News - Fitzgerald Articles

Gold Road and Breaker among those seen as having potential to play catch-up. And TNG is also chasing a re-rating as its FID looms.

The gold stocks aren’t exactly ending 2020 in style. The retreat in the gold price from a peak of $US2,063/oz in August and the severe choppiness in the price in the last couple of weeks has made sure of that. But the reality is that the US-dollar gold price remains some 20% higher than its starting point for the (calendar) year, leaving Aussie gold margins as strong as the industry could hope for at more than $A1,200 an oz. The cash is rolling in.

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The Australian-dollar price is now higher than in its heyday of 2011, delivering big wins for investors in highly-leveraged juniors such as Fenix and Strike. And Liontown’s lithium seen as potential prey for the bigger mining houses.

Rio Tinto back through $110, BHP back through $41 and Fortescue into record territory of more than $20. Anyone would think Christmas has arrived early for the big iron ore producers. And it has, courtesy of  the spike in the iron ore price to a spectacular $US136.30/t (CRF North China) on the latest production woes for Brazil’s Vale at a time of seemingly insatiable demand from China. Vale is supposed to be pumping out 400Mtpa, but the oversight fallout from two tailings dam disasters and the ravages of COVID-19 have put paid to that.

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Surging demand for EVs is expected to see rare earths live up to their name. This bullish outlook is fuelling interest in leveraged juniors such as RareX. And Kingston lives up to this column’s forecast of a share price re-rating.

The surge in the value of Elon Musk’s Tesla to $US544 billion ahead of the stock’s entry into the blue-chip S&P 500 stock index next month is mind blowing stuff. Is Tesla really worth almost three times the value of the dual-listed BHP? It is spearheading the electric vehicle and storage of renewable energy revolution, so maybe it is. But that’s one for others to debate.

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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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