News

Iron ore prices have been on the rise amidst a turbulent start to the year for the global seaborne trade following the tragic events in Brazil arising from the Brumadinho tailings dam breach (reports Stockhead).

Iron ore prices have been on the rise amidst a turbulent start to the year for the global seaborne trade following the tragic events in Brazil arising from the Brumadinho tailings dam breach (reports Stockhead). A recent report by Wood Mackenzie has said, excluding the impacts on Vale, close to 8 million tonnes of seaborne iron ore supply from Brazil is at risk in 2019 as a result of new regulations which ban tailings dams built using the upstream method.

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Plus, Dateline highly-leveraged to impending drilling program at high-grade Colorado gold project

There was good news for the junior mineral sands players in the annual profit report from the mineral sands king of the ASX, Iluka. The report confirmed Iluka had enjoyed a 41% increase to $US1,351/t in its weighted average zircon price for 2018 while rutile pricing was 21% higher at $US952/t. Prices are currently higher than last year’s averages, with Iluka lifting its zircon reference price to $US1,580/t from October 1 last year for six months. Iluka said its customers had swallowed it with “positive” feedback, if that were possible.

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Two forgotten sectors of the Australian market made a return this week

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Top Melbourne fund manager Hedley Widdup from Lion Selection Group has likened current market conditions for junior miners to the early 2000’s , but has predicted a growing flow of money into the junior resource sector over the months and years ahead.

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Analysts have filed glowing reports following a site visit to Strandline Resources’ Tanzanian mineral sands projects. Among them was Hartleys head of research Trent Barnett, who says the stock is a buy. He has set a 22c price target, representing significant upside from the current price of ~10c. Strandline is in the throes of finalising funding for Fungoni, which is a “starter project” with low capital and operating costs and high rates of return.

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Plus, eager investors await next week’s presentation from Breaker Resources and Peel’s exceptionally high-grade zinc zone augurs well for maiden resource.

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Orion Minerals’ sales pitch to investors at Indaba also coincided with a big charm offensive by the South African Government this week to attract global investors back into its mining sector.

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Emerging mineral sands miner Strandline Resources is closing in on funding for its Fungoni project in Tanzania, with due diligence on its proposed debt facility on track for completion next month. Strandline revealed this week that the technical, financial and environmental due diligence process we well advanced as part of the mandate it awarded to Africa’s Nedbank late last year.

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