URGENT UPDATE: New insights from mining expert Simon Lill reveal that Western Australia is teeming with undiscovered gold deposits. Lill, former chairman of De Grey Mining, made headlines in 2020 when his team unearthed the massive Hemi deposit in the Pilbara region, which currently holds over 11 million ounces of gold.
With gold prices skyrocketing to a historic high of over $5,200 per ounce, the timing couldn’t be better for gold exploration. Lill confirmed that this lucrative environment has set the stage for further discoveries, emphasizing that “there’s plenty more gold to be found in the red WA dirt.” He noted that Ballard Mining, the newly formed company he’s now chairing, is already sitting on more than one million ounces of gold, and ongoing exploration could reveal even more.
The recent acquisition of De Grey by Northern Star for $5 billion highlights the growing interest in Western Australia’s gold sector. This deal has not only provided De Grey with substantial financial backing but also earned Lill the prestigious Dealer of the Year award during the 2023 Diggers and Dealers Mining Forum in Kalgoorlie. The conference’s organizers hailed De Grey Mining as a benchmark of excellence, stating, “Exceptional market validation driven by resource expansion and investor anticipation.”
In a compelling statement, Lill noted the misconception stemming from the past, saying, “If it’s under-explored, there ain’t nothing there… I think the gold industry has proven that is wrong.” His confidence underscores the potential for new discoveries in regions previously thought to be fully explored.
Ballard Mining’s proximity to a processing plant owned by the privately-held Aurenne Group may lead to strategic discussions about acquisition, further enhancing their operational capabilities. The $5 billion surge in gold prices has stirred a wave of mergers and acquisitions, making it a hot topic among industry leaders at the forum.
Additionally, Ramelius Resources recently made headlines by completing a $2.4 billion acquisition of Spartan Resources, further solidifying their position as a leading player after achieving a record production of 301,664 ounces last financial year. This showcases the outstanding performance and robust health of the mining sector.
With the mining forum wrapping up, excitement lingers in Kalgoorlie, where industry professionals gathered to celebrate achievements and discuss future prospects. As gold exploration heats up, all eyes will be on Western Australia, where the promise of gold continues to thrive.
Stay tuned for more updates on these developing stories as the gold rush in WA evolves.
