Regional News - Asia September 2017

Thai Government Lifts Suspension of Chatree Mine

Recently, representatives of Kingsgate Consolidated Ltd. met with representatives of the Royal Thai Government to discuss a possible settlement of the company’s claims against the Kingdom of Thailand under the Australia-Thailand Free Trade Agreement (TAFTA).

Shortly before the meeting, the company was informed that the Thai government had lifted the “temporary suspension” of the Chatree mine, which is operated by the company’s subsidiary, Akara Resources Public Co. Ltd. Further, Kingsgate was advised that Akara’s application for renewal of its metallurgical processing license, which expired on December 31, 2016, could now be processed.

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Major Equipment Arrives at Amulsar

This week, Lydian International said major equipment components have arrived at its Amulsar gold project in Armenia. Major pieces of equipment for the crushing plant, including the jaw crusher, a secondary cone crusher, rock breaker, pan feeders, and screen liners have all arrived at the site. The material handling system includes crushing and screening equipment and the overland conveyor, all supplied by Sandvik. Components have been shipping since the second quarter of 2017 as fabrication is completed. Modular steel structures for the overland conveyer and other structural steel components are arriving on site and this will continue throughout the third quarter.

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Regional News - Asia August 2017

Eldorado Provides Update on Kişladağ

Eldorado Gold provided an update on its Kişladağ gold mine in Turkey. A low-grade, bulk-tonnage, open-pit operation that uses heap leach for gold recovery, Kişladağ has been in operation since 2006 and is Turkey’s largest gold mine.

While the mine has placed the expected amount of ore on the leach pad, the gold solution grade and, consequently, gold recovery from the leach pad has recently lagged projections. Recent laboratory and in situ tests where solution chemistry has been adjusted have indicated normal recovery rates are still expected. More time, however, is now required to adjust the overall pad solution chemistry and allow solution to flow through the current stack height of the leach pad, which is at approximately 80 meters (m) at the highest point.

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Macmahon Approves Batu Hijau Transaction

At a general meeting held in Perth on June 9, Macmahon shareholders voted overwhelmingly in favor of a proposed transaction with Indonesian-based mining company PT Amman Mineral Nusa Tenggara (AMNT). The AMNT transaction will see Macmahon awarded a life-of-mine, alliance style contract to provide earthmoving and mining services at AMNT’s Batu Hijau copper-gold mine in Indonesia. Macmahon will acquire existing mobile mining equipment from AMNT and will, in return, issue new shares to a subsidiary of AMNT.

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Centerra Provides Update on Arbitration

An arbitrator has issued an order providing certain interim relief to Centerra Gold in its ongoing arbitration against the Kyrgyz Republic and Kyrgyzaltyn JSC in connection with the Kumtor project. The interim relief, among other things, orders the Kyrgyz Republic to give 30 days’ prior notice to the arbitrator and Centerra in the event of resumption of the claims brought by Kyrgyz government entities in Kyrgyz courts relating to alleged environmental harm, dividends and land use; directs the Kyrgyz Republic to give immediate notice to the arbitrator and Centerra if any procedural action is taken in the Kyrgyz court proceedings; and orders the Kyrgyz Republic to use its best efforts comply with her decision.

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Regional News - Asia July 2017

Amulsar Gold Project Moves Ahead

Lydian International Ltd. recently announced that construction at the company’s 100% owned Amulsar gold project is proceeding as planned. As of May 31, project commitments totaled $213 million. Infrastructure construction power and water are in place, access roads are complete, the construction warehouse has been erected, and detailed design and fabrication of the electrical distribution equipment are in process. Renovations to a local 250-bed hotel used for initial worker accommodations are complete and the 680-bed permanent residence camp is expected to be completed and occupied this summer.

Advancing site earthworks continues to be the priority. Work is complete on both primary site access roads, the Adsorption Desorption Refining plant platform, the construction warehouse platform, and the heap-leach facility temporary sediment dam. Earthworks and construction activities have commenced on the platform for the crushing and screening plant and in other areas at higher elevations.

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Regional News - Asia June 2017

Macmahon Advances Service Agreement for Batu Hijau

Macmahon and PT Amman Mineral Nusa Tenggara (AMNT) have signed a binding agreement for mining services for the Batu Hijau copper-gold mine in Indonesia. The alliance-type agreement exchanges shares of Macmahon for one of the largest mining fleets in Indonesia. The agreement includes cost-plus payments with upside and downside sharing over the 14-year life-of-mine plan with the potential to extend the scope of work to include significant future development options. Macmahon has successfully operated in Indonesia since 2008 with existing projects at Martabe and Lhoknga, and sees this deal as a game changer for the company.

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Freeport Lays Off Striking Grasberg Miners

PT Freeport Indonesia has reportedly laid off striking miners at its Grasberg operation. On May 1, more than 10,000 miners who are represented by the Chemical, Energy and Mines Workers Union (CEMWU) embarked on 30 days of strike action in protest of the company’s furlough policy. Contractors joined the strike on May 9. The company declared the strike illegal, and announced that striking workers would be considered absent without leave. Any worker absent for five days would lose their job. So far, 178 workers have been terminated.

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