GOLD WRAP: Kalgoorlie Super Pit owner Northern Star Resources generated gold production and cash flow records last financial year, but was impacted by constraints at its Yandal hub.
In a significant move poised to bolster the immediate direction of its multi-mineral pursuits, White Cliff Minerals has secured well-known mining mogul John Hancock as a strategic advisor to its board. The company has engaged the son of Australia's richest woman Gina Rinehart as it gears up for a substantial expansion of its project portfolio during the next year.
Westgold Resources has moved another step closer to its deal for Karora Resources, with the Canada-listed company's shareholders voting in favour of the transaction over the weekend.
This week's Bulls N' Bears Runner of the Week is … the ASX itself. The ASX 200 hit an all-time high of 8083.7 points, indicating to investors that there may just be green shoots and blue skies ahead. Small-cap companies that ran hard during a promising week included DGR Global, Labyrinth Resources, Miramar Resources and Stelar Metals.
Westgold has moved a step closer to its merger with Canadian-listed gold play Karora Resources, after its $1.2 billion deal was ticked off by the Foreign Investment Review Board.
A Westgold Resources subsidiary will pay more than $400,000 after a worker's arm was trapped in a conveyor at a processing operation in the state's Mid West.
WA gold merger aspirants Westgold and Karora will amend their $1.2 billion agreement at the direction of the Takeovers Panel, but a standstill clause on rival Ramelius Resources will remain.
Westgold Resources has trumpeted the growth potential of its impending merger with Karora Resources, after maximising the value of its gold last financial year.
The value of gold rose 15 per cent in local dollar terms over the first six months of 2024, hitting record levels driven by geopolitical tensions and wavering economic growth indicators.
Mid-tier gold player Ramelius Resources has secured a revolving debt facility worth $175 million from a syndicate of banks, in a move to free up its financial flexibility.
Westgold Resources has backed its move for Karora Resources, with the pair working towards finalising the deal by the end of July despite a rival's request for Takeovers Panel intervention.
Australian gold production fell nine per cent in The March quarter, weighed down by the impacts of severe storms which hampered output in Western Australia and other gold mining regions.
Westgold Resources will enter a strategic alliance with Ora Mining to advance the development of its Crown Prince deposit in the Murchison region, as activity in the region heats up.
Gold miner Ramelius Resources has requested Takeovers Panel intervention in Westgold Resources's move for Karora Resources, revealing an earlier agreement between itself and the acquirer.
Shaw and Partners WA State Manager Davide Bosio waxes lyrical about the stubbornness of junior gold exploration stocks that many thought would run hard or be taken over amid the highest of gold price highs. Is this a perfect setting for M&A activity? Will junior gold stocks finally be dragged skywards by the inevitable M&A activity that should flow from times like this?
Reduced production throughout the March 2024 quarter has resulted in Westgold Resources revising its annual production guidance for the 2024 financial year.
Westgold Resources has announced it will merge with Toronto-listed Karora Resources, resulting in a market capitalisation value of approximately $2.2 billion.
Less than a week after confirming it would not pursue a merger with Toronto-listed Karora Resources, gold producer Ramelius Resources has recorded its highest ever quarterly production.
Westgold Resources has ridden the wave of a higher achieved gold price during the first half of the 2024 financial year, recording a net profit after tax of $43.78 million, up from a $11.14 million loss during the prior corresponding period.
Software provider K2fly says cost management remains its major focus as the company's latest financial report today revealed a remarkable 14th consecutive quarter of annual recurring revenue growth. The ARR was at $8 million in the past quarter, up 16 per cent compared to the previous corresponding period (PCP) and revenue was at $3.4million, up 21 per cent from the PCP.
Westgold Resources has revealed it is being prosecuted over a mine site fatality after Byrnecut, Northern Star Resources and Billabong Gold were fined more than $2 million.
Software provider K2fly has initiated a sweeping strategic review of its operations in a swift boardroom move designed to maximise the full potential of its innovative resource governance software solutions. After posting 13 quarters of increasing revenue on the trot, K2Fly has vowed not to sit on those laurels and has appointed Argonaut PCF and Atrico as joint advisors to steer its review.
Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company's positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.
Westgold Resources has flicked the switch on its first hybrid power facility while also securing the green light to restart its historic gold mine in the Mid West.
Mid-tier goldminers Westgold Resources and Red 5 have both hit expected production targets after grappling with labour shortages and cost pressures during the period.
Westgold Resources has exited the takeover contest for Musgrave Minerals after announcing it didn't intend to improve its $177 million merger proposal following Ramelius Resources' offer.
After sidestepping a merger proposal from Westgold Resources, Musgrave Minerals is on board with a competing cash and scrip offer from fellow Murchison resident Ramelius Resources.
Gold junior Musgrave Minerals has knocked back Westgold Resources' $177 million merger proposal, telling shareholders to reject what it has called an ‘opportunistic' offer from the mid-tier explorer and miner.
Westgold Resources has declared its intentions to make a $177 million scrip bid for gold junior Musgrave Minerals, with both companies occupying land in the busy Murchison gold province.
Our weekly appointments wrap includes David Edwards, Laura Benger, Simon Taylor, Nathan Charles, Mark Davies, Teck Lim, Dirk Adams, Josh Robertson, Ben Bradstreet, Chris Wyhoon, Nicole Batten and Debbie Gillam.
Our weekly appointments wrap includes Nicky Long, Rebecca Adam, Matthew Beattie, Timothy Murray, Navin Gupta, Chris Robertson, Grace Mugabe, Hayden White, Jennifer Lawrence and Craig Gouws.
Meeka Metals has expanded the mineral resource at its Murchison gold project in outback WA to 1.2m ounces on the back of a 12 per cent increase to its Turnberry deposit in the historic gold-bearing region. The company is putting the finishing touches on a prefeasibility study with an eye to join several players mining in the region.
