Australian government backs De Grey Mining Ltd with $150m loan for Hemi gold project.
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🔔 Equinox Pours First Gold at Greenstone Mine in Ontario 🔔 🌟 A Milestone for Gold Mining in Canada 🌟 Equinox Gold (TSX: EQX) has poured the first gold at its new Greenstone mine near Geraldton, Ontario, producing 1,800 ounces. Greg Smith, Equinox's CEO, commented: "We look forward to ramping up to commercial production in the third quarter of this year and delivering sustained value to all our stakeholders." The Greenstone mine aims to reach 90% of its plant's 27,000 tonnes per day capacity by the end of 2024. Production in 2025 is expected to be 199,000 ounces at a cost of $879/oz in the second half of the year. At full capacity, the mine will produce approximately 400,000 ounces annually during its first five years and 360,000 ounces annually over the 14-year life of the mine. In April, Equinox acquired the remaining 40% of the mine from Orion Mine Finance for approximately C$1.4 billion ($995 million) in cash and shares. https://lnkd.in/eQAxqTA8 What do you think the successful pouring of the first gold at Greenstone Mine signifies for the future of gold mining in Canada and its impact on local communities? #Lithium#gold #paneldiscussion #criticalminerals #evcharging #energytransition #cobalt #nickel #graphite #ESG #mining#Mining #Digitalization #SustainableEnergy #TalentManagement #Efficiency
Equinox pours first gold at Greenstone mine in Ontario
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In our updated research report on Auric Mining Limited (ASX:AWJ), we are pleased to upgrade our intrinsic valuation per share from $0.47 to $0.54. Given the company's impressive progress in mining Jefferys Find stage 2 and the gold price currently exceeding $3,700, our conviction in the company's ability to deliver exceptional shareholder returns has strengthened. Favourable macroeconomic tailwinds around gold, combined with the team’s proven execution ability, position Auric Mining Limited (ASX:AWJ) well to develop the Munda project. We anticipate Munda will generate $136 million in cash profit over the next four years, even with a conservative gold price estimate of $3,100. With a current market cap of just $44 million, it's clear that Auric Mining Limited (ASX:AWJ) remains significantly undervalued. Click the link below to access our updated report: https://lnkd.in/dSmv4xik #goldproducer #cashflow #strongbuy #asx #smallcap #rerating
Auric Mining Ltd
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Endeavour pours first gold at Lafigué - on budget and ahead of schedule. LONDON- and Toronto-listed gold producer Endeavour Mining has held the first gold pour at its new Lafigué mine in Côte d’Ivoire on budget and ahead of schedule just 21 months after construction launch. “The Lafigué project is the fifth project that that we have successfully built in West Africa in the last decade, which is a testament to the strength of our in-house project construction team and is a demonstration of our competitive advantage in West Africa, the world’s most prospective and largest gold production region,” said Endeavour CEO Ian Cockerill. Lafigué was expected to produce between 90,000 and 110,000 ounces of gold annually at a “sector-leading” AISC (all-in sustaining cost) of between $900 – $975/oz in financial year 2024. Production was expected to increase to about 200,000 oz in financial year 2025, said Cockerill. “We discovered Lafigué for a cost of $31m, equivalent to an industry-low discovery cost of just $12 per ounce of measured and indicated resources. “The project was quickly advanced through technical studies and permitting before construction was launched in quarter four – 2022. In less than eight years we have transformed Lafigue from a discovery to production creating a cornerstone asset that has the potential to produce over 200,000 oz a year at an industry-leading all-in sustaining cost of approximately $900/oz for at least 13 years.” Cockerill added that: “We believe this level of value creation is repeatable in West Africa and we have already identified the Assafou deposit on the Tanda-Iguela property in Côte d’Ivoire where we have delineated a top tier resource and another potential cornerstone asset which will underpin our next phase of organic growth in a few years time.” For additional reading see https://lnkd.in/ddtwAYfd #cowaninternational #executiverecruitment #mining #gateway4opportunity
Endeavour pours first gold at 'sector-leading' Lafigué - Miningmx
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Caledonia Mining (CMCL) Corporation PLC (AIM:CMCL, NYSE-A:CMCL) declared a quarterly dividend of US$0.14 per share as it reported a robust performance of Zimbabwe's Blanket mine in 2023, with cash flows improving in the second half. The dividend was kept the same level as the prior year even though, as revealed in a trading update at the start of this month, production was in line with expectations but one-off costs took the edge off profits. Chief executive Mark Learmouth said: “We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer.” Following encouraging underground exploration restarted during the year, he said a revised resource statement is planned to be published in the second quarter of 2024 that incorporates an increase in Blanket's life-of-mine. More at #Proactive #ProactiveInvestors #CaledoniaMiningCorporation #mining #blanketmine http://ow.ly/eBFZ105nCTt
Caledonia Mining keeps dividend flat as sign of confidence in Blanket mine
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Gold mining is becoming increasingly challenging due to difficulties in excavation, securing permits, financing, and operational complexities, as highlighted by the World Gold Council. #GoldMining #WorldGoldCouncil #MiningChallenges https://lnkd.in/dfDtcu6W
Insights from the World Gold Council on the growing problem of gold mining | Open Privilege
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Coverage stock Auric Mining Limited (ASX:AWJ) is a gold story that is worth keeping an eye on, as it enjoys a gradual market re-rating based on its appeal as a relatively low-risk, fully-funded growth situation. AWJ is a junior gold explorer and producer, with a portfolio of projects that are situated within the prolific Eastern Goldfields of Western Australia – comprising Jeffreys Find, Widgiemooltha and Spargoville. The company’s relatively low-risk incremental growth strategy is based upon self-sustaining development at each of its planned gold operations. By the end of 2023, Stage One mining had been completed at Jeffreys Find, with 9,741 ounces of gold sold for $29.28 million in gross revenue (from 175,865 tonnes processed), generating a net cash surplus of $9.53 million (of which AWJ’s 50% share was $4.77M). Stage Two mining at Jeffreys Find will commence this week, with the aim of extracting a minimum of 300,000 tonnes of ore (70% more than Stage One). AWJ held $4.5M in cash reserves at the end of 2023. By being prepared to retain a 50% stake in Jeffreys Find project net cashflows, AWJ has avoided the time, complexity and costs of mobilizing equipment and hiring contractors independently, as well as eliminating the requirement for it to fund its proportionate share of working capital for the project. With BML handling the mining operations, AWJ can realise returns from Jeffreys Find far quicker than if it was running the project on a stand-alone basis. This has also enabled AWJ to take full advantage of the strong A$ gold price environment and also enables AWJ to focus on moving its second project, Munda, towards production, in late 2024/early 2025. #gold #equities #commodities #resources #mining #ausbiz
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Ora Banda Mining Ltd (ASX:OBM) has expanded its Western Australian #gold assets over the last year, securing large increases in its resource estimates and a maiden ore reserve for the Sand King Underground. The #GoldMining company achieved a 176% increase to the Sand King Underground resource estimate, bringing it to 3.4 million tonnes at 2.8 g/t gold for 306,000 ounces while also generating a maiden ore reserve of 537,000 tonnes at 3.2 g/t gold for 55,000 ounces. OBM also increased the Riverina Underground resource by 54%, to 4 million tonnes at 2.6 g/t gold for 468,000 ounces. In total, the Davyhurst Gold Project mineral resource estimate now sits at 23.3 million tonnes at 2.6 g/t for 1.95 million ounces of gold. More at #Proactive #ProactiveInvestors #MiningAustralia #GoldProduction http://ow.ly/evjq105yYFq
Ora Banda Mining achieves strong gold resource growth with 176% increase at Sand King Underground
proactiveinvestors.com.au
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Perseus Mining Limited (ASX:PRU, TSX:PRU, OTC:PMNXF) has sold its 33 million common shares in TSX Venture Exchange-listed gold explorer Montage Gold Corp for C$61.38 million (~US$45 million). The transaction was executed on August 20, under an agreement with BMO Nesbitt Burns Inc, at a price of C$1.86 per share. Perseus originally obtained the shares in May 2022 through its purchase of Orca Gold Inc, whose principal asset was a 70% interest in the Block 14 Gold Project in Sudan, now renamed the Meyas Sands Gold Project. Before this week's transaction, Perseus owned 33 million shares, representing around 9.6% of Montage's outstanding shares. With the completion of this sale, Perseus will no longer hold any shares in Montage. Perseus considered the Montage stake to be non-core to its operations. More at #Proactive #ProactiveInvestors #ASX #PRU #Mining #Gold #PreciousMetals http://ow.ly/ACbs105GnaC
Perseus Mining offloads shares in Montage Gold Corp for C$61.38 million to offset stake in Predictive Discovery
proactiveinvestors.com.au
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Coverage stock Auric Mining Limited (ASX:AWJ) is a gold story that is worth keeping an eye on, as it enjoys a gradual market re-rating based on its appeal as a relatively low-risk, fully-funded growth situation. AWJ is a junior gold explorer and producer, with a portfolio of projects that are situated within the prolific Eastern Goldfields of Western Australia – comprising Jeffreys Find, Widgiemooltha and Spargoville. The company’s relatively low-risk incremental growth strategy is based upon self-sustaining development at each of its planned gold operations. By the end of 2023, Stage One mining had been completed at Jeffreys Find, with 9,741 ounces of gold sold for $29.28 million in gross revenue (from 175,865 tonnes processed), generating a net cash surplus of $9.53 million (of which AWJ’s 50% share was $4.77M). Stage Two mining at Jeffreys Find will commence this week, with the aim of extracting a minimum of 300,000 tonnes of ore (70% more than Stage One). AWJ held $4.5M in cash reserves at the end of 2023. By being prepared to retain a 50% stake in Jeffreys Find project net cashflows, AWJ has avoided the time, complexity and costs of mobilizing equipment and hiring contractors independently, as well as eliminating the requirement for it to fund its proportionate share of working capital for the project. With BML handling the mining operations, AWJ can realise returns from Jeffreys Find far quicker than if it was running the project on a stand-alone basis. This has also enabled AWJ to take full advantage of the strong A$ gold price environment and also enables AWJ to focus on moving its second project, Munda, towards production, in late 2024/early 2025. #gold #equities #commodities #resources #mining #ausbiz
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New mining leases have been granted to Alto Metals Ltd (ASX:AME) over the Bull Oak and Indomitable camps at the Sandstone Gold Project in Western Australia. The granting of these leases by the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) bolsters Alto’s resource base and supports continued exploration and development at the project. The leases, M57/663 and M57/665, consolidate existing resources and historical workings, further de-risking the project and providing flexibility for future mining operations. Indomitable camp contains an indicated and inferred mineral resource of 210,000 ounces at 1.2 g/t gold, while Bull Oak hosts an inferred mineral resource of 65,000 ounces at 1.1 g/t gold. More at #Proactive #ProactiveInvestors #ASX #AME http://ow.ly/a7pr105C2jw
Alto Metals granted new mining leases to consolidate Sandstone Gold Project
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