Ramelius Resources boss Mark Zeptner says he has moved on from the Westgold-Karora takeover saga but remains unhappy with the way the Takeovers Panel handled the situation.
The combined value of Western Australia's listed companies fell to $349.7 billion last financial year, propped up by the resurgent performance of the state's gold sector.
Meeka Metals has appointed top-gun mine site executive Matthew O'Hara to lead the construction phase for its 100 per cent-owned flagship Murchison gold project in Western Australia's Mid West region. The company has today confirmed that funding is imminent, site environmental permits have been secured and a bigger-than-planned ball mill will be delivered by September, bringing the project another step closer to production.
Newly merged Westgold Resources and Karora Resources have lauded the timing of their deal to create a consolidated gold miner, after tying a ribbon on their transaction today.
Ramelius Resources hopes to continue the momentum of a record year for gold production but has opted against a $300 million investment to prolong the life of its Edna May goldmine.
Kalgoorlie Gold Mining has tabled a maiden resource of 76,400 ounces at 1 gram per tonne gold from its Kirgella Gift and Providence deposits at its new flagship Pinjin project, 140km north-east of Kalgoorlie in Western Australia. Management wrapped up its initial resource at Pinjin in little more than 12 months after securing the ground along the prospective Laverton Tectonic Zone in May last year.
Spartan Resources shares soared 20 per cent off a new mineral resource at its Dalgaranga gold project, weeks after Ramelius Resources unveiled a 17.9 per cent stake in the company.
This week's Bulls N' Bears Runner of the Week is … the ASX itself. The ASX 200 hit an all-time high of 8083.7 points, indicating to investors that there may just be green shoots and blue skies ahead. Small-cap companies that ran hard during a promising week included DGR Global, Labyrinth Resources, Miramar Resources and Stelar Metals.
Westgold has moved a step closer to its merger with Canadian-listed gold play Karora Resources, after its $1.2 billion deal was ticked off by the Foreign Investment Review Board.
Kalgoorlie Gold Mining has extended a prospective gold strike at its Pinjin project in Western Australia to 21km after being granted a new 3.5-square-kilometre parcel of contiguous ground at the site that sits 140km north-east of Kalgoorlie. The ground is centred about 3.75km south along strike from the company's Wessex target and about 8km north along strike from its Kirgella Gift and Providence gold prospects.
Kalgoorlie Gold Mining is planning to kick off an air-core drilling program at its Pinjin project in WA's Eastern Goldfields next month to follow up an April campaign that hit zones running up to 3.07g/t gold. The program will centre on the company's Wessex target at the project that sits on the eastern flanks of the prospective Laverton Tectonic Zone, about 140km north-east of Kalgoorlie.
WA gold merger aspirants Westgold and Karora will amend their $1.2 billion agreement at the direction of the Takeovers Panel, but a standstill clause on rival Ramelius Resources will remain.
Red 5, Ramelius Resources and Regis Resources have each unveiled major milestones ahead of company reporting season, as bumper gold prices drive records.
The value of gold rose 15 per cent in local dollar terms over the first six months of 2024, hitting record levels driven by geopolitical tensions and wavering economic growth indicators.
Mid-tier gold player Ramelius Resources has secured a revolving debt facility worth $175 million from a syndicate of banks, in a move to free up its financial flexibility.
Ramelius Resources has emerged with a strategic 8.9 per cent stake in fellow Murchison gold play Spartan Resources but says it does not currently plan to take over the company.
Westgold Resources has backed its move for Karora Resources, with the pair working towards finalising the deal by the end of July despite a rival's request for Takeovers Panel intervention.
Westgold Resources will enter a strategic alliance with Ora Mining to advance the development of its Crown Prince deposit in the Murchison region, as activity in the region heats up.
Gold miner Ramelius Resources has requested Takeovers Panel intervention in Westgold Resources's move for Karora Resources, revealing an earlier agreement between itself and the acquirer.
Askari Metals has tabled a maiden resource of 1.32 million tonnes running at 1.52 grams per tonne gold at its flagship Burracoppin project in Western Australia's Wheatbelt region, some 20km to the east of Merredin. The defined resource includes mineralised zones across multiple deposits and Askari notes that there is potential for significant resource expansion between the lodes, with additional possible down-dip extension.
Westgold Resources has announced it will merge with Toronto-listed Karora Resources, resulting in a market capitalisation value of approximately $2.2 billion.
Less than a week after confirming it would not pursue a merger with Toronto-listed Karora Resources, gold producer Ramelius Resources has recorded its highest ever quarterly production.
Kalgoorlie Gold Mining says a review of its Kirgella Gift and Providence gold prospects has revealed similarities to Ramelius Resources' 1.4-million-ounce Rebecca project, suggesting shallow open pit potential. The project analogy has led to the modified modelling of potential ore zones to distinguish lower-grade, but important gold envelopes enclosing shallow, high-grade zones, with the goal of adding ounces and enabling simpler bulk mining.
Ramelius Resources has announced it is in exclusive discussions with Toronto Stock Exchange-listed Karora Resources, regarding the possibility of a merger between both companies.
Ramelius Resources' revenue jumped 14 per cent during the first half of the 2024 financial year, ensuring the gold miner generated a record $348.5 million.
Our weekly appointments wrap includes Aidan Flynn, Michael Vermey, Braden Loader, Darren Millman, Ben Ringrose, Brandon Munro, Ronnie Beevor, Gavin Chamberlain and Alison Terry.
Kalgoorlie Gold Mining has grabbed 38.5 square kilometres of highly-prospective new gold ground east of Kalgoorlie in WA – and it sits just 1800m away from shallow gold hits at its Kirgella Gift and Providence targets. The new permit has not been subjected to in-depth historic exploration, but is on a major tectonic feature that also hosts Ramelius Resources' 1.4-million-ounce Rebecca gold project.
Aurum Resources is set to take its gold search to a new continent after signing a binding agreement to acquire PlusOr Global, which holds the rights to earn into the Boundiali gold project in Côte d'Ivoire. The project on the southern coast of West Africa covers two contiguous granted exploration permits within Côte d'Ivoire's prospective Boundiali greenstone belt.
Kalgoorlie Gold Mining has launched an earlier-than-expected RC drill-testing program at its Pinjin project in Western Australia's Laverton Tectonic Zone in a move designed to ramp up its search for shallow, high-grade gold. Pouncing on the chance to get a drill rig this week, the company's program at its Providence deposit has been crafted to follow up last month's gold drill hits.
Our board moves wrap includes Tara Berrie, John Kenny, Brendan Bradley, Stacey Apostolou, Bernard Aylward, Tom Langley, Peter Wall, Patrick Burke, Joc O'Rourke, Ajanth Saverimutto, Tim Manners, Samuel Ekins, Edward Clarke, Darren Palfrey, and Mark Connell.
Ramelius Resources has inched closer to taking over Musgrave Minerals after receiving acceptances of more than 91 per cent to move on a compulsory acquisition.
Aurum Resources is set to launch a maiden 74-hole air-core drilling campaign at its Ryans Find gold project, north-east of Koolyanobbing, after completing trackwork for the rig and a heritage clearance survey. Some 3500m of drilling will be oriented in multiple transects perpendicular to the prospective greenstone belt to follow-up on gold and base metals anomalies observed in soil sampling.
Westgold Resources has exited the takeover contest for Musgrave Minerals after announcing it didn't intend to improve its $177 million merger proposal following Ramelius Resources' offer.
After sidestepping a merger proposal from Westgold Resources, Musgrave Minerals is on board with a competing cash and scrip offer from fellow Murchison resident Ramelius Resources.
