News

Plus, Chalice’s record in Victoria to help its bid for highly-demanded blocks next to Kirkland’s rich Fosterville mine

Excitement is building around the expected release on Monday of the eagerly awaited assay results from the third hole drilled at Legend Mining’s (LEG) Area D prospect at its Rockford project in WA’s Fraser Range. Legend was 4.2c a share ahead of going into a trading halt last week and a trading suspension this week, pending the release of the assay results.

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Hedley Widdup believes the events of 2019 are setting mining stocks up for another strong run (reports MiningNews). Despite this year feeling like another tough one for many, it has delivered a number of discoveries. "Discoveries are exciting because they come from nowhere," Widdup told the Resources Rising Stars Summer Series in Sydney today. "2019 has seen a number of discoveries come to market - some still have a question mark over them."

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The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days.

The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days. Big capital raisings in comparison to market caps have been popping up across the junior space and outside of gold, it has been kind of unusual because as yet, there has not been much in the way of support from commodity prices.

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If not for a series of significant fund raisings to back expansion moves by gold, nickel and lithium-exposed companies, the past five trading days were largely negative for investors.

If not for a series of significant fund raisings to back expansion moves by gold, nickel and lithium-exposed companies, the past five trading days were largely negative for investors. Saracen Mineral Holdings was the big one this week, attracting $796 million to help pay for a company-changing half-share in the Kalgoorlie Superpit gold mine. Mincor’s $35 million to accelerate nickel developments and ioneers’s $40 million to expand work on its Rhyolite Ridge lithium and boron project in the US. were two other well-supported deals.

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Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead).

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead). In August 2018, developer Mincor Resources (ASX:MCR) unveiled a maiden resource at Cassini, the first nickel deposit to be discovered in the Kambalda district for many years. The resource has been updated three times since then. In November, it was increased to 1.254 million tonnes at 4 per cent nickel for 50,400 tonnes.

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The Reserve Bank considered a surprise rate cut at its Melbourne Cup day policy meeting, but ultimately decided to wait and see how its three cuts since June would work their way through the economy, the bank’s board minutes reveal (reports The Australian).

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US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review).

US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review). Many participants saw downside risks to the economic outlook as elevated, "further underscoring the case for a rate cut at this meeting,'' according to minutes of the October 29-30 Federal Open Market Committee session released Wednesday (Thursday AEDT) in Washington.

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Advanced explorers and emerging producers such as Aeon Metals and Todd River well positioned to benefit from the upturn

The year all but complete will go down as a golden one for the junior resources sector. Annoyingly though, gold is now going through a correction that has knocked close to $200/oz off the local price and, more importantly, short-term sentiment around the US dollar price. While gold goes through its correction to recover on the other side – ABN Amro is tipping $US1600/oz by the fourth quarter of next year – there has been a notable improvement around sentiment towards the base metals, led by Dr Copper.

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11th Aug 2020

Investor webinar featuring Auteco Minerals, Anglo Australian Resources, Firefly Resources & Trigg Mining

Join us for our next investor webinar on Tuesday, 11 August 2020 featuring Auteco Minerals, Anglo Australian Resources, Firefly Resources & Trigg Mining.

10th - 11th Nov 2020

Gold Coast Conference

With increasing global uncertainty regarding the outbreak of COVID-19 and in light of the latest advice from the Australian Government, including an indefinite ban on large indoor gatherings and in

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