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Those being nibbled, with some success, it must be said, include Legend Mining, Bardoc Gold, Alice Queen and Strandline Resources.

There are tentative signs that bottom feeders are stepping up their activity in the junior exploration/developers space. They are nibbling away at those stocks with smashed values (all of them) but which stand out as leveraged plays to the upside thanks to their quality projects and because they have the cash to make things happen. The step-up goes to the idea that as explorers are explorers, and future developers are future developers, they don’t have to worry about the widespread impacts and uncertainties caused by COVID-19 like the miners do.

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Northern Star had a rough day out when it updated the market on the production impact of the unavoidable disruption caused by the COVID-19 pandemic...

Northern Star had a rough day out when it updated the market on the production impact of the unavoidable disruption caused by the COVID-19 pandemic, and how it was protecting itself from the worst-case scenario of prolonged mine closures (reports Barry FitzGerald on MiningNews). The overriding aim of the update was to demonstrate the company was on top of the critical need to protect its people and its corporate self, and those who live in its host communities in Western Australia and Alaska, from the dangers posed by the pandemic.

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Gold stocks are in the spotlight as the precious metal rallies, the Australian dollar falls and low yields bolster bullion's attractiveness as an investment (reports The Australian Financial Review). Three leading brokers have highlighted their favourite gold stock picks amid renewed strength in the precious metal and as the weak Australian dollar boosts cash flows, though travel restrictions in Western Australia could challenge production.

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High-quality discovery news, successful capital raisings and confident buy tips have been rare commodities over the past month, but the past few days have seen signs of normality returning to a badly-bruised resources sector.

High-quality discovery news, successful capital raisings and confident buy tips have been rare commodities over the past month, but the past few days have seen signs of normality returning to a badly-bruised resources sector. It wasn’t all good news, it never is, with leading gold producer, Northern Star, suffering a “coronavirus-related” setback which rubbed the gloss off its share price.

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Gold miner Red 5 (ASX: RED) is set to test investor appetite for emerging gold projects with what is understood to be a $125 million raising to help fund development of its King of the Hills gold project near Leonora (reports The West Australian).

Gold miner Red 5 (ASX: RED) is set to test investor appetite for emerging gold projects with what is understood to be a $125 million raising to help fund development of its King of the Hills gold project near Leonora (reports The West Australian). WestBusiness understands the raising, in two tranches with the second subject to shareholder approval, will be priced at 18¢, representing a 23.4 per cent discount to its closing price on Wednesday of 23.5¢.

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Bellevue Gold has raised $26.5 million in a share placement at 30¢-a-share, a 7.7 per cent discount to its last price (reports The West Australian). The Steve Parsons-led company said the proceeds would be used to fund ongoing infill and resource extension drilling at its Bellevue gold project in WA, where it has inferred resources of 2.2 million ounces at 11.3 grams per tonne, and economic studies. Bellevue is scheduled to release its maiden indicated resource next quarter.

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Gold exploration success De Grey Mining has confirmed its expectation of becoming a producer by appointing mining engineer Glenn Jardine as its managing director (reports MiningNews). Jardine's fixed remuneration will total A$362,500 per annum, with both Simon Lill and Andy Beckwith continuing in their roles as chairman and technical director respectively.

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Plus, Alkane and Chalice tantalise investors with exploration trading halts, DGO ups its stake in De Grey as the Hemi gold find continues to grow, Bardoc PFS boasts strong margins and Apollo and Musgrave set for re-rating.

Gold has not been immune from the extreme volatility that has gripped commodity and equity markets alike since the COVID-19 panic got going on January 22, in US dollar-terms at any rate. But thanks to the collapse in the US exchange rate in the same period from US68c to US57c, the Aussie gold price has actually moved into record territory, having put on 17% to an amazing $2660/oz. Now that hasn’t mattered much when it comes to Aussie gold equities. They are being smashed along with the rest of the market.

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