Genesis of Grand Gold Merger Unveiled
Genesis Minerals has won the hand of struggling Dacian Gold in an all-share takeover worth $111 million, expanding its footprint in the Leonora area of WA’s goldfields.
Read MoreGenesis Minerals has won the hand of struggling Dacian Gold in an all-share takeover worth $111 million, expanding its footprint in the Leonora area of WA’s goldfields.
Read MoreAction in the local gold space, with two weak members of the herd targeted by an aggressive smaller predator in a potential three-way merger with a total value of more than $1bn.
Read MoreThe past week has seen the Australian gold sector spring a leak, with three good producers revealing unexpected operational problems, catching investors on the hop.
Read MoreJust a few weeks after revealing its maiden ore reserve estimate for its Redcliffe Gold Project, Dacian Gold has revealed a significant upgrade in prospects at two key WA projects.
Read MoreRating on Dacian Gold is upgraded to Neutral with the target rising to $0.35 from $0.33.
Read MoreDacian Gold’s December quarter report showed production in line with a pre-release and costs -10% lower than expected. Underperform and 34c target retained.
Read MoreNot the news the market wanted to hear from Dacian Gold. Just as world gold prices sit near eight-year highs, Dacian has cut its outlook for 2020-21 gold production, news which sent the shares spiralling.
Read MoreA rising US dollar gold price is taking global gold equities higher and brokers note Australian gold stocks are lagging the move.
Read MoreDacian Gold has completed its recapitalisation via a $98m raising, and the broker has returned from restriction to set an Outperform rating, given the company’s credit risk, which previously had the broker on Underperform, has been materially reduced. Target 45c on dilution (previously 70c).
Read MoreBullion’s romp beyond the record $2000 an ounce level in Aussie dollar terms has prompted investors to take a closer look at the pantheon of ASX-listed local gold producers – despite some problems in the mid-tier that have tarnished the sector.
Read MoreNewbie gold producer Dacian (DCN) served up some shock back in early June when it told the market that it should forget about its Mt Morgans operation being a 200,000 oz a year producer for 10 years at a cost of $A1,000 an oz.
Read MoreCiti only initiated coverage with a Buy/High-Risk rating and a $3 target in May, about three weeks ago, so there will be a number of unhappy faces at the office. The company management has downgraded production guidance in a significant manner.
Read MoreDacian Gold has seen a 67% plunge in the value of its shares (to 51.5 cents) which emerged from a trading halt yesterday morning after a downgrade of production guidance for the current quarter.
Read MoreThe WA gold sector has not exactly been shooting the lights out of late.
Read MoreThe company has updated the outlook for the second half. The limited availability of equipment has meant reduced FY19 guidance, at 150-160,000 ounces versus 180-210,000 ounces.
Read MoreTwo bits of interesting news in updates from the gold sector – WA explorer, Dacian Gold thinks it has a goer in its Cameron Well discovery at its Mt Morgans gold mine near Laverton, and Northern Star Resources has upgraded the size and quality of the gold reserves at the Pogo mine in Alaska it bought a couple of months ago.
Read MoreThe gold producers have a lost a bit of their shine in recent weeks as a result of the gold price sinking below $US1,300/oz for the first time this year because of US dollar strength and an easing of geo-political tensions.
Read MoreGold’s against-the-odds push through $US1,300 an ounce fuelled a massive re-rating of the gold producers in the past couple of months.
Read MoreDacian Gold (DCN) shares eased 2% to $3.07 yesterday as investors considered the continuing weakness in gold and the company’s plans to spend $220 million in what appears to be a tidy WA gold prospect.
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