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Genesis Resources (ASX: GES) jumped significantly after it announced results from rock chip sampling program on its Arltunga and Alice Springs exploration licences in its Arltunga goldfield.
Encouraging results were returned at Arltunga with multiple more than 10 grams per tonne (g/t) gold rock chip samples returned over multiple prospect areas. The best result was 28.8 g/t from previously un-named workings.
Follow up drilling is planned at this and other nearby prospects that are defined by old workings and high-grade rock chip samples over 5.0 g/t.
GES was up a staggering 460% to 2.8¢
Latitude 66 (ASX: LAT) was popular after it had entered into a binding agreement with Vox Royalty Australia for the sale of two non-core Australian royalty interests for a total cash consideration of $3.4 million.
The transaction includes Lat66’s interest in the Kalman Royalty in Queensland and the Sylvania Royalty in Western Australia.
MD, Grant Coyle, said rhe sale is a continuation of the company’s strategy to unlock value from non-core assets while directing capital and management attention towards its core gold and critical minerals portfolio in Finland and Western Australia.
He said the cash proceeds from the transaction will provide additional non-dilutive funding to support Lat66’s ongoing exploration and development activities, including advancing the KSB gold-cobalt project in Finland and Laverton Gold Project in WA.
LAT jumped 48.9% to 14.0¢.
Titan Minerals (ASX: TTM) was up after noting it had identified an extensive zone of shear and vein hosted gold-silver mineralisation in its latest diamond drilling at Dynasty gold project in southern Ecuador.
The company has now completed a 10,000m resource definition drilling program at the Cerro Verde prospect as it works towards a mineral resource update in early 2027.
“Our technical team are highly encouraged by these latest results, which have provided a breakthrough in our understanding of the major mineralisation pathways and controls at Dynasty. The discovery of this new style of shear hosted mineralisation is significant, with further drilling now planned to target repetitions and extensions to hosted mineralisation in the northwest structural corridor. Any additional mineralisation discovered in this area has the potential to materially enhance the resource,” CEO, Melanie Leighton, said.
LAT was up 15.5% to 67.0¢.
Looking wider, the S&P/ASX 200 opened higher today, gaining 25.50 points or 0.28% to 9,079.30, despite crossing below its 20-day moving average. The index has lost 1.19% for the last five days but sits 2.34% below its 52-week high.
The Minerals Council of Australia (MCA) says the nation has a real shortage of mining workers.
“We need qualified technicians, tradespeople, professionals. And so the shortage is, over the next three years alone, we need to add 2,000 mining engineers and metallurgists,” MCA CEO, Tania Constable, said.
“Ee need 3,000 production managers, 4,000 automation, control and processing engineers, and more than 4,000 diesel fitters.
Ms Constable highlighted the issue in just replacing people that are retiring and growing new skills coming through.
“It needs to be a balance of skills, but prioritising the skills that Australia needs to be able to grow the economy, that’s where the priority should be. And I don’t think that the government has done a good enough job at this stage consulting broadly across Australia with all industries to look at their needs.
“So, we’re asking for them to suspend their current suggested changes and go back and consult with all of our industries to make sure that we’ve got the right skills coming in. All we need over the next few years are a few thousand people with the proposed skills.”
That’s Thursday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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