News

Those being nibbled, with some success, it must be said, include Legend Mining, Bardoc Gold, Alice Queen and Strandline Resources.

There are tentative signs that bottom feeders are stepping up their activity in the junior exploration/developers space. They are nibbling away at those stocks with smashed values (all of them) but which stand out as leveraged plays to the upside thanks to their quality projects and because they have the cash to make things happen. The step-up goes to the idea that as explorers are explorers, and future developers are future developers, they don’t have to worry about the widespread impacts and uncertainties caused by COVID-19 like the miners do.

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Outages, shortages and mine closures are emerging as an important price-moving factor in the resources sector, with uranium making a surprise return to the winner’s circle this week...

Outages, shortages and mine closures are emerging as an important price-moving factor in the resources sector, with uranium making a surprise return to the winner’s circle this week thanks to a major mine in Canada being mothballed for at least a month. While not in the same league as last year’s outage events in the Brazilian iron ore industry, which put a rocket under the iron ore price, the Covid-19-caused loss of uranium supply from Cameco’s Cigar Lake mine gave the nuclear fuel a 15% price boost.

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Northern Star had a rough day out when it updated the market on the production impact of the unavoidable disruption caused by the COVID-19 pandemic...

Northern Star had a rough day out when it updated the market on the production impact of the unavoidable disruption caused by the COVID-19 pandemic, and how it was protecting itself from the worst-case scenario of prolonged mine closures (reports Barry FitzGerald on MiningNews). The overriding aim of the update was to demonstrate the company was on top of the critical need to protect its people and its corporate self, and those who live in its host communities in Western Australia and Alaska, from the dangers posed by the pandemic.

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The Kambalda nickel restart plan unveiled by Mincor Resources (ASX: MCR) last week in its much-anticipated Definitive Feasibility Study (DFS) announcement has received positive reviews from key brokers covering the stock...

The Kambalda nickel restart plan unveiled by Mincor Resources (ASX: MCR) last week in its much-anticipated Definitive Feasibility Study (DFS) announcement has received positive reviews from key brokers covering the stock. Sydney-based institutional broker Petra Capital has maintained its BUY recommendation and set a $1.00-a-share target price for Mincor (current price: 49c), after incorporating the DFS results and revised (post-COVID) nickel price and foreign exchange assumptions.

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3rd April 2020

Pilbara Minerals claims its “moderated production strategy” is working with the company delivering improved recoveries, reduced costs, steady sales and a small increase in cash at bank for the March quarter...

Pilbara Minerals claims its “moderated production strategy” is working with the company delivering improved recoveries, reduced costs, steady sales and a small increase in cash at bank for the March quarter, although production was a smidge below guidance of 35,000-50,000 tonnes (reports MiningNews). An estimated 33,893t of spodumene concentrate and 33,998 pounds of tantalite concentrate were shipped during the quarter with the company matching mine production and available stocks to customer. Sales in the December quarter were 33,178t.

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Venturex Resources has received the all-important nod of approval from the EPA after the WA Government body completed its assessment of the Sulphur Springs copper-zinc project in the Pilbara...

Venturex Resources has received the all-important nod of approval from the EPA after the WA Government body completed its assessment of the Sulphur Springs copper-zinc project in the Pilbara (reports The West Australian). The EPA has now submitted a detailed report to the Minister for the Environment, making the positive recommendation for the company’s flagship mining project to proceed.

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3rd April 2020

Wood Mackenzie believes the disruptions in the copper market will escalate as the COVID-19 pandemic unfolds (reports MiningNews). Major copper producing countries Chile and Peru have called a state of emergency, with mines forced into suspension for at least 15 days. WoodMac said a 15-day shutdown of copper mines in those countries would see 1.5% of supply removed from the market this year. "However, we believe there is a significant risk that disruptions will escalate, and breach 5% this year," WoodMac research director Nick Pickens said.

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Gold stocks are in the spotlight as the precious metal rallies, the Australian dollar falls and low yields bolster bullion's attractiveness as an investment (reports The Australian Financial Review). Three leading brokers have highlighted their favourite gold stock picks amid renewed strength in the precious metal and as the weak Australian dollar boosts cash flows, though travel restrictions in Western Australia could challenge production.

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