News

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead).

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead). In August 2018, developer Mincor Resources (ASX:MCR) unveiled a maiden resource at Cassini, the first nickel deposit to be discovered in the Kambalda district for many years. The resource has been updated three times since then. In November, it was increased to 1.254 million tonnes at 4 per cent nickel for 50,400 tonnes.

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The Reserve Bank considered a surprise rate cut at its Melbourne Cup day policy meeting, but ultimately decided to wait and see how its three cuts since June would work their way through the economy, the bank’s board minutes reveal (reports The Australian).

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Advanced explorers and emerging producers such as Aeon Metals and Todd River well positioned to benefit from the upturn

The year all but complete will go down as a golden one for the junior resources sector. Annoyingly though, gold is now going through a correction that has knocked close to $200/oz off the local price and, more importantly, short-term sentiment around the US dollar price. While gold goes through its correction to recover on the other side – ABN Amro is tipping $US1600/oz by the fourth quarter of next year – there has been a notable improvement around sentiment towards the base metals, led by Dr Copper.

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Historical evidence suggests gold mining equities are about to take off, fund manager Ronald-Peter Stoferle told delegates at the Zurich Precious Metals Summit (reports MiningNews). Stoferle, a fund manager at Liechtenstein-based Incrementum AG and author of an annual report entitled ‘In gold we trust', said the pattern of mining equity performance in every bull market since 1942 suggested a steep rise - or "euphoria" as he put it - typically seen at the end of an uptrend, was still to come.

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Supply cuts and renewed optimism of a deal to end the China v US trade war triggered a modest realignment this week by investors

Supply cuts and renewed optimism of a deal to end the China v US trade war triggered a modest realignment this week by investors who shifted funds into industrial commodities and away from gold and other safe havens. How long that trend can continue will be very much influenced by political factors unfolding around the world, from Brexit in the UK to impeachment speculation in the US and civil unrest in Chile and other important South American copper-producing countries.

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Mincor Resources’ “remarkable” greenfields Cassini discovery has reached a new milestone

Mincor Resources’ “remarkable” greenfields Cassini discovery has reached a new milestone, passing 50,000 tonnes of high-grade resources (reports MiningNews). Cassini is now defined as hosting 1.25 million tonnes grading 4.04% nickel sulphide for 50,400t of contained metal, an increase of 12,600t at 4.7% from just six additional drillholes drilled recently.

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Nickel won the gold medal at a major metals conference in London this week

Nickel won the gold medal at a major metals conference in London this week but not on the market where the price barely moved, an anomaly which should be corrected next year on the purest of fundamental measures - demand is rising and supply is falling. The muted reaction of nickel to the latest crack-down on exports of unprocessed metal by Indonesia was the biggest surprise on commodity markets, which continue to behave erratically thanks to the ongoing political and economic uncertainties in Europe, the UK and the US.

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Plus, the nickel planets look to be lining up for Mincor and its latest find

Junior explorers/developers vacated the WA iron ore space in a hurry back in 2011-12 when the iron ore price began its almighty slide from $US168/t down to $US55/t in 2015. But a couple of dam tragedies in Brazil and an annual global steelmake that has continued to surprise to the upside resulted in the iron ore price steadily rebuilding to an impressive $US102/t in the September quarter. Add in the lower exchange rate and iron ore is again a licence to print money for the big three of the WA industry – Rio Tinto, BHP and Fortescue.

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Gold Coast Conference

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