News

Plus, Canterbury holds its breath ahead of Queensland copper assays and Strandline’s big WA mineral sands project on track to secure funding from the Government’s Northern Australia Infrastructure Facility.

Demand for stock in Stavely Minerals’ (SVY) $19.6 million placement at a $1 a share in the wake of its high-grade copper hits at the Thursday’s Gossan project in Western Victoria was a staggering $100 million. Hits like 32m at 5.9% copper and individual assays of up to 40% copper have obviously fired up interest in the discovery, with Stavely only stopping at $19.6m because that was the threshold for proceeding without the need for shareholder approval.

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First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way.

First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way. J.P. Morgan was first to suggest that it might be time to take a fresh look at lithium stocks, followed by Morgan Stanley, which said a tour of Chile’s lithium industry revealed some ongoing uncertainty but that “downside risk is becoming more limited”.

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Sunstone Metals' drilling at the Limon prospect in Ecuador has interested more shallow mineralisation, with a 59m-thick mineralised blanket grading 0.16% copper, including 13.3m at 0.43% copper and 0.11 grams per tonne gold from 58m, providing more evidence of a major porphyry source , albeit expected to be deeper than expected at more than 500m below the surface (reports MiningNews).

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Plus, success for Stavely and Alkane spark renewed interest in Eastern States exploration, talk suggests European Cobalt may be heading for Aussie gold and Meteoric poised to deliver eagerly-awaited assays on its Brazilian gold play.

A diamond being the ultimate item of discretsionary expenditure, there should be no surprise that diamond prices have been down in the dumps. Fears of global economic recession overlain with the threat of trade wars is not exactly conducive to buoyant demand and pricing for the sparklers. It is why the few listed diamond producers that exist around the world have being doing it tough on the share price front.

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Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens.

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens. A measure of the gap between strongly performing gold (and goldminers) could be gleaned from a unique mid-week piece of research by Macquarie Bank which looked at the damage done by the China v US trade war and past crises.

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Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead).

Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead). The new hole is 160m south of the discovery hole targeting the Thursday’s Gossan prospect. It returned assays of 8m at 9.69 per cent copper, 0.4 grams per tonne gold and 16.8g/t silver from 177m down-hole along with a shallower but thicker intercept of 59m at 1.8 per cent copper, 0.43g/t gold and 15.4g/t silver from 98m.

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First drilling of the Mars prospect at PolarX’s Alaska Range project has hit porphyry-style veins containing visible copper, with the junior saying it was looking forward to further results from the “very exciting” target (reports MiningNews). PolarX is excited because of the potential significance of any discovery given "the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the geophysical anomalies at Mars". Assays are also awaited for potential gold content.

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Plus, Red 5 poised for promotion to the next league of ASX gold producers. And Macquarie sees short-term bullish catalysts for commodities.

Stavely Minerals (ASX:SVY) has added a stunning second leg to its big-time copper hunt in the shadows of the Grampian Ranges in western Victoria, with the first hole in a new shallow-focussed drilling program assaying up to 40% copper. The spectacular hit was made at the Thursday’s Gossan prospect, with the diamond drill hole specifically targeting shallow and structurally controlled mineralisation within the Ultramafic Contact Fault (UCF).

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Gold Coast Conference

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