Vault Minerals

New goldminer Red 5 has told the market it is on track to hit commercial production at King of the Hills before the end of the year, with merger and acquisition discussions still on the table.

Leonora centrepiece St Barbara has copped a big loss ahead of its merger with Genesis Minerals, as new miner Red 5 pushes its case as a “logical” processing hub for players in the prominent gold province.

ASX-listed goldminer Red 5 has announced chair and director Kevin Dundo will resign after 13 years with the company.

Mid-tier goldminers Westgold Resources and Red 5 have both hit expected production targets after grappling with labour shortages and cost pressures during the period.

Competition for old and new value gold plays in WA is running hot again.

Simone Grogan and Jack McGinn discuss activity in the mid-tier of WA's gold sector over the past year.

UPDATE: Silver Lake Resources has confirmed itself as the buyer of a substantial slice in Leonora gold miner Red 5, labelling the move as a 'strategic investment'.

Andrea Sutton, the former head of Rio Tinto’s majority-owned uranium unit, has been revealed as the new chair of the state-owned Water Corporation.

Gold producer Red 5 appears on course for a record-breaking year, following the release of its December 2023 quarterly report.

Mid-tier gold producers Silver Lake Resources and Red 5 have announced their intention to merge, with a combined entity to have a market cap of about $2.2 billion.

Gold producer Silver Lake Resources recorded solid gains during the first half of the 2024 financial year, amid its planned merger with fellow mid-tier entity Red 5.

Revenue at goldminer Red 5 increased by 77 per cent in the first six months to December 31 2023 as the listed company moves closer towards its proposed merger with Silver Lake Resources.

Gold producers Silver Lake Resources and Red 5 Resources have continued to deliver ahead of their likely merger in June, with both mid-tier companies performing strongly throughout the March 2024 quarter.

Shareholders of Silver Lake Resources have given the green light for the goldminer’s proposed merger with fellow mid-tier company Red 5.

Australian gold production fell nine per cent in The March quarter, weighed down by the impacts of severe storms which hampered output in Western Australia and other gold mining regions.

The merger between mid-tier gold miners Silver Lake Resources and Red 5 is officially finalised, following news the scheme of arrangement between both companies is now legally effective.

Rising gold producer Red 5 has finalised changes to its board and management team, following its successful merger with Silver Lake Resources earlier this month.

Newly installed Red 5 boss Luke Tonkin and Spartan Resources counterpart Simon Lawson have both elected to sell off shares, amid a busy month for their respective companies.

The value of gold rose 15 per cent in local dollar terms over the first six months of 2024, hitting record levels driven by geopolitical tensions and wavering economic growth indicators.

Red 5, Ramelius Resources and Regis Resources have each unveiled major milestones ahead of company reporting season, as bumper gold prices drive records.

Two WA gold companies have had a notable win over the state’s Valuer-General after the Supreme Court criticised the way in which mining leases have been valued.

GOLD WRAP: Rain fallout for Gold Road; enlarged Red 5’s consolidated output above 450,000 ounces; and Westgold prepares for Karora.

The combined value of Western Australia’s listed companies fell to $349.7 billion last financial year, propped up by the resurgent performance of the state’s gold sector.

Pilbara gold developer De Grey has refused to comment around speculation that it could be the target of rival interest, saying it is focused on developing its Hemi project.

Goldminer Red 5 has flagged a name change and directors’ pay rise after its merger with Silver Lake Resources.

GOLD WRAP: Westgold Resources, Red 5 and Genesis Minerals, each at the heart of gold’s merger flurry, have unveiled last year's financial results.

Junior explorer Asra Minerals has sold its Tarmoola pastoral lease to goldmining mid-tier Red 5, in a move designed to support its upcoming drilling and exploration campaigns.

The number of women running ASX300 companies has stagnated in the past year with a survey also showing multiple WA companies have no women in their executive leadership group.

Vault Minerals will spend $80 million to expand the processing facility at its King of the Hills mine near Leonora by 20 per cent, to more than 6 million tonnes of ore per annum.

Perth Airport-based Macmahon Holdings has won a seven-year contract worth $463 million for work at the Awak Mas gold project in Indonesia.

Ascot-based GR Engineering Services has secured an EPC contract valued at $75.1 million for work at Vault Minerals’ King of the Hills gold project.

A new record Australian dollar gold price greeted local producers this morning, as companies including Vault Minerals and Ramelius Resources outlined their growth ambitions.