Discover Aussie gold’s new class

As prices rebound, a new breed of Aussie gold producer emerges. Here are six small to mid-tier companies to watch

REUBEN ADAMS

Gold prices continue to rally in 2023, edging towards US$1930 per ounce by late January. That’s close to a record high in Aussie dollar terms.

Here are six small to mid-tier miners in or near production who could benefit from an emerging gold boom.

CALIDUS RESOURCES (ASX:CAI)

Production: 105,000oz pa

CAI announced commercial production at its Warrawoona gold project in the Pilbara earlier this month.

In December, the company delivered 5053oz of gold at unaudited cash costs of $2050/oz. For the final third of the month the gold room delivered 235oz a day, equivalent to a rate just over 85,000 ounces per annum.

CAI poured its first gold in May 2022, but faced two major COVID outbreaks in September, restricting material movement and ore production.

TEN SIXTY FOUR (ASX:X64)

Production: 84-89,000oz pa (FY23)

In FY23, this unhedged gold producer expects to produce up to 89,000oz at all-in sustaining costs (AISC) of US$1320-US$1370/ oz from its Co-O operation in the Philippines.

Co-O has been continuously producing gold for more than a decade, hitting the 1 million ounce milestone in 2020.

X64 says the narrow, highgrade orebody continues below current reserve limits and remains open at depth. A US$54 million infrastructure project called the Tigerway Decline will set-up the Co-O operation for the next decade, the company says.

ORA BANDA MINING (ASX:OBM)

Production: 56-61,000oz pa (FY23)

OBM has historically struggled to make a go of its troubled Davyhurst