News

Emerging sulphate of potash developer Trigg Mining (ASX: TMG) has been valued at 40c by Sydney-based equities research group Corporate Connect in a comprehensive initiation research report issued just weeks before the company delivers a scoping study on its flagship Lake Throssell SOP project in WA. The eye-catching valuation, which compares with a current share price of 10.5c, is informed from more progressed peer projects and a discounted cash-flow equity derived value “with potential upside as its projects de-risk through development stages.”

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And again its juniors like Kalium and Trigg which offer the leverage. Plus, African Energy positions for big Queensland copper play and Argonaut sees much upside at WA gold developer Bardoc.

The need to “feed-the-world” thematic was on full display this week when BHP finally got around to approving a $US5.7 billion stage 1 development of its Jansen potash project in Canada. BHP reckons its got a 100-year business in the making as potash demand grows in response to global  population growth. The notion is that fertilisers like potash are needed in increasing amounts because crop yields have to rise to offset the pressure on food supplies from the dwindling availability of arable land, and because water is becoming a scare commodity.

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Any doubts investors might have had about the power of environment, social and governance (ESG) issues to dictate corporate decision making were blown away this week when BHP caved into activist pressure to quit the oil and gas business.

The deal, which will see Woodside Petroleum acquire BHP Petroleum, has not been well received on financial markets, with both companies sold down and some big BHP shareholders indicating they will oppose the transaction when put to a vote next year. But whether BHP and Woodside achieve their desired marriage of convenience is not the big issue for investors. The more important point is that ESG considerations have now been elevated to a company-making (and breaking) level.

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Rich Lister Chris Ellison believes his mining services empire could work alongside mining entrepreneur Bill Beament

Rich Lister Chris Ellison believes his mining services empire could work alongside mining entrepreneur Bill Beament as the latter seeks to turn a small exploration company into the sort of mixed business that made Ellison a billionaire (reports The Australian Financial Review).

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Calidus Resources says it has begun mining at its $120 million Warrawoona gold project near Marble Bar with gold production scheduled in the June quarter of next year (reports The West Australian).

The Dave Reeves-led company said yesterday the project was 50 per cent complete and continuing in line with its budget and schedule. “Delivery of first ore to the run-of-mine pad is always an important marker in a project’s development and confirms we are on track to be Australia’s next gold producer,” Mr Reeves said.

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Aspiring uranium producer Boss Energy (ASX: BOE) has confirmed its shares have been upgraded from trading on America’s over-the-counter pink open market to the OTCQB venture market under the ticker symbol “BQSSF” (reports Small Caps).

The move was made due to growing international demand for Boss equity and the fact that over 20% of its share capital is held by US investors. It was led by global market operator MCAP Securities and investment banking firm Viriathus Capital and will see Boss retain its primary listing on the Australian Stock Exchange. The OTC market is managed by a broker-dealer network as opposed to a centralised exchange and can involve equities, debt instruments and derivatives.

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There’s more than a little exuberance around the outlook for uranium equities in 2021 (reports Stockhead).

Uranium bulls are convinced tightness in the market and the emergence of Sprott’s new yellowcake buying public trust will see prices for the nuclear fuel finally take off. The folk at Morgan Stanley are bullish as well, so bullish it ranks alongside aluminium and met coal as its most attractive asset class. While Morgan Stanley is cold on iron ore, the uranium outlook is hot, hot, hot. It’s worth noting the commodities are coming from very different places.

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The gold price itself had 12 months of consolidation. Now we are entering a new stage of a bull market which Barry Dawes of Martin Place Securities believes “will take it much, much higher” (reports Stockhead).

In the big scheme of things, the pullback we have seen over the past 12 months is ‘small beer’, Dawes told the Virtual Gold Conference earlier this week. “Now everything is aligned up for gold prices in the decade to be very strong,” he says. “The short and medium term looks very good; the long term looks very good.” Punters should look to the big gold stocks in the US – they are the ones that matter, Dawes says.

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