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Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade

Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade Aphrodite deposit (reports Small Caps). The study evaluated Bardoc’s new strategy to bring forward production from Aphrodite, which will require more initial capital expenditure of $232.4 million compared to the $177.4 million outlined in the definitive feasibility study that was published in March.

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Gold hits have continued for Kin Mining (ASX: KIN) at its flagship Cardinia gold project near Leonora in Western Australia, with drilling at the nearby newly discovered Eagle-Crow prospect also returning wide high-grade zones (reports Small Caps).

Initial reverse circulation drilling at Eagle-Crow, which is 2km west of Cardinia has unearthed up to 17m at 3.75 grams per tonne gold from 43m, including 4m at 5.45g/t gold from 43m and 3m at 12.9g/t gold from 54m; 6m at 4.19g/t gold from 130m; and 5m at 3.1g/t gold from 55m. Kin noted these RC results follow on from aircore drilling hits at the prospect earlier this year. The results also confirm mineralisation over 500m of strike at Eagle and two zones of 400m each at Crow.

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And Iluka’s bullish assessment of mineral sands prices is good news for Strandline as it ramps up construction of its Coburn project in WA.

It is hard to move the dial when market caps are $8-$20 billion like they are for the leading gold producers. They rely on the gold price to create share price momentum, and when the gold price is going through a consolidation phase at lower levels like it is now, that momentum is to the downside. It is against that backdrop that gold IPOs are attracting greater investor interest than the performance of the leading gold stocks – and gold’s retreat to below $US1800/oz – might have you believe.

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Battery metals, led this week by nickel, continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting

Battery metals, led this week by nickel, have continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting. The gathering of bankers in the Wyoming ski resort of Jackson Hole could be the setting for the Federal Reserve chairman, Jerome Powell, to reveal his plans for winding back monetary support for the U.S. economy.

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Shares in Mincor Resources hit a 10-year high after the company reported its second nickel discovery this week (reports MiningNews).

The company drill tested the Location-1 target, which sits in a 3km untested zone north of the Wannaway nickel mine and 17km northwest of the new Cassini mine. The drilling was seeking to confirm is a potential channel sitting below a 1250m-long magnetic anomaly hosted mineralisation. The program hit the right host stratigraphy as well as a hit of 0.3m at 1.8% nickel, as previously reported. Follow-up drilling, based on the results of down-hole electromagnetics, hit two high-grade intercepts.

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Bardoc’s plan to bring forward gold concentrate production from its Aphrodite deposit has improved Argonaut Securities’ valuation of the company up from 12c to 14c (reports Stockhead).

The company recently announced that it is studying an alternate plan to that presented in its March 2021 definitive feasibility study, which could accelerate production growth and cash flow. Bardoc Gold’s (ASX:BDC) DFS had outlined some attractive economics such as life-of-mine (LOM) pre-tax cash-flow of $740m at a $2,250 per ounce gold price and pre-tax net present value of $479m and internal rate of return of 41% from average annual gold production of 135,760oz for 8.2 years.

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Any doubts investors might have had about the power of environment, social and governance (ESG) issues to dictate corporate decision making were blown away this week when BHP caved into activist pressure to quit the oil and gas business.

The deal, which will see Woodside Petroleum acquire BHP Petroleum, has not been well received on financial markets, with both companies sold down and some big BHP shareholders indicating they will oppose the transaction when put to a vote next year. But whether BHP and Woodside achieve their desired marriage of convenience is not the big issue for investors. The more important point is that ESG considerations have now been elevated to a company-making (and breaking) level.

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Calidus Resources says it has begun mining at its $120 million Warrawoona gold project near Marble Bar with gold production scheduled in the June quarter of next year (reports The West Australian).

The Dave Reeves-led company said yesterday the project was 50 per cent complete and continuing in line with its budget and schedule. “Delivery of first ore to the run-of-mine pad is always an important marker in a project’s development and confirms we are on track to be Australia’s next gold producer,” Mr Reeves said.

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