News - Market Insights

Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade

Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade Aphrodite deposit (reports Small Caps). The study evaluated Bardoc’s new strategy to bring forward production from Aphrodite, which will require more initial capital expenditure of $232.4 million compared to the $177.4 million outlined in the definitive feasibility study that was published in March.

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Northern Star Resources is dishing out the spoils, announcing a new dividend policy based on cash earnings which marks what has been a momentous year for WA’s biggest goldminer (reports The West Australian).

The company’s results for the 2020-21 financial year saw it tear-up traditional reporting conventions as it put its record $648 million cash earnings front and centre of its presentation. It came as the company yesterday announced a new annual dividend payout policy of 20-30 per cent of cash earnings.

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Northern Star Resources managing director Stuart Tonkin says the company’s record full-year financial results highlights the strength of the business (reports MiningNews).

The gold miner reported record 2021 financial year cash earnings of A$648 million, which incorporated results for the Saracen assets from February 12, the day the merger closed. Northern Star introduced a new dividend policy, targeting a total annual dividend payment of 20-30% of cash earnings. The company defines cash earnings as underlying EBITDA less net interest, tax and sustaining capital. "It is the best representation of business health," Tonkin said this morning. The company's previous dividend policy was to pay out 6% of revenue.

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Shares in Mincor Resources hit a 10-year high after the company reported its second nickel discovery this week (reports MiningNews).

The company drill tested the Location-1 target, which sits in a 3km untested zone north of the Wannaway nickel mine and 17km northwest of the new Cassini mine. The drilling was seeking to confirm is a potential channel sitting below a 1250m-long magnetic anomaly hosted mineralisation. The program hit the right host stratigraphy as well as a hit of 0.3m at 1.8% nickel, as previously reported. Follow-up drilling, based on the results of down-hole electromagnetics, hit two high-grade intercepts.

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The nickel express has left the station, but it could travel much further as demand rises and supply lines are crimped – giving ASX-listed nickel miners and explorers a lift particularly if their product is of a superior quality (reports Tim Treadgold on

Those first two factors, supply and demand, are well understood and have been the key to the near doubling of the nickel price over the past 18-months as it has charged up from a Covid-effected US$11,000 a tonne early last year to latest sales at US$19,500/t.

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Bardoc’s plan to bring forward gold concentrate production from its Aphrodite deposit has improved Argonaut Securities’ valuation of the company up from 12c to 14c (reports Stockhead).

The company recently announced that it is studying an alternate plan to that presented in its March 2021 definitive feasibility study, which could accelerate production growth and cash flow. Bardoc Gold’s (ASX:BDC) DFS had outlined some attractive economics such as life-of-mine (LOM) pre-tax cash-flow of $740m at a $2,250 per ounce gold price and pre-tax net present value of $479m and internal rate of return of 41% from average annual gold production of 135,760oz for 8.2 years.

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Is zeroing in on its next generation of targets to build a pipeline of potential resources across its Gidgee Gold Project in WA’s rich Murchison gold field (reports Stockhead).

Gateway Mining (ASX:GML) has long shown the ability to focus on many fronts at once, and while it progresses efforts to expand and extend the 240,000oz bounty at its Whistler and Montague-Boulder deposits, a new wave of exploration is coming to outline resources and generate new prospects across the 300km2 expanse of the Gidgee project.

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Rich Lister Chris Ellison believes his mining services empire could work alongside mining entrepreneur Bill Beament

Rich Lister Chris Ellison believes his mining services empire could work alongside mining entrepreneur Bill Beament as the latter seeks to turn a small exploration company into the sort of mixed business that made Ellison a billionaire (reports The Australian Financial Review).

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