Kirkalocka Gold Mine Explained

Kirkalocka
Pushpin Map:Western Australia
Pushpin Label:Kirkalocka Gold Mine
Pushpin Map Caption:Location in Western Australia
Coordinates:-28.6756°N 117.7619°W
Place:Mount Magnet
Subdivision Type:State
State/Province:Western Australia
Country:Australia
Owner:Adaman Resources
Acquisition Year:2018
Financial Year:2020–21
Amount:0
Opening Year:2002
Active Years:2002–2008
2019–2021
Module:
Stroke-Colour:
  1. C60C30
Stroke-Width:3
Marker:industrial
Marker-Colour:
  1. 1F2F57
Zoom:10

The Kirkalocka Gold Mine is an active gold mine located 70 km south of Mount Magnet, Western Australia. The mine had been placed in care and maintenance in 2008[1] but reopened for a brief period between 2018 and 2021. The mine's owner, Adaman Resources, was placed into administration in May 2021.

It was named after the nearby Kirkalocka sheep station.

History

Exploration at Kirkalocka has been carried out by a number of companies, including Sons of Gwalia, before Equigold Limited acquired the area in 2001.[2] [3]

Equigold, after constructing a plant, commenced mining in September 2002. Over the next six years, the company extracted 307,621 ounces of gold from the deposit, at a grade of 1.52 g/t. Equigold finished mining in October 2005, and continued milling broken ore stockpiles until 14 August 2008. The mine was placed in care and maintenance in September 2008.[2] [4]

Equigold Limited sold the Kirkalocka tenements to Mount Magnet South NL in April 2008.[5] The Kirkalocka plant, with associated infrastructure, was acquired by Mount Magnet South in a separate transaction in March 2009.[6]

In November 2015, Kirkalocka was sold to Minjar Gold Pty Ltd, a subsidiary of Shandong Tyan Home Co Ltd, a company listed on the Shanghai Stock Exchange.[7] [8] [9] [10]

The mine was purchased from Minjar Gold by a private company, Adaman Resources in 2017 for A$12 million.[11] Adaman recommenced mining in late 2018.[12] Adaman entered voluntary administration in May 2021, with the company believed to owe creditors more than A$100 million.[13] Administrators Cor Cordis announced a refinancing of the company in August 2021.[14]

Production

Production of the mine:

YearProductionGradeCost per ounce
2002–03[15] 45,375 oz1.64 g/tA$359
2003–04[16] 67,454 oz1.74 g/tA$341
2004–05[17] 59,367 oz1.94 g/tA$399
2005–06[18] 47,638 oz1.39 g/tA$384
2006–0737,472 oz1.07 g/tA$432
2007–0842,589 oz1.06 g/tA$423
2008–097,726 oz1.26 g/tA$292
2005–2018inactive
2018–19
2019–20
2020–21
2021–presentinactive

References

Bibliography

External links

Notes and References

  1. http://minedexext.doir.wa.gov.au/minedex/external/common/appMain.jsp MINEDEX website - Kirkalocka search result
  2. http://www.mountmagnet.com.au/IRM/content/projects_kirkalockaproject.html Kirkalocka Gold Project
  3. The Australian Mines Handbook: 2003-2004 Edition, page: 99
  4. Web site: Fourth quarter production report to 31 December 2008. ASX Announcements . Lihir Gold Limited. 7 March 2017. 18 January 2009.
  5. http://www.lglgold.com/asp/index.asp?pgid=10855 Kirkalocka site overview
  6. http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=mum&timeframe=Y&year=2009 Kirkalocka Plant Acquisition
  7. Web site: Sale of Kirkalocka Gold Project - Completion . ASX Announcements . Mount Magnet South Limited. 7 March 2017. 17 November 2015.
  8. Web site: Kirkalocka. Minjar Gold . 7 March 2017.
  9. Web site: Parent company . Minjar Gold. 7 March 2017.
  10. Web site: Third Quarter Production Report to 30 September 2008. ASXAnnouncements. Lihir Gold Limited . 7 March 2017. 28 October 2008.
  11. News: Chiat . Josh . 17 May 2018 . Big-name buyers see Kirkalocka as new Thunderbox . . . 25 April 2022 .
  12. Web site: Western Australia’s principal resources projects, 2018-19 . www.dmp.wa.gov.au . . 26 April 2022.
  13. News: Szabo . Richard . May 2021 . Mining company collapses after reportedly racking up huge debt . Queensland Mining & Energie. 26 April 2022 .
  14. Web site: COR CORDIS DELIVERS ANOTHER MAJOR MINING TRANSACTION – ADAMAN RESOURCES GROUP . www.corcordis.com.au . Cor Cordis . 25 April 2022.
  15. Web site: Annual Report 2003. ASX announcements. Equigold NL. 7 March 2017. 22 October 2003.
  16. Web site: Annual Report 2004. ASX Announcements. Equigold Limited. 7 March 2017. 13 October 2004.
  17. Web site: Annual Report 2005. ASX Announcements. Equigold Limited. 7 March 2017. 20 October 2005.
  18. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00754129 Preliminary Final Report