News - Market Insights

Macquarie believes commodities are in the early stages of a mini-upcycle that could play out over the next 1-3 years.

Macquarie believes commodities are in the early stages of a mini-upcycle that could play out over the next 1-3 years. Analysts believe the wave of stimulus spending by global governments to aid the recovery from the COVID-19 pandemic will drive demand for commodities. "We believe a mini-upcycle in commodities started in April 2020 (a month after the low in equities)," Macquarie said.

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Shares in Bellevue Gold hit fresh highs after the company reported “exceptionally strong” results from metallurgical testwork (reports MiningNews).

Shares in Bellevue Gold hit fresh highs after the company reported “exceptionally strong” results from metallurgical testwork (reports MiningNews). The testwork, on ore from the Bellevue project near Leinster, generated recoveries averaging 97.8% across the multiple lodes using conventional gravity and leaching processes and standard reagents. Gravity-only recoveries ranged from 72.6% to 91.7%. The company said the results were in line with historical recoveries from Bellevue, which averaged about 96% while in production between 1988 and 1996.

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The federal government will provide $150 million in financial backing for a new mineral sands mine in Western Australia that includes secondary rare earths capacity, as it continues to focus on developing critical minerals supply chains (reports The AFR)

The federal government will provide $150 million in financial backing for a new mineral sands mine in Western Australia that includes secondary rare earths capacity, as it continues to focus on developing critical minerals supply chains (reports The Australian Financial Review). The concession loan package for the Strandline Resources project will come from the Northern Australia Infrastructure Facility, which is accelerating allocations from its $5 billion funding pool.

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IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian)

IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian). The price of the raising is still to be decided but it is understood it will comprise a $50 million placement and a $10m share purchase plan. The raising will allow Mincor to boost its cash balance to $100m to reactivate its Kambalda nickel operations.

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Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews)

Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews). The company had entered into an agreement with A&C Mining and Yijun Zhu to acquire Kookynie, which has a resource of 8.53Mt at 1.5 grams per tonne gold for 414,000 ounces of gold.

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At first blush, Fenix Resources seems to be hearkening back to the boom days of 2012 with its plan to mine an iron ore deposit at Iron Ridge (reports The West Australian).

At first blush, Fenix Resources seems to be hearkening back to the boom days of 2012 with its plan to mine an iron ore deposit at Iron Ridge (reports The West Australian). The single project company has only a small resource 600km north-north-east of Perth and plans trucking its ore a mind-numbing 490km to Geraldton for export. But on closer examination of the numbers and prevailing market conditions, it seems the stars might just be starting to align for the unlikely project.

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Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”

Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”, with very keenly awaited drilling assays expected over the next 2-4 weeks (reports MiningNews). Deep holes at the Trundle Park and Mordialloc have both given the company and its Canada-listed partner Kincora Copper strong encouragement, with the latter prospect reportedly particularly promising.

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The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian).

The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian). Warrawoona, which lies 20km south of Marble Bar, will include two open pits and one underground mine, a waste rock dump and tailings dam within a 1000ha development envelope.

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