News - Market Insights

Northern Star says the performance of its Pogo mine in Alaska is improving but there is still a long way to go before mining operations there run as well as its Australian assets (reports The Australian Financial Review)

Northern Star says the performance of its Pogo mine in Alaska is improving but there is still a long way to go before mining operations there run as well as its Australian assets (reports The Australian Financial Review). Bill Beament-led Northern Star welcomed a 33 per cent improvement in sales from Pogo to 48,009 ounces in the June quarter compared with the previous three months and lower costs, but said there was still work to do to get the mine up to speed with the Jundee and Kalgoorlie operations in Australia.

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1st August 2019

Saracen Mineral Holdings has outlined a plan that will see it produce 400,000 ounces of gold per annum for at least seven years (reports MiningNews).

Saracen Mineral Holdings has outlined a plan that will see it produce 400,000 ounces of gold per annum for at least seven years (reports MiningNews). The company's record FY19 exploration spend of A$50 million has resulted in it declaring record reserves of 3.3 million ounces of gold, up 32% from this time last year even after depletion of 330,000oz. The discovery cost per reserve ounce was $30. Resources were up 7% to a record 9.2Moz.

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Gold miner Red 5 has outlined a decade’s worth of open pit mine life at its emerging King of the Hills mine project with a maiden probable resource of almost 1.5 million ounces and a prefeasibility study that supports an “exceptional” bulk mining opportun

Gold miner Red 5 has outlined a decade’s worth of open pit mine life at its emerging King of the Hills mine project with a maiden probable resource of almost 1.5 million ounces and a prefeasibility study that supports an “exceptional” bulk mining opportunity (reports MiningNews). Managing director Mark Williams said the maiden reserve, carved from the 3.11Moz resource statement, and the PFS were a significant milestone towards transforming Red 5 into a "substantial mid-tier gold producer with a diversified production base and production profile".

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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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