Kidman Resources Hits heights on High Grade Polymetallic Intercepts at Home of Bullion

Kidman Resources (ASX: KDR) has spurred the market on today with the release of significant high grade polymetallic mineralisation intersections from the first three holes of a 24-hole reverse circulation drilling program at its Home of Bullion project in the Northern Territory.

Shares reached an intra-day high of A$0.215 today, a 105% increase on yesterday’s closing price, on the exchange of over 20 million shares by 2pm (AEST).

Kidman acquired the Home of Bullion project in April this year and the results are from the company’s first reverse circualtion drilling program, designed to test for extensions of the previously reported high grade drill intercepts from the 1950s.

Adding more spice to the results, the mineralisation was identified close to surface providing the potential for an open pittable resource.

Highlight assays returned were:

- 4 metres at 4.7% copper, 5.1% zinc, 84.6 grams per tonne (g/t) silver, 1.3% lead, 0.52g/t gold
(4 metres at 7.7% copper equivalent) from 49 metres in hole HRC020;
- 3 metres at 1.9% copper, 4.7% lead, 2.2% zinc, 204g/t silver, 1.13g/t gold (3 metres at 6.2% copper equivalent) from 25 metres in hole HRC002; and
- 3 metres at 2.7% copper, 2.3% zinc, 45.5g/t silver, 0.45% lead, 0.46g/t gold (3 metres at 4.9% copper equivalent) from 208 metres in hole HRC009.

The high grade Main lode now has an identified strike length of about 170 metres and potentially extends further east under cover.

The outcome of the results is that hole HRC020 confirms previous high grade drill intercepts at the Home of Bullion Main Lode, while Hole HRC002 confirms the oxide potential and includes very high grade silver of up to 204g/t.

This has prompted Kidman to accelerate its exploration efforts at the Home of Bullion project with the company now planning a follow up program to begin in September.

Further adding to the potential of the Home of Bullion project, magnetite has also been identified in the ore, which is significant as it allows for successful geophysics surveying to define strike extensions to the ore body under shallow cover.

A detailed airborne magnetic survey will begin before end of August to define further drill targets across the entire tenement.

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Gold Prices Boost Newcrest Profit

NEWCREST Mining's full year profit is up 23 per cent due to rising gold prices and the company expects gold production to rise in the current financial year.

Newcrest today posted a net profit of $1.12 billion for the year to June 30, up from $908 million in the previous corresponding period.

Revenue of $4.4 billion in the year to June was an eight per cent increase on the previous year's $4.1 billion.

Newcrest produced 2.29 million ounces of gold in the year to June, a drop of 10 per cent on the previous year.

The company said it expected production in the 2012/13 financial year to be in a range of 2.3 million to 2.5 million ounces.

Copper production in the year to June of 76,015 tonnes was up one per cent on the previous year.
Newcrest said it expected copper production in 2012/13 to be in the range of 75 thousand tonnes to 85 thousand tonnes.

The statutory profit was a record for Newcrest.

Its underlying profit of $1.1 billion, up two per cent from last year, was also a record.

The difference between the headline and underlying profits related to $46 million gained from the sale of two Queensland projects to Evolution Mining during the year.

Newcrest benefited from a higher realised gold price for the year of $1,609 per ounce, which was 17 per cent or $231 per ounce higher than the previous year.

Elsewhere, cost of sales increased by nine per cent to $2.601 billion, its gold sales fell by six per cent to 2.3 million ounces and production was down 10 per cent.

The company blamed the cost hikes on increased mining activity pushing up the cost of labour, fuel and energy, and negative currency exchange factors.

Newcrest says it plans to pay a final ordinary dividend of 23 cents per share (15 per cent franked), bringing the total to 35 cents per share, 17 per cent higher than the prior year.

It's interim distribution of 12 cents was unfranked.

2014 FIFA World Cup Brazil™ 0.5g Gold Proof Coin - Perth Mint Australia

2014 FIFA World Cup Brazil™ 0.5g Gold Proof Coin featuring:

• Proof Quality 99.99% Pure Gold
• Stunning Reverse Design
• Australian Legal Tender
• Extremely Limited Mintage – 7,500
• Numbered Certificate of Authenticity
• Souvenir Presentation Packaging

The FIFA World Cup is the ultimate competition for any football fan. The Perth Mint is thrilled to present this official licensed product for the 2014 FIFA World Cup Brazil™.
Celebrating the Australian team, this fantastic souvenir struck in gleaming gold makes a fantastic gift or memento of this much-anticipated event.

Proof Quality 99.99% Pure Gold

The coin is struck by The Perth Mint from 0.5g of 99.99% pure gold.

Original Reverse Design

The coin’s reverse depicts a representation of a soccer player incorporating an Aboriginal motif and a map of Australia. The design also includes the inscription 2014 FIFA WORLD CUP BRAZIL™ and The Perth Mint’s ‘P’ mintmark.

Limited Mintage

The Perth Mint will release no more than 7,500 coins.

Australian Legal Tender

Issued as legal tender under the Australian Currency Act 1965, the coin depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse.

Souvenir Presentation Packaging

The coin is presented in a prestigious display case and souvenir shipper that includes a specially designed numbered Certificate of Authenticity.