Robust Aurelia takes on Peak

THE near-death experience three years ago for NSW gold and lead-zinc producer Aurelia Metals has been well chronicled, writes Barry FitzGerald.

Robust Aurelia takes on Peak Robust Aurelia takes on Peak Robust Aurelia takes on Peak Robust Aurelia takes on Peak Robust Aurelia takes on Peak

Not so well chronicled has been its bounce back to robust health – something signalled loud and clear with its recent deal to acquire the Peak gold and copper operation near Cobar from Canada’s New Gold for US$58 million.

Aurelia expects to get the keys to the Peak in the next couple of weeks. When added to its Hera-Nymagee operation, 100kms south-east of Cobar, Aurelia will become a 100,000 to 125,000oz a year gold producer, or 185,000-210,000ozpa on a gold equivalent basis (FY2019).

As Newcrest’s Cadia gold-copper operation in NSW, and Evolution’s gold stream from Glencore’s Ernest Henry copper-gold mine in Queensland demonstrate, having base metal by-products can work wonders on the cost of gold production.