After a less than glowing 2014, gold prices are on the move in 2015, up to$A1556.2 from a low of around $A1320 in October of last year. With some good production and exploration success it looks like 2015 should be a bright new year for Australian gold miners.
Northern Star, a Shining Example
Emerging West Australian gold producer and exploration company, Northern Star Resources Ltd has announced they expect their Paulsens Gold Mine in the Ashburton/Pilbara Region, is set to enjoy significant increases in resources and mine-life due to a number of high-grade drilling results.
Latest drilling results at Paulsens have extended the known length of its Voyager 2 lode by 300m, signalling a shift there, from the Voyager 1 lode, will allow Northern Star to benefit from the low costs and high-grades associated with the rich lode.
Managing Director of Northern Star, Bill Beament said the results at Voyager 2 were the most significant achieved at Paulsens since drilling revealed the magnitude of Voyager 1, five years ago.
“It is becoming clear that the Voyager 2 lode emulates Voyager 1 in respect to its grade, the continuity of the mineralisation and the production rates it can sustain,” Mr Beamant said.
He also said “These results are absolutely crucial because they underwrite the future of Paulsens as a high-grade, low-cost gold mine.”
Ramelius’ Blackmans Project a Gold Magnet
Gold producer, Ramelius Resources Limited has announced significant high-grade gold had been intersected at their Blackmans gold project, 30km north of Mt Magnet WA.
Securing the remaining 25% of the Blackmans mining lease, giving them a100% equity, meant they could embark on a new drilling program in December 2014. This resulted in Blackmans being able to extend over at least a 350m strike.
“Following improved performance at the Mt Magnet gold operation in recent quarters, the potential of a new high grade open pit operation is significant for future processing at Mt Magnet. Being located only 30 kilometres north of Mt Magnet means that any future mining operation at Blackmans can simply be run out of Mt Magnet and the gold ore processed at the existing Checkers processing facility,” Ramelius Chief Executive, Mark Zeptner said.
IGO’s Tropicana Figures Cruise Ahead of Guidance
Independence Group’s West Australian gold operation, Tropicana Joint Venture (TJV) has announced production is up on guidance for the second quarter financial year 2015,
With production at 137,544 ounces of gold (100% basis), IGO’s 30% share in the TJV haul is 41,263 ounces (preliminary figures), bringing it to 77,263 ounces (preliminary figures), year to date for the 2015 financial year; clearly above the guidance range of 70,500 to 73,500 ounces (preliminary figures).
IGO’s Managing Director, Peter Bradford said that Tropicana along with its other 2 projects in Western Australia were “… maintaining good and steady production.”
He also went on to say, “We are especially pleased that all the operations are ahead of guidance for the half year on a pro-rata basis, which has resulted in our cash at bank increasing to (around) $93 million at the end of the quarter.”