News - Market Insights

Still basking in the glow of a $1.2 billion deal to snap up a half-share of Kalgoorlie’s Super Pit, Northern Star Resources boss Bill Beament’s stellar run of success continued last night when he was crowned WA Pinnacle Awards’ Business Leader of the Year

Still basking in the glow of a $1.2 billion deal to snap up a half-share of Kalgoorlie’s Super Pit, Northern Star Resources boss Bill Beament’s stellar run of success continued last night when he was crowned WA Pinnacle Awards’ Business Leader of the Year (reports The West Australian).

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Mining boss Raleigh Finlayson says he is looking forward to getting back into his hard hat and boots this year after his Saracen Mineral Holdings netted a 50 per cent stake in Kalgoorlie’s famous Super Pit mine in November

Mining boss Raleigh Finlayson says he is looking forward to getting back into his hard hat and boots this year after his Saracen Mineral Holdings netted a 50 per cent stake in Kalgoorlie’s famous Super Pit mine in November (reports The West Australian). The managing director says he plans to spend a lot of time at the asset over the next six months as he works with new joint venture partner Northern Star Resources to improve the performance of the ageing asset and exploit its full potential.

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Bellevue Gold is evaluating the potential to establish high-grade starter open pits to generate early cashflow ahead of an underground operation

Bellevue Gold is evaluating the potential to establish high-grade starter open pits to generate early cashflow ahead of an underground operation (reports MiningNews). The company has completed a 94,000m infill drilling program on 40m by 20m and 40m by 40m grids at its namesake project near Leinster in Western Australia. That will pave the way for the release of a maiden indicated resource during the June quarter. The project already has an inferred resource of 2.2 million ounces at 11.3 grams per tonne gold.

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Bardoc Gold (ASX:BDC) says the location of its namesake ~3-million-ounce gold project on the doorstep of Kalgoorlie gives it some big competitive advantages as it charts a course to become one of the region’s biggest new mid-tier producers over the next two years (reports Stockhead).

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Andrew Forrest-backed Mincor Resources has reported strong infill drilling success at its Cassini nickel deposit near Kambalda, as well as an “exciting” exploration hit 400m north of the main resource (reports MiningNews). The exploration result of 7.7m at 1.4% nickel (including 0.5m at 7.5% nickel) from "early drilling" at Cassini North has the company hoping it's "onto a similar channel to Cassini Main". At the latter, an infill hit of 8.2m at 7.6% nickel is estimated to have a true width of 4.7m.

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Gold prices plunged 3.4 per cent to $US1,486 ($2,562) per ounce as US markets fell on Wednesday night (reports Stockhead) However, commentators remained unfazed by gold’s performance to date – resembling a roller coaster ride – with Kitco quoting State Street Global Advisors chief gold strategist George Milling-Stanley as saying that investors had the wrong perspective on gold.

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De Grey Mining, which is 17 per cent-owned by DGO Gold, has again highlighted the unprecedented Pilbara potential it sees at its Hemi gold discovery in Western Australia as drilling continues (reports MiningNews). Assays and awaited assays from the two main zones (Brolga and Aquila) have been highlighted by the company, including a plus-200m wide sulphide mineralisation intersection. "Brolga and Aquila are developing into two very large gold systems with widths of gold mineralisation never seen before in the project area nor the Pilbara region," De Grey said.

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Lucapa Diamond Company has delivered a 25% increase in resources to more than 100,000 carats at its Lulo alluvial diamond mine in Angola, delivering the largest resource estimate in the project’s history (reports MiningNews). That's after mining depletion for 2019 of 19,000ct at the 40%-owned Lulo operation.

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