The Australian
It was a quiet week for the Mid West WA gold explorer, which is planning to start mining at the small Tumblegum South gold project in the first quarter of 2026.
That could be a tidy little money spinner, with pre-production costs of just $700,000 to $1.5 million predicted on a mine that would generate $9.4-19.6m in cash flow on just 11,800-15,900oz of gold production.
And that's at prices ranging from $3000-3800/oz, well below current levels. Mining approvals are in train, with the new streamlined process for small mining operations under the Mining Amendment Act 2022 to come into effect with the laws on September 9 this year.
There was a touch of intrigue this week, with Star's creeping share price prompting a trading halt on Thursday.
It's due to end on Monday when Star exits the halt to respond to not only the speeding ticket, but also with some much anticipated RC drilling results.
Only time will tell what's in store.
Stockhead
And that’s at prices ranging from $3000-3800/oz, well below current levels. Mining approvals are in train, with the new streamlined process for small mining operations under the Mining Amendment Act 2022 to come into effect with the laws on September 9 this year.
There was a touch of intrigue this week, with Star’s creeping share price prompting a trading halt on Thursday.
It’s due to end on Monday when Star exits the halt to respond to not only the speeding ticket, but also with some much anticipated RC drilling results.
Only time will tell what’s in store.
Star Minerals (ASX:SMS) has advanced four separate permitting studies to the final draft stage, preparing to submit formal applications for flora and fauna, subterranean fauna, and hydrogeology and hydrology assessments and a geological and geotechnical report. With only a few permits left to obtain, SMS says its mining approval application is nearing completion.
News.com.au
With soaring prices, the time could not be more right to get a gold mine into production. These ASX companies are doing just that.
Star Minerals is aiming to become a small-scale gold producer at its 45,000oz Tumblegum South project as soon as 2026.
Javelin Minerals is planning to enter production at the Eureka gold project near Kalgoorlie by early next year
We pick out seven junior explorers you may not know are heading for producer status
Investair
Star Minerals (ASX:SMS) has made significant progress in advancing its Tumblegum South Gold Project this quarter. The company signed an MOU with mining company MEGA Resources to collaborate on mine development and operations. They also appointed a mine approval process consultant, ResourcesWA, to undertake the environmental and other studies required for the project.
Subsequent to the quarter, Star Minerals completed 2,033m of drilling to test for potential high-grade lodes and increase resource confidence. The company is working closely with MEGA Resources on the mine design and approval process, and is targeting mining commencement in the first quarter of 2026.
A scoping study for the project suggested at gold prices from A$3000 to A$3800/oz the updated production target for the project ranges from approximately 167,000t at 2.43g/t producing 11,800oz gold, to 255,000t at 2.16g/t producing 15,900oz gold.
That would generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of approximately A$9.4m to A$19.6m.
Star Minerals (ASX:SMS) has polished off a 2033-metre, 38-hole drilling program at the Tumblegum South gold project, on time and within budget.
The infill drilling data from the program will be used for a resource estimate upgrade, and will also provide insights on structural targets to the northwest with potential to hold more gold mineralisation.
The Sydney Morning Herald
Star Minerals has fired up the drill rigs at its flagship Tumblegum South gold project, 40-kilometres south of Meekatharra in Western Australia, as it looks to prove up the asset’s near-term production potential.
The 3000-metre reverse circulation (RC) drilling program, which kicked off this week, aims to bolster the project’s already compelling economics by upgrading the gold gaps and chasing high-grade gold lodes to extend the project’s mine life.
