Shares in local gold miners have dominated on the ASX today after the spot price for the precious metal jumped by over 2 per cent overnight to $US1,203.30 an ounce
West Perth-based miner Metals X has reported a 332 per cent full-year profit increase to $37.4 million, alongside a 247 per cent surge in revenue to $238.6 million.
Western Australia's gold producers continue to suffer at the hands of a strengthening Australian dollar, with more job losses revealed across the sector last week.
Shares in West Perth-based miner Metals X have closed higher after the company announced it had negotiated a restructured royalty agreement at its Higginsville gold operations.
The value of mergers and acquisitions in the Western Australian gold sector over the past 12 months has reached close to $650 million, analysis by Business News has found.
Saracen Mineral Holdings has purchased the Thunderbox gold project from Norilsk Nickel for $23 million, in a deal which could double the company's production to up to 270,000 ounces per year.
Toronto-based gold miner Alacer Gold has appointed a new chief executive and will place its Australian operations into care and maintenance over the next 18 months, as it continues to seek a buyer
The number of mining industry players taking significant hits to the value of their assets continues to grow, with gold miners Alacer Gold and Silver Lake Resources joining base metals miner Wester
Shares in one of Australia's largest gold companies, Alacer Gold, have shot up after it announced its sale of interests in the Frog's Leg gold mine near Kalgoorlie for US$171 million ( million).
Alacer Gold says it will spend $25 million on the construction of a new mill, the recommencement of open pit operations at three pits, and ongoing feasibility studies as part of the first stage of
