Australian gold explorer Calidus soars most in 6 years on new resource, outlook

Calidus Resources

27/10/2023 02:26

** Shares of gold explorer Calidus Resources  CAI.AX  soar
as much as 43.8% to A$0.230, marking their biggest intraday pct
jump since Aug. 16, 2017
    ** CAI at its highest level since April 18; on track for a
second straight day of gains, if trend holds
    ** More than 3 mln shares change hands, vs the 30-day
average of 578,803 shares
    ** Co announces maiden inferred mineral resource at Bulletin
deposit of 832,000 tonnes for Warrawoona gold project in Pilbara
    ** Adds resource offers "exceptional upside to the
production and cost outlook"
    ** Also says production and all-in-sustaining-costs to
significantly improve in 2H24
    ** Costs forecast to be lower in 2H due to lower strip
ratios - less waste to be removed to expose ore for mining
    ** Adds co on track to meet FY24 gold production guidance of
65,000 to 75,000 ounces
    ** CAI down 40.7% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))