Diggers and Dealers Mining Forum 2018 will welcome a pack of gold plays to the stage this week to speak about their companies and the precious metal. Here’s who’s going.
AngloGold Ashanti Ltd (NYSE:AU) (JSE:ANG) (ASX:AGG) Australia senior vice-president Michael Erickson will deliver the first company presentation on Monday morning during a session due to start at 10.45am.
READ: ABC Bullion global manager predicts upcoming gold price movements ahead of Diggers and Dealers Mining Forum
AngloGold finished commissioning for its Recovery Enhancement Project at Sunrise Dam Gold Mine on time in June.
Speaking on the development in July, Erickson said: “With a combination of innovation, strict capital discipline and incremental investment, we will see a significant step up in production and a reduction in our all-in-sustaining costs over time.”
“We are on an exciting improvement pathway at Sunrise Dam Gold Mine which will enable us to optimise the development of the world-class ore body and achieve sustainable cash margins over the life of mine.”
Sunrise Dam in Western Australia is about 200 kilometres from where Diggers takes place in Kalgoorlie-Boulder.
AngloGold is experiencing leadership change at the top level, with outgoing chief executive Srinivasan ‘Venkat’ Venkatakrishnan due to finish at the end of the month.
Venkatakrishnan will be replaced by current Barrick Gold Corporation president Kelvin Dushnisky.
Dushnisky will start on September 1 and will also sit on the tri-listed company’s board as an executive director.
Monday gold plays
Erickson’s company opener will be followed by a number of presentations from fellow gold plays later that day.
The company is focused on two Western Australian projects - Carosue Dam and Thunderbox.
Saracen’s ore reserve was sitting at 2.5 million gold ounces on June 30, up 20% from 2.1 million gold ounces on June 30, 2017, despite depleting 348,000 gold ounces during last financial year.
Finlayson told the market last Wednesday the company was drilling and confident it would become a 400,000 ounce a year gold producer with a long mine life.
The company has been receiving strong polymetallic results, including up to 9.02% copper, from infill drilling at its Gilgunnia project, 100 kilometres south of Cobar in western New South Wales.
The company’s 4,581-metre reverse circulation (RC) and diamond drilling program is focused on the Mallee Bull ‘Cobar-style’ polymetallic discovery.
Regis Resources Limited (ASX:RRL) (FRA:RKQ) (OTCMKTS:RGRNF) executive chairman Mark Clark will deliver a presentation at 3.45pm.
On Friday the company revealed its board had approved an underground development at Rosemont Gold Mine.
The mine will sit below its Western Australian open pit operation north of Laverton, with the company expecting to start developing its new portal in the March 2019 financial quarter.
Northern Star Resources Ltd (ASX:NST) (FRA:NS7) (OTCMKTS:NESRF) chief executive officer Stuart Tonkin will end gold proceedings for the day at 4.35pm before copper company Sandfire Resources closes and The Clarke Energy Cocktail Party gets underway in the sponsors marquee.
Tonkin recently fronted WA Mining Club in June, telling a crowd of 500 that gold exploration would be the key to maintaining current production levels.
The company released updated production guidance this week, tipping it would produce between 600,000 and 640,000 ounces this financial year.
Tuesday gold plays
West African Resources Ltd managing director Richard Hyde will kick off Tuesday’s proceedings with an 8.35am presentation.
The company’s updated feasibility study for its Sanbrado Gold Project in Burkina Faso has planned out an 11-year mine life including 4.5 years of underground mining, with average annual production of 211,000 ounces over the first five years.
Hyde told the market in June the updated study confirmed the robustness of the project and forecast a capital payback of only 16 months.
West African Resources reported the high-margin project was capable of producing more than 200,000 ounces a year.
Probable reserves at the Burkina Faso project have been increased 76% to 1.574 million ounces.
The company recently unveiled strong financial results, writing a US$89.1 million June half-year net profit after tax, a 45% half-on-half increase on the June 2017 half.
OceanaGold increased its quarter-on-quarter cash balance 45% to $128.9 million and declared a US2 cent semi-annual dividend for each common share.
Gascoyne Resources Ltd (ASX: GCY) Mike Dunbar managing director will follow Whipperman at 11.10am.
The company received high-grade results of up to 27.2 g/t come from a recently completed 55-hole reverse circulation (RC) drilling program at its Glenburgh project in Western Australia.
Gascoyne Resources hopes the results will help it boost its 1 million ounce gold resource at the Gascoyne region project.
Resolute Mining Limited (ASX:RSG) (FRA:RSM) (OTCMKTS:RMGGF) managing director and CEO John Welborn will present at noon in one of two sessions before lunch.
The company secured a US$10 million revolving loan facility from Investec last month and completed investments in three gold juniors.
The company recently completed its final cost estimate for the Gruyere Gold Project and is fully funded as it gets ready for first gold at the project.
Gold miner Evolution operates five wholly-owned mines in Australia – Cowal in New South Wales; Mt Carlton, Mt Rawdon and Cracow in Queensland; and Mungari in Western Australia.
Evolution produced 801,187 ounces of gold last financial year at an all-in sustaining cost of $797 an ounce.
Wednesday’s gold plays
The company raised $40 million in an oversubscribed placement last month and started a second underground decline at its Mt Morgans operation in Western Australia.
Pantoro Limited (ASX:PNR) (FRA:RKN) managing director Paul Cmrlec will follow on Wednesday action with an 8.55am address.
The company revealed last Thursday it had upped gold reserves by 20% at its Nicolsons Gold Project in Western Australia.
It also tipped it was set to deliver a production growth target of 80,000 to 100,000 ounces a year.
St Barbara Ltd (ASX:SBM) (FRA:BM1) (OTCMKTS:STBMF) (OTCMKTS:STBMY) managing director and CEO Bob Vassie will then speak at 9.20am.
The company presented its June quarterly report in a recorded webcast on July 26.
St Barbara had a record 119,436 ounces quarter, with all-in sustaining costs of $812 an ounce.
It ended the period with $344 million cash and no debt.
Westgold Resources Limited (ASX:WGX) (FRA:0W2) managing director Peter Cook will deliver the second presentation at 12.45pm after lunch.
The group’s Big Bell site neared closer to production last financial quarter, with first ore expected by the end of calendar year.
Ramelius Resources Limited (ASX:RMS) (FRA:RRZ) (OTCMKTS:RMLRF) managing director Mark Zeptner will then close up gold for the mining forum at 3.10pm.
The Ramelius wrap will be the second last company presentation before forum chairman Nick Giorgetta delivers his closing comments and revellers kick on at the The WesTrac Gala Dinner in the sponsors marquee.
Ramelius boosted cash and gold reserves by $20 million in the June quarter.
To view this year’s Diggers program, visit http://diggersndealers.com.au/#programme.