Leading fund manager names Boss as his pick of the uranium stocks. Plus, South32’s copper deal a boost for porphyry hunters such as Sunstone and Hot Chili.
World leaders - most of them anyway – will soon be heading to Glasgow for the United Nation’s Climate Conference, otherwise known as COP26.
The idea is that there will be commitments to accelerated net zero emission targets to save us all from global warming through decarbonisation and the electrification of everything.
Plus, Chalice prepares to drill for repeats of its rich Gonneville deposit, De Grey Chairman Simon Lill leads float of new WA nickel explorer Nimy and Breaker says maiden lithium resource not far off.
Those with long memories were squirming in their seats when former Federal treasurer Peter Costello beamed in a 45-minute opening address to the first day of the “The Boom in the Room” resources conference.
Costello – he is now chairman of Nine and chairman of the board of guardians at the $130 billion Future Fund – had wanted to present in person but lamented he did not have a WA passport to make the trip across to Perth from lockdown Melbourne.
Pilbara Minerals chief eyes another spot sale as he ramps up second plant. Plus, Sunstone soars on ‘major’ gold-copper find and St Barbara spurned in offer for neighbour Kin.
The lithium stocks have been trading well off their highs in recent weeks.
The broader equity market weakness in response to fears over the global economic impact of shortages and rising costs for good old-fashioned carbon sources of energy have been cited for the hit.
It kind of works if the EV buildout was coming to a screeching halt, which it is not. If anything, governments can be expected to insulate the booming battery space from the energy shortages/rising costs, as looks to be the case in China.
Plus, first assays for Sunstone’s porphyry play should be close, runaway mineral sands prices a big tailwind for Strandline and Chris Cairns’ new gold float E79 shakes off gold market weakness with strong demand for IPO
The copper stocks have not been spared from the broader market malaise. That’s despite the copper price remaining nice and strong at $US4.17/lb.
Plug the spot price into the current earnings period and profits for the producers are going to be substantially higher than the pricing of copper equities would have you believe.
If there was a feeling the copper price was about to tank, fair enough. But it is near-impossible to find a forecaster who thinks the copper price is headed for a dive like say, iron ore.
It’s Tempranillo all round as El Simich solves miner’s big problema with purchase of long-life copper asset on attractive terms
Sandfire Resources (SFR) has had a problem ever since an exploration hole in May 2009 overseen by a young geologist, Margaret Hawke, hit bonanza copper grades in WA’s Bryah Basin.
It was nice problem to have as the near-6% copper hit – along with good gold values – at the DeGrussa prospect always meant the find would be developed quick smart.
And it was, with first production in 2013, and the nearby Monty deposit discovery in 2015 chiming in with its high-grade feed from 2019.
Plus, Boss positioning to be first cab off the uranium rank and Kingston prepares to finish DFS on 2.5Moz Misima
It has been a champagne week for the ASX-listed lithium sector.
The first-up boost for the sector came from Pilbara Minerals (PLS), courtesy of the spectacular price achieved in the second auction of spodumene concentrate on its newbie online platform, the Battery Material Exchange (BMX).
Then there was Ioneer (INR) securing $US560 million ($A765m) in backing from South Africa’s Sibanye-Stillwater for its Rhyolite Ridge lithium-boron project in Nevada.
A bunch of juniors are about to follow-up a test hole drilled by Geoscience Australia which revealed strong potential for IOCG copper-gold deposits near Tennant Creek. Greenvale, Inca and Strategic Energy among those about to try their luck at the big time. And Nexus defies gold gloom with some bumper results.
It goes without saying that there is a strong appetite for copper exploration with some big upside potential now that the price of the red metal has well and truly consolidated around the $US4.20/lb level.
Plus, eyes on Ioneer amid expectations of an imminent selldown at its Nevada lithium-boron project
Plus, eyes on Ioneer amid expectations of an imminent selldown at its Nevada lithium-boron project, Liontown spinout Minerals 260 to give maiden investor webinar today and Zenith awaits assays from JV partner Rumble and its Earaheedy zinc-lead zinc discovery in WA.
It is an embarrassment for the gold sector that companies with Australian operations have been seriously outperformed this year by the ASX-listed west African gold producers.
Good on the likes of Perseus (PRU) and West African (WAF) for showing up their Aussie counterparts too.