News

Plus, success for Stavely and Alkane spark renewed interest in Eastern States exploration, talk suggests European Cobalt may be heading for Aussie gold and Meteoric poised to deliver eagerly-awaited assays on its Brazilian gold play.

A diamond being the ultimate item of discretsionary expenditure, there should be no surprise that diamond prices have been down in the dumps. Fears of global economic recession overlain with the threat of trade wars is not exactly conducive to buoyant demand and pricing for the sparklers. It is why the few listed diamond producers that exist around the world have being doing it tough on the share price front.

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Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens.

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens. A measure of the gap between strongly performing gold (and goldminers) could be gleaned from a unique mid-week piece of research by Macquarie Bank which looked at the damage done by the China v US trade war and past crises.

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Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead).

Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead). The new hole is 160m south of the discovery hole targeting the Thursday’s Gossan prospect. It returned assays of 8m at 9.69 per cent copper, 0.4 grams per tonne gold and 16.8g/t silver from 177m down-hole along with a shallower but thicker intercept of 59m at 1.8 per cent copper, 0.43g/t gold and 15.4g/t silver from 98m.

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Dacian Gold has reported a strong quarter of gold production from its Mt Morgans operation near Laverton in Western Australia (reports MiningNews). The open pit and underground operation produced 42,002 ounces of gold in the September quarter, up from 36,658oz in the June quarter. The result puts Dacian ahead of its half-year guidance of 67,000-77,000oz of gold. Mill reconciliation for the September quarter was 100.7%, up from 88.3% in the June quarter, with project-to-date mill reconciliation since first gold in March 2018 rising to 100.2%.

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Plus, whispers that Newmont is drilling two deep holes in NSW porphyry country fires up interest in neighbour DevEx while initial drilling at PolarX’s potential company-makers offers much encouragement

Veteran geologist Peter Langworthy has been promising to turn Gateway (GML) into a player in WA’s Murchison region ever since he arrived as MD at the former sleepy gold explorer. Langworthy has now started to deliver on the promise. Gateway has just announced a maiden resource estimate for the Whistler and Montague deposits at its  historic Gidgee project in WA of 3.4mt at 2.2g/t for 240,000oz of gold. It is a good start for the lightly-capitalised Gateway ($25m at 1.9c a share).

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Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie

Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie as it looks to expedite plans to bring it into production (reports The West Australian). The company yesterday unveiled a 17 per cent increase in its global resource, lifting it to 49.4 million tonnes at 1.9 grams per tonne for 3.02 million ounces of gold. Bardoc will use the resource and a recently announced $15 million capital raising to underpin a pre-feasibility study for its project due early in the new year.

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Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery

Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery (reports MiningNews). Phoenix Ridge has a maiden inferred resource of 481,000 tonnes at 8.1 grams per tonne gold for 125,000 ounces of gold, using a 2gpt lower cut-off. The resource is based on 24 diamond holes for 8200m of drilling.

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First drilling of the Mars prospect at PolarX’s Alaska Range project has hit porphyry-style veins containing visible copper, with the junior saying it was looking forward to further results from the “very exciting” target (reports MiningNews). PolarX is excited because of the potential significance of any discovery given "the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the geophysical anomalies at Mars". Assays are also awaited for potential gold content.

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