News

Growing up on the family property in country Victoria, James Stewart’s favourite pastime involved dismantling toys to understand the mechanics of how they worked (reports The Australian Financial Review).

“When I was five, I was pulling an alarm clock apart and my aunt tried to stop me,” Stewart recalls. “My mum just told her to let me figure out how it works – she knew I wouldn’t stop until I worked it out.” This innate curiosity saw Stewart build his first car at 15 years of age and then his first engine a year later before undertaking a degree in mechanical engineering at Monash University. Fast-forward a number of decades, and the co-portfolio manager of Ausbil’s global resources fund applies the exact same thinking to picking stocks.

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Gateway Mining’s Gidgee gold project in WA is turning up more high-grade results, with infill RC drilling at the Evermore prospect returning coarse visible gold (reports Stockhead).

Highlight results from 10 of the 91 hole 14,311m RC program included: 10m at 2.8g/t from 101m, directly ‘up dip’ of a previously identified high-grade intercept (7m at 11.7g/t from 97m); and 2m at 10.8g g/t from 87m. In addition, the first diamond drill hole results from the six hole 2,550m program returned 1.9 metres at 22.4 g/t, including visible gold:

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Kairos Minerals (ASX: KAI) has started drilling a “sizeable” gold target at its Kangan project, 70km south of Port Hedland in Western Australia and only 20km from De Grey Mining’s (ASX: DEG) Hemi discovery (reports Small Caps).

The company has kicked-off a 5,000m aircore drilling program to test the sizeable Target 1 gold anomaly, which is adjacent to major structures identified through aeromagnetic and soil geochemistry data. Kairos noted the zone is about 1km wide and hosts similar large regional structures adjacent to the Hemi deposit which has more than 6.8 million ounces in gold resources with mineralisation remaining open along strike and at depth.

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Iron ore, coal and oil ore will be the commodity winners when the financial is ruled off next Wednesday. Gold, however, will end flat when looked at over the full 12-months, while copper and other battery metals continue to shape as next year’s winners.

In a nutshell, that’s where we have been in financial year 2020/21 and where we appear to be headed as financial markets say goodbye to a roller-coaster ride dominated by the Covid-19 pandemic and government spending designed to stave off a depression. By this time next year, a different picture will emerge, probably one dominated by the struggle to reel in the excess cash created in reaction to the pandemic which means inflation and interest rates will be one of big issues to watch, with energy transition another.

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A phase four follow-up program of reverse circulation and diamond drilling at key targets within Kin Mining’s Cardinia gold project in WA is enhancing the company’s geological understanding of the underexplored Eastern Corridor area

A phase four follow-up program of reverse circulation and diamond drilling at key targets within Kin Mining’s (ASX: KIN) Cardinia gold project in Western Australia is enhancing the company’s geological understanding of the underexplored Eastern Corridor area (reports Small Caps). The program comprises an additional 63 holes for a total 9700 metres and has been designed to extend the project’s mineral resource along strike to the north and at depth to 200m below surface.

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Exploration and discovery news will become more important than ever for investors in Australian resources after this week’s intervention by China in commodity markets followed by another warning from the U.S. that higher interest rates are on the way.

The Chinese plan to sell surplus material from government stockpiles of critical metals such as copper and nickel has had a dampening effect on prices, while the U.S. central bank’s interest rate signal mean that gold faces a tough time. Both of those events at the top of the investment food chain had been widely expected as markets rattled by the Covid-19 pandemic start to normalise, radiating out ripples of uncertainty.

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Most of the big names in Australian gold mining have had a rough ride recently as the gold price has struggled to reclaim last year’s all-time high

...but it’s a different story at the small end of the game where exploration success is the key to share price movement (reports Tim Treadgold on Small Caps). The difference between producers and explorers is an interesting example of the old saying about it being better to travel than to arrive. Dividends and yield have become the primary appeal of some big gold producers, a novel situation given the high risks associated with any form of mining and a position which will be challenged in the next interest-rate rising cycle.

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18th June 2021

Bellevue Gold's grade-control drilling has confirmed the continuity of the Tribune Lode

Bellevue Gold's grade-control drilling has confirmed the continuity of the Tribune Lode, in Western Australia's Eastern Goldfields, delivering exceptional intercepts, such as 2m at 176.6 grams per tonne within 5m at 76.4gpt from 55m; and 5m at 31.7gpt from 43m (reports MiningNews). The company says its two-rig program, on a 10m by 10m pattern, is rapidly advancing the resource drill-out ahead of development, and continues to show the robustness of the resource within the planned open-pit.

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