Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.
Copper producers are rightly feeling a bit glum, most of them anyway.
Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb.
That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb.
As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.
Venturex listed on the ASX just before the markets went completely pear-shaped in 2009-2010 (reports Stockhead).
Junior explorers were hit particularly hard, and Venturex (ASX:VXR) was forced to rationalise its portfolio and preserve cash as the value of equities plummeted and capital vanished from the markets.
So it’s fitting that the company is currently developing a copper-zinc project, called Sulphur Springs, which is designed to be robust at any stage of the price cycle.
Western buyers may turn to China for additional zinc supplies after Teck Resources, one of the world's largest producers of the base metal, was forced to cut production from one of its refineries (reports The Australian Financial Review).
The forecast cut of between 20,000 tonnes and 30,000 tonnes from the Canadian company's Trail refinery comes at a time when the International Lead and Zinc Study Group has identified a 134,000-tonne deficit in the global refined zinc balance.
Global financial wobbles reinforced the case for gold this week
Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell.
Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.
Emerging base metals company Orion Minerals (ASX: ORN) is a “rare investment opportunity” whose share price “may at least double” on a one-year view
Emerging base metals company Orion Minerals (ASX: ORN) is a “rare investment opportunity” whose share price “may at least double” on a one-year view, according to a new research report issued by top South African broker Vunani Securities.
In a comprehensive 25-page report, the Johannesburg-based broker has issued a BUY recommendation for Orion (which is also listed on the JSE), describing its 70%-owned Prieska copper-zinc project in the Northern Cape as “world-class” with the ability to generate “large amounts of free cash”.
The gold price took a knock yesterday when the US central bank delivered half the interest rate cut investors wanted, with the sliding share prices that followed a warning shot for investors making the trek to next week’s Diggers and Dealers conference in Kalgoorlie.
The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs
The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs while nearby juniors Sipa and Antipa are planning holes of their own. Plus, Sandfire-backed White Rock offers investors two projects for the price of one.
Exploration in Western Australia’s remote Paterson province is heating up as was expected following Rio Tinto’s belated confirmation in February that its Winu copper-gold discovery was indeed something special.
Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors
Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors, while two industry leaders, BHP and Rio Tinto, paid a heavy price for annoying their supporters.
On a “follow-the-money” basis, it was hard to overlook the flow of funds into two emerging rare earth companies, Arafura and Northern Minerals, which attracted $30 million and $23.2 million respectively to advance their projects.