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Gold News

SolGold shortlisting traders to finalise Alpala offtake, funding support

By: Mariaan Webb     16th April 2020 Dual-listed SolGold has received strong responses from leading commodity traders to its recent invitation to submit expression of interests (EoI) for the offtake of copper/gold/silver concentrate from its Alpala project, in Ecuador. The company said the high-quality of the concentrate from its... 

PEA under way at Altus’ Diba gold project in Mali

By: Tasneem Bulbulia     16th April 2020 Dual-listed Altus Strategies has appointed independent consulting firm Mining Plus UK to update the historic resource and complete a preliminary economic assessment (PEA) for an openpit oxide gold mine at the company's Diba project, in western Mali. Diba is strategically located 13 km south of... 

Gold giant Newmont says metal could top $2 000 on virus stimulus

By: Bloomberg     16th April 2020 Gold could top $2 000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont, the world’s top miner of the precious metal. “The level of stimulus globally that’s going into the... 

Gold giant Newmont says metal could top $2 000 on virus stimulus
Newmont CEO Tom Palmer

Kodal secures exploration licence extensions in Côte d’Ivoire

By: Marleny Arnoldi     16th April 2020 Aim-listed gold project developer Kodal Minerals has received renewals on its exploration licences for the Dabakala and Korhogo concessions, in Côte d’Ivoire, for a further three years to April 2023. The company is, however, still awaiting an exploration licence renewal for its Boundiali... 

Capital Drilling reports strong growth as gold rallies

By: Donna Slater     16th April 2020 Africa-focused mining services company Capital Drilling on April 16 reported a 20.4% year-on-year and a 5.9% quarter-on-quarter increase in revenue to $32.5-million for the first quarter of this year. The company also reported that it had, thus far, not been materially impacted on by the... 

Resolute finds more oxide ore at Syama

By: Esmarie Iannucci     16th April 2020 Gold miner Resolute Mining has identified new oxide mineralisation at satellite deposits at its Syama gold mine, in Mali. The company on Thursday said that exploration at Syama North had demonstrated potential for a return to oxide mining at areas near the previously mined Beta and BA01... 

Alto denies counter offer from new shareholder

By: Esmarie Iannucci     16th April 2020 Takeover target Alto Metals on Thursday confirmed that it was in talks with privately held Adaman Resources around the potential divestment of its Sandstone project, but denied that it had received a competing takeover offer from the company. Alto was responding to reports that it had received... 

Hummingbird maintains gold output guidance, advances drilling

By: Marleny Arnoldi     16th April 2020 Aim-listed gold miner Hummingbird Resources is on track to meet its guidance of producing between 110 000 oz and 125 000 oz of gold this year, after achieving decent production in the first quarter of the year and amid minimal Covid-19 impacts. The company produced 30 282 oz at its Yanfolila... 

Ascot outlines low capital restart plan for BC gold project

By: Creamer Media Reporter      16th April 2020 The current strong gold price environment, robust projected economics and quick payback creates an attractive opportunity for TSX-listed Ascot Resources to build its mine in the Golden Triangle, British Columbia, president and CEO Derek White said on Wednesday. Announcing the outcomes of a... 

DRDGold resumes work at reduced levels 

By: Martin Creamer     16th April 2020 Surface gold mining company DRDGold announced on Thursday that work had resumed at reduced levels at the tailings miner's Ergo operation on the East Rand and also at its Far West Gold Recoveries operation. At the Ergo operation, 34% of staff, working a two-shift cycle with a third on standby,... 

DRDGold resumes work at reduced levels
Photo by Creamer Media
DRDGold CEO Niël Pretorius

Force majeure forces Core Gold's hand in Ecuador

By: Esmarie Iannucci     16th April 2020 ASX-listed Titan Minerals has announced that its 91%-held subsidiary Core Gold would indefinitely suspend all of its production operations and commercial activities in Ecuador, owing to a force majeure resulting from the Covid-19 pandemic. The Canadian gold miner in March temporarily suspended... 

AngloGold restarts surface operations on limited basis  

By: Martin Creamer     15th April 2020 The surface operations of gold mining company AngloGold Ashanti have restarted on a limited basis following the granting of recommencement permission by South Africa’s Department of Mineral Resources and Energy. The company said in a media release on Wednesday that the restart involved the... 

AngloGold restarts surface operations on limited basis
Photo by Bloomberg
AngloGold CEO Kelvin Dushnisky

Thor Explorations secures funding for Nigeria gold project

By: Simone Liedtke     15th April 2020 TSX-V-listed Thor Explorations has executed its definitive documents with the Africa Finance Corporation (AFC) to secure all the funding needed for the Segilola gold project, in Nigeria, and has made the final investment decision to proceed with construction. Construction at the project will... 

Group asks Mantashe to reconsider which mines really are essential

By: Donna Slater     15th April 2020 A group of civil society organisations has, in a letter, called on Mineral Resources and Energy Minister Gwede Mantashe to impose stricter policy on mining operations that are allowed to return to work during the national lockdown. It argues that a number of exceptions have been granted for... 

Newmont sets up $20m Covid-19 support fund

By: Martin Creamer     15th April 2020 Gold mining company Newmont has established a $20-million community support fund to help host communities, governments and employees combat the Covid-19 pandemic. The New York- and Toronto-listed company, with operations in North America, South America and Australia and Africa, is partnering with... 

Newmont sets up $20m Covid-19 support fund
Photo by Bloomberg
Newmont CEO Tom Palmer

Chaarat Gold to raise at least $12m in placing

By: Creamer Media Reporter      15th April 2020 Aim-quoted gold mining company Chaarat will raise at least $12-million through the issue of new shares in the company at 26p a share. The company, which has assets in Kyrgyzstan and Armenia, said on Wednesday that it already had commitments from its major shareholders, all board members and... 

With baby steps, Canada’s provinces prepare for a return to work

By: Bloomberg     15th April 2020 When workers at Agnico Eagle Mines report back to work today at the LaRonde gold mine in Quebec’s Abitibi region, they’ll arrive in staggered groups at three separate entrances. Before they’re allowed in, a nurse will take their temperatures and give them a screening questionnaire. Assuming they... 

With baby steps, Canada’s provinces prepare for a return to work
The La Ronde mine, in Quebec's Abitibi region.

Harmony Gold, NUM agree on May 2 return date 

By: Martin Creamer     15th April 2020 The National Union of Mineworkers (NUM) and gold mining company Harmony have to May 2 as the return-to work date following South Africa’s Covid-19 lockdown. This agreement followed a meeting at Harmony’s offices in Randfontein on Tuesday, NUM general secretary David Kolekile Sipunzi said in a... 

Harmony Gold, NUM agree on May 2 return date
David Kolekile Sipunzi

Medusa restarts Co-O

By: Esmarie Iannucci     15th April 2020 ASX-listed Medusa Mining has resumed operations at the Co-O gold mine, in the Philippines. Operations were temporarily suspended last week after the province in which the Co-O mine is located was placed under Enhanced Community Quarantine following an Executive Order issued by the Provincial... 

Gran Colombia delivers decent gold output despite fewer workers in March

By: Marleny Arnoldi     15th April 2020 TSX-listed Gran Colombia Gold in the first quarter of the year produced 56 247 oz of gold, compared with 60 601 oz produced in the first quarter of last year. CEO Lombardo Paredes says while the first quarter’s production is pleasing, it came in lower than expected owing to the impact of... 

Oz maintains outlook following first quarter

By: Esmarie Iannucci     15th April 2020 Copper/gold miner Oz Minerals has maintained its production guidance for the full 2020 following a strong start to the financial year, and despite the impacts wrought by the Covid-19 pandemic. “Despite the Covid-19 pandemic constraints and response to protect the health of our employees, other... 

Oz maintains outlook following first quarter

American Pacific buys Montana copper/gold project

By: Creamer Media Reporter      15th April 2020 US-focused gold explorer American Pacific Mining (APM) has signed a definitive agreement to buy private miner Madison Metals’ interest in its namesake copper/gold project, in Montana, US. The Madison project is a fully-permitted, past producing copper/gold mine that is under option to Rio... 

McEwen restarts Black Fox, provides update on other mines

By: Creamer Media Reporter      14th April 2020 Dual-listed McEwen Mining will immediately restart operations at the Black Fox mine, in Timmins, Canada, and said that its 49%-owned San Jose mine, in Argentina, would also restart. Production at the Black Fox mine was suspended on March 26 for two weeks to allow the management time to evaluate... 

Surface gold operations at 70% of capacity – Pan African

By: Martin Creamer     14th April 2020 The surface operations of gold-mining company Pan African are functioning at 70% of normal production capacity, but with only 26% of the workforce, the company said in a stock exchange news service (SENS) announcement on Tuesday. The SENS notice stated that the surface remining and processing... 

Surface gold operations at 70% of capacity – Pan African
Photo by Creamer Media
Cobus Loots

Barrick gains exclusive right to project adjacent to Pueblo Viejo

By: Mariaan Webb     14th April 2020 NYSE- and TSX-listed major Barrick Gold has bought a 13.67% shareholding in the company that owns a project adjacent to its Pueblo Viejo mine, in the Dominican Republic. Barrick agreed to acquire 12 713 636 common shares in Vancouver-based Precipitate Gold at C$0.11 a share, for an aggregate... 

Canada's Quebec allows mining to resume as an essential service

By: Mariaan Webb     14th April 2020 The government of Quebec is allowing mines to reopen as essential services from Wednesday, but only if they can comply with strict measures to limit the spread of Covid-19. Mining companies, including Agnico Eagle, Eldorado Gold, Glencore, Hecla Mining Company, Iamgold and Yamana Gold, have... 

Canada's Quebec allows mining to resume as an essential service
Eldorado Gold's Lamaque mine, in Quebec.

First underground ore processed at Sanbrado

By: Tasneem Bulbulia     14th April 2020 ASX-listed West African Resources this month processed the first underground ore at its Sanbrado gold project in Burkina Faso. In March, the company poured its first gold at Sanbrado. The first underground development ore was also mined and stockpiled in March, and was ready for processing. 

Sandstone resources grow

By: Esmarie Iannucci     14th April 2020 The share price of gold miner Middle Island Resources closed 25% higher on Tuesday after the company announced a 500 000 oz inferred mineral resource estimate for the Two Mile Hill deeps gold deposit, at its Sandstone project in Western Australia. The ASX-listed company told shareholders that... 

Anova adjusts capital raise

By: Esmarie Iannucci     14th April 2020 Gold hopeful Anova Metals has announced a revision to its earlier entitlement offer as part of its efforts to raise A$6.9-million. The company at the beginning of March announced an entitlement offer of one new share for every two shares held, priced at 1c a share, to raise A$3.4-million. 

Mexican mine Penasquito suspends operations due to coronavirus

By: Reuters     14th April 2020 Mexico's Peñasquito mine, one of the country's leading gold and silver producers, said on Monday that it had temporarily suspended operations to comply with government restrictions aimed at curbing the spread of the coronavirus. In early April, US mining giant Newmont, which operates the mine,... 

Gascoyne posts record production

By: Esmarie Iannucci     14th April 2020 Gold miner Gascoyne Resources has reported a record quarter of production from its Dalgaranga project, in Western Australia, for the three months to March. Gold production in the Mach quarter reached 18 841 oz, up from the 12 088 oz produced in the previous corresponding period, with Gascoyne... 

Gold’s powerful rally brings $1 800 into view as spreads yawn 

By: Bloomberg     14th April 2020 Gold extended a rally to hit the highest level in more than seven years on concern that the coronavirus pandemic will have a devastating effect on the global economy, hammering corporate earnings while supercharging demand for havens. Bullion has soared as the outbreak tipped economies into... 

Gold’s powerful rally brings $1 800 into view as spreads yawn

Yamana sells Equinox Gold shares, warrants for up to C$201m

By: Mariaan Webb     13th April 2020 Canadian gold senior Yamana Gold on Monday announced that it would sell shares and warrants in Vancouver-headquartered Equinox Gold for C$201-million. The miner entered into an agreement with Stifel and Cormark Securities to sell 12-million units at C$10 each to qualified purchasers, for gross... 

Barrick to explore the El Quevar project, Argentina

By: Creamer Media Reporter      13th April 2020 Gold major Barrick Gold has acquired an option to earn a 70% interest in the El Quevar project, Argentina, Colorado-based precious metals exploration and development company Golden Minerals announced on Monday. Barrick will purchase $1-million of Golden Minerals shares pursuant to a private... 

Sibanye-Stillwater top-brass donate third of pay to Covid-19 fund 

By: Martin Creamer     13th April 2020 The board and executive management of precious metals mining company Sibanye-Stillwater on Monday unanimously elected to contribute a third of their remuneration, for the next three months, to the national Solidarity fund, established to cushion the impact of the Covid-19 pandemic on the most... 

Sibanye-Stillwater top-brass donate third of pay to Covid-19 fund
Photo by Creamer Media
Neal Froneman

Armed group robs Mexican gold mine, flees in plane

By: Reuters     13th April 2020 An armed group stormed a gold mine in northern Mexico and stole bars of gold and silver alloy before fleeing in a light aircraft, mine operator Minas de Oro Nacional said. Minas de Oro Nacional, a subsidiary of Canadian firm Alamos Gold, said in a statement last week that the robbery at the... 

Armed group robs Mexican gold mine, flees in plane
The Mulanos mine, owned by Alamos Gold, was hit in the armed robbery.

Gold jumps to seven-year high as Fed unleashes new emergency aid 

By: Bloomberg     10th April 2020 Gold reached a seven-year high as massive US filings for jobless benefits and sweeping steps by the Federal Reserve to shore up the economy bolstered demand for the metal as a haven. Futures advanced as much as 4.2% after the Fed announced as much as $2.3-trillion in additional aid Thursday,... 

Gold miner announces doubling of resources

10th April 2020 Gold miner Tanzanian Gold Corporation announced last month that it had received an update of the estimated mineral resources in the company’s Buckreef Shear Zone, from engineering services provider Virimai Projects, the company’s technical adviser. The update more than doubles the estimated... 

Gold miner announces doubling of resources
Photo by Bloomberg
GOLD DOUBLE UP The updated mineral resource for the Buckreef Shear Zone, measured and indicated, totals about 40.9-million tonnes grading 1.73 g/t and comprising 2.27-million ounces of gold
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