News

The dash to throw wads of cash at the likes of Bellevue Gold and Mincor shows investors now want to have their cake and eat it when it comes to resource growth and the march towards production.

A willing equity market is stepping up to fund an explosion in dual exploration and development strategies by ASX mine developers. It is a key theme to emerge from the strong recovery in mining equities from the COVID-19 induced lows of March and makes for a more dynamic newsflow as developers head towards final investment decisions. In the past, a developer would release its definitive feasibility study and then set out to secure a debt/equity package to fund the project without much happening in between.

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Its Misima project in PNG is seen as the main game, but Kingston could find some easy pickings in white-hot WA gold country. Plus, Centaurus’ nickel success shows we were right to name it as the pick of the bunch at last year’s Diggers & Dealers

Kingston (ASX:KSN) is adding WA gold newsflow to its story while pushing on with development planning for its now wholly-owned 3.2 million ounce Misima gold project in PNG, one of the biggest gold resources held by a junior in the ASX space. The WA gold leg is Kingston’s Livingstone gold project near Meekatharra where previous drilling returned good grade shallow oxide mineralisation, and where a recent structural review pointed to the potential for large-scale primary gold mineralisation in bedrock at depth.

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Shares in Centaurus Metals surged after the company released a maiden resource of more than 500,000 tonnes for its Jaguar nickel sulphide project in northern Brazil (reports The West Australian).

Shares in Centaurus Metals surged after the company released a maiden resource of more than 500,000 tonnes for its Jaguar nickel sulphide project in northern Brazil (reports The West Australian). The Darren Gordon-led explorer unveiled a resource of 48Mt at 1.08 per cent nickel for 517,500t at Jaguar less than three months after formally taking control of the asset from Vale. Centaurus noted more than 80 per cent of the resource was within 200m of surface, making the project an exceptional shallow, high-grade nickel sulphide growth and development opportunity.

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Mincor is close to being fully funded to restart its Kambalda nickel operation after a $50 million placement by the company closed heavily oversubscribed (reports The West Australian). Mid-tier miner IGO invested $13m in the raising, boosting its stake in Mincor from 2 per cent to 8 per cent while another substantial shareholder in mining entrepreneur Andrew Forrest subscribed for $8.3m worth of shares to maintain his holding at 13.8 per cent. The company will raise a further $10m by way of a share purchase plan.

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Australian mining companies have weathered the COVID-19 storm relatively well thanks in no small part to the strength of the gold and iron ore sectors (reports Stockhead).

Australian mining companies have weathered the COVID-19 storm relatively well thanks in no small part to the strength of the gold and iron ore sectors (reports Stockhead). Tellingly, while the ASX200 is down 13 per cent for the year-to-date, the ASX300 Metals and Mining Index is down just 2 per cent over the same period. Prices for both gold and iron ore have been upgraded throughout the first half of 2020, with the former benefiting from its status as a safe haven in uncertain times.

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This week’s 33 per cent share price jump for Centaurus Metals (ASX: CTM) on the back a strong maiden resource estimate for its Jaguar nickel project in Brazil could be just the start of a sustained upward run for the stock

This week’s 33 per cent share price jump for Centaurus Metals (ASX: CTM) on the back a strong maiden resource estimate for its Jaguar nickel project in Brazil could be just the start of a sustained upward run for the stock, according to a raft of new broker notes released this week. The maiden Jaguar global resource of 517,000t of contained nickel at an average grade of 1.08% Ni sparked the release of four significant new research notes on the company, with target prices ranging from 62 to 95c.

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One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment

One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment as iron ore started its inevitable decline after a spectacular 12-months to be replaced by strong demand and higher prices for copper, nickel and gold. The flip will not be immediate or universal but the trend is there for anyone to see, once you get past the latest outbreak of Covid-19 panic in the US and other parts of the world, including Australia’s own problem State, Victoria.

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IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian)

IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian). The price of the raising is still to be decided but it is understood it will comprise a $50 million placement and a $10m share purchase plan. The raising will allow Mincor to boost its cash balance to $100m to reactivate its Kambalda nickel operations.

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10th - 11th Nov 2020

Gold Coast Conference

With increasing global uncertainty regarding the outbreak of COVID-19 and in light of the latest advice from the Australian Government, including an indefinite ban on large indoor gatherings and in

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