PRECIOUS METALS

Gold mining booty for Kaiser as exploration continues

A1 operation generating cash flow as diamond core drills work away

Gold mining booty for Kaiser as exploration continues

The circa $3.8 million of ‘free cash' from A1's output of 2800 ounces increased Kaiser's cash position at the end of the quarter by $1.8 million to $6.9 million, despite operating two diamond rigs for the majority of the quarter.

As well as at its mine, Kaiser is exploring the Maldon district where more than 1.7 million ounces have historically been mined at an average 28 grams per tonnne.

Kaiser's Maldon ground includes the Union Hill decline, where work included underground 3D stope surveying.

Kaiser said some historical unsurveyed stopes would now need to be accounted for and "depleted from the resource estimation models being undertaken".

Elsewhere exploration results were generally described as encouraging.

Meanwhile, despite the cash generation, so far as the market is concerned the stock remains very much an exploration play.

Shares in Kaiser were up 1% to 20.7c in afternoon trade, capitalising the company at $29 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.