GOLD-COPPER MINING: Boddington is in business

WESTERN AUSTRALIA — The first gold has been poured and the initial copper concentrate shipment made at the Boddington mine belonging to Newmont Mining of Denver. At full production, this will be Australia’s largest gold mine.

The Boddington mine is a large open pit 130 km southeast of Perth within the Saddleback Greenstone Belt. Newmont believes Boddington has significant exploration potential, with gold reserves increasing from 16.6 million oz in 2007 to 20.1 million oz in 2008 and an expected mine life in excess of 24 years.

Source  :  www.canadianminingjournal.com

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Trading places on the net

Two WA businesses have joined forces to resurrect the 80s trend of home trading to give today’s buyers a new approach in the tough economic climate.
  
Tradehomes.com.au launched last week, in conjunction with OrangeTee Real Estate, to offer a forum where sellers can advertise their properties and negotiate an equal trade for other property, cash or any item with an asset value.
  
Common trade items include houses, land, vehicles, boats, gold, gems, stocks, bonds and jewellery, providing the traded assets total the value of the property’s price.
  
Trade Homes Australia director Kara Tripp said the service was nothing new but was giving a new breed of buyers and sellers a fresh option in a difficult market.
  
“At the end of the day, trading has always been going on behind the scenes, with people exchanging properties for properties etc; we are just creating a forum for people to do it,” Ms Tripp said.
  
“It is getting harder for some buyers to get finance so it is just thinking outside the box. If they have other assets, such as a boat, it is essentially turning that into property.” 
   

OrangeTee Real Estate was theexchanging properties for properties, providing support for traders at the negotiation and settlement stages.
  
“A lot of people get quite daunted when it comes to negotiating deals, so we thought it would be helpful to have experienced real estate agents on board, for people who like the idea but are not comfortable doing it themselves,” Ms Tripp said.
  
So far, one deal has involved the trade of an apartment for assets that included gemstones and gold.
  
REIWA president Rob Druitt said the practice was fine as long as it was well managed and researched, with all parties seeking the appropriate valuation and advice before entering into discussions.

 

LOUISE BAXTER  www.thewest.com.au

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Mutiny up on gold discoveries at White Well

Shares in WA explorer Mutiny Gold shot higher today after the company said it had found five new gold mineralisation zones at its White Well project east of Cue.

Mutiny said the White Well project covered 6.5 km of the Tuckabianna mineral belt, which had a total estimated resource of one million ounces over a strike length of 48km.

The White Well resource is estimated at 113,000 ounces of gold, which the company expects to enhance through further drilling and exploration.

White Well was abandoned by Newcrest Mining in the late 1990s and was acquired by Mutiny in the middle of last year. 

Mutiny Gold managing director John Greeve said he was confident White Well was a vastly underdeveloped resource.

Mutiny Gold shares were up 1.8 cents, or 64.29 per cent, to 4.6 cents at noon on low volumes.

STUART McKINNON

www.thewest.com.au

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