Page 61 - pd277-Nov19-mag-final-web_Neat

one of the hundreds of pegmatites Core has
on its Finniss lithium project south of Darwin

others are looking good. BP33 is shaping said the company
up well and Carlton is on the same min- was considering
ing lease as Grants and is looking pretty value adding op-
good. It is just a function of time and re- tions.
source drilling to bring them up.” “We could move
How far Core pushes exploration could further down-
also be dependent on the Finniss devel- stream in Phase 2
opment timetable. While the company is of the project,” he
aiming to be prepared for a development said. “Every cus-
start in the new year, fluctuations in the tomer and poten-
lithium market could affect overall timing. tial partner we talk
“We are aiming to have the project con- to recognises the
struction ready by the end of 2019. From value and poten-
there it will be working with our custom- tial of having the industrial infrastructure the strategic value of battery minerals in
ers and learning from the experience of of Darwin on our doorstep. It is the ideal northern Australia,” he said. “We are well
others to find what the best timing is and setting for downstream processing and engaged with the NT Government who’ve
that is linked to financing” Biggins said. could become the NT’s lithium valley.” been very supportive of the project and
“It is really about ensuring our plans are That would require substantial support understand the benefits of bringing a new
aligned with customers’ needs.” from government. Biggins is happy with industry to the NT. The Federal Govern-
A slower development rate would also the level of dialogue and support granted ment has also recognised that.”
allow Core to advance its plans for future Core so far.
expansion. While the current plan is dedi- “Both the Territory and Federal gov- – Dominic Piper
cated to concentrate production, Biggins ernments are giving more attention to

Merlin magic

finally fades

n end of an era came in late Septem- In August 2007, the company announced
Aber with the announcement that Mer- it was targeting a 5 mct resource at Merlin
lin Diamonds Ltd was to be placed in the and a scoping study had suggested a 1.4
hands of liquidators. mtpa operation delivering 400,000 ctpa at
Once a shining light of a vibrant Austral- values of $US150-180/ct could be estab-
ian diamond exploration sector, Merlin’s lished.
shares were suspended on the ASX in Oc- Well-known mining identity Joseph Gut-
tober last year after failure to lodge stand- nik took control in 2008 and the company’s
ard reporting documents. shares hit an all-time high of $1.07 in No-
The suspension signalled the beginning vember 2009 as the company pressed
of the end for the company. By the March ahead with trial mining which saw 1,800ct Happier times: The then-Striker
quarter of this year it had placed its name- recovered from 12,000t of material in the Resources team feature in the august
sake diamond operation in the Northern September quarter. 2004 edition of paydirt
Territory on care-and-maintenance after That was a high watermark for the com-
spending more than a decade trying to pany. As the GFC ripped the heart out of more than a dozen companies. Success
keep it on an even keel. the diamond market, Merlin entered an stories were rare in the period with only
It was a far cry from the company’s ever-decreasing circle of feasibility studies Kimberley Diamond Co Ltd emulating Rio
heydays in the mid-2000s. At that stage, and trial mining. Tinto at Argyle by taking its Ellendale dia-
Merlin (then Striker Resources) looked set Despite a series of small diamond parcel mond mine in Western Australia into pro-
to bring the project – a cast-off from Rio sales, Merlin never hit commercial status duction.
Tinto Ltd – into production. The board read during more than a decade of trial mining Today, Gibb River Diamonds Ltd stands
like a who’s who of the Australian diamond and ramp up. as the only active diamond explorer in
scene with Tom Reddicliffe as technical The liquidation of Merlin largely draws Australia with ASX-listed African diamond
director, Clayton Dodd as chief executive the curtain on a generation of Australian miner Lucapa Diamonds Ltd also boasting
and Ewan Tyler as chairman. diamond explorers which once included a sizeable exploration portfolio in WA.

aUSTRaLIa’S PaYDIRT NOVeMBeR 2019 Page 61