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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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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Chalice Gold Mines has backed up hopes its Julimar project just outside of Perth is the real deal with an airborne electro-magnetic survey pinpointing three new large anomalies (reports The West Australian).

Chalice Gold Mines has backed up hopes its Julimar project just outside of Perth is the real deal with an airborne electro-magnetic survey pinpointing three new large anomalies (reports The West Australian). The company said the results of the survey, released this morning, highlight the district-scale nickel-copper-palladium potential of the 26km-long Julimar complex, which lies 70km north-east of Perth near Toodyay. The results sent Chalice shares up almost 17 per cent to a new all-time high of $2.04 in early trade after emerging from a trading halt.

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25th September 2020

Calidus Resources has agreed to acquire Novo Resources Corp’s Blue Spec gold-antimony project for A$19.5 million cash (reports MiningNews).

Calidus Resources has agreed to acquire Novo Resources Corp’s Blue Spec gold-antimony project for A$19.5 million cash (reports MiningNews). The project, which has a historical resource of 219,000 ounces at 16.3 grams per tonne gold, is only 70km from Calidus' Warrawoona project, where early construction work started last week. The company is already reviewing the resource to upgrade it to JORC 2012. Blue Spec has shaft and decline infrastructure and was mined to 320m vertical depth, producing about 60,000oz of gold at over 25gpt.

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Kairos Minerals says “coherent and robust” gold anomalies, with values up to 118 parts per billion (ppb), have been identified across two large gold target areas at its Skywell project in Western Australia (reports Small Caps).

Kairos Minerals says “coherent and robust” gold anomalies, with values up to 118 parts per billion (ppb), have been identified across two large gold target areas at its Skywell project in Western Australia (reports Small Caps). Skywell is one of several projects within Kairos’ overall Pilbara gold ground. The anomalies were identified from soil sampling as well as gold pathfinder elements.

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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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