Mining

The new debentures are unsecured, carry a five-year maturity and an 11% annual coupon — split 6.5% payable in cash and 4.5% payable in cash or shares at the investor's election — and convert into shares at an initial price of A$2.72 per share. …

The initial diamond programme targets Central and Southern niobium zones, with approximately 3,000 metres planned. By 27 October, about 937 metres had been drilled across 14 collars, including 11 of 29 first-pass holes.

Karlawinda gold output increased from 30,437 ounces in the June quarter to 31,218 ounces. All-in sustaining costs rose from A$1,648 to A$2,005 per ounce, reflecting higher earthmoving during the expansion ramp-up.

The proposed counterparty is STG Metals GmbH. Terms cover standard-grade cobalt metal for an initial three years, with an option to extend for another three.

The binding agreement signed on 12 October covers Chalterra Pty Ltd, holder of an option over all of Colet Mining and Development Corporation. The project’s mineral production sharing agreement covers approximately 2,965 hectares.

Yardilla lies approximately 90 kilometres east of Norseman. Cullen owns E63/2487 outright and has an option to acquire 90% of E63/2463, where it has so far earned 20%. Combined tenure covers about 325 square kilometres.

The 1.5 million tonne per annum Laverton plant is on schedule and within budget. During the quarter, Brightstar completed bulk earthworks, water ponds and carbon-in-leach concrete, and took delivery of its first mechanical equipment. Power arrangements are in place through a power purchase agreement …