This is how the Aussie Gold Sector finished the March 2024 Quarter:

Source: MarcusToday, Note: That table above only shows movements for a single day, the last trading day of March, not for the whole month or the quarter.

Forum Post on Pantoro (PNR): Click Here.

Thursday's Announcements (28-March-2024):

FireFly Metals (FFM):

Highly-successful-A$52m-raise-to-accelerate-resource-growth-(FireFly-Metals-FFM).PDF

Investor Presentation March 2024.pdf

Regis Resources (RRL):

Amended-Trading-Halt-Notice.PDF (until Wednesday 3rd April 2024, pending the release of an an announcement in relation to the McPhillamys DFS)

Perseus Mining (PRU):

ORR-Supplementary-Target's-Statement.PDF

Tietto Minerals (TIE):

Takeover---extension-of-offer-period-from-Zhaojin-Capital-(Hong-Kong)-for-Tietto-(TIE).PDF

Annual-Report-to-shareholders-(TIE).PDF

Southern Cross Gold (SXG):

SXG-February-2024-Quarterly-Activities-Report-and-Appendix-5B.PDF

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And this is how the Aussie Gold Sector started off the June Quarter today:

Source: MarcusToday, Note: That table above only shows movements for a single day, the first trading day of April.

Tuesday's Announcements (02-Apr-2024):

Ausgold (AUC):

Settlement-extension-on-acquisition-of-freehold-properties-(Katanning-WA).PDF

Santana Minerals (SMI):

Shiny-Outcomes-from-Latest-Metallurgical-Test-Work-at-RAS.PDF [and the Winner of "announcement title of the day"... is SMI]

Strickland Metals (STK):

Yandal-Project-Exploration-Update.PDF [Click HERE for the "Risks" straw from @edgescape today regarding this announcement]

Gold Road Resources (GOR):

Production-Update-Gruyere-(GOR).PDF [they've had some RAIN in the WA goldfields, especially east of Leonora, Kalgoorlie and Norseman - more on that below these announcements links]

Spartan Resources (SPR):

Craig-Jones-appointed-as-Chief-Operating-Officer-(SPR).PDF

Ten Sixty Four (X64):

X64-Detailed-Restructuring-Documents---Progress-Update.PDF

Southern Cross Gold (SXG):

Trading-Halt-(SXG-Capital-Raising).PDF

Lachlan Star (LSA):

LSA-Investor-Presentation---April-2024.PDF

Regis Resources (RRL):

PRN-Barminco-awarded-$393m-3-year-contract-with-Regis-Res.PDF [note: RRL are in a trading halt from last Thursday through to tomorrow morning - Wednesday 3rd April 2024, pending the release of an an announcement in relation to the McPhillamys DFS]

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Source: Production-Update-Gruyere-(GOR).PDF

See also: Truckies forced to take 2,000km detour to supply Ngaanyatjarra communities after flooding - ABC News [19-March-2024]

Supply trucks usually travel the Great Central Road to deliver goods to communities in the Ngaanyatjarra Lands.(Supplied: Google Maps)

Truck drivers have been forced to take a huge detour to supply the Ngaanyatjarra Lands.(Supplied: Google Maps)

Tourists unaware of floodwaters

Even though some parts of the Great Central Road have been closed for weeks, Mr Rosenberg said some tourists were oblivious. 

He said a traveller came in from Yulara yesterday who planned on driving to Laverton in a two-wheel-drive vehicle. Mr Rosenberg showed the tourist a photo of a grader bogged down in the mud.

"This bloke was just rocking up in this little Suzuki thing," he said, laughing.

"I was like 'If I was you I'd probably just turn around. You don't want your car becoming a submarine.'"

Nathaniel Rosenberg says he used this photo to dissuade a tourist from driving in the area in a two-wheel drive.(Supplied: Alexander Campbell)

But he said, generally, people were not taking risks, given how expensive and costly it could be to fix cars and get them out of bogs in such an isolated part of the world.

Laverton Shire president Patrick Hill told the ABC on Sunday it would take some time for the road to dry out and open.

"There's a lot of water over the road and it looks pretty grim for a while yet," he said.

--- end of excerpt ---

Yeah, I know... it's not a grader, it's a loader; perhaps they printed the wrong photo, or perhaps the journo doesn't know what a grader looks like...

It's probably the loader they got out to try to pull the grader out that was trying to pull the truck out of the mud...

---

Also: Trans-Australian Railway line reopens after major flooding in Goldfields as supermarket shelves are left bare | The West Australian [30-March-2024]

One Week earlier:

That's the major east-west (Trans-Australian) Railway, towards the right side of the image above, running under that water.

Source: Floodwaters force east-west rail line to remain closed until Easter Saturday | Kalgoorlie Miner (kalminer.com.au) [23-March-2024]

Also: WA floods affect local supply chains with 2000km detours | PASA (procurementandsupply.com) [25-March-2024]

Kal copped it earlier in March:

Source: Electrical storm floods Kalgoorlie-Boulder streets, diverts commercial flight | Kalgoorlie Miner (kalminer.com.au) [06-March-2024]

There was also flooding in the North West of WA in the first half of March:

Source: Flooded North West won’t impact consumers, supermarkets, Rita Saffioti ensures | The West Australian [12-March-2024]

Here's the current road closures around Laverton:

Source: https://www.laverton.wa.gov.au/services/roads/road-condition-reports.aspx

Road Condition Reports » Shire of Laverton

Still no access to Gruyere from the west (Great Central Road closed between Cosmo Newberry and Gruyere).

They say we needed the rain, but probably not that much all at once...

I hold GOR shares in my SMSF. They'll be right. Coupla days...

I had a wry smile at this quote @Bear77

"This bloke was just rocking up in this little Suzuki thing," he said, laughing.

As it happens I drove a Suzuki Vitara up the Great Central Road back in the nineties - and we were similarly clueless. Drove into Kalgoorlie and I don't remember how, but we found out you needed permits to travel the road. Went to the Post Office (I think) to apply. They were real helpful and said it should only take three weeks to get the permit back. Problem was we had planned to leave in two days! They came through for us and the permits had been faxed (for the millennials - and those who don't still work in the healthcare industry - that's a magical waxed paper transportation device we used before the internet was a thing) and were waiting for us on the morning we were to leave.

The Road itself was a bit of an eye opener. Travelling through the aboriginal communities was educational, to say the least. You can see it on TV as much as you like, but I don't think you get it unless you see it up close.

Unusually we had some rain at one point, and when it rains it really rains. It was absolutely tipping down. Fortunately, they didn't close the road, but it was touch and go there at one point. If they close the road, you're kind of screwed. You can't go forward and you can't go back. They charge huge fines (per axel) if you drive the road while it's wet, due to the damage you can cause.

On that trip we drove from Melbourne to Perth (via the WA south coast - Albany/Esperance etc.), up to Kalgoorlie, via the Great Central Road to Uluru, down to Coober Pedy and Adelaide and then back to Melbourne. I think we racked up about 13,000 kms and we did it in about three weeks. Good times.

Sounds like a great road trip @Noddy74 - I do like a good road trip, but I haven't done the Great Central Road yet, except the small sealed bit at the east end between Uluru and Kata Tjuta ("The Olgas"). That was in a large (6 berth) motorhome about 12 years ago, and we mostly stayed on the hard stuff on that trip. The first time I went to Coober Pedy, about 25 years ago, I enjoyed it, especially eating in underground restaurants - everything is in man-made limestone caves there or structures dug into the ground to escape the outside heat - but the second time we stayed there was in a caravan park, and we upped and left after one night - spent the extra night up at The Rock where the facilities at the Ayers Rock Campground (part of the Ayers Rock Resort) were far superior. Then Kings Canyon after that, then the long way 'round to Alice (on the bitumen) - I wasn't going to take one of those 4WD shortcuts in a rented 6-berth motorhome.

I didn't mind "The Alice" either however we did spend most days travelling through the West MacDonnell Ranges/National Park, returning at night to sleep in Alice. Some spectacular scenery around there!

Anyway, back to gold... Regis (RRL) emerged from their trading halt this morning with an announcement that McPhillamys’ capex will be ~60% higher than analyst estimates - and their SP only fell -8 cents (or -3.97%, call it -4%) to $1.935. They were trading briefly at over $2.40 this time last year, and they've subsequently been down below $1.50/share in late September, so they're around the middle of that 12 month trading range. See: McPhillamys-Gold-Project-Definitive-Feasibility-Study-Update.PDF.

I don't think the upside that should come with McPhillamys is fully priced in with Regis, so the market wasn't too phased with this news. There is a degree of scepticism that McPhillamys is going to get built at all.

Upside is they now have a DFS for their next big growth project. Downside is the costs have blown out, but I expected that, and it looks like I wasn't Robinson Crusoe there.

If you haven't signed up for the Money of Mine daily newsletter, called "Director's Special", then "do yourself a favour" and check it out: Ramelius Soars while Westgold Wanes (moneyofmine.com)

"Director's Special" Sample:

The Pre-Start

• Regis emerged from a two-day trading halt signalling McPhillamys’ capex will be ~60% higher than analyst estimates (RRL)
• Ramelius printed $125m in March Qtr, exceeding quarterly guidance by 13koz. Cash & gold now at $407m and stock up 10% (RMS)
• Westgold lowers FY24 guidance from 245-265koz to 220–230koz. AISC guidance up $300/oz. Delaying Great Fingall restart till Q3 FY25 (drilling?). Only added $9m and stock is down 14% (WGX)
• Develop considering selling a minority stake in Woodlawn Cu/Zn mine to “recycle capital” (DVP)
• Rio Tinto will now manage the rehabilitation of ERA’s Ranger Uranium Project under a services agreement (ERA)

ERA’s Ranger Mine in the NT

High Grade It

• Min Res’ plans for its proposed 250TJ Lockyer Gas Project have emerged within its EPA application (The West Australian) - Interesting that Stokes’ publication is supporting the lobbying noting BPT has an exemption!
• Gold Valley’s iron ore project, Wiluna West, is facing closure if iron ore prices fall below US$100 per tonne (The West Australian)
• Fortescue let the deadline to buy green energy for its stalled Gibson Island hydrogen plant lapse (The Australian)
• Gold shatters new records with tensions in the mid-east adding to the precious metal’s bull case (Reuters)
• Goldman Sachs, JP Morgan & ANZ amongst sell-side advisers telling their clients that gold is in for a bullish year (AFR)
• The Biden Administration continues its renewables push by approving the USA’s eighth commercial-scale offshore wind project (Reuters)
• Russia’s 3rd largest oil refinery has been hit by a Ukrainian drone. The core unit which has been hit refines 340,000bpd of crude (Reuters)
• New York-listed Gold Fields achieved first production at Salares Norte gold mine in Chile, taking 13 years from exploration to production (Mining.com)

Salares Norte in the Chilean Andes

• Traditional owners of south-west Victoria have released a statement indicating they’ve not been adequately consulted on offshore wind projects (The Australian)
• Morgan Stanley has told clients the recent era of bumper dividends may be behind us, forecasting dividend payout ratios to fall (AFR)
• The EU has exited winter with record gas storage levels after another mild season. Feb demand was roughly one-fifth lower than 2019-21 (FT)
• Deutsche Bank added to the pool of advisers forecasting that Glencore will leave the LSE, tipping New York as its new home (Mining.com)

Wheelin’ n Dealin’

• Whitehaven Coal has completed the $6.4b acquisition of Queensland coal mines Blackwater & Daunia from BHP (The Australian)
• FIRB has requested an extension to 30 April to approve SQM and Hancock’s acquisition of Azure Minerals (AZS)

Rattlin’ the Tin

• After spending several days in a trading halt, Regis Resources came out with a relatively benign announcement on McPhillamys this morning. Were they looking to raise money concurrently before today? ????(RRL)
• Encounter Resources in trading halt pending a capital raise (ENR)

Word on the Decline

• Yesterday Winsome Resources entered a trading halt pending an announced deal. We are led to believe the transaction is likely to involve the Renard Diamond Mine - a permitted operation 100-150kms from Winsome’s Adina. The operation is in care-and-maintenance currently and a road is required to be built from Renard to Adina for Adina’s logistics to be unlocked.
• Time to throw another name in the mix as Karora’s potential new suitor - Agnico Eagle. By now you should know that we are throwing darts, right?

In the Weeds

• Gulf States continue to diversify their fossil fuel wealth into mining assets, with African assets being a major focus. Deals for Zambian copper assets Mopani and Lubambe are the most recent examples of the Middle East’s financial capabilities. Will competition to China’s dominance be beneficial? (FT)

Gulf Nations looking to gain a foothold in mining

--- "do yourself a favour" --- Money of Mine https://www.moneyofmine.com/subscribe

Disclosure: I am a subscriber, but otherwise have no connection to "Money of Mine"; I'm just a fan of their work. Great source of free daily information on what's really going on in Australian Mining, particularly at the small end and with mid-sized companies. And they seem to have a strong focus on gold, and that works for me!

First gold pour at Salares Norte. (Image courtesy of Gold Fields.)

Source: https://www.mining.com/gold-fields-begins-gold-production-at-new-chilean-mine/

23-April-2024: My son and I have just returned from a few days in Coober Pedy - I thought I'd give the town another go - and the experience was a lot better than last time - due to superior accomodation mostly - staying in an underground apartment with 1m thick walls - it was only mid to high twenties outside but apparently these underground homes stay the same temp all year 'round.

We went for a drive out along the dog fence on Sunday - probably the longest fence in the world - it stretches 5,614 kilometres from Jimbour on the Darling Downs near Dalby in Qld through thousands of kilometres of arid land and desert ending west of Eyre peninsula on cliffs of the Nullarbor Plain above the Great Australian Bight near Nundroo (SA).

We only drove a small section of it. The trip was mostly to give my son some hours on his "L" plates.

The "Breakaways" was a highlight.

We passed Prominent Hill on the way up on Saturday - was OZ Minerals, now BHP, copper mostly, plus silver and gold.  Busy enough with road trains of ore passing under the Stuart Highway on their haul roads.

Usually when I'm away and not looking at the markets something positive happens, like a takeover offer for one of my positions. Not this time. Not long enough clearly. S32's report was OK yesterday (S32 +5.6%), but gold didn't have a good day...

And today's looking even worse for gold...

Except for Saturn Metals, which is up by over +14% today so far, on no news. Somebody is buying STM shares... I almost bought them here in my Strawman.com portfolio a couple of weeks ago for a trade, and they got away from me and I thought I'd missed the low point, but they just keep rising. Very high risk, as they are an explorer and project developer whose main project, Apollo Hill, has a LOT of gold, but all relatively low grade, although open pit, close to surface, easy enough to get at, and reasonably close to Gwalia/Leonora also. So no income, and will live from CR to CR, or die if they can't raise more capital. Or get taken over. So high potential reward, but also high risk of either going to zero or getting diluted to close to zero.

Source: Commsec, just prior to the CSPA, final closing volume (after the CSPA) was 447,143 shares, 65 Trades for a total value of just under $103K.

So big move on smallish volume in dollar value terms.

Great work @Bear77

Can you detour to Nolans and let me know the current progress of ARU? haha ;-)

Back in Adelaide now @Parko5 - but it probably looks a little like this:

Or it did around this time last year I reckon. Source: https://www.australianresourcesandinvestment.com.au/2023/03/30/a-billion-reasons-to-support-arafura-rare-earths/

Which is a bit better than this:

Source: Arafura Rare Earths looks offshore to fund its $1.6billion Nolan rare earths project in the Northern Territory because local banks find critical minerals miners ‘outside their comfort zone’ (afr.com)

But I'm guessing that first image was the accomodation village?

Or is it the processing site?

It was a little further North than where we went:

This image below would not upload so I've tried shrinking it and changing the file format...

OK, that worked - if anyone ever has a .jpg (jpeg) file that won't upload here, change it to a .png file (Portable Network Graphic, a type of raster image file) which I did using MS Paint 3D, and it uploads. Or that one did anyway.

Further info on the Kanku-Breakaways CP: https://www.parks.sa.gov.au/parks/kanku-breakaways-conservation-park

Plenty of colour from brilliant white to deep red. I really like the Breakaways, and it was not a big drive from our Coober Pedy base - we headed up Kempe road, then NW along the dog fence, then through the Breakaways CP then back to the Stuart Highway, so a good loop, all done in about 90 mins, and while over half of it was unsealed, and there was evidence of recent rain, there was no water on the road or much damage.

Yeah - another poor day across the gold sector:

With only 3 in the green of all the ones on my watchlist; STN (who I mentioned earlier) closed up +14.29% as the buying continues, which is hard to do without moving the share price with an illiquid $47m microcap that was worth about $20m less than that a couple of months ago when they were trading at 13 to 14 cps (now 24 cps). GOR and TBR were also in the green, with everyone else across the gold sector either unmoved or down (most were down).

IR1 (Iris Metals) was the only one down by double digits (-11.39%) but I'll likely remove them from that watchlist shortly because they are focused on lithium now and they announced 8 days ago that they had sold their Kookynie Gold Project to Nex Metals Explorations Limited (NME.asx) for 54,054,433 new fully paid ordinary shares in NME, plus a 2% Net Smelter Return (NSR) royalty on any gold they produce in the future.

See here: IR1-Sale-of-Kookynie-Gold-Project.PDF and NME-Nex-Acquires-Additional-Ground-at-Kookynie.PDF [both 15-April-2024]

Apart from IR1 (-11.39%), there were another 6 goldies down by over 5% today - OBM, EMR, KIN, SPR, SBM & CMM - however they're all still up for the 2024 calendar year, with most just coming down off really good recent high points - OBM made a new 3 year high on April 18th, and then tagged the same high today (of 35 cps) before closing down -9% at 30 cps, SBM have more than doubled from 14 cps to just over 30 cps in around 6 weeks (high point was last Friday), EMR are coming off a new 20-year high of $3.81 (in intraday trading last Thursday), KIN hit a year high of 8.8 cps intraday on the 10th April and a 12 month closing high of 8.5 cps on the following day (11th April), SPR hit a new 5-year high of 68 cps early this month, and Capricorn (CMM) made a new all-time intraday high of $5.55/share and a new all-time high closing share price of $5.50/share in the first week of April. So... swings and roundabouts...