News - Fitzgerald Articles

Plus, imminent PFS could spark re-rating for Kingston and sold-down Rumble offers punters several leveraged exploration plays

It hasn’t taken long for Neil Biddle to get some pep into the share price of the formerly sleepy Greenvale Mining (GRV). Greenvale got a mention here back on September 10 when it was a 4.2c stock. It has since marched to 10.5c for a market cap of $35 million. There are two forces at work. There are those punters getting behind Biddle after following him at Pilbara Minerals (PLS), which he turned from a stock going nowhere to one of the biggest hard rock lithium-tantalum producers in the world.

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Plus, Northern Star’s Bill Beament says his stock is a ‘screaming buy in the $14s’ and Kairos steps up the hunt for a Hemi of its own

The market cap of Chalice Gold has just sailed through the $1 billion mark (fully diluted) as enthusiasm builds around the world-scale potential of its Julimar PGE-nickel-copper-cobalt discovery just 70km from Perth. The stock’s remarkable journey from 15c at the time of the discovery in March to $3.25 in Thursday’s market – up 6c on the day – makes it a 22 bagger, if you don’t mind.

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Plus, beaten-up Syrah wins an analyst’s heart while the bidding race for Cardinal puts the spotlight on fellow West African gold explorer Tietto.

No big move either way in the gold price in response to Biden’s US election victory, as confirmed by Sportsbet paying out on Thursday morning at any rate. There might yet be a big gold price swing but in the meantime the big-name gold stocks are being left to drift on the basis that they are fully priced for circa $US1900/oz gold. In the absence of gold doing something to wake up the trading desks, the focus has shifted to the explorers/developers making a difference to their story with the drill bit.

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The field season in this remote province is in full flight, offering investors leverage in abundance. Plus, former analyst helps kaolin IPO and WA iron ore junior set for first sales in new year.

There has been more gold and copper found in WA’s remote Paterson province in recent times than anywhere else in the country. Rio Tinto estimated the shallow resource at its still growing Winu find at 4.4 million ounces of gold and 1.8Mt of copper back in July, and it has also reported high-grade gold hits at the nearby Ngapakarra prospect.

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There are not many to choose from, but Sandfire’s sum-of-the-parts highlights a value opportunity while shares in juniors such as Stavely and Venturex are already edging up. Plus, early De Grey backer, DGO Gold, wades into a new junior.

Copper has been mounting a challenge to take over from gold as the glamour metal, prompting renewed investor interest in the red metal. With gold seemingly locked into sideways trade until the US election is decided, copper has been shooting the lights out. It last traded at $US3.17/lb, which was a 28-month high. The current price compares with the $US2.50/lb average of the June half and the metal’s 2019 (calendar) average of $US2.72/b, and $2.96/lb in 2017.

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BHP’s nickel chief paints very bullish outlook for his metal while Mincor tells Diggers & Dealers why it’s perfectly placed to cash-in on this forecast boom and Centaurus also aiming to help meet demand. Plus, Alkane and SolGold.

Diggers & Dealers was always going to be dominated by gold stories. But the nickel brigade, led by BHP’s boss of Nickel West, Eddy Haegel, made a good fist of diverting some of the attention of the 1900 delegates at the COVID-delayed conference. “You’ve heard me say this before - we are at the beginning of a revolution that will transform our world and materially increase demand for nickel. Nickel is a standout winner from a decarbonising world,” Haegel said.

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After a bumper year, the Goldfields air is thick with anticipation, if not planes. A “potential show-stopper” from Chalice and Greatland on finding gold in the Pilbara among the must-sees

Next week’s Diggers & Dealers bash beneath Kalgoorlie’s big blue sky will be a more sedate affair than usual. That’s a pity because there is lots for the annual gathering of mining and finance-types to celebrate. The Eastern State’s bloc of regular attendees at the three-day conference is trapped back home because of COVID-19, so it is case of them putting out the rubbish and feeding the cat rather than being free to enjoy a Kalgoorlie kebab at 3am.

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Plus, $20m Argonaut Resources offering leveraged exposure to the copper theme and Friedland named on Chalice’s top-20.

There is nothing wrong with a $US1,892/oz ($A2,635) gold price. It’s just that the metal has lost some of its shine of late as investors in the sector fret that circa $US1,900/oz gold could be good as it gets for a while. As mentioned previously, that has been encouraging a rotation in to base metals, or more particularly, copper, which avoided getting walloped in the recent metals sell-off. The red metal has returned to $3/lb to be comfortably ahead of its $US2.50/lb average in the June half.

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