After the phenomenal runs witnessed last week, price correction of gold and silver kicked in. Both precious metals had similar price patterns this week- starting on a high note and falling midweek before getting on an upward trajectory as the week came to an end. Some experts labelled the correction ‘overdue’ pointing that the gold
Firefly ‘on the fly’ : Firefly Resources Review (ASX: FFR) [Aug 2020]
Firefly (the ‘Company’), although highly speculative, has the potential to quickly create shareholder wealth given the potential economic upside of the mining tenements acquired, using the proceeds of a recent $2.3M equity raising. These funds will be applied principally to the Yalgoo Gold Project (the ‘Project’) and general working capital. The funds are likely to
Week In Review: Gold & Silver manage new highs [3rd to 7th Aug 2020]
Although gold and silver soared last week, with gold to a record new high, they both declined as the week came to an end. Gold surpassed the $2000 USD ($2794.08 AUD) price last week, and set new records for Gold in both USD and AUD. Silver prices, which have been proven to rise tremendously in
WestGold Resources Limited [August 2020 Review]
WestGold Resources Limited (‘WGX’, ‘the company’ or ‘WestGold’) is a top-10 Australian gold explorer and producer with three operating gold mines in Western Australia and has the foundations in place to establish itself as a major player in the Australian Gold Sector. The company’s gold inventory comprises more than 9 million oz and annual production
Volt Project Taking Shape [ASX:VRC]
Volt Resources (‘VRC’ or ‘Volt’)) is moving toward financial close on a project that has the potential to be developed into a medium scale gold mine in the short term, putting Volt on the radar screen for astute investors looking for undervalued emerging gold producers in the micro-cap space. The project, known as the Luiri
RED 5 Limited – Australian Gold Producer (July 2020 Review)
Red 5 is an emerging gold producer with some challenges ahead, but at the same time has two gold mines in one of the world’s most attractive gold regions. King of the Hills (‘KOTH’) and Darlot. KOTH is an underground gold mine bought from Saracen Minerals in 2017. Early drilling results indicated that the site
Ramelius Resources (RMS) July 2020 Review
“Mighty oaks from little acorns grow”: although these words were first spoken in 1374, they ring true today, especially in the case of WA gold producer, Ramelius Resources. Ramelius Resources, a $3M IPO in 2003, began drilling for gold in a 13500 oz ‘starter pit’ called Wattle Dam in 2006, located approximately 70km south of Kalogoorlie. Gold
What’s the problem at Newmont?
Newmont is the world’s largest gold miner with reserves estimated by the company at approximately 100 million ounces, with 25000 employees worldwide in 5 countries, including Australia. Next year will see it celebrate 100 years as a gold miner. It’s a financial behemoth with $3.7 billion in cash at March 31 of which $0.94 billion
Small Cap Watch: MANUKA RESOURCES
Australia’s newest gold producer, Manuka Resources (MKR), will commence trading on the ASX on 14 July after raising $7M (35m shares @ 20c) in an IPO that was 100% oversubscribed. Post the raising 249m shares will be on issue, implying a market cap of almost $50M with consolidated debts of $24.66M. The 249m shares on
Review: Fortescue Metals (19/20FY)
Fortescue Metals is a single bet on China. And this is one bet that is now paying dividends! Fortescue currently produces one product – iron ore; exports to one country – China; operates entirely from one area – the Pilbara; exports through one port – Port Headland; and is driven by one man – Twiggy
