Newcrest Mining Limited
Newcrest Mining Limited
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Burkina Faso-focused gold miner Roxgold has expanded its production horizons with the completion of its potential $US30M acquisition of Newcrest Mining’s 430,000oz inferred Séguéla Gold Project and 11 surrounding exploration permits covering 3,298km2 in Côte d'Ivoire.
The 1st part of the deal is an upfront $20M to secure the project, which includes the 430,000oz inferred Antenna deposit within 5.8Mt at 2.3g/t Au. An initial 28,000m RC and diamond drilling program is scheduled to begin next week.
Australian explorer Antipa Minerals has raised $A5.1M to accelerate regional exploration of WA’s exciting Paterson Province through the placement of 268.8M shares at $0.019ps that has attracted a number of new domestic and international investors.
Antipa says the issue, at a 20.8% discount to its last close, was also well supported by major shareholders.
Newcrest Mining is targeting high-grade ore feed for its Telfer gold mine through an exploration farm-in agreement over the Havieron tenement in Western Australia’s Paterson province held by explorer Greatland Gold.
The Paterson province has come under intense exploration interest for its copper-gold potential, including large-scale discoveries by Rio Tinto.
Australian gold major Newcrest is making a “measured entry” into North America with agreement to acquire a 70% stake in the Red Chris copper-gold porphyry openpit mine in British Columbia from Canada’s Imperial Metals for $US806.5M.
MD Sandeep Biswas says Newcrest is confident it can apply its experience with the geologically similar Cadia operation in NSW to unlock significant value from Red Chris’s 20Moz gold and 13Blb copper resources.
Australian gold production hit a record 317t for CY18, breaking the record set 21-years ago, with near future output looking good, Surbiton report
Canada’s Barrick Gold has confirmed it has considered making an all-stock bid for US rival Newmont Mining, a deal that would create a monolith in the global gold sector and likely push smaller peers to start buying each other, Reuters reports.
Barrick, already the world’s largest gold miner, says its contemplated proposal did not offer any premium to Newmont’s shareholders and that no decision had been taken so far. Newmont says it’s aware of Barrick’s statement, but would not comment.
Barrick Gold, the world’s biggest gold miner, has considered a $19B takeover bid for Newmont Mining, which has made a $10B bid for Goldcorp
Lundin Gold has done an up to $C46.57M underwritten raising deal primarily to bring on its wholly-owned Fruta del Norte Gold Project in SE Ecuador expected to start production by end-2019.
The bought deal agreement with GMP Securities and BMO Capital Markets is for the purchase of 7.5M shares at $5.40ps, with the option for another 1.12M shares on the same basis.
Higher gold production primarily from its Cadia operations in NSW and record low group operating costs have helped Australian gold No 1 Newcrest post a 142% increase in statutory profit to $US237M for the Dec half (H1FY19), up from $98M in the corresponding period.
H1 production rose to 1.203Moz (H1FY18: 1.135Moz) gold and 51,770t (39,002t) copper at AISC of $747/oz ($860/oz).
US gold miner Newmont Mining’s current mutually agreed $US10B all-share takeover bid for Canada’s Goldcorp has given Goldcorp a non-cash impairment expense of $US4.8B ($3.9B net of tax) in Q4 18 to deal with in its Dec 2018 year (FY/CY18).