ASX:VAL

Valiant Gold Awards Contract for Power Station at Western Australia Gold Mine

Valiant Gold (ASX:VAL) progressed the restart of its Comet gold mine in Western Australia with the award of a contract to Silverstone Energy, which will supply and deliver a 6.1-megawatt site power station, according to a Wednesday Australian bourse filing.The power station is scheduled for delivery and commissioning in the second quarter of fiscal 2027.Valiant also ordered underground electrical infrastructure, including substations, distribution equipment, and dedicated starters for pumping and primary ventilation. Permanent pumping equipment has also been ordered as part of the planned dewatering system and primary ventilation equipment.Mine engineering, design, pricing and planning activities are continuing in parallel, it added.

Valiant Gold Says Western Australia Deposit Drilling Shows Continuation of Mineralized System

Valiant Gold (ASX:VAL) said assay results from the drilling program at the South Emu-Triton deposit within its Reedy gold project in Western Australia showed the continuation of the mineralized system, according to a Monday Australian bourse filing.The assays received for drilling included seven meters at 4.57 grams per tonne grade of gold from 861 meters and two meters at 11.49 g/t grade of gold from 872 meters.The diamond drill rig was mobilized from South Emu-Triton to the Boomerang gold deposit, alongside a second rig to undertake the maiden drill program targeting resource conversion.

Australian Shares Flat; Karoon Energy Cuts 2026 Production Guidance Due to Operational Issues at Joint Venture

Australian shares were flat on Tuesday after the Reserve Bank of Australia kept interest rates on hold as expected.The S&P/ASX 200 Index was little changed to close at 8,917.70.On Wall Street, the S&P 500 rose 1.7%, the Nasdaq Composite jumped 3.1%, and the Dow Jones Industrial Average closed at a record high, rising 0.9%.Brent crude oil futures fell just 0.3% to $82.96 per barrel.On the domestic front, the Reserve Bank of Australia decided to leave the cash rate target unchanged at 4.35%. The bank said financial conditions are now tighter following three rate increases since the beginning of the year, with signs that the economy is slowing as expected.However, inflation remains too high, prompting the bank's monetary policy board to leave the cash rate unchanged while assessing the impact of previous rises and the oil supply disruption.The ANZ-Roy Morgan Australian consumer confidence edged down 0.1 points to 70.7 in the week of June 8 to June 14. Household sentiment improved on personal finances and major purchases, even as confidence in broader economic conditions slipped amid escalating Middle East tensions, according to ANZ economist Sophia Angala.In company news, Karoon Energy (ASX:KAR) lowered its aggregate production guidance for the year to between 7.2 million barrels of oil equivalent (MMboe) and 8.2 MMboe from a previous range of 8.1 to 9.2 MMboe. The downgrade is a result of operational issues at the company's Who Dat joint venture, which operates a namesake oil and gas field in the Gulf of Mexico.Atlas Arteria (ASX:ALX) said that IFM Global Infrastructure Fund subsidiary Diamond Infraco 1 and its affiliates raised their stake in the company to 38.26% from 34.48% as of Monday. IFM Global now holds 555.3 million securities of the company.Lastly, Valiant Gold (ASX VAL) said assay results from its maiden drilling program at the South Emu-Trito mine in Western Australia confirmed mineralized extensions to around 400 meters below the existing resource.

Valiant Gold's Drilling at Western Australia Mine Confirms Mineralization Extensions; Shares Gain 9%

Valiant Gold (ASX VAL) said assay results from its maiden drilling program at the South Emu-Trito mine in Western Australia confirmed mineralized extensions to around 400 meters below the existing resource, according to a Tuesday filing with the Australian bourse.The results include 34.2 meters at 2.97 grams per tonne grade of gold from nearly 1,008 meters; 9.5 meters at 1.71 g/t gold from 1044.5 meters; 10 meters at 1.27 g/t gold from 1064 meters; seven meters at 2.37 g/t gold from 1,078 meters; and 20.1 meters at 1.92 g/t gold, per the filing."We will now transition to infill drilling of the known orebody to support future upgrades of inferred material to indicated so that we can progress towards expanded mine planning and restart studies for future production at South Emu-Triton," said Valiant CEO Brendan Tritton.The company's shares gained 9% in recent Monday trade.

Argonaut Securities Starts Valiant Gold at Speculative Buy with AU$0.63 Price Target