News

21st February 2020

Copper explorer Stavely Minerals has been named as the winner of this year’s Craig Oliver Award at the RIU Explorers Conference in Fremantle (reports MiningNews). Stavely beat out other nominees Image Resources, Alkane Resources, Bellevue Gold and Gold Road Resources. The award, sponsored by Canaccord Genuity, Western Areas and David Flanagan, is handed out every year to a small to mid-cap Australian resources company that has excelled in all areas.

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Plus, Alkane’s latest result fuels hopes it may have a Cadia-esque find on its hands

The coronavirus has knocked the stuffing out of base metals prices, taking equity values for the producers and developers down at the same time. The likelihood is that when the terror of it all passes and everyone gets back to work, there will be a strong rebound in prices for the metals and equities, probably with the added bonus of a big dose of stimulus from Beijing. While the timing of all that is uncertain, the here and now for the sector’s equities is that there is now more value to be had for investors than there was before the thing began to spread from Wuhan.

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Northern Star Resources has rewarded shareholders with a 7.5¢ fully franked interim dividend up 25 per cent on the 5¢ it paid last year...

Northern Star Resources has rewarded shareholders with a 7.5¢ fully franked interim dividend up 25 per cent on the 5¢ it paid last year (reports The West Australian). The juicier payout came on the back of a 54 per cent jump in net profit after tax in the first half to $126.8 million.

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Centaurus Metals (ASX: CTM) has bitten into a thick zone of high-grade semi-massive to massive nickel sulphides at the Onça-Rosa prospect, within its Jaguar nickel project in northern Brazil (reports Bevis Yeo of Stockhead). Recent drilling has confirmed the down-dip extension of historical high-grade nickel sulphide mineralisation with a top result of 9.3m at 3.13 per cent nickel, 0.19 per cent copper and 0.08 per cent cobalt from 281.8m, Yeo said.

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There was in 1999 a very good reason for deciding to close the Misima goldmine in Papua New Guinea...

There was in 1999 a very good reason for deciding to close the Misima goldmine in Papua New Guinea. Somewhat oddly, it’s exactly the same reason to start again today (reports Stockhead). The price of gold, which had plunged to $US252/oz ($374/oz) in May 1999, at the start of a gold-selling program by the Bank of England, determined the fate of the mine 21 years ago, whereas the current price of $US1553/oz underpins plans to redevelop Misima.

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Can both news reports and the flow of money be correct?

If you only read media headlines over the past week you might believe that the world is facing a great economic crisis caused by the China coronavirus, but if you skipped the headlines and looked only at share prices you might believe that nothing happened. Can both news reports and the flow of money be correct? Yes, they can, because the great unknown in the China virus panic is where it’s heading and it is that uncertainty factor which can weigh heavily on investor confidence.

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A common theme among gold miners presenting at Mining Indaba this year was a desire to grow through the drill bit amid an expected decline in gold production (reports MiningNews). The World Gold Council noted global gold production dropped by 1% in 2019, the first decline since 2008. According to a slide shown by Barrick Gold's Mark Bristow, global gold production will peak this year, while the WGC now believes it may have peaked in 2018. "Even if all the projects in the pipeline come to fruition, it's all downhill from there," Bristow told delegates.

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Australian investors are likely to notice a wave of media reports about the $90 billion LNG construction industry about to take off in Mozambique...

Over the next few months, Australian investors are likely to notice a wave of media reports about the $90 billion LNG construction industry about to take off in Mozambique. Until now, this massive investment in what will be four world-scale LNG projects has received virtually no coverage in Australia because they do not involve the usual ASX-listed petroleum companies such as Woodside and Santos.

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