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Investing Guides
Altair Minerals Limited (ASX: ALR) – Trading Halt
January 27, 2025
Description
The securities of Altair Minerals Limited (‘ALR’) will be placed in trading halt at the request of ALR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 30 January 2025 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Altair Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
13h
Mako Gold Limited (ASX:MKG) - Suspension of Trading and Delisting from ASX
Aurum Resources Limited (ASX:AUE) ("Aurum") advises that the securities of Mako Gold Limited (ASX:MKG) ("Mako") are due to be suspended from quotation on the ASX from the close of trading on Monday, 3 February 2025. This follows the compulsory acquisition notice released by Aurum on Friday, 24 January 2025, subsequent to its successful takeover offer for Mako.
Delisting of Mako shares from the ASX is expected to occur on the third business day following the suspension date.
ACCEPT THE AURUM OFFER
The offer expires at 7:00 pm (Sydney time) on 31 January 2025.
Mako shareholders who have not yet accepted Aurum's takeover offer are encouraged to do so as soon as possible. If you do not accept the offer and your Mako shares are compulsorily acquired by Aurum, your receipt of bid consideration will be delayed.
ACCEPTANCE FORM
Should you require an acceptance form for the offer, please contact the Offer Information Line on 1300 408 784 (within Australia) or +61 2 8072 1489 (from outside of Australia), Monday to Friday between 8:30 am to 7:00 pm (Sydney time).
Click here for the full ASX Release
This article includes content from Aurum Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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15h
Quarterly Activities Report for Quarter ended 31 December 2024
New Murchison Gold Limited (ASX: NMG) (“NMG” or the “Company”), a Western Australian gold exploration and development Company, is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ending 31 December 2024 (“Quarter” or the “Reporting Period”).
HIGHLIGHTS
Drilling and Estimation
- New very high-grade gold mineralised zones encountered by drilling in the footwall of south eastern zone (SEZ) lodes.
- Infill drilling during the quarter confirmed gold mineralisation modelling and upgraded resource confidence in many areas.
- New Mineral Resource Estimate released showing an increase for the Crown Prince Deposit at Garden Gully with a 3G% increase in the Indicated classification estimate to 226koz at 4.6 g/t gold (Au).
- The total Mineral Resource has grown by 16% from the February 2024 estimate, to 279koz at 3.9 g/t Au.
Pre-development activities
- NMG is close to announcing a detailed Feasibility Study (environmental, social, mining, metallurgy, geotechnical, hydrogeological) to support a robust value proposition for mining Crown Prince.
Westgold Strategic Alliance
- New Murchison Gold and Westgold entered into an Ore Purchase Agreement (OPA) which will underpin production form NMG’s Crown Prince deposit near Meekatharra, Western Australia in 2025.
- Subject to final regulatory permitting, under the OPA, NMG will commence mining from a new open pit operation at Crown Prince with a targeted commencement date of mid-2025.
Corporate
- Cash balance of $2.749 million cash at the end of December.
- Following the ongoing exercise of in the money options (March 2025 expiry) cash balance as at 24 January (i.e. the end of the week before this release) was $3.951 million
- Company is well funded to pursue ongoing technical programs and commercialisation options at Crown Prince.
During the Quarter, the Company continued to advance the Crown Prince Project (M51/886) part of NMG’s broader Garden Gully tenure package (Figure 1).
NMG completed resource infill drilling in October 2024 which confirmed mineralised zones and improved gold grades in some areas. These zones are within the conceptual open pit for the Crown Prince deposit and subsequently added to the updated Mineral Resource Estimate (MRE) in November 2024.
The November 2024 updated MRE at the Crown Prince Deposit (Crown Prince) substantially increased the total Mineral Resource by 16% from the February 2024 estimate, to 279koz at 3.9g/t Au. This included a 39% increase in the Indicated classification estimate to 226koz at 4.6g/t Au.
NMG entered into a binding agreement in December 2024 with Big Bell Gold Operations Pty Ltd (BBGO), a wholly-owned operating subsidiary of Westgold Resources Limited (Westgold) in relation to the purchase of gold ore from the Crown Prince deposit.
Commenting on key outcomes for the Quarter, NMG CEO, Alex Passmore said:
“We continued to be very active during the December quarter meeting a number of key milestones for Crown Prince pre-development. The completion of the 2024 drilling program delivered a material increase in the Mineral Resource Estimate at Crown Prince underpinning the detailed feasibility study work underway to advance the Crown Prince Gold Project.
The ore processing agreement with Westgold signed in December is anticipated to deliver significant value for New Murchison Gold and Westgold and we look forward to working collaboratively in it a success.
Look ahead, we anticipate a steady stream of news flow in the first half of 2025 as we continue to commercialise Crown Prince for the benefit of our shareholders.”
Click here for the full ASX Release
This article includes content from New Murchison Gold Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18h
December 2024 Quarterly Activities & Cashflow Reports
Mount Hope Mining Limited (ASX: MHM – ‘Mount Hope Mining’ or ‘the Company’) is pleased to provide an update on its quarterly activities for December 2024.
Highlights
Successful ASX listing
- Listed on the Australian Securities Exchange (ASX) following the successful completion of an Initial Public Offering (IPO) raising $5 million.
Orientation Soil Survey Completed
- Orientation soil geochemical survey completed, with results anticipated imminently.
Geophysical Targeting Commenced
- Southern Geoscience Consultants (SGC) engaged to refine existing targets and plan on-ground geophysical surveys commencing February.
Mount Hope Mining Managing Director Fergus Kiley commented:
“The December quarter has been transformative for Mount Hope Mining, headlined by our successful IPO listing on the ASX raising $5 million.
“We also completed an orientation soil geochemical survey using three complementary sampling methods, with results expected by the end of January 2025. These results will guide our exploration efforts as we refine our existing advanced projects and define new targets across this underexplored and mineral-rich region.
“Southern Geoscience has been engaged to undertake a detailed review of existing geophysical datasets, including reprocessing the 2021 airborne electromagnetic survey. This work will enhance our understanding of the project’s structural controls for mineralisation and identify further high-priority exploration areas.
“Our 175km² Mount Hope Project, located in the prolific Cobar mining district of NSW, offers strong potential for high- grade copper and gold discoveries. With a clear, data-driven strategy and solid local infrastructure, we are well-positioned to unlock its value, build on the district’s historic success, and deliver shareholder value through potential further discoveries.
“I would like to thank our shareholders for their support during the IPO and look forward to keeping the market updated as we progress exploration at the Mount Hope Project.”
Figure 1: Mount Hope geological map with operating and historic mines & current resources.
Orientation Soil Geochemical Survey
In December 2024, Mount Hope Mining completed an orientation soil geochemical survey across two targets within the Mount Hope Project area (Figure 2). The survey was designed to assess and refine the geochemical sampling techniques considered most effective for detecting buried mineralisation in this region.
The Company will test multiple sampling types to determine the optimal sampling technique for each of the geological terrains. Results from the survey are expected to be finalised imminently.
Click here for the full ASX Release
This article includes content from Mount Hope Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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21h
Robert Sinn: Gold to Benefit as US-China Relations Face Turbulence
The last decade has been tumultuous, with widespread instability deepening the divide between east and west.
In his talk at this month's Metals Investor Forum in Vancouver, BC, Robert Sinn, senior content creator at Goldfinger Capital, examined the current macroeconomic situation and the role he expects gold to play in it.
Highlighting how China's strong gold buying has supported the yellow metal's price, he also spoke about how Donald Trump's return to the White House could impact relations with the Asian nation.
China and US economies in chaos
In the weeks before his inauguration, Trump discussed several issues with his counterparts around the world. Perhaps most notable was his talk with Chinese President Xi Jinping. According to tweets and reports from the Chinese government, the discussion between the global rivals was friendly and positive.
The messaging was encouraging to financial markets and helped strengthen the US dollar.
However, Sinn told the audience that he doesn't see this positivity lasting long.
“I don’t think it's going to be like this forever. I think that they’re going to definitely go head-to-head, toe-to-toe — try to get the best deal for their country,” he said, noting that an adversarial turn is likely.
Describing the two economies, Sinn said they are both volatile, but at different ends of the spectrum.
China is still reeling from its economic implosion and dealing with high levels of debt and deflation, but Sinn believes the situation is much worse than the data being presented to the world states.
“They can’t really fake up the bond market that much. So this is a telling story, an economy that is in a downturn — there’s just too much debt, and price levels are falling and so are bond yields,” he said.
Sinn also pointed out that the Chinese economy is very unbalanced. The country has the largest banking system in the world, US$50 trillion larger than the US. However, it still hasn’t recovered from the implosion of its real estate sector, and the recovery is slow because it’s a highly regulated market with strict government controls.
Meanwhile, in the US, Sinn noted that following the US Federal Reserve’s 50 basis point interest rate cut in September 2024, bond yields came off their longest inversion in history, which lasted 24 months.
He also explained how this came alongside an overvalued US dollar.
“It’s actually the most overvalued it’s been since 1985, so this is like a 40 year high in terms of its valuation. You can go back to 1985 and what happened shortly after — it got super overvalued and hit up a red-light level. It fell very sharply because of what they did in Manhattan at the Plaza Hotel,” Sinn said.
He was referring to the Plaza Hotel Accord in September 1985. At that time, representatives from several European nations and Japan met in New York with members of the US Department of the Treasury to discuss the depreciation of the US dollar and to correct trade imbalances between nations.
The move was largely successful, and trade was balanced over the next five years.
Sinn suggested that something similar may be about to occur, leading to considerable uncertainty. The US is further challenged by a massive US$2 trillion deficit and US$7 trillion worth of debt that needs refinancing in 2025.
However, he expects the US to extend the 2017 tax cuts made under Trump. This will require the US to commit to more deficit spending, and Sinn sees a squeeze on the dollar coming.
“Trump sees this problem, his team sees this problem, and one of their key objectives is to weaken the dollar during his term. Trump is pro-growth; he wants to see the stock market go up and the economy strong,” he said.
Trump’s promises to raise tariffs on China have countered this, and Sinn doesn’t see this happening — at least not immediately. “China and the US need each other,” he noted.
Both nations have cards to play. The US knows the position of the Chinese economy, and the threat of US tariffs may be enough to get the country to the table on new agreements.
“Trump knows he has the upper hand, but he also knows he can’t set the bomb off, because it will hurt him too,” Sinn said. “He wants to put 60 percent tariffs on the table. That’s the starting point; if that happens, it’s going to be a mess.”
Gold is China’s trump card
As a monetary metal, gold is often linked to what happens through the rest of the financial system.
When yields rise, gold falls, and when the dollar rises, gold falls. However, recently the price of the yellow metal has diverged from these traditional influences. Sinn credits this divergence to strong buying from central banks, most notably China, but also other BRICS nations. He believes China may be buying more than it is reporting.
“So China’s official stockpile is 2,300 metric tons, about US$200 billion of gold. I would estimate that their real stockpile is probably closer to 6,000 or 7,000 metric tons, near parity with the US,” Sinn said. He explained that China ramped up its purchases in 2022 following Russia’s invasion in Ukraine and the sanctions that followed.
It’s unclear what China plans to do with its huge gold stockpile, but Sinn thinks Trump may force its hand.
“To get out of this mess, China is going to have to do something with its currency. They’re going to either have to revalue higher or devalue. It’s not that clear what they’re going to do,” he said.
The preference for China isn’t to devalue the yuan, and it’s Sinn’s belief that the Trump administration doesn’t want that either, as it would further deepen the existing crisis. So what is the plan?
“They’re going to revalue the yuan higher against the dollar and they’re going to do a partial peg to gold,” he said.
However, Sinn also explained that China needs to be cautious when doing this, as it could create further problems for debtors and push the price of gold higher. To avoid this, the shift in yuan valuation would have to be accompanied by a massive stimulus injection and force inflation into the economy.
“It’s the big button on the table that you press when you have no other choice, and it will appease Trump,” Sinn said.
He thinks this also explains the rise in the gold price over the past month and the last couple of years.
Sinn expects China’s gold buying to continue as the country works through trade negotiations with the new Trump administration — and that the story is far from over.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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22h
Chris Vermeulen: Gold Short-term Price Target, Plus Key Trend I'm Riding Now
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, joined the Investing News Network to share his near-term outlook for gold, also explaining what he's doing to preserve wealth in a year that promises to be "very, very crazy for all asset classes."
"I think the key really this year is to be happy with not losing money," he said.
"It sounds so boring, but if what unfolds is what I think is going to unfold, it's either you lose 30 or 50 percent of your wealth, (or) you sit in cash ... or you take advantage of a strategy that can benefit from falling markets. I'm all about — avoid the chaos and continue to earn some interest, let everything reset. And take advantage of some of the falling prices."
Watch the interview above for his full thoughts on those and other topics. You can also click here to view our Vancouver Resource Investment Conference playlist on YouTube.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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22h
Jeff Clark: When Will Gold Stocks Move? Data Says Downcycle Ending Soon
Jeff Clark, editor of Paydirt Prospector, told the Investing News Network that he's bullish on gold in 2025, saying US$3,000 per ounce is "easily" in the cards for the yellow metal.
But what about gold stocks? The current gold stock downcycle has now lasted 4.3 years, which Clark said makes it the second longest ever. In his view, that suggests it's due to end soon.
"We are in a bull market — now it's simply a waiting game until the stocks begin to catch up," he said.
Watch the interview above for from Clark on gold, gold stocks and the exploration space.
You can also click here to view our Vancouver Resource Investment Conference playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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