News

13th September 2019

There was a time there back in 2016 when it looked as if the Australian nickel industry would wither away to nothing (reports Barry FitzGerald on MiningNews). he industry was in survival mode in response to the crash in nickel prices from 2011's magical annual average peak of US$10.36/lb to 2016's miserable $4.35/lb. At the big end of town, BHP wanted out of Nickel West and was no longer investing in the metal, First Quantum was a year away from mothballing Ravensthorpe, and there were question marks over the ability of Glencore's Murrin Murrin to survive.

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He’s one of Australia’s most successful gold analysts with a track record of picking the sector’s winners and losers ahead of the market.

He’s one of Australia’s most successful gold analysts with a track record of picking the sector’s winners and losers ahead of the market. And now he has revealed the stock he believes will be the next winner in the red-hot Australian gold mining sector. Bardoc Gold (ASX: BDC) has been named by Hartleys analyst John Macdonald as a “buy” based on its rapid success in building a 2.7 million-ounce resource in the heart of WA’s goldfields.     

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Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2.

Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2. It really was a case of “as well they might”.  The ASX lithium sector has been beaten up badly since the bid was announced.

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It’s not easy being an optimist during a trade war, but there is a positive pattern emerging from negative events such as Brazil’s iron ore crisis and Indonesia’s nickel export ban, and if you look closely there could be another outage-event looming.

It’s not easy being an optimist during a trade war, but there is a positive pattern emerging from negative events such as Brazil’s iron ore crisis and Indonesia’s nickel export ban, and if you look closely there could be another outage-event looming. Rare earths, which have been on investor radar screens for the past year, have come off the boil lately, with local sector leader Lynas Corporation sliding over the past month by 44c (15%) to $2.41.

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Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review).

Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review). CATL will pay $55 million for 8.5 per cent of Pilbara, under a placement that effectively values the Western Australian lithium exporter at $646 million. CATL makes electric vehicle batteries for car manufacturers like BMW, and is currently building a factory in Germany to supply BMW and other customers.

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Bardoc Gold is adding a historical high-grade mine into its mix of assets north of Kalgoorlie

Bardoc Gold is adding a historical high-grade mine into its mix of assets north of Kalgoorlie with the inexpensive acquisition of a tenement called Vettersburg (reports MiningNews). The tenement is 7.5km from Bardoc's cornerstone Zoroastrian deposit and contains the Slug Hill gold mine that yielded 20,008 ounces in dirt grading 23.5 grams per tonne when worked for a few years either side of 1900 and then again from 1905-1908. Consideration is A$60,000 cash and three million 20c options for vendors' Kevin Iles, Brett Scott and Geofrey Bloomfield.

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South Africa faces an uphill battle to restore its reputation as an international mining destination, with investors hesitant to back projects there after years of policy upheaval (reports The Australian).

South Africa faces an uphill battle to restore its reputation as an international mining destination, with investors hesitant to back projects there after years of policy upheaval (reports The Australian).

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Lucapa Diamond Company has posted a US$1.1 million net profit after tax for the first six months of the year (reports MiningNews).

Lucapa Diamond Company has posted a US$1.1 million net profit after tax for the first six months of the year (reports MiningNews). The result compared with a $4.3 million loss for the first half of 2018 and came despite a challenging period for the diamond sector. Diamond sales for the half were $29.4 million, including $22.1 million from the Lulo mine in Angola. At the new Mothae mine in Lesotho, diamond carat production was 36% ahead of plan, while operating costs were 14% below forecasts.

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