Vault Minerals plans to buy back up to 10 per cent of its shares on issue over the coming 12 months, as it prepares to farewell long-serving executive Luke Tonkin from his management role.
Analysis: Record margins and bustling cash and bullion balances have Western Australia's goldminers up and about, but labour pressures and inflation are appearing on the radar.
A bonanza gold price has not dampened the appetite for discussion around mergers and acquisitions in the current market, with some more willing to comment than others.
Defence and gold drove the growth in value of Western Australia's listed companies last financial year, fueled geopolitical uncertainty and economic instability.
GR Engineering has notched a $79 million contract variation to significantly bolster its work on a plant upgrade at Vault Mineral's goldmining operations near Leonora.
A new record Australian dollar gold price greeted local producers this morning, as companies including Vault Minerals and Ramelius Resources outlined their growth ambitions.
Vault Minerals will spend $80 million to expand the processing facility at its King of the Hills mine near Leonora by 20 per cent, to more than 6 million tonnes of ore per annum.
The number of women running ASX300 companies has stagnated in the past year with a survey also showing multiple WA companies have no women in their executive leadership group.
Junior explorer Asra Minerals has sold its Tarmoola pastoral lease to goldmining mid-tier Red 5, in a move designed to support its upcoming drilling and exploration campaigns.
Pilbara gold developer De Grey has refused to comment around speculation that it could be the target of rival interest, saying it is focused on developing its Hemi project.
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.
Two WA gold companies have had a notable win over the state's Valuer-General after the Supreme Court criticised the way in which mining leases have been valued.
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.
Newly installed Red 5 boss Luke Tonkin and Spartan Resources counterpart Simon Lawson have both elected to sell off shares, amid a busy month for their respective companies.
Rising gold producer Red 5 has finalised changes to its board and management team, following its successful merger with Silver Lake Resources earlier this month.
The merger between mid-tier gold miners Silver Lake Resources and Red 5 is officially finalised, following news the scheme of arrangement between both companies is now legally effective.
Australian gold production fell nine per cent in The March quarter, weighed down by the impacts of severe storms which hampered output in Western Australia and other gold mining regions.
Gold producers Silver Lake Resources and Red 5 Resources have continued to deliver ahead of their likely merger in June, with both mid-tier companies performing strongly throughout the March 2024 quarter.
Revenue at goldminer Red 5 increased by 77 per cent in the first six months to December 31 2023 as the listed company moves closer towards its proposed merger with Silver Lake Resources.
Gold producer Silver Lake Resources recorded solid gains during the first half of the 2024 financial year, amid its planned merger with fellow mid-tier entity Red 5.
Mid-tier gold producers Silver Lake Resources and Red 5 have announced their intention to merge, with a combined entity to have a market cap of about $2.2 billion.
Critical minerals company Terrain Minerals has unveiled high-grade gold hits of up to 6.22g/t from drilling at its 100 per cent-owned Smokebush project at Yalgoo, some 350km north of Perth in Western Australia. The high-grade assays were returned from recent reverse-circulation drilling at the company's new Lightning target – a highly-prospective area that runs parallel with its existing Monza prospect.
UPDATE: Silver Lake Resources has confirmed itself as the buyer of a substantial slice in Leonora gold miner Red 5, labelling the move as a 'strategic investment'.
Our board moves wrap includes Andrew Kent, Chris Ellison, Joshua Thurlow, David Flanagan, James Croser, Michael Spreadborough, Cameron Dowling, Amanda van Dyke, Michael Bourguignon, Loren King, Colin Loosemore, Steven Tombs, and Paul Harvey.
Our weekly appointments wrap includes David Coyne, Lisa Wynne, Jérôme Pécresse, Neil Brodie, Benjamin Carruthers, Ash Colmer, Fiona Payne, Trent Barlett, Stephen Butcher, Rosemarie Myers, Clare Cullen and Paul Lyons.
