GOLD MINES AND MINING – AUSTRALIA

Gold’s M&A to scale down as sales dry up

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 9-Jun-16

Evolution Mining and Northern Star Resources are among the mid-tier gold producers that have benefited from the asset sales programs of larger global rivals in recent years. Evolution chairman Jake Klein cautions that future opportunities for acquisitions in the sector will become limited, with fewer large projects likely to be put up for sale. He says the focus is likely to shift to exploration and development, and he has called for greater collaboration between mid-tier and small gold miners.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, NORTHERN STAR RESOURCES LIMITED – ASX NST, OCEANAGOLD CORPORATION – ASX OGC, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION, ASSOCIATION OF MINING AND EXPLORATION COMPANIES, INDEPENDENCE GROUP NL – ASX IGO, SIRIUS RESOURCES NL

Fat margins drive gold output to 12-year high

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Original article by Barry FitzGerald
The Australian – Page: 18 : 29-Feb-16

A survey by Surbiton Associates shows that total gold production in Australia rose by two tonnes in 2015, to 285 tonnes, or 9.16 million ounces. Production also increased by one tonne year-on-year in the December quarter, to 73 tonnes. Surbiton’s Sandra Close expects gold production to remain strong in 2016, with several mines resuming operation.

CORPORATES
SURBITON ASSOCIATES PTY LTD, METALS X LIMITED – ASX MLX, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, BLACKHAM RESOURCES LIMITED – ASX BLK, BARCLAYS BANK PLC

Newcrest pays $36m to settle class action

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Original article by Barry FitzGerald
The Australian – Page: 20 : 23-Feb-16

Gold producer Newcrest Mining has agreed to a $A36m out-of-court settlement in a class action over its disclosure standards. The case was scheduled to begin on 29 February 2016, but Newcrest has decided that a settlement is in the best interests of shareholders. Plaintiff law firm Slater & Gordon initiated a class action on behalf of shareholders with regard to Newcrest’s breach of continuous disclosure requirements in 2012 and 2013.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SLATER AND GORDON LIMITED – ASX SGH, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Newcrest dividend back on the cards

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Original article by Barry FitzGerald
The Australian – Page: 20 : 16-Feb-16

Newcrest Mining has reported a 2015-16 interim net profit of $US63m, compared with $US180m previously. The result was marred by a sharp fall in the price of gold and copper during the half-year. Newcrest’s net debt fell by $US235m to $US2.65bn during the period. while its gearing eased from 29.3 per cent to 28.1 per cent. Newcrest has previously indicated that it may resume paying a dividend when its gearing falls to 25 per cent.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MARKETS LLC, CREDIT SUISSE (AUSTRALIA) LIMITED

OZ Minerals reaps the reward of high grades

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 11-Feb-16

OZ Minerals has posted a 2015 net profit of $A130.2m, compared with $A48.5m for the previous calendar year. CEO Andrew Cole is upbeat about the group’s outlook for 2016, forecasting an increase in production of both gold and copper. He is confident that OZ Minerals will be able to keep paying a dividend while developing the Carrapateena copper project. Shareholders will receive a full-year dividend of $A0.20 per share.

CORPORATES
OZ MINERALS LIMITED – ASX OZL, BELL POTTER SECURITIES LIMITED, CITIGROUP PTY LTD, AUSTRALIAN FEDERAL POLICE, RENAISSANCE MINERALS LIMITED – ASX RNS

Lihir mine in PNG gives Newcrest results boost

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 29-Jan-16

Newcrest Mining achieved total gold production of 1.2 million ounces in the first half of 2015-16, putting it on track to achieve its full-year target of 2.4 to 2.6 million ounces. It boasted all-in sustaining production costs of $US770 an ounce during the half-year. Meanwhile, gold production at the Lihir mine in Papua New Guinea rose by 26 per cent during the December 2015 quarter. Newcrest shares rose by $A0.36 to $A13.88 on 28 January 2016.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, HARMONY GOLD MINING COMPANY LIMITED

Newcrest unscathed as NSW mine reopens

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Original article by Peter Ker
The Australian Financial Review – Page: 16 : 24-Nov-15

Australian-listed Newcrest Mining has advised that problems with a mill at its Cadia gold mine in New South Wales have been resolved. The mill has resumed production after a 35-day shutdown and has returned to full capacity. Output in the September 2015 quarter had been affected by the shutdown, but Newcrest still expects to achieve its 2015-16 full-year production guidance of 2.4 million to 2.6 million ounces of gold.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SHAW AND PARTNERS LIMITED, CITIGROUP PTY LTD

Gold is ‘saving grace’ of miner mid-tier ranks

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Original article by Tess Ingram
The Australian Financial Review – Page: 29 : 10-Nov-15

A report from PricewaterhouseCoopers shows that the combined market capitalisation of Australia’s 50 largest mid-tier mining companies fell by 1.5 per cent in 2014-15, to $A36.2bn. The "Aussie Mine" report also notes that gold producers accounted for 38 per cent of mid-tier companies’ market capitalisation, following strong growth in revenue. The downturn in the price of coal and iron ore had a significant impact on the revenue and market capitalisation of mid-tier companies in these sectors.

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

S2 Resources a rare ASX debut

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Original article by Tess Ingram
The Australian Financial Review – Page: 35 : 20-Oct-15

Shares in S2 Resources closed at $A0.175 on debut after listing at $A0.22 on 19 October 2015. S2 is just the third mining company to list on the Australian sharemarket so far in 2015. It holds assets that were previously owned by Sirius Resources, which recently merged with Independence Group. S2 MD Mark Bennett and some analysts expect further heavy trading in the group’s shares to continue in the short-term.

CORPORATES
S2 RESOURCES LIMITED – ASX S2R, INDEPENDENCE GROUP NL – ASX IGO, SIRIUS RESOURCES NL, SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, BELL POTTER SECURITIES LIMITED, DEUTSCHE BANK AG

Gold stocks take off after gloomy report on US jobs

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 31 : 6-Oct-15

Data showing that a lower-than-expected 142,000 jobs were created in the US during September 2015 has prompted a rally in the spot price of gold. It rose by 2.2 per cent to $US1,136 per ounce on 2 October, and in turn bolstered support for Australian-listed gold producers. Northern Star Resources rose by 5.9 per cent to a record $A2.85 on 5 October, while Newcrest Mining was 9.5 per cent higher at $A13.80. The jobs data has dampened expectations of a US interest rate rise in the near-term.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN, BEADELL RESOURCES LIMITED – ASX BDR, UNITED STATES. FEDERAL RESERVE BOARD, RBC CAPITAL MARKETS, IG MARKETS LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES GOLD INDEX, BANK OF JAPAN, EUROPEAN CENTRAL BANK, SUMITOMO GLOBAL RESEARCH