Coppermoly get the drill

COPPERMOLY Limited (COY) is expected to start a diamond drilling program on its Mt Nakru project in Papua New Guinea, following delays due to higher than usual rainfall in the March quarter.

In the company’s technical report for the quarter, a Coppermoly spokesperson says Toronto-based Barrick Gold Corporation has started field operations on the company’s PNG tenements.

Coppermoly also plans further project acquisitions in PNG and has identified several copper belts on the island of New Britain, with two tenement applications underway.

The company recorded negative cash flows of $296,000 for the quarter, but still has $2.3 million for further activities.

Advertisement

Related Stories

Gilmour Space shooting for the moon with Momentus deal

Gilmour Space shooting for the moon with Momentus deal

Australian hybrid rocket developer Gilmour Space is shooting for ...

Ron Howard's new movie a $96 million boost for film industry

Ron Howard's new movie a $96 million boost for film industry

The Australian film industry will get a $96 million boost early ...

Viva Leisure raises $30m to pump up as gym junkies return in droves

Viva Leisure raises $30m to pump up as gym junkies return in droves

As gym junkies return in droves to its centres, Viva Leisure (ASX: ...

Pearl Global puts rubber on the road with Austek partnership

Pearl Global puts rubber on the road with Austek partnership

Industrial technology company Pearl Global (ASX: PG1) has teamed ...