News - Market Insights

The $85bn in annual iron ore exports from the vast and rusty red stretches of the Pilbara is giving Australia an advantage in dealing with the global economic fallout from the spread of the coronavirus (reports Barry FitzGerald on Stockhead).

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As the Australian dollar gold price continues to hover around record all-time highs above $2500/oz amidst the global coronavirus panic, it seems hard to fathom an investor harbouring negative sentiment towards the sector...

As the Australian dollar gold price continues to hover around record all-time highs above $2500/oz amidst the global coronavirus panic, it seems hard to fathom an investor harbouring negative sentiment towards the sector (reports The West Australian).

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De Grey’s drilling has increased both sulphide and gold mineralisation at the Hemi discovery

De Grey’s drilling has increased both sulphide and gold mineralisation at the Hemi discovery (reports Stockhead). If you had put your hard-earned cash into De Grey Mining (ASX:DEG, 11% owned by DGO Gold, ASX: DGO) at the beginning of this year, you would not only have avoided the COVID-19 induced panic selling on markets, you would be ahead more than 350 per cent.

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Copper prices and the coronavirus continue to curb EMR Capital’s enthusiasm, at least in the short term, to advance one of mining’s potential hot new public offerings (reports MiningNews).

Copper prices and the coronavirus continue to curb EMR Capital’s enthusiasm, at least in the short term, to advance one of mining’s potential hot new public offerings (reports MiningNews). But they’re not going to stop the Australasian private equity group from going hard to build value in its copper portfolio, including investing in work on “arguably the world’s best undeveloped copper brownfield expansion”.

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Andrew Forrest lost more than $1 billion from the value of his shares in Fortescue Metals Group as the market crashed on Monday, but that didn’t stop him buying more (reports The Australian Financial Review).  

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Newcrest Mining's gold production will slump to the lowest level since 2013, after poor performance at the Lihir and Telfer mines forced the nation's biggest gold miner into a huge downgrade (reports The Australian Financial Review). Difficult mining conditions at Papua New Guinea's Lihir mine triggered a series of events that will ensure annual gold production from the mine will be between 17 per cent and 20 per cent lower than previously expected.

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Upgrades to gold price assumptions have resulted in big target price increases for Australian gold miners (reports MiningNews). Argonaut Securities lifted its 2020 average gold price forecast from US$1400 an ounce to $1575/oz and its long-term price from $1300/oz to $1425/oz. Canaccord Genuity is much more bullish, lifting its 2020 forecast by 9.1% to $1682/oz and its long-term target by 9.6% to $1787/oz. Both firms boosted price targets for ASX-listed producers, in line with the higher forecasts.

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Battery Minerals has acquired a prospective copper-gold project in Victoria after battling to lock in financing for its graphite projects in Mozambique

Battery Minerals has acquired a prospective copper-gold project in Victoria after battling to lock in financing for its graphite projects in Mozambique (reports The West Australian).

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