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Plus, Canterbury holds its breath ahead of Queensland copper assays and Strandline’s big WA mineral sands project on track to secure funding from the Government’s Northern Australia Infrastructure Facility.

Demand for stock in Stavely Minerals’ (SVY) $19.6 million placement at a $1 a share in the wake of its high-grade copper hits at the Thursday’s Gossan project in Western Victoria was a staggering $100 million. Hits like 32m at 5.9% copper and individual assays of up to 40% copper have obviously fired up interest in the discovery, with Stavely only stopping at $19.6m because that was the threshold for proceeding without the need for shareholder approval.

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First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way.

First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way. J.P. Morgan was first to suggest that it might be time to take a fresh look at lithium stocks, followed by Morgan Stanley, which said a tour of Chile’s lithium industry revealed some ongoing uncertainty but that “downside risk is becoming more limited”.

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Pilbara Minerals (ASX: PLS) shareholders should feel confident their company is in the “right sub-set” of the lithium industry and is well placed to benefit from the “inevitable” improvement in the market

Pilbara Minerals (ASX: PLS) shareholders should feel confident their company is in the “right sub-set” of the lithium industry and is well placed to benefit from the “inevitable” improvement in the market when it comes, senior company executives told shareholders in Perth this week. At an EGM called to approve key aspects of a $55 million investment by Chinese battery giant CATL – part of a broader $112 million capital raising – Pilbara CEO Ken Brinsden said he was adopting a “glass half full” view of the outlook for the battery-making raw material. 

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Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens.

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens. A measure of the gap between strongly performing gold (and goldminers) could be gleaned from a unique mid-week piece of research by Macquarie Bank which looked at the damage done by the China v US trade war and past crises.

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TNG boss Paul Burton remains resolutely confident the company’s ambitious Mt Peake project in the Northern Territory is achievable despite its big budget, complexity and multiple moving parts (reports The West Australian).

TNG boss Paul Burton remains resolutely confident the company’s ambitious Mt Peake project in the Northern Territory is achievable despite its big budget, complexity and multiple moving parts (reports The West Australian). The company wants to establish a mine at Mt Peake 230km north of Alice Springs that will produce a magnetite concentrate. The material will then be railed 1100km north to Darwin, processed into three product streams including titanium dioxide pigment, vanadium pentoxide and a high-grade iron oxide and shipped to customers overseas.

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Fresh from a $2.2m capital raising and a 1-for-60 share consolidation, Marindi Metals (ASX:MZN) is ready to hit the ground running with a maiden drill program about to begin at its flagship Forrestania gold project in WA (reports Stockhead). Led by former Northern Star Resources (ASX:NST) chief geologist Simon Lawson, Marindi has been quietly working up a series of targets at the Kit Kat gold prospect, located within its extensive 700sqkm tenement package in the Forrestania belt.

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Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2.

Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2. It really was a case of “as well they might”.  The ASX lithium sector has been beaten up badly since the bid was announced.

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Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review).

Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review). CATL will pay $55 million for 8.5 per cent of Pilbara, under a placement that effectively values the Western Australian lithium exporter at $646 million. CATL makes electric vehicle batteries for car manufacturers like BMW, and is currently building a factory in Germany to supply BMW and other customers.

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