Latest news with #KalgoorlieGoldMining
Yahoo
29-05-2025
- Business
- Yahoo
Kalgoorlie Gold Mining completes initial farm-in at Pinjin Gold Project
Kalgoorlie Gold Mining has reached a significant milestone with the completion of its initial farm-in at the Pinjin Gold Project. The company has now secured a 75% interest in the project's key tenures including the areas hosting the Kirgella Gift and Lighthorse discoveries. The successful farm-in at Pinjin South and Kirgella covers tenures that encompass the Kirgella Gift and Providence mineral resources, the Lighthorse discovery and the entire mineralised Lighthorse corridor. This corridor is notable for extending north to gold mineralisation and anomalism at Wessex, which is situated less than 1km from the Anglo-Saxon open-pit gold mine, currently under care and maintenance by Hawthorn Resources. The transaction involved a $1.65m (A$2.56m) cash settlement for ownership in multiple tenures including E 28/2654, E 28/2655, E 28/2656, E 31/1127 and several P 31 parcels. According to the agreement, the vendors will be free carried until a positive bankable feasibility study has been delivered and a decision to mine is made. At that point, they must choose to either contribute their share of costs or convert their interest into a 2% net smelter royalty. Kalgoorlie Gold managing director Matt Painter said: 'This marks a major milestone for the company. We are incredibly proud of the KalGold team's achievements since commencing the farm-in at Pinjin. 'In less than two years, the company has defined over 75,000oz of gold in a near-surface Mineral Resource following JORC Code (2012) guidelines, at Kirgella Gift and Providence. Beyond this, we have defined gold mineralisation and anomalism across multiple prospects throughout the tenement package, including the hugely prospective Lighthorse and Wessex prospects.' The company is now awaiting assay results from its recent large-scale aircore drill programme, which targeted areas north and south of the Lighthorse discovery. The outcomes of these assays will significantly influence Kalgoorlie Gold Mining's future exploration strategy. With the key tenure at the Pinjin project now under its control, Kalgoorlie Gold Mining is preparing to ramp up its exploration efforts. The company plans to accelerate aircore, reverse circulation and diamond drilling activities at Pinjin. Additionally, Kalgoorlie Gold Mining is considering targeted geophysical programmes to detect alteration zones, structures and mineralisation. The objective is to discover new high-priority target areas, make further gold discoveries and increase the mineral resource inventory. "Kalgoorlie Gold Mining completes initial farm-in at Pinjin Gold Project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
West Australian
29-05-2025
- Business
- West Australian
KalGold secures 75 per cent stake in fruitful WA gold project
Kalgoorlie Gold Mining has locked in a 75 per cent stake in its highly prospective Pinjin gold project near Kalgoorlie, completing the first milestone of its farm-in agreement over the project. The company has sealed the deal with a $1.65 million all-cash settlement for the project, which incorporates its Kirgella Gift and Providence mineral resources, alongside its promising breakout Lighthorse discovery and Wessex gold prospect. KalGold says potential remains for it to earn full ownership over the project upon a decision to mine the resources. The development means the company is now firmly positioned as a potential toll treating operation in Western Australia's gold-rich Laverton Tectonic Zone. The farm-in agreement covers four exploration tenements and several prospecting licences, marking a pivotal step for KalGold. The company surpassed all its required metrics to reach its three-quarter stake in under two years. It swiftly defined a 76,400-ounce shallow gold resource at Kirgella Gift and Providence, grading a mineable 1 grams per tonne (g/t) gold, while unearthing significant gold anomalism at both Lighthorse and Wessex. The Lighthorse corridor, in particular, shows massive resource potential. Stretching north to within 1 kilometre of Hawthorn Resources' Anglo Saxon open pit mine, which is under care and maintenance, Lighthorse provides serious exploration upside as KalGold looks to develop its defined resources. 'In less than two years, the company has defined over 75,000 ounces of gold in a near-surface JORC resource at Kirgella Gift and Providence. Beyond this, we have defined gold mineralisation and anomalism across multiple prospects throughout the tenement package, including the hugely prospective Lighthorse and Wessex prospects.' Kalgoorlie Gold Mining managing director Matt Painter The company says its all-cash settlement minimises dilution to its shareholders, while maximising the upside for gold-hungry investors. Under the agreement, the vendors are free carried until a bankable feasibility study or decision to mine, at which point they must contribute costs or convert their 25 per cent interest into a 2 per cent net smelter royalty. Should KalGold reach a decision to mine, the company could secure full ownership of the project, cementing its control over a project sitting just 25km north of Ramelius Resources' 1-million-ounce Rebecca gold project. Rebecca is set for first production in 2027. KalGold's Pinjin project lies within the prolific Laverton Tectonic Zone, a crustal-scale suture hosting giants such as the Sunrise Dam, Granny Smith and Wallaby gold mines, which have a combined output of 30M ounces gold. The company's tenure spans a multi-kilometre corridor ripe for exploration, which is already turning up economic gold. Alongside it, historic Newmont prospects, such as T12 and T15, are yet to be fully tested. February's Lighthorse discovery has already lit up the market with more than a 400 per cent share price run on reports of high-grade hits, including 17m at 4.81g/t gold from 48m and 9m at 3.52 g/t gold from 58m. A recent reverse circulation drilling program confirmed primary orogenic gold mineralisation beneath a supergene blanket, pointing to a potentially large hydrothermal system. KalGold is wasting no time, with plans to accelerate air core, reverse circulation and and diamond drilling across the 2.4km Lighthorse corridor and beyond. Targeted geophysical programs are also on the horizon, designed to sniff out alteration zones, structures and new mineralisation. The company's track record speaks for itself: It defined 214,000 ounces of gold across its WA portfolio, including the 138,000-ounce La Mascotte deposit at its Bulong Taurus project at a discovery cost of $4.60 per ounce. The company says the farm-in deal strengthens KalGold's position to engage strategic partners. Its commanding tenure and low-cost discovery model is drawing attention in a gold market buoyed by prices above $5000 per ounce, more than 1000 times KalGold's current rate of discovery. With a clear path to potential production of its near-surface supergene gold deposits and a pipeline of exploration catalysts, KalGold is shaping up as a serious contender as a cash-flushed WA gold producer. Is your ASX-listed company doing something interesting? Contact:
Yahoo
11-04-2025
- Business
- Yahoo
Insiders Buying Kalgoorlie Gold Mining Might Wish They Invested More, Stock Gains 37%
Kalgoorlie Gold Mining Limited (ASX:KAL) insiders who bought shares over the past year were rewarded handsomely last week. The stock rose 37%, resulting in a AU$5.5m rise in the company's market capitalisation, translating to a gain of 60% on their initial investment. As a result, the stock they originally bought for AU$791.2k is now worth AU$1.26m. While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Over the last year, we can see that the biggest insider purchase was by insider Eduard Eshuys for AU$741k worth of shares, at about AU$0.06 per share. We do like to see buying, but this purchase was made at well below the current price of AU$0.074. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive. While Kalgoorlie Gold Mining insiders bought shares during the last year, they didn't sell. The average buy price was around AU$0.046. To my mind it is good that insiders have invested their own money in the company. But we must note that the investments were made at well below today's share price. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! Check out our latest analysis for Kalgoorlie Gold Mining Kalgoorlie Gold Mining is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. Over the last three months, we've seen significant insider buying at Kalgoorlie Gold Mining. insider Eduard Eshuys spent AU$741k on stock, and there wasn't any selling. That shows some optimism about the company's future. For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 18% of Kalgoorlie Gold Mining shares, worth about AU$3.6m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. It's certainly positive to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. When combined with notable insider ownership, these factors suggest Kalgoorlie Gold Mining insiders are well aligned, and that they may think the share price is too low. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. To that end, you should learn about the 5 warning signs we've spotted with Kalgoorlie Gold Mining (including 4 which make us uncomfortable) . Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
