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News.com.au
16 hours ago
- Business
- News.com.au
The Murchison goldfields could be the best place in WA to find a new gold mine
The Murchison is one of the best places in WA to explore for gold Competitive tension between major players Westgold and Ramelius puts toll treatment and takeovers on the agenda for juniors Caprice Resources is in the sweet spot, wedged between the fiefdoms of WGX and RMS In one of Australia's longest running gold fields, its infrastructure literally shaped by the historic mines the run like arteries through its landscape, two great fiefdoms have emerged. To the north of the Murchison, centred around the historic gold rush towns of Cue and Meekatharra, is the territory of Westgold Resources (ASX:WGX), which mills over 200,000oz of the precious metal every year through plants at Tuckabianna, Bluebird and Fortnum. To the south is Ramelius Resources (ASX:RMS), the king of the town of Mt Magnet, which has a similar production footprint out of its Checkers Mill and is charting a path to 500,000ozpa by incorporating Spartan Resources (ASX:SPR) and its Dalgaranga gold project. The competitive tension is palpable, highlighted in 2023 by the battle between the warring parties for Musgrave Minerals and its Cue gold project – RMS won the bidding there. Westgold ended up merging with TSX-listed Karora to take on its Beta Hunt mine further south near Kambalda, but was at one point a suitor for Spartan forerunner Gascoyne before its fateful Never Never gold discovery. Any player with a decent find in the district will become a takeover target for the hungry titans of the 133-year-old gold field. And new players are emerging that makes it even more exciting, especially with gold prices running above $5200/oz. Meeka Metals (ASX:MEK) raised $60m this week for its Meekatharra gold project, where it is mulling the expansion of the project's 600,000tpa mill. Vault Minerals (ASX:VAU) is chasing life extensions for the Deflector gold and copper mine, TSX-listed Monument Mining is looking to revive the mothballed Burnakura plant and Catalyst Metals (ASX:CYL) has hit a $1.5bn valuation with its revival of the Plutonic gold mine further afield beyond Meekatharra. For Caprice Resources (ASX:CRS) managing director Luke Cox, there's no better place to be looking for a fresh gold deposit in the context of an all-time boom for the precious metal, revealed by the WA Government to be contributing a record $739 million in royalties for the resource rich State alone in 2024-2025 and heading for higher climes of close to $1bn in each of 2026 and 2027. Caprice's New Orient and Island gold projects sit at the nexus of the two big players, wedged literally between the domains of Westgold and Ramelius. "You have two major players butted up against each other in the Murchison goldfields," Cox said. "They have mills they need to feed and all of a sudden you've got the explorers, which are like the incubators for future resources within the area that will feed their mills." Fill the mills It's known Westgold is chasing additional feed for its processing plants, especially shallow open pit gold that can supplement the underground mines under its control like Big Bell and Great Fingall. The $2.8bn gold miner has already inked a deal with New Murchison Gold (ASX:NMG) to process ore containing around 140,000oz over 2.5 years through its Bluebird plant near Meekatharra from the junior's Crown Prince gold deposit. Ramelius, meanwhile, has been acquisitive in recent years, bolting on higher quality but short live resources like the Penny gold mine and Break of Day, the latter literally located next door to Caprice's ground. CRS has a headstart on permitting. Its New Orient and Island projects sit on separate granted mining leases, removing a critical hurdle to get any gold project up and running given the time it takes to secure Aboriginal heritage clearances and State Government approval to have a mining lease granted. Now the aim is to drill out something worthy of getting the mid-tiers intrigued. The Vadrians Hill prospect at Island has already shown its wares – a headline strike of 28m at 6.4g/t in February proved the catalyst for the $37m capped explorer's 160% YTD share price rise. A 7000m program recently wrapped up, with 2000m added to an initial 5000m campaign as gold continued to show. Work is also ongoing to prove up the tighter drilled New Orient, where a historic resource was once reported. In the more than two decades since drilling has gotten denser, deeper and expanded the known strike of gold mineralisation, Cox says. At Vadrians, the aim is to outline a potential open pit with drilling continuing to find more gold. "Initially we're looking at open pit material because that'll be the material that's of more interest to potential players in the area," he said. "When you look at (Ramelius') Break of Day, we'll be chasing one of these to depth, either Baxter or Vadrians, North Vadrians, South Vadrians, we've just got a new discovery down here. " There's always things that we can start to chase. " At the moment, we're doing the shallower drilling, and then we'll start following up with deeper drilling. That's where you start getting some significant ounces." The critical thing for companies like Ramelius and Westgold is to keep their mills fed to the optimum level. Cox, who was once mine manager at the Edna May gold mine in WA, pointed out they need to run at a critical mass or the ball mills – rotating barrels that grind down and liberate gold from mineralised ore before it is leached with cyanide – literally "eat themselves". The steel balls which act as the grinding media can erode against each other without the right amount of ore to act as a buffer. Filling the mills isn't a luxury, it's a necessity. Handily, work completed by previous owners has shown the ore at Island is similar to that which has been processed at Ramelius' Checkers mill for decades. Caprice will be taking its own samples for metallurgical testwork in upcoming diamond drilling. The golden radius Forget the golden ratio, the golden radius has become the key equation for mill operators in WA's hot gold scene. Back in his Edna May days, Cox recalls drawing a 100km circle around the Westonia mine's processing plant. Everything inside was fair game for M&A or toll treatment deals. With gold prices at record highs, that circle is expanding. Mines now located between 100-200km from a processing plant can be comfortably trucked and milled at a profit. Where Caprice thinks its ground position stands out is that if the gold price were to collapse, that radius could shrink to 50km. "If the gold price goes down to US$1500/oz, what are you going to do? If the gold price goes up to US$5000/oz, how are you going to bang for as much material as possible to make like hay while the sun shines?" Cox said. "So you need all of these juniors to prove up resources that become potential feed sources for there mills." For CRS, Cox said the key thing was it knows the gold is there in the ground, it just needs to do the work to prove up deposits of significance, and recently raised a cool $7m in quick time from investors to do just that. Who else is aiming to join the Murchison empire? There are plenty of other gold explorers looking to outline and mine resources across the historic Murchison Goldfields. Aforementioned New Murchison Gold is an obvious one, given their processing tie-up with Westgold and denied media speculation of a takeover approach from WGX last last month. NMG is planning to develop Crown Prince at a cost of just $5.4m in the second half of this year, with its ore reserve running at 890,000t at 4.8g/t for 140,000oz. Odyssey Gold (ASX:ODY) owns the Tuckanarra project where it boasts a significant resource of 407,000oz at 2.5g/t, as well as an access and collaboration agreement to potentially process the ore with its joint venture partner Monument Mining at the Burnakura mill. Monument is currently looking into the reopening of the plant and its expansion from 260,000tpa to 750,000tpa. Great Boulder Resources (ASX:GBR) owns the Side Well gold project, containing over 500,000oz on Meekatharra's doorstep and is regularly touted as a potential takeover prospect for Westgold. Further afield Strata Minerals (ASX:SMX) is looking to see if the mineralisation hosting Ramelius' ultra high grade Penny gold mine continues to the south. Initial drill results returned some low grade gold hits, but provided encouragement to plan another round of drilling. Closer to Wiluna on the cusp of the Murchison and Northern Goldfields, Western Gold Resources (ASX:WGR) is planning FID on its Gold Duke utilising a processing deal with the operators of the Wiluna gold mine. The site would deliver 447,000t at 2.55g/t Au for 34,000oz according to a scoping study, generating an estimated undiscounted accumulated cash surplus of $38.10 million against a capital bill of just $2.1-2.5m. Star Minerals (ASX:SMS) is also aiming to become a small-scale gold producer at its Tumblegum South project, with India's Bain Global Resources on board as a strategic investor. With the Indian mining contractor's help it wants to bring Tumblegum South into production in early 2026. A scoping study suggested at gold prices from A$3000 to A$3800/oz – well below current levels – the updated production target for the Tumblegum South Gold Project ranges from approximately 167,000t at 2.43g/t producing 11,800oz gold, to 255,000t at 2.16g/t producing 15,900oz gold. That would generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of approximately A$9.4m to A$19.6m. Tumblegum South contains a total resource of 45,000oz.
Yahoo
29-05-2025
- Business
- Yahoo
Evercore Unfazed: $205 Target Reaffirmed Despite GOOG Underperformance
Evercore ISI recently reiterated an Outperform rating and $205 price target on Alphabet Inc. (NASDAQ:GOOG) shares. Alphabet is a technology company that owns and runs the internet search engine Google. In an investor note, the analyst noted that Alphabet shares had traded down following reports that Apple Senior VP of Services Eddy Cue testified that Search volumes in Apple's Safari browser fell for the first time in April and that Apple was actively exploring adding AI Search capabilities to its browser, potentially adding partners like Perplexity and Anthropic. The selloff put shares of Google's parent down a total of 26% since an early February peak, noted the analyst, who will take the other side and be buyers of this correction. Later in the day, Google issued a statement saying: We continue to see overall query growth in Search. That includes an increase in total queries coming from Apple's devices and platforms, notes Evercore. It is plausible that Cue's statement reflects both a very mature low-single digit percentage Search query growth rate and Apple Safari browser share losses, as tracked by statcounter, added the analyst. A laptop and phone open to Google's services in an everyday setting. While we acknowledge the potential of GOOG, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOOG and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires Disclosure: None.
Yahoo
29-05-2025
- Business
- Yahoo
Evercore Unfazed: $205 Target Reaffirmed Despite GOOG Underperformance
Evercore ISI recently reiterated an Outperform rating and $205 price target on Alphabet Inc. (NASDAQ:GOOG) shares. Alphabet is a technology company that owns and runs the internet search engine Google. In an investor note, the analyst noted that Alphabet shares had traded down following reports that Apple Senior VP of Services Eddy Cue testified that Search volumes in Apple's Safari browser fell for the first time in April and that Apple was actively exploring adding AI Search capabilities to its browser, potentially adding partners like Perplexity and Anthropic. The selloff put shares of Google's parent down a total of 26% since an early February peak, noted the analyst, who will take the other side and be buyers of this correction. Later in the day, Google issued a statement saying: We continue to see overall query growth in Search. That includes an increase in total queries coming from Apple's devices and platforms, notes Evercore. It is plausible that Cue's statement reflects both a very mature low-single digit percentage Search query growth rate and Apple Safari browser share losses, as tracked by statcounter, added the analyst. A laptop and phone open to Google's services in an everyday setting. While we acknowledge the potential of GOOG, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOOG and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Google搜尋大升級！AI模式追貼ChatGPT？
Google在星期二的I/O大會上首次展示超越其傳統的搜尋產品，並推出了一系列新技術。這些技術未必會取代會給你10個鏈結的主流的搜尋世界，但到未來，這些鏈結在生活上會變得沒有那麼必要，Google正為這毎未來的來臨鋪平了道路。 下載Yahoo財經APP 美股外幣即時報價 多國新聞任睇 從內建類似ChatGPT式的人工智能模式（AI Mode）、幫你買東西的AI代理，到重新研發下一代智能眼鏡，Google顯示其如何在AI初創公司和政府反壟斷執法機構雙重威脅下，致力將服務提升到更高層次。 Alphabet（GOOGL）最重要的子公司Google的廣告帝國建立在搜尋平台基礎上，這仍是其最重要業務。但OpenAI（ Google迎擊新對手的的必要，在一場反壟斷聽證會上顯露無遺。蘋果（AAPL）服務業務高級副總裁Eddy Cue透露，通過其Safari瀏覽器的搜尋量在4月倒退，是歷史首次下降。Google是Safari的預設搜尋引擎，這是兩公司每年200億美元協議的一部分，而美國司法部正通過反壟斷官司謀求終止此協議。 Cue將倒退是因為客戶選擇使用ChatGPT等生成式AI服務，但Google反駁，稱其搜尋總體查詢量持續增長。 該報告震撼了華爾街，5月7日消息傳出時，Google股價一度下跌高達7.5%。 自2022年底OpenAI及其合作夥伴微軟（MSFT）對Google搜尋霸主地位開始構成威脅以來，Google一直處於守勢。現在，Google正全力以赴，向客戶和華爾街證明其有能力繼續在搜尋領域中稱霸。 Google搜尋平台最大改變之一是新增「AI模式」（AI Mode）。用戶可以與Google AI進行來回對話，類似於與ChatGPT、Bing或Perplexity的互動。如此公司便毋須放棄傳統搜尋產品，因為AI Mode並非取代搜尋，而是在搜尋中作為一個標籤，類似於圖片、新聞和視頻。此功能會先在美國開放。 AI Mode使用Google的最先進的模型，並利用公司稱為「分散查詢」（query fan-out）的技術。Google表示，此方法將查詢分解為較小的子問題，同時運行多個獨立搜尋。Google解釋，這使AI Mode能執行比傳統搜尋更深入的搜尋。 Google搜尋的「AI概覽」（AI Overviews）也將升級，部分搜尋結果將從AI Mode的最新AI模型中提取信息，作為兩種搜尋選項之間的選擇。 Google表示，還將為AI Mode引入AI代理功能，可以讓軟件執行任務，如儲起客戶想要的產品並完成結帳流程。 AI Mode還新增「試衫」功能，用戶可以上傳自己的圖像，然後看看衣服穿在身上的效果。僅從這些公布可見，Google對AI Mode寄予厚望，有機會成為傳統搜尋產品的接班人。 Google不僅專注於對抗新興AI公司，還致力於應對智能眼鏡的新威脅。Google最大的廣告競爭對手Meta已推出Ray-Ban Meta智能眼鏡，希望這款眼鏡引領消費科技革命。 Meta正在開發其Meta AI為用戶執行搜尋功能，若智能眼鏡持續改進，足以令消費者放棄智能手機，或至少透過眼鏡進行搜尋而減少使用手提電話，則Google可能面臨嚴重危機。 為此，Google重新投入研發，宣布與三星、高通（QCOM）、Warby Parker（WRBY）和Gentle Monster合作，開發自家的智能眼鏡。 智能眼鏡未必能像智能電話多年來那樣成為全球消費者的首選科技。但隨著搜尋業務面臨的威脅增加，Google不能錯過這一機會。 翻譯自Yahoo財經
Yahoo
21-05-2025
- Business
- Yahoo
Did a Top Apple Executive Just Give Investors the Ultimate Reason to Dump the Stock?
An Apple executive recently testified at Google's antitrust case, and admitted that iPhones may not be needed in 10 years. iPhone sales account for approximately half of Apple's top line. Artificial intelligence (AI) could result in a shift in users relying more on wearable devices. 10 stocks we like better than Apple › Apple (NASDAQ: AAPL) has been one of the best stocks to own over the past five years on the stock market, rising more than 160% during that time frame. As of Monday's close, its market cap was just over $3.1 trillion, making it one of the most valuable companies in the world. The success and strength of its business revolves around its iPhones and iPads, as well as the ecosystem of its other products and services. But what if something happened that disrupted that dominance? One of Apple's own executives admitted that there could be trouble ahead for the business, and may have provided investors with a reason to think twice about owning the stock for the long term. The world of tech is changing rapidly due to advancements related to artificial intelligence (AI). And that can mean the devices that people use today may become obsolete within the next five to 10 years. Eddy Cue, the senior vice president of services at Apple, testified at the antitrust case against Google (which Alphabet owns), stating that even the company's iPhones may not be crucial due to changing AI trends: "You may not need an iPhone 10 years from now." Cue believes that AI-powered wearable devices, such as smart glasses, could take the place of today's smartphones. For Apple, that means both opportunities ahead and also some significant challenges. Consider that during the first three months of 2025, the company's net sales totaled $95.3 billion, and iPhone revenue accounted for roughly half of that, at $46.8 billion. The company has already faced difficulties in growing that area of its business, as iPhone sales rose by just 2% in the most recent quarter. A longer-term trend that gives consumers more of a reason to ditch the iPhone certainly wouldn't help matters for Apple. The company would have to rely on innovation and potentially coming out with something new. And unfortunately, that hasn't exactly been a strong point for the business in recent years. Apple has been lagging behind other companies when it comes to AI. It has delayed its Apple Intelligence features that it was planning to roll out for iPhones this year, which will now be slated for 2026. While some AI features are available, including summarizing emails and webpages, more advanced ones such as using Apple's Siri assistant for multiapp requests that involve multiple steps won't be available until next year. The problem is that there are already many chatbots for users to choose from today that can handle complex, multistep requests, and Apple is already well behind the competition. By next year, the gap could widen even further. While Apple is prioritizing safety and privacy, which are important aspects of AI, the company's inability to keep up could pose problems for the business in the future. At the very least, Apple's already sluggish growth rate could take a hit. And if iPhone sales are struggling, that could trickle down and affect how many of those consumers are also buying iPads and subscribing to services. There are over 1 billion active iPhones in the world, but Android devices actually have the lion's share of the smartphone market, at over 71%. Apple iPhones are a bit of a status figure, but they may have lost their practicality over the years, with Android devices being cheaper, less locked down, and easier for users to modify and customize. In the future, if Apple struggles to keep up with AI, its market share may diminish even further. It's difficult to predict how the next five-plus years will play out in tech, let alone the next decade, and what effect that will have on Apple's business. The company's lack of significant innovation hasn't hurt them over the past decade, as iPhones have remained iconic devices and are still crucial to Apple's business. But the changes that AI is causing could finally ramp up the pressure on Apple to get going and deliver advancements that may be necessary to keep up with the market. AI is an area that Apple investors should monitor. For now, the business is still doing well, and there's no need to panic. But Cue's comments about the iPhone do highlight a serious concern about just how long Apple can rely on its devices without making significant advancements. That remains a big question mark hovering over the business today. If you're invested in Apple, you may not necessarily need to rush to sell your shares, and it can still make for a good stock to own, but this is a risk you should consider for the long haul. If, however, you're a growth-oriented investor, you may be better off pursuing other tech stocks that are better positioned to benefit from advancements in AI than Apple. Before you buy stock in Apple, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Apple wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy. Did a Top Apple Executive Just Give Investors the Ultimate Reason to Dump the Stock? was originally published by The Motley Fool
