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Raleigh Finlayson says the increased royalty payment will have to come out of funds that would otherwise be used for development and exploration. Photos: Attila Csaszar

Royalty rise puts damper on gold spend plans

The past 12 months was a period of heightened activity for Western Australia’s top gold miners, with production up and the sector planning $1 billion of investment by June next year.

Of that spend, a large amount is attributable to Newmont Mining, which is planning a big expansion at its Tanami operation, while AngloGold Ashanti and Newcrest Mining have also earmarked big investments in their WA operations for the year.

About 6.3 million ounces of gold was produced out of WA in FY17, up by around 100,000oz on FY16 figures, according to data from the BNiQ Search Engine.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/09/17

1 year TSR5 year TSR
thWestgold Resources0%0%
284thGold Road Resources14%38%
426thSaracen Mineral Holdings-9%22%
493rdIndependence Group-17%-3%
617thPerseus Mining-39%-35%
719 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

25/08/17
$4.6m Sold
02/08/17
$0 Bought
02/08/17
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

11th-Westgold Resources$438.5m
12th↓Independence Group$424.1m
13th↑Saracen Mineral Holdings$423.2m
14th↑Gold Road Resources$326.6m
15th↓Perseus Mining$289.3m
489 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Saracen Mineral Holdings

10thRaleigh Finlayson$3.222m
320thDaniel Howe$428k
348thTroy Irvin$404k
Ranked by total remuneration from all listed WA companies

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