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AUSTRALIAN GOLD REVIEW

First gold has Calidus

ready for action

Calidus will produce 90,000 ozpa gold from Warrawoona when
the Pilbara project hits full production later this year

by Dominic Piper beyond the existing mine life is coming from,” Reeves told
GMJ.
Much of 2021 was tough for gold developers as the spot
ith first gold imminent, Calidus Resources Ltd price stagnated and investors became more enamoured
Wmanaging director Dave Reeves is intent on sticking with in-demand battery minerals such as lithium and nickel.
to the approach which has served his company so well over However, the turn of the year has seen a distinct shift with
the last 18 months. Calidus shares alone up 73% since September 30. With first
Calidus has reached the brink of producer status via the gold expected in May, Reeves expects another step-change
meticulous delivery of project development at its Warrawoona before 2022 is out.
asset near Marble Bar in the Pilbara, Western Australia. It “A month ago, I would have agreed with you that it’s been
may not be a headline-grabbing strategy but having spent a tough 12 months but we always said we would get a re-
most of his career building mines, Reeves knows it will rating on first gold and as we close in on that mark we are
eventually prove a winning one. starting to see it,” Reeves said. “We are receiving a lot of
“The share price movement after pouring of first gold can inbound interest, especially from funds because they can
be significant, especially if you can also show where growth see that we are not going back to the market; the only way

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