News

There are times when Chalice Mining managing director Alex Dorsch looks out of the window of his West Perth office and shakes his head in wonder (reports The Australian Financial Review).

Less than 80 kilometres from the suburb, which is home to Australia’s greatest concentration of junior mining and exploration companies, sits the company’s Julimar discovery. Julimar is a rare beast: a shallow nickel-copper-cobalt-palladium-gold deposit in a nation where there have been few platinum group element (PGE) discoveries, let alone many of size.

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Growing up on the family property in country Victoria, James Stewart’s favourite pastime involved dismantling toys to understand the mechanics of how they worked (reports The Australian Financial Review).

“When I was five, I was pulling an alarm clock apart and my aunt tried to stop me,” Stewart recalls. “My mum just told her to let me figure out how it works – she knew I wouldn’t stop until I worked it out.” This innate curiosity saw Stewart build his first car at 15 years of age and then his first engine a year later before undertaking a degree in mechanical engineering at Monash University. Fast-forward a number of decades, and the co-portfolio manager of Ausbil’s global resources fund applies the exact same thinking to picking stocks.

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Gateway Mining’s Gidgee gold project in WA is turning up more high-grade results, with infill RC drilling at the Evermore prospect returning coarse visible gold (reports Stockhead).

Highlight results from 10 of the 91 hole 14,311m RC program included: 10m at 2.8g/t from 101m, directly ‘up dip’ of a previously identified high-grade intercept (7m at 11.7g/t from 97m); and 2m at 10.8g g/t from 87m. In addition, the first diamond drill hole results from the six hole 2,550m program returned 1.9 metres at 22.4 g/t, including visible gold:

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Iron ore, coal and oil ore will be the commodity winners when the financial is ruled off next Wednesday. Gold, however, will end flat when looked at over the full 12-months, while copper and other battery metals continue to shape as next year’s winners.

In a nutshell, that’s where we have been in financial year 2020/21 and where we appear to be headed as financial markets say goodbye to a roller-coaster ride dominated by the Covid-19 pandemic and government spending designed to stave off a depression. By this time next year, a different picture will emerge, probably one dominated by the struggle to reel in the excess cash created in reaction to the pandemic which means inflation and interest rates will be one of big issues to watch, with energy transition another.

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Exploration and discovery news will become more important than ever for investors in Australian resources after this week’s intervention by China in commodity markets followed by another warning from the U.S. that higher interest rates are on the way.

The Chinese plan to sell surplus material from government stockpiles of critical metals such as copper and nickel has had a dampening effect on prices, while the U.S. central bank’s interest rate signal mean that gold faces a tough time. Both of those events at the top of the investment food chain had been widely expected as markets rattled by the Covid-19 pandemic start to normalise, radiating out ripples of uncertainty.

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Boss Energy set to feed investor appetite for near-term uranium producers with release of pivotal feasibility study. Plus, the runaway share prices of Coda and Sovereign show we were on the mark. And Black Canyon prepares to drill

Uranium stands as the coiled spring of the commodities space. At some point, the price of the nuclear fuel is going to take off. That’s the broad expectation out there. Ask around about the commodity to watch in the next 12 months and the answer increasingly comes back as uranium. Maybe so, but the reality is that at $US32/lb (spot), the uranium price remains well below the $US60/lb price considered necessary to incentivise the investment in new supply required to fill the ever-widening gap between supply and long-term demand.

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It gave the world Covid-19 and now it looks like China is giving the world inflation and while some people might not see the connection between Covid and inflation, they are both a threat and an opportunity for investors.

To understand the significance of an inflationary outbreak, you only have to look back 18 months to see how a disease can turn financial markets upside down. Heavy losses at the start and fat profits later. Inflation, if allowed to rise too far, is an equally dangerous infection which destroys the value of certain types of investment (especially cash), but the flipside is that it improves the performance of hard physical assets such as property, gold and other commodities.

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Joint venture partners Coda Minerals and Torrens Mining have uncovered intense iron oxide-copper gold (IOCG) alteration with copper-sulphide mineralisation

intense iron oxide-copper gold (IOCG) alteration with copper-sulphide mineralisation while drilling at the Emmie Bluff Deeps target within the Elizabeth Creek copper project in South Australia (reports Small Caps). The first deep diamond hole drilled at the target encountered a sequence of approximately 200m of intensely haematitic and altered sediments and granites, including 50m of moderate-to-intense copper-sulphide mineralisation consisting of chalcocite, chalcopyrite and bornite.

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