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Corporate moves, including takeovers and fund raising, took the limelight this week as the destabilising effects of the Covid-19 pandemic continued to hit most commodity markets, except gold.

Corporate moves, including takeovers and fund raising, took the limelight this week as the destabilising effects of the Covid-19 pandemic continued to hit most commodity markets, except gold. Chalice led the fund-raising, attracting $30 million in fresh capital to accelerate work at its promising Julimar palladium and nickel discovery near Perth. Such is the interest in Julimar and palladium that Chalice could have raised more than double what it accepted with applications for the new shares, priced at $1.05, totalling $75 million.

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A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets

A “rolling bottom” might sound like a medical condition but it’s actually one of the more encouraging signs of normality returning to financial markets. First observers to spot the feature, also known as a “rounding bottom” on graphs which track the world’s economy, were analysts at the investment bank, Morgan Stanley. In a report on the health of global manufacturing, the end-market for Australia’s natural resource exports, the bank asked earlier this week: “Did April mark the bottom for manufacturing purchasing managers indices?”

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And speaking of De Grey, Fraser Range pops up as a neighbour, adding another string to its bow...

Leonora gold explorer/developer Kin Mining is back on the radar after Kerry Harmanis of Jubilee Mines nickel fame took the opportunity presented by Kin’s recent capital raising to increase his stake from 15.2% to 17.1%. Harmanis is the guy who built Jubilee from a spec stock to the $3.1 billion company that Mick Davis’ Xstrata took over in 2007. To Harmanis’ credit, he has continued to be a supporter of junior explorers ever since. Kin (ASX:KIN) has been one of those.

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The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold...

The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold. Encouraging as the public health news might be, the reality is that the global economy has taken a fearsome pounding with a very real risk of regression into extended lockdowns and double-dip downturns for countries which rush their return.

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A new phase of exploration has been mapped out over three key prospects areas located just 16km from Legend Mining’s (ASX: LEG) recently confirmed Mawson nickel-copper discovery, providing upside for base metals developer Orion Minerals (ASX: ORN). This is the conclusion of highly experienced Sydney-based resource analyst Gavin Wendt, who says Orion’s Fraser Range joint venture with Independence Group (ASX: IGO) could provide “activity and news-flow for investors”.

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And the squeeze on supplies of zinc concentrate is likely to prompt smelters to offer strong support to those juniors hunting and developing the galvanising metal, such as Orion and Venturex.

It looks like it’s time to dust off the zinc equities, something IGO  (ASX:IGO) provided leadership on earlier in the week with its $27 million investment in the Century mine redeveloper/rehabilitator New Century Resources (ASX:NCZ). The investment will give IGO 18.4% of NCZ and was part of a broader $51.1m capital raising at 15c a share – a 19% premium to the 5-day average.

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Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence

Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence, with fingers crossed that the trend can continue. Chalice Gold led the way with a 50c (80%) rise to 99c after releasing fresh results from its Julimar nickel and palladium discovery near Perth, a find with the potential to become Australia’s first palladium mine.

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It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors...

It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors, but what happened in those countries this week is the latest example of how a supply cuts are helping support commodity and share prices. Both closures, the Cobre mine in Panama and Mopani in Zambia, were caused by concern about coronavirus infections as well as the low copper price, adding to a theme of outages and shortages, especially in the uranium sector, explored in this column last week.

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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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