News - Fitzgerald Articles

Plus, its Fosterville frustration as tensions mount over Victoria’s tardy bureaucracy, Hugh Morgan’s gold float starts rattling the can and Chalice’s gold cup runneth over.

There is nothing like a game-changing discovery to fire-up interest in a region’s potential to host another one. That’s what has happened in the Pilbara, where investor interest in its gold potential has long suffered in comparison with the Yilgarn down south. But De Grey changed all that late last year with its intrusion-related Hemi discovery about 80km south of Port Hedland.

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Plus, Auteco has plenty to Pickle Crow about with its Canadian project looking set to burst through the 1Moz barrier this year.

Congratulations to Elon Musk for steering Tesla to its fourth quarterly profit in a row, positioning it for inclusion in the Standard & Poor’s 500 index with all the market-weighting implications that brings. And thanks to our own Sam Riggall, CEO of the ASX-listed Clean TeQ Holdings (CLQ), for forwarding on some interesting nickel comments Musk made during his overnight earnings call. Asked what was Tesla’s biggest constraint at the moment, Musk responded: “It’s all about nickel.’’

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Calidus is trading at just a fraction of the valuation being applied to gold producers – but it stands to close the gap as it begins construction of its Warrawoona mine.

The stampede by investors into junior gold developers in the wake of $US1,800/oz ($A2,585) gold is a sight to behold. Massive over-subscriptions to equity raisings by juniors looking to add momentum to their development push has become the order of the day. And little wonder too. Apart from what a decent discovery can do, the transition from would-be developer to producer is the biggest value uplift a junior (or investor) can pretty much bank.

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The dash to throw wads of cash at the likes of Bellevue Gold and Mincor shows investors now want to have their cake and eat it when it comes to resource growth and the march towards production.

A willing equity market is stepping up to fund an explosion in dual exploration and development strategies by ASX mine developers. It is a key theme to emerge from the strong recovery in mining equities from the COVID-19 induced lows of March and makes for a more dynamic newsflow as developers head towards final investment decisions. In the past, a developer would release its definitive feasibility study and then set out to secure a debt/equity package to fund the project without much happening in between.

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Its Misima project in PNG is seen as the main game, but Kingston could find some easy pickings in white-hot WA gold country. Plus, Centaurus’ nickel success shows we were right to name it as the pick of the bunch at last year’s Diggers & Dealers

Kingston (ASX:KSN) is adding WA gold newsflow to its story while pushing on with development planning for its now wholly-owned 3.2 million ounce Misima gold project in PNG, one of the biggest gold resources held by a junior in the ASX space. The WA gold leg is Kingston’s Livingstone gold project near Meekatharra where previous drilling returned good grade shallow oxide mineralisation, and where a recent structural review pointed to the potential for large-scale primary gold mineralisation in bedrock at depth.

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The Ian Gandel-led sharemarket star is now onto a high-grade pod at its Boda porphyry in NSW while Tomingley looks set for a new lease on life and the rare earths project is about to be set free. Plus, Genesis on the fast-track to being a producer

Ian Gandel has long been an enthusiastic supporter of the Aussie mining and exploration industry. It has been nice to see then that his 23.5%-owned Alkane (ALK) where he is chairman has been a star performer of late, rising from 38c in September last year to this week’s $1.24, making for a $685 million company. It was last September that Alkane made its Boda gold-copper porphyry discovery in the northern Molong volcanic belt of NSW’s Macquarie Arc. After a half dozen or so serious follow-up holes since, Boda has been confirmed as something special.

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Plus, Pilbara Minerals’ chief Ken Brinsden explains why the lithium story is no flash in the pan, with many more big mines needed to satisfy looming demand wave

Premier Daniel Andrews’ “why would you want to go there’’ jab in response to being left out of South Australia’s travel bubble had a certain irony about it for active mineral explorers in his state of Victoria. Stavely Minerals’ (ASX: SVY) executive chairman Chris Cairns said this week that when the company listed on the ASX in 2014 in a $6.1 million float focused on the big-time copper potential of the Stavely volcanic belt in western Victoria, he was often asked: why Victoria?

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The hunt for the next big NSW porphyry is hotting up, with the highly regarded team leading the RareX-Kincora campaign saying it’s the “hottest porphyry prospect” after Alkane

Alkane (ASX:ALK) has just about doubled to 99c since its crazy March low of 50c when many thought the world as we knew it was all over because of COVID-19. It has lots of things on the go but the main driver since its March low has been renewed enthusiasm for last year’s Boda discovery in NSW’s central-west to shape up as a tier-one gold-copper porphyry project. On results to date, Boda is clearly the most significant discovery in the region since Newcrest uncovered its Cadia gold-copper riches in the 1990s.

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