Gold miner Doray Minerals is hoping for a market re-rating after announcing a scrip takeover of Mutiny Gold today, but its goal of becoming a two-mine mid-tier producer failed to impress the market.
Gold explorer and developer Doray Minerals will take an earnings hit of between $40 million and $50 million due to a fall in the Australian dollar gold price.
Perth-based gold miner Doray Minerals has agreed to purchase a majority interest in Archean Star Resources' Gnaweeda gold project in the Murchison region of Western Australia.
Doray Minerals' founding directors Allan Kelly and Heath Hellewell have won the Association of Mining and Exploration Companies' prospector of the year award for 2014.
Doray Minerals has posted a maiden half-year profit on the back of the commencement of production at its Andy Well gold project in the Murchison region.
Gold miner Doray Minerals plans to accelerate drill testing of near-mine exploration targets at its Andy Well gold project in the Murchison region following a $17 million capital raising.
Doray Minerals has officially opened its Andy Well gold project in the northern Murchison region, at a ceremony hosted by mines and petroleum minister Bill Marmion.
North Perth-based Doray Minerals says it expects to list on the local bourse this month after it raised more than $4.6 million in its initial public offer.
