GOLD MINES AND MINING – WESTERN AUSTRALIA

Pilbara minnows tank on Novo no-go

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Original article by Paul Garvey
The Australian – Page: 28 : 28-Nov-17

Shares in companies targeting the Pilbara region of Western Australia for gold performed badly on 27 November. This followed an announcement by Canadian-based resources firm Novo Resources that the results of attempts to test conglomerate deposits at its Purdy’s Well tenement with a specialist drill rig had been "disappointing". Shares in its joint-venture partner Artemis Resources fell by 19.7 per cent, while Impact Minerals, De Grey Mining, Kairos Minerals and Marindi Metals all dropped by at least 20 per cent.

CORPORATES
NOVO RESOURCES CORPORATION, ARTEMIS RESOURCES LIMITED – ASX ARV, IMPACT MINERALS LIMITED – ASX IPT, DE GREY MINING LIMITED – ASX DEG, KAIROS MINERALS LIMITED – ASX KAI, MARINDI METALS LIMITED -ASX MZN

A Pilbara gold rush guide

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Original article by Tim Boreham
The Australian – Page: Online : 7-Nov-17

Upwards of 20 ASX-listed companies are looking for gold in the Pilbara region of Western Australia. They are being buoyed by comparisons being made between the discoveries made to date there and the Witwatersrand formation in South Africa; the latter region has produced half the world’s gold to date. Some of the more prominent companies involved in the "Pilbara gold rush" include Artermis Resources, De Grey Mining and Calidus Resources. The last named company’s activities in the region include the exploration of two leases held by Haoma Mining, with an option to acquire them.

CORPORATES
ASX LIMITED – ASX ASX,ARTEMIS RESOURCES LIMITED – ASX AYL,DE GREY MINING LIMITED – ASX DEG,CALIDUS RESOURCES LIMITED – ASX CAI,HAOMA MINING NL – ASX HAO,ROY MORGAN RESEARCH LIMITED,NOVO RESOURCES,KIRKLAND,KALAMAZOO RESOURCES LIMITED – ASX KZR,KAIROS MINERALS LIMITED – ASX KAI,CHALICE GOLD MINES LIMITED – ASX CHN,DGO GOLD LIMITED – ASX DGO,MARINDI METALS LIMITED – ASX MZN,SOUTHERN HEMISPHERE MINING LIMITED – ASX SUH,SPROTT GLOBAL RESOURCE INVESTMENTS LIMITED,IMPACT MINERALS LIMITED – ASX IPT

Haoma Mining NL requested trading halt because ASX would not release details on Haoma’s recovering ‘flat – watermelon seed-like’ nuggets from conglomerates at the Comet Mine near Marble Bar

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Original article by
Australian Stock Exchange Announcements – Page: Online : 17-Oct-17

On 11 October 2017, Haoma Mining commenced surface sampling of Fortescue Group type rocks at four locations at Bamboo Creek and three locations at the Comet Mine near Marble Bar. Bulk samples of approximately 50kg were collected from the above seven conglomerate outcrop locations. Those samples are now being processed and analysed at Haoma’s Bamboo Creek laboratory. "Flat" gold nuggets and "fine" gold were collected from the conglomerate outcrop "C2" located to the South West of the Comet Mine near Marble Bar. Other gold nuggets were also collected from "C3", located to the North West of the Comet Mine. At location "C2" a significant number of "flat" gold nuggets were collected over a 150 metre section of the strike zone, which is approximately three kilometres long. The nuggets were collected just below the surface of the conglomerate outcrop (about 30 meters wide) which continues to the South West of the Comet Mine. View Full Haoma ASX Release here.

CORPORATES
HAOMA MINING NL – ASX HAO

Nahan buries ALP’s $400m gold grab

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Original article by Andrew Burrell
The Australian – Page: 5 : 11-Oct-17

Western Australia’s Opposition Leader Mike Nahan says the State Government’s proposed increased in the gold royalty was aimed at funding its election promises rather than budget repair. The 50 per cent royalty increase faces defeat in the upper house after Liberal Party MP voted to block the bill, which had already been rejected by the National Party and crossbenchers. The mining industry had also opposed the royalty increase, warning that it would result in widespread job losses.

CORPORATES
LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, ONE NATION PARTY, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, NEWCREST MINING LIMITED – ASX NCM, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE

Gold royalty hike would ‘wipe profits’

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Original article by Tess Ingram
The Australian Financial Review – Page: 17 & 22 : 5-Oct-17

Newcrest Mining CEO Sandeep Biwas says the Western Australian Government’s proposed increase in the gold royalty has already affected the state’s reputation as an investment destination. He says companies such as Newcrest may opt to redirect investment elsewhere if the royalty hike makes their WA operations uneconomic. Northern Star Resources chairman Bill Beament, Gold Fields CEO Nick Holland and AngloGold Ashanti Australia executive Mike Erickson have expressed similar concerns.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, NORTHERN STAR RESOURCES LIMITED – ASX NST, GOLD FIELDS LIMITED, ANGLOGOLD ASHANTI LIMITED – ASX AGG, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF WESTERN AUSTRALIA

Libs may back gold royalty rise

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Original article by Andrew Burrell
The Australian – Page: 17 & 20 : 4-Oct-17

The Western Australian Government will require the Liberal Party’s support to increase the gold royalty from 2.5 per cent to 3.75 per cent. Opposition Leader Mike Nahan says the gold industry will need to present a strong case to persuade him to reject the royalty hike. He adds that the Liberal Party would be reluctant to block a money bill. Newcrest Mining CEO Sandeep Biswas is among the industry executives to have lobbied both major political parties.

CORPORATES
LIBERAL PARTY OF WESTERN AUSTRALIA, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, NEWCREST MINING LIMITED – ASX NCM, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED

Gold royalty rise to cost 3000 jobs: lobby

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Original article by Andrew Burrell
The Australian – Page: 6 : 3-Oct-17

Economic modelling by the Chamber of Minerals & Energy of Western Australia highlights the potential impact of the State Government’s proposal to increase the gold royalty from 2.5 per cent to 3.75 per cent. The modelling, which is based on 27 gold mines, suggests that the royalty hike would reduce the gold sector’s cash flow by about $A125m a year and cost up to 3,000 jobs. Saracen Mineral Holdings Raleigh Finlayson notes that a further 2,000 direct jobs would be lost if the gold price fell to $A1,400 per tonne.

CORPORATES
THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, MACQUARIE RESEARCH EQUITIES, SILVER LAKE RESOURCES LIMITED – ASX SLR, BLACKHAM RESOURCES LIMITED – ASX BLK, WESTGOLD RESOURCES LIMITED – ASX WGX

Tax hike widens split over Kalgoorlie Super-Pit value

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Original article by Danielle Bochove
The Australian Financial Review – Page: 18 : 27-Sep-17

Newmont Mining CEO Gary Goldberg has warned that an increase in Western Australia’s gold royalty would reduce the value of the Super Pit gold mine. Lack of consensus over the valuation of the mine has stalled negotiations for Newmont to buy Barrick Gold’s 50 per cent stake in the mine. Barrick president Kelvin Dushnisky says his company is willing to sell its stake at the right price. Newmont estimates that the royalty increase could increase its operating costs by about $US15m a year.

CORPORATES
NEWMONT MINING CORPORATION, BARRICK GOLD CORPORATION, NEWCREST MINING LIMITED – ASX NCM, GOLD FIELDS LIMITED, SHANDONG TYAN HOME COMPANY LIMITED, DENVER GOLD FORUM

Gold industry rallies against WA royalty hike

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 19-Sep-17

The Chamber of Minerals & Energy of Western Australia has launched a "grassroots" campaign against the State Government’s proposed increase in the gold royalty rate. Social media will be the initial focus of the campaign, although the CME has not ruled out extending it to include radio advertising. As part of the campaign, about 1,500 employers of gold mining companies have held a rally in Kalgoorlie. Meanwhile, Treasurer Ben Wyatt has downplayed the gold industry’s concerns about the potential impact of the royalty increase on the sector.

CORPORATES
THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWMONT MINING CORPORATION, NEWCREST MINING LIMITED – ASX NCM, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, GOLD FIELDS LIMITED, ANGLOGOLD ASHANTI LIMITED – ASX AGG, SILVER LAKE RESOURCES LIMITED – ASX SLR, AUSDRILL LIMITED – ASX ASL, MACMAHON HOLDINGS LIMITED – ASX MAH, DDH1 DRILLING PTY LTD, BYRNECUT AUSTRALIA PTY LTD, ASSOCIATION OF MINING AND EXPLORATION COMPANIES, LIBERAL PARTY OF WESTERN AUSTRALIA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY

Evolution offloads Edna May mine to Ramelius for $90m

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 19-Sep-17

Evolution Mining has secured a deal to sell its Edna May gold mine to Ramelius Resources for $A90m. Evolution will receive an upfront payment of $A40m for the mine, while the deal also comprises an additional cash or scrip component and royalty payments. Ramelius MD Mark Zeptner says the company will consider expanding Edna May via either underground or open pit mining. The royalty payments will depend on which option Ramelius chooses, and these payments will not begin until production exceeds 200,000 ounces.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, RAMELIUS RESOURCES LIMITED – ASX RMS, RBC CAPITAL MARKETS