West Wits Mining plans a 17-hole diamond drilling programme at its Bird Reef Central uranium-gold project in Johannesburg, starting by the end of November this year. The contracted drilling totals 5,750m across a 4km strike of the Bird Reef package, with holes spaced about 250m apart and reaching 100 to 400m deep. The programme aims to support an initial uranium mineral resource estimate and improve the existing gold resource, which stands at 1.38 million tonnes at 2.66 grams per tonne, containing 117,600 ounces, with about 65% classed as measured or indicated. The drilling will be funded from existing cash reserves, with results from each of three phases expected progressively through the first half of 2027.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/26/2026 | 4,017.27 |
| Change that session | +0.54% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- White Gold Intersects 2.73 g/t Gold over 21.8m, including 4.18 g/t Gold over 8.8m, Extending VG Deposit High-Grade Mineralization 120m Down-Plunge to 350m and Expands the Ryan's Surprise Deposit Mineralization by 50m to the East and 50m to the West Intersecting Multiple Stacked Lenses of Gold Minera
White Gold Corp. (TSXV: WGO) reported more results from its fully funded 2026 diamond drill program at the White Gold Project in Yukon, Canada. Hole QV26-025 at the VG deposit cut 2.73 g/t Au over 21.75m, including 4.18 g/t Au over 8.80m, extending mineralization to about 350m down-plunge and roughly 40m west of the prior hole QV26-024; the company says it is the strongest intercept ever drilled at VG below 125m vertical depth. At Ryan's Surprise, the first five holes intersected multiple stacked gold lenses, extending the system about 50m to both the east and west. The 2026 program comprises 53 holes totalling roughly 18,810 metres, the company's largest ever, with assays pending for 44 holes. The recently published preliminary economic assessment (PEA) reported an after-tax NPV of C$1.86 billion, a 41% IRR and a 1.5-year payback at a base-case gold price of US$3,600/oz.
- Harmony Gold’s 2027 Outlook: Record $1 Billion in Free Cash Flow and a Dividend That Nearly Quintupled
Harmony Gold (HMY) has a Superscore of 77 out of 100, placing it in the Strong band, with shares at $15.83 after falling about 3% over the past year. For fiscal 2026, revenue rose 34% to R99.2 billion, net profit more than doubled, and adjusted free cash flow reached roughly $1 billion, while the final dividend was raised from 155 to 750 South African cents. Much of the cash is going into copper, including the CSA mine, which produced 18,207 tonnes in its first year under Harmony, and the Eva Copper project under construction, with copper reserves up 71% to 4 million tonnes. The article also flags risks such as fatal safety incidents in South Africa, all-in sustaining costs of $2,195 per ounce, and political and regulatory exposure in South Africa and Papua New Guinea.
- Lions Bay Resources Agrees to Be Acquired by Metals One to Form South Africa-Focused Gold and Power Business Led by Former CEO of the Nation's Largest Gold Producer
Lions Bay Resources (LBR) has signed a binding term sheet under which Metals One Plc (AIM: MET1; OTCQB: MTOPF) would acquire the LBR interests it does not already own, making LBR a wholly owned subsidiary on completion. The deal replaces a June 30, 2026 structure in which Lions Bay Capital Inc. (TSXV: LBI) would acquire 100% of LBR. It brings LBR's South African gold and power business into Metals One and is intended to provide capital market access for developing the Barbrook Gold Mine, which has a historical gold resource of 2.1 million ounces and an existing processing plant; a phased plan targets initial gold concentrate output within six months. LBR also owns a Newcastle cogeneration plant with a 6 MW steam turbine, independently valued at US$39.6 million. Completion of the Barbrook acquisition awaits final judgment in business rescue court proceedings held on October 12, 2026, and Graham Briggs, former CEO of Harmony Gold, is proposed as Chair of Metals One.
- UPDATE: Golconda Gold Releases Q3 2026 Production Update at Galaxy
Golconda Gold reported record quarterly gold production of 4,301 ounces at its Galaxy Gold Mine for Q3 2026, up 18% from Q2 2026 and 20% from Q3 2025. CEO Ravi Sood said the company set records for ore tonnes mined and processed and for development metres. He attributed the gains to recent investment in underground mining equipment and surface infrastructure, which improved equipment availability and mining cycle efficiency, and expects further improvements in the fourth quarter of 2026. The company is an unhedged gold producer and explorer with operations in South Africa and New Mexico.
- What the budget means for South Africa economic outlook
- SA inflation Increases to 4 . 5 % in September
South Africa's annual consumer price inflation edged up to 4.5% in September from 4.4% in August, according to Statistics SA, driven mainly by transport, housing, utilities and financial services. The figure came in below market expectations. Investec Chief Economist Annabel Bishop said it is unlikely on its own to prompt an interest rate hike at the November MPC meeting, noting that inflation has stayed above the SA Reserve Bank's 3% target for some time due to very high fuel prices, a supply-side issue. The government is leaning on capital spending, with infrastructure investment set to grow 5.2% over the medium term, the fastest-growing item in the national budget. President Cyril Ramaphosa said infrastructure is a key driver of growth, benefiting manufacturing, logistics and other sectors.
Related markets
Latest news
- World Bank's Banga: Availability of capital 'not really an issue' as AI demand drives up borrowing costs
World Bank President Ajay Banga told CNBC that capital remains available despite concerns that AI demand is pushing interest rates higher, calling it "not really an issue." He said the World Bank mobilized $112 billion last year, around three times the amount recorded three years earlier, and that emerging markets are not showing the same hesitancy because their investments focus on infrastructure such as bridges and roads, while developed economies need funding for large AI use cases. Banga noted that investors may be concerned about circular financing and the AI business model, but he still believes AI will be transformative and profitable, though "everybody sees bumps in the road from here to there." He also said the private capital the World Bank oversees does not go to governments, which helps it avoid fears of debt crisis and rising bond yield challenges.
- Better Defense Stock to Own Through 2030: Palantir vs. RTX Corporation
The article compares Palantir (PLTR) and RTX Corporation (RTX) as two ways to invest in rising global defense spending. Palantir's software helps defense and intelligence agencies gather and coordinate information; its second-quarter revenue rose 93% year over year (U.S. commercial up 149%, U.S. government up 90%), and it raised full-year guidance. However, the stock trades at a trailing P/E of 168 and competes with established technology providers. Of 30 analysts, the average rating is a moderate buy, with target prices for the next year between $80 and $265. RTX, through Raytheon, Pratt & Whitney and Collins Aerospace, supplies missile defense, military engines and aircraft components; its third-quarter sales rose 11%, its record backlog reached $340 billion including $164 billion in defense orders, and its P/E is 31. The article argues Palantir suits growth investors who accept a high valuation, while RTX is the more balanced option given its established earnings, diversification and dividend.
- Santoli: We are nearing a now-or-never moment for the AI trade to rebound
The S&P 500 has moved sideways for months, while former AI leaders (tracked by the iShares AI Innovation ETF) fell 35 percentage points relative to the equal-weight S&P 500, recovered half, then gave back most of the bounce. Higher bond yields and oil above $100 a barrel have pressured cyclical sectors, and tighter debt markets are raising hurdle rates for marginal AI data-center borrowers. Goldman Sachs cited trader exhaustion, noting the momentum-factor basket moved at least 5% in a day 30 times in 2026. John Kolovos of Macro Risk Advisors says sentiment is nearing a “fat pitch” for a tactical rebound, but the macro backdrop must cooperate, and hedge funds have sharply cut leverage and tech exposure. Citadel Securities data show retail investors heavily buying dips, yet past market bottoms came when retail traders were net sellers, so any rebound may prove limited in strength and durability.
- Big Tech Is About to Report. Nvidia Investors Should Watch One Number.
Microsoft and Alphabet will report quarterly results on Oct. 28 after the close, and Amazon on Oct. 29. Because these three companies are Nvidia customers, the article says Nvidia investors should watch capital expenditures (capex). Microsoft gave capex guidance of $175 billion for fiscal 2027, Alphabet expects 2026 capex of $195 billion to $205 billion, up from an earlier $180 billion to $190 billion, and Amazon raised its cash capex forecast by $20 billion to $220 billion. Nvidia reported that its latest quarterly revenue rose 106% to $96 billion, with more than 90% from data centers. The article says rising capex or signs of sustained heavy spending would be positive for Nvidia, while any slowdown would be negative in the short term.
- What’s Driving Strong Q3 Momentum for Meta Platforms (META)
Renaissance Investment Management's Large Cap Growth Strategy highlighted Meta Platforms (META) as a strong performer in the third quarter of 2026, a period in which the S&P 500 rose 2.3%. According to the letter, Meta launched its Muse consumer AI agent in September, with an app that offers integrated feeds and can act on the user's behalf, and early App Store results suggest Meta is becoming an early leader in monetizing its AI investments. As of October 26, 2026, META closed at $630.56, a market capitalization of $1.61 trillion, down 4.47% year to date, with a 52-week range of $520.26 to $779.82. At the end of the second quarter, 254 hedge fund portfolios held META, compared with 262 in the prior quarter, and it ranked fifth on a list of 40 most popular hedge fund stocks heading into 2026.
- VND 1,600 billion in dividends set to flow to VRG shareholders
VRG (GVR, HoSE) plans to pay about VND 1,600 billion in cash dividends for 2025 at a 4% rate, or VND 400 per share, based on 4 billion outstanding shares. The last registration date is November 11, 2026, with payment expected on December 10, 2026. The Ministry of Finance holds 96.77% of voting shares, about 3.87 billion shares, and is expected to receive over VND 1,548.3 billion in dividends. In the reviewed consolidated financial statements for the first half of 2026, net revenue reached over VND 15,927.7 billion (up 37.7%) and net profit exceeded VND 4,947.4 billion (up 68.6%), completing 187% of the full-year after-tax profit plan of VND 2,644 billion.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.