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- Goldie Guidance Downgrade & MD Departure
Goldie Guidance Downgrade & MD Departure
Is there a pending North American trade war?
The Pre-Start
Trump imposes 25% tariffs on Canada & Mexico and 10% tariffs on China (9news) Plenty to talk about on this regarding growth, inflation, trade wars etc.
Westgold have downgraded FY25 guidance by 70koz. Updated guidance is 330-350koz at AISC $2,400-$2,600/oz (WGX)
Terry Holohan is leaving his position as Resolute CEO & MD with immediate effect, as acting CEO Chris Eger formally assumes the CEO role (RSG)
Polymetals provided an update on its Endeavor Ag-Zn mine restart activities, with surface & UG works progressing to plan, path to H125 cashflow on track (POL)
Paladin signed a mutual, benefits agreement with the Buffalo River Dene nation, the indigenous peoples associated with Patterson Lake (PDN)
Current Alpha HPA COO Rob Williamson will assume the role of MD, with current MD Rimas Kairaitis to assume role of Chief Commercial Officer (A4N)
Galan continued Phase 1 operational works at HMW, with ~7.9kt LCE inventory in evaporation ponds and $3.6m cash at end of Dec Q (GLN)
New Murchison Gold released a maiden OP ore reserve for Crown Prince of 140koz at 4.8g/t Au & feasibility study generating post-tax NPV8 $115m & 579% IRR at $3,750/oz gold price, commencement of mining expected Jun ‘25 (NMG)
True North Copper finished the Dec Q with $19m cash post VA & recap raise, Cloncurry project on C&M while an extensive exploration program is undertaken (TNC)
Centaurus’ Jaguar nickel project selected to join Brazil climate and ecological transformation investment platform (CTM)
Beacon Minerals produced ~6.8koz at a cash cost of $2,891/oz, finishing the Q with $16.7m cash (BCN)
Tribune Resources is undertaking an on-market buyback of up to 10% of its shares on issue (TBR)
Santana Minerals appointed Emma Scotney as a Non-Exec Director (SMI)
Leo Lithium completed the payment of its distribution to shareholders (LLL)
Ubique AM increased its stake in IGO to ~6.3% (IGO)
High Grade It
ADQ and Orion Resource Partners to establish US$1.2bn Abu Dhabi-based JV to invest in and secure the supply of strategic & critical minerals (PR Newswire)
Tanya Plibersek’s plan to revive the second phase of Nature Positive laws are facing stiff opposition from the resources sector (MNN)
Norton Gold Fields sacks WA employee after claims of corruption ‘substantiated’ by investigation (West)
BHP awarded a $40m contract to progress proposed expansion of its copper smelting & refining facilities at Olympic Dam (Australian)
British Columbia-based Marimaca Copper looking to join its fellow Canadian, Capstone Copper by joining the ASX this year (MNN)
Homesick FIFO workers stir talk of Pilbara unionisation (AFR)
Gold prices surpassed the key $2,800 mark for the first time on Friday, fuelled by a rush to safety following Trump's tariff threats (Reuters)
Mali hostage ordeal ends in exit for Resolute Mining CEO Terry Holohan (West)
Some super handy resources from the financial modelling wizards at Model Answer. Hit them up!
Wheelin’ n Dealin’
Astral & Maximus to merge via recommended takeover offer to consolidate ground around the 1.2Moz Mandilla gold project (AAR)
Blackstone Minerals in trading halt regarding a proposed merger (BSX)
Dataroom has written of EMR Capital having a struggle on its hands as they look to convince a buyer to part with US$3b for Kestrel in a tough coal market (Australian)
Expect more global mining deals, says former Anglo American chief (AFR)
Strike Energy hasn’t ruled out an asset divestment as part of its strategic review, while new management prepared to meet with JV partner Hancock Prospecting (BN)
Red Hawk MD says Fortescue rival bid seems “unlikely” (MNN)
Aeris Resources is considering sale options for its Barbara copper project in north-west QLD (IQ)
Ora Banda and Hawke’s Point agreed to an extension to its $4m loan repayment while they finalise the royalty on-sale which will offset the amount owed (OBM)
Aeris renewed its existing ANZ facility for 6 months, now due 31 Jul as the company continues its refinancing process (AIS)
Poseidon shareholders approved the scheme to merge with Horizon Minerals last week, with the second court hearing scheduled for this Friday 7 Feb (HRZ)
Pure Resources have signed a non-binding HOA with SSH Group to accelerate development of the Reedy Creek garnet project (PR1)
Rattlin’ the Tin
Predictive are in trading halt pending a capital raising (PDI)
Medallion Metals received commitments to raise $6.5m, Alkane to emerge as a 6.3% shareholder (MM8)
Lion Selection also invested $1m in the raise (LSX)
Black Cat are tipping $1m into Dreadnought. Funding will secure first right to negotiate on the gold development of Star of Mangaroon (DRE)
In the Weeds
Which industries in Canada, Mexico and China are affected the most by the Trump tariffs (MSNBC)
Minotaur Capital’s Armina Rosenberg reckons DeepSeek development cost probably 100 times the sticker price (AFR)
Is Africa getting riskier? (MNN)
Should investors worry about tariffs? (Livewire)
How does a nation as rich in minerals, energy and skills as Australia lose its standing as a global resources hotspot? (Australian)
Investment in the energy transition exceeded $2 trillion in 2024, but growth has slowed (MNN)
Today’s Top Tweet
ASX Gold Stocks
$BGL $WGX $OBM $PNR $CYL $RRL $VAU $GMD $NST $GOR $RMS $CMM @agcmoneyofmine— BuyLowSellHigh (@BLSHigh)
12:13 AM • Feb 2, 2025
Some good gold comps in this tweet…but more importantly…Ally GC maintaining priority tagging status in all gold related posts.
Devil’s in the Detail
Anyone wanna take a punt on how many of the 1,046 ASX Announcements released last Friday were after market quarterly reports?

Market Index ASX Announcements Feed
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