News

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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Rebooting nickel company Mincor Resources has recorded a second outstanding nickel intercept in the past month from its Cassini prospect near Kambalda in Western Australia

Rebooting nickel company Mincor Resources has recorded a second outstanding nickel intercept in the past month from its Cassini prospect near Kambalda in Western Australia, with a wedge hole between the two standout hits now being drilled ahead of a resource estimate early in November (reports MiningNews). The 12.3m grading 5.1% nickel hit reported today included 9.7m at 6% nickel, with a true width of 7.6m. The hole was 70m down-plunge from the intercept reported late last month of 15.4m at 4.7% nickel.

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Plus, Canterbury holds its breath ahead of Queensland copper assays and Strandline’s big WA mineral sands project on track to secure funding from the Government’s Northern Australia Infrastructure Facility.

Demand for stock in Stavely Minerals’ (SVY) $19.6 million placement at a $1 a share in the wake of its high-grade copper hits at the Thursday’s Gossan project in Western Victoria was a staggering $100 million. Hits like 32m at 5.9% copper and individual assays of up to 40% copper have obviously fired up interest in the discovery, with Stavely only stopping at $19.6m because that was the threshold for proceeding without the need for shareholder approval.

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First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way.

First signs of lithium hitting the bottom after a torrid year of falling prices could be seen in market commentary this week with leading investment banks hinting that a lithium rebound could be on the way. J.P. Morgan was first to suggest that it might be time to take a fresh look at lithium stocks, followed by Morgan Stanley, which said a tour of Chile’s lithium industry revealed some ongoing uncertainty but that “downside risk is becoming more limited”.

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The managing director of an Australian nickel company has talked up the potential value of electric-vehicles – both as a market and part of a new mine fleet – in its plans to restart production at its Kambalda sulphide-nickel hub in Western Australia, at a conference in Perth (reports Mining Journal).

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Plus, success for Stavely and Alkane spark renewed interest in Eastern States exploration, talk suggests European Cobalt may be heading for Aussie gold and Meteoric poised to deliver eagerly-awaited assays on its Brazilian gold play.

A diamond being the ultimate item of discretsionary expenditure, there should be no surprise that diamond prices have been down in the dumps. Fears of global economic recession overlain with the threat of trade wars is not exactly conducive to buoyant demand and pricing for the sparklers. It is why the few listed diamond producers that exist around the world have being doing it tough on the share price front.

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Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens.

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens. A measure of the gap between strongly performing gold (and goldminers) could be gleaned from a unique mid-week piece of research by Macquarie Bank which looked at the damage done by the China v US trade war and past crises.

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Todd River Resources has acquired the rights to what it describes as a ‘promising new nickel sulphide exploration terrain’ in Western Australia (reports MiningNews). The company has secured a 12-month option from private company Cratonix to evaluate the magmatic sulphide potential of the Nanutarra project, which sits about 30km west of the Nanutarra Roadhouse in the Western Gascoyne region of WA. Consideration for the option is A$10,000 cash and $25,000 worth of Todd River shares.

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