News updates on R3D Resources, Stanmore Resources, Hammer Metals, the Australian Constructors Association and more …

R3D Resources is conducting a capital raising, targeting $3.3 million including a $1 million private placement, to fast-track its Chillagoe copper project.

“We are making significant progress on the refurbishment of our copper sulphate plant with initial
production still expected to commence production in 1H FY2023,” R3D managing director Steve Bartrop said.

“The company has decided to take advantage of the current market sentiment created by potential supply disruptions with the Ukraine conflict to seek additional funding to accelerate the time frame to production.

Stanmore Resources has executed a binding commitment letter for a $110 million facility to kick in after completion of its acquisition of an 80 per cent stake in BHP, expected in May.

The company intends to utilise the BMC facility for security required under some long term contracts
such as rail and port agreements for the Poitrel and South Walker Creek operations with various service
providers, and for working capital if and when required at a BMC level.

Hammer Metals has kicked off a new phase of diamond drilling at the Mount Isa East joint venture tenements with key targets to be tested including the Mount Philp IOCG target (work partly funded by the Queensland Government Collaborative Exploration Initiative (CEI) grant).

It will also focus on the Trafalgar copper gold system, where trial IP (Induced Polarisation) surveys successfully identified zones of copper mineralisation.

Drilling completed in February intersected broad zones of shallow copper-gold mineralisation in all holes drilled at the six targets along the 4.5km long Trafalgar trend.

Fulton Hogan chief executive officer construction Australia Duncan Gibb has been appointed as the new president of the Australian Constructors Association board.

“The construction industry has been tasked with rebuilding the economy and now is the time to seize the opportunity to leave a lasting legacy,” Mr Gibb said.

Mr Gibb replaces Cathal O’Rourke, who has served as president since November 2020.

South Burnett Regional Council is seeking offers for the provision of a suitably qualified company to provide assessment and project management of repair work to be undertaken on Gordonbrook Dam’s ogee weir spillway structure.

Offer documents can be downloaded by registering on the council’s Tenderlink tendering platform. Registration instructions and links can be found on the council’s website under Tenders & Supply. (Tenderlink Ref: BURNET-1014176)

Tableland Regional Council is in the final stages of preparation before the commencement of the replacement of Duncan Brown Bridge on Mary St in Malanda.

Cr Dave Bilney said work should start in the next few months and the new bridge would have two lanes and pedestrian access.

Meanwhile, the replacement of the bridge over Williams Creek on Merragallan Road is well underway after a slow start caused by extremely hard rock.

The total cost of these projects is $3.4 million and they are jointly funded by the Australian Government, under the Bridges Renewal Program, and he council.