News - Market Insights

Gold remains in a holding pattern with prices bouncing up and down around the $US1,700 mark. But AngloGold Ashanti chief executive officer Kelvin Dushnisky reckons it could rise beyond $US2,000 an ounce (reports Stockhead). While gold slipped to $US1,697.40 per ounce — or about $2,617 per ounce in Australian dollar terms — on Monday due to the stronger US dollar, analysts say the low level of speculative interest also reduces the likelihood of a sell-off.

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Nickel-focused explorer/developer Centaurus Metals (ASX: CTM) has been rated as a “key pick” in the ASX base metal developer sector by Perth-based broking firm Argonaut Securities

Nickel-focused explorer/developer Centaurus Metals (ASX: CTM) has been rated as a “key pick” in the ASX base metal developer sector by Perth-based broking firm Argonaut Securities due to the scale and high-grade shallow mineralisation of its flagship Jaguar nickel sulphide project in Brazil. Centaurus acquired the project from Vale in 2019, in the process securing a published non-JORC resource of 40.4Mt at 0.78% Ni for 315,000t of contained nickel, "making it one of the largest nickel sulphide inventories of any ASX-listed company” according to Argonaut analyst Matt Keane.

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Bardoc Gold (ASX: BDC) was rated by investment website Stockhead alongside Gina Rinehart-backed Catalyst Metals (ASX: CYL) and Argentinian explorer E2 Metals (ASX: E2M) as delivering some of the best small-cap gold hits this week

Bardoc Gold (ASX: BDC) was rated by investment website Stockhead alongside Gina Rinehart-backed Catalyst Metals (ASX: CYL) and Argentinian explorer E2 Metals (ASX: E2M) as delivering some of the best small-cap gold hits this week. The advanced +3moz WA explorer said the Mayday North ‘satellite’ deposit at its namesake project near Kalgoorlie could actually be “a large-scale mineralised system” (Stockhead reports).

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Northern Star Resources boss Bill Beament has sounded another dire warning about mine shutdowns

Northern Star Resources boss Bill Beament has sounded another dire warning about mine shutdowns as Western Australia moves to test about 30,000 fly-in, fly-out resources industry workers for COVID-19 (reports The Australian Financial Review). Mr Beament said Australia's success so far in containing COVID-19 had in some ways ramped up the pressure on the resources industry, with just one positive case now more likely to cause a total site shutdown than in the early stages of the outbreak.

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Gold producer Red 5 has defined maiden resources for the Cerebus-Eclipse and Centauri satellite open pit deposits at its King of the Hills project in Western Australia (reports Stockhead)

Gold producer Red 5 has defined maiden resources for the Cerebus-Eclipse and Centauri satellite open pit deposits at its King of the Hills project in Western Australia (reports Stockhead). Cerebus-Eclipse has estimated resources of 2.8 million tonnes (Mt) grading 1.2 grams per tonne (g/t) gold, or 112,000 ounces of contained gold, while Centauri has a resource of 1.7Mt at 1.5g/t gold, or 81,300 ounces of contained gold.

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A respected London-based analyst has predicted the iron ore price will remain at $US80/t or higher for the next three years, providing a critical boost for the WA economy as it recovers from a COVID-19-led recession (reports The West Australian)

A respected London-based analyst has predicted the iron ore price will remain at $US80/t or higher for the next three years, providing a critical boost for the WA economy as it recovers from a COVID-19-led recession (reports The West Australian). Fitch Solutions has maintained its forecast for the price of the steel-making commodity this year at $US85/t but now predicts prices will rise to $US90/t next year as the Chinese economy recovers from the pandemic and lifts its already strong steel production further.

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Sentiment for the world’s most popular precious metal remains solidly positive with more investment voices piping up in support of further growth (reports Stockhead).

Sentiment for the world’s most popular precious metal remains solidly positive with more investment voices piping up in support of further growth (reports Stockhead). Gold is currently trading at $US1,702.90 per ounce with the Australian price standing at $2,649.82 per ounce thanks to the currency exchange rate. Bloomberg Intelligence has flagged that gold could easily reach the $US1,900 per ounce peak that it last scaled in 2011.

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Barrick Gold CEO Mark Bristow is confident the company will reach agreement with the Papua New Guinea government over the future of the Porgera mine (reports MiningNews)

Barrick Gold CEO Mark Bristow is confident the company will reach agreement with the Papua New Guinea government over the future of the Porgera mine (reports MiningNews). Last month, the PNG government refused to renew Porgera's special mining lease, which Bristow overnight admitted had been a surprise. Barrick and partner Zijin Mining are contesting the move, regarded as "tantamount to nationalisation without due process".

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