Harmony Gold Reports Fatality At Bambanani Mine
Harmony Gold Mining Co. Ltd. (NYSE: HMY) reports that an employee was killed after a “fall of ground incident” at the Bambanani mine Friday. An investigation is occurring. “Management express[es] their deepest condolences to the deceased employee’s family, friends and colleagues,” the company says.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Teranga: Wahgnion’s Gold Resources Rise 33%
Friday June 8, 2018 10:34
Teranga Gold Corp. (TSX: TGZ) reports that drill results for its Wahgnion gold project in Burkina Faso, West Africa have resulted in combined measured and indicated mineral resources of 2.4 million ounces of gold, an increase of 33% from the 1.8 million ounces announced in a feasibility study last September. The combined measured and indicated mineral resource is now 50.5 million tonnes at a grade of 1.51 grams per tonne, the company says. Teranga expects to release an updated mineral reserve estimate and related NI 43-101 technical report for Wahgnion in the third quarter. “Based on these excellent results, we are targeting a conversion rate of more than 50% of these additional 600,000 ounces of mineral resources into reserves, exceeding our guidance range of between 175,000 and 350,000 ounces of gold,” says Richard Young, president and chief executive officer. “With financing in place and major construction advancing, we are on our way to building a mid-tier gold producer in West Africa.” Wahgnion, which will be Teranga’s second mine, is expected to increase company-wide annual production by 50% to between 300,000 and 350,000 ounces. The first gold pour is expected by the end of 2019, Teranga says.