News

Lithium prices were under sustained pressure from the outset in 2020 and then along came the coronavirus, prolonging weakness in the market as supply chains were de-stocked (reports Sharecafé).

Lithium prices were under sustained pressure from the outset in 2020 and then along came the coronavirus, prolonging weakness in the market as supply chains were de-stocked (reports Sharecafé). Now, the global economy is forecast to contract in 2020 and industrialised countries to suffer the most. Industrial usage for lithium represents around 40% of demand and this is expected to contract over 2020 before rebounding in 2021.

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Australian mining companies have weathered the COVID-19 storm relatively well thanks in no small part to the strength of the gold and iron ore sectors (reports Stockhead).

Australian mining companies have weathered the COVID-19 storm relatively well thanks in no small part to the strength of the gold and iron ore sectors (reports Stockhead). Tellingly, while the ASX200 is down 13 per cent for the year-to-date, the ASX300 Metals and Mining Index is down just 2 per cent over the same period. Prices for both gold and iron ore have been upgraded throughout the first half of 2020, with the former benefiting from its status as a safe haven in uncertain times.

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This week’s 33 per cent share price jump for Centaurus Metals (ASX: CTM) on the back a strong maiden resource estimate for its Jaguar nickel project in Brazil could be just the start of a sustained upward run for the stock

This week’s 33 per cent share price jump for Centaurus Metals (ASX: CTM) on the back a strong maiden resource estimate for its Jaguar nickel project in Brazil could be just the start of a sustained upward run for the stock, according to a raft of new broker notes released this week. The maiden Jaguar global resource of 517,000t of contained nickel at an average grade of 1.08% Ni sparked the release of four significant new research notes on the company, with target prices ranging from 62 to 95c.

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Strandline Resources continues to win strong support from broking houses around the country, with Hartleys the latest to increase its share price target on the emerging mineral sands producer.

Strandline Resources continues to win strong support from broking houses around the country, with Hartleys the latest to increase its share price target on the emerging mineral sands producer. In a new report released this week, Hartleys said its target for Strandline shares is now 42c (current price 27c). Strandline is in the throes of finalising funding for its Coburn project near Shark Bay in WA.

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The Ian Gandel-led sharemarket star is now onto a high-grade pod at its Boda porphyry in NSW while Tomingley looks set for a new lease on life and the rare earths project is about to be set free. Plus, Genesis on the fast-track to being a producer

Ian Gandel has long been an enthusiastic supporter of the Aussie mining and exploration industry. It has been nice to see then that his 23.5%-owned Alkane (ALK) where he is chairman has been a star performer of late, rising from 38c in September last year to this week’s $1.24, making for a $685 million company. It was last September that Alkane made its Boda gold-copper porphyry discovery in the northern Molong volcanic belt of NSW’s Macquarie Arc. After a half dozen or so serious follow-up holes since, Boda has been confirmed as something special.

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One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment

One door shuts and another opens. That’s the best way to see this week’s change-over in commodity market sentiment as iron ore started its inevitable decline after a spectacular 12-months to be replaced by strong demand and higher prices for copper, nickel and gold. The flip will not be immediate or universal but the trend is there for anyone to see, once you get past the latest outbreak of Covid-19 panic in the US and other parts of the world, including Australia’s own problem State, Victoria.

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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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