Beaconsfield Gold (30 September 1999)

First Gold Pour

On Tuesday, the Beaconsfield Gold Mine produced its first gold bullion bar from high grade underground ore since the historic mine closed in 1914. Bar number 001 weighed a total of approximately 13.5 kg or 434 ounces. With an estimated gold purity of 98% (very high by industry standards as Beaconsfield gold contains little silver), the bar contained approximately 13.2 kg or 425 ounces of gold.

Treatment Plant Commissioning

Commissioning of the crushing, grinding, gravity gold recovery, sulphide flotation, bacterial oxidation and tailings disposal sections is now essentially complete. Commissioning of the remaining cyanidation and Merrill-Crowe circuits is well under way and should be complete by early October 1999. For more information, click here.

Lihir Gold (30 September 1999)

Lihir has played down speculation that a major producer had been amongst the buyers of the 95 million shares sold by Vengold Inc for $153 million. Speculation was that Placer Dome had increased its stake from the already held 58.3%. Placer has denied the speculation.

Minerals Council of Australia (30 September 1999)

Australia's mineral industry will mount a $25 million package to reform university education of mining engineers, metallurgists and geoscientists. The MCA has brokered the scheme 18 months after releasing a report which criticised universities for encouraging too many small, unviable departments ofering too many low-quality courses in the minerals area. The MCA will set up a Minerals Education Council to oversee creation of a "national, world-class sustainable minerals tertiary education system".

Lakes Oil (29 September 1999)

Acacia Resources (29 September 1999)

MAJOR UPGRADE OF WANDOO AND SUNRISE DAM

Acacia Resources Limited today announced a major upgrade of the Wandoo project, which would place Wandoo among the lowest cost large gold operations in the world.
The announcement follows an Acacia review of the substantial work completed by the project manager to date on the Wandoo feasibility study. Acacia’s review indicated that a future Wandoo operation could produce an average of 540,000 ounces of gold a year for over 20 years at an average cash cost of $250 (US$163) an ounce, and an average total cost of $305 (US$198) an ounce, with options identified and under review to further reduce costs.

Acacia also released the results of a study which confirmed the viability of expanding its Sunrise Dam operation to produce 320,000 ounces of gold a year for eight years at an average cash cost of $217 (US$141) per ounce, and upgraded the open pit reserves at the Cleo deposit by 25% to 2.1 million ounces.

Acacia Managing Director Michael Folie said that feasibility studies on both operations had been in progress for some time and that both were due to be finished over the next nine months.

Beaconsfield Gold (28 September 1999)

For photos of the first gold pour at the Beaconsfield Gold Mine, click here.

Central Kalgoorlie Gold (29 September 1999)

CKG announced it was raising $1.1 million to acquire a Californian wetsuit business.

Dome Resources (29 September 1999)

South African Durban Roodepoort Deeps has acquired a 19.9% stake in Dome, who operates the 80,000 oz/year Tolukuma gold mine in PNG. DRD paid $8.6 million or 30 cents/share.

Gold (29 September 1999)

The US gold price jumped a further US$26.00 overnight to US$307.90/ounce.

Impress Technologies (29 September 1999)

Impress Technologies Limited (ex-Merritt Mining) is pleased to announce the following Board and Management changes.
Mr Peter Andrews, previously in the role of Managing Director, has become the Executive Chairman and continues as Company Secretary.
Mr Chris Singleton, previously a Director, has become an Executive Director. Mr Singleton’s new role encompasses more marketing orientated responsibilities to further enhance and promote Impress’ information technology and communications investments.
Impress Technologies Limited are also delighted to announce the appointment of Mr Barksdale Brown in the newly created position of Business Development Manager. For details, click here.

YKR International Resources (29 September 1999)

Acacia Resources (28 September 1999)

Following the failure to come to an agreement for the proposed $1.3 billion merger to proceed, Acacia yesterday began legal action to stop Delta Gold from sending takeover documents to its shareholders.

Beaconsfield Gold (28 September 1999)

Beaconsfield has added a video clip of the Beaconsfield Gold Mine Project (about to commence production) to its web site. Click here for details.

Delta Gold / North (28 September 1999)

Delta is to buy out its partner North Ltd at the Kanowna Belle gold mine in WA for $90 million. The additional production from 100% ownership will lift Delta's annual gold output to 650,000 ounces, making it Australia's 4th-largest gold producer.

Gold (28 September 1999)

The Gold Index made its greatest 1-day gain in 10 years following a commitment from 15 European central banks to limit sales of gold reserves for the next 5 years - no more than 400 tonnes/year. The US gold price jumped US$13.50 to US$281.90/ounce. Many analysts now expect the price to break US$300.00/oz in the coming months.

Hargraves Resources / Minasco Australia (28 September 1999)

Under instructions from Hargraves Resources NL - due to completion of mining - Minasco is Auctioning ALL plant & equipment (TOTAL MINE DISPOSAL) from the Parkes Gold Project in NSW on 19 October (On Site). The Parkes gold plant comprises some excellent equipment that has been well maintained by Hargraves Resources during it's operational life. Considerable residual life remains in component equipment ensuring ongoing use for a number of years.

Newcrest Mining (28 September 1999)

Newcrest is confident of a continued improvement in its share price in 1999-2000 as it lifts gold output and increases profitability. Newcrest expects to increase its earnings before interest, tax, depreciation and amortisation to around $250 million in 1999-2000 from $128.7 million in 1998-99. There will be a substantial increase in production from the Gosowong mine in Indonesia.

Shell (28 September 1999)

Shell will reappraise the risk of investing up to $2 billion in the Timor Sea due to the conflict in East Timor.

Glengarry Resources (27 September 1999)

Drilling has commenced on 3 of its gold properties in the Charters Towers - Drummond Basin region of North Qld. About 8000 metres will be drilled by JV partners Normandy Mt Leyshon (at the Great Britain project), MPI Gold (at the Harvest Home project) and Homestake Gold of Australia (at the Lake Suttor project).

Grupo Mexico / ASARCO (27 September 1999)

Grupo, Mexico's biggest copper producer, has made an all-cash offer for ASARCO, valuing it at US$2.05 billion and topping Phelps Dodge's cash-and-stock offer.

Mount Burgess Gold Mining Co (27 September 1999)

Annual Report - Summary of Address By the Chairman

• Sale of its 50% share in the Red October Gold deposit to Sons of Gwalia for $14 million plus downstream royalties.
• At Telfer, a JV where Normandy Gold can earn a 51% interest, a substantial drilling program, to test a number of gold and base metal anomalies, is being conducted this field season.
• At Mount Weld, just east of Red October, a significant gepohysical anomaly of some 25km² has been delineated. Drilling will commence upon successful conclusion of Native Title negotiations.
• At Tay, drilling will shortly commence on the 11km-long Vauni anomaly (gold , nickel and vanadium)
• Involvement in Africa with the Tsumkwe diamond project in Namibia by way of a JV with Kimberlite Resources. Drilling and exploration work is currently in progress.

Nido Petroleum (27 September 1999)

Nido (40%-owned by Novus Petroleum) has acquired an option over 40% of the Zhongyuan onshore oil project in China. The field, in Henan Province, is being redeveloped with first oil production expected in mid-2000. Nido will receive 40% of the field's expanded production, or about 4400 barrels/day. Cost of the acquisition was US$500,000.

St Barbara Mines (27 September 1999)

St Barbara has eased its financial situation by selling its mining fleet for $11.55 million.

Stuart Metals / Stuart Petroleum (27 September 1999)

Stuart Metals has raised $5.5 million through a 1-for-1 renounceable rights issue and changed its name to Stuart Petroleum. Earlier this year Stuart acquired 2 blocks (released by Santos) in the Cooper and Cooper-Eromanga Basins. Stuart has planned a 28-well program over the next 5 years. The main gas target is at Paning (near Moomba), where Stuart is targeting a resource from 13bcf to a best case scenario of 340bcf.

Wells Gold (27 September 1999)

Wells has applied for 38 exploration blocks in the Dundas mineral field, approx 40km south-east of the Maggie Hayes nickel deposit, in WA. It covers a section of the prospective (gold and nickel) Lake Johnston greenstone belt.

Zimplats (27 September 1999)

Limited trial box-cut work has commenced on the Ngezi platinum project in Zimbabwe. 300,000 tonnes of rock will be excavated in oreder to confirm the mining characteristics of the waste rock and platinum-bearing rock.

Caltex Australia (25 September 1999)

Caltex is examining a plan to pull out of direct petrol retailing in a move that could lead to its 1300 franchise sites being put up for sale.

Delta Gold / Acacia Resources (25 September 1999)

Delta has confirmed that it will not waive the minimum acceptance condition of its 1-for-1 scrip bid.

Petroz / Woodside (25 September 1999)

Petroz has sold its interests in the Bass Strait to Woodside for $5 milion, representing a book profit of $3.45 million to Petroz.

Resources Exploration (25 September 1999)

Resource Exploration plans to transform itself through a buy-out of Gosford to Sydney fast-ferry company Supershuttle. Supershuttle stakeholders will receive 43.92 million RE shares, plus 8 million options. In return, RE will own 100% equity.

Dome Resources (24 September 1999)

Gold miner Dome topped the turnover in share trading yesterday - 16.6 million shares with the closing price up 3 cents to 26 cents.

Dominion Mining / Western Metals (24 September 1999)

Dominion plans to acquire a 50% stake in the Hellyer Tailings project in Tasmania. It has agreed to fund a $5 million bankable feasibility study and in return gets half of an 11 million tonne tailings resource estimated to contain 1 million ounces of gold, 30 million ounces of silver and 300,000 tonnes of zinc. Dominion also has the right to buy ouy partner Western Metals which owns the operating Hellyer lead-zinc mine.

Gold (24 September 1999)

The gold price continued to firm amid expectations the IMF would not sell some of its gold to fund Third World debt relief programs, but would revalue a portion of its reserves and use the profits for its programs.

MIM (24 September 1999)

MIM posted a $50.1 million net loss for the year to 30 June (compared to a $80.4 million profit previously), mainly due to lower commodity prices and reduced output due to modernisation and expansion.
MIM is on the lookout for acquisitions, opportunities based on existing assets and exploration to provide large-scale and potentially long-life and low-cost mines.

Phelps Dodge (24 September 1999)

Phelps Dodge has increased its hostile takeover offer for Cyprus Amax Minerals and Asarco by 7.2% to US$2.82 billion in stock and cash.

Anaconda Nickel (23 September 1999)

Anaconda and Fluor Daniel are heading to court over plant and equipment failures at Anaconda's $1 billion Murrin Murrin nickel-cobalt mine in WA. Both companies yesterday filed counter claims against the other over responsibility for the repair and re-engineering of failed flash vessels.

Capricorn Resources (23 September 1999)

Capricorn, now Capco, has called for a suspension on the ASX pending the outcome of negotiations in relation to an agreement to acquire up to 50% of shares offered in a capital raising by e-commerce company b2b.net.

Energy Australia (23 September 1999)

Energy Australia has announced a gas supply deal with Duke Energy International in a move that will introduce competition to the NSW gas supply market and end the monopoly position of AGL. Duke will sorce the gas from Esso/BHP's Gippsland Basin gas fields.

Gold Sales (23 September 1999)

Despite a report from Germany that the IMF would sell 435 tonnes of gold to central banks to fund debt relief programs for third world countries, the gold price jumped another UIS$3.40 to US$264.00.

Pasminco (23 September 1999)

Pasminco expects to make a strong return to profitability in 1999-2000 - a firming zinc price, a tight reign on costs and a better operational base, will help boost earnings.
Weaker commodity markets and increased costs adversely affected Oasminco in 1998/99 when it posted a net loss of $8.3 million.

Santos (23 September 1999)

Standard & Poor's has lowered its long-term rating on Santos and its guaranteed subsidiary Santos Finance to BBB-plus from A-minus and affirmed the A2 short-term rating on the 2 entities. S&P links the downgrade to the deregulation of the gas market.

South Africa (23 September 1999)

SA's current account deficit plunged 3.4 billion rand (A$850 million) into the red in the second quarter, mainly due to declining exports. Gold exports fell by A$154 million compared with the first quarter, due to lower production and lower prices.

Australian Institute of Petroleum (22 September 1999)

The AIP wants a merger with the Australia Petroleum Production & Exploration Association. AIP says cutbacks to the Institute's revenue base from member companies had been significant.

Boss Resources (22 September 1999)

Boss Resources has acquired national on-line business directory Aussie.com.au. Boss has arranged a $1.32 million share placement to fund the acquisition and ongoing development of the web-based directory.

Caltex Australia (22 September 1999)

Caltex has defended the recent increases in petrol prices, claiming they were driven higher by the increased cost of crude oil.

Gold Sales (22 September 1999)

The Bank of England's gold sale (25 tonnes) produced a better-than-expected result. Consequently the spot gold price jumped US$5.80 to US$260.60. The sale was 8 times oversubscribed. High lease rates were associated with the heavy bidding and subsequent price gains - you can buy gold and lend it at 3.5%.

Normandy Mining (22 September 1999)

Normandy has delivered shareholders an optimistic view of the gold business in the year ahead, where it will have increased direct exposure to fluctuating gold prices. Normandy will increase the amount of its gold production delivered into the spot market from 3% to 15% in 1999-2000.

Novus Petroleum (22 September 1999)

Novus has increased its presence in Oman by signing an exploration and production sharing agreement with the Sultanate of Oman for the Block 17 concession, covering the onshore Musandam Peninsula and the offshore area surrounding the peninsula. Block 17 is contiguous with Novus' Block 8 concession which has production from the Bukha field.

Ralph Tax Review (22 September 1999)

Major resource companies have welcomed moves to cut the corporate tax rate from 36% to 30%.

However, some smaller companies believe the scrapping of accelerated depreciation spells disaster for the mining industry, with the decision taking away all incentives to invest money, create growth and sustain employment. Peter Cook, managing director of Hill 50 Gold, says the changes will be particularly damaging to future underground mine development, which generally incurs high upfront capital expenditure before commercial production can begin. "I can see scenarios where longer term capital projects will be cancelled, unless the companies are absolutely flush with funds."
The Federal Givernment has offered some hope by saying it will give special consideration to projects with major capital expenditure.

Striker Resources (22 September 1999)

Striker says results from bulk sampling at its Ashmore diamond project in WA are encouraging, yielding 785 diamonds weighing a total 55 carats.

BHP (21 September 1999)

BHP is being shaped to survive a long-term decline in world commodity prices, chief executive Paul Anderson has told shareholders at his first company annual general meeting. Change within BHP will be on-going.
Some BHP shareholders yesterday increased pressure on the company to make a decision on the future of its environmentally troubled Ok Tedi copper-gold mine in PNG.

Equinox Resources (21 September 1999)

Equinox Resources N.L. ("Equinox") has completed a placement of 12,750,000 shares (being 14.9% of its issued capital) at $0.08 per share to raise $1.02 million.
The placement consisted of :

• 10,000,000 shares to Australian Selection Pty Ltd, a subsidiary of Lion Selection Trust ("Lion Selection");
• 2,000,000 shares to M & G Australasian Fund ("M & G"); and
• 750,000 shares to a private investment fund.

The funds raised will be used primarily to fund Equinox’s recently announced participation in the Lumwana Copper Project in Zambia. The Lumwana Copper Project includes a world class copper resource in excess of 520 million tonnes of 1.06% Cu. This resource represents in excess of 5.5 million tonnes of contained copper metal with significant associated cobalt, uranium and gold.

Gold Exploration (21 September 1999)

Gold exploration cuts made up 70% of a $229 million (21%) slump in mineral exploration in 1998/99. Most exploration is now centered on existing operations with little greenfield exploration to find the next generation of gold mines.
WA has been the hardest hit with gold exploration falling 26% to $459 million. A positive sign was a 13% ($13 million) increase in overall gold exploration expenditure in the June quarter compared to the March quarter, but the totals remain 26% or $39 million lower than the prtevious corrresponding period.
Metres drilled fell 28% to 8.1 million metres in the year to 30 June, the lowest level since 1992.

Petroleum exploration in the last year was also down $114 million to $868 million with almost 80% of the funds spent offshore.

Gold Sales (21 September 1999)

The Bank of England will hold its second gold sale tonight - it plans to sell 25 tonnes.

Hargraves Resources (21 September 1999)

Hargraves has bought 51% of the Selwyn copper-gold mine in Qld from the receivers for an undisclosed price. Selwyn, under the control of now bankrupt Australian Resources, produced 45,300 ounces of gold and 22,400 tonnes of copper, at A$193/oz after copper credits, in 1997/98.

Herald Resources (21 September 1999)

The Company is pleased to announce that Cominco Ltd commenced a program of UTEM geophysics and diamond drilling in August/September 1999 on the Sopokomil North Sumatra project, where significant zinc/lead results have previously been reported.

UTEM geophysics

This ground EM survey has been designed to trace sedex-type massive sulphide conductors to considerable depth over and above the penetration obtained in an EM survey conducted in 1998. In excess of 70 line kilometers of traversing has been completed over about 10 sq km of the Sopkomil-Bongkaras target area.

The Julu Sedex Zone package of carbonaceous shales with multiple sedex horizons has been traced over about 4.5km and is still open to the north in the Bongkaras area. At the south end, a previously postulated south-plunging anticline appears to have been confirmed and on the western limb, the strongest EM conductor yet encountered has been delineated. This anomaly has been traced over 800m in its strongest part, indicating potential for a substantial sulphide body at relatively shallow depth. It is plunging to the south east for some further considerable distance.

Diamond drilling

The above anomaly will be drilled in the current program, together with other "highs" on the eastern limb.

Most assay results from the earlier holes in the program are expected shortly. Preliminary results of the first batch for hole SOP 15D include an intercept of the carbonate-hosted Basuki Lode of 10.5m @ 6.33% Zn and 6.53% Pb from 12 - 22.5m depth." For more information, click here.

Precious Metals Australia (21 September 1999)

Rio Tinto (21 September 1999)

Rio says production at its 50%-owned PT Kaltim Prima coal mine in Indonesia remains unafected by last week's evacuation of non-essential expatriate staff.

Westgold Resources (21 September 1999)

An appeal by St George Bank over an $8 million ruling in favour of Westgold began in the WA Supreme Court yesterday. St George is seeking to overturn a Supreme Court ruling late last year that it return to Westgold $8 million seized in acordance with a put option over shares in St Barbara Mines.

Croesus Mining (20 September 1999)

Croesus has announced high-grade gold mineralisation from diamond drilling at its Crusader project, 160km north-east of Kalgoorlie in WA. The best intersection was 9m @ 9.21 g/t Au - beneath an earlier RC intersection (9m @ 6.81g/t). Gold mineralisation has been defined over a strike length of at least 1000m.

Dragon Mining (20 September 1999)

Dragon has negotiated an option over the Svartliden gold project in the Skellefte mining district (half way between Stockholm and the Arctic Circle) with Canadian-listed Viking Gold Corp who has a 60% stake in the project. A merger proposal has been put to Viking's shareholders.

Rimfire Pacific Mining (20 September 1999)

Rimfire has commenced exploration at its Peel Fault diamond tenements, within the Bingara-Copeton alluvial diamond province, in NSW. Rimfire's main target is the Nareena anomaly.

Striker Resources (20 September 1999)

Striker's share price has jumped from 19.5 cents to 31 cents in the past 5 days, with speculation that Striker will announce positive results from its trial dredging program (for diamonds) in the Kimberley region in WA.

Talon Resources (20 September 1999)

Talon is expected to produce a maiden profit this financial year. Talon recently switched to industrial minerals and purchased unlisted Supersorb Minerals, which processes and packages granular absorbent products made from spongolite, diatomite and kaolinite.

Australian Gas Light (18 September 1999)

AGL says its outlook for the future is positive despite increased competition

BHP (18 September 1999)

Higher oil prices and cost-cutting have delivered BHP a 33% increase in net profit for the first quarter of 1999/2000 (to 31 August). The profit was also boosted by an after tax abnormal gain of $112 million related to the Beenup mineral sands project in WA. BHP held its interim dividend at 25 cents/share; however it is unfranked.

Consolidated Minerals (18 September 1999)

Manganese miner CML has won supply contracts for all 250,000 tonnes of manganese it will produce in 1999/2000. CML has won a 5-year contract to supply 90,000 tonnes/year to the Nikopol Ferroy alloy plant in the Ukraine.

Cue Energy Resources (18 September 1999)

New Zealand's Cue has listed on the new Port Moresby Stock Exchange in PNG.

Mosaic Oil (18 September 1999)

New petroleum exploration permits for northern Australia have been awarded to a consortium of Indo-Pacific Energy and Mosaic Oil; Canadian Petroleum International and the TSP Arafura Petroleum Oz-Exoil consortium.

Southern Pacific Petroleum / Central Pacific Minerals (18 September 1999)

SPP and CPM have produced about 3000 barrels of raw crude oil in 2 test runs at the Stuart shale oil project in Qld. Initial test runs have shown the need for modifications to certain equipment and operating procedures before the next hot commissioning run in early October.

Gallery Gold (17 September 1999)

Gallery Gold has recently completed an initial 22 hole RC percussion drilling program to test five soil anomalies on its 100%-owned Mupane Prospect in Botswana.
All five soil anomaly areas returned ore grade gold intercepts with the best results including Area 1 - 65m @ 4.0 g/t Au (including36m@ 5.9 g/t and 2m @12.9 g/t) , Area 2 - 38m@ 1.3 g/t (including 10m@2.7 g/t), Area 4 - 15m@2.8 g/t (including 7m@ 4.1 g/t).
Planning for a Phase 2 follow-up drilling program later this year is in progress. Phase 2 drilling will largely focus on Mupane Areas 1, 2 and 4 but will also include other targets at Mupane and initial testing of the new Matopi and Molomolo Prospects.

Gawler Gold (17 September 1999)

In summary:

• investigations undertaken to date suggest that the MTL process is novel and is not already being applied elsewhere in the industry;
• preliminary research indicates that the MTL process may be scaled up from the current bench-test scale to a full-scale industrial plant; and
• the MTL process has the potential to replace elements of existing nickel / cobalt extraction facilities and provide significant savings over existing processes in respect of construction costs and annual operating costs.

1. As detailed in the Company’s announcement dated July 13th, Gawler Gold has a 50 percent interest in a hydrometallurgical process for the production of synthetic rutile from ilmenite (now known as the "Synrutile Process").
2. Gawler Gold has commissioned patent infringement searches in Australia and the United States of America targeting patents and processes that may adversely impact on the Synrutile Process patents. Search results received to date have not uncovered any such patents or processes. International-type patent searches are also currently being conducted with results expected before the end of September 1999.
3. On September 8, 1999, a ‘Provisional Patent’ patent request entitled "Improvements in or Relating to Methods for Leaching Titanium Ores" was lodged to further protect the Synrutile Process.
4. The Company is currently conducting discussions with process engineering groups to advance the development and commercialisation of the Synrutile Process.
5. Gawler Gold has commenced negotiations with its venture partner to acquire the remaining 50 percent interest in the Synrutile Process.

For additional information, click here.

Normandy Mining (17 September 1999)

Normandy has again deferred the need for Joseph Gutnick's Edensor Nominees to begin repaying a $60 million loan made to it in May last year.

Petroz (17 September 1999)

The Chairman of Directors, Greg Swindon, has resigned as a director.

Phillips Petroleum / Norwest Energy / West Oil (17 September 1999)

Phillips has committed $10 million to a fresh round of drilling in the Timor Sea. The money will be spent on drilling a test well at the Coleraine prospect in the Timor Sea ZOCA by November 2000, in return for a two-thirdes stake in oil exploration permit ZOCA 96-16.

Acacia Resources / Delta Gold (16 September 1999)

DELTA’S PROPOSED OFFER IS INADEQUATE

On 2 September 1999 Delta Gold NL announced its intention to make a takeover offer for all the shares in Acacia Resources Limited. The proposed offer is to exchange one ex dividend Delta share for each Acacia share.
The proposal by Delta is totally inadequate:

• It represents a premium of less than 11% based on the closing share prices on 1 September after adjusting for Delta’s dividend. By comparison, over the last three years the average premium for successful takeovers in the gold industry was 65%, and the average for the sharemarket in general was 42%.
• It does not reflect the substantial economic and commercial benefits that Delta claims it would gain if it wins control of Acacia.
• Delta’s agreement with Placer concerning the integration of the Sunrise Dam and Granny Smith operations is uncertain and inherently risky to shareholders. Acacia shareholders are being asked to accept an agreement between Delta and Placer which limits the production capacity of Acacia’s 100% owned Sunrise Dam plant and effectively gives Placer control of future production and exploration in the Sunrise Dam region.
• Delta is proposing a share-for-share offer and many Acacia shareholders who accept the offer will be liable for capital gains tax.

The primary focus of Acacia’s Board and management is to maximise the value of Acacia’s shares for the benefit of Acacia shareholders.

The Acacia directors intend to reject the offer as proposed and will be recommending that you do the same. In the meantime you should do nothing until you have received all the relevant documentation, which will include a Part A Statement from Delta and, in response, a Part B Statement from Acacia.

Centaur Mining & Exploration (16 September 1999)

Centaur is seeking a major equity partner to facilitate a fourfold expansion of its Cawse laterite nickel-cobalt mine near Kalgooorlie in WA. Stage 2 would cost about $1 billion and would increase output to at least 40,000 tonnes nickel/year and 2500 tonnes cobalt/year.
Centaur recently made a strategic alliance with Heron Resources (including an option to takr a 15% stake in Heron), giving Centaur access to substantial high-grade nickel-cobalt resources needed for Stage 2.

Comalco (16 September 1999)

Comalco has signed a preliminary 20-year supply agreement with Malaysian State-owned Petronas for the supply of natural gas to the aluminium producer's proposed alumina refinery in Sarawak.

MIM Holdings (16 September 1999)

Korea Zinc expects to sign a contract with MIM in the next few weeks for the supply of zinc concentrate to its new US$425 million refinery in Townsville, Qld.

North Ltd / Delta Gold (16 September 1999)

North has confirmed that it is negotiating to sell its 50% stake in the 260,000 oz/yr Kanowna Belle gold mine. North will seek a competitive tender for the sale. Delta owns the other 50% stake in the mine and is seen as the obvious candidate.

Portman Mining (16 September 1999)

Portman has sold its Burton coal mine in Qld to Germany's RAG for $200 million.

Windsor Resources / jumbomall.com (16 September 1999)

Shares for jumbomall.com - which emerged out of the shell company Windsor Resources - listed on the ASX yesterday and closed at 20.5 cents, 0,5 cents above the list price.

ABARE (15 September 1999)

In its September quarter report, ABARE forecasts gold to average around US$260.00/ounce in 2000, amid concerns of further large sales by central banks.
Copper prices are expected to firm towards the end of 1999 and rise around 17% in 2000.
Strong consumption growth and falling stockpiles will drive zinc up in 1999-2000 and this, combined with increased production of zinc will see total export earnings surge 15% in 1999-2000.

Anaconda Nickel / Wesfarmers (15 September 1999)

Anaconda has signed a formal letter of intent with Wesfarmers to develop a phosphate fertiliser project near the Murrin Murrin nickel mine in WA. Anaconda proposes to treat phosphate ore from Wesfarmers' Mount Weld project, 25km south of leonora, at the Murrin Murrin operation in a bid to replace the 200 million tonnes of imported phosphate.

BHP (15 September 1999)

BHP has reported a rise in raw steel and coal output in August but decreased output from other core products which were adversely affected by mine closures, production interruptions and weaker markets.

Black Range Minerals (15 September 1999)

Following continuing outstanding drilling results and test work, Black Range will increase the proposed plant throughput capacity of its Syerston nickel-cobalt project in NSW by one-third to 2 million tonnes/annum.

Coal & Allied Industries (15 September 1999)

CAIL will 'have a close look' at acquisition opportunities, including Shell Petroleum's coal assets, says the company's new managing director Dr Kim Tronson. These comments came after shareholders voted overwhelmingly to acquire the NSW coal assets of its 70% shareholder, Rio Tinto.

Delta Gold / North Ltd (15 September 1999)

There are rumours that Delta has purchased North's Kanowna Belle gold mine (about 300,000 ozs/yr) in WA for $100 million..

Herald Resources (15 September 1999)

Portman Mining (15 September 1999)

There are rumours that Portman could purchase the Goonyella coking coal mine in Qld and announce a possible strategic alliance with German coal giant, RAG Group.

Preston Resources / Billiton (15 September 1999)

Global metals company Billiton has firmed as the likely partner in Preston's $688 million Marlborough nickel-cobalt project in Qld. Preston says it is close to securing finance for the project, which is likely to include a major equity partner.

Straits Resources (15 September 1999)

HIGHLIGHTS - HALF YEARLY REPORT

The company declared an operating loss before abnormal charges, interest and tax of $2.27 million for the six months ended 30 June 1999. The disappointing result reflects lower copper prices and the disrupted performance from the company's Nifty copper mine. The Girilambone Copper Mine performed to expectation and the Sebuku Coal Mine produced a record half-year profit.

WMC (15 September 1999)

WMC's Olympic dam mine will reach its new annual capacity of 200,000 tonnes of copper and 4,600 tonnes of uranium within days - and is already working on a further expansion.

Anaconda Nickel (14 September 1999)

Anaconda has recorded a 49% fall in net profit for the year to 30 June to $1.09 million. Operating profit before tax halved to $2.58 million.

Bolnisi Gold (14 September 1999)

Bolnisi has reported a net profit for the year to 30 June of $2.4 million - operating profit was $6 million

Centaur Mining & Exploration (14 September 1999)

Centaur has posted a net loss of $87.05 million for the year to 30 June, mainly due to abnormal losses totalling $50.35 million. Abnormal charges included a $90.3 million writedoen of Centaur's gold assets, partly offset by a $45.52 million gain on hedgebook restructuring. Gold sales rose to 204,325 ounces @ $530/oz (last year 199,215 @ $513/oz). Sales from the cawse nickel operation totalled $6.7 million.

Dome Resources (14 September 1999)

Preliminary Final Report and Dividend Announcement

The result for the year once again was a record for Dome, demonstrating the operational success of the Tolukuma gold mine in Papua New Guinea

The abridged results are:

	1999 A$ 000’s	1998 A$ 000’s
Operating Profit before abnormals and tax	10,638	7,681
Abnormal Item	(2,387)	-
Operating Profit before tax	8,251	7,681
Tax	(2,285)	(3,095)
Operating Profit after tax	5,966	4,586

The abnormal item relates solely to foreign exchange losses in a PNG subsidiary on the repayment of a British Pound loan. Overall, realised and unrealised foreign exchange net losses during the year amounted to A$1,553,000. Unfortunately, two factors which impacted on the results were the depreciation of both the PNG Kina and the spot value of gold.
Even following the repayment earlier in June of the convertible loan of British Pounds 1,730,000, the Company at balance date was still in a strong liquid position with A$10,289,000 in cash, treasury bills and finished gold and silver in metal accounts.
Following the successful past year’s performance, the Directors have declared a final dividend for the year of a fully franked 0.5 cents per share, making the total dividend 1 cent for the year. The record date is 20 September 1999, and the dividend will be paid on 5 October 1999.
Since the beginning of the new financial year, monthly gold equivalent production has been well in excess of the average for 1998/99. On present indications, Management expects that this increase will be maintained throughout the year. The Company has all cost factors under constant review in order to maintain and, if possible, improve profitability. The current implementation of hydro electric power to the underground mine should assist in this regard.

Emperor Mines (14 September 1999)

Emperor has posted a net loss of $5.93 million in the year to 30 June (last year a net loss of $18.35 million), mainly due to weaker gold prices and abnormal expenses. Sales revenue fell 32% and no final dividend was declared.

Grange Resources (14 September 1999)

Grange achieved a consolidated operating profit after tax of $10.9 million for the 12 months to 30 June 1999 (last year $2 million loss). This is a pleasing result in what has been a difficult year for the resources sector in general.

Grange’s strong financial performance is the result of the excellent performance of the Reward copper mine, favourable hedging contracts entered into for the forward sale of copper produced at Reward and the Horseshoe Mine Partnership transaction which generated an abnormal profit of $3.3 million.

As a result of the significant capital costs required to develop the Highway copper mine and the need for the Company to establish new business activities, the Board has formed the view that the Company should retain its cash reserves and apply them towards building a secure base for future profitability. Consequently, no dividend has been declared for the current financial year.
The next twelve months will be a period of intense activity for the Company, both in mining operations at Highway and Reward and in establishing its broader focus through investments in the financial services and technology industries.

Julia Mines (14 September 1999)

Julia has signed a Heads of Agreement with Smart Silicon Systems P/L which will result in Julia owning 50% of the issued shares in SSS. SSS is a supplier and developer of smart card products and services.

Macmin (14 September 1999)

FINANCIAL REPORT FOR YEAR ENDED 30/6/99 - SUMMARY - REVIEW OF OPERATIONS

LIKELY DEVELOPMENTS AND EXPECTED RESULTS

Perseverance Mining Corp (14 September 1999)

Perseverance has posted an $8.69 million loss for the year to 30 June after declaring aggregate writedowns of $9.8 million, mainly due to a revision of the book value for a suite of assets including the Fosterville gold mine. The company reported an operating profit of $605,318.

Resolute (13 September 1999)

Resolute has posted a huge net loss of $130.2 million for the year to 30 June (previous year net profit of $20.5 million), mainly due to abnormal losses of $135.6 million attributable to writedowns of its gold assets. Underlying operating profit, before tax and abnormals, also fell from $64.03 million to $18.83 million. No dividend was declared.

The outlook for Resolute over the next fiscal year is positive with attributable production forecast to increase sharply.
Production from the Obotan mine is forecast to continue to exceed the original design forecasts of 120,000 ounces of gold per annum.
With the Golden Pride mine now successfully achieving a throughput rate of 2.0 million tonnes per annum, production is forecast to rise towards the life of mine average production of 180,000 ounces per annum at cash costs of below US$200 per ounce. Production at Chalice is expected to resume in the December 1999 quarter.
These operations have the capacity to produce a record level of attributable production for Resolute at target cash costs of under US$200 per ounce for the full year, not withstanding costs in the first quarter will be higher. The resulting cash flow from these low cost operations, together with Resolute’s existing cash position will be used to pay down project finance levels in the current financial year.

Australian Gas Light Co (13 September 1999)

AGL has increased its stake in New Zealand's Trust Power Ltd from 16.1 % to 23.7%.

Dalrymple Resources / Lionore Mining (13 September 1999)

Dalrymple and Lionore have announced a potentially significant gold discovery at their Wildara nickel-gold project in the Northeastern Goldfields of WA. Drilling has produced intersections of 3m @ 11.85 g/t Au, 5m @ 8.28 g/t, 10m @ 3.38 g/t and 53m @ 3.24 g/t. 3 zones of gold mineralisation have so far been delineated over a total strike length of 800m and all remain open to the north.
Lionore is spending $1.2 million by the end of 1999 to earn a 70% interest in the project.

Highlands Pacific (13 September 1999)

Highland's largest shareholder, the National Provident Fund of PNG, says it will look to sell more than half of its 35% stake in the proposed $1.33 billion Ramu nickel/cobalt JV project in PNG.

Preston Resources (13 September 1999)

Preston has increased performance estimates for its Marlborough nickel project in Qld to 25,000 tonnes/year of nickel and 2000t/y cobalt (15% above those outlined in the 1998 feasibility study). This will be achieved by enhancing plant feed grades by improved treatment processes.

Red Back Mining (13 September 1999)

Red Back is seeking a partner to speed up development of its Chirano gold project in Ghana. Red Back has drilled out a resource of 750,000 ounces @ 2 g/t Au. To the east of Chirano initial drilling has delineated a resource of 100,000 ounces @ 3.5 g/t Au.

Tectonic Resources / Allied Mining & Processing (13 September 1999)

Tectonic says it will use the newly-developed mobile processing plant, developed by Allied Mining, at the RAV 8 nickel project near Kundip in WA. Tectonic will use the plant as part of its bankable feasibility study to produce nickel concentrate on site.

Boral (11 September 1999)

Boral's share price hit a 13-month high ($2.80) after most analysts backed the group's mooted break-up and listing of its energy arm.

Cultus Pacific (11 September 1999)

Two directors (Mark Dunphy and David Richwhite)have resigned, two days after OMV AG moved to compulsorily acquire Cultus.

Giants Reef Mining (11 September 1999)

Giants Reef Mining has launched its comprehensive web site, developed by Digital Reflections.
Giants Reef has made great advances in progressing its general exploration and corporate position, and has entered into a Joint Venture with BHP Minerals to explore for very large ore systems.
In conjunction with feasibility studies into mining the Edna Beryl, Estralita East and the recently discovered Billy Boy deposits, the Company has recently purchased a Gold Plant as a major step towards getting into production. For details, click here.

Hancock Prospecting / Iscor (11 September 1999)

South Africa's Iscor and Hancock face a $1 billion blowout in the cost of building the Hope Downs iron ore mine in the Pilbara in WA if they cannot get the 3 major companies (Rio Tinto, BHP and North) in the region to negotiate re access to rail links and ports.

Metal Prices (11 September 1999)

Last week on the LME, all the LME metals ended the Tuesday session in "backwardisation" - where the spot price is higher than the prices for future delivery. Normally, prices are in "contango", where prices for future delivery have a premium.

MIM (11 September 1999)

MIM shares rallied to their highest level in almost 2 years (closed at $1.53), buoyed by firmer copper prices and renewed institutional interest.

North (11 September 1999)

North will clear a major hurdle in the development of its $1 billion West Angelas iron-ore deposit in WA this weekend by signing the last of its native title agreements with the local Aborigines.

Pacmin Mining Corp (11 September 1999)

Pacmin has posted a record net profit for 1998/99 of $21.63 million - gold production jumped 45% to 194,212 ounces while cash production costs fell 26% to $308/oz. Pacmin did not declare a dividend and expects an even better performance in 1999/2000.

Brandrill (10 September 1999)

Mining services and drilling contractor Brandrill has posted a 42% fall in annual net profit to $2.48 million, mainly due to the subdued mining sector. The company has declared a final 1 cent/share unfranked dividend, taking the full-year payout to 2.5 cents (last year 4.5 cents). Brandrill says it remains well placed with a forward order book of $154 million, slightly down from the previous year's record $164 million.

Macmin (10 September 1999)

Rhodes Mining (10 September 1999)

Rhodes is seeking to raise $4.5 million to finance its transition from gold explorer to telecommunications and internet player. Rhodes has purchased broadband wireless networker Pulsat Communications and Tristar Graphics. Rhodes will change its name to Pulsat and would seek to JV or sell its Hungarian gold assets.
Rhodes plans to raise the $4,5 million through a rights issue to shareholders and a separate placement.

Australian Gas Light Co (9 September 1999)

AGL has called for a delay in approvals for new coal-fired power stations in Australia pending an in-depth study of the ramifications of different types of electricity generation. AGL said Australia faced a possible glut of coal-fired plants.

Centaur Mining (9 September 1999)

Centaur has cancelled its takeover bids for fellow Gutnick group explorers Astro Mining, Quantum Resources and Australian Gold Resources.

Iluka Resources (9 September 1999)

Iluka will spend $250 million in the next few years to double the size of its US operations and to develop Australia's third mineral sands province - a greenfields mine in the Murray Basin.

Normandy NFM (9 September 1999)

Normandy NFM has posted a 55% fall in annual net profit.

Ross Mining (9 September 1999)

Record gold production for the year raises operating profit before tax to $21.3 million on revenues totalling $89.9 million, resulting in an operating profit after tax of $13.6 million.

Ross Mining is pleased to announce an operating profit after tax of $13.6 million for the financial year ended 30 June 1999. The profit was realised from sales of 152,930 ounces of gold (up 71,435 ounces or 87.7% on the previous year) which generated sales revenues of $89.5 million. Both the gold deliveries and sales revenue were new records for the Company. The realised gold price averaged A$542 per ounce of fine gold delivered, approximately A$85 above the average 1998-99 spot price. Gross profit from operations totalled A$41.8 million, equivalent to 46.7% (1998: 45.4%) of sales revenue.

Total assets grew from A$166.9 million at June, 1998 to A$211.1 million at June, 1999. Borrowings excluding financed lease liabilities totalled A$62.4 million at June 1999. Subsequent to the end of the financial year A$10.1 million of these borrowings were repaid following the closeout of 112,700 ounces of hedging.

The highlight of the year was the successful start of the Gold Ridge Mine in the Solomon Islands in August, 1998. Gold Ridge produced 105,179 ounces at a cash cost of A$271 per ounce, exceeding forecasts by a significant margin. Ore Reserves at Gold Ridge were increased by approximately 750,000 ounces at costs of less than A$4 per reserve ounce. As a result, the Gold Ridge Mine has a mine life exceeding 15 years. The other contributor to the Company result was the Yandan Gold Mine in Central Queensland which, after nearly six years of profitable gold production, poured its last gold in April, 1999. The Yandan plant was relocated to Wirralie and commenced production in July.

The past year has been a challenging one but most problems, including major litigation in the Solomon Islands were overcome. The Timbarra project faced major delays and as a consequence, cost overruns. In August, 1999, the Timbarra Gold Mine was put on care and maintenance because at current gold prices of approximately A$400 per ounce, the returns of the mine were considered inadequate.

As a response to the low prevailing gold price, the Company has reduced its exploration expenditure and will focus on further reducing its operating costs and overheads. The Gold Ridge Mine, with its low cash costs of production and its long mine life places the Company in a good position to face the future.

Ross Mining’s gold production in the year ahead is expected to increase further, although the returns per ounce will be lower as the prevailing hedged gold price cannot be maintained.

On the basis of the financial results achieved in the 1998/1999 year and to reward shareholders for their loyalty, the Board is pleased to recommend a fully franked dividend of 2 cents per share. This dividend is to be paid as 1 cent cash and 1 cent in the equivalent value of shares. The issue of shares is to be valued as if it were an issue under the Dividend Reinvestment Plan at a 10% discount to the weighted average share price from 15-19 November 1999. For more information, click here.

Ticor (9 September 1999)

Diversified miner Ticor plans a restructure and envisages realising at least $140 million from the sale of its non-core coal and cyanide businesses. The sales would return Ticor to a pure mineral sands business.

Australia LNG (8 September 1999)

ALNG, a consortium of Australia's biggest oil and gas producers (a JV marketing company for the North West Shelf gas project), has staked its claim as a key supplier to China. ALNG is working towards supplying up to 3 million tonnes of LNG to a terminal in Guangdong province from around 2003.

Capital Energy (8 September 1999)

Satellite communications company Australian Business Technologies has filed for a $120 million back-door listing through dormant oil exploration company Capital Energy. Cap Energy will seek $60 million in new capital on the ASX around November, with $30 million to be paid to ABT in cash and the other $30 million retained for working capital. ABT shareholders will take the balance of the acquisition price as newly issued shares in the renamed company.

Entergy Corp (8 September 1999)

US power group Entergy will withdraw from the Australian market after deciding not to take part in a planned $1 billion expansion of the tarong power station north-west of Brisbane. Entergy says continuing delay and growing uncertainty over the government approval process has contributed to its decision to withdraw as an investor from the project.

Henry Walker Eltin (8 September 1999)

The merged mining and construction group has reported a 3.5% increase in net profit to $22.44 million for the year to 30 June, and has declared a fully-franked final dividend of 5 cents/share, taking the full-year distribution to 10 cents.

Icon Oil (8 September 1999)

International Mineral Resources (8 September 1999)

IMR has received shareholder approval to change its name (to FiberTel Ltd) and status, undertake a capital consolidation (on a 1-for-4 basis) and proceed with a $10 million fund raising to lift its stake in fibre optics telco carrier Amcom Telecommunications Pty Ltd. The funds will predominantly be used to increase FiberTel's shareholding in Amcom to 50% - $7.2 million subscription and $800,000 acquisition of existing shares- and to provide working capital of $1.2 million for the company.

Monto Minerals (8 September 1999)

Monto says 2 key new leases issued by the Qld Government mean all the leases are in place for it to develop an ilmenite project near Monto. One of the leases covers 518 hectares of Goondicum Crater land which Monto says contains a measured resource of 2.3 million tonnes of ilmenite. The second lease is on a 5.2 hectare site adjacent to the Maryborough-Gladstone rail line at Dalkeil, 30km north of Monto. Monto plans to establish a mineral separation plant and train-loading facility on the site.
Production is planned to start in 2001, with 275,000 tonnes of ilmenite/year for the titanium dioxide pigment production industry, as well as 100,000tpy of titano-magnetite.

Walhalla (8 September 1999)

Walhalla will change its name to Kidz.net after receiving shareholder approval.

Cumnock Coal (7 September 1999)

Portman Mining (7 September 1999)

Santos (7 September 1999)

Western Metals (7 September 1999)

Consolidated Minerals (6 September 1999)

Highland Valley Copper (6 September 1999)

Leo Shield Exploration (6 September 1999)

Maiden Gold (6 September 1999)

Murchison United (6 September 1999)

Outokumpu (6 September 1999)

Stuart Petroleum (6 September 1999)

Ausdrill (4 September 1999)

Oil Company of Australia (4 September 1999)

Santos (4 September 1999)

Straits Resources (4 September 1999)

Terms of Agreement

Delta Gold (3 September 1999)

Eastern Aluminium (3 September 1999)

Western Metals (3 September 1999)

WMC (3 September 1999)

Acacia Resources / Delta Gold (2 September 1999)

Golden Cross Resources (2 September 1999)

As previously announced, deeper drilling at Kempfield Silver Project south of Orange NSW has indicated higher values of lead and zinc. Recalculation of resources, taking into account lead and zinc, has indicated a large precious and base metal sulphide system extending over three kilometres of strike. Using a silver equivalent* cut-off of 30g/t gives an indication of the size of the mineralised system to a depth of 150m:

Ausmelt (2 September 1999)

Beaconsfield Gold (2 September 1999)

Delta Gold / Acacia Resources (2 September 1999)

Envestra (2 September 1999)

Normandy Mining (2 September 1999)

North Limited (2 September 1999)

Oil Search (2 September 1999)

Petroz / Santos (2 September 1999)

Queensland Metals Corp (2 September 1999)

Australian Magnesium Corporation (1 September 1999)

BHP (1 September 1999)

Edensor Nominees / Great Central Mines (1 September 1999)

Lakes Oil (1 September 1999)

Mogul Mining / Wine Planet Holdings (1 September 1999)

Pan Australian Resources (1 September 1999)

Sons of Gwalia (1 September 1999)

St Barbara Mines (1 September 1999)

Union Mining / Union Capital Limited (1 September 1999)