Kaiser pulls $10M cash flow from Tassie gold venture for Q4
The company has significantly boosted revenue since assuming control of its recently purchased Henty gold mine in Tasmania, raking in an impressive $25.177 million for the June quarter.
Kaiser placed its hands firmly on the wheel at Henty on May 15, steering the operation to produce solid results for the balance of the quarter, after nabbing the profitable underground gold mine in western Tasmania from ASX-listed goldie Catalyst Metals.
Management locked-in the transformational acquisition by agreeing to pay Catalyst $15M in cash and $16.6M in shares, handing Catalyst a maximum 19.99 per cent stake in Kaiser.
Kaiser will further pay Catalyst 50 ounces of gold per month capped at 3000 ounces and a 0.5 per cent royalty on gold produced from the Darwin Target Zone, after being in control of the operation for six months.
'This has been a transformational quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania.'
Kaiser Reef managing director Jonathan Downes
The company produced 4069 ounces of gold at Henty from May 15 – June 30, generating revenue of $21.205m from the Tassie mine, against operating costs of just $10.147m, indicating the potential for future profitable operations at the site. All-in sustaining costs totalled $2951 per ounce of Tassie gold.
Its Maldon plant produced 756 gold ounces from mining at its existing A1 gold mine 120km east-northeast of Melbourne.
Kaiser plans to pump out more than 30,000 ounces of gold a year from Henty, 30 kilometres north of Queenstown, as it aims to reach its stated goal of a total 50,000 ounces a year from its Tasmanian and Victorian operations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AU Financial Review
15 minutes ago
- AU Financial Review
ASX set to rise, US stocks edge broadly lower
Australian shares are poised to edge higher. Shares were modestly lower in New York after data on the US services sector disappointed and oil fell after a report Russia is set to propose an air truce with Ukraine. Results expected on Wednesday include AMP, News Corp, REA Group and Pinnacle Investment Management Group. The Institute for Supply Management's index of services declined last month to 50.1, below all estimates in a Bloomberg survey of economists. The employment index contracted. The group's measure of prices paid for materials and services climbed to the highest since October 2022. 'Spending on services has already slowed significantly from its solid pace last year, and the clear deterioration in the labour market and drag on real incomes from tariffs suggest a marked recovery is unlikely,' Pantheon Macroeconomics said. 'Even so, we think stagnation in the coming months is far more likely than a collapse.' President Donald Trump said that Treasury secretary Scott Bessent had withdrawn his name from consideration as a successor to Jerome Powell as chairman of the Federal Reserve. Market highlights ASX futures are pointing up 16 points or 0.2 per cent to 8744. All US prices as near 2.30pm New York time. Today's agenda Results are expected on Wednesday from AMP, News Corp, REA Group, Pinnacle Investment Management Group, BWP Trust, Centuria Industrial Reit, Charter Hall Long WALE REIT and Emerald Resources NL. The data focus is overseas on Wednesday with NZ's second-quarter employment at 8.45am AEST. TD Securities: 'Monthly filled job data imply a negative employment growth print over the quarter at -0.1 per cent. We expect the participation rate to ease again to 70.7 per cent (prior: 70.8) which on net would push the unemployment modestly higher to 5.2 per cent and in line with the RBNZ's May forecast. 'We see the RBNZ cutting by 25bps in August to 3 per cent with most data outcomes coming in line with forecasts but surveys point to near term downside risks to growth.' Top stories Blow to Chalmers' hopes for summit unity as BHP clashes with PC over tax | The nation's biggest corporate taxpayer has pushed back against the Productivity Commission's cash-flow tax proposal, undermining the treasurer's push for unity at his roundtable. Nine's publishing to out-earn free-to-air television in two years | The newspapers division will be the most valuable part of the business after it sells Domain to US property giant CoStar, analysts say. | Automating tasks could deliver a 4.3 per cent increase in labour productivity growth, the Productivity Commission says, but it won't be easy for humans. | The rising cost of building transmission is prompting questions over whether a comprehensive grid build-out is the best energy transition option for consumers.
AU Financial Review
15 minutes ago
- AU Financial Review
The PEXA monopoly's stand-in CFO
The monopoly that PEXA enjoys in the e-conveyancing space is near total. Almost everyone who buys and sells real estate in this country pays something like $140 to the ASX-listed, Commonwealth Bank-backed company that sits between banks when the sale goes through. The $340 million in annual fees it collects is, naturally, a red rag to policymakers like ACCC chair Gina Cass-Gottlieb and Assistant Minister for Competition Andrew Leigh. The latter gets so fired up about its singular dominance he starts giving history lessons about Adam Smith.
The Age
15 minutes ago
- The Age
ASX set to edge up, Wall Street slides lower
US stock indexes are slipping following the latest discouraging signal on the US economy. The S&P 500 was down 0.4 per cent in afternoon trading, coming off its best day since May, which followed its worst day since May. The Dow Jones fell 52 points, or 0.1 per cent and the Nasdaq composite was 0.4 per cent lower. The Australian sharemarket is set for gains, with futures at 4.55am AEST pointing to a rise of 19 points, or 0.2 per cent, at the open. The ASX surged 1.3 per cent to close at a record high on Tuesday. The Australian dollar was flat at 64.67 US cents at 5.11am. A weaker-than-expected report on activity for US businesses in the transportation, retail and other services industries added to worries that President Donald Trump's tariffs may be hurting the economy. But increased hopes for coming cuts to interest rates by the Federal Reserve, along with a stream of stronger-than-expected profit reports from US companies, are helping to keep the losses in check. Edgewell Personal Care, the company behind the Schick, Playtex and Banana Boat brands, fell 21.6 per cent after reporting lower profit and revenue for the latest quarter than analysts expected. CEO Rod Little said it was a very weak season for sun care in North America, while tariffs are acting as a drag on profits. Caterpillar shifted between small gains and losses after likewise reporting a profit that fell short of analysts' expectations. Its operating profit sank 18 per cent from a year earlier, largely due to tariffs making its manufacturing costs more expensive. The stock was most recently up 0.2 per cent. All kinds of companies have been telling investors how much they expect tariffs to shave off their earnings this year, and trade policy was one of the most common topics US services businesses talked about in the latest monthly survey compiled by the Institute for Supply Management about their activity. 'Tariffs are causing additional costs as we continue to purchase equipment and supplies,' one company in the health care and social assistance business said, for example. 'Though we need to continue with these purchases, the cost is significant enough that we are postponing other projects to accommodate these cost changes.' Another business in the real estate, rental and leasing industry told the institute that economic 'uncertainty remains the dominant theme. However, the tariff talk has turned out to be much more bluster than actual policy, and businesses have seemed to tune out the noise.'
