I did post here in this forum thread earlier today - as a further comment below a previous post about consolidation in the Leonora area, and I went off on some tangents about Kerry Harmanis, Tim Goyder, Gina Rinehart, LTR, AZS, etc. - see here: https://strawman.com/forums/topic/4503#post-21704 It was all prompted by a MoM ("Money of Mine") YouTube podcast video that I was watching earlier today. Plenty more insights where that came from here: Money of Mine - YouTube
Their latest effort, recorded earlier today, was all about the current crop of Aussie mining sector quarterly reports:
Deciphering ASX Mining Quarterlies! | Daily Mining Show - YouTube
"All you need to know in the quarterlies for BGL, WA1, PRU, MIN, GMD, SLR, WGX + CAI."
0:00 Preview
0:57 Intro
4:05 Bellevue pours first gold
5:17 WA1 gets the market excited
6:32 Perseus continues to build cash
8:50 Sandfire’s full quarter of Motheo
11:40 MinRes tidying things up
13:32 Genesis first quarter with Gwalia… Worth it?
15:41 Silver Lake moving cash
17:29 WestGold working capital re-jig
18:50 Calidus priorities laid bare
DISCLAIMER
All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional.
* * *
I then added a fair bit more to that post (referred to above) a little later this evening. Today was another day of positive sentiment across the Aussie Gold Sector as demonstrated by the gold ETFs and ETPs falling a little but the majority of gold miners, explorers and project developers rising, and some by a fair whack!
Gold was once again the best performing sector on our market today (Friday 27th October 2023):
OK, plenty of announcements across the watchlist during the past week. Here are all the links - to the major announcements - from the companies in alphabetical order:
25/10/23: Quarterly-Activities-Report-ALK.PDF
23/10/23: Ausgold-Board-Changes.PDF
26/10/23: First-gold-poured-at-Bellevue-Gold-Project.PDF
23/10/23: CAI-Global-lithium-producer-SQM-takes-40-in-Pirra-Lithium.PDF
26/10/23: Maiden-Bulletin-Resource-of-111,000oz-at-41gt.PDF
The ASX queried that announcement and placed CAI into a "Trading Pause" at 3:29pm (Thursday 26th), then CAI called for a "Trading Halt" at 3:59pm, one minute before the scheduled close of the ASX on Thursday. The following morning, before the market opened, CAI released the following ammended announcement to lift the trading halt:
27/10/23: Maiden-Bulletin-Resource-of-111,000oz-at-41gt---Amended.PDF
27/10/23: Quarterly-Activities-Report-and-Quarterly-Cashflow-Report-titled-On-Track-to-meet-FY24-Guidance.PDF
[CAI's SP rose +21.88% on the day, from 16 cps to 19.5 cps, so Calidus was the sector's best performer by a country mile!]
24/10/23: Quarterly-Activities-Appendix-5B-Cash-Flow-Report-CMM.PDF
27/10/23: CMM-Annual-Report-to-shareholders.PDF
25/10/23: DEG-Quarterly-Activities-Report---September-2023.PDF
25/10/23: DEG-Quarterly-Cash-Flows-Report---September-2023.PDF
26/10/23: EMR-Annual-Report-to-Shareholders.PDF
27/10/23: Recommended-and-Unconditional-Takeover-Offer-for-Bullseye-Extended-(Again!).PDF
26/10/23: Investor-Presentation---September-2023-Quarterly-Results-GOR.PDF
26/10/23: Quarterly-Activities-Report---September-2023-GOR.PDF
26/10/23: Quarterly-Activities-Report---September-2023-GMD.PDF
27/10/23: Change-in-substantial-holding-from-GMD-for-DCN.PDF
23/10/23: Quarterly-Activities-Appendix-5B-Cash-Flow-Report-KAU.PDF
25/10/23: Quarterly-Activities-Appendix-5B-Cash-Flow-Report-KCN.PDF
25/10/23: Highly-experienced-mining-executive-appointed-as-CEO-of-LSA.PDF
25/10/23: LSA-Completion-of-Acquisition-of-NSW-Copper-Gold-Portfolio.PDF
25/10/23: DEV-DevEx-Completes-Sale-of-NSW-Copper-Gold-Portfolio.PDF
24/10/23: September-2023-Quarter-Report-PRU.PDF
26/10/23: Red-5-Sustainability-Report.PDF
26/10/23: RMS-Resignation-of-Chief-Financial-Officer.PDF
26/10/23: Quarterly-Activities-Report-RRL.PDF
25/10/23: SBM-Presentations-to-2023-Annual-General-Meeting.PDF
24/10/23: SLR-Annual-Report-to-shareholders.PDF
26/10/23: SLR-Quarterly-Activities-Report.PDF
23/10/23: Spartan-Exploration-update---Visible-gold-intercept-logged.PDF
25/10/23: Quarterly-Activities-Appendix-5B-Cash-Flow-Report-SPR.PDF
24/10/23: STK-Response-to-ASX-Aware-Query.PDF
27/10/23: Diamond-Drilling-Commencement.PDF
23/10/23: STN-Quarterly-Activities-Report---September-2023.PDF
23/10/23: STN-Share-Purchase-Plan---Shareholders-Invitation-to-Participate.PDF
27/10/23 (3:02pm): Tribune-Declares-a-20-cents-per-share-Dividend.PDF
24/10/23: Quarterly-Activities-Report-WAF.PDF
24/10/23: Quarterly-Cashflow-Report-WAF.PDF
23/10/23: Great-Fingall-Commences.PDF
25/10/23: WGX-September-2023-Quarterly-Report.PDF
25/10/23: WGX-September-Quarter-FY24-Investor-Update.PDF
27/10/23: WGX-Sustainability-Report-2023.PDF
25/10/23: YRL-Drilling-at-Oblique-Confirms-Large-Scale-Potential.PDF
27/10/23: Quarterly-Activities-and-Appendix-5B-Cash-Flow-Report-YRL.PDF
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NST, EVN and a few others released their September Quarter Reports earlier in the month, and I've provided links to those reports previously - in prior posts in this forum thread.
That's it from me tonight - I'll leave you with this image - the first gold bar poured at the Bellevue Gold Project (owned and operated by BGL: Bellevue Gold) in WA on Wednesday, weighing in at 8.3kg. [I've provided a link to BGL's announcement above]
Strickland Metals (STK): Drilling-Defines-Large-Gold-Target-at-Marwari.PDF
You can view today's Bull Case straw from @edgescape on Strickland Metals here: STK - Strickland Metals Limited - Strawman: ASX share price, valuation, research and discussion
Northern Star Resources (NST): September-2023-Quarterly-Activities-Report-NST.PDF
I've made 4 additions to the watchlist today - commentary on what has been removed and what has been added is on the right side of the watchlist.
Strickland Metals (STK) was brought to my attention by @edgescape via his Bull Case straw on them earlier today (Thursday). M2M and STN are both active in the Leonora Area (above Kalgoorlie in WA's central goldfields) and they are both trying to develop their own gold projects, which could make them takeover targets at some point for anyone trying to consolidate (roll up) gold projects in the Leonora area - which is the stated intention of Raleigh Finlayson at Genesis Minerals (GMD) as I mentioned a few days ago (see below in this gold forum thread).
Of the goldies discussed above, I hold NST and GMD, but not STK, M2M or STN (yet).
Only one place to hide today it seemed:
Wednesday 18th October 2023: I'll take it!
GMD/DCN: Recommended-Takeover-Offer-for-Dacian-now-Unconditional.PDF
EVN: September-2023-Quarterly-Report-EVN.PDF
Also from Evolution Mining (EVN): Exploration-Success-at-Mungari-and-Cowal.PDF
EVN also released their Annual Report Today. You can view it here: 2625444-2023-Annual-Report.pdf (evolutionmining.com.au)
RED: September-2023-Quarterly-Activities-Report-RED.PDF
NCM: Scheme-becomes-effective.PDF [today, Wednesday]
plus: Federal-Court-of-Australia-approves-Scheme.PDF [yesterday, Tuesday]
plus: Update---DividendDistribution---NCM.PDF [today, Wednesday, NCM went ex-div today for a US$1.10/share fully franked special div. and their share price dropped by $1.77/share or -6.58%, so by more than the grossed-up value of that dividend.]
Newcrest Mining (NCM) will cease trading on the ASX next Thursday, October 26th. Australian-based NCM shareholders will be issued with Newmont CDIs that will be able to be traded on the ASX, but Newcrest will be a subsidiary of Newmont, the world's largest gold mining company, based in the USA. Northern Star Resources (NST) will become Australia's largest ASX-listed gold mining company as from Friday of next week. Happy Days!
Monday 16th October 2023: Positive day across the gold sector, with the vast majority of goldies up today:
Good to see the writers' strike over in the US and late night talk shows back on the air (instead of endless repeats). That smiley face there reminds me of Stephen Colbert's impression of Joe Biden...
The gold sector was the standout sector today on our market, rising by even more than IT fell.
KCN: Mining-Operations-Commence--Appointment-of-new-GM.PDF
GMD/DCN: Recommended-offer-to-acquire-remaining-20-of-Dacian-Gold.PDF
plus: DCN-Recommended-GMD-offer-to-acquire-remaining-20-of-Dacian.PDF
plus: GMD-Bidder's-Statement---GMD-Recommended-Takeover-for-DCN.PDF
What's next for Raleigh Finlayson and Genesis Minerals? Red 5 (RED), Mt Malcom Mines (M2M), Saturn Metals (STN)...?
Sons of Gwalia already belongs to Genesis (bought from St Barbara) and Genesis owns almost 82% of Dacian with an agreed offer (recommended by the DCN Board) to buy the other 18%. Gold Fields are based out of Jo'burg in South Africa and are too big for Genesis to takeover, so unless Gold Fields want to offload Wallaby and Granny Smith, those two mines are off the table. Sunrise Dam is probably too far away from Leonora and AngloGold Ashanti are also too big for Genesis to take on. RED 5's KOTH is certainly in the frame, as is STN's Apollo Hill and M2M's Malcolm Gold Project, although it's very early stages for M2M.
Perhaps RF will focus on what he has already bitten off and let M2M and STN drill away and either (a) firm up their gold or (b) waste shareholders' money on holes in the ground that show they have nothing economically viable to mine. And if there's something decent there (so, a., not b.), then he might get more interested.
More M&A across the sector to come methinks.