News - Fitzgerald Articles

There is growing recognition that nuclear power is key to meeting both the energy and decarbonisation challenges. But the supply side of the uranium equation is yet to catch on, paving the way for further price increases. And Boss Energy, already among Australia’s uranium front runners, could add copper to its story. Plus, bumper drilling results add to the buzz at Genesis over pending arrival of Raleigh Finlayson.

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Industry giant Iluka shows how resources shares and commodity prices have diverged of late while juniors such as Strandline now offer even greater leverage.

Broad structural supply issues at a time when the world’s energy and automotive industries are being remade suggests the “hard” asset qualities of commodities in an inflationary environment will shine through as the year unfolds. Mining equities have nevertheless failed to escape the tech-heavy sell-off in equity markets in recent days. As Warren Buffett might suggest, the equities sell-off means stocks are cheaper than they were, and if their story is right, there could be value to be had.

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And the juniors are itching to join the party, as shown by Orion’s new early-production strategy, while Carnaby tears down the street waving exceptional results from its Mt Isa drilling.

Sandfire’s ever-bustling MD Karl Simich is about to head off to sunny Spain to collect the keys to the MATSA copper-zinc operation, acquired in a transformational $US1.865 billion deal first announced in September last year. MATSA is an established low-cost producer of 100,000-120,000tpa of copper equivalent (the red metal accounts for about 66% of the value) and its acquisition builds Sandfire’s (SFR) group copper output to one of the biggest on the ASX.

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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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