News

Copper up. Gold up. It’s an unusual double-barreled event because rising copper is a pointer to strong future economic activity, while gold is a safe haven for uncertain times, so when both rise at the same time it makes for tricky forecasting.

Copper up. Gold up. It’s an unusual double-barreled event because rising copper is a pointer to strong future economic activity, while gold is a safe haven for uncertain times, so when both rise at the same time it makes for tricky forecasting. Layer on top of those two key commodities moving in tandem with rising interest rates and a whiff of inflation, and it is doubtful that there has ever been a more complex brew of conflicting signals.

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Plus, Legend and Breaker show why patience can be a key ingredient in exploration and impending float of Black Canyon to give manganese-hungry investors another option.

Inca Minerals (ICG) must be feeling like a little boy pushing a wheelbarrow – it’s all of ahead the company. In a short time frame time too, with game-changing potential to boot, something it could be argued is not yet reflected in the group’s $50m market cap (12.5c) a share. First up, there’s the excitement around the company’s exposure to the East Tennant region of the Northern Territory. It’s where government-funded drilling has confirmed the frontier region’s potential to host large-scale iron oxide copper gold deposits.

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Takeover time moved a step closer this week as the “almost everything boom” stretched out to new heights with Fitch Ratings warning that the mining sector is likely to shift from a buyer’s to a seller’s market over the next 12-to-18 months.

Takeover time moved a step closer this week as the “almost everything boom” stretched out to new heights with Fitch Ratings warning that the mining sector is likely to shift from a buyer’s to a seller’s market over the next 12-to-18 months. The alert from Fitch, a leading credit rating agency, recognises the challenge of trying to buy high-priced individual assets and the need for bidders to make a full takeover for the parent company.

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30th April 2021

Chalice Mining’s share price continues to rally to new highs as analysts speculate over the size of its Julimar discovery outside Perth (reports MiningNews).

Chalice Mining’s share price continues to rally to new highs as analysts speculate over the size of its Julimar discovery outside Perth (reports MiningNews). Chalice said last week that it was delaying its hotly anticipated maiden resource from mid-year until the end of the third quarter because the deposit just keeps getting bigger. The company reported 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide.

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Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews).

Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews). The company received 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide. The drilling expanded the G4-G11 zones to the north-east and the G1-G2 zones down-dip. G4 is now 1250m long with up to 600m of dip extent, while G11 is 1200m long with up to 300m of dip extent. Both are open to the north and down-dip.

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The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz

The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz -- and might be there by the time you read this. Soft commodities and financial markets are also booming. Wheat is trading at a seven-year high. Timber in the U.S. is at an all-time high, as are share prices on the New York Stock Exchange.

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Plus, there is a buzz around Rumble’s impending zinc-lead assays and IGO prepares to start drilling at Boadicea’s Fraser Range plot.

The copper stocks weren’t in need of a confidence boost with the red metal continuing to trade at more than $US4.10-/lb. They got one anyway during the week when Goldman Sachs made the call that copper was necessarily on the path to an eye-watering $US6.80/lb in 2025. It was based on a familiar thematic – copper is essential to global decarbonisation and that after a couple of years of supply surplus caused by new production from mines being built now, a chronic supply deficit emerges.

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16th April 2021

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews).

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews). After peaking at over US$2000 an ounce in August 2020, gold has fallen as low as $1683/oz last month. It currently sits at about $1747/oz.

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