News

Sunstone Metals’ second hole at its Limon prospect in Ecuador was a “winner” and showed “all the signs of a typical porphyry system,” says Patersons analyst Xavier Braud. Sunstone announced this week that the second hole at Limon, which sits in the company’s Bramaderos Project, intersected a “very encouraging interval of porphyry-related mineralisation with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide)”.

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Plus, investors’ eyes turn to PolarX as the new field season beckons

The Kambalda nickel camp is stirring again some 53 years after WMC (acquired by BHP in 2005) drilled the KD1 discovery hole, with Mincor boss David Southam positioning the company to be in the thick of things. The Vietnam War and prolonged nickel mine strikes in Canada underpinned the nickel price spurt which led to WMC’s breakthrough discovery at Kambalda, 60km south of Kalgoorlie.

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Perth broker Hartleys has put an eye-catching 29c-a-share valuation on WA gold miner Red 5 (ASX: RED) following the company’s monster resource upgrade for its King of the Hills gold mine earlier this week. Red 5 unveiled a 3.1 million ounce for King of the Hills (KOTH as it is known) with the open pit component of 2 million ounces set to underpin a Pre-Feasibility Study on a standalone mining and processing operation.

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Warren Buffett reckons it pays to be fearful when others are greedy and to be greedy only when others are fearful (reports Barry FitzGerald on Stockhead).

Warren Buffett reckons it pays to be fearful when others are greedy and to be greedy only when others are fearful (reports Barry FitzGerald on Stockhead). It is the second part of the Oracle of Omaha’s maxim that could well be applied to newbie gold producer Dacian Gold (ASX: DCN). Its share price has been beaten up badly in the last three months, diving from $2.83 on February 27 to $1.68 on Wednesday.

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And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline

FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference. And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla. Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.

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The dead hand of Australian politics took a firm grip of the stock market

The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel. Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.

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Plus, Rio chairman says “we think we have a mine” at Winu copper discovery

Leading gold issues have become something of a value trap in the past couple of months in the absence of a breakout in the US dollar gold price. As mentioned here previously, the ASX gold producers were priced for perfection in the back half of last year and without any stock-specific news, they have drifted sharply lower as the US gold price has come off. Newcrest is the singular exception thanks to its pivot to copper with the March acquisition of a 70% stake in the Red Chris copper-gold operation in Canada.

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Owning one of the biggest virgin gold discoveries in the last 15 years in Western Australia does not necessarily deliver a premium market rating. Not immediately anyway

Owning one of the biggest virgin gold discoveries in the last 15 years in Western Australia does not necessarily deliver a premium market rating. Not immediately anyway (reports Barry FitzGerald on Stockhead). Just ask Breaker Resources which last traded at 35.5c for a market value of $64 million. It has the lowest market value per oz of gold resource in-the-ground amongst its peer group. Yet its Bombora discovery at its Lake Roe project, 100km east of Kalgoorlie, comfortably sits amongst the biggest virgin gold discoveries of the last 15 years.

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