News

WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project

WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project, according to veteran Sydney-based analyst Gavin Wendt. “The catalyst has been the release of a series of outstanding assay results from the recently expanded +40,000m exploration drilling program at its 100%-owned 2.6Moz Bardoc Gold Project, situated 55km north of Kalgoorlie,” Wendt wrote in his widely circulated Minelife newsletter this week.

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Plus, run-away gold price should fuel the urge to merge in junior land

After some PC issues were sorted out, Kalgoorlie’s Palace pub got back to its bustling self in the final days of the Diggers & Dealers bash. And as yesterday became today for the eclectic mix of well-watered miners and money-types, the rumour mill went in to over drive. Sorting out the factual from the nonsense, and then trying to remember which was which as the sun dawned  on another day under Kalgoorlie’s big blue sky, required some effort.

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Gold dominated financial markets and news flow this week as the world stumbled towards a significant economic slowdown

Gold dominated financial markets and news flow this week as the world stumbled towards a significant economic slowdown, but in the background were early signs of another metal on the move. Nickel, which has been edging towards a price break-out for much of the year rallied strongly early yesterday, moving above $US7 a pound, and briefly trading at $US7.50/lb, its highest in more than four years, before settling around $US7.06/lb. In early July, nickel was selling for $US5.30/lb which means that at its high point yesterday the metal had risen by more than 40% in two months.

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Northern Star Resources executive chairman Bill Beament believes the gold market is “going to start popping”

Northern Star Resources executive chairman Bill Beament believes the gold market is “going to start popping” (reports MiningNews). Beament addressed the company's annual pre-Diggers & Dealers strategy day on Saturday just as Australian dollar spot gold hit an all-time high of A$2129 an ounce. He said Northern Star had seen this coming about a year ago and acquired the Pogo mine in Alaska when the gold price was about US$300 an ounce lower in US dollar terms. "This is not luck - we saw this coming," Beament said.

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Saracen Mineral Resources boss Raleigh Finlayson says the company is in no hurry to pay a maiden dividend because shareholders were getting better bang for their buck from the company’s exploration success

Saracen Mineral Resources boss Raleigh Finlayson says the company is in no hurry to pay a maiden dividend because shareholders were getting better bang for their buck from the company’s exploration success (reports The West Australian). Queried on the company’s dividend policy at the annual Diggers and Dealers Mining Forum in Kalgoorlie, Mr Finlayson said the company was discovering gold at $30 per reserve ounce versus merger and acquisition that was $300 to $400 per ounce.

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Embattled gold miner Dacian Gold has its sights set on regaining investor confidence as it desperately tries to claw back its reputation as a rising star

Embattled gold miner Dacian Gold has its sights set on regaining investor confidence as it desperately tries to claw back its reputation as a rising star (reports The West Australian). The fledgling miner and operator of the Mt Morgans gold project was punished after consecutive production downgrades shook investor confidence in the stock earlier this year.

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Calidus Resources is another of the next wave of Australian gold developers being cautious with its project assessments given the “speed wobbles” seen of late in the sector (reports MiningNews). peaking at Diggers & Dealers, Calidus MD Dave Reeves said the company had been "very conservative" on the grade estimate for the Warrawoona gold project near Marble Bar, with his presentation pointing to dilution and ore loss assumptions that "de-risk project economics".

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The gold price took a knock yesterday when the US central bank delivered half the interest rate cut investors wanted, with the sliding share prices that followed a warning shot for investors making the trek to next week’s Diggers and Dealers conference in Kalgoorlie.

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RRS Summer Series 2019 - Sydney Conference

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