Heavy Rain Keeps Pressure on Australian Gold Miners -- Market Talk

Dow Jones03-21

2307 GMT - Regis Resources and Gold Road Resources are now likely to achieve only the lower end of their production guidance, reckons UBS, which attempts to unpack the effect of heavy rainfall in Western Australia on local gold miners. Both miners say they have been affected by the deluge. Regis, for example, said mining at the Tropicana operation was suspended due to heavy rain and its plant is processing ore from stockpiles and its underground mine. "Underground operations of Bellevue Gold and Genesis Minerals may have escaped interruption," analyst Levi Spry says in a note. "While Northern Star has not reported any weather related impacts, we note Northern Star's almost exclusive WA footprint would likely have had some exposure and it does have 2H weighted production." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

March 20, 2024 19:07 ET (23:07 GMT)

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