News

The nature of annual profit reports is that they are but snapshots of history, writes Barry FitzGerald

The nature of annual profit reports is that they are but snapshots of history, writes Barry FitzGerald on (MiningNews). Northern Star's executive chairman Bill Beament must have had that in mind when fronting the group's investor call for its 2019FY profit report on Tuesday morning. Beament ran through the profit figures all right, but his real message was that we are in exceptional times for the Australian gold industry thanks to the local price for the yellow metal marching in to record territory.

read more

Shares in cash-strapped microcap Syndicated Metals hit a 12-month high after drilling of its new Newington gold project was said to have confirmed the high-grade gold prospectivity (reports MiningNews). Syndicate's drilling at Newington, north of Southern Cross in Western Australia, returned a best hit of 2m at 17.5 grams per tonne from 76m. Newington features multiple old workings including Newfield Central where historical mining produced 32,366 ounces from dirt grading 24.5gpt.

read more

Finding an entry point into a hot gold sector is not easy with most major producers trading well ahead of the gold price. But there could be value for speculators among smaller project developers that have been jolted awake by an infusion of cash (reports Tim Treadgold in The Australian). Unless the gold price continues to rise, which it could given the unstable global financial markets, the big boys of Australian gold such as Newcrest and Northern Star, which have already weakened, could fall further to better reflect their underlying earnings.

read more

Not content with a 35-fold increase in the value of its shares, Saracen Mineral Holdings has announced plans to start paying dividends (reports The Australian Financial Review).

Not content with a 35-fold increase in the value of its shares, Saracen Mineral Holdings has announced plans to start paying dividends (reports The Australian Financial Review). The new dividend policy was announced on Monday as Saracen reported a 22 per cent rise in profits to $92.5 million. The result was slightly lower than the $101 million analyst consensus published by Bloomberg, but marks the sixth consecutive year that Saracen has grown its earnings.

read more

Gold aficionado, central bank critic and best-selling author Jim Rickards reckons Federal Reserve chairman Jerome Powell faces an "impossible situation", arguing gold may rise to $US10,000 an ounce over the next five years amid strains in the financial system and as US rivals accumulate the precious metal (reports The Australian Financial Review).

read more

Global financial wobbles reinforced the case for gold this week

Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell. Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.

read more
16th August 2019

Dacian Gold’s Mt Morgans gold mine has made a strong start to the 2020 financial year

Dacian Gold’s Mt Morgans gold mine has made a strong start to the 2020 financial year (reports MiningNews). The operation, near Laverton in Western Australia, produced 16,188 ounces of gold in July. The month's production puts Mt Morgans at an annualised run-rate of 194,256 ounces of gold, well above its guidance of 150,000-170,000oz.

read more

Calidus Resources has raised A$9 million to complete the feasibility study for its Warrawoona gold project in Western Australia’s Pilbara region

Calidus Resources has raised A$9 million to complete the feasibility study for its Warrawoona gold project in Western Australia’s Pilbara region, with undisclosed institutions involved in the funding and miner Alkane Resources maintaining its circa 13% stake by putting in $1.2 million (reports MiningNews). The new shares have been priced at 3.2c each, with the stock recently reaching a recent 52-week high of 4c after having been about half that price earlier this year.

read more

Upcoming Events

View All

3rd Dec 2019

RRS Summer Series 2019 - Sydney Conference

One-day investor conference in Sydney on Tuesday 3 December 2019.

5th Dec 2019

RRS Summer Series 2019 - Brisbane Conference

One-day investor conference in Brisbane on Thursday 5 December 2019.

1st - 31st May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held in May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

© 2019 Resources Rising Stars All Rights Reserved