Largest Aussie Gold resource?

[So_Cynical]

Just wondering if someone knows what ASX listed company has the
largest single mine gold reserves ...u know in ground "JORC compliant"

Also whats the largest "JORC compliant" reserves for a single ASX
listed company.

Thanx

 

[kgee]

At a guess newcrest mining

 

[Whiskers]

I would say Barrick and Newmont through their 50/50 partnership in Kalgoorlie Consilidated Gold Mines P/L, the Super Pit. KCGM isn't listed, but the half share of Barrick and Newmont must be up there with the biggest.

Don't know what the current resource is, but KCGM have mined abt 50m ozs and still going at abt 850,000 ozs/yr.

http://www1.superpit.com.au/pages/about_kcgm.asp

 

[bean]

A good question, It MUST be who is unhedged,
And the stock that benifits more from the rise in POG.

 

[So_Cynical]

Well Bean i was sorta looking to see if i missed anything....and thinking
about what company's would benefit most from a rising POG..thinking that
a high JORC would be very SP relevant.

Perhaps your question is more relevant, witch 1 or 2 or 3
company's are best "positioned" to take advantage of a
rising (trend) POG

This would mean unhedged and mostly/fully financed...theres
very few that fit the bill i would think.

 

[bvbfan]

Just wondering if someone knows what ASX listed company

Lihir would have a fair whack of resources, not converted to reserves.
I'm thinking about 50million ounces

 

[So_Cynical]

Lihir would have a fair whack of resources, not converted to reserves.
I'm thinking about 50million ounces

Yes your about right...i had no idea and i hold Lihir shares.

Quote from Lihir web site
The Lihir ore body is very large and rich by global standards, with an estimated 40 million ounces
in resource including 23.6 million ounces in reserves. The Ballarat operation is an advanced exploration
project with 1.4 million ounces in resource and 9.2 million ounces in exploration potential.

 

[macca]

You could also just buy stock code GOLD

That will never run out and always follows the US gold price adjusted to AUD.

HTH

 

[refined silver]

The question is only really relevant when compared to Market Cap.

Eg Lihir is 50moz with a $6b MC. Newcrest has 58m oz I think for more than $12b 9haven't done figures after their recent $2b hedge buyout and dilution.

Citigold (CTO) has 10m oz resources for fully diluted MC of $300m. According to their website they have largest and highest grade gold deposit in Qld, and one of Australia's largest. (I own shares )

Bendigo (BDG) has 11m oz resources for fully diluted MC of $180m (but of course has had many problems) (I did own shares )

DYODD

 

[So_Cynical]

You could also just buy stock code GOLD

That will never run out and always follows the US gold price adjusted to AUD.

HTH

heres an interesting chart GOLD, LGL (Lihir) and TRY (Troy)

LGL and TRY both out performing ASX:GOLD....or am i missing something.?

 

[So_Cynical]

Citigold (CTO) has 10m oz resources for fully diluted MC of $300m. According to their website they have largest and highest grade gold deposit in Qld, and one of Australia's largest. (I own shares )

Yep im holding as well. and topped up recently.

 

[macca]

Hi So C,

NO, I don't see how you are missing anything.

If we look at August then GOLD was above the stocks.

Like everything, just depends when you look at what you want.

If spec money dries up or the stock you are holding gets flooded or has a cave in, then you may have a dud on your hands

With GOLD you remove the individual risk and are left with the price of Gold and the AUD/USD fluctuations.

I would expect each investor to decide on what suits them, I was simply highlighting the GOLD option.

Good luck with CTO, hope it works for you.

 

[refined silver]

Exactly.

A good gold stock should outperform the metal in the long term, (and also outperform it on the downside if Au drops in price)

Having more than one gold co spreads risk, but yes, its a case of greater risk to hope for greater reward.

 

[So_Cynical]

Thanks Macca and Silver, well explaned and taken on board.

 

[chewy]

As to the question "what ASX listed company has the largest single mine gold reserves" that would surely have to be Lihir - and by a fair way too. The Lihir island ore body is freakin huge by anyones standard with something like a 40 year mine life too.

 

[explod]

Exactly.

A good gold stock should outperform the metal in the long term, (and also outperform it on the downside if Au drops in price)

Having more than one gold co spreads risk, but yes, its a case of greater risk to hope for greater reward.

Yep, some of the penney dreadfuls went up 100 fold. However would you like to rethink the dollar effect?

The aussie has been going down the last few weeks resulting in gold in aussie going up. As the US$ dollar has been going down these last six years, so gold has been going up.

 

[explod]

Exactly.

A good gold stock should outperform the metal in the long term, (and also outperform it on the downside if Au drops in price)

Having more than one gold co spreads risk, but yes, its a case of greater risk to hope for greater reward.

Yep, some of the penney dreadfuls went up 100 fold in 1979/80. However would you like to rethink the dollar effect?

The aussie has been going down the last few weeks resulting in gold in aussie going up. As the US$ dollar has been going down these last six years, so gold has been going up.

 

[Flying Fish]

As to the question "what ASX listed company has the largest single mine gold reserves" that would surely have to be Lihir - and by a fair way too. The Lihir island ore body is freakin huge by anyones standard with something like a 40 year mine life too.

I agree, but still risks with that one