News

New World Resources has intercepted massive copper sulphides and a new thick offshoot of mineralisation at its Antler copper project in the US state of Arizona (reports Stockhead).

New World Resources has intercepted massive copper sulphides and a new thick offshoot of mineralisation at its Antler copper project in the US state of Arizona (reports Stockhead). The intercepts from recent drilling are some of the best New World Resources (ASX:NWC) has encountered to date at its Antler project, managing director, Mike Haynes, said.

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Venturex among big winners as bumper copper price and placement to Bill Beament put strong wind in its sails. Caravel and Orion also pick up speed.

The red metal copper has become the white-hot metal. It has surged from an average of $US2.50/lb in the June half of last year to $4.20/lb. It’s a level not seen since the 2011 height of the China-led mining boom and is a response to tight supply at a time of optimism around economic growth and the demand surge coming from the battery-powered revolution in the electrification of transport and the decarbonisation of stationary power.

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Feeding frenzy or supercycle? That is the question which dominated the thinking of seasoned market watchers this week as everything (well, almost everything) went up and the rotation out of precious metals into industrial commodities gathered pace.

Feeding frenzy or supercycle? That is the question which dominated the thinking of seasoned market watchers this week as everything (well, almost everything) went up and the rotation out of precious metals into industrial commodities gathered pace. Management moves, often seen at this stage of a sea-change in the commodity sector, also caught the eye of investors, especially the planned shift of Northern Star’s executive chairman, Bill Beament, for something smaller and presumably more fun.

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Bill Beament has wasted no time turning to his next challenge after bedding down the $16 billion merger of his Northern Star Resources with Saracen Mineral Holdings (reports The West Australian).

Bill Beament has wasted no time turning to his next challenge after bedding down the $16 billion merger of his Northern Star Resources with Saracen Mineral Holdings (reports The West Australian). Mr Beament, who will transition to the role of non-executive chairman of the merged entity in July, has thrown his cash and weight behind Pilbara explorer Venturex Resources and its Sulphur Springs copper-zinc project. In a move that will transform its share register, Mr Beament will invest $37.3m in the low-profile company as part of a broader $58m funding package.

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Sandfire Resources has posted a 78 per cent jump in first-half profit to $60.8 million on the back of higher copper prices and strong operational performance at its flagship DeGrussa operations (reports The West Australian).

Sandfire Resources has posted a 78 per cent jump in first-half profit to $60.8 million on the back of higher copper prices and strong operational performance at its flagship DeGrussa operations (reports The West Australian). Revenue was up 14 per cent to $355.6m, supported by the rising copper price, which reached an eight-year high of $US8000 a tonne in December and has continued to climb since. The copper miner declared an interim dividend of 8¢ a share, up from 5¢ previously. Sandfire held cash of $335.8m at the end of December.

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Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade (reports The Australian Financial Review)

Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade, with base metals surging to multi-year highs and oil making one of its strongest starts to any year in at least the past 30 (reports The Australian Financial Review).

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Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps).

Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps). The placement will strengthen RareX’s cash and liquid position to approximately $11.25 million, with the new funding to be used to progress its growth strategy in the global rare earths sector.

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A 100km-long zone is the copper target as DGO Gold (ASX: DGO) begins drilling on prime South Australian ground owned by Investigator Resources (ASX:IVR) as the first stage to earning an 80% stake in the project (reports Small Caps).

A 100km-long zone is the copper target as DGO Gold (ASX: DGO) begins drilling on prime South Australian ground owned by Investigator Resources (ASX:IVR) as the first stage to earning an 80% stake in the project (reports Small Caps). The project, Pernatty, lies 55km southwest of the Carrapateena copper-gold mine operated by OZ Minerals (ASX: OZL).

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