News

Plus, Alkane’s latest result fuels hopes it may have a Cadia-esque find on its hands

The coronavirus has knocked the stuffing out of base metals prices, taking equity values for the producers and developers down at the same time. The likelihood is that when the terror of it all passes and everyone gets back to work, there will be a strong rebound in prices for the metals and equities, probably with the added bonus of a big dose of stimulus from Beijing. While the timing of all that is uncertain, the here and now for the sector’s equities is that there is now more value to be had for investors than there was before the thing began to spread from Wuhan.

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A new special series from Prospector’s Diary looks at four commodities and their key players. This first edition focuses on lithium.

Lithium returned back as an investment favourite last week, riding on the back of a super-charged share-price performance from leading electric car maker Tesla, leaving many investors questioning what’s the best way for them to re-join the lithium race. Lithium 101: Volcanic eruptions often begin with preliminary tremors, but knowing exactly when the earth’s surface might burst open is an event geologists can’t predict, they just know something big is on the way – or, might be on the way.

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Northern Star Resources has rewarded shareholders with a 7.5¢ fully franked interim dividend up 25 per cent on the 5¢ it paid last year...

Northern Star Resources has rewarded shareholders with a 7.5¢ fully franked interim dividend up 25 per cent on the 5¢ it paid last year (reports The West Australian). The juicier payout came on the back of a 54 per cent jump in net profit after tax in the first half to $126.8 million.

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Record gold prices have allowed Newcrest Mining to match last year's half year profit despite a 12 per cent slump in gold production volumes...

Record gold prices have allowed Newcrest Mining to match last year's half year profit despite a 12 per cent slump in gold production volumes (reports The Australian Financial Review). A weakening Australian dollar has combined with a flight to the traditional safe haven metal to create boom conditions for Australian gold miners like Newcrest, which has mines in New South Wales, Western Australia and Papua New Guinea.

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Sandfire Resources has withdrawn from an earn-in agreement in Alaska and signed a new exploration deal closer to its flagship DeGrussa copper mine...

Sandfire Resources has withdrawn from an earn-in agreement in Alaska and signed a new exploration deal closer to its flagship DeGrussa copper mine (reports MiningNews). The copper producer will withdraw from White Rock Minerals' Red Mountain zinc project in Alaska, after having spent A$8.5 million on exploration last year. While Sandfire will walk away without an interest in the project, it will remain an 11.3% shareholder in White Rock. White Rock said it would seek funding to explore the newly identified 15sq.km Last Chance gold anomaly.

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From the many hundreds of listed small cap explorers, barely a handful will become long-term success stories (reports Reuben Adams of Stockhead). But pick the right one as an investor and gains can be monumental. In early 2009, struggling explorer Sandfire Resources (ASX: SFR) discovered what would later become the world-class DeGrussa copper-gold mine, rapidly transforming its fortunes from a 4c penny stock into a ~$1bn mining company.

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Liontown Resources has reported a near-doubling of its resource at the Kathleen Valley lithium prospect...

Liontown Resources has reported a near-doubling of its resource at the Kathleen Valley lithium prospect, with another estimate due next month as feasibility work continues (reports MiningNews). The new 139 million tonne resource, grading 1.3% lithium oxide, is an 86% increase on the estimate made in mid-2019. Liontown said the reporting of interim resource estimate "followed a review of data from the ongoing drilling program which indicated that a previously announced resource extension exploration target of 25-50Mt at 1.2-1.5% Li2O would be materially exceeded".

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Centaurus Metals (ASX: CTM) has bitten into a thick zone of high-grade semi-massive to massive nickel sulphides at the Onça-Rosa prospect, within its Jaguar nickel project in northern Brazil (reports Bevis Yeo of Stockhead). Recent drilling has confirmed the down-dip extension of historical high-grade nickel sulphide mineralisation with a top result of 9.3m at 3.13 per cent nickel, 0.19 per cent copper and 0.08 per cent cobalt from 281.8m, Yeo said.

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26th - 27th May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held on the 26th & 27th May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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