News - Market Insights

PolarX (ASX: PXX) has identified visible mineralisation in all holes drilled to date at the Star Canyon prospect within its Humboldt Range gold-silver project in Nevada (reports Small Caps).

The company commenced a 3,000m reverse circulation campaign two weeks ago targeting bulk-tonnage, low-to-moderate grade mineralisation at the northern end of the project. Ten holes have been drilled to date for a total 1,500m to test a coherent gold-in-soil anomaly concealed under thin soils to the north and south, and open and untested beneath cover. Star Canyon sits within a broader anomaly measuring 2,300m in length and 900m in width and grading more than 30 parts per billion gold. All holes encountered variably altered and mineralised limestone.

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While interest rate sentiment may be putting some pressure on the gold price, the appropriately named chief investment officer for Lowell Resources Funds Management, John Forwood, believes the outlook is more positive than many think (reports MiningNews)

Speaking at RIU Sydney Resources Round-up, Forwood suggested inflation would have to be at 10% and nominal interest rates at 3% for the gold price to be under seriously genuine threat. He further suggested markets may be of the belief - given the gold price hasn't tanked - that the increasing interest rate cycle now underway many not be as prolonged or as significant as some may fear because debt levels are so high and economies wouldn't be able to bear major hikes.

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Shares in Mincor Resources rose nearly 5 per cent after it revealed it would start generating cashflow in June under revised terms of its offtake agreement with Nickel West following the restart of its Kambalda nickel operations (reports The West Australi

The David Southam-led company revealed on Friday that ore delivered to Nickel West’s Kambalda concentrator by the end of next month would be converted to imputed concentrate production based on a grade recovery curve, resulting in first cashflow in June.

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Shares in Sandfire Resources jumped today after the company’s quarterly production included the first contribution from the newly acquired MATSA complex in Spain (reports MiningNews).

Adding MATSA to existing production from DeGrussa in Western Australia saw copper production rise to 28,774 tonnes from 18,675t in the previous quarter. DeGrussa also produced 6956 ounces of gold, while MATSA also contributed 16,027t of zinc, 1901t of lead and 620,000 ounces of silver. MATSA performed in line with expectations with optimisation to 4.7 million tonnes per annum underway. The operation set a new monthly mine record of 398,595t in March, equating to an annualised run-rate of 4.9Mtpa.

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Dozens of countries including Britain and France are now turning to Australia to lock in a long-term clean energy source that can help the world dramatically cut its carbon emissions (reports The Australian).

After nearly a decade in the deep freeze, nuclear power has been getting a fresh look as a way for the world to rapidly end its dependence on heavily-polluting coal and oil. An energy crisis brought about by Russia’s invasion of Ukraine has turbocharged this, prompting much of western Europe to look for ways to slash their reliance on Moscow. Shunned by politicians here as being too hot to handle, uranium has been a workhorse for decades, fuelling nuclear reactors in more than 30 countries.

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Boss Energy (ASX: BOE) is readying to make a final investment decision early next month for the re-start of its flagship Honeymoon uranium mine in South Australia after workstreams have progressed “more rapidly” than expected (reports Small Caps).

The company’s managing director Duncan Craib said work on the mine re-start had advanced faster than expected. “During the quarter, we completed the FEED (front end engineering design) study [for Honeymoon], which confirmed that the cost estimates in the enhanced feasibility study remain accurate.” He said this achievement was followed by a heavily oversubscribed $125 million equity raising. “In parallel with these major achievements, the uranium price continued to increase sharply.”

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Continuous ore processing is underway at Calidus Resources’ A$106 million Warrawoona gold project in Western Australia’s Pilbara region (reports MiningNews).

Processing of low-grade ore is underway and will transition to run-of-mine ore over the coming week as operations move to steady state. Gold in circuit has started to build, with the first gold pour expected within two weeks, well and truly within the company's previously stated target date of mid-May. Calidus managing director Dave Reeves said the start of processing less than five years since the company listed on the ASX was a major achievement.

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With open pit and underground mining underway on schedule at its flagship King of the Hills redevelopment in Western Australia, Red 5 is now describing the first gold pour as “imminent” (reports MiningNews).

The company, which has been relying on its aging Darlot mill for the better part of a year, said this morning the KOTH development was progressing within budget and on schedule, and its major risks were now the labour shortages that have plagued the industry for the past two years, and the unpredictable impacts of COVID-19 disruptions. Managing director Mark Williams, said creating the first gold bar was "just weeks away", with mining humming along well, the crushing circuit running, and the new 4.7 million tonne mill in the commissioning phase.

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