News

Things could hardly be better for BHP and its shareholders (reports The Australian Financial Review).

Things could hardly be better for BHP and its shareholders (reports The Australian Financial Review). With just 2½-months to go in the financial year, the mining giant’s March quarter production numbers released on Wednesday suggest it is on the cusp of beating its own iron ore export target for shipments in the full year of 286 million tonnes.

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Northern Star Resources is on track to hit full-year guidance despite production being blunted by a series of “one-off events”, including a two-week planned shutdown of its mill at Kalgoorlie-Boulder’s Super Pit (reports The West Australian).

Northern Star Resources is on track to hit full-year guidance despite production being blunted by a series of “one-off events”, including a two-week planned shutdown of its mill at Kalgoorlie-Boulder’s Super Pit (reports The West Australian). Northern Star’s first quarterly result since its $16 billion merger with Saracen Mineral Holdings was punctuated by fine-tuning and a minor hiccup at its Thunderbox mill near Leinster. But that did not derail the new entity that boasts a global portfolio and is one of the world’s biggest goldminers.

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Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews).

Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews). The company received 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide. The drilling expanded the G4-G11 zones to the north-east and the G1-G2 zones down-dip. G4 is now 1250m long with up to 600m of dip extent, while G11 is 1200m long with up to 300m of dip extent. Both are open to the north and down-dip.

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Two weeks ago I referred to the commodity super cycle that is under way. The stock prices of most resources companies have followed commodity prices on the way up (reports analyst Ryk de Klerk from the African News Agency).

Two weeks ago I referred to the commodity super cycle that is under way. The stock prices of most resources companies have followed commodity prices on the way up (reports analyst Ryk de Klerk from the African News Agency). The big question I asked myself is where I can find value in the resources sector. My starting point was to look for stocks such as junior or emerging mining companies that are often ignored or not followed by analysts. I used the JSE-listed junior mining companies in South Africa to calculate a Junior Mining Company Index for South Africa.

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The recent release of a DFS progress update by Liontown Resources (ASX: LTR) reinforces the view that its flagship Kathleen Valley project in WA is set to become “one of the next world-scale hard rock lithium projects

The recent release of a DFS progress update by Liontown Resources (ASX: LTR) reinforces the view that its flagship Kathleen Valley project in WA is set to become “one of the next world-scale hard rock lithium projects to supply the world’s insatiable demand for lithium products.” This is the view of leading Sydney-based broking and advisory firm Bridge Street Capital Partners in an updated research note triggered by the DFS update and recent sharp upward moves in the prices for lithium raw materials.

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The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz

The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz -- and might be there by the time you read this. Soft commodities and financial markets are also booming. Wheat is trading at a seven-year high. Timber in the U.S. is at an all-time high, as are share prices on the New York Stock Exchange.

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Plus, there is a buzz around Rumble’s impending zinc-lead assays and IGO prepares to start drilling at Boadicea’s Fraser Range plot.

The copper stocks weren’t in need of a confidence boost with the red metal continuing to trade at more than $US4.10-/lb. They got one anyway during the week when Goldman Sachs made the call that copper was necessarily on the path to an eye-watering $US6.80/lb in 2025. It was based on a familiar thematic – copper is essential to global decarbonisation and that after a couple of years of supply surplus caused by new production from mines being built now, a chronic supply deficit emerges.

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Gold tried to rise this week, with limited success, leaving the best gains to energy in its many forms,

Gold tried to rise this week, with limited success, leaving the best gains to energy in its many forms, led by oil but with lithium and other members of the battery-metal family (including copper) not far behind. Because so many Australian investors are exposed to gold it’s worth having a look at the changing dynamics of the gold market. These could put a floor under its price, which has dropped by 16% over the past nine months to latest trades at $US1738/oz.

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