News - Fitzgerald Articles

More evidence that Rio is on to something special puts spotlight back on Winu nearology juniors Antipa and Sipa. Plus, Euroz barracks hard for Legend’s WA nickel-copper discovery

Rio Tinto hasn’t been messing around at its remote Winu copper-gold discovery in Western Australia’s Paterson province. Its latest exploration licence expenditure report, filed under the WA Mining Act, shows Rio spent a massive $79.6 million on the project in the 12 months to October 12, not including the cost of a gravel airstrip.

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Plus, Chalice’s record in Victoria to help its bid for highly-demanded blocks next to Kirkland’s rich Fosterville mine

Excitement is building around the expected release on Monday of the eagerly awaited assay results from the third hole drilled at Legend Mining’s (LEG) Area D prospect at its Rockford project in WA’s Fraser Range. Legend was 4.2c a share ahead of going into a trading halt last week and a trading suspension this week, pending the release of the assay results.

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Goyder aims to be Goldilocks with not-too-early, not-too-late development of Kathleen Valley. Plus, Centaurus awaits first assays from Brazilian nickel sulphide project.

STOP PRESS: Legend Mining (LEG) has gone into a trading halt pending the release of assay results from the third hole in its current drilling campaign at its Area D prospect, part of its broader Rockford project in WA’s Fraser Range. The Perth gossip was that it has made a nickel-copper “discovery”, though there was no fix on the size of the intersection or the grade of the mineralisation, presumably because the hit had only been made in recent days.

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The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days.

The notion that the junior mining and exploration sector has lost out to the cannabis and tech sectors in the competition for the speculative investment dollar – and that there is no coming back – has been shot down in recent days. Big capital raisings in comparison to market caps have been popping up across the junior space and outside of gold, it has been kind of unusual because as yet, there has not been much in the way of support from commodity prices.

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Advanced explorers and emerging producers such as Aeon Metals and Todd River well positioned to benefit from the upturn

The year all but complete will go down as a golden one for the junior resources sector. Annoyingly though, gold is now going through a correction that has knocked close to $200/oz off the local price and, more importantly, short-term sentiment around the US dollar price. While gold goes through its correction to recover on the other side – ABN Amro is tipping $US1600/oz by the fourth quarter of next year – there has been a notable improvement around sentiment towards the base metals, led by Dr Copper.

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Plus, cashed-up Kairos set to start the rig turning again at its 640,000oz Pilbara project

Here’s one for lazy investors looking for leveraged exposure to near-record Australian gold prices – DGO Gold (DGO). Led by Ed Eshuys of Plutonic, Bronzewing and Jundee gold deposits discovery fame, and Bruce Parncutt of analyst/investment banker fame with McIntosh Securities and Merrill Lynch, DGO has a somewhat unique strategy for a junior.

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Plus, the nickel planets look to be lining up for Mincor and its latest find

Junior explorers/developers vacated the WA iron ore space in a hurry back in 2011-12 when the iron ore price began its almighty slide from $US168/t down to $US55/t in 2015. But a couple of dam tragedies in Brazil and an annual global steelmake that has continued to surprise to the upside resulted in the iron ore price steadily rebuilding to an impressive $US102/t in the September quarter. Add in the lower exchange rate and iron ore is again a licence to print money for the big three of the WA industry – Rio Tinto, BHP and Fortescue.

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Plus, Canterbury holds its breath ahead of Queensland copper assays and Strandline’s big WA mineral sands project on track to secure funding from the Government’s Northern Australia Infrastructure Facility.

Demand for stock in Stavely Minerals’ (SVY) $19.6 million placement at a $1 a share in the wake of its high-grade copper hits at the Thursday’s Gossan project in Western Victoria was a staggering $100 million. Hits like 32m at 5.9% copper and individual assays of up to 40% copper have obviously fired up interest in the discovery, with Stavely only stopping at $19.6m because that was the threshold for proceeding without the need for shareholder approval.

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