Australia
Aeris Resources on track to deliver following “transformational” Cracow Gold Mine acquisition
Aeris Resources Ltds (ASX:AIS) recent acquisition of the Cracow Gold Mine in Queensland is forecast to deliver free cashflow of more than A$100 million over the first two years of ownership at the current gold price.
The company has a proven track record operating its Tritton Copper Operations and other gold mines, which will be applied to driving value creation at Cracow.
This mine is on track to produce between 82,500 and 87,500 ounces of gold in the 2020 financial year as well as generate net mine cash flow of $84 to $89 million.
Aeris believes the acquisition of the mine from Evolution Mining (ASX:EVN) is a compelling value-add to the companys portfolio as its a low risk, high-grade, cash-flow generative mine in an attractive location.
“Asset and commodity diversity”[hhmc]
Executive chairman Andrew Labuschagne said: “This is a truly transformational transaction for Aeris and will immediately be accretive in value.
“The acquisition provides us with asset and commodity diversity..

Aeris Resources Ltds (ASX:AIS) recent acquisition of the Cracow Gold Mine in Queensland is forecast to deliver free cashflow of more than A$100 million over the first two years of ownership at the current gold price.
The company has a proven track record operating its Tritton Copper Operations and other gold mines, which will be applied to driving value creation at Cracow.
This mine is on track to produce between 82,500 and 87,500 ounces of gold in the 2020 financial year as well as generate net mine cash flow of $84 to $89 million.
Aeris believes the acquisition of the mine from Evolution Mining (ASX:EVN) is a compelling value-add to the companys portfolio as its a low risk, high-grade, cash-flow generative mine in an attractive location.
“Asset and commodity diversity”
Executive chairman Andrew Labuschagne said: “This is a truly transformational transaction for Aeris and will immediately be accretive in value.
“The acquisition provides us with asset and commodity diversity, strong cashflow generation and high-value synergies.
“Cracow will be a perfect fit for the unique skill set of our management team, who have a track record of extracting value and life extensions, as demonstrated at the Tritton mine, and previously with Norton Gold Fields at the Paddington gold mine.
“Our immediate focus will be on transitioning Cracow into the Aeris culture and aggressively investing in the mine life extension opportunities we have identified.”
Investing in exploration
Cracow has a strong track record of reserve and resource replacement and Aeris plans to aggressively invest in brownfield and greenfield exploration with the aim of growing the resource base to extend mine life.
Multiple near-term opportunities for resource conversion have been identified with A$13 million budgeted over the next two years for exploration and key priorities including both underground near-mine extensions (eg Killarney) as well as nearby open pit deposits (eg the Golden Plateau and Roses Pride).
During the March 2020 quarter, the companys Tritton Copper Operations produced 6,083 tonnes of copper – a 12% increase on the prior quarter.
Trittons nearby underground mine, Murrawombie, produced 273,000 tonnes of ore during the quarter, which was in line with predictions, however, was a decrease compared to the previous quarter of 296,000 tonnes.
Copper grades of 1.62% were higher than the previous quarter (1.43%) as a result of mining sequence.
Exploration and project development
The Tritton tenement package covers 2,160 square kilometres in Central West New South Wales.
To date, more than 750,000 tonnes of copper, including the current mineral resource deposits, has been discovered within the bottom half of the tenement package.
During the previous quarter, a regional ground-based electromagnetic (MLTEM) survey was completed and was designed to confirm whether priority AEM anomalies represented legitimate bedrock conductors.
A total of 23 potential AEM conductors were surveyed and interpretation of the results were finalised during the current quarter.
MLTEM surveying over an AEM anomaly toward the northern margin of Aeris exploration tenement boundary confirmed the presence of a bedrock conductor.
Current modelling indicates plate dimensions varying from 200 metres x 200 metres to 325 metres x 325 metres with modelled conductance ranging between 100S to 150.
An exploration licence (EL) application was submitted to the Department of Planning, Industry and Environment during the previous quarter to cover the additional area.
Additional MLTEM surveying will be required over the northern half of the modelled plate and this will occur once the exploration licence application is approved, which is expected in the June quarter.
Murrawombie deposit
At the Murrawombie deposit, underground drilling continued throughout the quarter, testing the periphery of the main mineRead More – Source
Australia
Saudi women in Sydney: Sisters’ bodies lay undiscovered for a month

Australian police are baffled after the bodies of two Saudi women, believed to have lain undiscovered for a month, were found in a Sydney apartment.
Sisters Asra Abdullah Alsehli, 24, and Amaal Abdullah Alsehli, 23, were found dead on 7 June in separate beds at home in the suburb of Canterbury.
Police, who were called to the property for a welfare check, said the women are believed to have died in early May.
But despite “extensive inquiries”, they still do not know how or why.
The sisters moved to Australia from Saudi Arabia in 2017 and may have sought asylum, The Sydney Morning Herald reported. Police refused to confirm this, saying they do not comment on residential status.
A human rights organisation said it should be established whether the women fled Saudi Arabia because of domestic violence or harsh laws governing women. However, there is no evidence this is the case.
Police said they had been in contact with the women’s family, which is assisting them with inquiries.
Lina al-Hathloul, head of monitoring and communications at Saudi human rights organisation ALQST, said it “would not be the first case” of Saudi women who were killed abroad after fleeing domestic violence.
“There are no protections for women who are victims of domestic violence in Saudi Arabia, so they flee abroad,” she told the BBC.
She added: “I’m not saying that is the case here, just that we need a thorough investigation. It is frustrating not to have any information.”
According to the Sydney Morning Herald, there had been signs that something was wrong.
Last year, the women told their building manager they thought someone was tampering with their food deliveries, the paper reported.
A plumber who visited the apartment also said he believed there was “something mysterious” going on, and that police had been called in the past over concerns for the women.
New South Wales Police issued a renewed plea to the public on Wednesday, saying “any piece of information” could be the key to solving this case.
The local community is close-knit, police said in a statement, asking anyone who may have known or seen the women to come forward.
A report from Australian current affairs programme Four Corners in 2019 found 80 Saudi women had tried to seek asylum in Australia in recent years. Many of them were fleeing male guardianship laws.
Read from: https://www.bbc.com/news/world-australia-62331116
Australia
Australia election: Why is Australia’s parliament so white?

Australia
Scott Morrison effectively ditches his promise to establish a federal anti-corruption commission

Scott Morrison has effectively abandoned his promise to establish a federal anti-corruption watchdog, confirming he would only proceed with legislation in the new parliament if Labor agreed to pass the Coalition’s heavily criticised proposal without amendments.
Morrison pledged before the 2019 election to legislate a federal integrity body in the parliamentary term that has just ended. The prime minister broke that promise, failing to introduce his own proposal before the 46th parliament was prorogued.
On the hustings on Wednesday, Morrison was asked – given his previous undertaking to create the body – whether he would promise to put his proposal to a vote in the next parliament in the event the Coalition won the 21 May election.
Morrison declined to make that promise. “Our position on this hasn’t changed,” the prime minister said. “Our view has been the same – when the Labor party is prepared to support that legislation in that form, then we will proceed with it.”
The prime minister has attempted to inoculate himself from criticism about breaking an election promise by saying he tabled the integrity commission proposal in the parliament.
Tabling an exposure draft, which is what the prime minister did, is not the same as introducing finished legislation to the House of Representatives or the Senate that is then debated and voted on.
As well as repeatedly fudging what happened in parliament, Morrison has also created the impression the proposal can only proceed if Labor agrees to its passage without amendments.
All governments routinely introduce legislation for debate without any undertaking that it will be passed by the opposition. Labor favours a stronger model than the Coalition’s proposal.
Morrison’s lack of urgency on the issue created tensions within government ranks. Late last year, the Tasmanian Liberal MP Bridget Archer crossed the floor to support independent MP Helen Haines’ bill to establish a federal integrity commission. Archer accused the government of “inertia” over the issue.
At that time, Archer said she was “perplexed” at her own government’s failure to release a revised bill almost three years after it was promised before the last election.
While Morrison clearly wants to move on from the issue, he will face renewed pressure from crossbench independents if the coming election is close enough to deliver a hung parliament.
A number of independents running against Liberals in metropolitan seats have made it clear that establishing a credible national integrity commission will be a key demand in the event any new government – Liberal or Labor – is seeking agreements for confidence and supply.
Haines blasted Morrison’s comments on Wednesday. “Mr Morrison broke an election promise to introduce an anti-corruption commission and his pathway to creating one is still as vague as it was in the last parliament,” she said.
The crossbench independent said it was “nonsense” for the prime minister to claim that he could not proceed unless Labor agreed with the Coalition’s proposal without seeking any amendments. “It would appear we are in the same void as we were before,” Haines said.
-
Australia3 years ago
Button and Diane Powellpark the school bus after three decades
-
Australia4 years ago
60th Annual Louth Cup 2018 | Photos
-
Australia4 years ago
A good attendance for planning ahead
-
Australia4 years ago
Severe, unusual weather likely to cause damage
-
Australia4 years ago
Ten ways to scrap plastic without breaking the bank
-
World4 years ago
Сhinese navy jets master daring night maneuvers on aircraft carrier (VIDEO)
-
World4 years ago
Know-how: Canadian hospital first to сure patients with virtual reality
-
fun5 years ago
Will Gompertz reviews Lin-Manuel Miranda’s musical Hamilton ★★★★★