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Gold News

Big River cuts costs at Borborema

By: Esmarie Iannucci     30th March 2021 Gold developer Big River Gold has flagged potential capital cost savings for its Borborema gold project, in Brazil. The ASX-listed company on Tuesday told shareholders that it had completed an option study reviewing and optimising the process plant design for the gold project. 

PIC says gold M&A must produce local benefits

By: Bloomberg     30th March 2021 Africa’s biggest fund manager and a key investor in South African gold companies said any consolidation in the sector must benefit the country as well as shareholders. The Public Investment Corporation (PIC), which manages R1.91-trillion of mainly South African government worker pensions, has a... 

Maiden resource reported at Dandoko

By: Esmarie Iannucci     30th March 2021 Junior Oklo Resources has reported a maiden Joint Ore Reserves Committee compliant resource of 11.3-million tonnes, at 1.83 g/t for 668 500 oz of contained gold at its flagship Dandoko project, in Mali. The ASX-listed company on Tuesday noted that some 56% of the contained ounces was within the... 

Mali denies B2Gold exploration permit renewal

By: Creamer Media Reporter      30th March 2021 Vancouver-headquartered B2Gold said on Monday that the Mali government had not renewed the Menankoto exploration permit, which formed part of the Anaconda area located about 20 km north of the Fekola mine licence area. The company’s Malian subsidiary applied for a one-year renewal of the permit... 

Russian gold miner GV Gold postpones IPO

By: Reuters     29th March 2021 Russian mid-sized gold producer GV Gold has decided to postpone an initial public offering (IPO) of its shares in Moscow, it said on Monday, confirming an earlier source-based report by Reuters. Its shareholders, including U.S. fund BlackRock, planned to raise $450-million to $560-million by... 

Russian gold miner GV Gold postpones IPO

McEwen reaches resolution with communities near El Gallo

By: Mariaan Webb     29th March 2021 Activities at the El Gallo gold mine, in Mexico, have been restored, NYSE- and TSX-listed McEwen Mining reported on Monday, announcing that it had reached a new ten-year agreement with nearby communities. The agreement provided for additional support the communities and greater long-term... 

Nordgold inks $100m ESG-linked credit facility

By: Donna Slater     29th March 2021 Wholly-owned subsidiary of diversified gold producer Nordgold, Celtic Resources, has entered into a two-year $100-million environment, social and corporate governance- (ESG-) linked revolving credit facility with a group of international banks. Nordgold intends to use the proceeds of the... 

More drilling planned at Donlin this year

By: Creamer Media Reporter      29th March 2021 Donlin Gold, the 50:50 joint venture between Barrick Gold and Novagold Resources, has confirmed a follow-up drill programme for the Alaska project this year, following the strong outcome of its 2020 campaign. Additional confirmation and extension drilling is planned, with specifics to be... 

Bardoc's gold project to cost A$177m

By: Esmarie Iannucci     29th March 2021 A definitive feasibility study (DFS) into the Bardoc gold project, in Western Australia, has estimated that the project could produce some 135 760 oz/y over a mine life of just over eight years. ASX-listed Bardoc Gold on Monday reported that the project would require a capital investment of... 

Aus resource exports strong despite Covid

By: Esmarie Iannucci     29th March 2021 Despite the restrictions brought on by the Covid-19 pandemic, Australian resource exports are expected to reach a record A$296-billion in 2020/21, and will remain strong over the next five years, the latest Resources and Energy Quarterly from the Department of Industry, Science, Energy and... 

Aus resource exports strong despite Covid

Josemaria announces C$41m financing

By: Creamer Media Reporter      26th March 2021 Toronto-listed Josemaria Resources, part of the Lundin Group, on Thursday announced financing initiatives totalling C$41-million to continue to advance its namesake copper/gold project in San Juan, Argentina. The company has entered into an agreement with a syndicate of underwriters led by BMO... 

Santo Domingo gold stream, port and potential rail deals could cut capex by $700m

By: Mariaan Webb     26th March 2021 Vancouver-based Capstone Mining on Thursday announced three agreements to advance the Santo Domingo project, in Chile, including a $290-million gold stream with Wheaton Precious Metals, a binding port deal and the consolidation of its ownership in the project. The $1.5-billion copper project... 

SA Mint rounds out Big Five collectors coin range with release of Buffalo coin

By: Donna Slater     26th March 2021 The South African (SA) Mint, a wholly-owned subsidiary of the South African Reserve Bank, has released two new coin ranges for this year, including the highly-anticipated Big Five African Buffalo coin. Introduced in 2019, the Elephant, Lion, Rhinoceros and the Leopard have already been issued as... 

SA Mint rounds out Big Five collectors coin range with release of Buffalo coin
The newly minted Big Five African Buffalo coin

Lundin Gold starts drilling at Barbasco target

By: Creamer Media Reporter      25th March 2021 Ecuador-focused Lundin Gold has started its 9 000 m regional exploration drill programme, with the first drill hole now in progress on the Barbasco target. The regional exploration programme will focus on two high priority targets – Barbasco and Puente-Princesa – to test for mineralisation in a... 

Canadian miner meets Mexican officials over labour dispute

By: Reuters     25th March 2021 Canadian mining company Americas Gold and Silver said late on Tuesday it had held talks with senior Mexican officials in a bid to resolve a dispute at one of its mines in the northern Mexican state of Sinaloa. The company has been embroiled in a labor dispute at the mine, and last week President... 

Wiluna shakes the tin for Stage 1

By: Esmarie Iannucci     25th March 2021 Gold developer Wiluna Mining has announced a major capital raising initiative to fund the Stage 1 development of its Wiluna project, in Western Australia. The ASX-listed company on Thursday said that it would raise an initial A$7.5-million to sophisticated investors. The share placement would be... 

Calidus raises Blue Spec funds

By: Esmarie Iannucci     25th March 2021 ASX-listed Calidus Resources will raise A$12.5-million through a share placement to fund work at its Blue Spec gold project, in Western Australia. The junior on Thursday said that it had received firm commitments for the placement of some 31.25-million shares, priced at 40c each to professional... 

Resolute's mining lease terminated at Bibiani

By: Esmarie Iannucci     24th March 2021 Gold miner Resolute Mining on Wednesday said that it was seeking legal advice after being informed by the Ghanaian Minerals Commission that its mining lease for the Bibiani gold mine had been terminated. Resolute has been ordered to cease all activities and operations at the mine site. The miner... 

Resolute's mining lease terminated at Bibiani

Anglogold Ashanti to release exploration data for research purposes, sale to explorers 

By: Donna Slater     24th March 2021 Gold miner AngloGold Ashanti is set to avail a wealth of South African exploration data to academics for research purposes in an effort to preserve geological heritage and enable research that might otherwise not be possible. The information contained within the new online application – the SA... 

Anglogold Ashanti to release exploration data for research purposes, sale to explorers

Newcrest redeems $380m of bonds

By: Esmarie Iannucci     24th March 2021 Gold miner Newcrest Mining has started the mandatory redemption of its outstanding $380-million in 4.2% senior guaranteed notes, which mature in October next year. The company said on Wednesday that the notes would be cancelled upon redemption. 

Master Drilling advancing mechanisation for two top-tier local clients  

By: Martin Creamer     23rd March 2021 Mine mechanisation is being advanced for two top-tier  local clients of Master Drilling, the CEO of the JSE-listed company, Danie Pretorius, said on Tuesday. Speaking to Mining Weekly in a Zoom interview after reporting 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to... 

Master Drilling advancing mechanisation for two top-tier local clients
Master Drilling CEO Danie Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Caledonia declares dividend buoyed by gold price, increased production

By: Donna Slater     23rd March 2021 Aim- and NYSE-listed gold miner Caledonia Mining Corporation generated gross revenue of $100-million for the year ended December 31, 2020, up from the $75.8-million in 2019; while net cash from operating activities reached $30.9-million. Total dividends paid for the 2020 financial year were $0.33... 

Remote-operation drilling footprint providing sizeable benefit – Master Drilling  

By: Martin Creamer     23rd March 2021 An increased remote-operation drilling footprint is providing considerable benefit for Master Drilling, the JSE-listed drilling services company said on Tuesday, when it reported 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to $42.1-million, and a halved gearing ratio to... 

Remote-operation drilling footprint providing sizeable benefit – Master Drilling
Master Drilling results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Tabakorole exploration results in potential new gold parallel zone

By: Donna Slater     23rd March 2021 The final results of a 6 300 m reverse circulation (RC) drilling programme at Aim- and TSX-V-listed precious metals miner Altus Strategies’ Tabakorole gold project, in southern Mali, has resulted in the discovery of a potential new parallel zone of mineralisation, as well as an extension of the... 

Russian gold miner GV Gold sets price range for IPO

By: Reuters     23rd March 2021 Shareholders of Russia's GV Gold, including US fund BlackRock, aim to raise $450-million to $560-million by selling about 37% of the mid-sized gold miner through an initial public offering (IPO) in Moscow. GV Gold on Tuesday set its IPO price range at 1 650 to 2 050 roubles ($21.74 to $27.01)... 

Russian gold miner GV Gold sets price range for IPO

Camino Rojo oxide project construction continuing apace

By: Creamer Media Reporter      23rd March 2021 Dual-listed Orla Mining is on track to pour first gold from the Camino Rojo oxide project, in Mexico, by the end of the year, president and CEO Jason Simpson said on Monday, in a construction update. He reported that detailed engineering and procurement were well-advanced, positioning the... 

Agnico Eagle sells two projects in Finland and Sweden

By: Mariaan Webb     23rd March 2021 Canadian gold miner Agnico Eagle will sell its Oijärvi gold project, in central Finland, and the Solvik gold project, in southern Sweden for $10-million to Gold Line Resources, in a transaction that will expand the TSX-V-listed junior's existing portfolio in the Nordic region. The transaction... 

Rex adds to Nevada ounces

By: Esmarie Iannucci     23rd March 2021 Junior Rex Resources has nearly doubled the gold resource at its Hog Ranch gold project, in Nevada. The ASX-listed company on Tuesday announced the combined mineral resource for the Hog Ranch project had increased from 1.4-million ounces to 2.2-million ounces. 

Master Drilling in muted but resilient 2020 performance 

By: Martin Creamer     23rd March 2021 Drilling services company Master Drilling, which operates in 23 countries and which is continuing to grow its presence in new global markets, on Tuesday reported a “muted but resilient performance” for the full year ended December 31, thanks to what it described as a “flexible business model and... 

Master Drilling in muted but resilient 2020 performance
Photo by Creamer Media
Master Drilling CEO Danie Pretorius.

Canada's Novo takes a stake in Victorian gold project

By: Esmarie Iannucci     23rd March 2021 Canadian gold explorer Novo Resources Corporation has exercised its joint venture (JV) with ASX-listed Kalamazoo Resources to earn a 50% in that company’s Queens gold project, in Victoria. Under the terms of the JV agreement, Novo has paid Kalamazoo A$2-million to exercise the consideration. 

Castle Mountain Phase 2 to expand output to over 200 000 oz/y – Equinox Gold

By: Mariaan Webb     23rd March 2021 The Phase 2 expansion of the Castle Mountain gold mine, in California, will increase production to more than 200 000 oz/y, at an all-in sustaining cost of $858/oz, TSX- and NYSE-listed Equinox Gold said on Monday, announcing the results of a feasibility study. Phase 1 of the mine achieved... 

Castle Mountain Phase 2 to expand output to over 200 000 oz/y – Equinox Gold

Gold drops as dollar strengthens, traders focus on bond auctions

By: Bloomberg     22nd March 2021 Gold declined as the dollar remained resilient and 10-year Treasury yields held near the highest level in more than a year, weighing on the precious metal which doesn’t offer interest. Investors will turn their attention to a heavy slate of bond auctions focused in maturities that have gotten... 

Nordgold profits off higher gold price, sale of Cardinal Resources shares

By: Donna Slater     19th March 2021 Diversified gold producer Nordgold reports that its adjusted earnings before interest, taxes, depreciation and amortisation increased by 52% year-on-year to a record $1.01-billion in 2020. This performance was mainly the result of a more favourable gold price environment and a stable cash cost... 

Bristow optimistic Porgera will reopen this year 

By: Creamer Media Reporter      19th March 2021 Canada-headquartered Barrick Gold is continuing to negotiate with the government of Papua New Guinea about the Porgera mine, which entered care and maintenance nearly a year ago. Barrick CEO Mark Bristow says teams from both sides continue to work on the details of a mutually acceptable... 

Bristow optimistic Porgera will reopen this year

Sibanye, Johnson Matthey partner to boost battery technology, low-carbon development 

By: Donna Slater     19th March 2021 LSE-listed sustainable technologies company Johnson Matthey and JSE- and NYSE-listed gold and platinum group metals (PGMs) miner Sibanye-Stillwater have formed a strategic partnership to secure critical metals and accelerate new battery technologies for a low-carbon future. The collaboration will... 

Sibanye, Johnson Matthey partner to boost battery technology, low-carbon development

Red 5 completes institutional raise

By: Esmarie Iannucci     19th March 2021 Gold miner Red 5 has completed the institutional component of its 4-for-21, fully underwritten accelerated non-renounceable entitlement offer, raising some A$39-million. The company earlier this week unveiled a A$175-million finance facility to fully fund the development of its... 

Ascot says BC gold project will cost 20% more

By: Mariaan Webb     19th March 2021 TSX-listed Ascot Resources has revised the initial capital estimate for the Premier gold project, in northern British Columbia, adding 20% to its estimated expenditure to bring the past-producing mine back into operation. Ascot in April last year announced a C$147-million capital estimate for... 

Ascot says BC gold project will cost 20% more

i-80 Gold concludes capital raising to execute on strategy

By: Creamer Media Reporter      19th March 2021 Toronto-listed Premier Gold Mines subsidiary i-80 Gold has closed its previously announced private placement offering of 30 914 614 subscription receipts of i-80, raising about C$80.4-million. "Upon closing of this financing, i-80 will have the balance sheet to execute on its business strategy,”... 

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