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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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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Bardoc Gold’s new CEO, Robert Ryan, says the company is optimistic it can get into production next year

Bardoc Gold’s new CEO, Robert Ryan, says the company is optimistic it can get into production next year and avoid the pitfalls that have plagued the local gold patch in recent times (reports MiningNews). Western Australia's Goldfields is littered with tales of collapse or underperformance, from Eastern Goldfields and Gascoyne Resources, Blackham Resources to Dacian Gold, and tiny Coolgardie Minerals (which went from listing through mining and administration within six months.

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Northern Star Resources has appointed two new directors to its board (reports MiningNews). Mary Hackett and Nick Cernotta will join the board as non-executive directors from July 1. Hackett is a mechanical engineer and experienced oil and gas executive, having spent 17 years at Woodside Petroleum. She was most recently vice president, Australia, New Zealand and PNG at Baker Hughes. Cernotta is a mining engineer and former Fortescue Metals Group director of operations.

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Plus, Sunstone chief upbeat on porphyry drilling with assays imminent and PolarX validates its exploration strategy with $70m Lundin deal

Pilbara Minerals (PLS) was the big lithium presence at this week’s Resources Rising Stars conference, where there was lots of discussion about Tesla wankers and whether the electric vehicle revolution was real. After braving unusually cold weather on the Gold Coast at a knees up the night before beneath giant tepees erected on the green at the RACV’s Royal Pines resort, Pilbara CEO Ken Brinsden told the assembled throng that it will only be a “matter of time before we all become Tesla wankers”.

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If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago

If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago, it would be a good way of describing events this week in the Australian gold sector. On the one hand, gold hit an all-time record of more than $A1900 an ounce, while on the other hand, three local gold miners suffered self-inflicted wounds that decimated their share prices.

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Upcoming Events

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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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