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Westgold, S2R shake hands on gold tenements

By: Megan van Wyngaardt     13th February 2018 ASX-listed companies Westgold Resources and S2 Resources (S2R) have entered an agreement, whereby Westgold would acquire S2R's interest in the Polar Bear project, its 80% interest in the Eundynie joint venture and the Norcott project, in Western Australia. The company would take over all the... 

Westgold boosts quarterly output, mulls potential lithium spin-off

By: Mariaan Webb     31st October 2017 Western Australian gold miner Westgold has grown its gold production in the September quarter to 66 288 oz, placing the company on track to achieve its yearly guidance range of 310 000 oz to 340 000 oz. The September quarter output is a 6.3% improvement on that of the June quarter and also higher... 

Aus gold production reaches 17-year high

     27th February 2017 Australian gold production rose to its highest levels since 1999 in 2016, at 298 t, gold mining specialist Surbiton Associates reported. Gold production in 2016 was worth some A$15-billion at the current gold price of A$1 600/oz, and was up 10 t, or 3.5% from 2015 production levels. During the... 

Metals X lifts lid on gold spin-off company’s name

By: Mariaan Webb     15th September 2016 Diversified mining company Metals X has provided more details about its gold spin-off, including that the new gold pure-play company will be known as Westgold Resources. The new entity will feature as one of Australia’s top ten domestic gold producers, with a production run rate of 250 000 oz/y... 

Metals X reports strong quarter as Aditya takeover advances

By: Esmarie Swanepoel     2nd May 2016 Diversified junior Metals X has reported a quarter of steady production during the three months to March, as it continued to advance its acquisition of fellow-listed Aditya Birla. Gold production during the March quarter reached 47 591 oz, which compared with the 48 134 oz produced in the... 

Metals X hedges gold

By: Esmarie Swanepoel     28th August 2015 ASX-listed Metals X has entered into a hedging programme for 245 000 oz of gold, with scheduled deliveries until September 2018. The gold would be priced at A$1 631.23/oz. 

Metals X won't brawl for projects – Cook

By: Esmarie Swanepoel     5th August 2015 Diversified metals miner Metals X told the last day of the Diggers & Dealers conference that while it would continue with its acquisition strategy, the company would not become involved in a bidding war for an asset. CEO and executive director Peter Cook pointed out on Wednesday that, in the last... 

Metals X secures funds for gold division

By: Esmarie Swanepoel     30th September 2014 Base and precious metals developer Metals X has raised A$40.44-million through a gold pre-payment arrangement with Citibank. Under the agreement, Citi has advanced the funds to Metals X, with the company taking on the obligation to deliver 1 250 oz a month, over the next 24-months for a total of... 

Aussies Increase Control Of Local Gold Mines

     4th August 2014 Australian control of its $12 billion gold mining industry has risen to around 50 per cent in recent months, with several large overseas-based gold producers selling some of their Australian operations to local companies, Melbourne-based gold mining consultants Surbiton Associates Pty Ltd said.... 

Australian gold miners take back resources

By: Esmarie Swanepoel     4th August 2014 Australian-owned mining companies have become the majority shareholders in the country’s A$12-billion gold mining industry, with foreign investors selling their stakes in projects, mining consultancy Surbiton Associates reported. In 2013, Australia’s gold output increased to 273 t, up from the... 

Metals X restructures Higginsville royalty, looks to reinvest

By: Esmarie Swanepoel     22nd April 2014 Diversified junior Metals X has restructured the royalty over the Higginsville gold operation, held by Morgon Stanley. The Higginsville operation was acquired as part of Metals X’s A$44-million takeover of fellow-listed Alacer Gold’s Australian business unit in October of last year. 

Australian gold output at 10-year high as miners combat low prices

By: Leandi Kolver     3rd March 2014 Australian gold production rose to its highest level since the June quarter of 2003, during the three months ended December, as producers responded to lower gold prices by treating less low-grade material resulting in higher output and reduced costs, mining consultancy Surbiton Associates... 

Alacer Gold reports 44% boost to 2013 output

By: Henry Lazenby     30th January 2014 TSX- and ASX-listed miner Alacer Gold on Thursday reported record yearly attributable gold production from its flagship Turkish Çöpler mine, lifting output to 216 850 oz – a 44% increase over 2012. The Toronto-based company said the higher production was driven by a 16% higher average oxide ore... 

Turkey focus sets Alacer up for growth

By: Esmarie Swanepoel     30th October 2013 Dual listed gold miner Alacer Gold has reported a record production quarter, as the company’s focus on its Çöpler mine, in Turkey, pays off. During the third quarter ended September, Alacer increased gold production to 81 059 oz, up 19% on its performance in the second quarter. Attributable gold... 

FIRB approves Alacer asset sale

By: Esmarie Swanepoel     25th October 2013 The Foreign Investment Review Board has approved the sale of ASX- and TSX-listed Alacer Gold’s Australian business unit to a subsidiary of ASX-listed Metals X. Last month, the gold miner agreed to sell its Australian assets to Metals X for A$40-million in cash, after warning that it would place... 

Alacer Gold sells Australian business unit for A$40m

By: Henry Lazenby     23rd September 2013 Toronto-based gold miner Alacer Gold on Monday announced the sale of its Australian assets to local miner Metals X for A$40-million in cash. TSX- and ASX-listed Alacer was on the hunt for a buyer for its Australian assets, and previously warned that it would place these mines on care and... 

Alacer falls victim to impairment charges

By: Esmarie Swanepoel     31st July 2013 Dual listed gold miner Alacer Gold on Wednesday reported an impairment of A$412-million, following the miner’s decision to sell its Australian assets. In June this year, the ASX- and TSX-listed Alacer announced that it would sell its Australian assets, including the Higginsville and South... 

Alacer Gold to sell Australian assets

By: Esmarie Swanepoel     13th June 2013 Dual-listed gold miner Alacer Gold on Thursday announced that it would sell its Australian assets, including its Higginsville and South Kalgoorlie operations, in Western Australia. “Alacer has recently received confidential, nonbinding expressions of interest from several parties interested in... 

Alacer Gold books full-year loss on Q4 Australian asset impairments

By: Henry Lazenby     13th March 2013 Dual-listed Alacer Gold on Wednesday reported a net loss of $386-million for the 2012 financial year, owing to the company booking a $490-million write-down of its noncurrent assets in Australia. This compared with a net profit of $75.2-million booked in 2011. With one-time items removed,... 

Alacer sells Frog’s Leg interest as company goes ‘back to basics’

By: Esmarie Swanepoel     11th February 2013 Dual-listed gold miner Alacer Gold on Monday told shareholders it would sell off its 49% shareholding in the Frog’s Leg mine, in Western Australia, as it moved to maximise its portfolio value and contain capital spend. “2013 will be a back-to-basics year for Alacer from an operational... 

Alacer Gold full-year production below guidance

By: Henry Lazenby     17th January 2013 Turkey- and Australia-focused gold producer Alacer Gold on Thursday said it had produced 381 738 oz of attributable ounces from its mines, which was just under its expected attributable production of 385 000 oz to 403 000 oz. However, the company reported a strong fourth quarter ending December... 

Australian review starting to pay off, says Alacer Gold

By: Esmarie Swanepoel     15th November 2012 Dual-listed gold miner Alacer Gold on Thursday reported that a strategic and operational review of its Australian mines was paying off, with the South Kalgoorlie operations showing increased production during the three months to September. ASX- and TSX-listed Alacer has started a review of its... 

Alacer Gold reports lower Q3 gold production

By: Henry Lazenby     23rd October 2012 Dual-listed Alacer Gold on Tuesday reported 5% lower attributable third-quarter gold production at 90 951 oz as its Çöpler mine, in Turkey, and its Higginsville operation, in Australia, struggled to maintain ore grades. The TSX- and ASX-listed company said attributable gold production from its... 

Alacer cuts guidance on lower grades from Turkey, Australia mines

By: Esmarie Swanepoel     15th August 2012 ASX- and TSX-listed gold miner Alacer Gold has decreased its guidance for 2012, despite reporting a higher second-quarter gold output. The miner said on Wednesday that gold production estimates for 2012 had been lowered to between 385 000 oz and 403 000 oz, from an earlier guidance of 396 000 oz... 

Alacer lifts Q2 gold production

By: Henry Lazenby     24th July 2012 Sydney- and Toronto-listed Alacer Gold on Tuesday said that at 106 226 oz of gold, it had produced 6% more gold in the second quarter than in the first quarter from its Australia and Turkey operations. Of the ounces produced, 95 984 oz was attributable to the company. Alacer sold 108 844 oz... 

Alacer Gold warns of higher FY costs

By: Esmarie Swanepoel     16th May 2012 Shares in miner Alacer Gold tumbled on the ASX on Wednesday as it warned that costs would increase by some $55/oz in the 2012 financial year. Alacer, which has a primary listing on the TSX, hiked its operating cost guidance to between $645/oz and $670/oz, from between $590/oz and $615/oz. Its... 

Alacer hikes 2012 guidance on revised Çöpler schedule

By: Esmarie Swanepoel     20th April 2012 ASX- and TSX-listed Alacer Gold has reported a 12% decline in gold production for the three months to March, as severe weather conditions in Turkey and equipment failures in Australia affected its operations. Gold production for the first quarter of the financial year fell to 100 290 oz, from... 

Alacer posts $75m profit for 2011

By: Matthew Hill     21st March 2012 TSX- and ASX-listed Alacer Gold, the company formed out of the merger of Anatolia Minerals and Avoca Resources early last year, said it made $75-million in net profit in 2011, having produced a revised guidance-beating 411 933 oz of gold. On an adjusted basis, earnings were $130-million, or... 

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