News

2022

Gina Rinehart is set to share in a Eureka! moment of sorts towards the back end of the year when Catalyst (CYL) releases a maiden resource estimate for its virgin Four Eagles gold discovery beneath Murray Basin sediments north of Bendigo. The Catalyst-Hancock partnership has also made another virgin discovery beneath cover at Boort, 100km north-west of Bendigo. Scout drilling picked up a possible 1km trend of gold mineralisation at one of four gravity targets tested with the drill bit. Ms Rinehart’s involvement is through Hancock Prospecting, which is a 50% joint venture partner with Catalyst, as well as a 12.5% shareholder.

Catalyst Metals (ASX:CYL) is working towards a maiden JORC resource estimate at its Four Eagles gold project in Victoria to underpin a decision on an exploration tunnel. first reconnaissance air core drilling program at the company’s Boort exploration licence, which is a 50/50 joint venture with Gold Exploration Victoria (a subsidiary of Hancock Prospecting ), has encountered a possible trend of gold mineralisation at least a kilometre long that will require further testing.

Brisbane 27th April, 2022

Senex Energy hosted a function to celebrate the new ownership of the company under POSCO International Corporation and Hancock Energy Corporation.

Australian gas prices, especially along the eastern seaboard, have also been trending up and look like rising further as demand outstrips supply, which is why Gina Rinehart, one of Australia’s richest people dived into the gas market last year as a partner with Korea’s steel giant Posco in the takeover of Queensland gas producer Senex Energy. Rinehart’s move on Senex was well timed with oil trading around US$70 a barrel when it was first reported to US$105/bbl today.

Lest we forget.

High commodity prices are masking deep-seated problems in the world’s big mining companies were a combination of cost inflation, supply-chain tightness, and shortages of everything is starting to bite. Reports covering March quarter production, scheduled to start flowing this week, might throw fresh light on the size of the challenge confronting BHP, Rio Tinto and other leading miners which are currently enjoying strong investor support because of near-record prices for most of their output.

16 April 2022.

The world-class Roy Hill operation in Western Australia’s Pilbara region is a perfect example of Executive Chair Gina Rinehart’s example of the next generation of integrated iron ore mining, rail and port projects. One of Australia’s single largest iron ore mines, Roy Hill is delivering enormous economic benefits to the Western Australian and Australian communities. Roy Hill provides employment to over 2,800 employees, plus a number of contract suppliers and service providers.

Legacy Iron Ore and Hawthorn Resources revealed this week that a wholly-owned subsidiary of mining magnate Gina Rinehart’s Hancock Prospecting, Hancock Magnetite Holdings, had earned its 30% stake in the Mt Bevan iron ore project in WA’s Central Yilgarn. The news sent both Legacy and Hawthorn’s share prices skyrocketing on Thursday.

Legacy Iron Ore (ASX:LCY) and Hawthorn Resources (ASX:HAW) said Hancock Magnetite Holdings has executed the earn-in agreements into the Mt Bevan iron ore project. After the earn-in, Hancock will hold 51%, Legacy will hold 29.4% and Hawthorn will hold 19.6% of the project. Work programs will then be undertaken with the intention of further advancing the project to a bankable feasibility study. Hancock has appointed Atlas Iron as the manager of the new joint venture.