News

Meanwhile in Ecuador, anticipation builds around a possible BHP or Newcrest bid for SolGold and Sunstone looks set to rise on back of Bramaderos project.

There is a bunch of hopefuls on the ASX looking to become producers of high purity alumina (HPA), which is set to enjoy super-charged growth in demand for its use in LED lighting and as a heat separator in lithium-ion batteries. But it is FYI’s planned $198m integrated project in WA – it envisages the Cadoux kaolin mine 220km north-east of Perth supplying a HPA refinery at Kwinana – that has got the interest up of the king of metal-grade and chemical-grade alumina production, Alcoa. As far as project endorsements go, FYI could not have hoped for a better one.

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Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks.

Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks. Best in class was undoubtedly Chalice Gold Mines, which continued its stellar run as analysts and investors gained a greater insight into its emerging Julimar platinum group metals (PGM) discovery near Perth.

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Firefly has followed up maiden ‘bonanza’ grade gold hits at its Yalgoo project with much wider intercepts and even more shallow high-grade gold (reports Stockhead).

Firefly has followed up maiden ‘bonanza’ grade gold hits at its Yalgoo project with much wider intercepts and even more shallow high-grade gold (reports Stockhead). Just last week Firefly Resources (ASX:FFR) reported it had hit a ‘bonanza’ 1,439.55 grams per tonne (g/t) gold from just 51m in its very first drilling at the historic Yalgoo project in Western Australia.

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Diversified explorer RareX (ASX: REE) has identified “numerous” targets on its wholly-owned Byro East project in Western Australia

Diversified explorer RareX (ASX: REE) has identified “numerous” targets on its wholly-owned Byro East project in Western Australia that highlight the potential for nickel-copper-platinum group element (PGE) discoveries similar to the nearby Julimar discovery (reports Small Caps). According to the company, a recent review of geological data has highlighted the presence of ultramafic intrusions within the Narryer Gneiss Complex including extensions of the enigmatic Milly Milly intrusion.

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Canadian mining entrepreneurs Frank Giustra and Ross Beaty can’t see any end in sight to the gold bull market (reports MiningNews).

Canadian mining entrepreneurs Frank Giustra and Ross Beaty can’t see any end in sight to the gold bull market (reports MiningNews). The two had a "freewheeling" keynote chat in Vancouver to close the 2020 Gold Forum Americas, which was held virtually for the first time due to COVID-19. Giustra, who had a hand in the formation of Goldcorp, Endeavour Mining and Leogold Mining, said the Federal Reserve was in "forever money printing mode" and the US was in a black hole, with government debt expected to reach US$5 trillion by the end of the year.

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Kingston Resources (ASX: KSN) has reported the pre-feasibility study (PFS) for its flagship Misima gold project in Papua New Guinea is advancing on schedule

Kingston Resources (ASX: KSN) has reported the pre-feasibility study (PFS) for its flagship Misima gold project in Papua New Guinea is advancing on schedule, with 60% design completion achieved (reports Small Caps). Misima is one of the oldest mines now to be on the brink of revival with gold having been discovered on the PNG island in 1888.

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The shake-up of the gold industry begun by the Randgold and Barrick Gold merger in 2018 is not yet finished, Barrick CEO Mark Bristow told delegates during his keynote at the 2020 Gold Forum Americas (reports MiningNews).

The shake-up of the gold industry begun by the Randgold and Barrick Gold merger in 2018 is not yet finished, Barrick CEO Mark Bristow told delegates during his keynote at the 2020 Gold Forum Americas (reports MiningNews). Bristow said industry consolidation needs to continue so that tier one assets move into the hands of the best mining companies. "What I shared with the market [the Barrick and Randgold merger] at this forum in 2018 created some dilemma and it has really changed the industry," he said.

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Investors are clearly anticipating good news from Chalice Gold Mines, sending its stock up 11 per cent yesterday to an all-time high before the company called a trading halt (reports The West Australian).

Investors are clearly anticipating good news from Chalice Gold Mines, sending its stock up 11 per cent yesterday to an all-time high before the company called a trading halt (reports The West Australian). The explorer, chaired by Tim Goyder, pictured, has been one of WA’s market darlings this year since its March unveiling of a curious discovery at its Julimar project, just 70km north-east of Perth. Chalice hit 19m at 8.4g/t palladium, 2.6 per cent nickel and one per cent copper in its first hole at Julimar with subsequent drilling results continuing to impress.

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