News

Saracen Mineral Holdings has snapped up Talisman Resources’ Sinclair nickel project for $10 million

Saracen Mineral Holdings has snapped up Talisman Resources’ Sinclair nickel project for $10 million for its gold potential and existing infrastructure close to its Thunderbox operations near Leinster (reports The West Australian).

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Global producers of electric cars have big ambitions and a bigger problem: supplies of a key material are running short (reports The Wall Street Journal). Nickel sulfate is a brilliantly coloured crystalline substance used in electric-vehicle batteries. The ore most commonly used to produce it is mined in only a handful of places -- and they include some of the most politically or operationally challenging, such as Russia or Canada’s frozen Northeast.

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After being hailed mid-decade as the most significant greenfields discovery in Kambalda for many years, Mincor Resources’ Cassini nickel deposit has delivered its highest value drill intercept thus far (reports MiningNews). Diamond core drilling hit 15.4m grading 4.7% nickel (with a true width of more than 13m), and encouragingly the intercept was on the boundary of the current mineral resource and 73m along strike from an earlier assay of 6.3m at 7.1% nickel.

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After 10 years of trying to develop an iron ore mine in Brazil has prepared Centaurus Metals for what could be a company-making project – in nickel (reports Tim Treadgold on MiningNews).

After 10 years of trying to develop an iron ore mine in Brazil has prepared Centaurus Metals for what could be a company-making project – in nickel (reports Tim Treadgold on MiningNews). The switch can be put down to two issues. It's hard to be a small iron ore miner in a country better known for the world-class projects operated by Brazil's national mining champion, Vale, and it helps that Vale is keen to see its smaller base metal discoveries developed as "mini-mines".

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Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets

Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets – but it could, and that’s interesting. The switch, so modest that not many people noticed, saw gold slip by $64 an ounce to around $US1491/oz and copper rise by US10 cents a pound to $US2.62/lb. In percentage terms, those moves look a little more thought-provoking because they are both roughly 4% - gold down by 4%, copper up by 4%.

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Fresh from a $2.2m capital raising and a 1-for-60 share consolidation, Marindi Metals (ASX:MZN) is ready to hit the ground running with a maiden drill program about to begin at its flagship Forrestania gold project in WA (reports Stockhead). Led by former Northern Star Resources (ASX:NST) chief geologist Simon Lawson, Marindi has been quietly working up a series of targets at the Kit Kat gold prospect, located within its extensive 700sqkm tenement package in the Forrestania belt.

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Long time Brazil-focused Centaurus Metals (ASX: CTM) has attracted A$10 million in new funding for its new Jaguar nickel sulphide exploration project, including headline North American capital markets firm Sprott (reports MiningNews). The investors are paying 1c per share for the new equity, with the funding going towards resource drilling, other exploration activities, metallurgical and environmental study work, and vendor payments. 

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13th September 2019

There was a time there back in 2016 when it looked as if the Australian nickel industry would wither away to nothing (reports Barry FitzGerald on MiningNews). he industry was in survival mode in response to the crash in nickel prices from 2011's magical annual average peak of US$10.36/lb to 2016's miserable $4.35/lb. At the big end of town, BHP wanted out of Nickel West and was no longer investing in the metal, First Quantum was a year away from mothballing Ravensthorpe, and there were question marks over the ability of Glencore's Murrin Murrin to survive.

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