United Fasteners – Everything you need to keep it together

Gold prices boost Newcrest GOLD producer Newcrest Mining has unveiled an increased underlying profit of $280m for the six-month period ended December 2019, although gold production for the period was 12pc lower compared with the second half of 2018. Higher realised gold prices, and the favourable impact on its Australian operations from a weaker Australian dollar to US dollar exchange rate, contributed to the increased profit for the half year period. In the July-December 2019 period Newcrest produced 1.1moz of gold at an all-in sustaining cost of $880/oz, up from $747/oz for the year ago period. This represents an all-in sustaining cost margin of $566/oz for the December 2019-ended half year, up from $481/oz for the corresponding 2018 period. Newcrest...

Australian resources companies draw $1.15b AUSTRALIAN resources and energy companies attracted $1.15b of investment funding in the October-December 2019 quarter, the highest amount since April-June 2018, according to an analysis by Austex Resource Opportunities. Austex principal consultant Rob Murdoch said the trend for increased investment funding to ASX-listed metals and energy companies had carried over into early 2020. Australian gold, copper and oil and gas companies listed on the ASX all did well in terms of attracting funds, including from small investors in Australia, he said. “The large capital raisings in Q4 2019 are a result of recent exploration success for copper-gold porphyries in the Lachlan Fold belt of NSW and the Paterson province in WA, along with new gold...

Fortescue Metals ships first delivery of high-grade magnetite from Iron Bridge Fortescue Metals (ASX:FMG) has shipped its first delivery of high-grade magnetite to Vietnam from its newly built Iron Bridge operations in WA. Fortescue chief executive Fiona Hick was joined by Nyamal Traditional Custodians and representatives from Fortescue’s Iron Bridge joint venture partner Formosa in Port Hedland as the first shipment was loaded. Ms Hick said today was a special day for Fortescue. “Today is a truly special day for Fortescue. Last week we celebrated 20 years since Fortescue was founded, and today, we celebrate our first shipment of high-grade magnetite product from our most complex and innovative...

Bencubbin in WA emerging as potential significant rare earths discovery Cygnus Metals (ASX: CY5) has found high-grade assays in an area that majors including Rio Tinto (ASX: RIO) and IGO (ASX: IGO) are actively exploring for rare earth elements (REE) in the same area. These are some of the thickest and highest-grade intersections to date at the Bencubbin rare earths project in WA, with grades of up to 7,243ppm TREO from latest drilling with intercepts up to 79m wide. The results came from the company’s...