News - Fitzgerald Articles

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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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.

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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.

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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.

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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.

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23rd September 2021

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.

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