Gold Digger: Sizzling oil prices suggest gold will hit US$2000/oz soon

Gold is re-starting its bull rally as two major obstacles — higher US Treasury yields and Bitcoin — fizzle.

“Strong headwinds from parabolic Bitcoin and rising bond yields appear to have run their course,” Bloomberg Intelligence senior commodity strategist Mike McGlone said in a note.

“Weaker-than-consensus April and May U.S. unemployment reports [also] support our key takeaway that gold and silver are ripe to resume their bull markets.

“About $US2,000 is key gold resistance, which we expect to eventually be breached.”

Oil prices indicate gold is due a breakout

Gold and oil usually (not always) rise and fall in loose tandem.

The belief is that rising oil prices push up inflation, increasing demand for gold as an investment hedge.

Gold Prices (blue) vs Oil Prices (orange) since the 1970s. Pic: macrotrends.net/

Right now, gold is running at “an unsustainably steep discount” to crude oil which is booming, according to Bloomberg Intelligence.

“It’s the battle between the most significant commodity with low elasticity of supply, gold, vs. a highest, crude oil, and we expect trend resumption favouring the metal,” McGlone says.

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODE	COMPANY	1 WEEK RETURN %	1 MONTH RETURN %	6 MONTH RETURN %	1 YEAR RETURN %	PRICE	MARKET CAP
A1G	African Gold .	-9	-4	11	167	0.25	$ 25,594,196.32
A8G	Australasian Gold	0				0.17	$ 5,463,965.27
AAJ	Aruma Resources	-2	-3	-30	5	0.063	$ 6,675,538.40
AAR	Anglo Australian	-4	-13	-39	-31	0.086	$ 50,654,721.02
AAU	Antilles Gold	13	11	24	53	0.071	$ 18,424,366.92
ADN	Andromeda Metals	25	35	-14	310	0.25	$ 561,789,235.02
ADT	Adriatic Metals	14	11	39	100	2.84	$ 517,169,492.76
ADV	Ardiden	5	-5	-38	163	0.0105	$ 21,493,542.16
AGC	AGC	3	11			0.155	$ 10,497,729.02
AGC	AGC	3	11			0.155	$ 10,497,729.02
AGG	AngloGold Ashanti	-7	0	-3	-20	5.73	$ 512,944,648.75
AGS	Alliance Resources	-3	-9	-15	1	0.145	$ 30,162,484.43
AL8	Alderan Resource	8	-20	-40	-55	0.056	$ 17,578,524.43
ALK	Alkane Resources	5	16	7	11	1.05	$ 595,388,800.00
ALY	Alchemy Resource	-6	-12	-12	18	0.015	$ 9,411,408.34
AME	Alto Metals Limited	1	-9	-4	28	0.091	$ 40,523,376.15
AMI	Aurelia Metals	-2	-5	0	-9	0.41	$ 506,243,348.75
ANL	Amani Gold	-25	-25	50	0	0.0015	$ 18,580,495.12
ANX	Anax Metals	-15	-15	33	233	0.085	$ 30,115,814.54
AOP	Apollo Consolidated	-5	-11	-11	-2	0.285	$ 82,541,868.15
AQI	Alicanto Min	-4	0	8	91	0.13	$ 42,622,769.93
AQX	Alice Queen	7	-11	-41	-30	0.016	$ 19,785,386.32
ARL	Ardea Resources	13	17	32	77	0.5825	$ 66,388,702.64
ARN	Aldoro Resources	0	5	139	353	0.335	$ 28,110,671.05
ARV	Artemis Resources	-11	-35	-54	59	0.062	$ 69,342,623.34
ASO	Aston Minerals	-14	23	400	414	0.19	$ 176,526,524.37
AUC	Ausgold Limited	0	16	13	183	0.051	$ 77,682,127.51
AUT	Auteco Minerals	-9	-9	-12	69	0.086	$ 143,377,388.50
AVW	Avira Resources	0	-14	-25	100	0.006	$ 8,250,240.00
AWJ	Auric Mining	0	-9			0.155	$ 6,276,389.89
AWV	Anova Metals	0	0	-19	-9	0.021	$ 30,094,978.20
AXE	Archer Materials	2	-4	35	25	0.75	$ 165,006,678.58
AYM	Australia United Min	0	-22	-22	250	0.007	$ 12,898,042.40
AZS	Azure Minerals	-3	-18	-64	222	0.2675	$ 81,642,716.07
BAR	Barra Resources	-5	-13	-28	24	0.021	$ 14,907,378.22
BAT	Battery Minerals	-5	0	-5	233	0.02	$ 40,825,470.82
BBX	BBX Minerals	6	-4	0	150	0.275	$ 115,907,252.64
BC8	Black Cat Syndicate	-8	-11	0	9	0.68	$ 93,624,750.45
BCN	Beacon Minerals	-3	3	5	5	0.035	$ 129,006,941.22
BDC	Bardoc Gold	-4	-7	-4	-20	0.07	$ 119,732,758.94
BGL	Bellevue Gold	-4	-17	-40	-8	0.805	$ 659,334,801.51
BMO	Bastion Minerals	3	5			0.2	$ 11,490,852.00
BNR	Bulletin Res	4	6	-11	-14	0.073	$ 12,550,515.18
BNZ	Benzmining	-1	11			0.9	$ 34,136,451.90
BRB	Breaker Res NL	-5	-8	-10	-24	0.175	$ 55,392,957.93
BRV	Big River Gold	0	10	-4	52	0.4	$ 87,732,281.20
BTR	Brightstar Resources	0	0	-35	600	0.035	$ 15,391,276.74
BYH	Bryah Resources	-11	-18	8	19	0.07	$ 11,185,376.07
CAI	Calidus Resources	-3	25	-7	3	0.495	$ 193,965,248.30
CAZ	Cazaly Resources	-3	0	12	90	0.057	$ 19,586,853.15
CBY	Canterbury Resources	2	-3	-8	3	0.097	$ 10,850,924.11
CDT	Castle Minerals	-6	7	67	67	0.015	$ 10,987,512.27
CEL	Challenger Exp	-5	-22	30	12	0.28	$ 198,244,136.44
CGN	Crater Gold Min	-6	-6	-11	89	0.017	$ 20,867,429.74
CHN	Chalice Mining	-6	10	106	762	8.66	$ 2,951,756,414.43
CHZ	Chesser Resources	10	10	-26	90	0.16	$ 72,400,340.00
CLA	Celsius Resource	-7	-15	-11	225	0.039	$ 39,794,667.08
CMM	Capricorn Metals	-3	4	22	20	1.995	$ 693,038,568.42
CST	Castile Resources	-2	-10	-15	74	0.235	$ 46,931,878.44
CTO	Citigold Corp	0	0	-15	120	0.011	$ 30,580,000.00
CWX	Carawine Resources	2	-16	-2	36	0.245	$ 26,133,576.48
CXU	Cauldron Energy	-7	-3	3	56	0.039	$ 18,239,980.48
CY5	Cygnus Gold Limited	-7	-7	-22	122	0.14	$ 15,178,813.72
CYL	Catalyst Metals	-1	-5	-23	-27	1.98	$ 194,134,052.93
DCN	Dacian Gold	1	-18	-18	-41	0.2825	$ 254,975,160.16
DCX	Discovex Res	0	8	-7	18	0.0065	$ 16,696,316.49
DDD	3D Resources Limited	0	0	34	102	0.005	$ 19,401,860.46
DEG	De Grey Mining	-9	-3	39	126	1.435	$ 1,815,845,970.71
DEX	Duke Exploration	-6	5	4		0.41	$ 22,023,009.02
DGO	DGO Gold Limited	-6	-5	17	25	3.38	$ 246,398,355.80
DLC	Delecta Limited	0	0	0	20	0.006	$ 6,051,727.23
DRE	Drednought Resources	4	-7	14	317	0.025	$ 56,770,710.50
DTM	Dart Mining NL	-10	-7	-28	86	0.14	$ 13,992,366.64
DTR	Dateline Resources	-13	-4	92	92	0.096	$ 36,644,291.40
E2M	E2 Metals	5	2	-50	144	0.33	$ 49,552,273.98
EM2	Eagle Mountain	5	-2	189	590	1.07	$ 210,695,355.15
EMR	Emerald Res NL	-3	5	60	110	1.03	$ 530,859,123.21
EMU	EMU NL	-21	-39	-33	82	0.031	$ 14,608,463.49
ENR	Encounter Resources	0	21	-3	35	0.175	$ 56,836,174.14
ERM	Emmerson Resources	-6	4	-6	-34	0.073	$ 36,371,409.70
EVN	Evolution Mining	-3	0	4	-4	5.08	$ 8,440,815,399.90
FAU	First Au	-6	-20	-6	23	0.016	$ 9,834,060.06
FFR	Firefly Resources	-5	-5	-28	201	0.1	$ 30,733,953.00
FFX	Firefinch	17	14	193	340	0.44	$ 333,642,100.30
FML	Focus Minerals	0	-3	-13	26	0.29	$ 52,083,341.03
G88	Golden Mile Res	-2	-32	22	50	0.06	$ 8,401,099.68
GBR	Greatbould Resources	-6	-22	105	279	0.094	$ 33,178,800.33
GBZ	GBM Rsources	0	12	0	109	0.14	$ 60,654,465.48
GED	Golden Deeps	0	9	-14	50	0.012	$ 9,298,217.28
GIB	Gibb River Diamonds	-8	8	-60	75	0.07	$ 15,228,680.04
GML	Gateway Mining	9	4	-23	85	0.024	$ 43,783,618.80
GMN	Gold Mountain	-5	-8	-10	-26	0.037	$ 28,405,822.19
GMR	Golden Rim Resources	-9	-5	0	25	0.01	$ 28,038,671.63
GNM	Great Northern	-22	56	-7	8	0.014	$ 20,553,866.59
GOR	Gold Road Res	0	7	25	1	1.505	$ 1,272,872,521.91
GRL	Godolphin Resources	-3	-8	-35	-6	0.17	$ 14,298,771.74
GSM	Golden State Mining	6	48	-8	-29	0.185	$ 13,239,737.28
GSN	Great Southern	-10	-11	-31	-53	0.047	$ 21,385,959.74
GTR	Gti Resources	4	4	4	-38	0.025	$ 14,823,913.95
GUL	Gullewa Limited	-1	0	-18	32	0.086	$ 15,684,086.60
GWR	GWR Group	6	-15	16	332	0.285	$ 86,294,136.26
HAW	Hawthorn Resources	0	4	-43	-49	0.052	$ 17,342,811.88
HCH	Hot Chili	3	9	-12	90	0.038	$ 117,958,442.18
HMX	Hammer Metals	0	16	214	224	0.11	$ 84,698,514.50
HRN	Horizon Gold	-13	16	2	91	0.43	$ 45,877,566.88
HRZ	Horizon	4	17	17	29	0.135	$ 70,996,900.00
HWK	Hawkstone Mng	3	-14	210	288	0.031	$ 49,076,799.21
HXG	Hexagon Energy	-1	-22	28	48	0.086	$ 37,911,175.30
ICG	Inca Minerals	-10	13	141	603	0.135	$ 53,446,112.59
IDA	Indiana Resources	-3	-13	31	212	0.077	$ 23,769,617.87
IPT	Impact Minerals	13	0	-15	21	0.017	$ 32,380,718.70
IVR	Investigator Res	-5	8	94	518	0.105	$ 131,070,714.09
KAI	Kairos Minerals	-3	29	-8	48	0.036	$ 58,676,435.09
KAU	Kaiser Reef	-3	3	-27	15	0.3	$ 28,558,464.43
KCC	Kincora Copper	8	-3			0.32	$ 22,587,486.68
KCN	Kingsgate Consolid.	2	6	11	114	0.9	$ 196,816,567.80
KGM	Kalnorth Gold	0	0	0	63	0.013	$ 11,625,120.78
KRM	Kingsrose Mining	2	-5	82	46	0.06	$ 43,800,441.12
KSN	Kingston Resources	-2	12	-23	48	0.23	$ 65,259,497.58
KTA	Krakatoa Resources	9	-2	-13	67	0.06	$ 16,179,100.00
KWR	Kingwest Resources	0	-8	-43	-35	0.092	$ 18,182,447.19
KZR	Kalamazoo Resources	-3	-4	-23	-30	0.43	$ 57,394,523.79
LCL	Los Cerros Limited	-1	-7	73	342	0.1725	$ 80,494,580.44
LCY	Legacy Iron Ore	-3	3	121	417	0.0155	$ 96,071,077.76
LEX	Lefroy Exploration	4	50	574	558	1.315	$ 151,212,180.42
LNY	Laneway Res	0	0	-29	25	0.005	$ 18,875,329.67
M24	Mamba Exploration	-2	13			0.255	$ 9,250,000.00
M2R	Miramar	-7	-19	-41		0.195	$ 8,234,366.40
MAT	Matsa Resources	2	0	-28	-33	0.083	$ 24,329,131.37
MAU	Magnetic Resources	1	8	27	32	1.51	$ 329,215,469.90
MBK	Metal Bank	0	-9	-17	16	0.01	$ 10,701,614.74
MCT	Metalicity Limited	0	-8	-33	-14	0.012	$ 21,492,768.85
MDI	Middle Island Res	0	-23	-62	-71	0.1	$ 12,119,403.98
MEG	Megado	-14	-24	-29		0.125	$ 5,303,843.74
MEI	Meteoric Resources	-11	-9	-19	168	0.051	$ 68,369,160.03
MEU	Marmota Limited	-2	-2	-6	-20	0.044	$ 43,584,016.05
MGV	Musgrave Minerals	-6	9	-5	-2	0.405	$ 218,621,409.09
MHC	Manhattan Corp	-7	-19	-54	8	0.013	$ 19,841,623.01
MKG	Mako Gold	-2	-14	-25	22	0.09	$ 23,666,227.38
MKR	Manuka Resources.	-12	-10	-17		0.36	$ 34,704,884.52
MLS	Metals Australia	0	-33	33	100	0.002	$ 8,454,376.09
MM8	Medallion Metals.	17	35			0.345	$ 25,659,005.12
MML	Medusa Mining	1	15	21	40	0.935	$ 193,322,169.93
MOH	Moho Resources	-6	-6	-25	-1	0.075	$ 7,745,655.15
MRR	Minrex Resources	-4	-8	5	120	0.022	$ 12,125,015.21
MRZ	Mont Royal Resources	0	-17	0	71	0.3	$ 11,363,014.50
MSR	Manas Res	9	71	100	140	0.012	$ 36,471,859.58
MTC	Metalstech	6	104	21	65	0.255	$ 39,223,497.69
MTH	Mithril Resources	-11	-6	-16	14	0.016	$ 35,253,495.62
MVL	Marvel Gold Limited	8	4	8	135	0.057	$ 30,009,999.42
MZZ	Matador Mining	-9	26	56	81	0.515	$ 92,097,620.68
NAE	New Age Exploration	-19	-28	8	160	0.013	$ 18,220,057.83
NAG	Nagambie Resources	-10	-17	47	-3	0.063	$ 31,495,737.80
NCM	Newcrest Mining	-1	-1	3	-2	27.885	$ 22,467,293,633.08
NES	Nelson Resources.	-8	-36	-28	23	0.057	$ 8,291,971.94
NML	Navarre Minerals	5	-16	-46	-30	0.105	$ 64,624,215.10
NMR	Native Mineral Res	-9	-13	-50		0.265	$ 8,572,016.25
NPM	Newpeak Metals	0	-20	-33	-33	0.002	$ 11,408,322.60
NSM	Northstaw	-6	-6	-36		0.29	$ 11,800,000.00
NST	Northern Star	0	1	-7	-12	11.45	$ 12,809,502,134.19
NUS	Nusantara Resources	-5	19	2	-2	0.315	$ 72,220,997.21
NVA	Nova Minerals	0	0	-12	142	0.145	$ 257,756,730.29
NWM	Norwest Minerals	-5	18	0	-49	0.094	$ 9,795,616.11
NXM	Nexus Minerals	-8	-17	-41	66	0.083	$ 20,752,892.04
OAU	Ora Gold Limited	-17	-13	-9	33	0.02	$ 18,526,094.88
OBM	Ora Banda Mining	-12	-8	-35	-33	0.18	$ 143,177,732.69
OKR	Okapi Resources	-15	-5	-2	43	0.2	$ 10,669,726.20
OKU	Oklo Resources	0	-4	-43	-55	0.125	$ 60,483,577.44
ONX	Orminex	-6	-13	92	17	0.048	$ 26,845,766.47
OZM	Ozaurum Resources	-2	5			0.1575	$ 8,193,150.00
PAK	Pacific American Hld	-9	-13	-9	100	0.02	$ 6,371,698.00
PDI	Predictive Disc	-9	9	79	15	0.1	$ 126,849,175.50
PF1	Pathfinder Resources	3	47	17		0.315	$ 15,663,119.85
PGD	Peregrine Gold	-3	0			0.36	$ 9,876,647.76
PKO	Peako Limited	14	11	68	246	0.042	$ 8,258,329.61
PNM	Pacific Nickel Mines	-2	-2	-16	29	0.049	$ 10,529,856.76
PNR	Pantoro Limited	-4	0	0	5	0.22	$ 309,847,610.16
PNX	PNX Metals Limited	-15	21	21	-6	0.0085	$ 32,869,741.60
PRS	Prospech Limited	-6	14	-32	0	0.16	$ 10,403,294.24
PRU	Perseus Mining	2	13	28	28	1.46	$ 1,704,775,049.30
PRX	Prodigy Gold NL	-13	-4	0	-4	0.048	$ 27,870,125.09
PUA	Peak Minerals	15	5	-26	64	0.023	$ 13,523,458.34
PUR	Pursuit Minerals	-8	38	281	1127	0.08	$ 73,750,713.28
RDN	Raiden Resources	11	15	-3	400	0.03	$ 37,581,398.61
RDS	Redstone Resources	-20	45	23	129	0.016	$ 11,503,985.01
RED	Red 5 Limited	15	-5	-17	-32	0.195	$ 434,069,800.70
REZ	Resourc & En Grp	10	-16	-36	100	0.032	$ 13,813,785.25
RGL	Riversgold	0	-8	5	2	0.044	$ 17,777,856.62
RML	Resolution Minerals	0	-11	-37	-67	0.024	$ 10,744,310.74
RMS	Ramelius Resources	-3	2	17	15	1.9	$ 1,485,581,510.45
RMX	Red Mount Min	-9	0	-17	150	0.01	$ 13,196,636.13
RND	Rand Mining	3	1	-23	-29	1.435	$ 81,617,004.04
RRL	Regis Resources	1	-2	-25	-46	2.65	$ 1,930,293,532.16
RSG	Resolute Mining	-5	0	-26	-49	0.545	$ 574,024,207.12
RVR	Red River Resources	-9	-1	-13	156	0.2225	$ 113,910,360.74
RXL	Rox Resources	3	-11	-38	29	0.031	$ 73,287,539.49
S2R	S2 Resources	-9	-19	-19	26	0.145	$ 44,084,765.06
SAU	Southern Gold	8	-11	-27	-47	0.08	$ 16,426,314.21
SBM	St Barbara Limited	-2	-11	-25	-39	1.84	$ 1,277,982,939.15
SBR	Sabre Resources	0	-17	-44	25	0.005	$ 8,415,318.25
SFM	Santa Fe Minerals	-12	-9	-6	47	0.088	$ 6,408,053.43
SI6	SI6 Metals Limited	0	0	-72	200	0.012	$ 15,325,862.90
SIH	Sihayo Gold Limited	-8	-14	-33	-22	0.012	$ 44,225,536.96
SKY	SKY Metals	-4	-13	-33	-56	0.135	$ 34,530,975.92
SLR	Silver Lake Resource	-7	-10	-1	-9	1.76	$ 1,494,270,158.93
SLZ	Sultan Resources	-7	-10	11	79	0.26	$ 18,078,941.14
SMI	Santana Minerals	-8	-24	-39	-48	0.11	$ 12,543,589.96
SNG	Siren Gold	-15	26	-64		0.29	$ 17,062,288.10
SPQ	Superior Resources	18	13	-24	160	0.013	$ 16,576,029.49
SRN	Surefire Rescs NL	-14	-24	-57	375	0.019	$ 20,780,497.79
SSR	SSR Mining Inc.	-4	4	-8		22.86	$ 421,790,789.64
STK	Strickland Metals	32	78	-2	181	0.041	$ 27,204,343.76
STN	Saturn Metals	-3	1	-37	-18	0.425	$ 47,797,416.75
SVL	Silver Mines Limited	-3	7	55	213	0.31	$ 347,040,797.74
SVY	Stavely Minerals	-9	-22	-39	-12	0.52	$ 138,309,569.56
TAM	Tanami Gold NL	-5	-19	-12	30	0.069	$ 84,606,987.31
TAR	Taruga Minerals	-33	-39	39	221	0.061	$ 30,328,590.36
TBA	Tombola Gold	-2	-8	-4	38	0.044	$ 24,389,014.28
TBR	Tribune Res	-1	-2	-17	-23	4.96	$ 270,210,596.55
THR	Thor Mining PLC	17	40	17	250	0.021	$ 11,796,977.64
TIE	Tietto Minerals	-6	14	-23	-20	0.33	$ 150,541,200.48
TIN	Tnt Mines Limited	3	-9	-47	-11	0.155	$ 14,945,596.00
TLM	Talisman Mining	-5	5	110	83	0.21	$ 41,058,244.70
TMX	Terrain Minerals	0	0	-17	100	0.01	$ 6,621,849.08
TMZ	Thomson Res	0	21	48	529	0.145	$ 67,160,738.95
TNR	Torian Resources	0	-42	14	23	0.033	$ 27,820,388.86
TRM	Truscott Mining Corp	-7	-4	39	92	0.025	$ 3,423,538.60
TRN	Torrens Mining	77	90			0.275	$ 18,418,033.26
TRY	Troy Resources	-20	-49	-61	-59	0.036	$ 26,514,731.88
TSC	Twenty Seven Co.	-10	-10	-25	-25	0.0045	$ 10,642,758.24
TSO	Tesoro Resources	-10	-21	-44	110	0.1575	$ 74,928,602.25
TTM	Titan Minerals	-4	0	-8	69	0.11	$ 131,037,029.91
VAN	Vango Mining	6	-6	-14	-33	0.067	$ 69,231,622.67
VKA	Viking Mines	-12	3	-9	285	0.03	$ 31,659,011.36
VMC	Venus Metals Cor	-10	9	-17	12	0.19	$ 30,971,130.02
VRC	Volt Resources	9	40	218	67	0.035	$ 83,311,483.54
WAF	West African Res	-8	-2	9	6	1.005	$ 847,840,792.32
WCN	White Cliff Min	-11	-11	-38	60	0.016	$ 8,275,142.38
WGX	Westgold Resources.	3	5	-11	10	2.27	$ 940,958,699.40
WMX	Wiluna Mining Corp	-4	1	-35	-40	0.99	$ 154,321,519.95
WRM	White Rock Min	-1	34	14	21	0.605	$ 52,373,849.58
WWI	West Wits Mining	9	16	62	755	0.094	$ 123,292,963.64
XAM	Xanadu Mines	-8	-32	33	2	0.044	$ 53,991,563.25
XTC	Xantippe Res	25	0	0	0	0.0025	$ 10,186,411.01
YRL	Yandal Resources	-3	-7	24	96	0.56	$ 54,398,478.18
ZAG	Zuleika Gold	-3	3	-38	41	0.038	$ 15,173,454.80
ZNC	Zenith Minerals	-2	-14	75	188	0.245	$ 70,646,407.20

SMALL CAP STANDOUTS

CODA MINERALS (ASX:COD) & TORRENS MINING (ASX:TRN)

The junior joint venture partners hit 200m of “intense IOCG alteration”, including ~50m of copper sulphides in its first deep exploration hole at the ‘Elizabeth Creek’ project in South Australia.

Iron oxide copper gold ore deposits (IOCG) — like BHP’s Olympic Dam mine or more recent Oak Dam discovery — can be tremendously large, and simple-to-process concentrations of copper, gold and other economic minerals.

STRICKLAND METALS (ASX:STK)

Renegade Exploration (ASX:RNX) will sell its ‘Yandal East’ project JV interest to fellow gold explorer Strickland for $800,000 cash, 40m shares and a 0.5% net smelter royalty on any future production.

For Strickland, this acquisition represents a major extension to its flagship ‘Horse Well project, ~30km from Northern Star’s (ASX:NST) 10moz Jundee operation.

FIREFINCH (ASX:FFX)

This emerging gold producer hit thick, high grades — including 6m grading 11.34 grams per tonne (g/t) gold from 74m – at ‘Viper’, part of the flagship Morila project in Mali.

“These are outstanding results. The scale of the mineralised system at Viper continues to grow with each drillhole,” managing director Dr Michael Anderson says.

“The delineation of surface mineralisation in the southern part of the deposit will provide another source of early oxide feed as we ramp up the Morila plant.”

Commencement of mining at Viper has been “expedited” with early works already underway and mining expected to begin in the coming weeks.