At day two of the Diggers and Dealers conference in WA, some of Australia’s key mining companies presented.
In the mix was Fortescue Metals, Gold Road Resources, Ramelius Resources, Regis Resources, Resolute Mining and Sandfire Resources.
Fortescue Metals – (ASX: FMG)
Speaker: CEO Elizabeth Gaines.
Share Price: $7.38, up 4.02 per cent.
Market Cap: $21.83 billion.
Fortescue highlighted its fourth-quarter success, shipping 46.6 million tonnes, making up 167.7 million tonnes for the year.
The company detailed the first transportation of ore on its billion-dollar rail project is set for the end of next year. Additionally, the multi-billion-dollar Iron Bridge Magnetite Project is in its second phase of development. The first ore from the project is expected in 2022.
Gold Road Resources – (ASX: GOR)
Speaker: CEO and Managing Director Duncan Gibbs.
Share Price: $1.40, down 0.71 per cent.
Market Cap: $1.24 billion.
Gold Road is Australia’s newest gold producer and had its first gold produced in June. It has a 50:50 Joint Venture at Gold Fields.
The company will focus on its Yamarna project as it has potential with 150 targets defined and an added 400,000 ounces to reserve on the joint venture.
Ramelius Resources – (ASX: RMS)
Speaker: Managing Director Mark Zeptner.
Share Price: $1.16, up 4.48 per cent.
Market Cap: $733.53 million.
Ramelius is set to produce one million ounces of gold over the next five year across its holdings in WA. During the 2019 financial year the company produced 200,000 ounces of gold and this is expected to increase to 205,000-225,000 next year.
Exploration is in continuation at the Mt Magnet, Vivien and Edna gold mines. Mining works are expected to begin in August this year at the Marda gold mine and discussions on mining commencement at Tampia will occur at the end of the year.
Regis Resources – (ASX: RRL)
Speaker: CEO and Managing Director Jim Beyer.
Share Price: $5.65, up 0.8 per cent.
Market Cap: $2.85 billion.
Regis Resources highlighted it’s still an industry leader in low-cost production globally with consistent resources and reserve replacement. It has 8.2 million ounces in resources and 4.0 million ounces in reserves.
The company had a record annual gold production of 363,418 ounces with AISC of $1,029 per ounce for 2019 financial year. It is in a strong financial position with $205 million cash and bullion with no debt.
Regis is expecting a growth capital of $62 million for the 2020 financial year. The company’s main focus will be on its underground mines for this financial year.
Resolute Mining – (ASX: RSG)
Speaker: CEO and Managing Director John Welborn.
Share Price: $1.90, down 2.06 per cent.
Market Cap: $1.47 billion.
Resolute’s big-ticket during its presentation at the conference is its recent acquisition of Toro Gold. As part of the purchase, Resolute will obtain the Mako mine in Senegal which produced 160,000 ounces of gold during the 2019 financial year.
Other prominent mines which Resolute has interest in is Syama in Mali which has an annual production target if 300,000 ounces of gold. As well as Ravenswood located in Australia which has an annual target production of 200,000 ounces of gold and Bibiani in Ghana which is set to produce 100,000 ounces of gold per year.
Sandfire Resources – (ASX:SFR)
Speaker: CEO and Managing Director Karl Simich.
Share Price: $5.86, down 4.56 per cent.
Market Cap: $979.69 million.
During Sandfire’s presentation, the company spoke of its push to capitalise on the growing copper market, largely driven by the increasing demand for electric vehicles.
The company has dedicated between $40-50 million to exploration funding during the 2020 financial year and production targets lie between 70,000-75,000 tonnes of copper and 38,000-42,000 ounces of gold.