News

Gold mining stocks got a “triple-T” boost this week with Trade, Trump and Takeovers lifting its price to a one-month high and what could be the start of a drive back above the $US1500 an ounce mark.

Gold mining stocks got a “triple-T” boost this week with Trade, Trump and Takeovers lifting its price to a one-month high and what could be the start of a drive back above the $US1500 an ounce mark. The share prices of miners reacted modestly to the rising price for the yellow metal, which reached $US1483/oz on Wednesday before sliding back to around $US1475/oz – a gain for the week of $US14/oz.

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Hedley Widdup believes the events of 2019 are setting mining stocks up for another strong run (reports MiningNews). Despite this year feeling like another tough one for many, it has delivered a number of discoveries. "Discoveries are exciting because they come from nowhere," Widdup told the Resources Rising Stars Summer Series in Sydney today. "2019 has seen a number of discoveries come to market - some still have a question mark over them."

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The first three drillholes at Centaurus Metals’ newly acquired Jaguar nickel sulphide project in Brazil have returned wide, high-grade results (reports MiningNews).

The first three drillholes at Centaurus Metals’ newly acquired Jaguar nickel sulphide project in Brazil have returned wide, high-grade results (reports MiningNews).

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Gold producer Red 5 (ASX:RED) has reached an option agreement to acquire the Cables and Mission gold deposits from private vendor Andrew Paterson

Gold producer Red 5 (ASX:RED) has reached an option agreement to acquire the Cables and Mission gold deposits from private vendor Andrew Paterson that could increase resources and extend mine life at its Darlot mining operation in Western Australia’s Eastern Goldfields region (reports Stockhead). The Cables and Mission deposits are just 10km from Darlot and were last reported by Leopard Resources in 2014 to host outdated JORC 2004 resources of 185,000 ounces of gold.

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Sunstone Metals says the latest results from its Limon prospect in Ecuador indicate it’s close to a gold-copper porphyry centre (reports MiningNews). The latest Limon drilling returned 40m at 0.1 grams per tonne gold, 0.12% copper and 19 parts per million molybdenum from 863m from downhole. Sunstone said the result indicated drilling was within the outer halo of a mineralised porphyry gold-copper system of significant scale. "The trend is our friend," Sunstone managing director Malcolm Norris told the Resources Rising Stars Summer Series in Sydney.

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Kalgoorlie is arguably Australia’s premier gold town and the region around it has delivered a rich endowment of the precious metal over the course of the country’s longest-running gold rush, which shows no sign of stopping anytime soon (reports Stockhead). Torian Resources’ (ASX:TNR) latest drilling results certainly lend credence to the belief that there is still more gold to be found in the region with top assays of up to 46 grams per tonne (g/t) gold at its Credo Well project.

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The pace of gold deals accelerated this week, but not everyone was happy as some prices started to looked stretched.

The pace of gold deals accelerated this week, but not everyone was happy as some prices started to looked stretched. Evolution led the way among Australian-listed stocks with the $US475 million acquisition of the Red Lake complex in Ontario from US gold major, Newmont. Investors liked the move, lifting Evolution’s share-price by 8c to $3.96. There were fewer smiles when Kirkland Lake, a Canadian company which has an Australian listing and owns the high-grade Fosterville mine in Victoria trundled out a $US3.7 billion all-shares merger with fellow Canadian Detour Gold.

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Dacian Gold will update the resource for its Phoenix Ridge discovery early next year after drilling confirmed the continuity of high-grade mineralisation (reports MiningNews).

Dacian Gold will update the resource for its Phoenix Ridge discovery early next year after drilling confirmed the continuity of high-grade mineralisation (reports MiningNews). The 40m by 40m infill drilling program returned 23.1m at 30.2 grams per tonne gold from 266.9m; 19.1m at 5.1gpt gold from 223.6m; 2.4m at 47.5gpt gold from 313.4m; and 10.2m at 3gpt from 235.6m. The program also confirmed a new parallel high-grade shoot less than 50m away from the Phoenix Ridge maiden resource of 125,000oz at 8.1gpt, announced last month.

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26th - 27th May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held on the 26th & 27th May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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