News

Buy when others are selling. It’s one of the oldest pieces of investment advice and its one that Karl Simich and Andrew Forrest put into practice this week with copper and nickel deals.

Buy when others are selling. It’s one of the oldest pieces of investment advice and its one that Karl Simich and Andrew Forrest put into practice this week with copper and nickel deals. Simich, chief executive of Sandfire Resources, took the WA-based company he leads into Spain via the $1.2 billion acquisition of the Matsa mining complex. Forrest, chairman of Fortescue Metals Group, boosted his private stake in a Canadian nickel explorer to 37.3% through the conversion of a loan into shares in what could be the knock-out blow in a fight with BHP for Noront Resources.

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Battery metals, led this week by nickel, continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting

Battery metals, led this week by nickel, have continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting. The gathering of bankers in the Wyoming ski resort of Jackson Hole could be the setting for the Federal Reserve chairman, Jerome Powell, to reveal his plans for winding back monetary support for the U.S. economy.

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The nickel express has left the station, but it could travel much further as demand rises and supply lines are crimped – giving ASX-listed nickel miners and explorers a lift particularly if their product is of a superior quality (reports Tim Treadgold on

Those first two factors, supply and demand, are well understood and have been the key to the near doubling of the nickel price over the past 18-months as it has charged up from a Covid-effected US$11,000 a tonne early last year to latest sales at US$19,500/t.

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Any doubts investors might have had about the power of environment, social and governance (ESG) issues to dictate corporate decision making were blown away this week when BHP caved into activist pressure to quit the oil and gas business.

The deal, which will see Woodside Petroleum acquire BHP Petroleum, has not been well received on financial markets, with both companies sold down and some big BHP shareholders indicating they will oppose the transaction when put to a vote next year. But whether BHP and Woodside achieve their desired marriage of convenience is not the big issue for investors. The more important point is that ESG considerations have now been elevated to a company-making (and breaking) level.

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The gold price itself had 12 months of consolidation. Now we are entering a new stage of a bull market which Barry Dawes of Martin Place Securities believes “will take it much, much higher” (reports Stockhead).

In the big scheme of things, the pullback we have seen over the past 12 months is ‘small beer’, Dawes told the Virtual Gold Conference earlier this week. “Now everything is aligned up for gold prices in the decade to be very strong,” he says. “The short and medium term looks very good; the long term looks very good.” Punters should look to the big gold stocks in the US – they are the ones that matter, Dawes says.

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Bill Beament thinks mining is about to become sexy again (reports The West Australian).

Speaking at the Diggers & Dealers Mining Forum in Kalgoorlie-Boulder, the former Northern Star Resources boss said the industry was changing its image as commodities like copper, zinc and silver became “critical” to deliver greener technology and energy solutions.

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A second spot market auction later this month could put the extent of the spodumene shortage on full display.

A second spot market auction later this month could put the extent of the spodumene shortage on full display. Plus, Beament goes green as Klein fights for gold, Brazilian hydro power could make Centaurus greener than a rain forest and Boss highlights why decarbonisation will fuel a run in the uranium price.   The big mining news of the past week landed just as 2500 mining and monied types were winding their way to the Diggers & Dealers bash in Kalgoorlie.

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The past and the future collided at this week’s Diggers & Dealers mining forum in the outback WA city of Kalgoorlie with of iron ore and gold challenged for top dog status by the fast-growing crop of “green” metals

Three speakers highlighted the story of yesterday’s investment winners, and tomorrow’s likely winners. Bill Beament, a flag-carrier for gold over the past decade, turned critic when he unveiled the new name for his copper and battery metals focused business, Develop, saying that “gold is not green, sorry but it’s not”.

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7th - 8th Jun 2022

RRS 2022 Gold Coast Conference

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