News

6th September 2019

Tiddler Valor Resources is turning its gaze towards the Western Australian Goldfields with an agreement to acquire an interest in the high-grade Radio mine near Southern Cross in Western Australia (reports MiningNews). Valor's Berenguela copper-silver-manganese project in southeast Peru was recently joint ventured out to Rio Tinto's Kennecott Exploration Company, and with that project in hand it is looking to establish a gold revenue stream by early 2020.

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Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.

Copper producers are rightly feeling a bit glum, most of them anyway. Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb. That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb. As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.

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There aren’t many explorers capable of raising $18m right now, but Liontown (ASX:LTR) is having a hell of a year

There aren’t many explorers capable of raising $18m right now, but Liontown (ASX:LTR) is having a hell of a year (reports Stockhead). As lithium prices circle the drain, the WA small cap darling has consistently defied market sentiment. The stock is still up 331 per cent since the start of 2019. This is an aggressive timeline, with the immediate focus on completing a pre-feasibility study (PFS) by the end of 2019.

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Picking winners in a flat market is not easy but over the past week there has been a sector swimming against the tide - small oils.

Picking winners in a flat market is not easy but over the past week there has been a sector swimming against the tide - small oils. Once a favorite among Australian investors, and still quite large when you look beneath the dominance of a handful of mega-oilers such as Woodside and Santos, the small oil sector was almost universally up last week when almost everything else was down.

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Mineral Resources has revealed more problems with the much-hyped Wodgina lithium project that is subject to a $US1.3 billion deal with global battery metals giant Albemarle (reports The Australian Financial Review). Chris Ellison-led Mineral Resources said on Thursday that it has suffered significant delays in building the spodumene concentrator at the Wodgina lithium mine, mainly due to having replace faulty valves.

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More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm

More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm. His forecast is great news for those juniors with large nickel deposits awaiting development, such as the Jaguar project just acquired by Centaurus from Brazilian giant Vale. Plus, Venturex’s $100m debt deal sets it up to become one of the few ASX-listed copper producers. The display of oomph at last week’s Diggers & Dealers conference in Kalgoorlie was not restricted to the gold stocks.

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Global financial wobbles reinforced the case for gold this week

Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell. Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.

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Electric vehicles, and the wider battery revolution, is held up as a massive opportunity for nickel, tin, graphite and lithium players, and now a new report shines a light on how much copper will be needed: 250% more by 2030. Wood Mackenzie forecasts that over 20 million EV charging points could to be deployed over the next needed, and that means the world needs to produce around 2.5 times more copper by 2030 than it will this year - and that means a lot of money needs to be spent to find and produce it.

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