All in Business

Zenith Minerals gets access to new high-grade bedrock gold and lithium targets at Split Rocks

Zenith Minerals (ASX: ZNC) has executed an option agreement with the owners of the Dulcie Heap Leach Gold Operation, providing the Company with an exclusive right to explore for bedrock gold mineralisation beneath the large laterite-rich gold cap currently being mined and treated on leases located contiguous with Zenith’s Split Rocks project licences, located in the Forrestania greenstone belt, Western Australia.

Crunch time as global gold sector consolidation plays out in Perth

Next Friday, Doray Minerals shareholders will be asked to approve a merger with Silver Lake Resources to create a $600 million, two-mine ASX-listed gold producer with pro-forma production of 240,000 ounces a year and a resource base of 4.6 million ounces. This merger of two Perth-based companies is the biggest response yet by ASX-listed stocks to global investor interest in industry consolidation.

Doray Minerals strikes $15m deal to sell Andy Well, Gnaweeda gold projects to Westgold Resources

Doray Minerals (ASX: DRM) has delivered shareholders an early Christmas present with the signing of a binding term sheet to divest the non-core Andy Well and Gnaweeda gold projects to Westgold Resources (ASX: WGX) for $15 million in cash and shares. The deal replaces an earlier announcement arrangement with Canadian group Galane, which has been terminated. Doray expects completion of the deal with Westgold to be completed in February. The proposed deal has no impact on Doray’s agreed merger with Silver Lake Resources (ASX: SLR).

Norwest lists on ASX, begins drilling at Warriedar

Australian Mines spin-out Norwest Minerals has hit the ground running after listing on the ASX last week, with the commencement of a drilling program at its Warriedar gold project south of Mt Magnet in Western Australia. Norwest raised $6.6 million under its initial public offering, and understanding that one of the best ways to create wealth for shareholders is through exploration success, it immediately commenced an RC program at Warriedar.

Doray, Silver Lake bounce back as market takes a closer look at gold merger

The gold sector focused on Doray Minerals and Silver Lake Resources this week after the two WA-based gold producers announced a nil-premium merger to create a $400 million mid-tier ASX-listed company with pro-forma production this year of 240,000 ounces of gold and gold equivalents. After some initial selling by investors, Doray and Silver Lake returned to the winner’s list on Friday to end the week on a high.

Ventnor shares hit 5-year high on maiden silica mineral resource news

Ventnor Resources (ASX: VRX) has come from nowhere to become a market darling, with its share price more than doubling over the past month as investors warm to the Perth company’s silica story. The news was rounded out by the announcement of a maiden resource for its Arrowsmith North prospect north of Perth. Ventnor shares, at 6.6c a month ago, last traded at 13c after reaching 17.5c last week - levels not seen since late 2013.