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News.com.au
12-06-2025
- Business
- News.com.au
These explorers are looking to revamp gold in the historic Gascoyne
Gold exploration in Gascoyne heating up BNZ, SPR and WYX eyeing a slice of the pie Region also prospective for precious metals like silver WA's Gascoyne region was dug up by old timers for over a century, with towns built on the dreams of gold prospectors. And plenty of what glittered turned out to be gold. Notable mines included the Star of Mangaroon, which was found in 1956 and mined until 1983, producing a total of 7464oz of gold at a whopping 34.8g/t gold. The story goes that the assayer wrote on the bottom of his report 'If you don't start working this, I'll come up and do it myself.' In recent years, the region has received a new lease on life, with major discoveries in gold, rare earths, lithium and more. But today we're looking at the goldies who are looking to revive the Gascoyne. One of these new movers is dual-listed Benz Mining Corp (ASX:BNZ),which back in January acquired Spartan Resources' (ASX:SPR) Glenburgh gold project, mopping up a resource containing 16.3Mt at 1g/t gold for 510,000oz. With previous gold hits up to 11.6g/t and huge exploration potential over 50kms of strike within over 786km2 of underexplored terrain, BNZ has previously called it a 'transformational acquisition,' comparing the project's geological setting to the multi-million-ounce Tropicana gold discovery. BNZ kicked off maiden drilling this year reporting new hits of up to 19.9g/t gold and a high-grade wide zone of mineralisation smack bang between the Icon and Apollo deposits – indicating they could be linked. Now, BNZ has commenced a massive 30,000m program to chase the tail of this potentially continuous, large scale gold system. And keeping a slice of the pie, SPR is also now the biggest shareholder Benz, holding a 14.9% stake and participating $2m in a recent $13.5m placement to drive drilling at the project. BNZ has shown the opportunities on offer from the gold rich region, Gascoyne gold back in fashion BNZ is not the only company hunting for gold in the area. Western Yilgarn (ASX:WYX)has also pivoted to explore for the precious metal, having just secured the Gascoyne project following the acquisition of three exploration licences (E09/2986, E09/2987 and E09/2988) covering a total area of 201km2. The latest addition to the company's portfolio holds huge exploration upside over the same host rocks as the Glenburgh project, which is just 8.7km down the road. 'We are extremely pleased to secure the Gascoyne Gold Project as it provides excellent potential to delineate gold resources similar to the Benz Mining Corp, Glenburgh mineralised gold system which now expands over 50km in length," WYX non-executive director Pedro Kastellorizos said after picking up the project in early may. "The company has the same geological lithologies (Dalgaringa Supersuite metamorphic rocks) as the Glenburgh Gold Project located to the north of the current tenements. We have now commenced a geological and geophysics review for the purposes of delineating gold targets to commence ground exploration activities." The company is confident that – despite the region's strong gold potential being explored in recent decades – there remain areas that are highly underexplored and could present a substantial opportunity to host gold mineralisation. Geological and geophysics reviews are underway to define gold drill targets. It's just 300km east of Carnarvon, and delivers both geographical and commodity diversity for WYX. Western Yilgarn's priority focus has been on bauxite, the key feedstock for aluminium. Its Julimar West project north of Perth contains an inferred resource of 168.3Mt at 36.1% Al203 & 14.7% SiO2 (cut-off: ≥25% Al2O3). Location map showing the Gascoyne gold projects area with nearby gold mineral occurrences and deposits. Source: WYX Another company on the gold hunt is Dreadnought Resources (ASX:DRE), which holds the Mangaroon project in the Gascoyne, where RC drilling is underway at the Star of Mangaroon prospect. There, near-surface historical results were surprisingly not included in the November 2024 resource nor the January 2025 scoping study. The plan is to shore up additional open cuts on the granted mining leases to bolster the already robust scoping study, with the goal of producing more gold, improving mining efficiency and increasing cashflow. More precious metals than just gold? While gold is the commodity of choice in the region, don't discount other precious metals like silver. The "poor cousin" of gold has come to life in the past week after breaking a key resistance level of US$35/oz. Taruga Minerals (ASX:TAR) is one example, having recently applied for three contiguous permits (covering 385km2) in the highly prospective northern Gascoyne province, which contain numerous high grade historical workings for base and precious metals. The Thowagee tenement is especially interesting, as it features two historic polymetallic mining operations, with the Thowagee mine producing 15.2 tonnes of lead and 5878 grams of silver. Gold, copper and zinc are also present in the mineral system. Notable historic rock chip results include up to 286g/t silver, 143g/t gold, 59.3% lead and 4.35% copper. While West Coast Silver's (ASX:WCE) main game is at the Elizabeth Hill silver project in the West Pilbara, a deal that has propelled the junior to its highest share price since early 2024, WCE has a stake in the Gascoyne gold game as well via its JV with Falcon Metals (ASX:FAL) at Errabiddy, where Falcon Metals can earn a 70% stake by spending $2m on exploration. The project contains 960km2, including over 400km2 solely owned by WCE, with the company also holding 100% of the graphite rights – important given its proximity to Buxton Resources' (ASX:BUX) Graphite Bull project. At Stockhead, we tell it like it is. While Buxton Resources, Western Yilgarn, Spartan Resources, Taruga Minerals and West Coast Silver are Stockhead advertisers, they did not sponsor this article. Originally published as Gold is back in the spotlight in WA's Gascoyne region
Mercury
06-05-2025
- Business
- Mercury
Tony's Takeaway: Surfs up on the quarterly wrap wave
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Tony Locantro has been a client advisor/investment manager in the stockbroking industry since 1998. He's focused on the small cap and emerging companies with a strong interest in identifying those in the mining, biotech and industrial sectors that offer growth potential. He also delves into the psychology of speculation and provides regular insights on a number of social media and finance related outlets. Tony Locantro returns to the desk after a pit stop in Sanur, Indonesia, where he has learned the art of riding the quarterly wave. Tune in to hear Tony provide his recap of which quarterlies caught his eye, and more. The views, information, or opinions expressed in this video are solely those of the author and do not represent the views of Stockhead. Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this video. Viewers should obtain independent advice based on their own circumstances before making any financial decisions. While Spartan Resources and Dimerix are Stockhead advertisers, they did not sponsor this content. Originally published as Tony's Takeaway: Surfs up on the quarterly wrap wave
Sky News AU
01-05-2025
- Business
- Sky News AU
ASX 200 opens lower on Thursday following strong week and setting a new 20-day high
The S&P/ASX 200 has opened lower on Thursday morning, dropping 12.10 points or 0.15 per cent to 8114.10 basis points, following a hike and a successful stint over the last week. The dip comes after the index reported in set a new 20-day high, having experienced a 0.2 per cent bump on Wednesday, with Ramelius Resources rising 3.7 per cent and Spartan Resources jumping three per cent. It followed a market surge in the United States overnight on Tuesday amid fresh data showing the RBA's preferred measure of inflation has fallen into its target range. Australian stocks had a steady run in the week before Wednesday's spike, rising by 3.2 per cent over the five days prior. The dip comes after the release of the latest quarterly CPI figures which showed core inflation dropping less than expected to 2.9 per cent. Headline inflation had remained remains stable at 2.4 per cent, but trimmed mean inflation fell into the central bank's target range for the first time since 2021. The figures sparked hope that the RBA is about to make its second interest rate cut of the year, with Sky News Business Reporter Ed Boyd having said that lowering inflation could lead to a boost in market confidence. The bottom performing stocks in the index on Thursday morning are Nickel Industries Limited and Pilbara Minerals Limited, which are down 3.10 per cent and 2.99 per cent respectively. Heavyweight materials and financials sectors are down as well consumer discretionary and utilities stocks. Meanwhile across the board, Amchor shares sunk to a three-month low of $14.05 on Thursday morning.
Sky News AU
30-04-2025
- Business
- Sky News AU
ASX 200 rises as fresh data shows inflation falls into RBA's target range, could prompt second rate cut in 2025
The ASX 200 has edged higher following a market surge in the US overnight, amid fresh data showing the RBA's preferred measure of inflation has fallen into its target range. The index bumped up 0.2 per cent on Wednesday, with Ramelius Resources rising 3.7 per cent and Spartan Resources jumping three per cent. Australian stocks have been on a tear over the past week, rising by 3.2 per cent over the past five days. Headline inflation remains stable at 2.4 per cent, but trimmed mean inflation - down from 3.3 per cent to 2.9 per cent - has fallen into the central bank's target range for the first time since 2021. The new figures have sparked hope that the RBA is about to make its second interest rate cut of the year. Sky News Business Reporter Ed Boyd said lowering inflation could lead to a boost in market confidence. 'Inflation numbers today could have an impact on the market,' Boyd said. 'If they're pretty good, the markets should lift even more.' On Wall Street, all major indexes surged despite US employers posting 7.2 million jobs vacancies in March, below the 7.5 million forecast by economists. The Nasdaq rose 0.6 per cent, the Dow Jones increased 0.8 per cent and the S&P 500 jumped 0.6 per cent. Hopes of the ongoing trade war simmering have surged on the back of US President Donald Trump telling reporters tariff negotiations with India are 'coming along great' and predicting there will be a deal between the two major countries. 'I think we'll have a deal with India,' Trump said outside the White House. 'The prime minister, as you know, was here three weeks ago, and they want to make a deal.' US treasury secretary Scott Bessent echoed Trump's comments, telling reporters the US was 'very close on India'. The US President said he was in discussions with Anthony Albanese on tariff discussions after speculation grew on whether the Prime Minister can get in contact with Trump. 'They are calling, and I will be talking to him, yes,' Trump told Nine News. The NZX 50 Index rose about 0.4 per cent on Wednesday before more than undoing these gains and sitting down 0.1 per cent. After Japan pausing trading on Tuesday for Showa Day, Japan's Nikkei 225 spiked almost half a per cent before losing its gains. South Korea's KOSPI is up about 0.1 per cent.
Sky News AU
30-04-2025
- Business
- Sky News AU
ASX 200 rises 0.3 per cent as investors await fresh inflation data that could pave the way for a second RBA rate cut of 2025
The ASX 200 has edged higher following a market surge in the US overnight, as investors await fresh inflation data due on Wednesday that could pave the way for a second RBA interest rate cut of 2025. The index bumped up 0.3 per cent in the early moments of trading on Wednesday, with Ramelius Resources rising 4.1 per cent and Spartan Resources jumping 3.5 per cent. Australian stocks have been on a tear over the past week, rising by 3.2 per cent over the past five days. It comes as investors look forward to inflation data set to be published by the Australian Bureau of Statistics later in the day, which could pre-empt the Reserve Bank to lower the official cash rate. Trimmed mean inflation is expected to fall into the central bank's target range for the first time since 2021, possibly leading to the second rate cut of the year. Sky News Business Reporter Ed Boyd said lowering inflation could lead to a boost in market confidence. 'Inflation numbers today could have an impact on the market,' Boyd said. 'If they're pretty good, the markets should lift even more.' On Wall Street, all major indexes surged despite US employers posting 7.2 million jobs vacancies in March, below the 7.5 million forecast by economists. The Nasdaq rose 0.6 per cent, the Dow Jones increased 0.8 per cent and the S&P 500 jumped 0.6 per cent. Hopes of the ongoing trade war simmering have surged on the back of US President Donald Trump telling reporters tariff negotiations with India are 'coming along great' and predicting there will be a deal between the two major countries. 'I think we'll have a deal with India,' Trump said outside the White House. 'The prime minister, as you know, was here three weeks ago, and they want to make a deal.' US treasury secretary Scott Bessent echoed Trump's comments, telling reporters the US was 'very close on India'. The US President said he was in discussions with Anthony Albanese on tariff discussions after speculation grew on whether the Prime Minister can get in contact with Trump. 'They are calling, and I will be talking to him, yes,' Trump told Nine News. The NZX 50 Index rose about 0.4 per cent on Wednesday before more than undoing these gains and sitting down 0.1 per cent. After Japan pausing trading on Tuesday for ShÅwa Day, Japan's Nikkei 225 spiked almost half a per cent before losing its gains. South Korea's KOSPI is up about 0.1 per cent.
