News

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after.

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after. A sharp rise in the oil price earlier this week to more than $US74 a barrel was largely a function of international events, including a fresh threat from Iran to blockade the narrow Strait of Homuz at the western end of the Persian Gulf in retaliation against US sanctions.

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Fast-talking Karl Simich allowed himself a moment of slow-paced reflection at Sandfire’s recent analyst call on the group’s March quarterly report

Fast-talking Karl Simich allowed himself a moment of slow-paced reflection at Sandfire’s recent analyst call on the group’s March quarterly report (reports Barry FitzGerald on MiningNews). The Sandfire CEO's attention had turned to business development and the status of the opportunity Sandfire has had on its books since 2014 - the Black Butte copper project in Montana. Black Butte stands as a 600,000t high-grade copper resource with cobalt and silver credits.

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The latest analysis by Bank of America Merrill Lynch analysts suggests new copper developments will not swamp the market and create an oversupply situation any time soon (reports MiningNews). The analysts do not expect ‘base case' projects moving through the development phase now to upset long-term copper market balance. They were aware of market concerns about an avalanche of supply creating surpluses and price weakness, but said: "We disagree.

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Plus, Strandline hints at sale of a stake in large WA mineral sands project and South Africa Inc lines up to back Orion’s base metals project   

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Gold down, iron ore up - perhaps with a lot further to go. In a nutshell, they were the highlights of an Easter holidays-shortened week on the Australian stock market.

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Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers

Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers. But how long the good times can last is a critical question for investors. Few analysts are prepared to stand in the way of the surging iron ore price, which this week hit a five-year high of $US95 a tonne, driving share prices up sharply, with most hitting fresh highs.

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A 10 million-tonne copper supply gap is forecast to open up through 2035

A 10 million-tonne copper supply gap is forecast to open up through 2035, CRU senior analyst Hamish Sampson has told the World Copper Conference during a session examining factors determining the long-term outlook for copper and the copper price (reports MiningNews). "[Brownfield] expansions will keep pace with demand until early next decade ... but as demand increases to 22.5Mt by 2025 the gap will be 2.5Mt and then it will quadruple as production from existing operations falls to 15Mt," he said. Last year copper production was 20.9Mt.

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Sydney-based institutional broker Blue Ocean Equities has upgraded its recommendation on copper-zinc developer Venturex Resources (ASX: VXR) to “Top Pick” and lifted its price target for the stock to 70c – a healthy premium to its closing price on Friday of 21.5c. Blue Ocean analyst Steuart McIntyre – who made some big (and accurate) early calls on stocks like Pilbara Minerals (ASX: PLS) and Dacian Gold (DCN) – said in a new research note released last week that Venturex is pursuing two key opportunities which could “materially enhance” its value proposition.

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3rd Dec 2019

RRS Summer Series 2019 - Sydney Conference

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