News

Calidus Resources is just about to launch into full construction of the A$116 million Warrawoona gold project in the Pilbara region of Western Australia (reports MiningNews).

Calidus Resources is just about to launch into full construction of the A$116 million Warrawoona gold project in the Pilbara region of Western Australia (reports MiningNews). Early works at the site, including the accommodation village, water bores, communications and access roads, are almost complete, allowing full-scale construction to kick off in April. "The site's starting to look really good at the moment," Calidus managing director Dave Reeves told the Australian Energy & Minerals Investor Conference yesterday.

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Kingston Resources (ASX: KSN) has moved to 100% ownership of the huge Misima gold project in Papua New Guinea, in what the company describes as a strategically important milestone (reports Small Caps).

Kingston Resources (ASX: KSN) has moved to 100% ownership of the huge Misima gold project in Papua New Guinea, in what the company describes as a strategically important milestone (reports Small Caps). The company has now paid the final $1.6 million of the $2 million price on acquiring the minority 19% stake in the mining project held by Japan’s Pan Pacific Copper. Final regulatory approvals for the acquisition have also now been received.

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Calidus poised for re-rating on production growth and there’s takeover talk around De Grey. Plus, analysts see much upside in emerging mineral sands producer Strandline. But will big neighbour Iluka share their view?

The beaten up gold stocks are back in town thanks to the metal clawing itself back to $US1750/oz, with US Federal Reserve chairman Jerome Powell doing his bit by pledging to keep interest rates low for years to come. Still, the 10% fall in the gold price in the last six months has been sobering stuff for local gold equities which have also had to soak up a rise in the Aussie dollar, the net effect of which has been a $A420oz compression of margins in the period.

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New hits at Bellevue Gold’s Marceline discovery at Bellevue in Western Australia have extended the known strike length to 500m (reports MiningNews).

New hits at Bellevue Gold’s Marceline discovery at Bellevue in Western Australia have extended the known strike length to 500m (reports MiningNews). New results included 4.8m at 20.1 grams per tonne gold, including 0.9m at 102.7gpt gold from 489.4m; 2.1m at 45.5gpt gold from 503.4m; 4.2m at 21gpt gold from 459m; 4m at 16.7gpt gold from 455.7m; 4.9m at 13gpt gold from 462.1m; 1.2m at 45.1gpt gold from 479.4m; 8.2m at 6gpt gold from 379.8m; and 3.5m at 12.1gpt gold from 459.9m. Mineralisation remains open in every direction.

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Red 5 says its King of the Hills project near Leonora is fully funded after the gold miner locked in a $175 million debt facility and flagged a $60m rights issue (reports The West Australian).

Red 5 says its King of the Hills project near Leonora is fully funded after the gold miner locked in a $175 million debt facility and flagged a $60m rights issue (reports The West Australian). The Mark Williams-led company said the $175m in debt had been raised from a syndicate of three banks and involved a $160m senior secured loan and a $15m debt overrun facility.

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After receiving all assays from last year’s campaign at the Mt York gold project, Kairos Minerals (ASX: KAI) is poised to begin another round of drilling next month

After receiving all assays from last year’s campaign at the Mt York gold project, Kairos Minerals (ASX: KAI) is poised to begin another round of drilling next month in search of more gold at Mt York in Western Australia’s Pilbara, with a smaller program also to kick-off at the Roe Hills project, east of Kalgoorlie (reports Small Caps). Kairos executive chairman Terry Topping said the company was ready to “hit the ground running at full speed”.

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Firefly Resources has reported the first of what it believes will be many gold resources for its Yalgoo project in Western Australia (reports MiningNews).

Firefly Resources has reported the first of what it believes will be many gold resources for its Yalgoo project in Western Australia (reports MiningNews). The Melville deposit has an independently verified resource of 196,388 ounces at 1.45 grams per tonne gold, using a 0.7gpt cut-off, of which 156,753oz at 1.47gpt, or 80%, is in the indicated category. Firefly managing director Simon Lawson said the maiden resource provided a solid platform for growth at Yalgoo.

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Nimble juniors lining up to test the new frontier in copper-gold exploration;

A bunch of junior explorers are as excited as junior explorers can be after the big time copper/gold potential of the Northern Territory’s Barkly region east of Tennant Creek was confirmed in a government-sponsored drilling program. The East Tennant region, as the boffins are calling it, is not quite an exploration hotspot just yet.

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