News - Fitzgerald Articles

Plus, knocked-down Explaurum starts fightback with strong drilling results from WA gold project

Independence Group’s (IGO) recasting of itself as a battery materials specialist following the recent sale of its second-rate zinc/copper assets for $120 million requires the establishment of a supporting multi-decade nickel, copper and cobalt resource base. Its $1.8 billion acquisition of the Nova nickel-copper-cobalt project in 2015 by taking over Sirius Resources is the linchpin in the battery materials strategy, but IGO needs to find a couple more Novas to give the strategy any real meaning, or point of differentiation.

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Plus, more exploration results fuel talk of Rio’s ‘big copper find in WA’

Our most successful “prospector”, Mark Creasy, has just notched up 50 years in the game and he is in a reflective mood. “I’ve got a half a century up and I was just wondering when will I start producing daisies,” Creasy said. But when asked about strong industry speculation that he has notched up yet another discovery, Creasy was tight-lipped.

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Plus, Rio’s deal with little Alloy is more evidence the multi-national has landed a big copper find in WA

Tolga Kumova reckons he is “bloody excited’’ about what might come from the drilling program that has just kicked off at Alderan Resources’ (ASX: AL8) Frisco copper project in Utah. He’s got close to 15% of the stock after picking up another 600,000 shares earlier in the week. So he’s got a lot riding on the drill program, one which is targeting the big time potential of AL8’s flagship Accrington/Perseverance prospects at the Beaver County property.

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Satellites don’t miss much nowadays when it comes to monitoring fresh land disturbance, particularly where cloaking vegetation is sparse.

Satellites don’t miss much nowadays when it comes to monitoring fresh land disturbance, particularly where cloaking vegetation is sparse. It is something that Rio Tinto is finding out, no doubt much to its annoyance, at its yet-to-be formally confirmed copper discovery (reported here first on April 6) in the northern reaches of Western Australia’s remote Paterson province.

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OZ Minerals chief talks up copper fundamentals as new demand runs into stagnant supply pipeline; Plus Rex Minerals seeks $5m to reinvigorate Hillside

For a little while there it looked as if copper was going to give up its US$3 handle on global trade fears, a stronger US dollar, and something to do with Italy. But here we are a week into June and the red metal has rallied 6% to $US3.25/lb. Short-covering on fears that BHP’s Escondida mine in Chile, the world’s number one producer, could be hit by strike action are being offered up as the main factor.

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Plus, Centaurus Metals’ new nickel-cobalt discovery in Brazil gives it a big leg-up in the booming battery metals sector

Conferences can be memorable for any number of reasons. And so it was this week at the Resources Rising Stars conference on the Gold Coast. The conference kicked off on Monday night with poolside drinks at the Royal Pines, the highlight of which was the almost mystical appearance from the darkness of two zorb water balls with encased gymnastic type dancers decked out in body hugging strings of coloured LED lights.

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Plus, rising prices for battery metals boost Panoramic’s campaign to re-start mothballed Savannah

The gold producers have a lost a bit of their shine in recent weeks as a result of the gold price sinking below $US1,300/oz for the first time this year because of US dollar strength and an easing of geo-political tensions. The price fall in local dollar terms is close enough to $50/oz. On an annual basis, that amounts to a revenue hit of some $450 million, something which might or might not prove to be the case, depending on where gold prices go from here.

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Plus, Sipa’s cracking JV with Rio highlights project’s potential

Doubts expressed by some big name investment banks and others that over-supply would kill off the lithium boom have been swept aside in fine fashion by Kidman (KDR) and the leading marque for electric vehicles and battery storage of renewable energy, Elon Musk’s Tesla. Having said that, the point of difference here is we’re talking about battery grade lithium which sells for anywhere between $US12,000 and $US20,000 at the moment, not the direct ship ore and spodumene concentrates being shipped out of Western Australia by others for $US100/t and $US900/t respectively.

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