R/€ = 16.96 Change: -0.03
R/$ = 16.23 Change: -0.14
Au 1818.57 $/oz Change: -8.20
Pt 918.50 $/oz Change: 3.00

Gold News

Focus gets approval for Greenfields mining

By: Esmarie Iannucci     3rd June 2022 The Western Australian Department of Mines, Industry Regulation and Safety has approved ASX-listed Focus Minerals’ mining proposal for its Greenfields openpit operation. Focus said on Friday that the approved mining proposal allows the company to start mining from the Greenfields openpit, and to... 

Meteoric strikes A$30m deal over Brazilian gold project

By: Esmarie Iannucci     3rd June 2022 ASX-listed Meteoric Resources has struck a A$30-million agreement to divest of its Juruena gold project, in Brazil. The company has signed a termsheet with Keystone Resources, which is a wholly-owned subsidiary of Alchemist Investments Inc. 

Image shows Australian currency

Gold Road offer gains ground at DGO

By: Esmarie Iannucci     3rd June 2022 Gold miner Gold Road Resources has secured a majority interest in takeover target DGO Gold, after raising its offer earlier this week. Gold Road this week increased its takeover offer for fellow listed DGO from 2.16 Gold Road shares to 2.25 Gold Road shares for every DGO share held, and has... 

Kal East proves positive for Black Cat

By: Esmarie Iannucci     3rd June 2022 A preliminary feasibility study (PFS) into the Kal East gold project, in Western Australia, has confirmed a robust base-case production plan. ASX-listed Black Cat Syndicate on Friday reported that some 278 000 oz of gold could be recovered over a five-and-a-half year period, based on an annual... 

Jewellers' gold sourcing more challenging in times of war

By: Reuters     2nd June 2022 With Russian gold and diamonds off-limits due to the war in Ukraine, makers of luxury jewellery and watches are finding it more difficult to secure raw materials and address human rights issues in supply chains. Russia is the world's biggest producer of natural diamonds, according to the World... 

Junior explorer scores big in Namibian gold belt where mining majors failed  

By: Martin Creamer     2nd June 2022 If you want to raise real risk capital for exploration, you need Canadian-style investors to provide it, the 2022 Junior Indaba heard on Thursday. While it was acknowledged that South Africa has the money, it was also reiterated that the country is just not channeling it into exploration, where... 

Osino Resources CEO Heye Daun
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mahlako Energy invests in Harmony Gold's Phase 1 solar project

By: Tasneem Bulbulia     2nd June 2022 Discretionary managed fund Mahlako Energy Fund has concluded its investment in an industrial independent power generation project for the Harmony Gold Mining-commissioned 30 MW solar photovoltaic (PV) portfolio. This project is among the first projects to be developed following changes to... 

Jewellers' gold sourcing more challenging in times of war

By: Reuters     2nd June 2022 With Russian gold and diamonds off-limits due to the war in Ukraine, makers of luxury jewellery and watches are finding it more difficult to secure raw materials and address human rights issues in supply chains. Russia is the world's biggest producer of natural diamonds, according to the World... 

Trillium continues to extend foothold along Confederation belt

By: Creamer Media Reporter      2nd June 2022 Northern Ontario-focused Trillium Gold Mines has signed an option agreement to acquire the Wenasaga gold property, held by Bounty Gold, contiguous to its Eastern Vision land package. The 1 692-ha property effectively extends Trillium’s dominant foothold along the Confederation belt on trend with... 

Wesdome drilling continues to expand Kiena

By: Creamer Media Reporter      2nd June 2022 Exploration drilling at the Kiena Mine Complex, in Val d’Or, Quebec, continues to expand high-grade zones and has also yielded the discovery of a new zone, Toronto-headquartered Wesdome Gold Mines reported on Wednesday. Since the completion of the prefeasibility study (PFS) for Kiena in 2021,... 

Skeena completes QuestEx acquisition

By: Creamer Media Reporter      2nd June 2022 Dual-listed Skeena Resources has completed the acquisition of QuestEx Gold and Copper and now holds one of the biggest land positions for mining in the prolific Golden Triangle. CEO Walter Coles said on Wednesday that Skeena expected to realise exploration synergies at the KSP and Kingping... 

Trillium buys Panama Lake property

By: Creamer Media Reporter      2nd June 2022 TSX-V-listed Trillium Gold Mines has signed an agreement to buy the rights and titles to the Panama Lake property, which effectively extends the company’s contiguous foothold along the Confederation belt by 9 882 ha. The Panama Lake property, held by St Anthony Gold, is located about 80 km from,... 

West Wits take a bigger stake in WBP

By: Esmarie Iannucci     2nd June 2022 ASX-listed West Wits Mining has struck a deal with its black economic empowerment (BEE) partner to increase its shareholding in the Witwatersrand Basin project (WBP), in South Africa, from 66.6% to 74%. West Wits will acquire Lilitha Resources’ interest in the project for A$50 000 in cash and... 

Far-reaching JSE reforms highlighted at exploration-focused Junior Indaba 

By: Martin Creamer     1st June 2022 The June 1 launch of the JSE’s new Cutting Red Tape initiative to make listing on the JSE considerably easier, faster and more sustainable is twinning with JSE’s recent private placements inventiveness that provides for the raising of capital in the private market for minerals exploration and the... 

Picture supplied by JSE.
JSE head of origination and deals Sam Mokorosi.

Aton Phase 2 Rodruin drilling uncovers high-grade gold, silver mineralisation

By: Donna Slater     1st June 2022 TSX-V-listed gold explorer Aton Resources reports that its ongoing Phase 2 diamond drilling programme at its advanced Rodruin gold exploration project, in Egypt, has returned high-grade mineralisation. In particular, drill hole ROD-071 returned gold mineralisation of 5.76 g/t, silver grading at... 

Adventus and Salazar receive ESIA approval for Ecuador project

By: Creamer Media Reporter      1st June 2022 The Ecuador government has approved the environmental and social impact assessment (ESIA) for the Curipamba-El Domo project, paving the way for the citizen participation process, final environmental licence issuance and formal construction decision in the second half of the year. The ESIA... 

Egypt awards eight gold and metal mining exploration licences

By: Reuters     1st June 2022 Egypt awarded eight gold and metal mining exploration licences in the eastern desert region, the petroleum ministry said on Wednesday, as it seeks to increase investments in this underdeveloped industry. Four companies won the licences – Lotus Gold, AKH Gold, Marine Logistics Gold Mining and Ankh... 

Kinross invests in E2Gold

By: Mariaan Webb     1st June 2022 TSX-V-listed E2Gold’s share price jumped 8% on Monday as the company announced that Kinross Gold will be a strategic investor, acquiring a 9.9% shareholding. Kinross has expressed its intention to support E2Gold’s activities at the district-scale Hawkins gold project, in north-central Ontario,... 

Challenger reports maiden 2.1Moz resource in Argentina

By: Esmarie Iannucci     1st June 2022 Junior Challenger Exploration has reported a 2.1-million ounce resource at its flagship Hualilan old project, in Argentina. The mineral resource estimate was based on 125 700 m of drilling from a 204 000 m diamond core drill programme, and Challenger told shareholders on Wednesday that the... 

RDM’s TSF raise approved, says Equinox

By: Creamer Media Reporter      1st June 2022 Dual-listed Equinox Gold has received approval for the tailings storage facility (TSF) raise at its RDM mine, in Brazil, with the contractor set to start work in early June. The company previously suspended operations at the RDM mine, pending regulatory approvals for the TSF raise. Equinox said... 

Navarre sets A$9.4m raising target

By: Esmarie Iannucci     1st June 2022 ASX-listed Navarre Minerals would raise as much as A$9.4-million in a share placement and share purchase plan (SPP) to accelerate exploration at its Mt Carlton gold project, which it acquired from gold miner Evolution Mining last year. Navarre on Wednesday reported that it would place some... 

More gold deals are in the works if Yamana is any gauge

By: Bloomberg     1st June 2022 Yamana Gold considered other options before agreeing to be acquired by Gold Fields for about $7-billion, suggesting there are discussions for other prospective deals in the gold industry, the Canadian firm’s executive chairman said. “We cannot be, and should not be, the only company that is... 

An image of Peter Marrone
Yamana executive chairperson Peter Marrone

Caracal agrees to revised agreement in Tyacks buyout

By: Tasneem Bulbulia     31st May 2022 LSE-listed Caracal Gold has agreed to a revised share purchase agreement (SPA) for its proposed acquisition of Tyacks Gold – the holder of the licences collectively referred to as the Nyakafuru project in Tanzania. The project is located in the Lake Victoria Gold Fields in northern Tanzania, 140... 

Altus discovers high-grade gold prospects at its Egypt projects

By: Tasneem Bulbulia     31st May 2022 Aim-listed Altus Strategies has announced the discovery of multiple high-grade gold prospects from reconnaissance sampling across all four of the company’s projects in Egypt. Moreover, it has also announced the award of two further gold exploration licences, totalling 349 km2, which will increase... 

Gold Fields sets sights on further growth with proposed buyout of Yamana 

By: Tasneem Bulbulia     31st May 2022 JSE- and NYSE-listed Gold Fields and Americas-focused gold producer Yamana Gold have entered into a definitive agreement under which Gold Fields will acquire all of the outstanding common shares of Yamana Gold pursuant to a plan of arrangement. The transaction implies a valuation for Yamana of... 

An image of Gold Fields CEO Chris Griffith
Chris Griffith

Silverton buys Mexico gold/silver deposit

By: Creamer Media Reporter      31st May 2022 TSX-V-listed Silverton Metals on Monday announced the acquisition of an underexplored, high-grade epithermal gold/silver deposit in Mexico. The company would buy the Margaritas property, comprising two concessions totalling 500 ha in Durango, from Zapata Exploration and 0924682, a private company... 

Osisko Development wraps up Tintic acquisition

By: Creamer Media Reporter      31st May 2022 TSX-V and NYSE-listed Osisko Development has completed its previously announced acquisition of Tintic Consolidated Metal, which owns the producing Trixie test mine and mineral claims in central Utah. “With the acquisition of Tintic we have inherited not only a highly prospective test mine in the... 

Geopacific resumes trading, looks at options for Woodlark

By: Esmarie Iannucci     31st May 2022 Embattled Geopacific Resources resumed share trading on the ASX after completing a range of corporate initiatives aimed at cutting costs. The company earlier this year warned of material increases to the capital cost of its Woodlark gold project, in Papua New Guinea, and subsequently suspended... 

Sibanye appoints chief regional officers for Americas, Southern Africa

By: Creamer Media Reporter      31st May 2022 Multinational mining and metals group Sibanye-Stillwater has appointed Charles Carter as Americas chief regional officer, with effect from June 1, as the group establishes a regionalised leadership structure to help it deliver on its corporate strategy. The new regionalised leadership structure... 

AngloGold Ashanti to list on A2X

By: Darren Parker     30th May 2022 Gold miner AngloGold Ashanti has been approved for a secondary listing on A2X, where its shares will be available for trade from June 6. AngloGold said on May 30 that it believed the A2X listing would allow a new, competitively priced, alternative platform for investors to trade shares of the... 

Predictive to raise A$55m for Guinea work

By: Esmarie Iannucci     30th May 2022 ASX-listed Predictive Discovery is hoping to raise A$55-million through a share placement to institutional, sophisticated and professional investors to fund work at its Bankan gold project, in Guinea. The company on Monday said that it had received firm commitments for the share placement, which... 

Australian gold production falls

30th May 2022 Australia’s gold production declined by 6% in the March quarter to 76 t compared with 81 t produced in the December quarter 2021,Melbourne-based mining consultants Surbiton Associates reported this week. The decline was partly due to the effects of Covid-19 which restricted some operations,... 

Gold Road ups the offer for DGO

By: Esmarie Iannucci     30th May 2022 Gold miner Gold Road Resources has increased its takeover offer for fellow listed DGO Gold from 2.16 Gold Road shares to 2.25 Gold Road shares for every DGO share held, and has extended the takeover period until the end of June. Gold Road on Monday said that its improved offer for DGO would be... 

Image shows ASX trading screens

Gascoyne sells Mumbakine Well to Capricorn

By: Esmarie Iannucci     30th May 2022 Gold junior Gascoyne Resources has struck a A$4.75-million deal with fellow listed Capricorn Metals to divest of its non-core Mumbakine well project, in the Pilbara. Mumbakine Well lies immediately adjacent to the Bibra deposit that hosts Capricorn’s recently commissioned Karlawinda gold... 

Two more miners found dead in flooded Burkina Faso mine

By: Reuters     30th May 2022 The dead bodies of two more missing miners have been found at a zinc mine owned by Trevali Mining Corp in Burkina Faso that flooded last month, the government said on Saturday. The bodies of four of the eight missing miners were found earlier this week. Hopes of finding survivors vanished last... 

Hummingbird working to bring second asset into production following 2021 losses

By: Darren Parker     27th May 2022 Aim-listed Hummingbird Resources has reported a diluted loss a share of $2.78c for the financial year ended December 31, 2021, compared with the earnings a share of $5.02c reported for the 2020 financial year. Hummingbird currently has two core gold projects, the producing Yanfolila gold mine, in... 

Yanfolila gold mine in Mali
Yanfolila gold mine in Mali

Barrick makes major Tanzania social, skills and infrastructure commitment

By: Creamer Media Reporter      27th May 2022 Canada-headquartered bullion major Barrick Gold on Friday announced that it would spend $6 for every ounce of gold sold by its two mines in Tanzania on improving healthcare, education, infrastructure and access to potable water in the surrounding communities. At the same time, the miner has... 

Bulyanhulu has been resuscitated as a long-life underground mine.

Botswana mining sector on the rebound

By: Halima Frost     27th May 2022 The Botswana mining sector is on the rebound, following the onset of the Covid-19 pandemic, as well as the sustained period of subdued commodities prices from 2015 to 2019, industry organisation Botswana Chamber of Mines CEO Charles Siwawa tells Mining Weekly. He adds that the rebound can be... 

A large uncut diamond on a bed of black kimberlite from a mine in Botswana
DIAMOND IN THE ROUGH The mining sector in Botswana holds great potential for investors according to the Botswana Chamber of Mines
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