News

Bellevue Gold (ASX:BGL) could be on track for a significant resource upgrade after discovering a new high-grade gold lode at its namesake project in Western Australia (reports Stockhead).

Bellevue Gold (ASX:BGL) could be on track for a significant resource upgrade after discovering a new high-grade gold lode at its namesake project in Western Australia (reports Stockhead). The new Armand lode has been defined over a 450m strike that remains open to the north, down-dip and down-plunge by drilling that returned high-grade hits such as 1.9m at 58 grams per tonne (g/t) gold from 380.5m and 3.7m at 26.2g/t gold from 372.3m.

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Gold took a peek above $US1900 an ounce in the aftermath of this week’s Trump v Biden presidential debate as financial markets started to price risks associated with increased volatility ahead of a possible change of government in the U.S.

Gold took a peek above $US1900 an ounce in the aftermath of this week’s Trump v Biden presidential debate as financial markets started to price risks associated with increased volatility ahead of a possible change of government in the U.S. Despite sliding back to around $US1893/oz to still be well short of the record $US2067/oz reached in early August, it is the return of an upward price trend which should have investors revisiting their exposure to gold. The gold recovery was not the only significant market news this week, with market-moving events which included:

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Ahhh…to have punted a spare A$10,000 back in 2010 on the then fledging gold producer Northern Star (writes Barry FitzGerald on MiningNews).

Ahhh…to have punted a spare A$10,000 back in 2010 on the then fledging gold producer Northern Star (writes Barry FitzGerald on MiningNews). The initial outlay would now be worth more than $1 million thanks to a total shareholder return (TSR) over the journey of some 11,000%. The maths comes from Bill Beament, Northern Star's executive chairman, speaking at the group's recent (virtual) annual strategy day.

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Bellevue Gold says the latest high-grade gold results from its namesake project in Western Australia pave the way for an upgrade of the indicated resource (reports MiningNews).

Bellevue Gold says the latest high-grade gold results from its namesake project in Western Australia pave the way for an upgrade of the indicated resource (reports MiningNews). Step-out drilling up to 200m along strike on the Deacon lode hit mineralisation in previously untested locations in the central and northern areas. Results included 9.3m at 5.8 grams per tonne gold from 757.3m; 1.4m at 63.2gpt gold from 434.9m; and 3.5m at 10.6gpt gold from 387.5m.

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Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year (reports Bloomberg).

Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year (reports Bloomberg). Citigroup sees demand from the official sector rising to about 450 tonnes after a drop to 375t this year, which would be the lowest in a decade. HSBC Securities (USA) expects a slight up-tick to 400t from an estimated 390t in 2020, potentially the second-lowest amount in 10 years.

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Calidus Resources is aiming to secure debt funding for the Warrawoona gold project before the end of the year after a feasibility study confirmed strong project economics (reports MiningNews).

Calidus Resources is aiming to secure debt funding for the Warrawoona gold project before the end of the year after a feasibility study confirmed strong project economics (reports MiningNews). Total capital costs for the project, near Marble Bar in the Pilbara, were confirmed at A$120 million, comprising $105 million in development costs and $15 million for pre-production mining. The project will produce an average 90,000 ounces of gold in the first seven years of an eight-year mine life, peaking at 105,000oz in the fifth year.

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Meanwhile in Ecuador, anticipation builds around a possible BHP or Newcrest bid for SolGold and Sunstone looks set to rise on back of Bramaderos project.

There is a bunch of hopefuls on the ASX looking to become producers of high purity alumina (HPA), which is set to enjoy super-charged growth in demand for its use in LED lighting and as a heat separator in lithium-ion batteries. But it is FYI’s planned $198m integrated project in WA – it envisages the Cadoux kaolin mine 220km north-east of Perth supplying a HPA refinery at Kwinana – that has got the interest up of the king of metal-grade and chemical-grade alumina production, Alcoa. As far as project endorsements go, FYI could not have hoped for a better one.

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Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks.

Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks. Best in class was undoubtedly Chalice Gold Mines, which continued its stellar run as analysts and investors gained a greater insight into its emerging Julimar platinum group metals (PGM) discovery near Perth.

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