News

Perth broker Hartleys has upgraded its 12-month price target for base metal developer Venturex Resources’ (ASX: VXR) to 55c-a-share in the wake of a landmark $100 million term sheet for senior debt funding for its Sulphur Springs copper-zinc project

Perth broker Hartleys has upgraded its 12-month price target for base metal developer Venturex Resources’ (ASX: VXR) to 55c-a-share in the wake of a landmark $100 million term sheet for senior debt funding for its Sulphur Springs copper-zinc project in WA. Hartleys resource analyst Paul Howard says Sulphur Springs is one of “a handful of quality global base metal development stories” and the timing of its development is “still compelling” despite some recent slippage.

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South Africa faces an uphill battle to restore its reputation as an international mining destination, with investors hesitant to back projects there after years of policy upheaval (reports The Australian).

South Africa faces an uphill battle to restore its reputation as an international mining destination, with investors hesitant to back projects there after years of policy upheaval (reports The Australian).

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6th September 2019

Tiddler Valor Resources is turning its gaze towards the Western Australian Goldfields with an agreement to acquire an interest in the high-grade Radio mine near Southern Cross in Western Australia (reports MiningNews). Valor's Berenguela copper-silver-manganese project in southeast Peru was recently joint ventured out to Rio Tinto's Kennecott Exploration Company, and with that project in hand it is looking to establish a gold revenue stream by early 2020.

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Sunstone Metals managing director Malcolm Norris and his team believe they are on the cusp of a world-famous exploration hattrick. The team is already credited with finding the SolGold Cascabel and Intrepid Mining’s Tujuh Bukit deposits which have made many hundreds of millions of dollars for investors, Norris can now smell another major find at Sunstone’s Bramaderos project in Ecuador.

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Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.

Copper producers are rightly feeling a bit glum, most of them anyway. Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb. That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb. As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.

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Venturex listed on the ASX just before the markets went completely pear-shaped in 2009-2010 (reports Stockhead). Junior explorers were hit particularly hard, and Venturex (ASX:VXR) was forced to rationalise its portfolio and preserve cash as the value of equities plummeted and capital vanished from the markets. So it’s fitting that the company is currently developing a copper-zinc project, called Sulphur Springs, which is designed to be robust at any stage of the price cycle.

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29th August 2019

Sandfire Resources managing director Karl Simich says now is a time of significant opportunity in the global base metals sector (reports MiningNews).

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The Big Australian’s success is also good news for nearby tiddler Investigator Resources. Plus, NSW copper producer Aeris Resources hits back at market doubters with some exceptional drilling results.

If a junior exploration company had said it, it would have been dismissed as a bit of hype. But in the case in question, it was BHP boss Andrew Mackenzie, a scientist of note, as him being a fellow of London’s Royal Society (think Darwin and Einstein) tells you. Speaking after the release of BHP’s 2019 profit this week, Mackenzie got a little excited when talking about the group’s Oak Dam discovery in South Australia’s Gawler Craton.

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