News - Fitzgerald Articles

And speaking of De Grey, Fraser Range pops up as a neighbour, adding another string to its bow...

Leonora gold explorer/developer Kin Mining is back on the radar after Kerry Harmanis of Jubilee Mines nickel fame took the opportunity presented by Kin’s recent capital raising to increase his stake from 15.2% to 17.1%. Harmanis is the guy who built Jubilee from a spec stock to the $3.1 billion company that Mick Davis’ Xstrata took over in 2007. To Harmanis’ credit, he has continued to be a supporter of junior explorers ever since. Kin (ASX:KIN) has been one of those.

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And the squeeze on supplies of zinc concentrate is likely to prompt smelters to offer strong support to those juniors hunting and developing the galvanising metal, such as Orion and Venturex.

It looks like it’s time to dust off the zinc equities, something IGO  (ASX:IGO) provided leadership on earlier in the week with its $27 million investment in the Century mine redeveloper/rehabilitator New Century Resources (ASX:NCZ). The investment will give IGO 18.4% of NCZ and was part of a broader $51.1m capital raising at 15c a share – a 19% premium to the 5-day average.

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And now Liontown, Chalice’s stablemate and neighbour, is looking for a Julimar of its own in ‘similar geological terrain’ while Cassini says me-too. Plus, there’s a new Canadian player in the Victorian gold game and action aplenty at Navarre.

STOP PRESS: It was mentioned here back in January that 2020 was shaping up as a big year for Strandline (ASX:STA) as it set about delivering the big-time potential of its zircon-rich Coburn project in WA’s Mid-West. Interesting to see then that Strandline went into a trade halt late yesterday pending an announcement on the “execution of material commercial agreements for the Coburn mineral sands project”.

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The nickel price has copped a full dose of the virus, infecting producers’ share prices in the process. But today’s explorers and developers are set to emerge as big winners when the world rides out the other side ...

The nickel price has copped a full dose of the virus, infecting producers’ share prices in the process. But today’s explorers and developers are set to emerge as big winners when the world rides out the other side - with electric vehicle numbers soaring and nickel inventories falling. Among those positioning for this journey are Chalice, Legend, Centaurus and Blackstone. The nickel producers have been doing it tough ever since Wuhan turned the world on its head on January 23 by locking down its 11 million people to deal with the coronavirus.

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Those being nibbled, with some success, it must be said, include Legend Mining, Bardoc Gold, Alice Queen and Strandline Resources.

There are tentative signs that bottom feeders are stepping up their activity in the junior exploration/developers space. They are nibbling away at those stocks with smashed values (all of them) but which stand out as leveraged plays to the upside thanks to their quality projects and because they have the cash to make things happen. The step-up goes to the idea that as explorers are explorers, and future developers are future developers, they don’t have to worry about the widespread impacts and uncertainties caused by COVID-19 like the miners do.

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Plus, Chalice and Alkane do the business with the drill bit, Bellevue and Red 5 show there is still money for good projects and Tietto hits visible gold

It’s not a great time to be laying out a company’s future in the form of a definitive feasibility study. But at least in the case of nickel stock Mincor (ASX:MCR) it can be said the DFS has confirmed robust economics for its planned restart of its Kambalda operations, with first production pencilled in for the December quarter next year.

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Plus, Alkane and Chalice tantalise investors with exploration trading halts, DGO ups its stake in De Grey as the Hemi gold find continues to grow, Bardoc PFS boasts strong margins and Apollo and Musgrave set for re-rating.

Gold has not been immune from the extreme volatility that has gripped commodity and equity markets alike since the COVID-19 panic got going on January 22, in US dollar-terms at any rate. But thanks to the collapse in the US exchange rate in the same period from US68c to US57c, the Aussie gold price has actually moved into record territory, having put on 17% to an amazing $2660/oz. Now that hasn’t mattered much when it comes to Aussie gold equities. They are being smashed along with the rest of the market.

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Plus, market’s brutal response to Red 5’s production downgrade ignores the bigger game

It is a good time to be boldly looking beyond the current vapourisation of equity values in response to the coronavirus pandemic to secure what with time, will (hopefully) be seen as astute pick-ups. Mind you, you’ve got to have the readies to do it. That’s not a problem for Andrew “Twiggy” Forrest. Because iron ore has managed to hold at elevated levels, and because China is reportedly getting back to work while the Western world goes in to quarantine, he is in line to collect a $1.58 billion annual dividend cheque for the 2020FY from Fortescue Metals (ASX:FMG).

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