Latest news with #KaiserReef
West Australian
04-08-2025
- Business
- West Australian
Kaiser powers through July growing cash, gold bullion assets
Kaiser Reef has maintained its strong momentum through July, with growth in the company's cash and gold bullion assets from its Henty mine in western Tasmania and its A1 Victorian mining operation. Management says production remained strong at Henty last month. The company's coffers were also bolstered by its A1 gold mine in Country Victoria adding gold ounces, while third-party ore purchase agreements further boosted performance. Kaiser pulled in more than $10.1 million in free cash flow last quarter, after accounting for all expenses, seeing its bank balance balloon to a stellar $24.7 million at the end of June. In July, its cash and bullion stash grew to $30.7 million, before the company dipped into its pocket to pay a final $2.5 million royalty payment for the financial year to Mineral Resources Tasmania. A $500,000 debt repayment followed during the month, leaving a still-considerable jump in its assets for the period. Kaiser has significantly boosted revenue since assuming control of the recently purchased Henty mine, raking in an impressive $25.177 million for the June quarter. The company first sat in the Henty driver's seat on May 15, steering the operation to produce solid results for the balance of the quarter. The company scooped up the profitable underground gold mine from $1.4 billion ASX-listed Catalyst Metals. Management believes its recent quarterly financial report highlighted the payment of significant one-off costs related to the Henty acquisition, which may not have been fully appreciated by the market. It says in addition to its cash build during the quarter, the company paid $1.3 million in brokers' fees for handling the capital raise, $500,000 in corporate advisory fees, $200,000 in legal fees, made a $1 million loan repayment to one of its funders, Auramet International, and paid $800,000 in Auramet establishment fees and costs for the purchase of put options. The put options purchase was a requirement to secure its debt facility and have been fully paid, with the benefit of locking-in a guaranteed minimum price of $4400 per gold ounce. Kaiser executed put options to cover 6000 ounces of gold, consisting of 750 ounces per month across eight months at $4400 per ounce. The 750 ounces represent about one-third of the company's targeted monthly production of 2000 ounces, providing for a strong and prudent price protection instrument. Management has several options available due to the strong financial position it finds itself in. Debt reduction, share buybacks and the payment of dividends are all options. It says no decisions have been made on any potential action. 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 producing a total 50,000 ounces a year from its Tasmanian and Victorian operations. The company acquired the potential company-making Henty project by agreeing to pay Catalyst $15 million in cash and $16.6 million in shares, handing Catalyst a maximum 19.99 per cent stake in Kaiser. After being in control of the operation for six months, 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. The company produced 4069 ounces of gold at Henty from May 15 to June 30, generating revenue of $21.205 million from the Tassie mine, against operating costs of just $10.147 million, highlighting the possibilities for future profitable operations at the site. All-in sustaining costs totalled $2951 per ounce of Tassie gold. Kaiser also holds the strategic Maldon processing plant, which produced 756 gold ounces from mining at its existing A1 gold mine, 120km east-northeast of Melbourne. Kaiser and Catalyst have forged an agreement for a 50/50 joint venture at Kaiser's Maldon processing plant, providing both companies with an opportunity to lift production ounces. The JV allows for Catalyst to co-develop the plant, which is strategically placed between Victoria's gold-rich regions around Bendigo and Ballarat. Increasing the capacity of the Maldon plant could fire up both firms' processing plans, allowing Kaiser to feed gold-bearing ore from its existing A1 gold mine. Meanwhile, Catalyst could send material into the plant from its Four Eagles project north of Bendigo, which has 70,000 ounces gold at an eye-opening 26 grams per tonne (g/t) in its Boyd's Dam project. Kaiser now has a five-year mine plan for Henty, based on a current mineral resource of 4.1 million tonnes at 3.4g/t gold for 449,000 ounces. This is supported by current ore reserves of 1.2Mt going 4g/t for 154,000 ounces of gold. The mine has historical production of 1.4 million ounces at an impressive 8.9g/t gold. Kaiser will benefit greatly from Catalyst's recent investment in drill platforms, tailings facilities and underground fleet equipment before the sale took place. Kaiser believes Henty also has tremendous scope for near-mine exploration and development success, aided by some significant infrastructure, including underground and surface workshops, an administration complex and a coveted 300,000t-per-annum carbon-in-leach processing plant. The plant is fully permitted to 2030. The mine comes with the twin benefits of hydro-generated grid power and renewed tailings storage capacity. Kaiser jumped on the deal to pick up Henty with a successful $30 million share placement, in addition to a $10 million funding package from Auramet. There remains $2 million in undrawn funds. Combined with its solid bank balance, it is well-placed for working capital. Kaiser appears to be pumping out cash and bullion at a more than healthy rate since strapping itself in at Henty. It will be hoping the good times and today's high gold price continue. Is your ASX-listed company doing something interesting? Contact:
The Age
08-07-2025
- Business
- The Age
Tassie mine acquisition turns Kaiser into multi-asset gold producer
Since completing its Tasmanian Henty gold mine acquisition in mid-May, Kaiser Reef has processed 35,853 dry tonnes of ore gold at a head grade of 4.05g/t for 4069 ounces of gold, transforming it into a multi-asset gold producer. Kaiser is bedding the Henty operation down nicely, achieving an 87.1 per cent metallurgical recovery rate in its first 1.5 months of ownership. And a quick look at the operation's recovery history suggests there may be room for further recovery gains. In 2021, then-owner Catalyst Metals reported an average 94.5 per cent recovery rate at Henty. Before Catalyst took over, the mine had an average metallurgical recovery rate of 76.1 per cent. Catalyst attributed its significant improvement to an improved process plant leach environment, including optimised cyanide levels, while retaining a low tails grade of 0.27g/t gold. Kaiser Reef managing director Jonathan Downes said: ' This has been a landmark quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania, a profitable production centre with at least a 5-year mine life, based on reserves, and fantastic exploration potential.' 'This is the single biggest quarter of production for Kaiser and we look forward to building from here.' Kaiser Reef managing director Jonathan Downes Kaiser Reef is a high-grade gold mining and exploration company with a focus on mining and exploring for gold in Tasmania and the Victorian goldfields, which have a long and storied mining history. Downes said that with the Henty acquisition, Kaiser's transformation into a three-gold project operation, including two operational mines and two processing plants, had combined with the current stellar gold price environment to give the company its single biggest quarter of production. In addition to Henty, Kaiser owns and operates the A1 gold mine, the Maldon gold mine in Victoria, which is on care and maintenance, and the Maldon gold processing plant.
West Australian
08-07-2025
- Business
- West Australian
Tassie mine acquisition turns Kaiser into multi-asset gold producer
Since completing its Tasmanian Henty gold mine acquisition in mid-May, Kaiser Reef has processed 35,853 dry tonnes of ore gold at a head grade of 4.05g/t for 4069 ounces of gold, transforming it into a multi-asset gold producer. Kaiser is bedding the Henty operation down nicely, achieving an 87.1 per cent metallurgical recovery rate in its first 1.5 months of ownership. And a quick look at the operation's recovery history suggests there may be room for further recovery gains. In 2021, then-owner Catalyst Metals reported an average 94.5 per cent recovery rate at Henty. Before Catalyst took over, the mine had an average metallurgical recovery rate of 76.1 per cent. Catalyst attributed its significant improvement to an improved process plant leach environment including optimised cyanide levels, while retaining a low tails grade of 0.27g/t gold. Kaiser Reef is a high-grade gold mining and exploration company with a focus on mining and exploring for gold in Tasmania and the Victorian goldfields, which have a long and storied mining history. Downes said that with the Henty acquisition, Kaiser's transformation into a three-gold project operation, including two operational mines and two processing plants, had combined with the current stellar gold price environment to give the company its single biggest quarter of production. In addition to Henty, Kaiser owns and operates the A1 gold mine, the Maldon gold mine in Victoria, which is on care and maintenance, and the Maldon gold processing plant. Gold processed and reconciled at Kaiser Reef's Maldon plant between April 1 and June 30, including feed from the A1 gold mine and third-party purchases, amounted to 10,918 dry tonnes at a head grade of 2.42g/t gold for 756.3 ounces of gold, for an 89 per cent recovery rate. Reconciled gold mined from the A1 gold mine in that time totalled 4262 dry tonnes at a 4.03g/t head grade for 551.7 ounces of gold mined. For the first 10 days of Henty ownership, Kaiser reported a record gold pour of about 1200 ounces, leading to the company's estimated combined operations production rate of about 30,000 ounces of gold per year. The Henty acquisition has positioned Kaiser as a multi-asset gold producer with significant growth potential. The operation is endowed with an estimated 449,000-ounce mineral resource at 3.4g/t gold, with 88 per cent classified in the measured and indicated categories. Its current ore reserves of 154,000 ounces at 4g/t gold give the current show an operational mine life of more than five years, with upside for future reserves from conversion of resources and future exploration. It will be interesting to see how things shape up for Kaiser when Henty production really comes on-song over the next few months of continuous processing and when its A1 mine transitions from its development phase to full production. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
08-07-2025
- Business
- Sydney Morning Herald
Tassie mine acquisition turns Kaiser into multi-asset gold producer
Since completing its Tasmanian Henty gold mine acquisition in mid-May, Kaiser Reef has processed 35,853 dry tonnes of ore gold at a head grade of 4.05g/t for 4069 ounces of gold, transforming it into a multi-asset gold producer. Kaiser is bedding the Henty operation down nicely, achieving an 87.1 per cent metallurgical recovery rate in its first 1.5 months of ownership. And a quick look at the operation's recovery history suggests there may be room for further recovery gains. In 2021, then-owner Catalyst Metals reported an average 94.5 per cent recovery rate at Henty. Before Catalyst took over, the mine had an average metallurgical recovery rate of 76.1 per cent. Catalyst attributed its significant improvement to an improved process plant leach environment, including optimised cyanide levels, while retaining a low tails grade of 0.27g/t gold. Kaiser Reef managing director Jonathan Downes said: ' This has been a landmark quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania, a profitable production centre with at least a 5-year mine life, based on reserves, and fantastic exploration potential.' 'This is the single biggest quarter of production for Kaiser and we look forward to building from here.' Kaiser Reef managing director Jonathan Downes Kaiser Reef is a high-grade gold mining and exploration company with a focus on mining and exploring for gold in Tasmania and the Victorian goldfields, which have a long and storied mining history. Downes said that with the Henty acquisition, Kaiser's transformation into a three-gold project operation, including two operational mines and two processing plants, had combined with the current stellar gold price environment to give the company its single biggest quarter of production. In addition to Henty, Kaiser owns and operates the A1 gold mine, the Maldon gold mine in Victoria, which is on care and maintenance, and the Maldon gold processing plant.
The Age
26-05-2025
- Business
- The Age
Kaiser hits ground running with 1200-ounce first Tassie gold pour
Kaiser Reef has hit the ground running since taking control of its recently purchased Henty gold mine in Tasmania, with an impressive 1200-ounce gold pour after only 10 days in the driver's seat. In mid-May, the company put its hands firmly on the controls at Henty, after nabbing the profitable underground gold mine in western Tasmania, 30 kilometres north of Queenstown, in a reciprocal deal with successful goldie Catalyst Metals for a $31.6 million upfront payment. With its aim to become a multi-asset Australian gold producer, Kaiser now plans to churn out more than 30,000 ounces of gold a year from Henty as it motors to its stated goal of a total 50,000 ounces a year from its Victorian and Tasmanian operations. Management says the first gold pour likely exceeded the 1200-ounce level and is in transit to the Perth Mint for refining. 'It's been an excellent start for Kaiser at Henty, the team is transitioning well and operational performance has been excellent.' Kaiser Reef executive director Brad Valiukas With Henty now positioned as Kaiser's flagship asset, the mine will benefit from the company's laser focus on driving further operational improvements and building on Catalyst's significant work. Henty has a solid five-year mine plan based on a current mineral resource of 4.1m tonnes at 3.4 grams per tonne (g/t) gold for 449,000 ounces. This is supported by current ore reserves of 1.2mt going 4g/t for 154,000 ounces gold. The mine is a proven gold operation with historical production of 1.4M ounces at an excellent 8.9g/t gold. Catalyst recently invested in drill platforms, tailings facilities and underground fleet equipment. Kaiser's management believes Henty has tremendous scope for near-mine exploration and development success, aided by some significant infrastructure, including underground and surface workshops, an administration complex and a coveted 300,000-tonne-per-annum carbon-in-leach processing plant. The plant is fully permitted to 2030.
