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NEWGENGOLD REVIEW

Yates revels in buoyant

exploration sector

ewGenGold co-organiser Keith Yates welcomed delegates Those prices had led to wide operating margins for producers
Nto the biggest event in the conference’s 26-year history who in turn have begun investing heavily in exploration.
by declaring the current gold exploration scene as one of the “The buoyant cash flows being experienced by gold producers
strongest in history. from increased production, revenues and consequent cash flows
“We are in the midst of one of the most substantial gold booms have resulted in a very substantial increase in gold exploration
in the nation’s history,” Yates said during his opening address to budgets,” Yates said.
an event which featured several high-profile discoveries from The strong gold price has also affected explorers with investors
Australia and overseas. ploughing cash into the junior sector.
“Since our last conference in November 2019, we have seen a “Smaller-sized explorers have benefited from a vastly improved
sustained rise in the US gold price from the vicinity of $US1,500/ investor sentiment, resulting in substantially increased amounts
oz to break through the $US2,000/oz mark for the first time and of funds raised,” Yates said. “It is also noteworthy that in the past
reach an all-time record high of $US2,067 on August 6, 2020; this two years the healthy cash flows and elevated fund raising has
is a far cry from the price of $US1,080 at this meeting in 2015 or resulted in an increased emphasis on greenfields exploration.
$US1,275 in 2017. This can only augur well for the discovery process.”
“The price stayed above $US2,000 for a few days before settling According to ABS statistics, gold exploration expenditure has
back and for the past 12 months it has broadly hovered around more than doubled since 2016/17, reaching $1.53 billion for
$US1,800 – still a very healthy price for producers.” FY2021.

Past & present

Conference Proceedings Book

available for purchase

Perth, Western Australia 9
November 12-13
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NewGenGold 2021 Case histories of discovery
Proceedings sponsor Proceedings sponsor Mitchelle Matambo
Case histories of discovery
Perth, Western Australia 9 Jointly organised by:
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November 12-13 on (+61) 8 9321 0355 or email
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