The Australian share market has shaken off a weak lead from Wall Street to rise early as government prepares to announce further economic support measures for businesses amid the COVID-19 pandemic.
Australian shares have achieved back-to-back gains for the first time since the coronavirus crisis began, rallying in the final minutes of trade on reports that US politicians have reached a deal on a massive US stimulus deal to shore up the world's biggest economy.
Northern Star Resources said it was on track to meet production guidance of around 1 million ounces of gold this year, helped by its recent acquisition of a 50 per cent stake in the Kalgoorlie Super Pit and strong performance across its Australian operations, but also disclosed today an increase in its operating costs.
The federal government has announced a $50 million emergency fund to address the loss of wildlife during the nation's bushfire season, as more Australian businesses have pledged millions in combined donations.
Mining & Process Solutions has won the top prize at this year's Innovator of the Year awards, with an environmentally friendly, cost-efficient new process for the mining industry.
Evolution Mining has agreed to spend $18 million on exploration over the next five years on West Perth-based Musgrave Minerals' Cue gold project in the Murchison region.
The gold price touched an all-time high today in Australian dollar terms, sending the shares of many of the country's gold miners surging, led by Resolute Mining and Northern Star Resources.
The Australian dollar gold price has passed $2,000 an ounce for the first time, according to The Perth Mint, with five WA-linked goldminers putting on a combined $1.3 billion of value in today's trading.
Evolution Mining has purchased a 19.9 per cent stake in Tribune Resources, which holds a major interest in the East Kundana project operated by Northern Star Resources.
Gold miners with Western Australian operations are providing a strong return to investors, making up 35 per cent of the top 20 performing stocks in the S&P/ASX 200 for the past three months.
A host of WA gold miners including Evolution Mining, Saracen Mineral Holdings and Regis Resources registered strong gains today, as the broader market suffered its second worst day of the year.
Ian Murray has been appointed non-executive chairman of gold producer Gascoyne Resources, two months after announcing his retirement from Gold Road Resources.
Evolution Mining has lifted full-year profit 21 per cent to $263.4 million, helped by the sale of its Edna May gold mine in Western Australia for $90 million.
Graphex Mining is pleased to advise that it has received subscriptions to purchase 8,750,000 fully paid ordinary shares at $0.28 cents per share to raise $2.45 million through a placement to profes
Black Mountain Resources Limited is pleased to update shareholders on the following restructure initiatives that have been agreed to by the Company and its major lender, Richmond Partners Masters L
Gold producers Newcrest Mining and Evolution Mining reported lower profits for the first half of the financial year, with Newcrest also disclosing the Telfer mine had a negative cash flow of $9 million for the period.
Wesfarmers, Woodside Petroleum and South32 were among Australian shares that closed lower in the wake of another overnight collapse on Wall Street but local losses were relatively contained as many Asian markets tumbled steeply.
Gold miners Perseus Mining, Ramelius Resources and Evolution Mining have all released positive quarterly reports today, with Ramelius upgrading its full-year guidance and Evolution confident of reaching its target comfortably.
Gold-focused Evolution Mining has lifted production and cut costs in the September quarter, helped by a strong performance at its Cowal mine in NSW and Ernest Henry and Mt Carlton mines in Queensland, coupled with the sale of its Edna May mine in Western Australia.
Ramelius Resources is set to become a 200,000 ounces per annum gold producer after acquiring Evolution Mining's Edna May operation near Merredin for up to $90 million in cash and shares.
Gold miner Evolution has confirmed the receipt of several offers for its Edna May gold mine in Western Australia, and is determining whether a sale will be in the best interest of shareholders.
A new gold exploration company led by former Doray Minerals boss Allan Kelly and backed by Evolution Mining has announced plans to list on the ASX, whilst two other junior miners have joined the bourse after completing backdoor listings.
The top Western Australian company in this year's Energise accelerator program is developing an ambitious plan for robotic on-site manufacturing of equipment it believes will boost safety and dramatically cut costs at open pit mines.
Fortescue Metals Group has risen into the ranks of the top 50 most valuable companies on the Australian share market thanks to soaring iron ore prices which have nearly quadrupled the miner's half-year profit and stoked investor demand.
Gold miners operating in Western Australia performed solidly in the three months to December, with Northern Star Resources, Independence Group and Evolution Mining all posting strong results.
