News

Fresh from a hole in one at Nedlands Golf Club last weekend, Mincor managing director David Southam has outlined why investors in the nickel company he leads have real cause for optimism with the Cassini deposit now being developed (reports MiningNews).

Fresh from a hole in one at Nedlands Golf Club last weekend, Mincor managing director David Southam has outlined why investors in the nickel company he leads have real cause for optimism with the Cassini deposit now being developed (reports MiningNews). According to Southam, history has shown Kambalda deposits like Cassini typically end up being between two and 15-times their original size. Cassini has 60,000t in contained nickel resources, and reserves of 1.2 million tonnes grading 3.3% nickel for 40,000t of contained nickel.

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It doesn’t get much better for investors in Australian resources as surging global demand drives prices to multi-year highs with the promise of more to come as confidence rises in vaccines taming the spread of Covid-19.

It doesn’t get much better for investors in Australian resources as surging global demand drives prices to multi-year highs with the promise of more to come as confidence rises in vaccines taming the spread of Covid-19. Dr Copper, the metal used in almost everything and a widely quoted prophet of future economic growth, is leading the way, rising to a nine-year high of $US3.77 a pound. Platinum, the forgotten precious metal, is trading at a six year high of $US1215 an ounce. Most other commodities, bar gold, are also trading at multi-year highs, especially battery metals.

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Several major brokers were quick to lift their price targets for Centaurus Metals (ASX: CTM) after the fast-growing nickel developer unveiled an updated Mineral Resource estimate for its flagship Jaguar project in Brazil last week.

Several major brokers were quick to lift their price targets for Centaurus Metals (ASX: CTM) after the fast-growing nickel developer unveiled an updated Mineral Resource estimate for its flagship Jaguar project in Brazil last week. The updated Resource, following six months of in-fill drilling, resulted in a 50% increase in Indicated Resources to 223,000 tonnes of contained nickel, with the global estimate increasing to 58.6 million tonnes grading 0.95% Ni for 557,800 tonnes of contained nickel.

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And as the uranium sector begins to glow amid bullish price forecasts, Boss moves to finance production restart at South Australian project

Copper has been a star performer since mid-2020 in response to COVID production hits in Latin America, global stimulus, and the global decarbonisation push gathering momentum. The red metal averaged all of $US2.50/lb in the first (calendar) six months of 2020 and is now sitting pretty at $US3.54/lb. Much of the gain can be attributed to COVID-related supply concerns and COVID-related stimulus. Decarbonisation is the longer-term and potentially more explosive thematic, with copper supply shortages more or less baked in come 2025.

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Centaurus Metals has increased the size and confidence of its Jaguar nickel project in Brazil (reports MiningNews).

Centaurus Metals has increased the size and confidence of its Jaguar nickel project in Brazil (reports MiningNews). The indicated and inferred resource now stands at 58.6 million tonnes at 0.95% nickel for 557,800 tonnes of contained nickel. The June maiden resource was 517,500t at 1.08% nickel. The indicated resource now accounts for 40% of the total, or 19.9Mt at 1.12% nickel for 223,400t of nickel, which will underpin a scoping study due next month.

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Plus, shares in battery graphite producer Syrah hitch an EV ride while Mincor looks set to follow suit in the name of nickel

Buying into one of the best metals discoveries in recent times – Chalice’s Julimar near Perth – has just got a lot cheaper, even though its story has just got a lot better, such are the joys of investing in the resources space during periods of metal price volatility. Chalice (CHN) was off 13% in Thursday’s market to $4.04. Nothing particularly wrong with that given $4.04 compares with a pre-Julimar discovery 52-week low of 14.5c. But it is down from a recent high of $4.92.

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Chalice Mining has extended the four known zones at its Julimar project outside Perth and has discovered four new zones (reports MiningNews).

Chalice Mining has extended the four known zones at its Julimar project outside Perth and has discovered four new zones (reports MiningNews). The latest drilling has found the G1 and G2 zones merge at depth, with a strike length of more than 690m and dip extent of up to 490m and open to the north along strike and down-dip.

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29th January 2021

A surging iron ore price is set to give birth to two new WA junior exporters of the steel-making commodity within days (reports The West Australian).

A surging iron ore price is set to give birth to two new WA junior exporters of the steel-making commodity within days (reports The West Australian). GWR Group and Fenix Resources have opportunistically seized on a nine-year high iron ore price of around $US170/t to bring their respective projects into production. While their direct shipping ore projects may be small and involve the costly process of trucking product vast distances to the port of Geraldton, each is confident of a healthy margin at prevailing iron ore prices and currency exchanges.

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