The corporate watchdog has launched civil legal action against under-administration gold play Wiluna Mining and its former chairman over “misleading claims to investors” on its last-ditch capital raise.
Creditors for Wiluna Mining have approved a formal agreement between the company and its creditors to avoid the gold play and its subsidiaries winding up.
Mining contractor Byrnecut Australia has recorded strong growth in revenue but a large fall in profit driven by higher expenses, two big impairments and bad and doubtful debts.
Administrators for Wiluna Mining will investigate details of a last-ditch capital raising that collected less than the company reported to the ASX in the weeks before its collapse.
Wiluna boss Milan Jerkovic has resigned after four years at the helm, just weeks after a capital raising to counteract unforeseen delays at the miner's namesake gold project.
Wiluna Mining Corporation's concurrent discovery, resource development and grade control drilling programs have delivered high-grade sulphide gold intersections around current mining areas and new targets across the company's mining operation in WA's Mid West region. The onslaught of drilling is expected to translate into inventory growth and increased confidence in production forecasts for both volume and grade up until the end of next year.
BMG Resources is running through the gears at its Abercromby gold project in the Wiluna region of WA with the explorer onto its next phase of diamond drilling at the operation. The 8-hole diamond probe will take in around 3,700m and is aimed at defining new resources and extending the footprint of previously discovered lodes.
Wiluna Mining Corporation's joint-venture partner, A-Cap Energy has raised its stake in their Wilconi nickel-cobalt project in WA from 20 to 55 per cent after sinking $5 million into the project as part of its phase 2 earn-in milestone. The transaction comes after its initial $500,000 cash payment to Wiluna and follows a major resource upgrade at their project.
Wiluna Mining is on track to collect $63.4 million in much-needed capital from shareholders for its namesake gold project, around $20 million less than it had sought to raise.
West Perth-based Wiluna Mining is offering shares at more than a 40 per cent discount to raise a minimum $50 million to bring its namesake gold project up to speed.
Wiluna Mining is hoping to complete a capital raising, likely to be $25 million or more, as it seeks to complete development works at its Mid West gold operation.
Wiluna Mining's foray into drill-testing the down-plunge extensions of high-grade gold mineralisation at the historically-significant East Lode has come up trumps, returning an impressive 9.4 metres at 4.87 grams per tonne gold that included 1.8m delivering 9.74g/t of the precious yellow metal. The mineralisation was reportedly intercepted 200m below historical workings and the current mineral resource envelope.
Wiluna Mining's first test of down-plunge extensions of the historic East and West Lodes have yielded strong sulphide mineralisation in the first of eight holes it will sink into the leads in WA's northern goldfields. The company has seven holes remaining to drill in the current program that is aimed at backing up recent ultra-high-grade gold results at its nearby Bulletin North target.
Wiluna Mining Corporation has intersected a flurry of ‘outstanding' gold results from a first-hole probe of its Bulletin North Discovery target at its namesake mine site, about 750km northeast of Perth in Western Australia. According to the company, the results include a 0.3 metre section grading a staggering 3270 grams per tonne gold from 634m and a 1.5m hit going 8.30 g/t gold from 570m.
Wiluna Mining Corporation has boosted its global ore reserves by 10 per cent, even after mining depletion, to 36.8 million tonnes grading 1.2 grams per tonne gold for 1.42 million ounces of gold at its namesake WA operation. The company posted an impressive 31 per cent increase in underground ore reserves to 861,900 ounces grading 4.11 g/t gold as it looks to focus on optimising Stage 1 development.
Wiluna Mining Corporation has notched up a win in WA after its farm-in and joint-venture partner A-Cap Energy scored a series of positive nickel and cobalt results from a recently completed diamond-drilling program at its Wilconi project near Wiluna. According to the company, the probe took in roughly 1490 metres and represents a crucial milestone as it works towards a pre-feasibility study at the venture.
ASX-listed gold producer Wiluna Mining says it has arrangements in place to sell all its concentrate to alternative destinations after suspending further concentrate shipments to Russia. Following the wake of Russia's invasion of Ukraine the producer has immediately suspended one shipment of gold concentrate that had set sail to Amursk, Russia and another that had just left its facility in Wiluna.
ASX-listed Wiluna Mining is ticking off milestones after confirming the first shipment of gold concentrate to its two off-take partners, Polymetal International and Trafigura. The company says the maiden supply forms part of an ongoing delivery that could significantly spike its revenue and assist in financing its transition towards becoming a top tier gold producer.
Perth-based gold-miner Wiluna Mining is ringing in the new year with the successful commissioning of the sulphide ore concentrate plant at its namesake project in WA. As part of its major production ramp-up plan the company is looking to treat 750,000tpa through the plant as it targets 90,000-100,000ozpa of gold in concentrate production by the end of the 2022 financial year.
Tietto Minerals has secured the remaining funds needed to develop its Abujar gold project in Cote d'Ivoire, while Wiluna Mining is advancing an expansion of its operations in WA.
Wiluna Mining Corporation has posted an impressive 28 per cent increase in its measured and indicated resource to now stand at a healthy 2.73 million ounces grading 4.46 grams per tonne gold at its namesake WA gold operation. The company's total mineral resource at the project now clocks in at 36 million tonnes grading 3.9g/t gold for 4.51 million ounces of the previous yellow metal.
Wiluna Mining Corporation's massive development program at its namesake WA gold operation looks set to continue bringing home the bacon with drilling over the Happy Jack and East Lode areas delivering a symphony of high-grade gold intersections. Notable results included 3.72 metres grading 5.31 grams per tonne gold at the former and 7.75m going 13.27 g/t gold at the latter.
Our board moves wrap includes Robert Ryan, Tim Goyder, Derek La Ferla, Jim Landau, Peter Marks, Jason Shaw, Louis Chien, DongMei Ye, Ric Jason, David Chapman, Lisa Mitchell, and Neil Meadows.
Perth-based gold-miner Wiluna Mining is frantically ticking boxes as it gains momentum on the downhill run towards commissioning its 750,000 tonne-per-annum flotation plant as part of its major production ramp-up plan at its namesake project in WA. The company expects the plant to be in operation in December and is targeting increased production to 120,000 ounces per annum by the end of the 2022 financial year.
Perth-based Wiluna Mining has wrapped up a mammoth 175km of drilling over the past 18 months to support a resource and reserve upgrade integral for its stage 2 sulphide development feasibility study. Latest drilling results from the East Lode and Happy Jack lodes continue to impress with intercepts grading up to 53.4 g/t gold confirming Wiluna as a high-grade mineralised system.
Perth-based gold miner and explorer Wiluna Mining can add nickel explorer to its growing resume as it embarks on an extensive review of historical exploration over its 1,600 square kilometre landholding in WA's Northern Goldfields. Wiluna's tenure stretches across 40km of strike in the Wiluna Greenstone Belt where the company is reviewing a plethora of high-grade nickel intercepts which look to be begging for renewed attention.
Wiluna Mining has pumped out a solid 12 months of gold production at its Wiluna operation in WA's north-eastern Goldfields with the performance complemented by a cracking average price on gold sales. The company reported June quarter production of 12,524oz from Wiluna at all-in sustaining costs averaging an impressive $1,371/oz, taking the full financial year production total to 51,552oz at average all-in sustaining costs of $1,794/oz.
ASX-listed Wiluna Mining continues to deliver impressive drilling results in areas targeted for expanding underground production at its namesake operations in Western Australia. Ongoing diamond drilling across the East and Happy Jack lodes has turned out a welter of new high-grade intercepts grading up to 773 g/t gold in the Happy Jack area.
