436 North Flinders Mines Ltd Primarily a coal, oil, gas, uranium and investment company, it holds copper and uranium prospects in the Flinders ranges of South Australia (1). At Gunsight Prospect it discovered uranium along with copper, cobalt and rare earths of "possible economic significance" (2).
It also has a prospect in the Pandanus Creek area of the Northern Territory where it reported in 1981 that results on the Una May prospect "have been discouraging" (2).
At Mount Victoria in South Australia it owns another uranium prospect with an estimated 66,000 tonnes of ore (3.0 to 3.3kg per tonne U3O8), but where mining would only be economically justified if prices rise to US$ 110/kg of U308 - ie twice the then current price.
It also owned a high-grade uranium deposit in the Willyama complex of the North Flinders range, north of Adelaide, South Australia (3).
In 1984, the Central Aboriginal Land Council agreed, after considerable discussion, to allow North Flinders to proceed with underground development of the Granites goldfield in the Tanami Desert, about 500km north-west of Alice Springs. The company was to pay the Council A$150,000 at commencement, and a similar sum when the decision to develop had been taken. A similar amount would go for community facilities, while the Council would get A$55,000 every 6 months. Mine life is estimated at 10 years. The company also applied for exploration permits covering another 10,000 square kilometres in the same area at the same time (4).
The Granites mine produced just over 87,000 ounces of gold in 1988/89, and a further mine was planned at nearby Dead Bullock soak. North Flinders also continued with other exploration in the Tanami desert region (5).
In 1990, the company decided to sell its 21.1 % interest in Paragon Mining and Exploration Co PLC to ACM Gold Ltd, as well as its stake in Poseidon Gold (5).
SOURCE: "The Gulliver File - Mines, people and land: a global battleground" by Roger Moody.
Published in 1992 by Minewatch, 218 Liverpool Road, London Nl ILE, UK, and WISE-Glen Aplin, Po Box 87, Glen Aplin Q 4381, Australia.
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