News - Fitzgerald Articles

It's game on in the WA nickel sector as investors wait for Forrest and BHP to declare their hands. Plus, Sprott slaps big buy target on Centaurus, Macquarie says Boss is the way to play uranium theme and Coda prepares to put a resource under the tree

Western Areas (WSA): IGO has plugged its future nickel production hole by securing an endorsement from Western Areas (WSA) for a $1.1 billion/$3.36 cash takeover, a 35% premium to WSA’s undisturbed share price of $2.48 before discussions between the pair were first revealed on August 18. Or has it? The market immediately carried WSA to $3.42, an 18c or 5.56% hike on the day. Clearly punters are betting that it is not all over just yet, with talk on the potential for the likes of BHP or Andrew Forrest to make a late play for WSA.

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And the imminent release of a government-funded ‘discovery’ hole is expected to put the spotlight on fellow Tennant Creek explorers Inca and Greenvale. Plus, RareX eyes publication of an exploration target as a trigger for a share price re-rating.

Emmerson has been faithful to the high-grade gold-copper potential of the Tennant Creek (TC) mineral field in the NT ever since it listed in December 2007. So it was great to see that coming up to 14th anniversary on the lists, it has returned its best ever drill result at its Hermitage project 37km north of TC. It was a stonking 117m at 3.38% copper from 75m, including 3m at 14.91g/t gold and 4.24% copper at the end of the hole.

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Plus, Red 5 eyes re-rating as first gold production draws near and Firefinch is a hot bird in demand with lithium feasibility study imminent.

The copper price is proving to be resilient in the face of all the uncertainty around the place. Last quoted at $US4.38/lb, the red metal remains a heady 56% up on last year’s (calendar) average. And why wouldn’t it be resilient when the likes of BHP, which is not known for exaggerating things, is running around saying the world will need almost double the copper in the next 30 years that it got by with in the past 30 years.

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Former Rio and key Winu geologist turned Talisman exploration chief names NSW copper prospect his top pick.

And staying in NSW, Peel set for resource update at Mallee Bull and Wirlong copper deposits while in WA watchers are puzzled by muted reaction to RareX’s high-grade rare earth hits. It took Kerry Harmanis all of four minutes to go off-script in his chairman’s address to the annual meeting of Talisman (TLM) in Perth during the week. Talisman is a $33 million (17.5c) gold-copper explorer in NSW’s prolific Cobar Basin. Harmanis felt he had to explain to his hometown audience, why NSW?

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Calidus tipped for re-rate as production looms, Kingston set for cashflow via acquisition, shareholders scramble for Bellevue SPP and Sunstone's discovery drill hole does it again

Left behind for much of the year while lithium and the other battery metals did their thing, the gold juniors are back in town thanks to gold punching back through $US1,800/oz in convincing fashion on inflation fears. Last quoted at $US1,860/oz ($A2,574), the yellow metal has put on more than $US100/oz since the start of the month. And Macquarie’s commodities desk strategy team reckon there is more to come. Macquarie sees the potential for gold to move into the low $US1,900s – a level which would comfortably deliver the gold producers margins of more $A1,000/oz.

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He’s just become a billionaire, but Tim Goyder says he’s settling in for the long haul, while over at stablemate Chalice, the hunt is already on for Gonneville repeats

And next week’s Breaker AGM fuels talk of imminent gold resource update and lithium assays.    The way newly minted billionaire mining investor Tim Goyder puts it, every man and his dog has been in his ear over the past two years saying his 17 per cent-owned Liontown (LTR) should sell off its Kathleen Valley lithium project to a lithium major.

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Mark Bennett’s explorer snatches much sought-after patch around rich Fosterville mine; And staying in Victoria, Chalice revs its Falcon gold spin-off.

It was kind of neat that the Victorian government finally got around to announcing the winning tenders for exploration blocks around the Fosterville gold mine near Bendigo just days before the running of the Melbourne Cup. Fosterville, owned by Canada’s Kirkland Lake, again provided the gold for the actual cup, an act of generosity and community engagement that one of the world’s highest grade and most profitable gold mines could well afford.

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A lack of ready-to-go new nickel mines is also set to underpin increased investor interest. The bullish outlook is fuelling talk of consolidation among WA nickel players, including Mincor, which is preparing for the start of production at Kambalda

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