News

Uranium tried to snatch the headlines this week courtesy of intervention by the US President, Donald Trump

  Uranium tried to snatch the headlines this week courtesy of intervention by the US President, Donald Trump, but it was a far richer American, Ray Dalio, who picked the winner when he said gold was the place to be in an unstable world. Ranked as the world’s 58th richest person with a fortune estimated at $US18.4 billion, Dalio is the founder of Bridgewater Associates, one of the world’s biggest investment funds, and not a person who has previously been associated with gold.

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And speaking of leverage, PolarX is about to drill some deep holes into a highly-rated porphyry target courtesy of North American major Lundin

Newbie gold producer Dacian (DCN) served up some shock back in early June when it told the market that it should forget about its Mt Morgans operation being a 200,000 oz a year producer for 10 years at a cost of $A1,000 an oz. Its June 5 stock price crashed from $1.58 to 51c, catching everyone in the market – and this space – on the hop. To the credit of executive chairman and CEO Rohan Williams, Dacian has wasted no time getting back to the market with a five and an eight-year mine plan and a stated intention of not raising equity funds to see it through.

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The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates

The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates and base metals declining because lower rates signal slowing economic activity. Much of what’s just happened could set the tone for the rest of the year with the US expected to make deep cuts into its interest rates, especially if the trade war with China worsens.

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Dacian Gold has embarked on the road to rehabilitation, with a new long-term plan for its Mt Morgans project near Laverton (reports The West Australian).

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Plus, Marenica buys straw hats in uranium winter

Sunstone (ASX:STM) had a big day out on Tuesday when it updated the market on drilling progress at its multi-target Bramaderos project in southern Ecuador, well away from all the drama up north where 10,000 garimpeiros are said to have overrun a Gina Rinehart exploration property. More than 30 million shares were traded and the stock fell from 4c to 3c on the progress report, with day-trader types, who had presumably taken up positions in the hope of a one hole-discovery, heading for the exit.

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Get out your crowbars, Sunstone Metals (ASX:STM) is about to prise open the core of a potentially big copper-gold porphyry system

Get out your crowbars, Sunstone Metals (ASX:STM) is about to prise open the core of a potentially big copper-gold porphyry system in Ecuador (reports Stockhead). The company revealed today results from a second hole at the Limon prospect, part of the larger Bramaderos project, delivered a hit of 267m at 0.05 grams per tonne (g/t) gold, 750 parts per million (ppm) – or 0.08 per cent — copper and 22ppm molybdenum. This includes a 14m intercept at the bottom of the hole that recorded 0.1g/t gold, 0.2 per cent copper and 41ppm molybdenum.

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Plus, soaring gold price triggers big bounce in Millennium shares

There were many factors behind the 2017 Pilbara conglomerate gold bubble. But what really pumped up things was one of the great mining promotional events of our time. The September 2017 event was orchestrated by the lead company in the bubble, Canada’s Novo Resources Corp (TSX-V:NVO). Novo organised what’s known in the TV game as a live cross from the Denver Gold Forum to its Purdy’s Reward conglomerate project near Karratha in the Pilbara, a 50:50 joint venture with the ASX-listed Artemis (ARV).

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Load up with gold and head for the hills or rush into industrial metals and oil

Load up with gold and head for the hills or rush into industrial metals and oil. That seems to be your choice from Monday, when a new financial year kicks off and we’ll know whether Trump and Xi shook hands and smiled – or not! The handshake the world wants to see could occur today or tomorrow when Chinese President Xi Jinping is expected to have a face-to-face meeting with US President, Donald Trump at the G20 summit in the Japanese city of Osaka.

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