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struction works for the Tanami Expansion Austin consolidates gress over the past few months, ensuring
2 shaft lining, equipment and headframe the optimal team is in place and work pro-
construction project. GR’s scope of work will Queensland businesses grammes are now under way to meet our ac-
involve the construction and commissioning celerated timelines,” Ionic managing director
of the temporary and permanent works as- Austin Engineering Ltd has merged its two Tim Harrison said.
sociated with surface infrastructure. Queensland businesses as part of an ongo- “The team at Mincore presented a very
GR expects roughly $68 million in revenue ing review. complimentary skillset to the Ionic owners’
from the work which is scheduled for an April The two bases in Mackay primarily provide team and their recent experience in similar
2023 completion. onsite and offsite repair, maintenance, and technology applications provides Ionic with
sales support. The decision to merge the lo- some immediate optimisation opportunities
cations follows a failure to deliver significant worthy of consideration for Makuutu.”
company earnings over the previous years. Meanwhile, Latrobe Magnesium Ltd has
Austin expects to incur $600,000 in one- also awarded an EPCM contract to Mincore
off restructuring costs due to the merger, but Pty Ltd for the development of a 3,000 tpa
seeks to unlock roughly $4 million in balance magnesium demonstration plant in Hazel-
sheet capital through sales of assets in the woord North, Victoria.
process. A non-cash goodwill writedown of Latrobe and Mincore previously collabo-
$1.2 million was expected to be incurred in rated through several stages of feasibility
FY2021. studies to reach the 3,000 tpa figure. Latrobe
The Len Shield Street location will close has ambitions to produce up to 40,000 tpa.
while the Progress Drive site will remain, with
the former expected to contribute up to $9.7
million in revenue and $200,000 in losses in Iluka taps Vysarn
EBITDA.
GR Engineering will be part of the expansion Elsewhere, the company will undertake subsidiary for goods
of Newmont’s Tanami gold mine
changes in labour efficiencies to benefit fu- and services
ture costs for FY2022 after a one-off $1 mil-
lion restructuring cost. Iluka Resources Ltd has awarded Vys-
DDH1 says grace before Austin has stated all of these review chang- arn Ltd subsidiary Pentium Hydro Pty Ltd
Paterson drilling es will not impact the $9 million NPAT guid- a goods and services contract at its Cataby
mine site.
ance for FY2021.
Paterson Resources Ltd has awarded the Pentium will provide hydrogeological drill-
drilling contract for its Grace project in Western Mincore for Makuutu study ing services for $1.74 million. Work is set to
Australia to DDH1 Drilling. be completed during the first half of next
DDH1 will complete the drilling schedule Ionic Rare Earths Ltd has awarded engi- year after mobilising to site last month.
throughout the rest of this year. Paterson is neering duties for its Makuutu rare earths “Iluka continues to be an important cli-
targeting similar mineralogy to the world-class project in Uganda to Mincore Pty Ltd as part ent for our company and the award of the
Telfer gold-copper deposit and the Havieron of its strategy to accelerate a feasibility study contract provides a further endorsement of
projects nearby. which has already begun. the quality of Pentium’s service offering,”
Diamond and RC drilling will begin in Au- Mincore will be integral to the company Vysarn managing director James Clement
gust, focused on high-impact targets that were completing construction of the processing said.
identified in a recent geophysical survey. Such plant and associated infrastructure of Maku- “This work now provides a contract pipe-
targets were also historically drilled by New- utu. With Mincore’s support, Ionic will submit line exceeding the capacity of Pentium’s
mont Australia and Newcrest Mining Ltd. the completed feasibility study to the Ugan- current fleet of 12 rights in the first half of
Paterson also recently completed a herit- dan Directorate of Geological Survey and FY2022. Management intend to lease or
age survey over the Grace project with the Mines as part of company’s submission for enter into hire purchase arrangements to
Traditional Owners, the Western Desert Lands a mining licence by October 2022. execute the work in hand with additional
Aboriginal Corp. “The company has made significant pro- drill rigs.”

+ 27 (0)11 028 1181 info@nucleusml.co.za www.nucleusml.co.za

aUSTRaLIa’S PaYDIRT aUgUST 2021 Page 93