News

It’s the most enduring thematic of our times, and now investors can get exposure at a significantly lower price thanks to the recent impact of rising rates and global strife.

Lithium stocks already showing first signs of recovery while Boss prepares for FID as uranium outlook charges up.   The global decarbonisation thematic is none too worried about the shakedown in equity markets over China’s slowdown and the impact of rising inflation/interest rates in the major economies. The thematic is alive and well. And it’s here to stay for decades to come as governments and companies alike combine forces to rein in global carbon emissions from the (renewable and sustainable) electrification of everything.

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Develop has completed the acquisition of the Woodlawn zinc-copper mine in New South Wales (reports MiningNews).

The company paid A$30 million up-front, comprising $15 million cash and the issue of 4.8 million shares at $3.14 each, to secured creditors of collapsed miner Heron Resources. Up to $70 million of future milestone payments will be due, including $20 million on a final investment decision and $30 million after 18 months of continuous production. Develop has also reimbursed creditor Orion for $500,000 of care and maintenance costs. The company raised $50 million at $3.30 per share in February to fund the deal.

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A battery metals explorer backed by some big-name identities in the WA mining industry has defied volatile equity markets to make a strong debut on the Australian Securities Exchange (reports The West Australian).

Bellavista Resources has traded as high as 30¢, up 50 per cent on its 20¢ issue price after raising $6.5 million in a heavily oversubscribed initial public offering. The IPO was backed by Capricorn Metals executive chairman Mark Clark, chief executive Kim Massey, Bellevue Gold managing director Steve Parsons and former Alita Resources boss Mark Calderwood. The company holds the Edmund project in the Upper Gascoyne, 130km south-west of Newman, with its exploration efforts set to target four areas spanning a 130km-long corridor.

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Buy the dip theory took hold among Australian investors earlier week as they helped the all-ordinaries index claw back 200 of the 700 points lost since early April but by Thursday they discovered the meaning of “dead cat bounce”.

The net result was a week which ended not far from where it started, still down 600 points on a month ago. Adding to concern that the market is struggling to overcome multiple negative forces that include rising interest rates, higher inflation and shortages caused by the Ukraine war is Saturday’s Federal election and the prospect of a new, and less business-friendly Australian Government, on Monday.

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Bill Beament’s Develop Global has flagged a significant upgrade in the resource at its Sulphur Springs copper-zinc-silver project in the Pilbara following another batch of high-grade drilling intersections (reports The West Australian).

Develop unveiled a series of thick, high-grade intersections on Monday including 65.1 metres at 3.5 per cent copper equivalent from a $10m, 68-hole infill drilling program at the project near Marble Bar. The company said the results would feed into a resource upgrade next quarter for Sulphur Springs, which already hosts a resource of 13.8 million tonnes at 2.8 per cent copper equivalent including 9.4Mt in the indicated category. Mr Beament said the latest drilling results were even better than the company had anticipated.

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He’s back!

Bill Beament, the driving force behind the Northern Star Resources (ASX:NST) juggernaut which generated such exceptional returns for shareholders, is returning to the Resources Rising Stars (RRS) Gold Coast investor conference with his new company Develop Global (ASX:DVP) (reports Stockhead). Armed with two high-growth Australian battery metals projects and the mining contract for Bellevue Gold (ASX:BGL), Beament is heading to RRS next month to speak personally with investors.

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Plus, Chalice stablemate Minerals 260 hunting for a Julimar of its own.

The junior explorers have been down in the mouth of late as the big switch to risk-off in equity markets takes its toll on their share prices. Given the on-going supportive backdrop of historically high commodity prices, the painful sell-off in the juniors has been something to behold. But among the gloom, the explorers can be relied on to serve up a reminder every now and then that impressive exploration results will win out over broader market weakness each and every time.

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One decent discovery was not enough to totally wash away the negative sentiment that pervaded most sections of the Australian stock market this week, though Galileo Mining’s palladium strike near Norseman in WA went some way to improving the overall mood.

The highly encouraging 33 metre drill hit assaying 2 grams per tonne of three metals (palladium, platinum and gold), plus useful grades of copper and nickel from a depth of 144m triggered a spectacular surge in Galileo’s share price, which rose by 41c (192%) to 62c. News of the find reverberated around the world, fast becoming a talking point at the Mining Indaba conference in Cape Town and sparking interest among stockbrokers in London, from where this week’s edition of Prospector’s Diary is being filed.

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7th - 8th Jun 2022

RRS 2022 Gold Coast Conference

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