News

Kingston Resources (ASX: KSN) has confirmed a pre-feasibility for its flagship Misima gold project in Papua New Guinea is in the final stages of preparation and on track for completion by year end (reports Small Caps)

Kingston Resources (ASX: KSN) has confirmed a pre-feasibility for its flagship Misima gold project in Papua New Guinea is in the final stages of preparation and on track for completion by year end (reports Small Caps). In its September quarterly report released today, the company said the study had passed the 60% completion milestone and would be released in December with an ore reserve.

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Liontown Resources has reported firm commitments from its first capital raising in more than 12 months that were “substantially in excess” of the cash sought to complete the definitive feasibility study for Kathleen Valley

Liontown Resources has reported firm commitments from its first capital raising in more than 12 months that were “substantially in excess” of the cash sought to complete the definitive feasibility study for the 100%-owned Kathleen Valley lithium-tantalum project in Western Australia (reports MiningNews). Liontown has raised A$12.5 million, with $10.3 million from institutional and professional investors, and it will seek shareholder approval for a further $2.2 million from directors.

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There are not many to choose from, but Sandfire’s sum-of-the-parts highlights a value opportunity while shares in juniors such as Stavely and Venturex are already edging up. Plus, early De Grey backer, DGO Gold, wades into a new junior.

Copper has been mounting a challenge to take over from gold as the glamour metal, prompting renewed investor interest in the red metal. With gold seemingly locked into sideways trade until the US election is decided, copper has been shooting the lights out. It last traded at $US3.17/lb, which was a 28-month high. The current price compares with the $US2.50/lb average of the June half and the metal’s 2019 (calendar) average of $US2.72/b, and $2.96/lb in 2017.

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A “blue wave” in US politics could become a “green wave” for Australian investors with early signs of a significant recovery developing in the battery metals sector of the stock market.

A “blue wave” in US politics could become a “green wave” for Australian investors with early signs of a significant recovery developing in the battery metals sector of the stock market. Despite another 11-days of campaigning before the US Presidential election on November 3, early bets are being placed on lithium, nickel and graphite miners in the hope that the Democrat contender, Joe Biden, defeats Donald Trump.

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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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RareX has made its best-ever drill intercept at the Cummins Range rare earths project in Western Australia (reports Stockhead).

RareX has made its best-ever drill intercept at the Cummins Range rare earths project in Western Australia (reports Stockhead). Drilling returned the hit of 90m at 3.8 per cent total rare earth oxides (TREO) and 0.3 per cent niobium from just 4m that includes higher grade zones of 20m at 5.1 per cent TREO and 0.3 per cent niobium from 7m and 32m at 4.4 per cent TREO and 0.3 per cent niobium from 62m.

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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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