News

Macquarie believes commodities are in the early stages of a mini-upcycle that could play out over the next 1-3 years.

Macquarie believes commodities are in the early stages of a mini-upcycle that could play out over the next 1-3 years. Analysts believe the wave of stimulus spending by global governments to aid the recovery from the COVID-19 pandemic will drive demand for commodities. "We believe a mini-upcycle in commodities started in April 2020 (a month after the low in equities)," Macquarie said.

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Stavely Minerals continues to be surprised “by the incredible consistency and continuity of mineralisation” in the Cayley Lode, part of the Thursday’s Gossan copper-gold discovery in Victoria (reports Stockhead).

Stavely Minerals continues to be surprised “by the incredible consistency and continuity of mineralisation” in the Cayley Lode, part of the Thursday’s Gossan copper-gold discovery in Victoria (reports Stockhead).

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Just about everything else fell this week but gold reclaimed its star status with a rise of $US50 an ounce after a promise from the US central bank that there will be no increase in official interest rates for at least another two years

Just about everything else fell this week but gold reclaimed its star status with a rise of $US50 an ounce after a promise from the US central bank that there will be no increase in official interest rates for at least another two years. The problem with the no-rate increase comments from the Federal Reserve chairman Jay Powell is that while they might be good for gold, they reflect a downbeat outlook for US and global growth.

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Gold took a back seat to other commodities this week as investors decided that the Covid-19 pandemic is over and it’s time to make some money.

Gold took a back seat to other commodities this week as investors decided that the Covid-19 pandemic is over and it’s time to make some money. It might be stretching the point but one interpretation of recent events is that financial markets have “de-coupled” from politics and assorted health and public order concerns such as those seen in US unrest.

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Fresh from releasing the updated bankable feasibility study for its Prieska copper-zinc project in South Africa, Orion Minerals is in advanced financing and partner talks ...

Fresh from releasing the updated bankable feasibility study for its Prieska copper-zinc project in South Africa, Orion Minerals is in advanced financing and partner talks (reports MiningNews). The updated study delivered a 43% increase in undiscounted pre-tax free cashflows to A$1.6 billion, or A$1.2 billion post-tax. The net present value increased by 36% to $779 million pre-tax, or $552 million post-tax, while the pre-tax internal rate of return is up by 5% to 39%.

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Plus, Rex’s strategy to diversify from tardy crow eaters pays dividends and Covid creates opportunities for counter-cyclical investors in the likes of potash explorer Trigg and lithium developer Liontown.

Miners and explorers have adapted smoothly to the world of virtual investor presentations in a COVID-19 world. Only problem with that though is there isn’t a chance to share a couple of beers afterwards with like-minded souls once the computer in the home office has gone back to screensaver mode and the cat wants a pat.

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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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