News

Plus, our whisper last week on Rumble proved well-founded but don’t forget Zenith, Beament begins his goodbyes at Northern Star, Sovereign prepares for maiden rutile resource and Biswas has a crack at cryptos

The turnaround in the lithium market has been remarkable stuff, with the key battery material swept up in the global “green” investment boom in the decarbonisation of transport and energy. The resultant surge in lithium prices in the opening months of 2021 has seen last year’s beaten-up lithium stocks recapture their darling status. Pilbara (PLS) tells the tale. In the depth of despair over COVID-19 a year ago, Pilbara could be bought for 18c. It has since climbed to $1.11.

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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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Heavyweight global investment bank Goldman Sachs has upgraded its recommendation for mid-tier copper producer Sandfire Resources

Heavyweight global investment bank Goldman Sachs has upgraded its recommendation for mid-tier copper producer Sandfire Resources (ASX: SFR) from neutral to a BUY on the back of higher base metal forecasts, raising its price target to $7.60-a-share. The news prompted an immediate 6% lift in Sandfire shares yesterday to over $5.80, though still well short of the revised Goldman Sachs target.

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Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian).

Chalice Mining was worth more than $2 billion today (Wednesday) after a share price surge by the market darling explorer this week which boosted the riches of its chairman Tim Goyder by nearly $28 million (reports The West Australian). Shares in the company stacked on 7.5 per cent on Tuesday and a further 5.8 per cent on Wednesday to an all-time closing high of $6.21, giving it a market capitalisation of nearly $2.15b.

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Nimble juniors lining up to test the new frontier in copper-gold exploration;

A bunch of junior explorers are as excited as junior explorers can be after the big time copper/gold potential of the Northern Territory’s Barkly region east of Tennant Creek was confirmed in a government-sponsored drilling program. The East Tennant region, as the boffins are calling it, is not quite an exploration hotspot just yet.

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Instability caused by last week’s rise in U.S. bond rates remained the dominant theme on financial markets this week with iron ore and copper the pick of the commodities sector while gold struggled to recover lost ground.

Instability caused by last week’s rise in U.S. bond rates remained the dominant theme on financial markets this week with iron ore and copper the pick of the commodities sector while gold struggled to recover lost ground. More of the same can be expected in future weeks until a clear picture emerges of the post-pandemic world and investors learn to live with the aftershocks of the wild ride on markets over the last 12-months.

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Larry Jeddeloh is bearish on US bonds and bullish on shares with the current correction “the last major dip to buy” as quantitative easing drives a renewed surge like that of the late 1990’s (reports The Australian).

Larry Jeddeloh is bearish on US bonds and bullish on shares with the current correction “the last major dip to buy” as quantitative easing drives a renewed surge like that of the late 1990’s (reports The Australian).

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