News

Plus, Rex’s strategy to diversify from tardy crow eaters pays dividends and Covid creates opportunities for counter-cyclical investors in the likes of potash explorer Trigg and lithium developer Liontown.

Miners and explorers have adapted smoothly to the world of virtual investor presentations in a COVID-19 world. Only problem with that though is there isn’t a chance to share a couple of beers afterwards with like-minded souls once the computer in the home office has gone back to screensaver mode and the cat wants a pat.

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Corporate moves, including takeovers and fund raising, took the limelight this week as the destabilising effects of the Covid-19 pandemic continued to hit most commodity markets, except gold.

Corporate moves, including takeovers and fund raising, took the limelight this week as the destabilising effects of the Covid-19 pandemic continued to hit most commodity markets, except gold. Chalice led the fund-raising, attracting $30 million in fresh capital to accelerate work at its promising Julimar palladium and nickel discovery near Perth. Such is the interest in Julimar and palladium that Chalice could have raised more than double what it accepted with applications for the new shares, priced at $1.05, totalling $75 million.

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Investment bank Macquarie has joined a growing list of top-end brokers and institutions to initiate formal research coverage of nickel developer Mincor Resources (ASX: MCR), issuing an “Outperform” recommendation and 85c 12-month price target

Investment bank Macquarie has joined a growing list of top-end brokers and institutions to initiate formal research coverage of nickel developer Mincor Resources (ASX: MCR), issuing an “Outperform” recommendation and 85c 12-month price target. Macquarie’s initiation report follows hard on the heels of Sprott Equity Research and Shaw & Partners, both of which have commenced coverage over the past two weeks – joining institutional brokers Euroz and Petra Capital, both of which have been covering the stock for some time.

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Centaurus Metals (ASX: CTM) has also started racking up positive broker recommendations, with Perth-based Argonaut joining North America’s Sprott Equity Research this week with initiation reports on the Brazil-focused nickel sulphide developer

Centaurus Metals (ASX: CTM) has also started racking up positive broker recommendations, with Perth-based Argonaut joining North America’s Sprott Equity Research this week with initiation reports on the Brazil-focused nickel sulphide developer. Argonaut has maintained its Speculative Buy recommendation (see last week’s RRS Weekly Wrap) while this week adding a 35c valuation, derived from EV/Resource metrics, in a comprehensive new research note.

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A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets

A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets. First observers to spot the feature, also known as a “rounding bottom” on graphs which track the world’s economy, were analysts at the investment bank, Morgan Stanley. In a report on the health of global manufacturing, the end-market for Australia’s natural resource exports, the bank asked earlier this week: “Did April mark the bottom for manufacturing purchasing managers indices?”

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Chalice Gold Mines has continued to reveal more encouraging drill results from the Gonneville nickel discovery at its Julimar project 70km north-east of Perth (reports The West Australian)

Chalice Gold Mines has continued to reveal more encouraging drill results from the Gonneville nickel discovery at its Julimar project 70km north-east of Perth (reports The West Australian). The explorer reported today it had intersected significant intervals of matrix and disseminated sulphides to a depth of 460m from a diamond drill hole 190m north of its original discovery hole.

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And speaking of De Grey, Fraser Range pops up as a neighbour, adding another string to its bow...

Leonora gold explorer/developer Kin Mining is back on the radar after Kerry Harmanis of Jubilee Mines nickel fame took the opportunity presented by Kin’s recent capital raising to increase his stake from 15.2% to 17.1%. Harmanis is the guy who built Jubilee from a spec stock to the $3.1 billion company that Mick Davis’ Xstrata took over in 2007. To Harmanis’ credit, he has continued to be a supporter of junior explorers ever since. Kin (ASX:KIN) has been one of those.

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The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold...

The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold. Encouraging as the public health news might be, the reality is that the global economy has taken a fearsome pounding with a very real risk of regression into extended lockdowns and double-dip downturns for countries which rush their return.

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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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