Exploration spend of ASX resource companies reaches record high – report
New data by independent researcher Austex into the cash flow of 733 ASX-listed resource companies has shown that total exploration expenditure reached a record A$974-million in the fourth quarter of 2021,
up from A$845-million in the third quarter of last year, and A$563-million a year ago.
“Austex’s analysis of Appendix 5B reports illustrates the industry’s commitment to finding new mines to create jobs, royalties and benefits to the local community,” said Association of Mining and Exploration Companies CEO Warren Pearce.
In the fourth quarter of 2021, 733 ASX resource companies submitted cash flow reports, up from 693 companies in the third quarter of 2021. Total capital raisings increased to a record A$3.17-billion, a 37% increase from the A$2.312-billion raised in the third quarter of 2021 and A$1.823-billion in the fourth quarter of 2020.
Seven of the companies raised more than A$100-million, with 63 raising more than A$10-million, and 229 companies raising more than A$1-million.
Austex Resource Opportunities founder Rob Murdoch said that the significant growth in capital raisings was a promising indicator of the ongoing strength of the resources sector, investors’ confidence in future discoveries being made, and is in response to a rising string of demand for resources of all types.
The 733 ASX-listed companies earned total revenue of A$1.2-billion in the quarter. Total production costs incurred were A$736-million, resulting in a total cash flow gain from revenue-producing activities of A$542-million.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
