News

And speaking of De Grey, Fraser Range pops up as a neighbour, adding another string to its bow...

Leonora gold explorer/developer Kin Mining is back on the radar after Kerry Harmanis of Jubilee Mines nickel fame took the opportunity presented by Kin’s recent capital raising to increase his stake from 15.2% to 17.1%. Harmanis is the guy who built Jubilee from a spec stock to the $3.1 billion company that Mick Davis’ Xstrata took over in 2007. To Harmanis’ credit, he has continued to be a supporter of junior explorers ever since. Kin (ASX:KIN) has been one of those.

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The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold...

The road back to normality started this week as Covid-19 infections faded, but shrewd investors will be watching carefully for potholes while also recognising that the smoothest ride will be on a street paved with gold. Encouraging as the public health news might be, the reality is that the global economy has taken a fearsome pounding with a very real risk of regression into extended lockdowns and double-dip downturns for countries which rush their return.

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A new phase of exploration has been mapped out over three key prospects areas located just 16km from Legend Mining’s (ASX: LEG) recently confirmed Mawson nickel-copper discovery, providing upside for base metals developer Orion Minerals (ASX: ORN). This is the conclusion of highly experienced Sydney-based resource analyst Gavin Wendt, who says Orion’s Fraser Range joint venture with Independence Group (ASX: IGO) could provide “activity and news-flow for investors”.

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And the squeeze on supplies of zinc concentrate is likely to prompt smelters to offer strong support to those juniors hunting and developing the galvanising metal, such as Orion and Venturex.

It looks like it’s time to dust off the zinc equities, something IGO  (ASX:IGO) provided leadership on earlier in the week with its $27 million investment in the Century mine redeveloper/rehabilitator New Century Resources (ASX:NCZ). The investment will give IGO 18.4% of NCZ and was part of a broader $51.1m capital raising at 15c a share – a 19% premium to the 5-day average.

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Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence

Discovery and development news, plus a rare “speeding ticket”, were highlights of what has been one of the better weeks for Australian resources stocks since the coronavirus flattened confidence, with fingers crossed that the trend can continue. Chalice Gold led the way with a 50c (80%) rise to 99c after releasing fresh results from its Julimar nickel and palladium discovery near Perth, a find with the potential to become Australia’s first palladium mine.

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It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors...

It’s a rare day when the closure, however temporary, of copper mines in Panama and Zambia means anything to Australian investors, but what happened in those countries this week is the latest example of how a supply cuts are helping support commodity and share prices. Both closures, the Cobre mine in Panama and Mopani in Zambia, were caused by concern about coronavirus infections as well as the low copper price, adding to a theme of outages and shortages, especially in the uranium sector, explored in this column last week.

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9th April 2020

Chalice Gold Mines’ first diamond hole into its Karri prospect in Victoria has intersected primary gold (reports MiningNews). The hole, the first test at depth into a ‘blind target' returned 11.45m at 1.02 grams per tonne gold from 284m, including 2.55m at 2.29gpt gold. The gold zone is associated with a zone of stockwork quartz veining in Castlemaine Group sediments and a tight upright fold hinge, characteristics shared by other major gold systems in the region such as Bendigo and Fosterville.

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Those being nibbled, with some success, it must be said, include Legend Mining, Bardoc Gold, Alice Queen and Strandline Resources.

There are tentative signs that bottom feeders are stepping up their activity in the junior exploration/developers space. They are nibbling away at those stocks with smashed values (all of them) but which stand out as leveraged plays to the upside thanks to their quality projects and because they have the cash to make things happen. The step-up goes to the idea that as explorers are explorers, and future developers are future developers, they don’t have to worry about the widespread impacts and uncertainties caused by COVID-19 like the miners do.

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