Struggling gold miners Dacian Gold and Gascoyne Resources have both taken a small step in the right direction, after they announced positive production results today.
Shares in Dacian Gold have rallied to recover some ground from a significant fall last month, as the company released an update to its Mt Morgans mine plan, which noted significant potential to increase its annual production rate.
Pantoro has announced it missed production targets for the June quarter, just a month after fellow local gold producers Dacian Gold and Gascoyne Resources announced adverse news to investors.
Shares in Dacian Gold have plunged up to 68 per cent today after a significant downgrade of June quarter production guidance from its flagship Mt Morgans operation.
Dacian Gold has lowered its full-year production forecast at its Mt Morgans gold project by up to 16 per cent, due to an equipment shortage at the mine.
SPECIAL REPORT: WA's 30 gold miners achieved a small increase in aggregate output last year with the state's biggest producer, Newmont Mining, making up about a sixth of this at 1.1m ounces, research by Business News has found.
Perth-based GR Engineering Services has recorded a slight decline in net profit for the 2018 financial year due to two settlement claims, despite an uptick in the group's revenue.
Three Western Australian gold miners have recently started production at their respective operations, with Dacian Gold's $200 million Mt Morgans project near Laverton pouring its first bar of gold last week.
Shares in remote power provider Zenith Energy were up 7 per cent today as the company announced an unaudited before tax profit of up to $11 million for the first half of the financial year.
Energy and infrastructure contracting group Valmec has secured $30 million in new construction contracts, including a 4 kilometre gas pipeline at Dacian Gold's Mt Morgan project.
The state government has named the 43 successful applicants that will share in about $5 million for exploration drilling programs, with over half of those being gold projects.
Dacian Gold has lined up Zenith Energy to build, own and operate a gas-fired power station at its Mt Morgans gold project near Laverton, and signed a $57 million, 10-year contract with gas pipeline operator APA Group.
Norway-based investment bank Pareto Securities has completed its first major Australian deal, as sole manager of a $US100 million ($A133 million) bond issue announced today by Pilbara Minerals.
SPECIAL REPORT: The value of investment into WA gold projects is about four times as much as this time last year, while growth in spending on lithium has been even more substantial.
Dacian Gold has formally awarded GR Engineering Services a $107.1 million contract to build processing infrastructure at its Mt Morgans gold project near Laverton.
A local subsidiary of South African company Murray & Roberts is set to be awarded an underground mining services contract for Dacian Gold's Mt Morgans project near Laverton.
SPECIAL REPORT: Western Australian stockbrokers and companies raised nearly $1.1 billion in 104 transactions in the March quarter, with gold deals being a major driver of activity, according to new data compiled for the BNiQ Search Engine.
Dacian Gold has reignited plans to undertake a large equity raising, announcing today a $110 million placement and entitlement offer to fund development of its Mt Morgans gold project near Laverton.
Aspiring miner Dacian Gold has started construction of its Mt Morgans project near Laverton, after finalising regulatory approvals and locking in a $150 million funding deal over the Christmas break.
Dacian Gold has again reduced the size of its $50 million placement and put its $100 million entitlement offer on ice, in the wake of the falling gold price which hit a 10-month low overnight.
Aspiring miner Dacian Gold has launched a $150 million capital raising to fund a big portion of the development costs for its Mt Morgans gold project near Laverton, which is expected to begin operating by 2018.
SPECIAL REPORT: A record high Australian dollar price in June has provided a tailwind for the state's gold sector, and 2017 is looking to be a similarly positive year.
Gold and lithium players were the biggest winners in the quarterly S&P/ASX indices rebalance, with Perth-based companies Galaxy Resources and Resolute Mining leading the shift, while contractors and tech firms lost ground.
Local gold and lithium explorer Berkut Minerals has enjoyed steady gains on its first day of trading on the ASX after completing a $3.5 million initial public offering.
IT might not feel like it, but there are early signs of boom conditions forming in some parts of the state's mining industry, with two sectors in particular benefiting from events in the markets for commodities, labour, and capital equipment.
Shares in Rox Resources more than doubled today on the back of a strong zinc and lead drilling result at a project in the Northern Territory, while Dacian Gold was up 7 per cent following results in Western Australia.
Energy giant Woodside Petroleum has bolstered its board with the appointment of a former Shell executive, while Dacian Gold has welcomed a prominent lawyer to its board.
The state government has officially commissioned the $140 million Eastern Goldfields Pipeline, which will support the ongoing development of mining projects in the region and benefit operators of existing mines due to reduced costs
SPECIAL REPORT: One of the few positives in a tough year for business was the gold sector, and at the forefront was Northern Star Resources, under the leadership of Bill Beament.
