Australian gold miners report resource updates and new funding

Several Australian mining companies have announced significant developments in their gold production and exploration activities.

Kaiser Reef has updated the resource profile for its Henty gold mine in Tasmania, reporting a mineral resource of 429,000 ounces and a new ore reserve of 198,000 ounces. This update maintains the operation’s six-year mine life, with the company targeting a consistent annual production rate of 30,000 ounces.

In Western Australia, Forrestania Resources has secured an ore purchase agreement with First Au to process up to two million tonnes of ore from the Gimlet project over 24 months. The company has also established supply chain agreements with Orica for sodium cyanide and SGS Australia for laboratory services to support its Lake Johnston and Edna May processing hubs.

Gateway Mining has raised $45 million through a share placement, with Jupiter Asset Management contributing $20 million. The funds are earmarked for an aggressive exploration campaign at the Yandal gold project, following high-grade drill results at the Cowza prospect.