News

Brazil’s descent this week into a full-blown Covid-19 crisis should ensure ongoing super profits for Australia’s iron ore miners as the price of the steel-making material rises back above $US170 a tonne.

Brazil’s descent this week into a full-blown Covid-19 crisis should ensure ongoing super profits for Australia’s iron ore miners as the price of the steel-making material rises back above $US170 a tonne. The potential for continuing Brazilian supply shortfall, when combined with strong worldwide demand for steel, could easily see iron ore challenge last month’s near-record high of almost $US180/t. What’s happening in iron ore was not expected. Most investment banks had been forecasting a price fall as supply rose and Chinese steel demand peaked.

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Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian).

Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian). Shares in the company stacked on 7.5 per cent on Tuesday and a further 5.8 per cent on Wednesday to an all-time closing high of $6.21, giving it a market capitalisation of nearly $2.15b.

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Investors are scrambling to secure exposure to uranium amid growing evidence that the market is tightening rapidly, setting the scene for significant price rises (reports Stockhead).

Investors are scrambling to secure exposure to uranium amid growing evidence that the market is tightening rapidly, setting the scene for significant price rises (reports Stockhead). And now a new report from influential North American broker Sprott has named Boss Energy (ASX:BOE) as the “premier next-in-production uranium developer”. Boss increased its exposure to the uranium market substantially last week when it raised $60 million to buy a large uranium stockpile.

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WA Government coffers are set to reap further benefits of elevated iron ore prices for longer, according to global ratings agency S&P, which has upgraded its long-range forecast for WA’s powerhouse commodity (reports The West Australian).

WA Government coffers are set to reap further benefits of elevated iron ore prices for longer, according to global ratings agency S&P, which has upgraded its long-range forecast for WA’s powerhouse commodity (reports The West Australian). Investors in the Pilbara’s biggest iron ore players can also expect more bumper dividends after S&P on Friday increased its price assumptions for the steel-making ingredient from $US100 a tonne to $US130/t for the rest of the year. It also lifted its forecast for prices heading into 2022 from $US80/t to $US100/t.

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After a thorough review, RareX (ASX: REE) will begin a major drilling program later this month, which is designed to test a new geological model at its flagship Cummins Range rare earth element project in Western Australia’s Kimberly (reports Small Caps).

After a thorough review, RareX (ASX: REE) will begin a major drilling program later this month, which is designed to test a new geological model at its flagship Cummins Range rare earth element project in Western Australia’s Kimberly (reports Small Caps). The upcoming program will comprise up to 6,000m of reverse circulation and diamond drilling and will follow up on newly identified targets.

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It’s been a long time since uranium caught the eye of mainstream investors but in a shortened pre-Easter week when the price of almost everything else was trending down, it was time for the love-hate nuclear fuel to shine (or should that be glow!).

It’s been a long time since uranium caught the eye of mainstream investors but in a shortened pre-Easter week when the price of almost everything else was trending down, it was time for the love-hate nuclear fuel to shine (or should that be glow!). Second-tier investment banks and stockbrokers such as Shaw and Partners have been banging the uranium drum for several months with buy tips on most uranium explorers, including this week’s positive recommendation on Peninsula Energy, which has a promising U.S. project.

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1st April 2021

Strandline Resources is poised to make a final investment decision on its Coburn mineral sands project near Shark Bay after completing the funding puzzle for the development with a $122 million raising (reports The West Australian).

Strandline Resources is poised to make a final investment decision on its Coburn mineral sands project near Shark Bay after completing the funding puzzle for the development with a $122 million raising (reports The West Australian). The project is expected to create 300 jobs during construction, 150 jobs in operation from the second half of next year and bring $922m in benefits to a region not known for mining investment.

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Strandline Resources will raise $122 million to complete the funding puzzle for its Coburn mineral sands project near Shark Bay (reports The West Australian).

Strandline Resources will raise $122 million to complete the funding puzzle for its Coburn mineral sands project near Shark Bay (reports The West Australian). The company this morning flagged a $39m placement along with an $83m, one-for-1.3 rights issue priced at 20.5¢, representing a 9 per cent discount to its last traded price of 22.5¢. The new cash will combine with a $150m loan facility from the Northern Australia Infrastructure Facility and $80m from a senior secured bond issue to complete the funding for the $260m Coburn project.

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