Gold Digger: It’s time to get fired up about the ‘Green and Gold’
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It is no longer just lip service — to create max value for shareholders, miners know they need good Environmental, Social and Governance (ESG) credentials.
Failing to maintain good relationships with stakeholders (like governments, local communities) or meet environmental expectations can lead to large fines, production disruption, or even mine closures.
An investor’s worst nightmare.
In the last few years there has also been rapid growth in ESG-related investing, with several large fund management groups now refusing to invest in some types of mining companies — like coal producers — because of their environmental impact.
Major gold miners are responding to this increased scrutiny by announcing greenhouse gas (GHG) emissions targets, Metals Focus says.
“In November 2020, Newmont, the world’s biggest gold miner, announced it was targeting a 30% reduction in GHG emissions by 2030 and aiming to have net zero emissions by 2050,” it says.
“Meanwhile, Barrick updated their GHG emissions targets in April 2021, which broadly align with Newmont’s.
“Most of the other major gold producers have announced similar goals for their emissions.”
It’s not just the big guys either – near term producers like Bellevue Gold (ASX:BGL) are also jumping on board the “green and gold”.
— Bellevue Gold Limited (@BellevueGold) May 25, 2021
With most gold mining companies now having emission targets in place, Metals Focus also expects to see more investment from the industry in renewable energy – solar, wind, batteries — in the coming years.
Here’s how ASX-listed gold & silver stocks are performing:
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Junior joint venture partners Nex and Metalicity gained on some shallow, very high-grade gold hits at the ‘McTavish’ prospect, part of the Kookynie project in WA.
Highlight drill results include:
Anything above 5g/t is generally considered high grade.
“With McTavish ‘open’ along strike and at depth — and the results to date from ‘Leipold’ — not only does this bode incredibly well for the pending Mineral Resource Estimate; it is also incredibly encouraging for the 2 kilometres of strike between McTavish and Leipold,” Metalicity chief exec Justin Barton says.
A maiden 3000m drilling campaign at the historic Sala project in Sweden is off to a great start, with visible silver, lead and zinc mineralisation hit in the first two diamond drill holes.
Last month, Alicanto sold a non-core gold project for $5.1m to help to fund ‘aggressive’ exploration at Sala and the nearby Greater Falun project in Sweden.
Alicanto is knee deep in a 3 rig, 20,000m drilling program to find a ‘company maker’ at Greater Falun, along strike from the historical Falun mine which produced 28 million tonnes at 4% copper, 4g/t gold, 35g/t silver, 5% zinc and 2% lead.
Assays are pending.
A busy week for $90m market cap Dreadnought.
Tuesday, the company picked up some high-grade copper rock chips at the ‘Tarraji-Yampi’ project in WA.
Wednesday, it found high grade tantalum rock chip at the ‘Peggy Sue’ critical minerals prospect, part of the flasgship Illara project.
On Thursday, a ~4,000m drilling campaign kicked off at Tarraji-Yampi, with updates and assay results “expected throughout July and August 2021”.
(Up on no news)
The gold-copper explorer continues to bounce off recent lows.
Last week, drilling confirmed a new 800m by 600m gold zone at the at ‘Horn Island’ which warrants additional follow up drilling, the company says.
High grade gold intersected at the ‘Tatooine’ anomaly at depth – including 5m at 4.4g/t from 128m – “remains open with an apparent near surface projection”.
Only three of 9 anomalies have been tested to date, AQX says.