News - Market Insights

Following the lifting of COVID-19 restrictions, Kingston Resources (ASX: KSN) has resumed drilling operations at its flagship 3.2-million-ounce Misima gold project in Papua New Guinea (PNG) (reports Small Caps).

Following the lifting of COVID-19 restrictions, Kingston Resources (ASX: KSN) has resumed drilling operations at its flagship 3.2-million-ounce Misima gold project in Papua New Guinea (PNG) (reports Small Caps). Two diamond rigs are on the island and will carry out 8,000m of diamond drilling. The program will include infill and extensional drilling at the southeast end of the proposed Umuna pit as well as at the company’s 2019 Abi discovery.

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New World Resources is well positioned to capture the copper opportunity brought about by global stimulus spending on infrastructure (reports Stockhead).

New World Resources is well positioned to capture the copper opportunity brought about by global stimulus spending on infrastructure (reports Stockhead). Copper has experienced a revival in recent months as governments around the world introduce stimulus packages in response to the recession brought about by the COVID-19 pandemic.

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Trigg Mining (ASX: TMG) has added more ground to its sulphate of potash (SOP) portfolio in Western Australia, announcing the grant of a new tenement adjoining its Lake Rason project (reports Small Caps).

(SOP) portfolio in Western Australia, announcing the grant of a new tenement adjoining its Lake Rason project (reports Small Caps). The company had entered into an agreement to purchase exploration licence E38/3437 last December for $22,000, payable in shares upon grant, of which it today confirmed it has issued 116,402 fully paid shares for full 100% ownership. The licence covers about 96.2sq km across the western end of Lake Rason and contains about 10km of additional strike at the higher-grade end of the lake.

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Miners are braced for years of political instability in Chile, the world’s biggest copper-producing nation, which is holding a constitutional referendum that could lead to higher taxes (reports The Times of London). The country is due to vote on Sunday on whether and how to replace the Pinochet-era constitution. Opinion polls predict a vote in favour of rewriting it. The vote is being held in the wake of civil unrest a year ago, the anniversary of which resulted in renewed rioting in Santiago last weekend.

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Saracen Mineral Holdings has reported a record unaudited September quarter net profit after tax of A$70-80 million (reports MiningNews).

Saracen Mineral Holdings has reported a record unaudited September quarter net profit after tax of A$70-80 million (reports MiningNews). September quarter production was 154,388 ounces of gold at all-in sustaining costs of $1169 an ounce. Carosue Dam produced a record 54,987oz at $1262/oz even before the plant expansion was commissioned. The operation generated mine operating cashflow of $60.8 million and net mine cashflow of $27.1 million after $33.7 million in growth capital. Thunderbox production of 44,211oz at $790/oz was also a record.

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Despite moving to development, Bellevue Gold sees the potential to continue rapid growth in its gold inventory at its namesake project near Leinster in Western Australia (reports MiningNews).

Despite moving to development, Bellevue Gold sees the potential to continue rapid growth in its gold inventory at its namesake project near Leinster in Western Australia (reports MiningNews). Bellevue has gone from zero to 2.3 million ounces in two and a half years, making it one of the largest gold discoveries in Western Australia in the past decade. At a resource grade of 10 grams per tonne gold, the project is running at about 10 times the grade of the average gold mine.

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Northern Star Resources executive chairman Bill Beament says he has never been more optimistic on the price of gold in his career (reports The West Australian).

Northern Star Resources executive chairman Bill Beament says he has never been more optimistic on the price of gold in his career (reports The West Australian).

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Northern Star Resources expects to make its presence felt in North America once it finishes absorbing Saracen Mineral Holdings through a $5.97 billion offer set to make it the world’s sixth-biggest gold miner (reports The Australian Financial Review).

Northern Star Resources expects to make its presence felt in North America once it finishes absorbing Saracen Mineral Holdings through a $5.97 billion offer set to make it the world’s sixth-biggest gold miner (reports The Australian Financial Review). Saracen boss Raleigh Finlayson, who is poised to become managing director of the combined entity, said Northern Star’s Pogo operations were the beachhead for expansion in North America.

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