All tagged Tribune Resources ASX:TBR
Tribune Resources (ASX: TBR) has released its quarterly activities report for the period ended March 31. During the quarter, 253,065 tonnes of EKJV ore were processed at the Kanowna Plant, 37,869 tonnes of EKJV ore and 65,996 tonnes of R&T ore were processed at the Greenfields Mill.
Tribune Resources (ASX: TBR) has provided its quarterly EKJV Exploration Report. The EKJV is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie. The EKJV is between Rand (12.25%), Tribune (36.75%) and Northern Star Resources Ltd (51%). Exploration activity in the March 2019 quarter across the East Kundana Joint Venture consisted of in-mine exploration with underground drilling. Project work was completed on near-mine resource development targets, mostly Drake.
Tribune Resources (ASX: TBR) marked the December quarter as a busy period for the business, having acquired Singapore-based Prometheus Developments and assessed an unsolicited $112.5 million offer for Tribune's 36.75 per cent stake in the East Kundana Joint Venture.
Tribune Resources (ASX: TBR) has provided a December quarter report for the East Kundana Joint Venture (EKJV), of which it holds a 36.7 per cent stake. During the reporting period, the EKJV progressed a raft of exploration activities across its portfolio of prospects, with varying degrees of success found to-date.
Tribune Resources has rejected Northern Star's unsolicited $112.5 million offer for Tribune's 36.75% interest in the East Kundana Joint Venture. Northern Star has also made an associated unsolicited offer for Rand Mining Ltd's 12.25% interest in the EKJV, which has been rejected by Rand. Tribune's board of directors has concluded that the offer significantly undervalues Tribune's interest in the EKJV.
Tribune Resources (ASX: TBR) has wholly acquired Singapore-based Prometheus Developments by way of an all-scrip deal worth $24.7 million. Tribune will issue 5.5 million shares to the Prometheus vendors at $4.50 a share under the agreement. Prometheus has the right to acquire an 80% stake and a 40% legal interest in three mining tenements covering the Diwalwal gold project in the Philippines.
Gold miner Tribune Resources (ASX: TBR) has responded to investor feedback by declaring a $3.50 a share special dividend, fully franked. The dividend is being funded by Tribune's sale of its accummulated gold bullion holdings. The special dividend follows the payment of two smaller dividends since July last year by the company, which owns 36.75% of the East Kundana Joint Venture gold mining operation in the Goldfields.