Tag: Gascoyne Resources

Good as gold

Good as gold

INTERNATIONAL instability, a strong Australian gold industry and a weak Australian dollar have sparked a a booming international gold rally, with the price jumping from $1770/oz in mid-April to over $2050/oz in June, surpassing the US$1400/oz mark and smashing the AUD$1900/oz record. According to Perth Mint chief executive Richard Hayes, the destabilising effects of the Trump administration, the Sino-American trade wars and, to some extent Brexit, have led the investment market to the point where gold has re-assumed its historical role as the tangible safe investment. Toward the end of May and the beginning of June, the US made two key announcements that helped to facilitate the precious metal’s rally. The first was that the US Federal Reserve signalled it…

Gascoyne Resources: Ramping Up

Gascoyne Resources: Ramping Up

All images: Gascoyne Resources. BY ELIZABETH FABRI THE lights turned on at Gascoyne Resources’ Dalgaranga project earlier this year; now, the miner’s focus is on achieving commercial production and continued exploration to extend mine life. It’s been two months since first gold was poured at Gascoyne Resources’ $100 million Dalgaranga project in the Murchinson region, WA. Bringing any new project into production is a milestone, but for Gascoyne Resources, this represented something bigger. First gold marked the beginning of the company’s transition from explorer to a producer among the ranks of ASX-listed gold miners. Gascoyne Resources managing director Mike Dunbar said to say that he was pleased “would be a massive understatement”. “The company has managed to put together a…

Gascoyne Resources: Building momentum

Gascoyne Resources: Building momentum

All images: Gascoyne Resources. BY ELIZABETH FABRI WITH construction now underway at its flagship Dalgaranga project, Gascoyne Resources’ time in the sun has arrived as it transitions to gold producer. There is light (and gold) at the end of the tunnel for Gascoyne Resources with first gold slated at its Dalgaranga project in the second quarter of 2018. The Dalgaranga project within the Murchison region WA –formerly operated by a JV between Equigold and Western Reefs – produced 229,000 ounces of gold between 1996 and 2000, with little exploration undertaken at the site since. It wasn’t until 2013 that Gascoyne Resources, recognising the region’s vast potential, purchased an 80 per cent interest in the project. The company’s decision to acquire…

Deloitte sees commodities boost for WA miners

Deloitte sees commodities boost for WA miners

By Cameron Drummond WA companies are prospering off a commodity rebound, with Fortescue Metals Group (FMG), Pilbara Minerals (PLS) and Resolute Mining among a group recording market cap increases. The Deloitte WA Index rose in April with the market capitalisation of WA-listed companies increasing by 9 per cent to $136.2 billion. Deloitte Clients & Markets Partner WA Tim Richards said the index’s performance was boosted by the month’s strong commodity prices. “April’s result, which follows a 5.9 per cent rise in March, was primarily driven by crude oil reaching its highest price in 2016 and iron ore climbing to US$64.50 per tonne at the end of the month,” Mr Richards said. “This spurred on investors, as demonstrated by the market…