News

“Exceptional” new intercepts reported earlier this week by Chalice Gold Mines (ASX: CHN) from its Julimar discovery near Perth have prompted North American brokerage Red Could Securities to compare the discovery to the world-class Sudbury deposit in Canada.

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Shares in WA gold explorer Breaker Resources (BRB) are set to double, says broker Canaccord, as the company grows the inventory at its Lake Roe project, 100km from Kalgoorlie.

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Gold’s overdue price correction hit the wallets of investors this week and bruised a few egos, but while that predictable event was occurring something more remarkable was happening in iron ore

Gold’s overdue price correction hit the wallets of investors this week and bruised a few egos, but while that predictable event was occurring something more remarkable was happening in iron ore, where a seven-year boom might have started. The 9.3% fall in gold from a peak $US2068 an ounce last week to a low of $US1875/oz on Wednesday has been blamed on multiple factors, ranging from Russia’s claim to have developed a successful Covid-19 vaccine, to signs of an improvement in the U.S. economy, which could point to a stronger U.S. dollar.

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Northern Star Resources has flagged a 30% increase in production over the next two years and a 10% reduction in costs, not yet including its 50% stake in Kalgoorlie Consolidated Gold Mines (reports MiningNews).

Northern Star Resources has flagged a 30% increase in production over the next two years and a 10% reduction in costs, not yet including its 50% stake in Kalgoorlie Consolidated Gold Mines (reports MiningNews). The company has set FY21 production guidance, excluding KCGM's Super Pit, at 720,000-820,000 ounces of gold, compared to about 785,000oz in FY20.

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In early August, renowned company maker Ray Shorrocks joined the board of Alicanto Minerals (reports Stockhead).

In early August, renowned company maker Ray Shorrocks joined the board of Alicanto Minerals (reports Stockhead). People are already calling this copper-gold explorer ‘Auteco Mark 2’ or ‘Bellevue Mark 3’. In 2016, tiny explorer Bellevue Gold (ASX:BGL) — then Draig Resources — acquired Bellevue, a historic WA gold project that was very much viewed as ‘old and tired’.

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Sunstone Metals is to pick up more exploration ground in Ecuador and has noted the notional value of its stake in Stockholm-listed Copperstone Resources AB as being A$22.5 million (reports MiningNews).

Sunstone Metals is to pick up more exploration ground in Ecuador and has noted the notional value of its stake in Stockholm-listed Copperstone Resources AB as being A$22.5 million (reports MiningNews). Sunstone has the stake following its divestment of assets in Sweden, with the shares coming out of escrow next month - "after which Sunstone has greater flexibility in monetising this investment, if required".

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Silver prices hit a seven-year high of $US29/oz ($40.32/oz) this week, as investors rediscover its safe haven status as a hedge against the current economic storm (reports Stockhead).

Silver prices hit a seven-year high of $US29/oz ($40.32/oz) this week, as investors rediscover its safe haven status as a hedge against the current economic storm (reports Stockhead). The last time silver reached these levels was back in February 2013. Demand for physical silver is running hot as latest figures from the Perth Mint show.

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Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources

Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources, with a focus on a shallow gold zone emerging at the small Hobby deposit (reports MiningNews). Assays from 24 additional RC holes are in, with 15 holes at Hobby returning hits such as 2m at 5.64 grams per tonne from 17m, 6m at 2.41gpt from 22m and 5m at 3.71gpt from 74m, all from outside the inferred resource of 100,000t at 2.1gpt for 8000oz.

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