Commodities have soared in recent weeks – think aluminium – and in recent months – think oil – amid signs of global synchronised growth and strategists say there's still time to profit, even though some prices have overshot near term (reports the Australian Financial Review).
Newly-established Australian gold producer Red 5 (ASX: RED) maintained its guidance of 85-95,000oz for 2018 and is expecting 18-23,000oz in the June quarter after a hiccup last quarter impacted output and associated costs (reports Miningnews).
North American gold company Novo Resources said bulk sampling of conglomerate gold ground in the Pilbara region has been slower than expected due to rock hardness and other issues, although the company has recovered 80 nuggets in its maiden 7.1-tonne bulk sample processed in Perth (reports Miningnews).
Gold explorer Breaker Resources (ASX: BRB) may have missed the market on its maiden 624koz resource estimate this week, but the result provides a “good foundation” for the project that is “very much a starting point”, says leading Australian broker Bell Potter.
Perth broker Euroz Securities says Mineral Resources’ (ASX: MIN) scrip offer of 3c-a-share equivalent represents a good premium on the recent trading price of Atlas Iron (ASX: AGO), which has been sold off in line with the falling iron ore price and widening low-grade discount.