Sedgman Progress Claim Rejected and Heron Claims Liquidated Damages

Heron said that Sedgman had claimed additional costs of AU$22 million and forecast costs of AU$28 million to the end of March 2019 over and above the Gaurunteed Maximum Price (GMP) agreed under the contract.

Heron Resources (ASX:HRR) has said that following an assessment of the progress claim submitted on 1 February 2019 by Sedgman, a wholly owned CIMIC Group Limited company, for additional costs of AU$49.9M, the Contract Superintendent has – with the exception of some minor agreed contract works totalling AU$223,057 – rejected the Sedgman progress claim.

Heron said that Sedgman had claimed additional costs of AU$22 million and forecast costs of AU$28 million to the end of March 2019 over and above the Gaurunteed Maximum Price (GMP) agreed under the contract.

As quoted in the press release:

Sedgman is attempting to circumvent the GMP through the submission of a list of 22 alleged variations claiming for unsubstantiated costs. The Contract Superintendent has determined that the majority of the variations either have no merit, or are time barred under the EPC Contract, and in some cases refer to events that predate the parties entering into the EPC Contract. The contract works agreed by the Contract Superintendent since the previous progress claim total AU$223,057 and were requested by Heron during the construction phase.

Heron said that in assessing Sedgman’s progress claim, delay liquidated damages (LDs) have been applied as a result of the later than planned completion of the processing facility. With the inclusion of the delay LDs the assessed payment schedule finds Sedgman owing Heron and the company will seek payment in accordance with contract provisions. Heron continues to hold $10.8M in bank guarantees from Sedgman.

Click here to read the full Heron Resources (ASX:HRR) press release.

When Will Australia Legalise Recreational Cannabis?

Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?

So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.

Read on to learn more about when Australia may legalise recreational cannabis.

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Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

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Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

AIS Resources’ Australian Yalgogrin Gold Project’s first drill hole returns gold intercepts averaging 1.5g/t over 87 meters including 0.9 meters at 9.3 g/t

A.I.S. Resources Limited ( TSX: AIS, OTCQB: AISSF ) (the “Company” or “AIS) reports that the assay analysis from YDD1 at Neighbour’s Farm historic mine workings, the first diamond drill hole at its Yalgogrin Gold Project, NSW, Australia has been completed by SGS Australia. Extensive gold mineralisation was intersected from 58m through to the end of hole at 162.3m with gold mineralisation remaining open at depth and returning gold Intercepts over 87m averaging 1.5gt. The best individual grades returned up to 9.3 gt Au that are supported by consistent mineralisation hosted within the altered rock mass.

A summary of the intervals and average assays is set out below from the top of the core:

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Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

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