News

Ed Eshuys, who is no stranger to being an early adopter for new technologies in the exploration space, is taking a potential A$4 million gamble on drilling multiple targets with multi-million ounce potential

Ed Eshuys, who is no stranger to being an early adopter for new technologies in the exploration space, is taking a potential A$4 million gamble on drilling multiple targets with multi-million ounce potential, with DGO Gold becoming a key backer for privately-funded tech firm SensOre (reports MiningNews) . DGO will acquire a 40% equity interest in SensOre's exploration subsidiary, Yilgarn Exploration Ventures, giving it the financial firepower to drill all nine targets in Western Australia over 18 months.

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The dash to throw wads of cash at the likes of Bellevue Gold and Mincor shows investors now want to have their cake and eat it when it comes to resource growth and the march towards production.

A willing equity market is stepping up to fund an explosion in dual exploration and development strategies by ASX mine developers. It is a key theme to emerge from the strong recovery in mining equities from the COVID-19 induced lows of March and makes for a more dynamic newsflow as developers head towards final investment decisions. In the past, a developer would release its definitive feasibility study and then set out to secure a debt/equity package to fund the project without much happening in between.

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Gold miner Northern Star Resources has emerged in much better shape than it feared

Gold miner Northern Star Resources has emerged in much better shape than it feared when executive chairman Bill Beament made dire predictions about the potential impact of COVID-19 (reports The Australian Financial Review). Northern Star announced on Wednesday that it would pay a dividend of 7.5¢ a share on July 16 after solid June-quarter results. The dividend was postponed in March when the company withdrew its production and cost guidance for the full year.

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10th July 2020

Saracen Mineral Holdings has reported record full-year production, well ahead of its guidance (reports MiningNews).

Saracen Mineral Holdings has reported record full-year production, well ahead of its guidance (reports MiningNews). The company had forecast production of more than 500,000 ounces of gold, with the final figure reaching 520,414oz. Carosue Dam produced 203,281oz, Thunderbox 184,538oz and the company's 50% stake in the Super Pit, acquired in December, contributed 132,595oz. "We have now met or exceeded guidance for seven straight financial years," Saracen managing director Raleigh Finlayson said.

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The buzz around gold equities won’t subside any time soon, says veteran mining analyst Peter O’Connor

The buzz around gold equities won’t subside any time soon, says veteran mining analyst Peter O’Connor, who is backing stocks to fly higher on increased market acceptance of a long-term uptrend for gold prices (reports MiningNews). “This is not a spike like we see in some commodities, this is a long journey with a particularly long plateau,” O'Connor said on a webinar. "Looking ahead we see that level being more like a $2000/oz level plateau if not higher from here," the Shaw and Partners analyst said.

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RareX and partner Kincora Copper already knew they were sitting on a porphyry system in the famed Lachlan Fold Belt of NSW, but now they have also hit higher grades

RareX and partner Kincora Copper already knew they were sitting on a porphyry system in the famed Lachlan Fold Belt of NSW, but now they have also hit higher grades than is typical of most porphyry deposits (reports Stockhead). When it comes to porphyry deposits, size counts. These are multigenerational mines responsible for ~60 per cent of the world’s copper, most of its molybdenum, and significant amounts of gold and silver.

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Kairos Minerals has shored up Hemi-style potential after discovering high-grade gold at its Skywell project in WA

Kairos Minerals has shored up Hemi-style potential after discovering high-grade gold at its Skywell project in Western Australia’s Kimberley with rock chips assaying up to 12.9 grams per tonne gold (reports Small Caps) . The company collected rock chip samples along 130m of outcropping veins with five out of 23 samples assaying between 1.8g/t and 12.9g/t gold.

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Chalice Gold Mines has intersected a new style of platinum group elements-copper-gold mineralisation at its Julimar discovery northeast of Perth (reports MiningNews).

Chalice Gold Mines has intersected a new style of platinum group elements-copper-gold mineralisation at its Julimar discovery northeast of Perth (reports MiningNews). The wide mineralised interval was below the extended high-grade G1-G2 zones at the Gonneville Intrusive. Drilling returned 23.9m at 1.7 grams per tonne palladium, 0.4gpt platinum, 0.5gpt gold, 0.1% nickel, 0.7% copper and 0.02% cobalt from 314.9m to the end of the hole, including 10.1m at 2.9gpt palladium, 0.6gpt platinum, 1.2gpt gold, 0.1% nickel, 1.3% copper and 0.01% cobalt.

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