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  1. #1111
    Guru elZorro's Avatar
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    It's not so great across the Tasman, either.

    18/2/2015 — General
    Geoscience jobs continue to fall in Australia
    By Ross Louthean
    One of the major geosciences bodies in Australia has raised concerning statistics that also impact on professional employment in New Zealand.
    The Australian Institute of Geoscientists (AIG) this week released figures showing that unemployment for geoscientists was continuing to rise.
    The degree of the problem has been well shown in news reports showing massive cutbacks in the Pilbara iron ore fields and coal fields of Queensland and New South Wales.
    There is also the fact that more than 80 listed junior explorers on the Australian Securities Exchange (ASX) have “zombie” classifications – insufficient funds to last the next six months without considering exploration.
    AIG said its latest survey for the December quarter showed that an uptick in jobs in the previous quarter was short lived.
    The survey showed the unemployment rate among 666 respondents in the latest survey was 15.5%, a full 2% higher than the rate for the end of the September quarter. The under-employment rate in the latest survey among self employed geoscientists rose to 16.9% from 15.4% in the previous quarter.
    The unemployment rate of 15.5% was the second highest recorded since the AIG started this survey in mid 2009.
    “The combined unemployment and underemployment rate of 32.4% was also the second highest recorded by this survey,” the AIG said.
    Self-employed geoscientists continued to struggle with more than a third unable to secure more than 10% of their desired workload. Were these self-employed geoscientists to be considered to be essentially unemployed, the overall unemployment rate would be a staggering 21.3% - more than one in every five geoscientists in Australia today.
    The latest survey showed 12.2% of the geoscientists lost their jobs in the previous three months. Almost 40% had been unemployed for more than a year.
    The survey showed more than 66% of unemployed or under-employed geoscientsits were not confident of returning to full time employment in their chosen field within 12 months, and 6% were seeking alternate employment.
    “The increase in unemployment amongst Australia’s geoscientists in the final quarter of 2014 will be seen as very disheartening by many in the profession,” commented AIG president, Wayne Spilsbury.
    “The employment downturn, since it peaked at the end of 2013, has shown little sign of improvement whereas the GFC in 2008 to 2009 was a short, sharp event.
    “The current, continuing downturn appears to be a product of sustained depressed commodity prices which has dampened equity markets, contributing to a marked decrease in exploration funding that is essential to the sustainability of Australia’s minerals and energy resource industries and Australia’s continued economic prosperity,” Spilsbury added.
    Western Australia, which had been the boom State that also was a mecca for geoscientists and other mining professionals and skilled workers from New Zealand, has borne the brunt of the downturn.
    Spilsbury said that some promised incentives and initiatives from the Federal and some Australian State governments have failed to stop the rot.
    Another peak industry body, the AusIMM, has been raising concerns about the massive loss of jobs for its members, which include geoscientists, mining engineers and metallurgists.

    -elZorro-

  2. #1112
    Guru elZorro's Avatar
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    In the first bit of news since - well - months ago, Newmont has been officially awarded 50% of the Waihi West permit that was previously recorded as 100% Glass Earth's. No money would have changed hands, this is just a tidyup. Newmont can do a bit more work and gain 60% of the permit.

    https://www.nzx.com/companies/AXG/announcements/260911

    This is permit EP40767, NZPAM have not updated the records yet.
    Last edited by elZorro; 21-02-2015 at 09:06 AM.
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  3. #1113
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    A followup from the Newmont side: to inform the public what's going on, they have this info in NZResources:
    25/2/2015 — Gold
    Newmont outlines Waihi West role

    The North Island’s sole major hard rock gold miner, Newmont Waihi Gold said that with closure of the Martha open pit scheduled to occur next year, and the new Correnso underground mine having a known resource for only a few years, it makes sense for the company to advance a regional joint venture in the area.
    Newmont Waihi Gold (NWG) is a subsidiary of global gold miner Newmont Mining Corporation.
    The company has now earned a 50% stake in the Waihi West property of Antipodes Gold Ltd (TSX-V & NZAX: AXG).
    This property is adjacent to NWG’s Martha open cut which has been the biggest historic gold producer on the North Island, and it is also adjacent to NWG’s recently completed Trio underground mine.
    “What this means is that we have been funding and conducting the exploration work on and off since 2006, and this has now earned us a half share of the prospect and formalised the joint venture,” said NWG’s external affairs coordinator Kit Wilson.
    Wilson says this type of arrangement was normal in the mining industry where junior exploration companies such as Antipodes may hold a tenement and the right to explore or prospect in the area, but they do not have the financial backing to be able to conduct all the work.
    Newmont has the same joint venture agreement with Antipodes Gold at the Wharekirauponga (WKP) tenement on the Coromandel Peninsula.
    Kit Wilson said Newmont was currently conducting exploration drilling from the closed Trio mine under residential areas to the south-west in the Antipodes Gold tenement, and from inside the Martha open pit under farmland to the north-west in a tenement held by Newmont.
    “We have always said that we would like to be here for the long term. We also have always said that just because we are drilling in an area this does not mean that mining will follow. As an example, in the last three decades we have drilled just over 300 kilometres of core and developed just three mines. That’s enough drill core to stretch from Waihi to Coromandel town three times over.”


    Last I heard, the exploration dept at Newmont Waihi Gold had been severely reduced. They would still be able to use local drilling rig contractors to perform some drills from discreet sites, and this seems to be what they have done.

    Coincidentally, the Antipodes Gold website was unavailable last night, and is still down. Getting a makeover?
    Edit: no link to www.antipodesgold.com. Try www.antipodesgold.co.nz (that works). Not a free website anymore..



    Now I'm wondering that if Newmont is the third party looking over AXG, although at current share prices it could be anyone, their main interest could be that permit under part of Waihi Town. Yet there has been virtually nothing mentioned about this permit by GEL or AXG for years. Originally there was some mention of the aeromagnetic data in the area suggesting that there could be known gold veins from the east of the site extending into the permit. GEL were never allowed to make much noise about the permit, a directive from their JV partner. It has always been effectively in Newmont's control.

    From 2013: Newmont announced they were having a quiet look.

    http://www.newmont.com/files/doc_dow...est-200513.pdf
    Last edited by elZorro; 25-02-2015 at 06:08 PM.
    -elZorro-

  4. #1114
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    NZResources added some detail in May 2013.

    22/5/2013 — Gold
    Newmont Waihi evaluates South and West Waihi permits

    The community conscious miner Newmont Waihi Gold has detailed activity it has been undertaking on areas in Waihi with Glass Earth Gold Ltd (TSX-V and NZAS: GEL).
    Newmont Waihi said Glass Earth Gold holds exploration permit 40767 which covers a predominantly residential area south and west of the Martha mine.
    Newmont Waihi was conducting surveys on part of the permit where it can earn an interest by conducting work to an “agreed specified value.”
    Once this value is reached Newmont Waihi can formalise a joint venture agreement.
    There have been varying levels of interest in this area over the last 50 years with some drilling undertaken in the 1960s and other exploration since. Nothing of any interest has ever been identified.
    Newmont Waihi Gold was currently undertaking gravity surveys in Waihi West that involves a technician with a roving monitor spending about 10 minutes beside the road at each location.
    A gravity survey detects variations in the earth’s gravity field that indicate variable density of the rocks beneath the ground.
    For example, Newmont Waihi said, the Waihi Basin - the flat land to the south of Waihi - is characterised by a large circular gravity low that indicates that that area was once a large caldera, similar to Lake Taupo. The gravity low indicates that the Waihi Basin is filled to considerable depth with volcanic deposits that have a much lower density than the surrounding hills.
    There have been several gravity surveys carried out in the area previously, but they have not been evenly spaced. In some areas the survey points are close together and in other areas there is very little coverage.
    Where the stations are closer together more detail is apparent in the resulting processed data. This new survey will ‘fill in the gaps’.
    The current survey is attempting to improve the district-wide resolution to make it easier to interpret data. The copany said it was not expected the data will reveal details such as the presence of veins. It is aiming to assess whether some of the larger geological features interpreted from previous drilling can be detected through their gravity response.
    “Our work in Waihi West is one part of the exploration programme Newmont Waihi Gold is engaged in as we continue to determine what, if any, areas should be considered for further investigation,” the company said.
    “This is all part of the exploration process. It is lengthy and detailed, taking place over years rather than weeks or days. We are very used to acquiring what some may consider ‘discouraging’ results, but that is the nature of the activity.”
    Newmont Waihi said that in the Waihi West area of the permit the exploration there was not related to the company’s Correnso discovery closer to the Martha mine.
    “It is coincidental that the work in Waihi West was scheduled for this time. There is no connection between the Correnso announcement and the start of work in Waihi West.
    “We have not identified an ore body under Waihi West despite conducting exploration activities including drilling since 2006.
    “If the current exploration activities suggest there is merit in a closer look at the area we will employ other more precise techniques. At this stage, however, we have nothing to report other than routine investigations over a wide area.”



    -elZorro-

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