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Gold
Bid : 3,085.13/oz
Ask : 3,094.38/oz
Silver
Bid : 36.90/oz
Ask: 37.01/oz
Platinum
Bid: 1,372.37/oz
Ask : 1,408.05/oz
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Ausgold purchases WA farms to advance Katanning gold mine development

September 16, 2023

In a bold move to progress its flagship project, mining major Ausgold has made its biggest acquisition yet – over 1,000 hectares of prime farmland near Katanning. The seven-figure purchase opens up possibilities for the explorer’s long-awaited Katanning gold mine, which has been a vision over a decade in the making.

Ausgold CEO Matt Greentree reveals the acquisitions were a major strategic play. “Securing this land unlocks our potential to deliver a robust mining operation and the financial rewards that come with it,” he shares. With feasibility studies now well underway, Greentree targets an ambitious 18-month timeframe to pour first gold. Local job opportunities are also on the cards, with 150 roles projected to boost the local economy.

Of course, transitioning rich soils from agriculture to industry comes with growing pains. But Greentree is adamant on respecting community concerns. “We don’t want to disrespect locals or the identity of the area. Consultation has been top priority as we develop plans together,” he stresses. Reassuringly, some farmland will remain, acting as a buffer between mining zones.

With exploration licenses now spanning across connected titles, Ausgold is in prime position to take its Katanning gold story mainstream. Yet fundraising will be needed to cross the finish line – their $12 million capital raise this year demonstrated appetite but more dollars are required. Greentree remains undaunted: “We’re pushing full steam ahead. Exciting times are ahead as this deposit comes to life.”

For wheat farmers turned investors in the district, embracing new industries may seem a risky proposition. But as nearby Ramelius reveals with its resurrected Tampia mine, mining and farming can peacefully co-exist when developed with community consent. Progress leaves the door open for farming’s return – a win-win the Wheatbelt seems ready to embrace.

Only time will tell if Ausgold’s gold play pays rich dividends. But with a fighting spirit and farmers’ support, their vision of mining prosperity for Katanning edges ever closer to reality.

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