News

Plus, the bulls are running on Highfields’ Spanish potash project after receipt of environmental permit

Persistence in the Chilean coastal range is about to pay off handsomely for ASX-listed Hot Chili (ASX:HCH). It has just reported a top-40 porphyry copper-gold hit at its recently optioned Cortadera project, near the iron ore mining town of Vallenar and 700km north of Santiago. It’s a game-changer, but first some history.

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Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project

Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project in Tanzania following an extensive six-month due diligence process (reports MiningNews). The terms sheet for the five-year credit facility will meet a considerable amount of the project's capital requirements now estimated at $35 million, with Strandline describing the terms as "favourable". The pair is now working to finalise all conditions precedent, which will allow for the first draw-down.

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Perth broker Euroz has re-iterated its strong belief in Lucapa Diamond Company

Perth broker Euroz has re-iterated its strong belief in Lucapa Diamond Company (LOM), saying the stock is set to rise sharply on the back of expanding production. Euroz has set a buy recommendation on Lucapa with a price target of 61c, well ahead of its current price of 17c. London broker Panmure Gordon already has a 45c price target on Lucapa. Euroz says the recent US$10m sale of gems from the company’s Lulo project in Angola provides further evidence of the joint venture’s ability to self-fund a 50 per cent expansion of alluvial diamond mining operations.

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Pure Alumina (ASX: PUA) is on track to acquire one of the world’s most efficient and effective processes for making high purity alumina (HPA), according to the man who is poised to become the company’s new managing director, Scott Nichol (reports Stockhead). Nichol is the founder and chief executive of Polar Sapphire, the Canada-based company which owns this world-leading HPA technology. Pure Alumina is now in the process of acquiring Polar Sapphire and, as part of the deal, Nichol will become Pure Alumina’s managing director.

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Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war

Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war and adjusting portfolios ahead the end of the financial year. So much negative sentiment might reasonably have been expected to have helped gold stocks move up further than they did, especially given the strong flow of funds into physical gold and exchange-traded funds.

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Lucapa Diamond Company boss Stephen Wetherall knew he was in the den of gold investors when he took to the stage at last week’s Resources Rising Stars conference

Lucapa Diamond Company boss Stephen Wetherall knew he was in the den of gold investors when he took to the stage at last week’s Resources Rising Stars conference on the Gold Coast (reports Barry FitzGerald on Stockhead). So to give the punters a feel of how the high quality diamonds produced by Lucapa from its two African mines out shine gold on a value-for-weight basis, Wetherall did some conversion work for them. He noted that the 12,500 carats of diamonds in the last two sales from Lucapa’s mines fetched $20m.

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After the building comes the painting, an odd observation but one that could be profitable for investors prepared to look beyond trade-war headlines and see how the same building boom in China that is helping lift the iron ore price should soon lift demand for titanium dioxide (reports TimTreadgold in The Australian). Connecting the dots that link the China v US trade war to form a picture that shows increased demand for paint — and other “end of cycle” commodities such as copper — is not hard because it has happened repeatedly in the past.

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Sentiment in the junior mining space has reached “peak despondency” and could be ripe for a turning point, according to a respected fund manager (reports The West Australian). Delivering the keynote address at the Resources Rising Stars conference on the Gold Coast, Lion Selection Group investment manager Hedley Widdup says a resurgence in M&A activity at the major end of the resources sector could usher in growing interest in the junior end of the market as the big players go looking for growth.

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3rd Dec 2019

RRS Summer Series 2019 - Sydney Conference

One-day investor conference in Sydney on Tuesday 3 December 2019.

5th Dec 2019

RRS Summer Series 2019 - Brisbane Conference

One-day investor conference in Brisbane on Thursday 5 December 2019.

1st - 31st May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held in May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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