News

Plus, there is a buzz around Rumble’s impending zinc-lead assays and IGO prepares to start drilling at Boadicea’s Fraser Range plot.

The copper stocks weren’t in need of a confidence boost with the red metal continuing to trade at more than $US4.10-/lb. They got one anyway during the week when Goldman Sachs made the call that copper was necessarily on the path to an eye-watering $US6.80/lb in 2025. It was based on a familiar thematic – copper is essential to global decarbonisation and that after a couple of years of supply surplus caused by new production from mines being built now, a chronic supply deficit emerges.

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Gold tried to rise this week, with limited success, leaving the best gains to energy in its many forms,

Gold tried to rise this week, with limited success, leaving the best gains to energy in its many forms, led by oil but with lithium and other members of the battery-metal family (including copper) not far behind. Because so many Australian investors are exposed to gold it’s worth having a look at the changing dynamics of the gold market. These could put a floor under its price, which has dropped by 16% over the past nine months to latest trades at $US1738/oz.

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Copper is so crucial in electrifying the global economy that finding enough of it has become a US national security issue, according to mining magnate Robert Friedland (reports Bloomberg).

Copper is so crucial in electrifying the global economy that finding enough of it has become a US national security issue, according to mining magnate Robert Friedland (reports Bloomberg).

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16th April 2021

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews).

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews). After peaking at over US$2000 an ounce in August 2020, gold has fallen as low as $1683/oz last month. It currently sits at about $1747/oz.

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Heavyweight global investment bank Goldman Sachs has upgraded its recommendation for mid-tier copper producer Sandfire Resources

Heavyweight global investment bank Goldman Sachs has upgraded its recommendation for mid-tier copper producer Sandfire Resources (ASX: SFR) from neutral to a BUY on the back of higher base metal forecasts, raising its price target to $7.60-a-share. The news prompted an immediate 6% lift in Sandfire shares yesterday to over $5.80, though still well short of the revised Goldman Sachs target.

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Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian).

Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian). Shares in the company stacked on 7.5 per cent on Tuesday and a further 5.8 per cent on Wednesday to an all-time closing high of $6.21, giving it a market capitalisation of nearly $2.15b.

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Plus, nothing in DGO share price for exploration programs now underway and Australian Strategic Minerals winning strong support for its downstream processing play.

Anyone in need of a Pink Floyd cover band to help celebrate a stock market killing would be best advised to contact Coda Minerals (ASX:COD) boss, the bass-playing Chris Stevens. Pink Floyd cover bands are few and far between. The same can said about copper-focussed junior explorers on the ASX. And that is what the musically-named Coda is after its IPO in October last year which pulled in $8.5m at 30c a share to fund the copper hunt, initially at its Elizabeth Creek project in South Australia’s Olympic Dam province.

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Coda Minerals (ASX:COD) has expanded its portfolio of Australian copper projects with its planned acquisition of a project for copper and gold in Queensland near Mount Isa (reports Stockhead).

Coda Minerals (ASX:COD) has expanded its portfolio of Australian copper projects with its planned acquisition of a project for copper and gold in Queensland near Mount Isa (reports Stockhead). The company has entered into a farm-in and joint venture agreement to pick up an 80 per cent stake in the Cameron River project which has peak grades of 22 per cent copper.

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