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The Sandfire Spanish Acquisition

23rd September 2021

It’s Tempranillo all round as El Simich solves miner’s big problema with purchase of long-life copper asset on attractive terms

Sandfire Resources (SFR) has had a problem ever since an exploration hole in May 2009 overseen by a young geologist, Margaret Hawke, hit bonanza copper grades in WA’s Bryah Basin. It was nice problem to have as the near-6% copper hit – along with good gold values – at the DeGrussa prospect always meant the find would be developed quick smart. And it was, with first production in 2013, and the nearby Monty deposit discovery in 2015 chiming in with its high-grade feed from 2019.

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FitzGerald

Growing fears over China debt burden creates opportunities for those willing to buy against trend

23rd September 2021

Buy when others are selling. It’s one of the oldest pieces of investment advice and its one that Karl Simich and Andrew Forrest put into practice this week with copper and nickel deals.

Buy when others are selling. It’s one of the oldest pieces of investment advice and its one that Karl Simich and Andrew Forrest put into practice this week with copper and nickel deals. Simich, chief executive of Sandfire Resources, took the WA-based company he leads into Spain via the $1.2 billion acquisition of the Matsa mining complex. Forrest, chairman of Fortescue Metals Group, boosted his private stake in a Canadian nickel explorer to 37.3% through the conversion of a loan into shares in what could be the knock-out blow in a fight with BHP for Noront Resources.

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Prospector’s Diary

Finlayson starts from the beginning with Genesis

23rd September 2021

Raleigh Finlayson is set to follow the lead of gold mining peer Bill Beament by taking the helm of a junior explorer and emerging with a substantial stake by pumping funds into its coffers (reports The West Australian).

The former Saracen Mineral Holdings boss will join gold play Genesis Minerals as managing director next year and will kick in $7 million of his own cash as part of a broader $20.8m funding package announced by the company yesterday. Mr Finlayson’s foray into Genesis mirrors the recent move by former Northern Star Resources boss Bill Beament, who joined aspiring copper play Venturex Resources as managing director and became the major shareholder by investing $37.3 million into the explorer.

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Market Insights

Sandfire outlines case for expanded Motheo project

23rd September 2021

Sandfire Resources has boosted the economics of its proposed Motheo copper project in Botswana after establishing a maiden reserve for its A4 deposit and outlining an expanded production profile (reports The West Australian).

The Karl Simich-led company this morning announced a 114,000t copper reserve at A4 that it said would allow it to boost throughput at Motheo from 3.2 million tonnes per annum to 5.2Mtpa. The results of a pre-feasibility study on the expanded Motheo hub showed it would lift production from 30,000 tonnes per annum to more than 50,000tpa over a 10-year mine life.

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Market Insights

Wall Street keen on exposure to future facing metals

23rd September 2021

Venturex Resources managing director Bill Beament says global investors are hungry for exposure to future facing commodities (reports MiningNews).

Beament previously ran ASX 100 gold miner Northern Star Resources, but now leads copper-zinc developer Venturex (soon to be renamed Develop). He is also an advisor to special purpose acquisition company (SPAC) Metals Acquisition Company, run by Venturex director Mick McMullen, which recently raised US$250 million and listed in New York. It is one of a number of SPACs focused on clean metals. SPACs are currently banned on the ASX, but Beament predicted they would suck talent out of the Australian market.

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Market Insights
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6th September 2021

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24th September 2021

Breaker Resources

Bombora gets bigger and deeper with higher grades

24th September 2021

Centaurus Metals

Step-out drilling at Onça Preta deposit hits +30m of semi-massive and massive nickel sulphides

24th September 2021

Kairos Minerals

New gold targets identified at Mt York Project

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