News

6th September 2019

Tiddler Valor Resources is turning its gaze towards the Western Australian Goldfields with an agreement to acquire an interest in the high-grade Radio mine near Southern Cross in Western Australia (reports MiningNews). Valor's Berenguela copper-silver-manganese project in southeast Peru was recently joint ventured out to Rio Tinto's Kennecott Exploration Company, and with that project in hand it is looking to establish a gold revenue stream by early 2020.

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Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.

Copper producers are rightly feeling a bit glum, most of them anyway. Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb. That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb. As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.

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Kambalda-area miner Mincor Resources has delivered a substantial increase in tonnes at its greenfields Cassini nickel sulphide discovery at the southern end of the Widgiemooltha Dome, as it continues to refocus on the metal after its dalliance with gold (reports MiningNews). Cassini now hosts 37,800t of the metal, an increase of 33%, with a high-grade 9300t averaging 4.5% nickel confirming the discovery is "one of the largest and highest grade deposits" in Western Australia's Kambalda district.

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Global financial wobbles reinforced the case for gold this week

Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell. Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.

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Gold dominated financial markets and news flow this week as the world stumbled towards a significant economic slowdown

Gold dominated financial markets and news flow this week as the world stumbled towards a significant economic slowdown, but in the background were early signs of another metal on the move. Nickel, which has been edging towards a price break-out for much of the year rallied strongly early yesterday, moving above $US7 a pound, and briefly trading at $US7.50/lb, its highest in more than four years, before settling around $US7.06/lb. In early July, nickel was selling for $US5.30/lb which means that at its high point yesterday the metal had risen by more than 40% in two months.

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The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs

The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs while nearby juniors Sipa and Antipa are planning holes of their own. Plus, Sandfire-backed White Rock offers investors two projects for the price of one. Exploration in Western Australia’s remote Paterson province is heating up as was expected following Rio Tinto’s belated confirmation in February that its Winu copper-gold discovery was indeed something special.

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Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors

Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors, while two industry leaders, BHP and Rio Tinto, paid a heavy price for annoying their supporters. On a “follow-the-money” basis, it was hard to overlook the flow of funds into two emerging rare earth companies, Arafura and Northern Minerals, which attracted $30 million and $23.2 million respectively to advance their projects.

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Plus, Liontown morphing into lithium city as new research report says the hot stock is just warming up

It is wrong to think that it has been a case of total gloom and doom for lithium equities since January. The sector is down by 50%-plus on fears of over-supply well in to the 2020s and operational shortcomings at the newer operations. It has not mattered that one by one, the world’s biggest auto groups have been pinning their futures to the electric vehicle revolution. In a global market in which two million EV units were sold last year, VW reckons it will do five million units itself in 2025. Same with Toyota, and others have been chiming in.

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