News

Plus, the bulls are running on Highfields’ Spanish potash project after receipt of environmental permit

Persistence in the Chilean coastal range is about to pay off handsomely for ASX-listed Hot Chili (ASX:HCH). It has just reported a top-40 porphyry copper-gold hit at its recently optioned Cortadera project, near the iron ore mining town of Vallenar and 700km north of Santiago. It’s a game-changer, but first some history.

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Australian gold bugs will forever remember June 20, 2019, as the day when the local gold price cracked the once unimaginable $2000 an ounce barrier

Australian gold bugs will forever remember June 20, 2019, as the day when the local gold price cracked the once unimaginable $2000 an ounce barrier – while showing every indication of going higher. The effect on gold stocks was electric, despite ample evidence that the $2000/oz mark had been in sight all years thanks to the combination of the China v US trade war and falling US interest rates.

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Pure Alumina (ASX: PUA) is on track to acquire one of the world’s most efficient and effective processes for making high purity alumina (HPA), according to the man who is poised to become the company’s new managing director, Scott Nichol (reports Stockhead). Nichol is the founder and chief executive of Polar Sapphire, the Canada-based company which owns this world-leading HPA technology. Pure Alumina is now in the process of acquiring Polar Sapphire and, as part of the deal, Nichol will become Pure Alumina’s managing director.

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Venturex Resources has intersected high-grade copper within the first hole of a reverse circulation drilling program at its wholly-owned Sulphur Springs copper-zinc project near Port Hedland in Western Australia (reports Small Caps). Drill hole SSR007 hit several thick mineralised intervals such as 29m at 1.47% copper from 45m; 9m at 0.86% copper from 82m; and 31m at 3.24% copper from 94m, including 11m at 4.15% copper from 99m.

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Sydney-based institutional broker Blue Ocean Equities has maintained its 70c price target and “Top Pick” Buy rating on copper developer Venturex Resources (ASX: VXR) after the company reported “exceptional” assay results from the first of two in-fill drilling holes into the shallow portion of its Sulphur Springs deposit. The drilling is designed to upgrade a portion of the Inferred Resource into Measured and Indicated and the first hole returned spectacular assay results of 29m @ 1.47% Cu from 45m, 9m @ 0.86% Cu from 82m and 31m @ 3.24% Cu from 94m (incl 11m @ 4.15% Cu from 99m).

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Yet another report has raised concerns about the lack of gold discoveries in Australia (reports MiningNews). Australian research firm IBISWorld has flagged the lack of new discoveries over the past decade as a rising challenge. Known gold reserves have consistently declined amid high production and low replacement rates, with IBISWorld forecasting that Australia will produce 324 tonnes of gold in 2018-19, equivalent to 9.7% of global output.

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After shocking the market earlier this month with major production revisions at Mount Morgans, Dacian Gold has now unveiled a “new high grade gold discovery”

After shocking the market earlier this month with major production revisions at Mount Morgans, Dacian Gold has now unveiled a “new high grade gold discovery” featuring “outstanding” intercepts that include some of the “thickest and highest grade” mineralisation hit in the Westralia part of the Western Australian operation (reports MiningNews).

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Emerging gold miner Gold Road Resources has been forced to delay by a month first production from its $621 million Gruyere joint venture gold project

Emerging gold miner Gold Road Resources has been forced to delay by a month first production from its $621 million Gruyere joint venture gold project east of Laverton (reports The West Australian). Delays to the commissioning of the ball mill, part of the 8.2 million tonne-a-year processing plant, has prompted the Duncan Gibbs-led company to lower its 2019 calendar year production guidance from 100,000-120,000 ounces to 75,000-100,000oz. Gold Road said all-in sustaining costs were likely to be higher than the previously cited $1050-$1150/oz.

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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