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Those being nibbled, with some success, it must be said, include Legend Mining, Bardoc Gold, Alice Queen and Strandline Resources.

There are tentative signs that bottom feeders are stepping up their activity in the junior exploration/developers space. They are nibbling away at those stocks with smashed values (all of them) but which stand out as leveraged plays to the upside thanks to their quality projects and because they have the cash to make things happen. The step-up goes to the idea that as explorers are explorers, and future developers are future developers, they don’t have to worry about the widespread impacts and uncertainties caused by COVID-19 like the miners do.

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The Kambalda nickel restart plan unveiled by Mincor Resources (ASX: MCR) last week in its much-anticipated Definitive Feasibility Study (DFS) announcement has received positive reviews from key brokers covering the stock...

The Kambalda nickel restart plan unveiled by Mincor Resources (ASX: MCR) last week in its much-anticipated Definitive Feasibility Study (DFS) announcement has received positive reviews from key brokers covering the stock. Sydney-based institutional broker Petra Capital has maintained its BUY recommendation and set a $1.00-a-share target price for Mincor (current price: 49c), after incorporating the DFS results and revised (post-COVID) nickel price and foreign exchange assumptions.

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High-quality discovery news, successful capital raisings and confident buy tips have been rare commodities over the past month, but the past few days have seen signs of normality returning to a badly-bruised resources sector.

High-quality discovery news, successful capital raisings and confident buy tips have been rare commodities over the past month, but the past few days have seen signs of normality returning to a badly-bruised resources sector. It wasn’t all good news, it never is, with leading gold producer, Northern Star, suffering a “coronavirus-related” setback which rubbed the gloss off its share price.

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Explorer Chalice Gold Mines provided a rare bright spot in an otherwise dour market today after announcing a nickel-copper discovery at its Julimar project 70km north-east of Perth (reports The West Australian).

Explorer Chalice Gold Mines provided a rare bright spot in an otherwise dour market today after announcing a nickel-copper discovery at its Julimar project 70km north-east of Perth (reports The West Australian).

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Earlier this week, explorer Chalice Gold Mines (ASX:CHN) unveiled a spectacular high-grade nickel-copper-palladium intercept at the greenfields Julimar project near Perth in WA (reports Stockhead). Initial comparisons are being made to Sirius Resources’ legendary Nova nickel discovery.

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The definitive feasibility study for Mincor Resources’ Kambalda restart has confirmed the economic viability of the proposed operation (reports MiningNews). Capital costs are estimated to be A$68 million for a five-year operation to produce about 14,000 tonnes of nickel per annum at unit costs of $3.36 per pound (US$2.35/lb) and all-in sustaining costs of $4.47/lb (US$3.13/lb). Nickel production is expected to peak at over 16,000tpa in FY23 and FY24.

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Volatility was the theme of last week’s edition of Prospector’s Diary, and boy did we all learn a lot about what that means this week

Volatility was the theme of last week’s edition of Prospector’s Diary, and boy did we all learn a lot about what that means this week, leading to the question of what’s next. In a word, drought, and the lessons investors can learn from farmers when they hit a dry patch. The first things farmers don’t do is panic because they know that in Australia drought is as natural as flood.

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Andrew Forrest-backed Mincor Resources has reported strong infill drilling success at its Cassini nickel deposit near Kambalda, as well as an “exciting” exploration hit 400m north of the main resource (reports MiningNews). The exploration result of 7.7m at 1.4% nickel (including 0.5m at 7.5% nickel) from "early drilling" at Cassini North has the company hoping it's "onto a similar channel to Cassini Main". At the latter, an infill hit of 8.2m at 7.6% nickel is estimated to have a true width of 4.7m.

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