News

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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Feeding frenzy or supercycle? That is the question which dominated the thinking of seasoned market watchers this week as everything (well, almost everything) went up and the rotation out of precious metals into industrial commodities gathered pace.

Feeding frenzy or supercycle? That is the question which dominated the thinking of seasoned market watchers this week as everything (well, almost everything) went up and the rotation out of precious metals into industrial commodities gathered pace. Management moves, often seen at this stage of a sea-change in the commodity sector, also caught the eye of investors, especially the planned shift of Northern Star’s executive chairman, Bill Beament, for something smaller and presumably more fun.

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Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade (reports The Australian Financial Review)

Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade, with base metals surging to multi-year highs and oil making one of its strongest starts to any year in at least the past 30 (reports The Australian Financial Review).

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Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps).

Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps). The placement will strengthen RareX’s cash and liquid position to approximately $11.25 million, with the new funding to be used to progress its growth strategy in the global rare earths sector.

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Copper up. Gold down. Those seemingly disconnected events are really part of the same trend that can be traced to accelerating global growth (more copper, please) which is helping lift official interest rates (less gold, thank you).

Copper up. Gold down. Those seemingly disconnected events are really part of the same trend that can be traced to accelerating global growth (more copper, please) which is helping lift official interest rates (less gold, thank you). Whether what happened on financial and commodity markets this week can continue for the rest of 2021 is the question for investors to consider because if it does, then portfolio adjustments are required, if it hasn’t already happened.

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