Tag Archives: Aldiss

Macmahon Holdings renews ties with Vault Minerals at Daisy Milano gold mine

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Macmahon Holdings Limited says it has been awarded a two-year contract extension by Vault Minerals (formerly Red 5) at the Daisy Milano gold mine within its Mount Monger operation in the Kalgoorlie region of Western Australia.

Macmahon has been providing underground mining services at Daisy Milano since acquiring the contract earlier this year as part of the takeover of the Pit n Portal (PnP) underground services business from Emeco Holdings Ltd, including mine development, production charging and load and haul services.

The two-year contract extension to October 2026 is expected to add approximately A$90 million ($58 million) of revenue towards Macmahon’s secured orderbook and will utilise
existing fleet as required for the project.

Macmahon CEO and Managing Director, Michael Finnegan, said: “We are delighted to continue working with the team at Daisy Milano and building on our valued relationship with Vault Minerals. We are focused on continuing to drive safety and performance outcomes for our client.”

In the 2024 financial year, the Mount Monger operations delivered total gold sales of approximately 97,000 oz at an all-in-sustaining-cost (AISC) of A$2,176/oz. The three mining centres – Daisy, Mount Belches and Aldiss – produced approximately 657,000 t of ore at an average grade of 3.9 g/t Au from underground sources and approximately 67,000 t of ore at an average grade of 0.93 g/t Au from open-pit sources.

Silver Lake Resources chooses hybrid option for Aldiss gold development

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Gold miner Silverlake Resources has decided to take a “hybrid owner-operator” model at its Aldiss project in Western Australia as it looks to speed up development and boost profitability.

Aldiss is comprised of the Harry’s Hill, Karonie and French Kiss deposits, which have an aggregate ore reserve of 2.87 million tonnes at 2.2 g/t for 203,000 ounces.

Topsoil and overburden removal commenced at the first of Aldiss’ deposits, Harry’s Hill, in the June quarter, while infrastructure works, including construction of a 36 km road, administration offices, 80-man camp, power and communications infrastructure are well advanced, according to the company.

This means the company is on track for first ore delivery to the mill in the December quarter.

As part of the hybrid owner-operator model, all major earthmoving equipment has been “dry hired” with Silverlake providing all operating labour.

“The adoption of this model (as opposed to engaging a mining contractor) results in an accelerated mine plan and an improvement in project margins and NPV,” the company said.

Once infrastructure is established and target mining rates achieved at Aldiss, the focus will shift, in the first six months of 2019, to evaluating several near surface exploration targets along what Silverlake calls the “SAT” trend.