Nunavut, Canada)
Geological and ore resource modeling commenced during the quarter to incorporate the results from the 21,000
metres drilled during the 1999 Canadian summer. The model will be completed and reviewed, with an updated
mineral resource consisting of both inferred and indicated mineral resources available next quarter.

Developments

Technology
WMC has been supporting the development of a novel rock-cutting technology with the aim of obtaining a
cost-effective alternative to blasting in narrow vein mines. A prototype machine has now cut soft sandstone with
encouraging results. A program has commenced to cut harder rock.

Dome Resources (14 January 2000)

South African gold miner, Durban Roodepoort Deep, has made a $50 million cash-and-scrip offer (1 DRD share and 80 cents for every 9 Dome shares) for Dome. This equates to about 35 cents for each Dome share; Dome's share price jumped 20% to close at 30 cents. DRD acquired a 19.9% stake in Dome last September.

Macmin (14 January 2000)

TEXAS SILVER PROJECT QUEENSLAND

High-grade silver encountered in surface trenches with results to 1460g/t Ag and 2.10g/t Au over 5m interval; 406g/t Ag over 40m interval. This trench has discovered the surface exposure of the high grade ore zone at the Texas Project.

An 80m long trench or bench, just to the west of the summit of Twin Hills, returned an average silver grade of 216g/t Ag over the entire trench. A 40m zone averaged 406g/t Ag and including 5m at 1460g/t Ag. These are by far the highest grade surface silver results ever encountered at Texas.

The main significance of the trench and hole 143 is that the high-grade mineralisation has now been traced further south than was previously known and the high-grade mineralisation is still open to the south. For details, click here.

Minotaur Gold / Pima Mining (14 January 2000)

1. ANDAMOOKA JOINT VENTURES
The Board of Minotaur Gold NL advises that the Company has entered into joint ventures with Billiton Exploration Australia Pty Ltd and Kelaray Pty Ltd (100% owned by Pima Mining NL) on Kelaray’s EL 2533 and with Billiton alone on Minotaur’s EL 2690, both located in the Andamooka area in central South Australia.
The Andamooka tenements are located some 60 kilometres ESE of Olympic Dam and are considered prospective for that style of mineralisation. Limited drilling on the tenement by earlier explorers intersected broad intervals of highly altered granites and volcanics exhibiting typical Olympic Dam "red rock" alteration and associated mineralisation. The altered rocks contain anomalous copper, gold, rare earths, fluorine and barium.

2. MUTOOROO DRILLING
The Board of Minotaur is also pleased to advise that a program of RC/diamond and reconnaissance aircore drilling is programmed to commence at Mutooroo (Billiton earning 51%) in the Broken Hill Block in late January.
The diamond drilling program is designed to test four target areas within a broad corridor in which extensive quartz-garnet and quartz-gahnite horizons ("lode rocks"), similar to those hosting the Broken Hill mineralisation, were defined. As previously announced, grab samples of these rocks returned up to 15.8% zinc (gahnite dominated), 6.3% lead and 31 g/t silver.

For additional information, click here.

Victoria Petroleum (14 January 2000)

Victoria Petroleum NL, as Operator for the PRA 436 Joint Venture, advises that the Cadart-1 exploration well is at a depth of 1,910 meters and coring ahead in 70mm NQ hole. In view of the slower drill rate, it has been decided to stop drilling at 1600hrs 13th January WST and run wireline logs. Following logging, it is anticipated that DST #2 will be carried out over the forthcoming weekend over open hole interval 1,619 metres to total depth, to ensure a full evaluation of the reservoir characteristics of this portion of the Cretaceous section.

Inco (13 January 2000)

Inco has postponed devbelopment plans for the large Voisey Bay nickel project in Newfoundland - the largest undeveloped nickel deposit in the world. Inco says it could not meet the canadian province's demand to process mined ore in the country.

Menzies Gold (13 January 2000)

Menzies has declined a 25% stake in Internet investment information provider Earnings.Com, Inc. after the 2 companies were unable to agree on a number of clauses. Menzies says it is already evaluating a number of other Internet-related proposals.

Newcrest Mining (13 January 2000)

There are concerns that Newcrest may have to abandon its Gosowong gold mine in Indonesia after a Muslim leader threatened to launch a holy war against it. The share price fell 18 cents to A$4.42.
Last week Newcrest said.." mining operations at the Gosowong site are continuing generally as planned, but difficulties are being experienced with some logistics matters and alternative arrangements have been put in place as required."

Normandy Mt Leyshon (13 January 2000)

Report on Activities for the Quarter to 31 December 1999 - Overview

Mine production - 70,651 ounces (76,007 ounces)
Gold sales - 68,832 ounces (76,695 ounces)
Cash margin - $252 per ounce ($283 per ounce)
- net average realised gold price $542 per ounce ($541 per ounce)
- total cash cost $290 per ounce ($258 per ounce)
No debt, cash and bullion at 31 December 1999 - $82.6 million (unaudited)
Hedge book mark-to-market value $17.2 million (unrealised)
Australian Gold Council - Stock Exchange Gold Index inclusion from April 2000
Financial results for the three months and six months to 31 December 1999 will be released on 14 February 2000

Normandy NFM Limited (13 January 2000)

Report on Activities for the Quarter to 31 December 1999 - Overview

Record mine production - 86,574 ounces (64,986 ounces)
Gold sales - 86,131 ounces (63,225 ounces)
Cash margin - $241 per ounce ($250 per ounce)
- net average realised gold price $555 per ounce ($607 per ounce)
- total cash cost $314 per ounce ($357 per ounce)
Net debt position at 31 December 1999
- $26.5 million (unaudited)
Ground Rush, inferred resource calculated at 465,000 ounces
Australian Gold Council - Stock Exchange Gold Index inclusion from April 2000
Financial results for the three months and six months to 31 December 1999 will be released on 11 February 2000

Vanadium (13 January 2000)

The lack of an effective electricity storage medium has long been the Achilles heel of the power generation industry, but this problem may be a thing of the past thanks to the Vanadium Redox Battery. Owned and marketed worldwide by listed Australian company Pinnacle VRB and developed at NSW University, the VRB system can be recharged virtually indefinitely with no degradation, uses recyclable plastics instead of heavy metals and needs only a low-tech manufacturing process. For more information, click here.

BHP (12 January 2000)

The Broken Hill Proprietary Company Limited (BHP) today announced BHP Petroleum and its partners in North Sea Block 9/8a have received approval from the UK Department of Trade and Industry to develop the Keith oil field.
Keith is located 320km north east of Aberdeen and lies close to the BP Amoco-operated Bruce oil field, in which BHP Petroleum has a 16 per cent equity. The Keith development is consistent with BHP’s efforts to deliver value enhancements from existing and new assets by exploiting near field potential.
The subsea development of Keith will involve the re-use of a suspended appraisal well, 9/8a-14, which will be tied back some 7km to the Bruce Western Area Development (WAD). This single well will access around 15 million barrels of oil equivalent of proved and probable reserves (4.8 mmboe net to BHP) with capital expenditure estimated at around A$62 million (A$19 m net BHP). Drilling activity associated with well re-entry and completion is scheduled to begin in the third quarter 2000 with first oil targeted for the end of the year.

Brandrill (12 January 2000)

A $75 million contract at GCM's Bronzewing McClure gold operation in WA has increased Brandrill's forward order book to a record $202 million. The share price jumped 20% to 40 cents.

Durban Roodepoort Deep (12 January 2000)

The Brown's Creek gold mine (70,000 oz/yr) in NSW appears to have been lost to underground flooding. In late December a scheduled mine blast pierced an underground water source, flooding the mine. Water was still flowing into the mine and had filled it to within 12m from the surface. All mining and milling operations would stop until pumping tests were carried out.

An exp[loration program on the Ferndale project, 15km from Browns Creek, would be completed in 6-12 months and hopes were being pinned on a mine similar in size to Browns Creek.

Macmin (12 January 2000)

TEXAS SILVER PROJECT QUEENSLAND

Drill assay results from latest Texas Silver Project holes returned the highest silver results to date with assays to 3020g/t silver over 2m in Hole 133. In addition, many wide, high-grade silver drill intersections were received, such as surface to 28m (entire hole) in hole 138 of 436g/t Ag, including 8m at 922g/t Ag. The last or bottom of hole 2m sample contained 361g/t Ag indicating likely continuation to depth. Results from a further 30 holes are still pending.
The project is approximately three weeks ahead of schedule with the Mining Lease application and EMOS (Environmental, Management, Overview, Strategy) being lodged with Queensland Department of Natural Resources on January 7^th, 2000.
The first water storage dam was completed in association with a local landowner.

The Texas Silver Project continues to make steady development progress as it moves toward silver production that is planned for the last quarter of 2000. The Project is located approximately 200 km SSW of Brisbane, Queensland, Australia. Feasibility studies are in progress for the development of a silver heap leach mine that is based on an Inferred Resource of 35M ozs silver, with a Probable Reserve (within the resource) of 8.6M ozs of silver. In addition there are also minor gold credits. For details, click here.

Michelago Resources (12 January 2000)

Michelago is pleased to advise that a general meeting of shareholders held at 10.00am today approved the proposed E4fax acquisition, terms of which were outlined in the Company’s previous releases.

Settlement of the transaction is expected to be completed within one week, with the issue of 9.4 million fully paid, ordinary shares in the Company to Resource Capital Australia Pty limited (6,900,000) and Spinifex Computing Pty Limited (2,500,000). Spinifex also receive a cash payment of $150,000.00.

Attached is a Form 3B New Issue Announcement in relation to the transaction. ASX is currently considering what escrow restrictions, if any, are to be placed on the shares.

Michelago’s proposed change of status from an "NL" company to a "Limited" company is expected to be finalised next week.

Mineral Deposits Ltd (12 January 2000)

HIGHLIGHTS - Quarterly Report for the Period Ended 31 December 1999

The fifth Annual General Meeting of the company was held in Melbourne on Wednesday, 24 November 1999. All four resolutions presented at the meeting were passed by shareholders. Under a Special Resolution, the company will retire a loan of $9.2 million to New Hampton Goldfields Limited ("NHG") by the issue of 30,595,817 shares in Mineral Deposits Limited ("MDL") at an issue price of 30 cents per share. NHG then held 43,028,860 shares representing 71.5% of the expanded issued share capital.
At the Annual General Meeting of NHG held on Monday, 20 December 1999, NHG shareholders passed a resolution to distribute the entire holding in MDL to existing NHG shareholders on a pro rata basis. The distribution of MDL shares was scheduled to be completed by Wednesday, 12 January 2000.
For the half-year ended 31 December 1999, Mineral Deposits (Operations) Pty Ltd reported an operating profit of $55,411. The MDL group registered an unaudited preliminary loss of $782,278.
Output was below plan for the quarter, reflecting lower grades in the months of October and November:

December Quarter

Actual
Forecast

Sand Treated (tonnes)
2,149,908
2,330,640

Rutile (tonnes)
2,863
3,640

Zircon (tonnes)
894
1,298

A new exploration licence (5653) was granted on 5 December 1999. The licence abuts the northern and southern boundaries of the Fullerton site.

CORPORATE

Debt to Equity Conversion

By a series of announcements commencing 3 September 1998, MDL advised that it had acquired the integrated mineral sands operations of the BHP group at Hawks Nest in New South Wales (now known as Mineral Deposits (Operations) Pty Ltd) ("MDO") for a consideration of $8.7 million.

A related party, NHG, which owned 42% of the company's issued share capital, since provided financial accommodation to MDL in the form of loans and guarantees to assist with the acquisition of the mineral sands operation and its working capital needs until it secured its first sales under our ownership. Disclosure of these arrangements was made in recent quarterly reports and the financial statements of the respective companies as at 30 June 1999.

Given that MDO has secured significant overseas sales contracts for its rutile and zircon (thereby ensuring its immediate viability), the question of retirement of the loan of $9.2 million made to the company by NHG was addressed by the boards of the respective companies. It was agreed that all of the debt be converted to equity in MDL to strengthen its capital base SUBJECT TO receipt of an independent expert's report (section 623) by the company that such a proposal be considered "fair and reasonable" to its non-associated shareholders.

The board of MDL commissioned PricewaterhouseCoopers Securities Ltd to prepare a section 623 report on this subject which has concluded that the conversion of debt to equity would be fair and reasonable to the company's non-associated shareholders. A resolution to approve the debt to equity conversion was passed by shareholders in MDL at the company's Annual General Meeting on 24 November 1999. Receipt of the section 623 report concerned occurred on 12 October 1999.

The conversion expanded the company's issued share capital to 60,197,822 fully paid ordinary shares by the issue of an additional 30,595,817 such shares to NHG at 30 cents per share.

As a result, NHG's holding rose from 12,433,043 shares (42%) to 43,028,860 shares (71.5%).

NHG Share Distribution

In terms of an announcement to the market dated 19 October 1999, the directors of NHG have resolved to distribute in-specie to its shareholders by way of a return of capital the entire 43,028,860 shares that it would hold in MDL. At the Annual General Meeting of NHG on Monday, 20 December 1999, shareholders approved the distribution on a pro rata basis. The return of capital (in-specie distribution of MDL shares) was scheduled to be completed by Wednesday, 12 January 2000.

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

Pilbara Mines (11 January 2000)

Pilbara listed successfully on the ASX yesterday; the shares closed at the issue price of 20 cents.

Resolute (11 January 2000)

The Directors are pleased to announce Resolute has settled with Ashanti Goldfields Company Limited a deferred payment of US$6million in respect of the acquisition of the remaining 50% interest in Golden Pride. The US$20million acquisition was funded by a cash backed US$14million debt facility, with the deferred payment of US$6million being funded partially by cash and partially via the issue of 6,500,000 A$1.00 convertible notes, details of which are attached.
The outstanding operating performance of the Golden Pride Mine has continued into the December 1999 Quarter, with the production of approximately 57,500 ounces (September 1999 Quarter: 39,314 ounces) at a cash cost estimated to be US$150 /oz (September 1999 Quarter: US$193 /oz).

Sipa Resources International (11 January 2000)

Sipa has entered into an exclusive agreement with Rio Tinto to gain access to Rio's extensive Australian geochemical and mineralogical databases. Sipa has also linked up with Alfred Eggo, an industry-leading expert in the collation, processing and interpretation of large geoscientific databases.

Kimberley Oil (8 January 2000)

Kimberley has signed an agreement with BP Australia for the monthly sale of oil from its EP129 JV project in WA's Canning Basin. The initial payment for all of the oil in the tank as at the end of December, 1999 is worth more than $800,000 net to Kimberley. Kimberley's share price jumped 23% to 8 cents.

Mt Burgess Gold Mining Co (8 January 2000)

HIGHLIGHTS - QUARTERLY REPORT - 31 DECEMBER 1999

Mount Weld (gold)
Native Title negotiations successfully concluded on Mount Weld exploration licence with no further negotiations required in the event of a discovery leading to mining. A 10,000 metre RAB/Aircore drill programme to commence in January.
Telfer(gold/base metals)
New gold/base metal anomaly discovered adjacent to Chicken Ranch prospect (Joint Venture with Normandy Gold Pty Ltd).
Tay (gold, nickel)
Further geochemical sampling results confirm the existence of a strong coincident gold nickel anomaly at Vauni now ready for drill testing. A 5000 metre RAB/Air core drill programme to commence this quarter.
Tsumkwe – Namibia (diamonds)
Interpretation and results pending from ground magnetometer survey and loam sampling completed during the quarter.

Newcrest Mining (8 January 2000)

The Gosowong gold mining project located on the island of Halmahera in Indonesia is operated by Newcrest’s subsidiary, PT Nusa Halmahera Minerals (PTNHM). Newcrest owns 82.5% of PTNHM with 17.5% being held by PT Aneka Tambang.
The current situation of civil unrest on the island is being closely monitored by PTNHM management.
PTNHM is not involved in the unrest in any way, and does not intend to become involved. Local rumours that a helicopter leased to PTNHM has been used to ferry arms on behalf of conflicting parties are specifically denied by PTNHM. Indonesian Army and other government personnel have used a helicopter leased to PTNHM on several occasions in conjunction with their legitimate peacekeeping activities. The helicopter may therefore have been seen in the vicinity of some problem areas with its usage being misinterpreted.
Mining operations at the Gosowong site are continuing generally as planned, but difficulties are being experienced with some logistics matters and alternative arrangements have been put in place as required.

Victoria Petroleum (8 January 2000)

Victoria Petroleum NL, as Operator for the PRA 436 Joint Venture, advises that the Cadart-1 exploration well is at a depth of 1,787 meters and running in with a new bit in preparation to core ahead in 70mm NQ hole. The proposed total depth of the well has been extended to 2,000 metres.
The live oil and gas shows seen to date in fractures in the seal rocks are considered encouraging for the Gouaro Prospect as they confirm the presence of oil and gas migrating through the Gouaro Prospect at the Cadart-1 location.

Friday 7th January 2000 (Close of Business)

All Ords 3044.5 +14.4
Dow Jones 11,522.56* +269.30

All Resources 1452.6 +53.1 S&P 500 1441.47 +38.02

All Mining 770.5 +24.9 Nasdaq 3882.62 +155.49

All Gold 904.4 +10.3 FTSE 100 6504.80 +57.60

Energy 1338.0 +13.6 Nikkei 18,193.1 +25.14

All Industrials 5152.6 -11.7 Gold - spot US$281.50 +0.50

A$ = US65.55c +0.11 Silver - spot US$5.16 +0.03

A$ = 69.01yen +0.05 Platinum - spot US$398.50 +10.50

A$ = 0.637Euro +0.003 Bridge CRB Index 202.70 +0.77

US 30-Year Bond 6.537% -0.036 Crude Oil (NYMEX) US$24.22 -0.56

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Alinta Gas (7 January 2000)

The privatisation of WA's Alinta moves ahead today when companies interested in bidding for 45% of the gas utility are to register.

Caledonian Pacific (7 January 2000)

London-based exploration group, Coronation International Mining Corp, says it will make a 19 cents/share bid aimed at securing 60% of CP's shares. The key to success lies with CP's chairman, Terry O'Leary, who holds 48% of CP.

CP is to start drilling for gold at its Nakety tenement in New Caledonia in 2 weeks.

Gilt-Edged Mining / Croesus Mining (7 January 2000)

GEM has formally rejected the $20 milion takeover bid (30 cents/share) by Croesus - saying the offer 'seriously undervalues the company's assets'. An independent expert's preferred value of GEM's shares is 48.8 cents.

North Ltd (7 January 2000)

North Limited has issued a Status Report on Northparkes Mines following the tragic accident on Wednesday, November 24:

Northparkes is continuing to produce copper/gold concentrate from stockpiles of lower grade open cut ore. The mine has stockpiles that can maintain feed to the mill until mid-February.
The underground operation remains closed. North Limited expects to be able to make a decision on recommencement of the underground operation before the end of January.
Detailed inspections of the underground, as part of inquiries by NSW Government agencies and North Limited Northparkes, have not to date identified any significant damage to the underground infrastructure.
The three investigations into the accident are continuing and will carry on beyond a decision on recommencing underground operations.

The investigations - by the Department of Mineral Resources (DMR), by the NSW Coroners' Office and by North Limited (North) - are independent of each other but co-operating.
Investigators from the DMR and North teams will return to the mine site in the week commencing January 10 to continue
inquiries.

North Limited has appointed an independent expert to facilitate a comprehensive safety investigation. He is Professor Jim Joy, the director of the Minerals Industry Safety and Health Centre, at the University of Queensland. He is heading a nine-person team of North Limited and independent experts.

Petroz (7 January 2000)

Petroz advises that the ZOCA 91-12 JV has agreed to drill a sidetrack well from Elang-1 aimed at accessing updip potential. The well is scheduled for drilling in January-February and will take approx. 1 month to complete.
If successful, the operation will result in a material increase in reserves and deliverability and extend the economic life of the Elang/Kakatua/Kakatua North Fields.

Ross Mining (7 January 2000)

The torching of a cabinet minister's house and a shoot-out at the Gold Ridge mine may mark the return of rebel activity in the Solomon Islands.

WMC (7 January 2000)

WMC Limited advises that Mr Peter John Horton has been appointed Company Secretary of WMC Limited, in place of Mr Alan Knights, with effect from 1 January 2000.

Pasminco (6 January 2000)

Pasminco announced it had temporarily closed a refinery column at its Cockle Creek smelter to allow repairs following the discovery of a leakage of zinc from the top section of the column.
The leak was discovered the week prior to Christmas however attempts to stop the leak were unsuccessful. As a result of this failure, refinery output will be limited to approximately 50% - 140 tonnes per day - of refined metal capacity until an alternative column can be brought on-line in about three weeks. Impact on production will be minimal with the shortfall expected to be recovered during the next two months.
The refinery is expected to return to full capacity by 23 January.

Macmahon Holdings (5 January 2000)

Contract miner and civil engineering firm Macmahon is subject of a takeover offer from LJFT Ltd - a Melbourne-based private investment company. LJFT intends to issue shares at 30 cents and options expiring before 31 December, 2002 to allow it to offer Macmahon shareholders 1 LJFT share and 1 LJFT option for every 1 Macmahon ordinary share. The bid values the company at $47 million.

Woodside Petroleum (5 January 2000)

Woodside has acquired interests (ranging from 12.5% to 33%) in 43 additional deepwater exploration blocks in the Gulf of mexico for $39 million - from Marathon Oil Co. Woodside expects to drill within the year.

Burton Coal (4 January 2000)

The board of RAG (who purchased the mine from Portman Mining in December) will study plans for an underground expansion of the $200 million Burton coking coal mine in Qld. An undergroung operation will offset a reduction in output from the open cut.

Phillips Oil / Santos / Petroz (4 January 2000)

Phillips is to spend US$6.5 milion in mid-January drilling a new well in the Elang Kakatua field in the Timor Sea Zone of Co-operation. The JV partners plan to enter the existing Elang-1 well and drill a sidetrack well to access an untapped reservoir. Petroz announced in August that oil production from the field had fallen rapidly - by nearly 7000 barrels/day - to about 25,000 barrels/day. Without additional drilling/reserves, the small Elang-Kakatua field may prove uneconomic.

Roc Oil (3 January 2000)

Roc Oil has announced that, following the successful development of its 100%-owned Saltfleetby Gas field in the UK, production of oil equivalent jumped 4-fold to 12,000 barrels/day. Saltfleetby came on stream in mid-December and is producing 50 million cu ft/day of gas and an estimated 1700 barrels/day of condensate from 4 wells.

Portman Mining (3 January 2000)

Portman will continue to progress the development of its Lithgow Silicon Project in New South Wales and its iron ore project at Koolyanobbing in Western Australia after finalising the sale of its 95% interest in the Burton Coal Project to German coal group RAG Coal International.
The settlement marks an important milestone for Portman, which emerges from the transaction with A$130 million in cash and no debt - equating to a net cash backing of 72 cents per share.
As previously advised, Portman will now commence an on-market share buy-back program, which will enable the Perth-based diversified raw materials and resource investment group to acquire up to 10% of its issued capital of 181 million shares.
Portman’s growth plans will initially focus on development of the Lithgow Silicon Project and progressing the significant expansion of its iron ore business in Western Australia based on its existing Koolyanobbing operations augmented by new production from the Mt Jackson and Windarling lease areas.

Friday 31st December 1999 (Close of Business)

All Ords 3152.5* closed
Dow Jones 11,497.12* +44.26

All Resources 1416.9 closed S&P 500 1469.25 +4.78

All Mining 768.7 closed Nasdaq 4069.31* +32.44

All Gold 947.9 closed FTSE 100 6930.20 closed

Energy 1353.4 closed Nikkei 18,934.34 +123.76

All Industrials 5403.4 closed Gold - spot US$288.80 -2.40

A$ = US65.70c +1.26 Silver - spot US$5.41 +0.04

A$ = 67.17yen +1.26 Platinum - spot US$440.00 -5.00

A$ = 0.648Euro +0.008 Bridge CRB Index 204.31 -0.83

US 30-Year Bond 6.477% +0.044 Crude Oil (NYMEX) US$25.60 -0.87

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Current Mining and Exploration News

Mining News - December 1999 - Click Here

Mining News - November 1999 - Click Here

Mining News - October 1999 - Click Here

Mining News - September 1999 - Click Here

Mining News - August 1999 - Click Here

Mining News - July 1999 - Click Here

Mining News - June 1999 - Click Here

Mining News - May 1999 - Click Here

Mining News - April 1999 - Click Here

Mining News - March 1999 - Click Here

Mining News - 1 September 1998 to 28 February 1999 - Click Here

Archives - Pre October 1998 - Click Here

Disclaimer:
The information contained in these pages serves as a guide only. Digital Reflections shall not be liable for any accidents, injury, irregularity, loss or damage caused by or arising as a result of information contained within this World Wide Web site.

Friday 28th January 2000 (Close of Business)
All Ords	3092.1	+8.7	Dow Jones	10,738.87	-289.15
All Resources	1303.4	-12.4	S&P 500	1360.16	-38.40
All Mining	693.9	-8.5	Nasdaq	3887.07	-152.49
All Gold	829.4	+2.4	FTSE 100	6375.60	-65.40
Energy	1363.4	+6.4	Nikkei	19,434.7	+225.0
All Industrials	5367.5	+27.7	Gold - spot	US$282.80	-4.00
A$ = US63.21c		-2.29	Silver - spot	US$5.25	-0.08
A$ = 67.67yen		-0.99	Platinum - spot	US$471.00	+12.00
A$ = 0.648Euro		-0.015	Bridge CRB Index	210.72	-0.86
US 30-Year Bond	6.431%	-0.094	Crude Oil (NYMEX)	US$27.22	-0.10
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Friday 21st January 2000 (Close of Business)
All Ords	3103.4	-33.7	Dow Jones	11,251.71	-99.59
All Resources	1369.1	-31.3	S&P 500	1441.36	-4.21
All Mining	740.7	-14.9	Nasdaq	4235.40*	+45.89
All Gold	889.5	-13.3	FTSE 100	6346.30	-2.40
Energy	1407.7	-20.3	Nikkei	18,878.0	-129.9
All Industrials	5339.5	-45.2	Gold - spot	US$288.60	+0.60
A$ = US66.33c		-0.23	Silver - spot	US$5.20	-0.02
A$ = 69.51yen		-0.56	Platinum - spot	US$442.00	+3.00
A$ = 0.657Euro		+0.002	Bridge CRB Index	211.51	-0.83
US 30-Year Bond	6.709%	-0.018	Crude Oil (NYMEX)	US$28.20	+0.23
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Hole No	Drill Section Metres North	Intersection From/To (m)	Silver Analysis (g/t)	(1) Last Assay in Hole ((g/t)
145	4208	0-30	154	30
144	4225	0-30	170	75
143	4231	0-30	217	182
139	4237	0-30	225	394
138	4243	0-28 16-24	436 922	361
137	4243	0-30 inc 0-12	349 625	48
133	4249	0-30	391	650
85	4262	12-30	226	35
120	4279	6-30	163	193
92	4287	6-30	178	113

Friday 14th January 2000 (Close of Business)
All Ords	3131.6	+35.8	Dow Jones	11,722.98	+140.55
All Resources	1406.7	+5.2	S&P 500	1465.15	+15.47
All Mining	760.7	+1.1	Nasdaq	4064.27	+107.06
All Gold	884.3	+1.6	FTSE 100	6658.20	+126.70
Energy	1358.8	+18.3	Nikkei	18,956.5	+123.2
All Industrials	5368.3	+69.7	Gold - spot	US$283.40	-0.50
A$ = US66.64c		-0.11	Silver - spot	US$5.11	unch
A$ = 70.44yen		-0.37	Platinum - spot	US$420.00	unch
A$ = 0.659Euro		+0.008	Bridge CRB Index	208.01	+0.99
US 30-Year Bond	6.688%	+0.049	Crude Oil (NYMEX)	US$27.14	+1.22
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	December Quarter
	Actual	Forecast
Sand Treated (tonnes)	2,149,908	2,330,640
Rutile (tonnes)	2,863	3,640
Zircon (tonnes)	894	1,298

Friday 7th January 2000 (Close of Business)
All Ords	3044.5	+14.4	Dow Jones	11,522.56*	+269.30
All Resources	1452.6	+53.1	S&P 500	1441.47	+38.02
All Mining	770.5	+24.9	Nasdaq	3882.62	+155.49
All Gold	904.4	+10.3	FTSE 100	6504.80	+57.60
Energy	1338.0	+13.6	Nikkei	18,193.1	+25.14
All Industrials	5152.6	-11.7	Gold - spot	US$281.50	+0.50
A$ = US65.55c		+0.11	Silver - spot	US$5.16	+0.03
A$ = 69.01yen		+0.05	Platinum - spot	US$398.50	+10.50
A$ = 0.637Euro		+0.003	Bridge CRB Index	202.70	+0.77
US 30-Year Bond	6.537%	-0.036	Crude Oil (NYMEX)	US$24.22	-0.56
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Friday 31st December 1999 (Close of Business)
All Ords	3152.5*	closed	Dow Jones	11,497.12*	+44.26
All Resources	1416.9	closed	S&P 500	1469.25	+4.78
All Mining	768.7	closed	Nasdaq	4069.31*	+32.44
All Gold	947.9	closed	FTSE 100	6930.20	closed
Energy	1353.4	closed	Nikkei	18,934.34	+123.76
All Industrials	5403.4	closed	Gold - spot	US$288.80	-2.40
A$ = US65.70c		+1.26	Silver - spot	US$5.41	+0.04
A$ = 67.17yen		+1.26	Platinum - spot	US$440.00	-5.00
A$ = 0.648Euro		+0.008	Bridge CRB Index	204.31	-0.83
US 30-Year Bond	6.477%	+0.044	Crude Oil (NYMEX)	US$25.60	-0.87
Live Quotes & Charts - Australia
24 Hour Spot Gold Price

	Current Mining and Exploration News
	Mining News - December 1999 - Click Here
	Mining News - November 1999 - Click Here
	Mining News - October 1999 - Click Here
	Mining News - September 1999 - Click Here
	Mining News - August 1999 - Click Here
	Mining News - July 1999 - Click Here
	Mining News - June 1999 - Click Here
	Mining News - May 1999 - Click Here
	Mining News - April 1999 - Click Here
	Mining News - March 1999 - Click Here
	Mining News - 1 September 1998 to 28 February 1999 - Click Here
	Archives - Pre October 1998 - Click Here

Company News

Anvil Mining (31 January 2000)

Australian Gas Light Co / Australian Pipeline Trust (31 January 2000)

Duketon Goldfields (31 January 2000)

East Coast Minerals / Legend Mining (31 January 2000)

Fraser Range (31 January 2000)

Hampton Hill Mining (31 January 2000)

Majestic Resources (31 January 2000)

Metex Resources (31 January 2000)

Optima Energy (31 January 2000)

Pilbara Mines (31 January 2000)

Aurora Gold (29 January 2000)

BHP (29 January 2000)

Croesus Mining (29 January 2000)

Energy Resources of Australia (29 January 2000)

Exco Resources (29 January 2000)

Golden Cross Resources (29 January 2000)

Highlands Pacific (29 January 2000)

Kainantu Joint Venture (HIG 100%, NM&M earning 50%)

Horizon Energy Investment (29 January 2000)

Kingstream Steel (29 January 2000)

Michelago Limited (29 January 2000)

Minotaur Gold (28 January 2000)

Ross Mining (29 January 2000)

Straits Resources (29 January 2000)

Coking Coal (28 January 2000)

Croesus Mining (28 January 2000)

Croesus Mining (28 January 2000)

Delta Gold (28 January 2000)

Goldfields / Gilt-Edged Mining (28 January 2000)

Novus Petroleum (28 January 2000)

Rio Tinto (28 January 2000)

Roper River Resources (28 January 2000)

Ross Mining (28 January 2000)

Santos (28 January 2000)

Sons of Gwalia (28 January 2000)

Strike Mining (28 January 2000)

Union Capital (28 January 2000)

Gold (27 January 2000)

Lynas Gold (27 January 2000)

Mincor Resources (27 January 2000)

Alkane Exploration (26 January 2000)

Amity Oil (26 January 2000)

AngloGold (26 January 2000)

Kidston Gold Mines (26 January 2000)

Newcrest Mining (26 January 2000)

Victoria Petroleum (26 January 2000)

Ashton Mining (25 January 2000)

BeMaX Resources (25 January 2000)

BHP (25 January 2000)

New Hampton Goldfields (25 January 2000)

North Limited (25 January 2000)

Pasminco (25 January 2000)

Portman Mining (25 January 2000)

Shield Equities (ex Leo Shield Exploration) (25 January 2000)

Titan Resources (25 January 2000)

Zimplats (25 January 2000)

Alkane Exploration (24 January 2000)

Beaconsfield Gold (24 January 2000)

Gold and Resource Development (24 January 2000)

Golden Heritage Mining (24 January 2000)

Marlborough Resources (24 January 2000)

Pacific Mining Corp (24 January 2000)

Alinta Gas (22 January 2000)

Beaconsfield Gold (22 January 2000)

Caledonian Pacific (22 January 2000)

Durban Roodepoort Deeps (22 January 2000)

Hill 50 Gold (22 January 2000)

Macmin (22 January 2000)

Pacific Mining Corp (22 January 2000)

Pasminco (22 January 2000)

LionOre / Dalrymple Resources (21 January 2000)

Macmin (21 January 2000)

Newcrest Mining (21 January 2000)

Rio Tinto (21 January 2000)

Woodside Petroleum (21 January 2000)

Woodside Petroleum (21 January 2000)

Climax Mining (20 January 2000)

Macmin (20 January 2000)

Normandy Mining (20 January 2000)

Kainantu Joint Venture
(HIG 100%, NM&M earning 50%)