Plus, soaring gold price triggers big bounce in Millennium shares
There were many factors behind the 2017 Pilbara conglomerate gold bubble.
But what really pumped up things was one of the great mining promotional events of our time.
The September 2017 event was orchestrated by the lead company in the bubble, Canada’s Novo Resources Corp (TSX-V:NVO).
Novo organised what’s known in the TV game as a live cross from the Denver Gold Forum to its Purdy’s Reward conglomerate project near Karratha in the Pilbara, a 50:50 joint venture with the ASX-listed Artemis (ARV).
Load up with gold and head for the hills or rush into industrial metals and oil
Load up with gold and head for the hills or rush into industrial metals and oil. That seems to be your choice from Monday, when a new financial year kicks off and we’ll know whether Trump and Xi shook hands and smiled – or not!
The handshake the world wants to see could occur today or tomorrow when Chinese President Xi Jinping is expected to have a face-to-face meeting with US President, Donald Trump at the G20 summit in the Japanese city of Osaka.
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.
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.
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.
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.
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.
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.