Latest news with #StuartTonkin
Sydney Morning Herald
a day ago
- Business
- Sydney Morning Herald
Why Australia's gold towns could turn into ghost towns
The town's resident population has declined by about a tenth over the past decade to just under 30,000, but housing is scarce, with much of it taken up to accommodate FIFO workers. A recent application by gold miner Northern Star, which owns the mammoth open-cut mine that looms over the town, to build an 800-bed workers camp for staff working on a mill upgrade, was met with concerted local opposition. The project was approved by council in a three-two vote, despite 144 out of 148 submissions by members of the public opposed to the application. The vast majority were concerned FIFO accommodation resulted in a lack of connection and contribution to the local community. The workers would not support local businesses, they feared. 'Get people to come and live here instead of FIFO. Get the population up, instead of down, otherwise Kalgoorlie will be a ghost town. Is that what we really want?' one submission asked. Loading The assessing officer noted Northern Star had proposed operating a daily shuttle bus transporting workers to and from the local shops to improve social and economic connections to the town. 'Our priority is always around residential workforce,' Northern Star chief executive Stuart Tonkin told reporters during a visit to the Kalgoorlie Super Pit site. But the reality was the resident workforce could not support construction and other short-term jobs on its own, he said. 'We are filling up local facilities and hotels and utilising local places, as well as those temporary camps.' Local businessman Murray Leahy fought tooth and nail to avoid using FIFO workers for his Kalgoorlie-based mining services company MLG OZ. But as the business took off, he hit a crossroads: bring in employees from out of town or stop growing. 'We started putting people in houses, and we established a structure whereby we'd fly you in and out for six months and if you wanted to transition your family in, we would pay for you and your family to move to Kalgoorlie,' he said. 'We would provide a house for you free of charge for six months and after that you could salary-sacrifice it, so we were transitioning people from being flyers into being residents. 'Then we ran out of houses to do that with and the market became so strained that we had to stop that program.' Leahy said ideally all the company's 450-odd workforce would be full-time residents, but he was still relying on 200 or so FIFO workers. There was a desire among workers to join the community. About 14 of MLG's FIFO employees were looking to move their families to live in Kalgoorlie residentially but simply could not find a house, he said. 'Fundamentally, the issue that the Goldfields community has stems purely from the fact that we have had very poor state and local government planning over a long period of time,' Leahy said. The state has been 'immensely slow' in releasing land to alleviate the situation, while provision of water and power to enable development has also been lagging. The current council was working hard to try and rectify the issues, 'but they are dealing with a 15-year legacy here of poor planning and poor management'. 'To effectively make the change that's needed, it's 100 per cent reliant upon our state releasing land and key services to be able to drive development.' The government was investing significantly in the Goldfields region, said WA Mining Minister David Michael. The WA budget included $16.8 million in funding to boost development-ready land in Kalgoorlie. Planning was also under way to redevelop Kalgoorlie Health Campus, the state developer was selling houses at its Karlkurla estate project for as low as $205,000, and a new $150 million vanadium flow battery was being installed to secure Kalgoorlie's energy supply. 'Government agencies are also working together, and with industry, to ensure there is sufficient land for housing across our state,' Michael said. 'Land and housing development in the regions is constrained by contractor availability, infrastructure capacity and upgrade timing constraints, native title and higher development costs.' Ballard Mining chairman Simon Lill said he would like to see the government provide more tax incentives for living in Kalgoorlie long term. 'I would love to, and I think Northern Star would love to, see more people in Kalgoorlie. And Lynus would love to see more people in Kalgoorlie. But in the current FIFO world, I'm not sure I can see that happening,' he said. 'Can they make life in Kalgoorlie tax-free for a period or no stamp duty on houses or something like that? 'It is sad to walk down the main street and see so many of the shops boarded up.' Leahy also called for a more generous regional zone tax offset to incentivise people to live there permanently. Kalgoorlie residents can claim $57 off their tax through the scheme. Michael said Kalgoorlie residents could already access generous stamp duty concessions, which the government expanded in the recent budget, and complemented other incentives like low-deposit loans for modular homes.
The Age
a day ago
- Business
- The Age
Why Australia's gold towns could turn into ghost towns
The town's resident population has declined by about a tenth over the past decade to just under 30,000, but housing is scarce, with much of it taken up to accommodate FIFO workers. A recent application by gold miner Northern Star, which owns the mammoth open-cut mine that looms over the town, to build an 800-bed workers camp for staff working on a mill upgrade, was met with concerted local opposition. The project was approved by council in a three-two vote, despite 144 out of 148 submissions by members of the public opposed to the application. The vast majority were concerned FIFO accommodation resulted in a lack of connection and contribution to the local community. The workers would not support local businesses, they feared. 'Get people to come and live here instead of FIFO. Get the population up, instead of down, otherwise Kalgoorlie will be a ghost town. Is that what we really want?' one submission asked. Loading The assessing officer noted Northern Star had proposed operating a daily shuttle bus transporting workers to and from the local shops to improve social and economic connections to the town. 'Our priority is always around residential workforce,' Northern Star chief executive Stuart Tonkin told reporters during a visit to the Kalgoorlie Super Pit site. But the reality was the resident workforce could not support construction and other short-term jobs on its own, he said. 'We are filling up local facilities and hotels and utilising local places, as well as those temporary camps.' Local businessman Murray Leahy fought tooth and nail to avoid using FIFO workers for his Kalgoorlie-based mining services company MLG OZ. But as the business took off, he hit a crossroads: bring in employees from out of town or stop growing. 'We started putting people in houses, and we established a structure whereby we'd fly you in and out for six months and if you wanted to transition your family in, we would pay for you and your family to move to Kalgoorlie,' he said. 'We would provide a house for you free of charge for six months and after that you could salary-sacrifice it, so we were transitioning people from being flyers into being residents. 'Then we ran out of houses to do that with and the market became so strained that we had to stop that program.' Leahy said ideally all the company's 450-odd workforce would be full-time residents, but he was still relying on 200 or so FIFO workers. There was a desire among workers to join the community. About 14 of MLG's FIFO employees were looking to move their families to live in Kalgoorlie residentially but simply could not find a house, he said. 'Fundamentally, the issue that the Goldfields community has stems purely from the fact that we have had very poor state and local government planning over a long period of time,' Leahy said. The state has been 'immensely slow' in releasing land to alleviate the situation, while provision of water and power to enable development has also been lagging. The current council was working hard to try and rectify the issues, 'but they are dealing with a 15-year legacy here of poor planning and poor management'. 'To effectively make the change that's needed, it's 100 per cent reliant upon our state releasing land and key services to be able to drive development.' The government was investing significantly in the Goldfields region, said WA Mining Minister David Michael. The WA budget included $16.8 million in funding to boost development-ready land in Kalgoorlie. Planning was also under way to redevelop Kalgoorlie Health Campus, the state developer was selling houses at its Karlkurla estate project for as low as $205,000, and a new $150 million vanadium flow battery was being installed to secure Kalgoorlie's energy supply. 'Government agencies are also working together, and with industry, to ensure there is sufficient land for housing across our state,' Michael said. 'Land and housing development in the regions is constrained by contractor availability, infrastructure capacity and upgrade timing constraints, native title and higher development costs.' Ballard Mining chairman Simon Lill said he would like to see the government provide more tax incentives for living in Kalgoorlie long term. 'I would love to, and I think Northern Star would love to, see more people in Kalgoorlie. And Lynus would love to see more people in Kalgoorlie. But in the current FIFO world, I'm not sure I can see that happening,' he said. 'Can they make life in Kalgoorlie tax-free for a period or no stamp duty on houses or something like that? 'It is sad to walk down the main street and see so many of the shops boarded up.' Leahy also called for a more generous regional zone tax offset to incentivise people to live there permanently. Kalgoorlie residents can claim $57 off their tax through the scheme. Michael said Kalgoorlie residents could already access generous stamp duty concessions, which the government expanded in the recent budget, and complemented other incentives like low-deposit loans for modular homes.
News.com.au
25-07-2025
- Business
- News.com.au
Gold Digger: Riches rain for gold miners, but value is in the eye of the beholder
Gold miners have been out and about for reporting season Market reactions are heavily dependent on investor expectations, even with the sector printing serious cash Newmont ran hard on Friday after a stellar June quarter Market reactions during reporting period are often a gauge of feelings as much as facts and figures. What's important is not necessarily the number that's reported, but how it correlates to the mood and expectations of the investors punting on a stock. Fortescue's (ASX:FMG) quarterly this week, for instance, was well received because of its record iron ore output and falling costs. But a decision to halt two green energy projects and reduce spending on the troubled division was as much a signal for investors worried about cash burn and dividends to buy in as any of the hard numbers. For the gold scene, the cash generation has been predictably strong. Northern Star Resources (ASX:NST), for instance, reported record underlying free cash flow of $536 million for FY25 on Thursday, after selling 1.634Moz at an all in sustaining cost of $2163/oz. It has a whopping $1.914bn cash on the balance sheet with net cash of $1.013bn after its deal to acquire De Grey Mining, which brought a cash pile with it alongside its world-class Hemi gold project. Cash earnings are expected to clock in at $2.8-2.95bn, with Northern Star also winding down hedging commitments to reflect its balance sheet strength. Yet, NST shares have shed close to 5% over the past week and over 18% in the last month. Despite gold prices climbing 28% YTD, NST shares have barely budged. Dilution from the DEG deal is one thing, but there are also concerns that future earnings will be chewed up by increased capex, especially around its critical Kalgoorlie hub and Super Pit gold mine. Citi downgraded its price target this week from $18 to $21 and reduced EBITDA estimates going forward between 3-7%. Analysts are also questioning the timeliness of numbers on a project to expand the KCGM business and processing plant. MD Stuart Tonkin admitted on an earnings call the operating cost of $1425/oz could be old given the run up in gold prices since the decision was taken. But he maintains it will still be one of the top cash spinners globally. "That $1425 (an ounce) is perhaps a stale number, albeit this asset will be a top 5 global gold mine, and it will be setting inside the third lowest quartile global cost curve, and that's been the investment case," Tonkin said. "So relative it will generate as much cash flow as anything globally." Some more takeaways Capricorn Metals (ASX:CMM) is yet to give its final numbers for the June quarter. But its shares have been in limbo as investors digest some relatively noteworthy M&A activity from the mid-tier gold miner. CMM announced the $189m scheme deal to acquire Warriedar Resources (ASX:WA8). There'll be some dilution – the 1 for 62 share offer will see WA8 shareholders own ~4.36% of the company, equivalent to 15.5c per WA8 share and a 29% premium over Warriedar's July 23 closing price. It's a potential satellite development for CMM's Mt Gibson project, the next cab off the rank for the miner beyond its operating Karlawinda mine, with Warriedar's Golden Range containing a resource of 1.38Moz of gold and 60,000t of antimony. Capricorn has shed over 3% on Friday and more than 4% in the past five days. Pantoro (ASX:PNR) has been a big winner, declaring ~$196m of EBITDA for FY25 including $80.4m for the fourth quarter alone. With a cash build of ~$43m, the more than 25,000oz delivered by the Norseman gold mine came in at the upper half of guidance. PNR set guidance of 100-110,000oz at AISC of $1950-2250/oz. Its shares crumbled 5% on Friday amid a sector wide gold and mining sell off. But they were still ~22% higher on the week, propelling the miner's valuation to almost $1.5bn. At the very big end of the spectrum, Newmont Corporation (ASX:NEM) broke the mould with a 3.8% lift after nearly doubling net income for the three months to June 30 YoY to US$1.595bn. The world's largest gold producer by volume, NEM announced a US25c cash dividend for the quarter after selling 1.38Moz of gold at an average price of US$3320/oz and gold equivalent cost of US$1203/oz when copper, silver, lead and zinc by-products are taken into account. NEM finished the quarter with some US$6.2bn in consolidated cash, US$10.2bn in total liqudity and net debt of US$1.4bn Canaccord's Carey MacRury said free cash generation of US$1.71bn and all in sustaining cost margins of US$1738/oz clocked in well above the broker's US$1538/oz estimate, representing a lift of 34% QoQ and doubling over the past year. "Overall, the quarter highlights improving operating performance, with three solid quarters in a row and tracking well to achieve its 2025 guidance," MacRury said. "Newmont remains one of our Best Ideas among the senior producers with improving production, strong FCF, capital return program, and attractive valuation." Winners and losers CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.009 13% 6% 13% 0% 29% $ 9,763,807.53 NPM Newpeak Metals 0.024 -11% 26% 41% 71% 118% $ 7,729,721.54 MTC Metalstech Ltd 0.135 0% -4% -7% -40% -4% $ 31,087,694.40 GED Golden Deeps 0.026 13% 30% 13% -24% 4% $ 3,896,765.42 G88 Golden Mile Res Ltd 0.01 11% -23% 0% 0% 11% $ 5,442,478.55 LAT Latitude 66 Limited 0.038 3% 52% -16% -71% 0% $ 5,449,226.79 NMR Native Mineral Res 0.135 -4% -27% 214% 575% 246% $ 156,584,324.64 AQX Alice Queen Ltd 0.004 33% 33% -56% -56% -50% $ 5,538,784.76 SLZ Sultan Resources Ltd 0.005 -17% 0% -17% -17% -17% $ 1,388,819.46 KSN Kingston Resources 0.14 4% 8% 89% 79% 97% $ 125,002,075.95 AMI Aurelia Metals Ltd 0.19 -3% -5% 9% -5% 12% $ 338,514,528.00 GIB Gibb River Diamonds 0.04 14% 43% 5% -2% 0% $ 8,580,377.80 KCN Kingsgate Consolid. 2.4 0% 9% 69% 50% 87% $ 641,801,713.08 TMX Terrain Minerals 0.003 20% 50% -25% 0% 0% $ 6,329,535.68 BNR Bulletin Res Ltd 0.047 -23% -19% 34% -4% 21% $ 13,799,826.18 NXM Nexus Minerals Ltd 0.06 -17% -19% 30% 50% 33% $ 36,829,336.39 SKY SKY Metals Ltd 0.081 17% 62% 50% 153% 50% $ 56,121,870.37 LM8 Lunnonmetalslimited 0.24 7% 12% 17% 55% -4% $ 50,744,480.02 CST Castile Resources 0.055 -2% -14% -10% -31% -31% $ 16,816,171.90 YRL Yandal Resources 0.16 -3% 60% 19% 10% -9% $ 51,023,772.03 FAU First Au Ltd 0.005 67% 43% 233% 150% 150% $ 12,457,747.66 ARL Ardea Resources Ltd 0.41 -5% 6% 21% -14% 24% $ 86,269,295.15 GWR GWR Group Ltd 0.115 10% 26% 28% 47% 44% $ 37,214,765.33 IVR Investigator Res Ltd 0.028 0% 17% 27% -42% 40% $ 46,783,248.60 GTR Gti Energy Ltd 0.004 33% 0% 33% 0% 14% $ 14,890,619.22 IPT Impact Minerals 0.008 14% 33% -23% -39% -15% $ 35,939,969.71 BNZ Benzmining 0.6 7% 36% 58% 422% 74% $ 117,407,727.64 MOH Moho Resources 0.004 -20% 0% -20% -33% -20% $ 2,981,656.11 BCM Brazilian Critical 0.017 6% 70% 89% 6% 89% $ 19,657,998.53 PUA Peak Minerals Ltd 0.067 18% 219% 361% 1627% 764% $ 200,605,169.01 MRZ Mont Royal Resources 0.041 0% 0% 37% -38% -5% $ 3,486,221.51 SMS Starmineralslimited 0.03 15% 36% -9% 11% -17% $ 5,574,199.59 MVL Marvel Gold Limited 0.014 8% 8% 75% 75% 56% $ 19,504,319.84 PRX Prodigy Gold NL 0.002 0% 0% 0% -25% 0% $ 12,700,222.20 AAU Antilles Gold Ltd 0.005 0% 25% 25% 67% 67% $ 14,274,408.10 CWX Carawine Resources 0.097 2% -1% -8% 13% -3% $ 22,904,168.55 RND Rand Mining Ltd 1.85 -2% -6% 17% 26% 22% $ 105,789,287.46 CAZ Cazaly Resources 0.02 5% 11% 82% -13% 43% $ 8,764,756.83 BMR Ballymore Resources 0.205 3% 21% 64% 28% 71% $ 36,229,769.93 DRE Dreadnought Resources Ltd 0.011 0% 10% 0% -50% -8% $ 55,874,500.00 ZNC Zenith Minerals Ltd 0.03 -12% -27% -33% -40% -25% $ 16,942,575.90 REZ Resourc & En Grp Ltd 0.019 0% 6% -39% -14% -17% $ 14,201,979.17 LEX Lefroy Exploration 0.13 4% 24% 83% 86% 86% $ 32,294,617.94 ERM Emmerson Resources 0.165 27% 32% 99% 200% 114% $ 95,342,831.85 AM7 Arcadia Minerals 0.025 19% 47% 25% -34% 32% $ 2,817,202.39 ADT Adriatic Metals 5.84 -1% 8% 40% 78% 50% $ 1,772,610,943.10 AS1 Asara Resources Ltd 0.054 -4% 8% 116% 440% 184% $ 59,463,603.79 CYL Catalyst Metals 4.73 0% -13% 33% 146% 83% $ 1,241,289,396.27 CHN Chalice Mining Ltd 1.81 1% 13% 51% 68% 64% $ 729,425,227.50 KAL Kalgoorliegoldmining 0.043 5% 8% 169% 48% 139% $ 15,653,226.90 MLS Metals Australia 0.022 29% 29% 0% 10% -4% $ 15,303,110.00 ADN Andromeda Metals Ltd 0.011 0% -15% 69% -50% 57% $ 43,876,132.42 MEI Meteoric Resources 0.155 3% 29% 85% 29% 82% $ 385,664,859.03 SRN Surefire Rescs NL 0.002 0% 0% -40% -66% -32% $ 6,457,218.50 WA8 Warriedarresourltd 0.145 32% 21% 202% 107% 230% $ 176,446,309.35 HMX Hammer Metals Ltd 0.028 8% -3% -7% -30% -15% $ 25,745,002.30 WCN White Cliff Min Ltd 0.025 9% 14% 25% 47% 56% $ 60,334,653.65 AVM Advance Metals Ltd 0.047 12% 0% 18% 81% 38% $ 12,868,546.37 ASR Asra Minerals Ltd 0.002 0% 33% -33% -67% -33% $ 8,000,396.02 ARI Arika Resources 0.042 -5% 20% 40% 110% 56% $ 37,005,730.00 CTO Citigold Corp Ltd 0.004 0% 33% 14% -11% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.595 2% 9% 23% 51% 23% $ 422,790,424.88 M2R Miramar 0.004 0% 14% 0% -60% 33% $ 3,987,293.14 MHC Manhattan Corp Ltd 0.024 14% 20% 4% -4% 26% $ 5,637,573.55 GRL Godolphin Resources 0.014 22% 56% 0% -7% -3% $ 6,284,226.37 SVG Savannah Goldfields 0.018 -14% 6% 21% -38% -2% $ 20,548,386.70 EMC Everest Metals Corp 0.145 7% 12% 4% 16% 7% $ 30,257,719.43 GUL Gullewa Limited 0.069 0% 0% 23% -1% 23% $ 15,043,529.87 CY5 Cygnus Metals Ltd 0.1 11% 11% -29% 56% 0% $ 105,262,955.62 G50 G50Corp Ltd 0.3 11% 150% 67% 82% 94% $ 48,179,297.70 ADV Ardiden Ltd 0.165 3% 14% 14% 22% 22% $ 10,315,388.49 AAR Astral Resources NL 0.165 3% -6% 10% 109% 22% $ 226,883,100.64 VMC Venus Metals Cor Ltd 0.11 -8% 0% 75% 26% 64% $ 20,593,511.72 NAE New Age Exploration 0.004 33% 14% 33% 14% 14% $ 10,823,645.62 VKA Viking Mines Ltd 0.006 0% 0% -40% -25% -25% $ 9,407,641.24 LCL LCL Resources Ltd 0.006 0% 0% -33% -25% -40% $ 7,195,542.91 MTH Mithril Silver Gold 0.51 3% 2% 34% 240% 28% $ 77,446,791.66 ADG Adelong Gold Limited 0.005 -17% 25% 0% 25% 11% $ 11,243,383.37 RMX Red Mount Min Ltd 0.008 -6% -11% 0% -20% -11% $ 4,658,367.41 PRS Prospech Limited 0.024 0% 41% 0% -35% -17% $ 8,334,169.51 TTM Titan Minerals 0.325 2% 0% -21% -28% -14% $ 83,425,825.92 AKA Aureka Limited 0.105 6% -9% -36% -99% -22% $ 12,605,028.10 AAM Aumegametals 0.034 0% 17% -19% -35% -19% $ 21,817,825.09 KZR Kalamazoo Resources 0.11 13% 22% 49% 49% 49% $ 24,133,286.87 BCN Beacon Minerals 1.305 13% 17% 25% 31% 48% $ 137,359,543.10 MAU Magnetic Resources 1.535 6% -1% 24% 27% 39% $ 398,488,284.32 BC8 Black Cat Syndicate 0.83 2% 3% 18% 144% 47% $ 605,005,588.98 EM2 Eagle Mountain 0.007 17% 17% -22% -85% -22% $ 7,945,261.02 EMR Emerald Res NL 3.69 1% -19% -2% -9% 14% $ 2,477,332,862.48 BYH Bryah Resources Ltd 0.007 -13% -42% 75% 40% 133% $ 6,171,195.19 HCH Hot Chili Ltd 0.63 2% 14% -7% -33% -10% $ 97,033,901.44 WAF West African Res Ltd 2.38 7% 8% 46% 60% 66% $ 2,724,515,917.41 MEU Marmota Limited 0.038 -3% -3% -38% -12% -3% $ 45,953,925.81 NVA Nova Minerals Ltd 0.25 -4% -22% -35% 32% -32% $ 108,405,382.59 SVL Silver Mines Limited 0.15 0% 36% 105% 0% 92% $ 276,692,308.80 PGD Peregrine Gold 0.34 79% 119% 127% 81% 143% $ 27,151,277.12 ICL Iceni Gold 0.066 -1% 16% -8% 0% -7% $ 22,657,891.54 FG1 Flynngold 0.029 -3% -9% 16% 12% 16% $ 11,348,177.63 WWI West Wits Mining Ltd 0.022 13% 10% 38% 47% 57% $ 75,834,374.93 RML Resolution Minerals 0.081 29% 62% 575% 238% 575% $ 54,759,584.50 AAJ Aruma Resources Ltd 0.008 0% -11% -20% -27% -33% $ 2,623,524.20 HWK Hawk Resources. 0.019 -5% 6% -14% -47% -14% $ 5,147,659.53 GMN Gold Mountain Ltd 0.09 -22% 80% -10% -55% -40% $ 12,211,260.60 MEG Megado Minerals Ltd 0.04 3% 167% 208% 282% 135% $ 29,701,430.05 HMG Hamelingoldlimited 0.063 -7% -11% 0% -37% -2% $ 12,988,883.90 BM8 Battery Age Minerals 0.06 -5% 9% -39% -54% -43% $ 9,108,109.38 TBR Tribune Res Ltd 4.71 -1% -1% 10% 20% 10% $ 244,501,238.82 FML Focus Minerals Ltd 0.39 -1% 4% 77% 189% 129% $ 110,325,078.33 VRC Volt Resources Ltd 0.005 43% 25% 67% 25% 67% $ 23,424,247.06 ARV Artemis Resources 0.005 0% 0% -44% -44% -38% $ 13,946,196.91 HRN Horizon Gold Ltd 0.485 -6% -14% -6% 74% 2% $ 86,903,953.80 CLA Celsius Resource Ltd 0.006 -14% -14% -40% -54% -45% $ 20,380,674.94 QML Qmines Limited 0.058 23% 45% 4% 14% 7% $ 25,347,707.19 RDN Raiden Resources Ltd 0.0045 13% -10% -36% -82% -59% $ 15,529,011.49 TCG Turaco Gold Limited 0.465 1% -1% 45% 107% 82% $ 478,009,016.49 KCC Kincora Copper 0.061 11% 69% 110% 22% 126% $ 13,404,980.02 GBZ GBM Rsources Ltd 0.02 -9% 43% 150% 150% 150% $ 29,733,083.31 DTM Dart Mining NL 0.003 0% 0% -71% -84% -67% $ 3,594,166.73 MKR Manuka Resources. 0.046 5% 12% 74% 47% 68% $ 38,344,112.77 AUC Ausgold Limited 0.575 0% -24% 31% 60% 37% $ 248,937,808.84 ANX Anax Metals Ltd 0.007 0% 40% -30% -72% -42% $ 6,179,652.97 EMU EMU NL 0.021 -16% 5% -25% -13% -22% $ 4,436,217.83 SFM Santa Fe Minerals 0.27 -10% 671% 694% 744% 771% $ 19,661,073.03 PNR Pantoro Gold Limited 3.72 24% 20% 108% 164% 143% $ 1,539,826,697.36 CMM Capricorn Metals 8.98 -4% -14% 19% 64% 43% $ 3,996,970,576.74 VRL Verity Resources 0.025 0% 9% 35% -36% 28% $ 6,985,586.70 HAW Hawthorn Resources 0.054 0% -4% 29% -24% 32% $ 18,090,843.10 BGD Bartongoldholdings 0.68 -3% -15% 157% 172% 178% $ 161,740,826.64 SVY Stavely Minerals Ltd 0.017 -11% 55% -6% -39% 0% $ 9,248,715.58 AGC AGC Ltd 0.17 10% 10% 31% -41% 10% $ 41,055,555.52 RGL Riversgold 0.004 -20% 0% 33% -27% 0% $ 6,734,850.37 TSO Tesoro Gold Ltd 0.029 0% 23% 26% -3% 45% $ 62,455,210.42 GUE Global Uranium 0.073 7% 20% -5% 6% 22% $ 32,287,581.78 CPM Coopermetalslimited 0.048 -4% 37% 4% -26% 4% $ 3,761,071.20 MM8 Medallion Metals. 0.27 13% 8% 125% 350% 125% $ 165,175,201.35 FFM Firefly Metals Ltd 1.15 2% 13% 28% 37% 24% $ 748,241,200.93 CBY Canterbury Resources 0.025 0% -17% 14% -48% 14% $ 4,563,699.71 SLA Solara Minerals 0.245 23% 40% 0% -22% 172% $ 13,046,585.18 SFR Sandfire Resources 11.06 2% -1% 11% 31% 19% $ 5,159,967,706.40 TAM Tanami Gold NL 0.059 2% 7% 111% 97% 97% $ 69,330,725.71 NWM Norwest Minerals 0.014 -7% 27% 9% -42% 17% $ 14,525,378.43 ALK Alkane Resources Ltd 0.71 9% -5% 33% 35% 39% $ 423,879,324.40 BMO Bastion Minerals 0.001 -33% -50% -75% -79% -68% $ 3,162,696.47 IDA Indiana Resources 0.088 -1% 14% 38% 90% 44% $ 56,560,456.30 GSM Golden State Mining 0.009 13% 29% 13% -25% 13% $ 2,514,335.67 NSM Northstaw 0.036 0% 9% 82% 123% 128% $ 11,328,677.61 GSN Great Southern 0.027 4% 8% 50% 59% 80% $ 25,916,911.54 VAU Vault Minerals Ltd 0.395 0% -1% 8% -5% 20% $ 2,755,001,719.71 THR Thor Energy PLC 0.008 -20% -20% -30% -53% -38% $ 6,397,108.52 CDR Codrus Minerals Ltd 0.03 7% -14% 76% 0% 76% $ 6,202,031.37 MDI Middle Island Res 0.02 0% -9% 54% 18% 67% $ 5,864,679.42 WTM Waratah Minerals Ltd 0.275 -5% 0% 83% -20% 77% $ 66,550,995.81 POL Polymetals Resources 0.78 7% -3% -11% 184% -2% $ 214,250,941.60 RDS Redstone Resources 0.004 0% 33% 33% -11% 60% $ 4,137,069.42 NAG Nagambie Resources 0.016 0% 7% 0% 100% -11% $ 12,852,837.50 BGL Bellevue Gold Ltd 0.855 -7% -3% -24% -53% -24% $ 1,321,311,865.77 GBR Greatbould Resources 0.062 0% 0% 29% 24% 44% $ 57,992,501.10 KAI Kairos Minerals Ltd 0.0255 6% -12% 89% 219% 113% $ 65,772,804.73 KAU Kaiser Reef 0.18 0% 3% 9% 4% 13% $ 109,806,037.75 HRZ Horizon 0.048 0% -2% 4% 30% 20% $ 144,443,308.00 CDT Castle Minerals 0.077 -3% 3% 28% -36% 28% $ 9,280,765.60 RSG Resolute Mining 0.635 -2% 2% 57% -2% 61% $ 1,405,599,368.58 EVN Evolution Mining Ltd 7.3 -2% -5% 31% 78% 52% $ 15,097,934,010.64 CXU Cauldron Energy Ltd 0.01 0% 25% -18% -58% -14% $ 17,911,610.07 DLI Delta Lithium 0.165 10% -3% -3% -25% -3% $ 121,812,104.64 ALY Alchemy Resource Ltd 0.005 -9% -9% -29% -38% -29% $ 5,890,381.28 NH3 Nh3Cleanenergyltd 0.053 -20% 66% 194% 308% 194% $ 34,366,798.69 OBM Ora Banda Mining Ltd 0.69 8% -21% -9% 60% 6% $ 1,318,672,891.90 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.009 0% 0% 0% -48% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.45 2% 18% 67% 137% 96% $ 1,179,899,633.70 MAT Matsa Resources 0.078 8% 20% 95% 212% 123% $ 56,950,659.51 ZAG Zuleika Gold Ltd 0.02 25% 33% 67% 18% 54% $ 13,353,838.69 GML Gateway Mining 0.027 2% 0% 23% 13% 29% $ 10,220,507.38 SBM St Barbara Limited 0.3 7% 3% 20% 33% 33% $ 330,268,134.01 SBR Sabre Resources 0.01 11% 25% 25% -29% 0% $ 3,550,157.40 STK Strickland Metals 0.16 10% 7% 105% 65% 88% $ 384,601,165.49 CEL Challenger Gold Ltd 0.09 10% 8% 80% 80% 91% $ 188,075,086.20 GG8 Gorilla Gold Mines 0.395 10% -8% 72% 301% 52% $ 245,565,912.68 NST Northern Star 15.81 -3% -20% -8% 10% 2% $ 23,242,485,705.73 OZM Ozaurum Resources 0.07 -15% 13% 133% 37% 133% $ 16,037,131.11 TG1 Techgen Metals Ltd 0.022 0% -4% -35% -29% -37% $ 3,649,311.33 XAM Xanadu Mines Ltd 0.08 1% 1% 70% 36% 63% $ 181,005,683.93 AQI Alicanto Min Ltd 0.03 3% 3% -30% 36% -19% $ 25,444,289.28 KTA Krakatoa Resources 0.013 0% 8% 30% 18% 37% $ 10,076,742.33 ARN Aldoro Resources 0.33 -12% 6% 22% 284% -13% $ 64,182,702.15 WGX Westgold Resources. 2.64 -4% -10% 1% -3% -7% $ 2,575,861,363.53 MBK Metal Bank Ltd 0.011 -8% 0% -27% -41% -27% $ 4,974,589.98 A8G Australasian Metals 0.062 -7% -6% -17% -26% -22% $ 3,589,162.95 TAR Taruga Minerals 0.008 0% 0% -20% -11% -20% $ 5,710,032.46 DTR Dateline Resources 0.135 8% 82% 4400% 2150% 3757% $ 442,257,919.04 GOR Gold Road Res Ltd 3.15 -2% -5% 28% 74% 54% $ 3,454,749,010.80 S2R S2 Resources 0.067 -13% -1% -13% -48% 0% $ 33,496,064.49 NES Nelson Resources. 0.004 33% 33% 33% 33% 33% $ 6,515,782.98 TLM Talisman Mining 0.15 9% 15% -27% -45% -27% $ 27,306,450.61 BEZ Besragoldinc 0.048 -4% 2% -35% -8% -47% $ 19,943,854.32 PRU Perseus Mining Ltd 3.56 0% 2% 28% 32% 39% $ 4,942,010,454.55 SPQ Superior Resources 0.005 0% 25% -17% -50% -17% $ 11,854,913.63 PUR Pursuit Minerals 0.068 3% 84% -17% -55% -29% $ 6,732,042.50 RMS Ramelius Resources 2.72 11% 6% 17% 36% 31% $ 3,245,567,236.80 PKO Peako Limited 0.0025 -17% 25% -17% -38% -17% $ 3,719,354.90 RKB Rokeby Resources Ltd 0.014 -13% 100% 115% 180% 180% $ 22,888,055.96 A1G African Gold Ltd. 0.215 5% 30% 172% 760% 291% $ 115,913,153.84 NMG New Murchison Gold 0.017 0% -6% 70% 183% 89% $ 175,464,451.81 GNM Great Northern 0.02 18% 54% 33% 82% 43% $ 3,092,581.54 KRM Kingsrose Mining Ltd 0.039 8% 30% 15% -20% 11% $ 30,141,060.76 BTR Brightstar Resources 0.48 -13% 1% -9% 20% -4% $ 229,200,073.92 RRL Regis Resources 4.21 -5% -9% 40% 120% 65% $ 3,295,303,277.44 M24 Mamba Exploration 0.015 15% 7% -12% 25% 25% $ 4,722,649.76 TRM Truscott Mining Corp 0.052 6% 6% -37% -13% -33% $ 10,175,805.12 TNC True North Copper 0.36 -8% 3% -12% -93% -88% $ 49,042,373.38 MOM Moab Minerals Ltd 0.0015 50% 50% -25% -70% -25% $ 2,811,999.05 KNB Koonenberrygold 0.05 4% 67% 138% 213% 317% $ 54,328,777.15 AWJ Auric Mining 0.175 -3% 3% -44% -20% -49% $ 33,476,598.36 ENR Encounter Resources 0.28 -2% 19% 4% -56% -14% $ 137,167,887.73 SNG Siren Gold 0.053 4% 10% -4% -24% -18% $ 11,824,412.89 STN Saturn Metals 0.415 1% 19% 77% 118% 102% $ 197,653,895.46 USL Unico Silver Limited 0.455 3% 72% 133% 160% 133% $ 194,884,970.98 PNM Pacific Nickel Mines 0.024 0% 0% 0% 0% 0% $ 10,103,834.52 AYM Australia United Min 0.002 0% -33% 0% -33% -50% $ 3,685,154.97 HAV Havilah Resources 0.19 9% 9% -10% -7% -16% $ 64,458,696.24 SPR Spartan Resources 2.13 10% 5% 47% 63% 51% $ 2,847,436,934.76 PNT Panthermetalsltd 0.0095 -14% -37% 6% -62% -14% $ 2,858,593.21 MEK Meeka Metals Limited 0.14 4% -3% 27% 250% 82% $ 437,355,775.50 GMD Genesis Minerals 3.92 -1% -13% 28% 81% 59% $ 4,623,941,553.13 PGO Pacgold 0.064 2% -2% -16% -53% -15% $ 10,496,923.90 FEG Far East Gold 0.165 -11% 3% -6% -8% -8% $ 62,394,667.01 MI6 Minerals260Limited 0.11 -4% -4% -15% -31% -15% $ 227,406,666.63 IGO IGO Limited 5.36 11% 33% 2% -3% 12% $ 4,058,955,477.68 GAL Galileo Mining Ltd 0.165 3% 57% 6% -6% 32% $ 30,631,863.69 RXL Rox Resources 0.315 7% 15% 37% 142% 58% $ 238,911,961.28 PTN Patronus Resources 0.065 -3% -4% 14% 14% 33% $ 111,343,050.67 CLZ Classic Min Ltd 0.001 0% 0% 0% 0% 0% $ 3,017,699.21 TGM Theta Gold Mines Ltd 0.185 3% 32% 16% 42% 3% $ 167,649,324.30 FAL Falconmetalsltd 0.48 -5% 300% 256% 43% 317% $ 83,378,940.00 SPD Southernpalladium 0.645 10% 17% 29% 70% 8% $ 71,656,500.00 ORN Orion Minerals Ltd 0.01 0% 0% -29% -44% -33% $ 72,816,360.69 TMB Tambourahmetals 0.024 14% 4% -4% -46% 14% $ 4,302,377.14 TMS Tennant Minerals Ltd 0.006 -14% 0% -48% -70% -33% $ 7,461,232.91 AZY Antipa Minerals Ltd 0.565 2% -20% 71% 414% 117% $ 375,379,026.44 PXX Polarx Limited 0.01 18% 43% 11% -23% 54% $ 21,379,508.80 TRE Toubani Res Ltd 0.32 -4% 10% 137% 56% 88% $ 84,910,634.49 AUN Aurumin 0.105 6% 5% 64% 169% 59% $ 52,107,315.12 GPR Geopacific Resources 0.028 4% 27% 27% 31% 40% $ 89,109,029.13 FXG Felix Gold Limited 0.175 3% 30% 40% 265% 108% $ 74,610,077.87 ILT Iltani Resources Lim 0.23 21% 5% 5% 10% 12% $ 15,166,384.46 BRX Belararoxlimited 0.08 33% 33% -54% -67% -54% $ 12,959,918.16 TM1 Terra Metals Limited 0.066 10% 40% 128% 12% 136% $ 31,063,302.79 TOR Torque Met 0.23 15% 70% 297% 77% 334% $ 134,277,172.49 ARD Argent Minerals 0.023 5% 10% 28% 35% 35% $ 33,261,231.04 LM1 Leeuwin Metals Ltd 0.14 0% 8% 17% 71% 0% $ 14,112,893.76 SX2 Southgold Consol 5.7 -5% -26% 54% 0% 0% $ 829,044,349.56 UVA Uvrelimited 0.135 4% 57% 59% 35% 52% $ 24,076,000.13 VTX Vertexmin 0.21 -9% -19% -33% 169% 1% $ 44,379,912.94 Peregrine Gold (ASX:PGD) was among the top movers in the junior gold space, though the Mark Creasy-backed owner of the Newman gold project was largely running on the discovery of a high grade channel iron deposit on its ground. The project sits just 2km from BHP's Western Ridge and 13km from its Mt Whaleback deposit. First Au (ASX:FAU) lifted after starting a 3000m diamond drill program following mapping at its Nimba gold project in Liberia.
Yahoo
20-05-2025
- Business
- Yahoo
Northern Star completes $192m on-market share buyback
Australian gold mining company Northern Star Resources has announced the completion of its inaugural on-market share buyback programme, valued at A$300m ($192m). The programme, which began on 15 September 2022, resulted in the acquisition of 27.17 million shares at an average price of A$11.04 per share. The total number of securities on issue in the class of securities to be bought back stood at 1.43 billion in September 2022. The maximum number of securities proposed to be bought back was 39.52 million. The buyback initiative is part of Northern Star's strategic approach to capital allocation, aimed at maximising shareholder value. This approach includes a commitment to returning cash to shareholders, investing in organic growth that promises profitability and sustaining a robust balance sheet. The share buyback programme is designed to work in tandem with the company's dividend policy, which has a payout target of 20–30% of cash earnings. The board is assessing all forms of capital management to create 'superior' returns for shareholders. Northern Star managing director Stuart Tonkin said: 'I am pleased that we have completed our $300m share buyback programme. The average purchase price of $11.04 per share demonstrates our disciplined approach to value creation for all our shareholders.' In its first-quarter report, the company announced that it has a robust investment-grade balance sheet and is equipped to fund its organic growth strategy. Despite a dividend payment of A$279m, the net cash position remains at A$181m, with a total of A$1.12bn in cash and bullion in the March quarter of 2025. Earlier this month, Northern Star completed the acquisition of gold mining company De Grey Mining through a court-approved scheme of arrangement. "Northern Star completes $192m on-market share buyback" 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. Sign in to access your portfolio
Yahoo
06-05-2025
- Business
- Yahoo
Northern Star completes $3.25bn De Grey Mining acquisition
Australian gold miner Northern Star Resources has announced the completion of its acquisition of gold mining company De Grey Mining through a court-approved scheme of arrangement. Northern Star Resources agreed to acquire De Grey Mining in December 2024 in an all-share deal valuing the latter at around A$5bn ($3.25bn). Eligible De Grey shareholders have received 0.119 new Northern Star shares for each De Grey share they held on the record date of 28 April 2025. Additionally, Northern Star has issued shares to the sale nominee for those shareholders deemed ineligible or required to be withheld due to Foreign Resident Capital Gains Tax considerations. The sale nominee will sell these shares, and the net proceeds will be distributed to the affected shareholders as outlined in the De Grey Scheme Booklet. Northern Star managing director and CEO Stuart Tonkin said: 'The acquisition of De Grey is strongly aligned with Northern Star's strategy to generate superior returns for shareholders. We believe that Hemi will deliver a low-cost, long-life and large-scale gold mine in the Tier-1 jurisdiction of Western Australia, further enhancing the quality of our asset portfolio and ability to generate cash earnings. 'The Northern Star team looks forward to integrating Hemi into our portfolio and building strong relationships with the Kariyarra people, other Traditional Owners in the Hemi project area and additional Hemi project stakeholders.' As part of the acquisition process, De Grey has initiated the procedure to delist from the Australian Securities Exchange (ASX). The company's shares, which have been suspended from trading since the scheme became effective, will be removed from the official ASX list, and their official quotation will be terminated after the close of trading today. "Northern Star completes $3.25bn De Grey Mining acquisition" was originally created and published by Mining Technology, a GlobalData owned brand.
