Sunstone Metals’ second hole at its Limon prospect in Ecuador was a “winner” and showed “all the signs of a typical porphyry system,” says Patersons analyst Xavier Braud.
Sunstone announced this week that the second hole at Limon, which sits in the company’s Bramaderos Project, intersected a “very encouraging interval of porphyry-related mineralisation with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide)”.
Plus, investors’ eyes turn to PolarX as the new field season beckons
The Kambalda nickel camp is stirring again some 53 years after WMC (acquired by BHP in 2005) drilled the KD1 discovery hole, with Mincor boss David Southam positioning the company to be in the thick of things.
The Vietnam War and prolonged nickel mine strikes in Canada underpinned the nickel price spurt which led to WMC’s breakthrough discovery at Kambalda, 60km south of Kalgoorlie.
And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline
FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference.
And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla.
Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.
The dead hand of Australian politics took a firm grip of the stock market
The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel.
Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.
Following a string of positive news in its March quarterly and the recent positive election results in South Africa with the re-election of the ANC, base metals developer Orion Minerals (ASX: ORN) is set for a “number of positive” catalysts at its flagship Prieska zinc-copper project in South Africa – according to Sydney-based institution broker Petra Capital.
Hartleys has maintained its accumulate recommendation for Sandfire Resources
Hartleys has maintained its accumulate recommendation for Sandfire Resources but cut its 12-month price target to $7.36 from $8.17 after another good quarter by the copper miner (reports The West Australian).
Sandfire’s biggest challenge is the depletion of its flagship DeGrussa mine, near Meekatharra, which needs a new discovery to extend its life past 2022.
Hartleys noted the recent release of a draft environmental impact statement for Sandfire’s 86 per cent-owned Black Butte copper project in Montana.
Despite an increasing amount spent on exploration copper discoveries have fallen away, according S&P Global Market Intelligence (reports MiningNews).
Exploration spend over the past 10 years totalled US$25.8 billion, well above the $15.4 billion allocated from 1990 to 2008. Yet, that spend yielded 102.4 million tonnes of copper in 21 major discoveries, compared with 992.5Mt in 199 discoveries in the preceding 19 years.
Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week
Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week thanks to a high-priced takeover bid from Wesfarmers for lithium project developer, Kidman Resources, and a plan to re-open the mothballed Ravensthorpe nickel project.
Both moves demonstrated a return of confidence in battery metals and for the overall health of the broader market for minerals and metals.