Beaconsfield Gold (31 July 1999)

Quarterly Report for the Quarter ended 30 June 1999

BEACONSFIELD MINE JOINT VENTURE

HIGHLIGHTS

Equinox Resources (31 July 1999)

Summary - Quarterly Report for the Quarter ended 30 June 1999

The June Quarter has seen a substantial acceleration in field based exploration on many of Equinox’s projects that were delayed last Quarter by the wet season. This has included drilling and ground based geophysical surveys on projects in Zambia (Zambezi Joint Venture) and in north Queensland (Pallamana JV and Fort Constantine South). In the Curnamona Craton at Ethiudna, BHP has completed a gravity survey defining targets for drilling next Quarter. Elsewhere in South Australia aboriginal site clearances have been satisfactorily completed on several of Equinox’s Gawler projects, allowing North to commence exploration of the Jubilee Dam-Buffalo Dam-Myola JV. In Sweden, target definition has been completed and discussions are continuing with several parties interested in potential joint venture participation.

Highlights of Equinox’s exploration effort during the June Quarter include the following :

Zambia : Zambezi Joint Venture (Equinox - Anglo American) :

• 1999 field season in full swing in Zambia operated by Anglo American.
• Kasanka - Serenje:
  • Akasuba: Drilling continues to intersect wide zones of copper mineralization which is open to the southwest, northeast and at depth - additional aircore and RC drilling is planned.
  • Regional reconnaissance program: Lag sampling of the remainder of the Raptor Sub-basin and aircore drilling of the Chibile and Blue Umulu targets has commenced.
• Lufwanyama / Kabompo: Field work including soil sampling and ground geophysics has commenced on recently defined targets.
• Mwombezhi: Several encouraging targets have been defined that warrant drill testing.

Sweden

• Target definition has been completed and discussions are continuing with potential joint venture partners to fund drill testing of priority targets.

South Australia - Gawler and Curnamona Cratons

• Gawler Craton: Stage 2 of the North JV has commenced with North to start exploration next Quarter.
• Curnamona Craton: BHP has completed a gravity survey that has defined 4 priority targets for RC drilling next Quarter.

Queensland

• Fort Constantine South : Normandy completed an extensive IP survey and drilled several targets intersecting minor copper-gold anomalism.
• Pallamana : An RC drilling program conducted by Normandy on the Kayak prospect intersected minor gold mineralization and further work is planned.

The Company remains in a sound financial position with cash on hand at 30 June, 1999 of $2.5m. The Company’s exploration expenditure for the June Quarter was $0.3m, with total expenditure including joint ventures of $1.6m.

Equinox has been successfully maintaining the momentum of its exploration effort through joint venture funding and current exploration budgets for Equinox projects indicate that expenditure for 1999 will total about $7.0m.

Impress Technologies (ex Merrit Mining) (31 July 1999)

HIGHLIGHTS - June Quarterly Report: vFax launched Education Online Network investment finalised E-Match investment secured COM STORE opens new retail outlets over $3.0 million working capital

Kidston Gold Mines (31 July 1999)

Kidston has posted a $1.4 million loss in the June quarter despite a 30% jump in gold production - primarily due to weaker gold prices.

Montague Gold (31 July 1999)

HIGHLIGHTS - June Quarterly Report

For details of the June Quarterly Report, click here.

North Limited (31 July 1999)

GROUP REVIEW - JUNE QUARTER

Managing Director Malcolm Broomhead said: "A record annual iron ore production and sales performance at
Robe River helped offset the result from the Iron Ore Company of Canada where production continues to be
impacted by difficult trading conditions in the North American and European pellet markets.

Production records were also established at Zinkgruvan and Kanowna Belle.

At Alumbrera operating results continued to improve. However, the long term mining plan will be reviewed
upon analysis of the results of the current drilling program and in light of the adverse price outlook for copper
and gold. It is anticipated that this work will be completed in the first quarter of 1999/2000.

Elsewhere in the group, annual production at Energy Resources of Australia remained at the reduced rate of
4000 tpa and forestry sales were lower than last year although sales from both these operations were
stronger in the fourth quarter.

North's outlook is one of cautious optimism given the robust demand for Robe River Iron Ore. The extent of
any overall recovery is difficult to accurately predict, particularly in the North American pellet market."

Oil Search (31 July 1999)

Higher oil prices and the news that the PNG to Qld pipeline would go ahead helped Oil Search shares gain 5 cents to $2.38. June quarter revenue jumped almost 54% to US$42.39 million - mainly due to a 36% increase in oil prices and a 3.7% lift in output.

Petroz (31 July 1999)

Highlights - June Quarterly Report:

• Considerable progress in the development of the Bayu-Undan Liquids Project
• Preparation for the drilling of Segat-3 and Baru-5 appraisal wells in the Bentu Korinci-Baru blocks in Indonesia commenced, with the spudding of Segat-3 scheduled for mid August.
• A high level,of seismic activity took place in a number of Petroz exploration blocks
• Oil production from Elang/Kakatua/Kakatua North averaged 25,280 barrels/day, which was 6,800 barrels/day less than originally forecast. Problems affecting production were overcome during June.

Rio Tinto / BHP (31 July 1999)

Rio and BHP have terminated iron ore merger talks after BHP made Rio a 'take it or leave it' offer. Analysts believe North Ltd is now the logical target for a possible iron ore business merger with Rio.

Santos (31 July 1999)

Santos has reported a 14.8% increase in first-half production and a 21.2% jump in sales revenue, with prices for LNG, crude oil and condensate up by 14.9%, 9.6% and 7.2% respectively. However, Santos has flagged its interim profits result for 1999 will reflect weaker 'other revenues' in the absence of asset sales and other abnormal items which had contributed to results last year.

Auridiam Consolidated (31 July 1999)

Highlights - June Quarter:

• Discovery of Lamproites at Ellendale under laterite cover.
• Decision to trial mine kimberlite BK16 in Botswana.
• Re-negotiation of production royalties pertaining to Woodlark Island.
• Acquisition of Guster Engineering.
• Announcement of Share Buy-Back.

Duketon Goldfields (30 July 1999)

Highlights For the June 1999 Quarter

Impress Technologies (ex Merrit Mining) (30 July 1999)

Impress Technologies subsidiary vFax.com Pty Limited has today launched Australia’s first free, Web accessible voice mail service.
The service is available to anyone with Internet access and is an ideal example of how Internet technology is making communication more convenient. vFax+ provides both a useful communications service and an opportunity to save money - all at no cost to the public. For details, click here.

MIM (30 July 1999)

MIM has reported record copper production from its Mt Isa operations (57,000 tonnes - up 25%), and record coal output from its Qld coal mines, in the June quarter

Rio Tinto (30 July 1999)

Rio has posted a better-than-expected first half net profit of $788 million, down only 8% on the previous year. - due mainly to cost reductions almost offsetting weaker commodity prices. Rio has maintained an interim dividend of US16.5 cents; Australian shareholders will receive a fully-franked 25.64 cents/share.

Ross Mining (30 July 1999)

HIGHLIGHTS - June 1999 Quarterly Report

Anaconda Nickel (29 July 1999)

Anaconda says it will create Australia's largest magnesium project with a capital cost estimated at $1 billion. The magnesite project is just 8km from Anaconda's Murrin Murrin nickel project in WA. A scoping study will be completed by engineering firm ICF Kaiser to determine the viability of the magnesium operation.

ASX Gold Index (29 July 1999)

The ASX has commenced calculations for a new expanded Australian Gold Index scheduled to be introduced next April - from the present 14 companies to up to 48 companies, ensuring a broader and more representative indicator of the sector.

Gold Price (29 July 1999)

The future for gold is not as gloomy as many commentators predict, says New York gold analyst Thomas Macnamara. The well-known gold bull says fundamental demand for the precious metal continues to grow, while the world's central banks are not likely to sell as much of their reserves as previously believed. In addition, the process of central bank sales is for the first time transparent, removing much of the uncertainty that has underpinned volatility in recent years.

Mogul Mining (29 July 1999)

Mogul will be reborn as an on-line wine trader after shareholders approved the acquisition of wine firm Ewines P/L. Mogul will become the shelf company of Ewines on-line trading arm Wine Planet. Wine Planet will list on the ASX in the next few days.

Normandy Mining (29 July 1999)

Notmandy has appointed bankers Rothschild to advise on the possible sale of the Big Bell gold operation. Normandy has just axed 100 workers at the mine and closed the open pit operations.

Pasminco (29 July 1999)

Pasminco has increased zinc output by 33% in the June quarter - to 101,266 tonnes of contained zinc. Lead metal production increased from 53,465 tonnes to 72,299 tonnes.

Acacia Resources (28 July 1999)

Acacia said that development of the 12 million ounce Wandoo gold resource at the Boddington gold mine could be under way by mid-2002. A revamped feasibility study is expected to be completed by the end of 1999.

Diggers & Dealers (28 July 1999)

Newcrest Mining executive general manager, Peter Lester, said the Australian gold industry had been slow to embrace the merger & acquisition mentality endemic with price downturns, but unless the gold price rose substantially it had to happen.

Golden Cross Resources (28 July 1999)

HIGHLIGHTS - QUARTERLY REPORT TO 30 JUNE 1999

Highlands Pacific (28 July 1999)

HIGHLANDS PACIFIC - ADVANCING RAMU AND SECURING ITS FUTURE

Macmin (28 July 1999)

Macmin is selling a brand new Power Plant, surplus to its requirements. For details, click here.

Michelago Resources (28 July 1999)

JUNE QUARTERLY REPORT - SUMMARY

Parkes Project

Normandy Mining (28 July 1999)

Normandy says a downgrading of its long-term credit rating (from Ba1 to Baa3) by Moody's Investors Service is not expected to affect its access to funding or borrowing overseas.

Ocean Resources / Bambuu (28 July 1999)

Bambuu, formerly Ocean Resources, has turned IT and plans to raise $3 million in fresh capital ahead of relisting on the ASX in August. Bambuu has acquired the worldwide rights to the goal-setting and lifestyle Internet site, www.goalmap.com for $2.5 million - satisfied by the issue of 12.5 million shares.

Oil Search / Orogen Minerals (28 July 1999)

The $3.7 billion PNG to Qld gas pipeline has effectively been given the go-ahead following the signing of preliminary sales agreements with foundation customers. Agreements have been signed between Energex (Qld Gov't-owned power utility), the PNG gas producers and back-to-back agreements between Energex and key customers including Tarong Energy, Sithe Energies and CS Energy. Comalco has also agreed on the price, terms and conditions with Energex - with a formal agreement expected to be executed shortly. The major outstanding issue for the project is the financial closure which is expected by the middle of next year.

Pan Australian Resources (28 July 1999)

For complete details of the June 1999 Quarterly Report, click here.

Quensland Metals (28 July 1999)

QM said it expected to be producing metal from its Australian Magnesium JV in 2003, and would focus on the automotive industry for demand. The feasibility study should be completed by early 2000.

Association of Mining & Exploration Companies (27 July 1999)

AMEC says offering a substantial tax break to investors willing to put money into the exploration industry would provide a significant boost to the ailing sector. AMEC says the resources downturn has slashed an estimated $240 million from gold exploration spending over the past 12 months alone, and unless an initiative to put money back in the ground is launched, levels could fall as much as another 40-50%, resulting in a lack of new mines to replace current production.
AMEC is proposing an innovative scheme whereby companies could transfer to shareholders tax deductions associated with bona fide exploration work by issuing 'flow through shares'. The tax deduction is then passed on to the 'flow through' shareholder and is subsequently not deductible to the company. While the scheme essentially mirrors one operating in Canada, AMEC is proposing that the renunciation passed to shareholders be given a concessional uplift of 133% to encourage additional investment in the industry. AMEC says it has support from the Prime Ministers office over the proposal.

BHP (27 July 1999)

BHP is to review the role its Cannington silver/lead/zinc mine in Qld could play in establishing a wider base metals portfolio towards the end of 1999, when the operation completes its first full year of production. The profitable operation earned $25 million profit to 31 May after a 2-year ramp-up to full capacity of 1.5mtpy of ore.
BHP is also exploring for silver around the Cannington deposit with Exco.

Black Range Minerals (27 July 1999)

Black Range says the Syerston laterite nickel/cobalt project in NSW had the potential to become Australia's lowest cost laterite producer. The company has just released some "spectacular" drilling results that will result in a substantial resource upgrade.

Carpenter Pacific Resources (27 July 1999)

Carpenter and Canadian JV partner Madison Enterprises Corp have reached agreement to consolidate ownership of the Mount Kare gold project in PNG. Carpenter has agreed to exchange its 25% stake for 10 million shares and 3.175 million warrants in Madison (equivalent to a 30% shareholding in Madison), which holds a 65% stake in Mt Kare.

Comalco (27 July 1999)

Comalco has posted a $96.8 million net profit for the 6 months to 30 June, well down on the previous corresponding period ($123.8 million), mainly due to lower aluminium prices.

Comalco has moved a step closer to finalising the location of its proposed $1.4 billion alumina refinery after revealing it has nearly concluded preliminary agreements for energy supply for its Malaysian option. The other option is Gladstone.

Delta Gold (27 July 1999)

Delta produced a record 420,302 ounces of gold in the year to 30 June (up from 350,000oz) at a cash cost of $199/ounce, making it Australia's lowest cost producer.
Delta also announced a substantial increase in gold reserves at its Wallaby deposit near Laverton in WA - of 3.8 million ounces (was 2.3 million ounces).

Gilt Edged Mining (27 July 1999)

June Quarterly Report - OVERVIEW

A program of follow-up reverse circulation (RC) and diamond core drilling at the Hornet, Rubicon and Pegasu discoveries (East Kundana) has resulted in further exciting high-grade intersections in all three deposits. The results of this highly successful infill and extensional drilling program have been incorporated into a revised resource estimation that represents a doubling of the previous (March 1999) resource estimate overall in terms of tonnage and an 83% increase in terms of contained ounces.
The mineralisation at Hornet, Rubicon, and Pegasus is strongly developed at the deepest drilling levels. Follow-up extensional drilling will be planned in stages to determine the full resource potential and the scope for open pit and underground mining, initially to 300 metres depth, with a near term resource target of 500,000 ounces. The discovery cost to date for these deposits has been a low $3 per resource ounce.

HIGHLIGHTS

• A 63 hole (5,294 metre) program of RC and core drilling was completed at Kundana during the quarter.
  High-grade intersections already reported (June 8 1999) include the following highlights:-
  
  16 metres @ 48.08 g/t from 195 metres
  14 metres @ 17.32 g/t from 33 metres
  9 metres @ 34.95 g/t from 76 metres
  12 metres @ 11.15 g/t from 130 metres
  14 metres @ 16.39 g/t from 194 metres
  11 metres @ 10.13 g/t from 22 metres.
• Combined gold resources at Hornet, Rubicon and Pegasus have increased substantially to 1,684,000 tonnes grading 5.7 g/t (~310,000 contained oz.) to a vertical depth of up to 180 metres. 91% of this total reports to the Measured Resource and Indicated Resource categories.
• The main mineralised zone is open at depth and possibly also along strike.

SIGNIFICANCE OF THE KUNDANA RESULTS

• The increase in resource inventory has increased the scope for combined open pit and underground mining operations. The ultimate scope and profitability of any future mining operations will depend on a number of factors including continued exploration success, the ability to convert resources to mineable reserves, and gold price.
• The fact that the mineralised zone is strongly developed at the deepest drilling levels means that there is potential for substantial resource extensions at depth. The present resource inventory is therefore likely to be an interim figure only. The near-term resource target is 500,000 oz to 300m depth. Mineralisation at the adjacent Kundana mine and White Foil properties extends well below 500m depth.
• The commercial significance of the recent discoveries will continue to be carefully evaluated via a staged program involving deeper drilling, resource estimation, metallurgical test work, pit optimisation, and underground scoping studies.

Homestake Mining / Delta Gold (27 July 1999)

Homestake has hinted at a deal with Delta over development of the adjoining Just-In-Case and Wallaby discoveries near Laverton in WA. Homestake's Just-In-Case project, with a resource of 484,000 ounces, compares with Delta's Wallaby deposit of 3.8 million ounces.

Newcrest Mining (27 July 1999)

Wet commissioning of the processing facilities at the Gosowong Mine commenced 0n 1 July and the first gold was poured on 25 July. The plant is expected to be at full capacity by the end of September - it is anticipated to produce at an average annual rate of 154,000 oz over a 5 year period at a cash cost of US$97/oz.

Exodus Minerals (26 July 1999)

Exodus says it has struck a series of high-grade intersections at its Mikado gold prospect near Laverton in WA, including 3m @ 12 g/t Au, 8m @ 28 g/t, 13m @ 4.9 g/t and 6m @ 10.1 g/t. One intersection included a spectacular 1m @ 187.5 g/t Au. The Mikado prospect forms part of a 3km-long trend of historic workings and step-out drilling had highlighted the potential for a further 2km of mineralisation.

Gold Sales (26 July 1999)

The Federal Government did not support the sale of IMF gold reserves to fund debt reduction in poor countries, Peter Costello said yesterday.

"Australia supports debt reduction for poor countries....but we think that governments should fund that," the Treasurer said.

Red Back Mining (26 July 1999)

Red Back has announced a new resource base of 728,000 ounces (10.6 million tonnes @ 2.1 g/t Au) at its Chirano gold project in Ghana. Red Back's goal is to prove up 1 million ounces. The previous resource figure was 214,000 ounces.

Acacia Resources (24 July 1999)

Acacia has tipped it will make big writedowns on the value of its gold assets in the light of the continuing price slump.

Austral Coal (24 July 1999)

Austral says production at its Tahmoor colliery is back on track, after productivity levels improved dramatically during the June quarter.

Kingston Morrison (24 July 1999)

Kingston Morrison has just launched its new company web site, developed by Digital Reflections. To gain access to the site, click here.

Last week, Australian engineering consulting firm SKM announced plans to merge with New Zealand's KM. The merger pulls together more than 2000 engineers, scientists, planners and project managers in offices across Australia, New Zealand, South-East Asia, the Pacific and Europe.

Montague Gold (24 July 1999)

Montague Gold has just launched its new company web site, developed by Digital Reflections. To gain access to the site, click here.

Montague, isted on Australian Stock Exchange in 1982, announced the acquisition of unlisted gold exploration company Cullen Resources NL in January 1999.
A $2.5 million capital raising was completed in March 1999 to fund ongoing activities including exploration at the Tick Hill (N.W. Queensland) and De Courcy (Ashburton, WA) gold projects.

Pasminco (24 July 1999)

Pasminco has announced it will sell the coal assets it acquired from its takeover of Savage Resources to a Swiss-based company for $69 million.

Reefton Mining (24 July 1999)

Reefton has told the ASX it is investigating business opportunities in the IT and Internet sectors. Reefton's share price rose another 6 cents to 16.5 cents.

Richfield Resources (24 July 1999)

Richfield says it has reached final agreement to acquire the Sprint Internet company. Sprint says the site's North American equivalent floated in the US this week, putting its worth to over US$4 billion.

Acacia Resources (23 July 1999)

Overview

• Production of 116,746 ounces at a cash cost of $346 an ounce
• Gold sold was 115,475 ounces at $560 an ounce
• Sunrise Dam plant upgrade completed
• Sunrise Dam resources increased to 4 million ounces
• Wandoo feasibility work indicates potential for throughput of 18 million tonnes/year and significant cash cost improvements
• Encouraging exploration results at new prospects in the Tanami and Gawler Craton regions
• Non-mine exploration expenditure reduced by 30%
• Half Year Accounts will reflect review of the carrying value of exploration and mining properties.
  

Gold Production and Costs

Production for the quarter was 116,746 ounces at a cash cost of $346 an ounce. (March 1999: 117,273 ounces at $322 an ounce). Higher average costs were mainly attributed to the scheduled processing of lower grade ore and tie-in and commissioning of the plant upgrade at Sunrise Dam.

Production for the half year to 30 June 1999 was 234,019 ounces at a cash cost of $334 an ounce (June half 1998: 263,392 ounces at $256 an ounce). 1999 production is on target to exceed 500,000 ounces and costs will decrease in the second half.

Gold Sales and Hedging

Gold sold during the quarter was 115,475 ounces at $560 an ounce, $141 an ounce above the average spot price.

Forward sale and put option contracts at 30 June 1999 totalled 2.4 million ounces at an average price of $591 an ounce. The marked-to-market value of these contracts was about $245 million.

Reserves & Resources

At Sunrise Dam, the Cleo resource has increased to 31.2 million tonnes at 3.77 grams per tonne containing 3.8 million ounces of gold. This is an increase of 511,000 ounces (16%) in the last six months. Total resources at Sunrise Dam are now 4 million ounces.

Development

At Sunrise Dam, the plant upgrade to increase processing capacity for blended oxide and fresh ore to 2 million tonnes a year has been successfully completed on budget and ahead of schedule. Feasibility studies to evaluate future development directions are progressing well and have identified areas where future capital expenditure can be reduced.

At Boddington the Wandoo feasibility study has identified a number of improvements to earlier studies that should result in higher gold production and significant unit cash cost improvements. These include the possibility of increasing the throughput rate to 18 million tonnes a year.

Exploration

Encouraging exploration results were obtained at a number of new prospects including Coyote, Pablo and Orion in the Tanami region, Defender on the Gawler Craton and also at Yam Creek in the Pine Creek region.

Ashton Mining (23 July 1999)

Expansion work at the Argyle diamond mine had affected June quarter diamond production - production was down from 9.7 million carats to 7.2 million carats. Ashton said it could take to 2002 before production at Argyle improved. Due to pit development, Argyle expects to produce about 31 million carats in 1999.

CIM Resources (23 July 1999)

London-based RJB Mining plc's 7 cents/share bid for CIM has been declared unconditional. To date, more than 80.7% of CIM shareholders have accepted the offer, and RJB has become entitled to 73.7% of CIM shares.

Gold Price (23 July 1999)

The Australian Gold Index rose almost 5% yesterday on renewed speculation that the US Congress may quash a large gold sale planned by the IMF (considering selling 10 million ounces). The gold price has recovered to US$255.50/oz.

Gympie Gold (23 July 1999)

Gold production for the year to 30 June, from the Eldorado mine at Gympie, was a record 34,276 ounces, up 9%. Gympie is considering JV's and other alliances to expand its profitable coal and gold operations.

Rio Tinto (23 July 1999)

Rio has reported increased production in the June quarter from most of its key commodity groups. Hammersley Iron increased production by 12%, seeking to capitalise on strong demand for fine iron ore from its Yandicoogina mine in WA.
Second quarter coal production jumped 48%, mainly due to the newly acquired Jacobs Ranch coal mine in the USA.
Aluminium production was up 12% and copper production was up 3%.

Woodside Petroleum (23 July 1999)

Woodside has reported lower sales revenue in the June quarter, with maintenance work on its vessel Cossack Pioneer meaning it did not produce any crude oil in the quarter. Sales revenue for the first half was $390.4 million, well down from $460.5 million previously. June quarter sales revenue fell to $179.4 million ($214.4 million previously).

AIMEX'99 (22 July 1999)

Aurora Gold (22 July 1999)

Aurora said economic and political unrest in Indonesia continued to affect its mining operations. Production in the June quarter fell 12% to 55,388 ounces of gold equivalent, with cash costs at US$165/oz.

BHP (22 July 1999)

BHP put the troubled history of its HBI project behind it at the official opening yesterday, confident the plant will be cash positive within 2 years.

Comalco (22 July 1999)

First half aluminium production rose by 4%, with Comalco's share up to 332,800 tonnes.

Golden Cross Resources / Pasminco (22 July 1999)

Lihir Gold (22 July 1999)

Lihir has begun operating at full capacity for the first time and has commenced negotiations to refinance its US$264 million debt.

Minasco Australia / General Gold (22 July 1999)

Minasco is to sell off surplus plant from the Mt Todd mine - acting under instructions from General Gold Operations Pty Ltd due to being surplus to plant recommissioning and operational requirement.

The expectation of release of surplus equipment from Yimuyn Manjerr Mine's (Mt Todd) 8,000,000 TPA plant has been eagerly awaited for by the industry. This initial release offers the Mining and Quarry industries a rare opportunity to acquire current model equipment at sound values.

Newcrest Mining (22 July 1999)

Overview - June Quarter

Production

Gold production for the quarter was 178,212 oz (177,583 oz last quarter) at a total cash cost* of A$345/oz
(A$332 last quarter). Scheduled mill shutdowns impacted the unit cost result for the quarter.

Cadia produced 77,998 oz (73,852 oz last quarter) at a total cash cost of A$239/oz ($258/oz last quarter).

Gold production totalled 710,839 oz for the full year (450,101 oz last year) at a total cash cost of $344/oz
($407/oz last year).

* Gold Institute Standard Costs

Development

Construction of Gosowong was completed on time and will be within budget. Wet commissioning
commenced on 1 July 1999.

An interim Mining Lease was granted for the Ridgeway project.

Exploration

Recent drilling results at Cracow have extended the mineralised zone .

Financial

On 30 June the hedge book comprised 6.8 million ounces. The net mark-to-market value of the hedge book
was $662.7 million (unaudited).

Audited financial statements for the year ending 30 June 1999 are anticipated to be released on 30 August
1999.

Pacific Energy (22 July 1999)

Pacific Energy (through its 75% owned subsidiary Atlantic Pacific Infrastructure) will acquire the non European assets of Kvaerner Group's infrastructure investment and development business.

Western Metals (22 July 1999)

WM has announced that the Mt Gordon copper mine (formerly Gunpowder) in Qld is getting closer to its target operating level of 50,000 tpy. Cash costs (US 35 cents/lb) are less then half the present world copper price. Cathode production for the June quarter totalled 9318 tonnes.

Woodside Petroleum (22 July 1999)

Woodside said production from the huge Laminaria and Corallina fields off WA would begin in late October, 2-3 weeks behind schedule.

New Hampton Goldfields (21 July 1999)

Anzoil (21 July 1999)

Anzoil says it has made a 'potential new gasfield discovery' at its exploration well D24-1 in the Hanoi Basin, off Vietnam. Gas shows were the 'highest sustained gas shoes observed in the basin'. Electric logs will be run over the next few days.

BeMaX Resources (21 July 1999)

BEMAX STRENGTHENS GRIP ON MURRAY BASIN LANDHOLDINGS

BeMaX Resources NL has cemented its position as one of Australia 's most significant emerging mineral sands companies after firming up its already extensive ground holdings in the highly prospective Murray Basin.

The Queensland-based Company has been offered 7 additional Exploration Licences in the northern section of the Murray Basin by the NSW Department of Mineral Resources - an area covering some 5,105 square kilometres - clearing the way for exploration to begin. For details, click here.

BHP (21 July 1999)

BHP said production of iron ore, steel, copper and oil all fell in June due to waning demand and maintenance work. Coal production rose 15% - due to lower than normal production in 1998.

Coal and Allied Industries (21 July 1999)

CAIL has warned that weaker coal prices would drive down profitability in the second half of the year, after posting slightly higher first-half net earnings. Net profit for the 6 months was $34.9 million, up from $34.1 million.

Cultus Petroleum (21 July 1999)

Austrian group OMV AG says it will declare its cash takeover bid unconditional if it becomes entitled to at least 40% of Cultus by 30 July. OMV curently holds 27.6%.

East Australian Pipeline (21 July 1999)

The transportation of gas to Victoria through the interrconnect gas pipeline helped EAPL achieve a record daily gas throughput.

Electrometals / ASARCO (21 July 1999)

Electrometals has signed a non-exclusive global marketing contract with ASARCO allowing it to market, sell, fabricate and Install Electrometals' electrometal-winning technology worldwide. The technology is used to recover metals from mine waste heaps.

Golding Contractors (21 July 1999)

Golding has won a contract to mine and supply 2.5 million tonnes of coal/year to Consolidated Electric Power Asia's proposed $900 million Kogan Crek power project in Qld.

Pacific Mining (21 July 1999)

Pacmin has increased its ore resource estimate at the Carouse Dam project, 110km from Kalgoorlie in WA, by 84% to 2.2 million ounces. Pacmin is undertaking a feasibility study to help it decide whether to go ahead with a new mine, which would produce between 120,000 to 150,000 ounces/year of gold Cash operating costs are expected to be about $350/oz.

Titan Resources (21 July 1999)

Titan is examining a revolutionary bacterial heap leaching process for the treatment of nickel sulphide ores. The new process could make worthless low-grade base metal sulphides economic.

Cultus Petroleum (20 July 1999)

Cultus has appointed London-based Lovegrove Petroleum advisers to manage the sale of its UK assets which comprisw a 6.7% stake in the producing Hutton field and a 5.76% stake in the operating Q-West field. Cultus' share of production from the 2 fields currently averages about 850 barrels of oil/day.

Icon Oil (20 July 1999)

USA DRILLING PROGRAMME

Icon reports that Sand Creek No.1 in Montana USA encountered a good sand reservoir as prognosed but was devoid of hydrocarbons. Further work is warranted on the basis of the excellent reservoir discovered. A new study of the seismic data will be conducted to determine where the hydrocarbons may have migrated. Sand Creek No.1 and Indian Creek No.1 were drilled $US80,000 under budget.

Lynas Gold / Ashton Mining (20 July 1999)

Lynas has agreed to complete a bankable feasibility study into development of Ashton Mining's Mount Weld rare earths project near Laverton in WA. Lynas will provide $3.2 million to complete the study by November, 2000, earning itself an initial 35% stake in the project. Mt Weld potentially could produce around 10,000 tonnes/year of cerium oxides, a key element used in catalytic converters, window tinting and high-power magnets.

Macmin (20 July 1999)

Normandy Mining (20 July 1999)

Normandy has reported record gold production for the 1998-99 financial year, with attributable gold production of 1.6 million ounces, up from 1.43 million ounces. Output in the June quarter jumped 18% on the previous quarter to 467,204 ounces. The big increase reflects Normandy's increased equity in Yandal operations through its stake in GCM. Record production was also recorded at Mt Leyshon and Pajingo in Qld, and Martha, kaltails and Ity in WA.
However, cash costs rose 2.5% to A$329/oz.
Normandy's $85 million exploration expenditure has resulted in its best year, with further hogh grades at its Pajingo and callie mines.

Placer Dome (20 July 1999)

Placer says production at the Porgers mine in PNG returned to plan in the June quarter. Porgera produced 180,897 ounces of gold in the quarter, compared to 183,262 oz in the previous June quarter (and just 115,301 oz in the March quarter).

Resolute / Taipan Resources (20 July 1999)

Resolute has formally withdrawn its takeover bid for Taipan Resources. Resolute will retain 19.8% of Taipan's fully paid shares and 9.5% of its partly paid shares.

Sterlite Industries (19 July 1999)

Sterlite, the Indian cable manufacturer that bought Tasmania's Mt Lyell mine in April, is looking to buy more Australian copper mines (40,000 - 50,000 tpy) to shore up its supplies of metal. At the same time, it has served notice on its Queenstown mining contractor (National Mining Management), that it will have to reduce costs if it is to keep its contract beyond December.

Alliance Gold Mines / Impress Technologies (17 July 1999)

Impress Technologies Limited (ex-Merritt Mining) has further reduced its shareholding in Alliance Gold Mines NL to 49.3 million shares which is 20.1%. For additional information on Impress Technologies, click here.

Ashton Mining (17 July 1999)

Ashton says no microdiamonds have been detected in the past 2 of 6 kimberlites sampled at its Buffalo Hills/Birch Mountain project in Canada. All work will now focus on the BH-225 kimberlite.

Beaconsfield Gold / Allstate Exploration (17 July 1999)

The high-grade Beaconsfield gold mine is on track to pour its first gold in late July. The $51 million project is forecast to produce about 100,000 ounces/year from total reserves of 1.42 million tonnes @ 16.9 g/t Au (770,000 ounces). For more information, click here.

BHP (17 July 1999)

BHP has announced major oil discoveries in the Gulf of Mexico - Atlantis (BHP 44%) and Mad Dog (BHP 11%).

Central Pacific Minerals / Southern Pacific Petroleum (17 July 1999)

The Stuart shale oil project's $250 million first stage demonstration plant is about 1/3 through its commissioning and should be producing by the fourth quarter.

Copper Price (17 July 1999)

The copper price rose following news that US copper miners Cyprus Amax Minerals and Asarco said they would merge. The move, which is expected to reduce copper output, sent copper prices 2% higher.

Envestra (17 July 1999)

Hong Kong's largest diversified infrastructure company, Cheung Kong Infrastructure Holdings, will take a stake in Envestra, as part of a $310 m illion capital raising. CKI has agreed to subscribe for 19.97% of Envestra's stapled securities and will have 2 directors appointed to the Envestra Board.

Goldfields (17 July 1999)

Goldfields says it has acquired tenements adjoining its Kundana mine believed to host rich extensions to the main gold resource. The tenements were acquired from Homestake and are believed to contain an extension of the main Strzelecki quartz vein, which averages 10-15 g/t Au.

Macmin (17 July 1999)

Minotaur Gold (17 July 1999)

Report For The Quarter Ending 30 June 1999

For complete details of the June Quarterly Report, click here.

Cultus Petroleum (16 July 1999)

The Australian Securities and Investments Commission has forced Cultus to withdraw claims its assets have the potential to add over $2 to its shares and to refrain from referring to 'exploration potential' for the duration of Austrian group OMV's hostile 76 cents/share bid.

Petroz (16 July 1999)

The Bayu-Undan Liquids Development Project has taken a significant step forward with the announcement that all JV participants have signed the Bayu-Undan Unitization Agreement - a major milestone towards the development of the Bayu-Undan Gas Condensate Field.

RAG Coal International (16 July 1999)

German-based RAG says it was "far along" in negotiations for the acquisition of "one of the most important Australian coal producers". RAG currently owns 27.5% of the German Creek coking coal mine in the Bowen Basin, Qld. A major stake in the nearby North Goonyella mine is expected to come on the market soon.

WAPET (16 July 1999)

A $300 million exploration program for targets at the huge Gorgon gas field, off the WA coast, will start next week following the expected arrival of the deepwater drilling vessel Marine 500, says US operator WAPET. Gorgon partners are Shell, Chevron, Texaco and Mobil.

Aquarius Platinum (15 July 1999)

Aquarius has received court approval for a restructure making it a subsidiary of Bermuda-based Startegic Platinum Mines. On completion of the restructure, Strategic will change its name to Aquarius Platinum and will seek listing on the ASX and the london Stock Exchange's Alternative Investment Market in September.

BHP (15 July 1999)

BHP has signed a "co-operation agreement" with Algerian State-owned energy group Sonatrach on a downstream liquefied natural gas operation and to search for mining projects.

BHP / Esso Australia (15 July 1999)

BHP and Esso have signed a memo of understanding with Duke Energy to supply gas to the Tasmania Gas Project (Bell Bay)

Centaur Mining & Exploration (15 July 1999)

Processing problems at the Cawse laterote nickel-cobalt mine in WA are responsible for below-forecast June quarter production, says Centaur. This, combined with a $35 million writedown of the Mt Pleasant gold operation in response to the low gold price, has resulted in a total loss of $86.9 million for 1998/99. The result would have been worse but for an abnormal gain of $42.2 milion from a restructure of the gold hedgebook.
At Cawse, nickel production in the June quarter was just 516 tonnes, with 84 tonnes of cobalt.

Goldfields (15 July 1999)

Goldfields has completed arrangements for a $184 million 3-year revolving credit facility, partly to refinance existing debt.

Perilya Mines (15 July 1999)

Perilya has reported record quarterly gold output from its Fortnum mine in WA - 29.763 ounces at a cost of $244/ounce, well down from the previous quarter ($278/oz).

Roc Oil (15 July 1999)

Roc Oil's initial public offering closes tomorrow. It apppears that the float has been very successful, raising at least the minimum $110 million. The underwriters are confident that the total will get near the ceiling of $150 million allowed for in the prospectus.

Sinclair Knight Merz / Kingston Morrison (15 July 1999)

Australian engineering consulting firm SKM is to merge with New Zealand's KM. The merger pulls together more than 2000 engineers, scientists, planners and project managers in offices across Australia, New Zealand, South-East Asia, the Pacific and Europe.

WMC (15 July 1999)

Key Points in June Quarter

• Production increases from expanded Olympic Dam
• St Ives acquires extra ground
• Fertilizer project 75% complete

Production Overview

Nickel

At Kambalda Nickel, the Long/Victor mine was placed on care and maintenance and
Mariners mine was closed.

Consistent performances at Leinster Nickel and Mount Keith yielded 10,249 and 10,343
tonnes of nickel-in-concentrate respectively.

The flash furnace at the Kalgoorlie Nickel Smelter performed well following the complete
hearth reline in the first quarter. Nickel-in-matte production was 22,813 tonnes for the period.

The Kwinana Nickel Refinery continued to improve with metal production of 14,719
tonnes for the period, corresponding to an annualised rate of over 58,000 tonnes.

Nickel Exploration

At Leinster, modelling of Progress Shoot has yielded an inferred resource of 1.7 million
tonnes at 2.7 per cent nickel. Progress Shoot is located 400 metres north of the main
Perseverance ore body at depths of 850 to 1,050 metres.

Exploration at Kambalda focused on extending the Wannaway and Coronet deposits.

Alumina (AWAC)

Alumina production increased by 3.2 per cent to 3.15 million tonnes during the second
quarter. Significant increases were at Point Comfort, San Ciprian and Jamalco. St Croix
recorded a significant decrease due to boiler maintenance. AWAC announced that it had
applied to patent a high-efficiency causticization process which could increase alumina
production capacity at its refineries by 500,000 tonnes a year.

Gold

Total gold production for the quarter was 180,896 ounces, lower than the previous quarter
due to the effects of cyclones Elaine and Vance at St Ives Gold.

Gold produced at St Ives Gold for the quarter was 95,722 ounces. Production moved from
Lake Lefroy to the Leviathan project, a land based open-cut mine, due to the cyclone
activity.

In July, WMC agreed with Resolute Ltd to earn 80 per cent of Resolute's interest in a
1,700 square kilometre tenement package south of St Ives/Kambalda. Taking account of
Resolute's existing joint-venture partners, WMC's effective equity in this package will be
61.4 per cent.

Agnew Gold production for the quarter was 51,046 ounces. Higher grades were obtained
from the Crusader mine.

Total production at Central Norseman Gold Corporation Ltd was 25,564 ounces, slightly
below the previous quarter. Decline access development in the Bullen West project was
completed during the quarter.

Gold Exploration

At St Ives, drilling at the West Idough prospect adjacent to the Boulder-Lefroy Fault, has
returned several intersections. The best results include 34 metres at 4.3 grams per tonne,
32 metres at 1.8 grams per tonne, 14 metres at 2.9 grams per tonne and 52 metres at 1.9
grams per tonne.

Exploration at Agnew Gold concentrated on testing several key targets on the surrounding
leases. Interesting results were obtained at Mt Von Mueller leases, including 12 metres at
1.6 grams per tonne from the Boundary Well prospect. Underground drilling at Redeemer
focused on the down plunge extension of the main lode with results including 7 metres at
12.1 grams per tonne and 8.4 metres at 5.7 grams per tonne.

At Central Norseman, underground drilling was completed at the Bullen West mine where
six of seven diamond holes, drilled to test down plunge extent of the indicated resource,
intersected mineralised structure with visible gold. Assays are pending.

Copper & Uranium

Production at Olympic Dam Operations was 27,212 tonnes of copper in the June
quarter. The new smelter complex continues to exceed production forecasts.

Production of uranium concentrate was also higher.

Commissioning of the expanded plant is well ahead of plan with the mill and smelter
already operating up to design capacity.

Industrial Minerals

Production of lump talc at Three Springs improved to 33,485 tonnes.

Equity production of milled talc increased to 61,397 tonnes. This increase was largely due
to the commissioning of new production capacity in Amsterdam.

Exploration

Exploration continued in Australia, Brazil, Canada, Chile, China, French Guiana and
Indonesia.

Exploration Expenditure

Unaudited cash expenditure on grassroots exploration was $12.4 million. Of this amount,
$4.6 million was spent in Australia and the remaining $7.8 million was spent overseas.

Woodside Petroleum (15 July 1999)

Woodside's share price continued to rise yesterday, following the continuing rise in world oil prices. Woodside's share price has risen from $6.80 in December to $12.25.

AGL (14 July 1999)

AGL has invreased its stake in New Zealand's Natural Gas Corp Holdings to a controlling 71.6% after acquiring Fletcher Challenge's one-third interest for $213.37 million.

BHP (14 July 1999)

Weaker demand from the world's steel producers and global oversupply has resulted in a 2.7% fall in coal production in 1998/99 to 68.6 million tonnes.

Central Norseman Gold (14 July 1999)

CNG says June quarter gold production fell 12% to 25,566 ounces, in line with plans.
At the Gladstone prospect RC drilling has returned best intersections of 1m @ 14.4 g/t Au, 4m @5.9 g/t and 1m @ 25.4 g/t.

ERA (14 July 1999)

Shares in ERA jumped yesterday following news that the World Heritage Committee will not place Kakadu National Park on the 'in-danger list', paving the way for ERA to develop the $3.8 billion Jabiluka uranium mine.

Gawler Gold (14 July 1999)

Gawler, in association with a privately-owned American research company, has successfully developed a hydrometallurgical process for the production of synthetic rutile. The results obtained to date provide the Company with a strong indication that this process should provide potentially significant savings in respect of both initial capital costs and ongoing operating costs over existing commercial processes.
Gawler holds a 50 percent equity interest in this innovative and potentially valuable process which produces synthetic rutile from ilmenite feedstock under conditions of normal atmospheric pressures and mild temperatures. Bench tests have already achieved a high recovery rate of near-pigment grade titanium dioxide (in the order of 99 percent TiO2).
For additional information, click here.

Intergen (14 July 1999)

Intergen has won a state government generating licence for its $1.4 billion Millmerran power station project on the Darling Downs in Qld.

James Hardie Industries (14 July 1999)

James hardie has secured an option to acquire Western Gypsum - a Utah mine with reserves of more than 3.5 billion tonnes of high-quality gypsum rock (used for wallboard).

Kalgoorlie Consolidated Gold Mines (14 July 1999)

KCGM (50/50 Normandy and Homestake) has cancelled all future development work at the underground Mt Charlotte goldmine at Kalgoorlie. The underground operation and the Super Pit form Australia's largest gold mining operation. Meanwhile, the transition to owner-mining at the Super Pit is continuing on schedule.

Normandy NFM (14 July 1999)

Normandy NFM has increased gold production 6% for the year to 224,870 ounces, after a record fourth quarter of 66,290 ounces. However, 4th quarter cash operating cost was $405/oz, up sharply from $278/oz in June quarter 1998. Total cash cost for the year was $381/oz ($251/oz in 1998). The increased cash costs reflected the lower head grade during the ongoing transition to a fully developed underground mine and ongoing treatment plant maintenance and de-bottlenecking activities. A plant shutdown for modifications also is scheduled for July.

Alliance Gold Mines / Impress Technologies (13 July 1999)

Impress Technologies Limited (ex-Merritt Mining) has reduced its shareholding in Alliance Gold Mines NL to 58 million shares which is 26.6%. For additional information on Impress Technologies, click here.

Chevron / Shell / Texaco / Mobil (13 July 1999)

The massive Gorgon gasfield off WA will come under operational control of US giant Chevron Corp if negotiations are successful. Chevron is in talks with the partners to replace WAPET as project operator - in a bid to cut overheads and streamline management.

Comet Resources / Anaconda Nickel (13 July 1999)

Anaconda has built up a 10.73% stake in Comet. Comet, with partner Multiplex Resources, owns the Ravensthorpe laterite nickel project in southern WA, where a 22,000tpy mine is planned.

Hargraves Resources (13 July 1999)

Durban Roodepoort Deep has made a takeover offer for Hargraves that values Hargraves at $40 million. The offer is 1 DRD share plus 70 cents for every 7 Hargraves shares, valuing the company at 42.8 cents/share, well above the 34 cents closing price. DRD already owns 19% of Hargraves, operator of the 70,000oz/year Browns Creek gold mine in NSW, and rtecently helped Hargraves complete its takeover of West African gold explorer Diversified Mineral Resources..

Macmin / Giants Reef (13 July 1999)

China Gold (10 July 1999)

The World Gold Council says costs of mining gold in China range betwee US$280 - US$290/ounce - or higher than the current spot price - and will need to undergo reforms to survive.

BHP (10 July 1999)

BHP expects to receive $200 million in cash in the current quarter after completing the sale of its natural gas interests in the southern portion of the North Sea off the UK - to UK firm Eastern Group for around $250 million.

Centaur Mining & Exploration (10 July 1999)

Guina Developments has increased its stake in Centaur to 21.35%.

Icon Oil (10 July 1999)

USA DRILLING PROGRAMME

Icon Oil announces that Sand Creek No.1 in Montana commenced drilling on Thursday 8 ^th July 1999. The well is programmed to a maximum depth of 1700 metres (5500 feet) and will take approximately 10 days to reach total depth. The primary objectives are the Tyler and Swift Sandstones but several other zones in the well are potential targets. The prospect is a seismically controlled four-way dip closure and several target zones in the well produce oil in nearby oilfields. For more details, click here.

Lakes Oil / Amity Oil (10 July 1999)

GIPPSLAND BASIN
Lakes Oil N.L. wishes to announce that it has concluded an agreement with Amity Oil NL whereby Lakes Oil’s 100% owned subsidiary company Petro Tech Pty. Ltd. will be assigned Amity Oil’s 100% interest in PEP 138 onshore Bass Strait, Victoria. Lakes Oil will grant Amity Oil a 5% wellhead royalty on all petroleum produced from the permit.

Gas market deregulation, together with the planned construction of the Eastern Gas Pipeline, which will run through our Gippsland permits, will provide a market for any commercial gas which may be discovered.
Lakes Oil has already identified three drilling prospects, one south west of Bairnsdale, one North of Metung, and the third north east of the North Seaspray No. 1 well, which was drilled in 1962 and flowed significant gas to surface. We hope to drill all three wells later this year. For additional information and maps, click here.

North Limited (10 July 1999)

North has withdrawn its opposition to an EGM requisitioned by 120 greenie shareholders opposed to its Jabiluka uranium mine being developed by ERA. The meeting will be held on the same day as the AGM in October.

Pasminco (10 July 1999)

Pasminco's share price hit its highest level in 18 months, buoyed by a surging zinc price on the LME. Traders say the zinc price rose on talk of a strike at Canadian giant Falconbridge's Kidd Creek plant - which produces about 145,000 tonnes of zinc and 135,000 tonnes of copper.

Rimfire Pacific (10 July 1999)

Rimfire is switching its focus away from gold and base metals to diamonds - the company has applied for 5 exploration licences in the Peel fault region, from Taree on the NSW coast, inland to Tamworth and north to the Qld border. The region has been noted for its alluvial diamonds - an estimated 2 million diamonds has been mined in the Bingara-Copeton alluvial deposit fields.

St Francis Mining (10 July 1999)

St Francis is planning to move its Bolivian copper interests to a listed vehicle in the US and concentrate in Australia on a new fuel technology, with the hope of eventually floating off an industrial arm
St Francis is acquiring ownership of Bluefire Gas; Bluefire's owners wil receive 152 million shares, a paper deal worth just over $50 million based on St Francis' present share price of 33 cents.

Sydney Gas Co / AGL (10 July 1999)

The share price of Sydney gas Co rose yesterday on speculation of negotiations with AGL to supply its Sydney market.
There was also market speculation that AGL was renegotiating a contract with Santos.

World Gold Council (10 July 1999)

The WGC has taken its case against official bullion sales to the UN, saying the US-controlled IMF's proposal to sell 10% of its bullion will throw thousands more miners out of work - and sink scores of poor African countries even further into debt. The WGC says gold mining accounts for 5-40% of the exports in more than 30 countries on the list and IMF sales will further hurt the gold price and the 41 would-be benefactors by US$150 million a year.

Golden Cross Resources (9 July 1999)

Grange Resources (9 July 1999)

Grange has completed the acquisition of investments in Agricultural Trading Systems Pty Ltd (40%) and Resources Trading Systems Pty Ltd (20%).

Highlands Pacific (9 July 1999)

Normandy Mt Leyshon (9 July 1999)

Gold production in 1998-99 jumped 26% to 314,575 oz - June quarter production totalled 75,517 oz, 4% above the March quarter, mainly due to higher grade ore (2.03 g/t) being mined. Cash costs for the year were significantly reduced to A$243/oz - compared to A$307/oz in the previous year.

Power Prices (9 July 1999)

An annual survey has revealed that Australia's average electricity prices jumped 29% in the past year - the largest price hike of all 17 countries surveyed. Australia now ranks behind Sweden and South Africa as the third cheapest power provider.

Gold Sales (8 July 1999)

Following the Bank of England's sale of 25 tonnes of gold and the falling gold price, high-cost South African miner East Rand Propriety Mines is closing (filing for bankruptcy) with the loss of 5000 jobs.

MIM (8 July 1999)

Giant US investment house Merrill Lynch has recommended MIM - and says their share price could resch $1.50, buoyed by a surging copper price and a reduction in capital expensiture.

Resolute (8 July 1999)

Resolute has announced staff cut-backs and has also slashed exploration expenditure from $17 million to $7.5 million.
However, its June quarter gold production rose 10% to 76,367 oz at a cash cost of A$342/oz.

Rio Tinto (8 July 1999)

Rio says recent copper production cutbacks will not relieve oversupply in the short term - what is needed is an increase in demand. Rio says there are some signs of demand increasing in Asia.

WMC (8 July 1999)

WMC increases access to prospective gold areas in St Ives region

In July 1999, WMC agreed with Resolute Ltd to acquire 80 percent of Resolute's interest in a 1700 square kilometre tenement package south of St Ives/Kambalda. Taking account of Resolute's existing joint-venture partners, WMC's effective equity in this package will be about 60 percent.
This gives St Ives Gold more than 140 kilometres of continuous tenements spanning the highly prospective Norseman-Wiluna greenstone belt.
The larger tenement position will allow St Ives Gold access to a greater range of targets for its ongoing exploration plan. In return, Resolute will gain access to mine resources within selected areas of WMC tenements.

Anaconda Nickel (7 July 1999)

Anaconda will farm in to the Weld Range and Range Well laterite nickel and platinum projects in WA. Anaconda will earn up to 75% in the projects from Dragon Mining and Sons of Gwalia by spending $1 million on exploration over 3 years.

Defiance Mining (7 July 1999)

Defiance has announced promising drill results from its Mathinna project in NE Tasmania - including 10m @ 9 g/t Au and 8m @ 8.9 g/t. Shares were suspended as the ASX wanted clarification of "visible gold".

Gold Sales (7 July 1999)

Following the Bank of England's sale of 25 tonnes of gold at an average US$261.20/ounce, the gold price fell and closed at US$257.00/ounce, down US$4.90/oz.

Woodside Petroleum / Apache Energy (7 July 1999)

Woodside and Apache are refusing to comment on a proposal by US-based Syntroleum Corp to develop a $450 million gas-to-liquids plant on the Burrup Peninsula in WA. Syntroleum is examining the feasibility of constructing a 10,000 barrels/day plant near the Woodside operated LNG facility at Burrup.

Cultus (6 July 1999)

Austrian group OMV says it is now entitled to 20.9% of Cultus, the largest shareholding in Cultus.
Meanwhile, the recent sale by Gulf Canada Resources of its half share in Jabiru/Challis fo US$14-20 million values Cultus' 18.75% stake at A$7.9-11.4 million, well below Cultus' estimation of between A$36.4 - 42.4 million.

Gold Sales (6 July 1999)

The Bank of England will today be auctioning up to 25 tonnes of gold as part of its plan to sell off 415 tonnes of gold.

North Limited (6 July 1999)

North has sold Warman International for $460 million, generating a profit of about $250 million.
The sale reflects North's determination to focus on the resources sector and take advantage of emerging opportunities.

Rio Tinto (6 July 1999)

Rio expects to export its first shipment of coal from the reopened Kestrel coal mine (formerly Gordonstone) in Qld in 2 weeks.

Icon Oil (5 July 1999)

USA EXPLORATION PROGRAMME

Icon Oil reports that the Indian Creek No.1 well in Montana has reached a total depth of 1385 metres and recovered live oil in the mud tanks while drilling a three foot thick sandstone bed in the Tyler Formation. Electric logs indicate that the porosity in the sand is about seven percent and wellsite evaluation indicates a fined grained well cemented sandstone. The Tyler Formation was penetrated as prognosed and was structurally high but the reservoir characteristics are not sufficient to sustain commercial production. Fluorescence and cut was observed in the shallower Greenhorn Sandstone but this reservoir would required fracing to get hydrocarbons to flow. The results of drilling Indian Creek No.1 are encouraging and further drilling to the southwest in a similar structural position is being studied. The well was drilled 10 percent under budget.

The rig will be moved to Sand Creek No.1 15 miles to the north to drill a four way closed structure which has Tyler sandstone objectives which are different to those in Indian Creek No.1. The Swift Sandstone is one of several prospective sands in this well. Sand Creek No.1 is expected to commence drilling on Thursday 8 ^th July and take ten days to reach total depth of 1700 metres. For additional information, click here.

Ross Mining (5 July 1999)

Ross Mining is pleased to announce that its achievements at the Gold Ridge Mine have been officially recognised. On Saturday, 3rd July 1999, the Gold Ridge Mine Tailings Storage Facility in the Solomon Islands was awarded the Engineering Excellence Award for Resource Development by The Institution of Engineers, Australia, Queensland Division. For additional information, click here.

BHP (3 July 1999)

BHP has said its Ekati diamond mine in Canada has reached full capacity of 250,000 carats/month - and in May produced 308,000 carats.

Comalco (3 July 1999)

J.M.Huber Corp will conduct a feasibility study on the viability of restarting Comalco's kaolin operations at Weipa in Qld (closed in 1996 after 10 years of losses).

Consolidated Rutile / Iluka Resources (3 July 1999)

Cons Rutile ( a subsidiary of Iluka Resources) expects to reach full production at its Yarraman sand mining operation on North Stradbroke Island in November. The $37.8 million relocation of mining equipment to Yarraman from its Gordon mine is on schedule.
Production at its Ibis mine has exceeded target, but ilmenite output will be considerably lower due to the exhaustion of ilmenite stocks and a reduced market.
The 50%-owned Sierra Rutile mine in West Africa remains on care-and-maintenance.

Golden State Resources (3 July 1999)

Golden State says it and Helix Resources' Highway project near menzies in WA, could host 4.8 million tonnes of laterite nickel grading 1.24% Ni and 0.11% Co (at a 1% cut-off). Drilling has been completed on 10% of the 10km nickel target zone.

Horizon Mining (3 July 1999)

Horizon says it will issue 5 million shares and pay up to $100,000 to Supernet Browser and Novasoft Unit Trust for 15% of their new Internet Web 11 browser and content broadcast system.

North Limited / Robe River (3 July 1999)

North says Bryan Oliver, vice-president at Iron Ore Co of Canada, will succeed Bill Willis as executive director of Robe on 18 December.

St Francis Mining (3 July 1999)

St Francis says it will acquire unlisted Bluefire Gas in a deal which could see it generate revenues of almost $70 million within 5 years, issuing Bluefire shareholders 152 million shares.
Bluefire provides compressed natural gas, LPG and LNG for vehicles, generators and machinery.

BeMaX Resources (2 July 1999)

BEMAX LAUNCHES MAJOR BASIN DRILLING PROGRAM, BOOSTS EXPLORATION COFFERS

Murray Basin minerals sands explorer and developer BeMax Resources NL as operators will shortly kick off a major exploration drilling program on behalf of the Murray Basin Joint Venture at the promising Pooncarie prospect after bolstering its exploration coffers through a $485,000 placement.
The 18,700 metre program will focus on the Pooncarie South area in the northern Murray Basin , which yielded several significant discoveries in the December Quarter of 1998, and is designed to determine the dimensions and heavy mineral sand content of the many strands identified so far in the area.
BeMax, which is a key player in the rapidly emerging Murray Basin mineral sands province and one of the few junior companies still actively spending money on exploration in the current market, recently signalled a commitment to accelerate exploration and development of its extensive interests following the appointment of Mr Stephen Everett as its Managing Director.
Mr Everett said the drilling program would provide the first definitive indication of the dimensions and resource potential of the Pooncarie South prospect.
"Apart from the delineation drilling, the program also includes further reconnaissance drilling in this highly prospective area, as well as test drilling along strike from a number of pre-existing holes at the Gingko, Gallipoli and Laburnum prospects," Mr Everett said.
Mr Everett said the program was scheduled to begin on July 12 and would run for approximately 3 months. At the end of this period, BeMax and its joint venture partners at Pooncarie, Imperial Mining (Australia) NL (25%) and Probo Mining Pty Ltd (25%) are expected to approve the next stage of the exploration program.
BeMax also announced today that it had completed the placement announced on 4 June, raising $485,000 from unrelated private investors at 10 cents a share. The funds will be directed to exploration and assessment work on the Murray Basin projects.
In addition to the Pooncarie Joint Venture ground, the Company holds 100% interest in 2,086 square kilometres of granted tenements and a further 5,112 square kilometres of applications for which grant is expected shortly.

For additional information, including maps, click here.

BHP (2 July 1999)

BHP has sold its Hope Bay gold deposit in Canada to Cambiex Exploration for US$23 million. BHP retains the option to claw back an equity stake if it becomes a major producer.

Copper Price (2 July 1999)

Following last week's closures by BHP (amounting to about 200,000tpy copper) and yesterdays announcement by Phelps Dodge that it would cut its annual copper production by 68,000 tonnes, the copper price had its biggest 1-day gain since July 1971 - in New York, copper for July delivery rose 7.3% to US$0.7595/lb.

Woodside Petroleum (2 July 1999)

Woodside has lost the battle to acquire a stake in 2 Bass Straiot gas permits. Both Shell Australia and Santos subsidiary Crusader Victoria exercised pre-emptive rights to acquire 10% of the Kipper permit and 23% of the Basker-Manta-Gummy deposit held by The News Corp.

Aurora Gold (1 July 1999)

Aurora has denied an Indonesian media report that output at its Mt Muro gold-silver mine has been 'totally stopped' after it was stormed and occupied by angry villagers. Aurora says the mine is continuing normally.

Duke Energy / AGL (1 July 1999)

Duke has unveiled an aggressive pricing strategyto attract customersfor its $500 million eastern gas pipeline from Bass Strait to Sydney - in an effort to break AGL's virtual monopoly in NSW.

Gold Sales (1 July 1999)

A Wagner Associates survey for the World Gold Council says the general public is overwhwlmingly (2 to 1) against both the UK's sale of half of it's gold reserves and a plan by the US-controlled IMF to sell some bullion

Icon Oil (1 July 1999)

Pacific Mining Corp Normandy Mining (1 July 1999)

Pacmin announced a high-grade gold find close to the surface at the Chariot prospect at Tennant Creek in the NT. Better intersections included 14m @ 66.2 g/t Au, 9m @ 100.6 g/t, 15m @ 9.66 g/t, 10m @ 12.0 g/t and 11m @ 10.1 g/t. The mineralisation is hosted within a steep-dipping ironstone unit, 6-11m thick, which remained open below 250m depth and along strike. Pacmin's shares rose 14 cents to $1.60.

Yandal Gold (1 July 1999)

Yandal's controversial takeover of Great Central Mines is headed back to Federal Court after Edensor Nominees launched appeal proceedings.