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Westgold Resources Limited is pleased to present its preliminary production results for Q3, FY24. Despite encountering challenges such as the operational pause at the Paddy’s Flat underground at Meekatharra and adverse weather conditions across all operations, Westgold achieved notable milestones.

In Q3 FY24, Westgold produced 52,100 ounces of gold, with an average sale price of $3,137/oz. Despite the challenges mentioned, the Company managed to increase its cash and bullion reserves by $9M, reaching a total of $247M by the end of the quarter.

However, acknowledging the impact of these challenges on production, the Company has revised its full-year FY24 production guidance to 220,000 – 230,000 ounces at an all-in sustaining cost of $2,100 – 2,300/oz until development plans are finalized. Wayne Bramwell, Managing Director and CEO of Westgold, emphasized the Company's commitment to prioritizing free cash flow over maximizing total production.

Bramwell stated, “Westgold has now achieved five consecutive quarters of cash accumulation, adding $9M to our treasury despite facing significant hurdles. While we are dedicated to recovering lost ounces in FY24, we are resolute in our decision to pause operations that do not meet our shareholders' expectations."

Despite pressure to accelerate mining activities at the Great Fingall mine in Q4, FY24, Westgold remains cautious, opting for a systematic evaluation of the project's feasibility before commencing mining in Q1, FY25.

On a positive note, the Starlight mine continues to surpass expectations, while drilling at Bluebird-South Junction expands the mine's footprint. With 12 drills in operation, Westgold remains focused on enhancing reserve growth across its asset portfolio.

The Company acknowledges the presence of forward-looking statements in this announcement, based on its current expectations about future events and results. While these statements are made in good faith and believed to have a reasonable basis, they are subject to risks, uncertainties, and other factors that could lead to actual results differing materially from those projected.

These risks include resource uncertainty, metal price fluctuations, currency variations, increased production costs, and deviations in ore grade or recovery rates from mining plans. Westgold encourages readers not to overly rely on forward-looking information and assures its commitment to adhere to applicable securities laws regarding the release of any revisions to forward-looking statements.

Spartan Resources Limited (ASX: SPR) unveils significant exploration findings at its Dalgaranga Gold Project in Western Australia.

Spartan Resources Limited has announced a groundbreaking discovery at its Dalgaranga Gold Project in Western Australia. Recent deep drilling has revealed visible gold over 1 kilometer below the renowned Never Never Gold Deposit, indicating substantial mineralization at considerable depths.

The company's drilling efforts have yielded promising results, with over 20 meters of characteristic Never Never-style mineralization detected from a depth of 1,034 meters. Notably, traces of visible gold were observed at 1,046 and 1,050 meters, emphasizing the potential for significant gold deposits at unprecedented depths.

This discovery comes as a significant advancement in Spartan's systematic exploration of the Never Never mineral system. The intercept, characterized by heavy silica flooding, sericite/biotite alteration, and visible gold, marks a substantial extension of the existing mineralization, surpassing 400 meters below the current 0.95 million ounce high-grade Mineral Resource Estimate (MRE).

Spartan's Managing Director and CEO, Simon Lawson, expressed enthusiasm about the discovery, citing its implications for future mining operations. "This latest intercept is another fantastic development in our ongoing exploration efforts," said Lawson. "It extends the mineralization to more than 400 meters below the existing resource and provides clear evidence of the deposit's scale and endowment."

The company's exploration activities also yielded significant results at the Sly Fox Gold Deposit, where assays indicated a doubling of the mineralization footprint. With further drilling planned for resource conversion and exploration, Spartan remains committed to unlocking the full potential of its assets.

In addition to exploration activities, Spartan is actively engaged in mining study work to optimize future operations. With a focus on delivering shareholder returns and building a sustainable, high-grade mine plan, the company is poised for continued growth and success in the gold mining sector.

As exploration efforts intensify and development pathways emerge, Spartan Resources Limited stands at the forefront of Australia's gold mining industry, poised to capitalize on its significant discoveries and drive long-term value for shareholders.

Abra Mining has enlisted administrators, appointing Richard Tucker and Robert Hutson of KordaMentha.

The company, jointly owned by Galena Mining (60%) and CBH Western Australia (40%), is responsible for managing the Abra base metals mine located in the Gascoyne region of WA.

Previously, Abra faced challenges with ramping up mining rates, maintaining mined grade, and contending with recent rainfall events that hindered the transportation of crucial supplies and concentrate haulage.

Tony James, Galena's managing director, reported in March that flooded roads in February and March disrupted concentrate production and haulage, necessitating the preservation of LNG stocks. Additionally, the mined and processed grade fell below expectations due to ongoing operational variances and modeling issues.

To address these challenges, the mine has accelerated a mill re-line, originally slated for April, with the aim of achieving uninterrupted processing once road access is restored.

In January, 107,886 tonnes (t) of ore were milled at a 5.3% lead grade, yielding 7861t of concentrate. However, mill operations were hindered by 95 hours of downtime that same month.

Galena has disclosed that the administrators intend to continue operating the Abra mine and processing plant under normal business conditions while exploring various operational strategies.

Westgold has released its preliminary production figures for the third quarter of the 2023–24 financial year (Q3, FY24).

During this period, Westgold's operations yielded a total of 52,100 ounces of gold, with an average gold price of $3137 per ounce.

Despite facing challenges such as operational pauses and adverse weather conditions at Paddy’s Flat underground, a component of the Meekatharra operation in Western Australia, the gold miner managed to increase its cash and bullion reserves by $9 million. This brings the company's total to $247 million for the quarter.

Wayne Bramwell, the managing director and chief executive officer of Westgold, noted the company's achievement of five consecutive quarters of cash accumulation, adding $9 million to their treasury amidst a challenging quarter.

"While various factors impacted our physical outputs, our primary focus remains on generating free cash flow rather than maximizing production volume at any cost," Bramwell stated. "We are committed to recovering lost ounces in FY24 but are willing to halt operations in mines that fail to meet our shareholders' expectations in terms of returns."

Currently, Westgold is evaluating the feasibility of initiating mining operations ahead of schedule at the Great Fingall mine in WA, weighing the associated pros and cons. Bramwell emphasized the importance of conducting a thorough evaluation of operational risks and costs before making any decisions.

"The challenges faced during Q3 have heightened the pressure to commence mining prematurely at the Great Fingall mine in Q4, FY24. However, rushing into mining without adequate data poses significant operational risks and cost escalations," Bramwell explained. "Therefore, Westgold intends to systematically complete its assessment of early mining activities at Great Fingall, aiming to commence mining in Q1, FY25."

On a positive note, Bramwell highlighted the success of the Starlight mine, which has surpassed expectations, as well as the ongoing expansion of the Bluebird-South Junction mine footprint through drilling activities. With 12 drills in operation, Westgold remains focused on enhancing reserve growth across its asset portfolio.

Gold Road Resources has provided an update on the continued rain impacts affecting the Gruyere joint venture, shared with Gold Fields.

In early March, the gold miner bravely persevered through adverse weather, processing stockpiles at the site despite enduring six months’ worth of rain in less than two weeks.

However, recent developments have brought further challenges. Between March 19–28, the region experienced another bout of “significant and atypical” rainfall, impacting access roads to Gruyere.

Fortunately, the processing of low-grade stockpiles managed to continue for most of this rainy period. Yet, plant operations were halted from March 28 onwards, with a scheduled maintenance shutdown expedited to mitigate disruptions to annual gold production.

The closure of the main supply route to Gruyere, the Great Central Road, since March 5, due to extensive flood damage, has significantly hindered mining activities for the March 2024 quarter.

In collaboration with the Laverton Shire, Yilka, and other local communities, the Gruyere JV has mobilized resources to expedite repairs to the Great Central Road, utilizing earthmoving equipment and personnel from Gruyere.

However, repairs to the flooded sections are expected to be time-consuming. Operations at Gruyere are forecasted to resume in the first week of April.

Despite the prolonged impact of these rainfall events, Gold Road maintains its 2024 annual guidance for Gruyere, with anticipated gold production falling within the lower half of the guidance range of 300,000 to 335,000 ounces (150,000 to 167,500 ounces attributable). Additionally, attributable all-in sustaining costs (AISC) are expected to fall within the upper half of the range between $1900 and $2050 per ounce.

Bellevue Gold has uncovered a vein of ore at its Deacon deposit in Western Australia, boasting exceptionally high grades that surpass initial resource estimates. This discovery echoes the characteristics of other high-grade pyrrhotite-bearing deposits historically mined nearby at the Bellevue load.

The Deacon deposit, one of the primary production zones within the Bellevue gold project, has yielded promising results. According to Bellevue's managing director, Darren Stralow, these findings resonate with the rich legacy of high-grade gold in compact structures historically associated with the Bellevue mine.

The latest infill drilling has exceeded expectations, showcasing grades that outstrip the initial resource estimates. This high-grade ore discovery promises to enhance the early stages of mining operations, ensuring robust production results as the project progresses towards full-scale production.

Furthermore, Bellevue is enthusiastic about the potential for additional discoveries along the Deacon shear, which presents multiple analogous targets for further exploration through underground drilling. To expedite this process, Bellevue is mobilizing additional resources, including another underground drill rig, to intensify infill drilling efforts at Deacon Main in pursuit of similar success.

Despite significant rainfall affecting Regis Resources’ Duketon gold mine, the mine has maintained its projected production for the 2023–24 financial year (FY24).

The Duketon area, along with Laverton, has experienced more than 110mm of rain in March, leading to the temporary closure of roads in the Laverton Shire surrounding the mine.

Regis’ Tropicana joint venture also felt the impact of heavy rainfall, with over 310mm falling over a three-day period.

"Despite the exemplary efforts of our on-site team in managing safety concerns, the heavy rainfall led to the suspension of mining activities and disruptions to power supply," Regis reported.

"The processing plant is currently handling stockpiles and underground feed, while mining from the open pits remains limited."

Road closures between Kalgoorlie and Tropicana have further complicated matters, potentially affecting processing if on-site consumables run out before roads reopen.

Consequently, Regis anticipates quarterly gold production to fall within the range of 90,000 to 95,000 ounces (oz).

"While facing these production challenges, Tropicana is expected to approach the lower end of its annual guidance range," Regis noted.

Nevertheless, the expected gold production of 415,000 to 455,000oz for Duketon remains unchanged, along with planned exploration expenditures of $48 million to $55 million and growth capital investments of $85 million to $95 million.

Ramelius Resources is currently engaged in exclusive talks with Karora Resources regarding a potential acquisition deal.

Initial reports on these discussions surfaced in The Australian Financial Review (AFR), indicating Ramelius' willingness to invest between $700 million and $1 billion for the acquisition.

Ramelius has refrained from confirming the mentioned amount, stating that valuation discussions are still ongoing, and no definitive agreement has been reached yet.

In its announcement on the ASX, Ramelius acknowledged Karora's market capitalization, approximately $C841 million, while emphasizing that discussions, especially regarding valuation, are still in progress. The outcome remains uncertain, including whether a transaction will materialize and at what price.

Karora currently operates primary gold production sites, including the Beta Hunt mine, Higginsville gold operations, and the Spargos gold mine in Western Australia, all wholly owned.

With a focus on organic growth, Karora aims for an annual gold production target of 170,000 to 195,000 ounces, funded through its internal resources.

Ramelius, on the other hand, boasts multiple gold operations across Western Australia, notably the Cue project near the Mount Magnet production center. The company expanded its portfolio by acquiring Musgrave Minerals, the former owner of the Cue project, in July 2023.

Today, on International Women's Day, we celebrate the incredible contributions of women across all industries, including the mining sector. From exploration to operations and beyond, women play vital roles in shaping the future of mining services worldwide.

Their dedication, expertise, and leadership are invaluable assets that drive innovation, sustainability, and diversity within the industry. We honor the women who break barriers, challenge stereotypes, and inspire positive change in mining services, paving the way for a more inclusive and equitable future.

Let's continue to support and empower women in mining, ensuring they have equal opportunities to thrive and excel in every aspect of their careers. Together, we can build a brighter and more inclusive mining industry for all. Happy International Women's Day! #IWD #WomenInMining​

The initial gold bars have been successfully extracted from ore processing activities conducted at Brightstar Resources' Menzies gold project in Western Australia.

Situated on the western edge of the Menzies greenstone belt, approximately 130km north of Kalgoorlie, the Menzies gold project is a significant location for exploration.

Brightstar operates a 50:50 profit-sharing joint venture (JV) with BML Ventures to develop the Selkirk deposit within the Menzies project. Under this agreement, BML Ventures assumes responsibility for all capital expenditures, mining operations, and transportation.

As part of the JV arrangement, there exists a toll treating agreement with Genesis Minerals for the processing of Selkirk ore at the Gwalia plant, which was acquired by Genesis through its purchase of St Barbara's Leonora assets last year.

Alex Rovira, Managing Director of Brightstar, expressed excitement over the milestone achievement, stating, "We are pleased to announce the inaugural gold pour from the Menzies gold project, with 38.7kg of gold doré poured at the Gwalia gold plant yesterday."

He further added, "Our JV partner, BML Ventures, has confirmed the successful transportation of all ore to Gwalia, while the demobilization of project infrastructure and fleet is progressing as scheduled."

Rovira emphasized the commitment to safety and professionalism in conducting the Selkirk Mining JV, highlighting that gold revenues will be equally divided on a 50:50 basis following project cost reconciliations.

He concluded by noting the anticipation of additional gold pours in the coming weeks and assured stakeholders of forthcoming updates on cashflow once all gold revenue and project costs are finalized for the Selkirk Mining JV.