St Barbara’s share price plummeted to a 7 year low, dropping 35.18% after they released their quarterly report on Tuesday. The shares dropped from $0.68AUD to just $0.46AUD. Production was down almost 26% and costs up 34.8% from last quarter. Currently it costs St Barbara $4/oz more to produce gold than they receive from selling it.
IGO chief executive Peter Bradford has passed away at 64. Bradford began working in the mining industry in 1979 and has been a supporter of clean energy and climate change. He was an active mentor for the Women in Mining WA organisation and a committee member of CEOs for Gender Equity Inc.
St Ives has resumed operations after a worker was killed last week. The worker died at the Hamlet underground mine near Kambalda. The tragic incident was one of two mine site deaths last week, with a second occurring at a Pilbara mine site last Thursday.
Rox Resources has announced significant results from its Reverse Circulation drilling at their Mt Fisher Gold Project. Managing director Alex Passmore said these results continue to confirm the “strong prospectively of the highly under-explored Mount Fisher Gold Project.”
Raiden Resources’ Mt Sholl maiden diamond drilling to be completed over the next two days ahead of schedule. Of their completed holes, all have intersected visual Nickel and Copper mineralisation. The tenements are located 22km southeast of Karratha in the Pilbara region.
The S&P/ASX200 has finished the week at 6,676.80 points today, falling 0.80% from yesterday. The All Ordinaries finished much the same at 6,869,90, falling 0.71% from yesterday. Gold rounded out the week at $2,588.81oz t.