News

Silver, the poor-man’s gold, set the pace this week as investors accelerated their flight to safety

Silver, the poor-man’s gold, set the pace this week as investors accelerated their flight to safety, driven by concern about Covid-19’s ongoing economic damage and the potential for a powerful return of inflation, which can damage the value of financial assets such as cash. Since the middle of last month, silver has risen by 35% to $US23.14 an ounce, easily outstripping gold’s 9% rise over the same time to a nine-year high of $US1868/oz as the value of the US dollar continued to slide and some US interest rates went deeper into negative territory.

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Chalice Gold Mines has taken an option to earn up to a 70% stake in the South West nickel-copper project which has a “Julimar lookalike” target

Chalice Gold Mines has taken an option to earn up to a 70% stake in the South West nickel-copper project which has a “Julimar lookalike” target, a reference to the company’s headline-making discovery in March (reports Small Caps). In a deal with Venture Minerals (ASX: VMS), Chalice will farm into this new project, which lies near the highly prospective western margin of the Yilgarn Craton in Western Australia and has had limited historical exploration.

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Gold explorer Anglo Australian Resources (ASX: AAR) and rare earths developer-cum NSW porphyry exploration leverage story RareX (ASX: REE) are both new additions to Canaccord Genuity’s latest watch list

Gold explorer Anglo Australian Resources (ASX: AAR) and rare earths developer-cum NSW porphyry exploration leverage story RareX (ASX: REE) are both new additions to Canaccord Genuity’s latest (July 2020) incarnation of its widely-followed Exploration Watch List. Canaccord says the list is designed to “highlight speculative, unrated companies of interest that are involved in active exploration and/or development of gold and base metal projects”.

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Perth rich-lister Kerry Harmanis has taken his first step back into public company life in 13 years as non-executive chairman of Talisman Mining (reports The West Australian).

Perth rich-lister Kerry Harmanis has taken his first step back into public company life in 13 years as non-executive chairman of Talisman Mining (reports The West Australian). Talisman was the first significant investment Mr Harmanis made after he pocketed $400 million in the $3.1 billion sale of his former nickel play Jubilee Mines to Xstrata in October 2007. He has an 18 per cent stake in Talisman, which holds two early-stage copper-gold exploration projects in New South Wales.

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RareX and partner Kincora Copper already knew they were sitting on a porphyry system in the famed Lachlan Fold Belt of NSW, but now they have also hit higher grades

RareX and partner Kincora Copper already knew they were sitting on a porphyry system in the famed Lachlan Fold Belt of NSW, but now they have also hit higher grades than is typical of most porphyry deposits (reports Stockhead). When it comes to porphyry deposits, size counts. These are multigenerational mines responsible for ~60 per cent of the world’s copper, most of its molybdenum, and significant amounts of gold and silver.

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Its Misima project in PNG is seen as the main game, but Kingston could find some easy pickings in white-hot WA gold country. Plus, Centaurus’ nickel success shows we were right to name it as the pick of the bunch at last year’s Diggers & Dealers

Kingston (ASX:KSN) is adding WA gold newsflow to its story while pushing on with development planning for its now wholly-owned 3.2 million ounce Misima gold project in PNG, one of the biggest gold resources held by a junior in the ASX space. The WA gold leg is Kingston’s Livingstone gold project near Meekatharra where previous drilling returned good grade shallow oxide mineralisation, and where a recent structural review pointed to the potential for large-scale primary gold mineralisation in bedrock at depth.

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Timing is everything in the mining business – and it seems Alaskan copper-gold explorer PolarX is about to make its run just as investor interest in its end of the market hits fever pitch.

Timing is everything in the mining business – and it seems Alaskan copper-gold explorer PolarX is about to make its run just as investor interest in its end of the market hits fever pitch. After waiting months for the snow to melt, PolarX is now preparing to resume drilling at its Zackly deposit, where the resource already stands at 3.4 million tonnes grading 1.2 per cent copper and 2gpt gold.

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One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment

One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment as iron ore started its inevitable decline after a spectacular 12-months to be replaced by strong demand and higher prices for copper, nickel and gold. The flip will not be immediate or universal but the trend is there for anyone to see, once you get past the latest outbreak of Covid-19 panic in the US and other parts of the world, including Australia’s own problem State, Victoria.

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