News

The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs

The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs while nearby juniors Sipa and Antipa are planning holes of their own. Plus, Sandfire-backed White Rock offers investors two projects for the price of one. Exploration in Western Australia’s remote Paterson province is heating up as was expected following Rio Tinto’s belated confirmation in February that its Winu copper-gold discovery was indeed something special.

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Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors

Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors, while two industry leaders, BHP and Rio Tinto, paid a heavy price for annoying their supporters. On a “follow-the-money” basis, it was hard to overlook the flow of funds into two emerging rare earth companies, Arafura and Northern Minerals, which attracted $30 million and $23.2 million respectively to advance their projects.

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Saracen Mineral Holdings boss Raleigh Finlayson insists the mid-tier gold miner is not resting on its laurels

  Saracen Mineral Holdings boss Raleigh Finlayson insists the mid-tier gold miner is not resting on its laurels despite enjoying a record-high Australian dollar price for the precious metal (reports The West Australian). Speaking to reporters and analysts after the company released its June quarter report yesterday, Mr Finlayson said Saracen always planned for the worst and hoped for the best. “We’re trying to plan our business around the basis that we don’t expect these record highs to remain,” he said.

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Sandfire Resources boss Karl Simich says the miner is open to acquisition opportunities

Sandfire Resources boss Karl Simich says the miner is open to acquisition opportunities within Australia including existing operating assets, but they need to be value accretive and make sense (reports The West Australian). Speaking after the company reported record quarterly and full-year production from its flagship DeGrussa gold copper operation near Meekatharra, Mr Simich said the company’s business development team was eyeing all opportunities that could add to Sandfire’s production pipeline.

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Stunning resource growth at the King of the Hills project to 3.1 million ounces makes 100%-owner Red 5

Stunning resource growth at the King of the Hills project to 3.1 million ounces makes 100%-owner Red 5 an obvious nomination for MiningNews’ Explorer of the Year Award (reports MiningNews). Red 5 acquired King of the Hills (KOTH), sitting on a rich trend of deposits between Leonora and Leinster, in a A$16 million cash and scrip deal with Saracen Minerals in October 2017. It was originally mined as an open pit between 1985 and 2004, producing a total of 1.65Moz in a much lower gold price environment.

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It is not every day that a mining company managing director tells investors to look out for some “pretty cool” announcements to the market in the next couple of weeks (writes Barry FitzGerald on MiningNews). It's what Saracen's Raleigh Finlayson, who is pretty good at the stump, quipped when wrapping up the investor call on the gold producer's June quarterly on Monday.

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Pilbara Minerals' response to slower than expected customer demand growth means the miner is tempering output and trying to optimise operations at its Pilgangoora mine in the Pilbara, positioning itself as a more resilient operation (reports MiningNews). The company increased 6% spodumene concentrate production quarter on quarter from 52,196 tonnes to 63,782t, while shipments increased some 4600t to 42,214t. Tantalite concentrate sales of were up some 8200 pounds to 38,538lb. It was not all bad news.

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Liontown Resources has been hard rock lithium’s shining light this year (reports Stockhead). In late April the stock was worth a touch over 2c. Now it’s over 15c – an impressive gain of 530 per cent over the past few months.

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