News

Meanwhile in Ecuador, anticipation builds around a possible BHP or Newcrest bid for SolGold and Sunstone looks set to rise on back of Bramaderos project.

There is a bunch of hopefuls on the ASX looking to become producers of high purity alumina (HPA), which is set to enjoy super-charged growth in demand for its use in LED lighting and as a heat separator in lithium-ion batteries. But it is FYI’s planned $198m integrated project in WA – it envisages the Cadoux kaolin mine 220km north-east of Perth supplying a HPA refinery at Kwinana – that has got the interest up of the king of metal-grade and chemical-grade alumina production, Alcoa. As far as project endorsements go, FYI could not have hoped for a better one.

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Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks.

Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks. Best in class was undoubtedly Chalice Gold Mines, which continued its stellar run as analysts and investors gained a greater insight into its emerging Julimar platinum group metals (PGM) discovery near Perth.

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Most metal prices, including gold, crept higher during the week but the big news in the Australian resources sector could be found in a strong flow of discovery and development news

Most metal prices, including gold, crept higher during the week but the big news in the Australian resources sector could be found in a strong flow of discovery and development news, supported up by a flood of fresh capital. If there was a weakness it was in iron ore where a chorus of investment banks are forecasting one last solid quarter before a long downhill slide which will take the steel-making material back from this week’s peak of $US130 a tonne to below $US90/t.

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Veteran geologist Neil Biddle is coming up to 40 years of knocking around the hard-rock exploration scene.

Veteran geologist Neil Biddle is coming up to 40 years of knocking around the hard-rock exploration scene. So after his success with fellow geologist John Young and accountant Tony Leibowitz in creating Pilbara Minerals ($750 million) and Bardoc Gold ($140m) before letting operating guys pick up the reins, Biddle’s thoughts naturally enough turned to a prolonged period of rest and recreation.

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Cashed-up explorer DevEx Resources (ASX:DEV) is having a red-hot go in coming weeks and months at completing a trifecta for exploration enthusiast Tim Goyder (reports Stockhead).

Cashed-up explorer DevEx Resources (ASX:DEV) is having a red-hot go in coming weeks and months at completing a trifecta for exploration enthusiast Tim Goyder (reports Stockhead).

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The European Union has issued a plan to cut its dependence on Chinese supplies of rare earths, lithium batteries and solar-cell components, as it tries to build a green-energy economy that isn't largely made in Beijing (reports the Fin Review))

The European Union has issued a plan to cut its dependence on Chinese supplies of rare earths, lithium batteries and solar-cell components, as it tries to build a green-energy economy that isn't largely made in Beijing (reports The Australian Financial Review). Brussels will bring industry, governments and NGOs into a "European Raw Materials Alliance", which will refashion the continent's supply chains for up to 30 critical products - including those used to make wind turbines, fuel cells, solar panels, magnets, drones and batteries for electric vehicles.

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Macquarie Research has initiated coverage on Chalice Gold Mines (ASX: CHN) with an outperform rating and $1.80 price target

Macquarie Research has initiated coverage on Chalice Gold Mines (ASX: CHN) with an outperform rating and $1.80 price target, describing its Julimar nickel-PGE discovery in Western Australia as “one of the most significant greenfield discoveries in recent years”. Macquarie says it believes that drilling has already defined a deposit at the Julimar project, located ~70km north-east of Perth, that could underpin a ~270kozpa PGE operation with ~20ktpa of nickel-copper-cobalt by- products.

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Plus, DGO cleaning up on its 16% stake in De Grey and Firefly in a halt pending gold assays

Given De Grey Mining’s multi-million ounce Hemi gold discovery in the Pilbara, it’s not hard for a junior with exposure to gold exploration in the region to have a market cap of $50 million. And it’s not hard for a junior with a WA iron ore deposit and plans to become a boutique producer of the material to also have a $50m market cap, such is the allure of cashing in on $US127/t prices.

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