ANALYSIS: It's not often that hyperbole merges with reality when it comes to resources, but WA's gold sector has just thrown conventional wisdom out the window.
The Perth-based subsidiary of Watpac has won a $38 million contract to provide its services to Silver Lake Resources' Imperial and Majestic gold deposits south of Kalgoorlie.
Local gold miners Saracen Mineral Holdings, Silver Lake Resources and St Barbara reported a profitable six months, however shareholders won't be seeing any returns in the form of dividends.
Silver Lake Resources is selling off its non-core assets in the Murchison region, with Metals X acquiring its Comet gold project and Musgrave Minerals agreeing to buy a large portion of its Cue project.
Gold miner Silver Lake Resources plans to boost its exploration spending by 60 per cent in the current financial year on the back of a strong improvement in its current and forecast cash position.
Shares in local gold miners have dominated on the ASX today after the spot price for the precious metal jumped by over 2 per cent overnight to $US1,203.30 an ounce
Gold miner Silver Lake Resources has cut its production guidance for the current financial year and reported higher costs, triggering a 23 per cent dive in its share price.
Silver Lake Resources has entered into a binding heads of agreement with a private consortium for the sale of its Lakewood Mill near Kalgoorlie for $5.5 million.
Silver Lake Resources founding managing director Les Davis will step down from his role in November, leaving current executive director Luke Tonkin to fill his shoes.
FEATURE: Les Davis and Bill Beament are two of the Western Australian gold industry's most influential people, but the person who has infinitely more power over gold in WA than the chief executives of Silver Lake and Northern Star doesn't live here.
FEATURE: If the adage ‘three strikes and you're out' applied to the gold mining industry, the curtains would already have been drawn; but some determined locals are fighting on.
Silver Lake Resources continues to be buffeted by a low gold price, with operating losses at its Murchison operation and impairments dragging it to a $170 million loss.
The significant social and economic benefits generated by Western Australia's gold mining industry will be highlighted in a public awareness campaign launched today at the 2014 Diggers & Dealer
Gold and copper explorer Silver Lake Resources has reached agreement with Newcrest Mining for acquisition of its share of the Mount Monger joint venture for around $1.5 million.
FEATURE: An investment in each of the 10 largest capital raisings by companies in Western Australia during 2013 would be 14 per cent underwater at current prices, according to research conducted by Business News.
Silver Lake Resources has flagged more job losses in July with the announcement that it plans to close its Lakewood facility in Kalgoorlie, which is the company's second plant to shut down this year.
The latest round of Western Australia's Exploration Incentive Scheme will pump almost $5 million into the search for minerals and petroleum at a crucial time for the state's resources industry.
The quarterly rebalance of the Australian stockmarket Indices has pushed Perth companies Regis Resources, Ausdrill and Silver Lake Resources out of their S&P/ASX indices.
Copper and gold explorer Stavely Minerals debuted on the ASX today in what was the first float by a Western Australia-based minerals play in more than a year.
SPECIAL REPORT: The gold and technology sectors have experienced a boost in investment activity for the March quarter, but doubts remain over whether it will last.
Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.
Silver Lake Resources will place its Murchison gold operations on care and maintenance later this year, saying the project is no longer sustainable at the current gold price.
The market capitalisation of Western Australia's top 100 listed companies has fallen on the back of lower commodity prices, marking an end to four months of consecutive gains.
Gold miner Silver Lake Resources has said it is not in a position to pay dividends, with volatile gold prices and the state government's minerals royalty review remaining as threats to its balance sheet.
Western Australia's gold sector is rallying against a potential increase in royalty rates, saying such a move would significantly hurt country towns as well as local producers of the precious metal.
