News

Nickel won the gold medal at a major metals conference in London this week

Nickel won the gold medal at a major metals conference in London this week but not on the market where the price barely moved, an anomaly which should be corrected next year on the purest of fundamental measures - demand is rising and supply is falling. The muted reaction of nickel to the latest crack-down on exports of unprocessed metal by Indonesia was the biggest surprise on commodity markets, which continue to behave erratically thanks to the ongoing political and economic uncertainties in Europe, the UK and the US.

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Sandfire Resources (ASX: SFR) is a consistent copper producer and should meet its FY20 guidance of 70-72kt of copper output, according to Citi Research

Sandfire Resources (ASX: SFR) is a consistent copper producer and should meet its FY20 guidance of 70-72kt of copper output, according to Citi Research, with the company also now boasting a “full” project development pipeline. However, investors need to balance the modest remaining mine life at the company’s DeGrussa operation in WA with the development timing of new projects set to come on stream over the next two years in Botswana and the USA, Citi said in a new research note released following the company’s September quarterly report.

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Analysts remain cautiously optimistic on Dacian Gold after a strong quarter at its Mt Morgans gold operation near Laverton in Western Australia

Analysts remain cautiously optimistic on Dacian Gold after a strong quarter at its Mt Morgans gold operation near Laverton in Western Australia (reports MiningNews). As previously reported, the open pit and underground operation produced 42,002 ounces of gold in the September quarter, up from 36,658oz in the June quarter. The result puts Dacian ahead of its half-year guidance of 67,000-77,000oz of gold. All-in sustaining costs were A$1423 an ounce, and all-in costs were $1557/oz.

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Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation

Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation following its recent September quarterly report. And Morgans Stockbroking has maintained a 50c price target and ADD rating for the stock, with the brokerage picking a number of positives out of Red 5’s September quarterly results.

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On the cusp of releasing results from a scoping study at the Vareš prospect in Bosnia & Herzegovina, Adriatic Metals has raised A$25 million from institutions and said it will list on the London Stock Exchange (reports MiningNews). Adriatic said the funds will allow it to complete a bankable feasibility study. The funds are being raised by issuing new shares priced at $1 each. Prior to this new fundraising Adriatic was estimated to have in the order of $5-6 million cash.

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In November, explorer Hill End Gold changed its name to reflect its focus on the burgeoning high purity alumina (HPA) sector (reports Stockhead). HPA is used in lithium-ion battery components, LED lights, smart phone screens, and surgical tools. And demand is on the way up. Hill End was now Pure Alumina (ASX:PUA) – the name of the company Hill End bought in July 2017. This deal included its now-flagship Yendon HPA project.

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The evidence is mounting. For lithium prices — and accompanying sentiment — an upswing is on the horizon (reports Stockhead). This is especially welcome news for beleaguered ASX-listed producers, like Pilbara Minerals (ASX:PLS), Altura Mining (ASX:AJM), Galaxy Resources (ASX:GXY), and Orocobre (ASX:ORE) which have been shedding market cap at a rapid rate.

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Supply constraints will make nickel the top performing metal next year, despite the bearish pull of a downturn in manufacturing activity, delegates at LME Week heard (reports MiningNews). Speaking as part of a panel on the outlook for metals, Vanessa Davidson, director of base metals research and strategy at commodity analysis firm CRU, described nickel as "likely to be the standout performer for 2020".

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