News

Bill Beament has wasted no time turning to his next challenge after bedding down the $16 billion merger of his Northern Star Resources with Saracen Mineral Holdings (reports The West Australian).

Bill Beament has wasted no time turning to his next challenge after bedding down the $16 billion merger of his Northern Star Resources with Saracen Mineral Holdings (reports The West Australian). Mr Beament, who will transition to the role of non-executive chairman of the merged entity in July, has thrown his cash and weight behind Pilbara explorer Venturex Resources and its Sulphur Springs copper-zinc project. In a move that will transform its share register, Mr Beament will invest $37.3m in the low-profile company as part of a broader $58m funding package.

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Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade (reports The Australian Financial Review)

Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade, with base metals surging to multi-year highs and oil making one of its strongest starts to any year in at least the past 30 (reports The Australian Financial Review).

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Gold prices have climbed back up above $US1,800 an ounce mark after dipping briefly below on optimism that the US economy would recover faster than expected from the COVID-19 pandemic (reports Stockhead).

Gold prices have climbed back up above $US1,800 an ounce mark after dipping briefly below on optimism that the US economy would recover faster than expected from the COVID-19 pandemic (reports Stockhead). However, US Federal Reserve Chair Jerome Powell warned that the economic recovery remained “uneven and far from complete” and that the central bank would continue to maintain its accommodative monetary policies.

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Plus, $9m Trigg says its potash fertiliser project is set to generate rapid growth – and not just for fruit trees

Bellevue’s “stage one” feasibility study (FS) into the development of its high-grade namesake project in WA has lifted the lid on a “green” money making machine. Mind you, Bellevue’s 22% share price fall to 75.5c on Thursday’s release of the FS did not exactly reflect that outcome. As is usual with such studies in a down market for gold – the price has fallen from $US1,957/oz in early January to $US1,783/oz on rising US interest rates and the tech-led surge on Wall Street – there can be an over-reaction to the downside from so-called misses to expectations.

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Copper up. Gold down. Those seemingly disconnected events are really part of the same trend that can be traced to accelerating global growth (more copper, please) which is helping lift official interest rates (less gold, thank you).

Copper up. Gold down. Those seemingly disconnected events are really part of the same trend that can be traced to accelerating global growth (more copper, please) which is helping lift official interest rates (less gold, thank you). Whether what happened on financial and commodity markets this week can continue for the rest of 2021 is the question for investors to consider because if it does, then portfolio adjustments are required, if it hasn’t already happened.

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The A$14 billion merger between Northern Star Resources and Saracen Mineral Holdings is officially complete (reports MiningNews).

The A$14 billion merger between Northern Star Resources and Saracen Mineral Holdings is officially complete (reports MiningNews). The enlarged Northern Star started trading on the ASX this morning as Saracen was removed. The scheme of arrangement was implemented on Friday, with Saracen shareholders being issued 0.3763 Northern Star shares for every share held. The ASX 100 company is the second-largest Australian listed gold producer by production and market capitalisation. Former Saracen managing director Raleigh Finlayson is now MD of Northern Star.

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Kairos Minerals (ASX: KAI) has struck gold in multiple intercepts from drilling at its Mt York gold project in Western Australia’s Pilbara region (reports Small Caps).

Kairos Minerals (ASX: KAI) has struck gold in multiple intercepts from drilling at its Mt York gold project in Western Australia’s Pilbara region (reports Small Caps). The company has now received all assays from a 16-hole for 2,130m drilling program completed in December at Mt York and the Old Faithful deposits within the Mt York gold project.

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The beginning of a new commodities supercycle could see dividend records tumble as the major diversified miners make the most of soaring commodity prices (reports The Australian Financial Review).

The beginning of a new commodities supercycle could see dividend records tumble as the major diversified miners make the most of soaring commodity prices (reports The Australian Financial Review). BHP alone could deliver $US59 billion ($76 billion) of dividends between now and the end of 2023-24 based on the forecasts of broker UBS.

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