News - Market Insights

Sandfire Resources has posted a 78 per cent jump in first-half profit to $60.8 million on the back of higher copper prices and strong operational performance at its flagship DeGrussa operations (reports The West Australian).

Sandfire Resources has posted a 78 per cent jump in first-half profit to $60.8 million on the back of higher copper prices and strong operational performance at its flagship DeGrussa operations (reports The West Australian). Revenue was up 14 per cent to $355.6m, supported by the rising copper price, which reached an eight-year high of $US8000 a tonne in December and has continued to climb since. The copper miner declared an interim dividend of 8¢ a share, up from 5¢ previously. Sandfire held cash of $335.8m at the end of December.

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Chalice Mining has appointed former Rio Tinto executive Stephen McIntosh to its board as a non-executive director (reports MiningNews).

Chalice Mining has appointed former Rio Tinto executive Stephen McIntosh to its board as a non-executive director (reports MiningNews). McIntosh left Rio last year after 30 years with the company. He had been Rio's group executive of growth & innovation and health, safety, environment & security since 2016. He joined Rio as an exploration geophysicist in 1987 and led the exploration team from 2011 to 2016, joining the executive committee in 2016.

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Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade (reports The Australian Financial Review)

Fund managers say they are witnessing the most bullish environment for commodities they’ve seen in more than a decade, with base metals surging to multi-year highs and oil making one of its strongest starts to any year in at least the past 30 (reports The Australian Financial Review).

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Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps).

Exploration company RareX (ASX: REE) has secured a $2.75 million investment by prominent resources identity Simon Lee via a placement comprising 25 million new and fully paid ordinary shares at 11c each (reports Small Caps). The placement will strengthen RareX’s cash and liquid position to approximately $11.25 million, with the new funding to be used to progress its growth strategy in the global rare earths sector.

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Gold prices have climbed back up above $US1,800 an ounce mark after dipping briefly below on optimism that the US economy would recover faster than expected from the COVID-19 pandemic (reports Stockhead).

Gold prices have climbed back up above $US1,800 an ounce mark after dipping briefly below on optimism that the US economy would recover faster than expected from the COVID-19 pandemic (reports Stockhead). However, US Federal Reserve Chair Jerome Powell warned that the economic recovery remained “uneven and far from complete” and that the central bank would continue to maintain its accommodative monetary policies.

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A 100km-long zone is the copper target as DGO Gold (ASX: DGO) begins drilling on prime South Australian ground owned by Investigator Resources (ASX:IVR) as the first stage to earning an 80% stake in the project (reports Small Caps).

A 100km-long zone is the copper target as DGO Gold (ASX: DGO) begins drilling on prime South Australian ground owned by Investigator Resources (ASX:IVR) as the first stage to earning an 80% stake in the project (reports Small Caps). The project, Pernatty, lies 55km southwest of the Carrapateena copper-gold mine operated by OZ Minerals (ASX: OZL).

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Australian explorer Kingston Resources (ASX: KSN) has strengthened its on-the-ground presence in Papua New Guinea in preparation for permitting and development of its flagship Misima gold project (reports Small Caps).

Australian explorer Kingston Resources (ASX: KSN) has strengthened its on-the-ground presence in Papua New Guinea in preparation for permitting and development of its flagship Misima gold project (reports Small Caps). The company has appointed Geoff Callister to expand its in-country management team as the project progresses through mining studies and regulatory approvals.

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When Chalice Mining unveiled a new greenfields mineral discovery on the doorstep of Perth in March, many in the WA exploration community were incredulous (reports The West Australian).

in March, many in the WA exploration community were incredulous (reports The West Australian). In a State saturated with junior explorers and mining giants alike, how could a shallow nickel-copper-palladium deposit on farmland near Toodyay have been missed? For Chalice’s young managing director Alex Dorsch, the discovery challenges the idea that WA is well explored. He speaks of the importance of exploring “beyond the headframe” and “drilling holes where holes haven’t been drilled before”.

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