News

A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets

A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets. First observers to spot the feature, also known as a “rounding bottom” on graphs which track the world’s economy, were analysts at the investment bank, Morgan Stanley. In a report on the health of global manufacturing, the end-market for Australia’s natural resource exports, the bank asked earlier this week: “Did April mark the bottom for manufacturing purchasing managers indices?”

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And speaking of De Grey, Fraser Range pops up as a neighbour, adding another string to its bow...

Leonora gold explorer/developer Kin Mining is back on the radar after Kerry Harmanis of Jubilee Mines nickel fame took the opportunity presented by Kin’s recent capital raising to increase his stake from 15.2% to 17.1%. Harmanis is the guy who built Jubilee from a spec stock to the $3.1 billion company that Mick Davis’ Xstrata took over in 2007. To Harmanis’ credit, he has continued to be a supporter of junior explorers ever since. Kin (ASX:KIN) has been one of those.

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The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold...

The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold. Encouraging as the public health news might be, the reality is that the global economy has taken a fearsome pounding with a very real risk of regression into extended lockdowns and double-dip downturns for countries which rush their return.

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The conditions that have slowed growth in WA’s lithium sector won’t last forever and there are some great opportunities for companies taking the long-term view (reports Tim Treadgold in Business News). The state government’s dream of creating a world-class technology metals industry based on abundant supplies of lithium, nickel and rare earths has not been killed by COVID-19, but the disease is a factor in what could be a dramatic transformation.

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Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence

Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence, with fingers crossed that the trend can continue. Chalice Gold led the way with a 50c (80%) rise to 99c after releasing fresh results from its Julimar nickel and palladium discovery near Perth, a find with the potential to become Australia’s first palladium mine.

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The significant pullback in US auto stocks creates an opportunity for investors to own long-term growth names including Tesla and other companies exposed to electric vehicles, Goldman Sachs says (reports Bloomberg).

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It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors...

It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors, but what happened in those countries this week is the latest example of how a supply cuts are helping support commodity and share prices. Both closures, the Cobre mine in Panama and Mopani in Zambia, were caused by concern about coronavirus infections as well as the low copper price, adding to a theme of outages and shortages, especially in the uranium sector, explored in this column last week.

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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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