Across in the Sandstone region, Harmanis is also a player in the...

Across in the Sandstone region, Harmanis is also a player in the likely rationalisation of gold resources owned by juniors that analysts expect will kick off before long.

Harmanis’ player status comes from his 12.3% stake in Gateway Mining (ASX:GML). It is trading at 1.8c which gives it a modest market cap despite its Gidgee project emerging as a high-grade gold camp.

Gateway already has a 240,000oz gold resource under its belt and it has flagged that there will be an upgrade to the figure, as well as maiden estimates at new deposits, by the end of the year.

While it can work away at establishing a bigger resource to support a stand-alone mine development, the whole process could be sped up through a consolidation of resources with those held by others to underpin a central processing plant.

Gateway will be in the thick of things should a consolidation of the Sandstone region get underway. Other players would be Horizon Gold (ASX: HRN, 35c), Alto Metals (ASX: AME, 8c), and Alto’s failed takeover suitor, Middle Island (ASX: MDI, 9.5c).