News

Shares in Mincor Resources rose nearly 5 per cent after it revealed it would start generating cashflow in June under revised terms of its offtake agreement with Nickel West following the restart of its Kambalda nickel operations (reports The West Australi

The David Southam-led company revealed on Friday that ore delivered to Nickel West’s Kambalda concentrator by the end of next month would be converted to imputed concentrate production based on a grade recovery curve, resulting in first cashflow in June.

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TNG Ltd (ASX: TNG) has secured a $3.7 million research and development tax rebate as it rapidly advances its wholly-owned Mount Peake vanadium-titanium-iron operation for global markets (reports Small Caps).

The rebate comes under the Australian Government’s tax incentive scheme for any eligible research and development activities relating to TNG’s proprietary TIVAN processing technology. TNG is advancing an integrated mining, processing and refining operation for its Mount Peake project to produce high-value and high-purity vanadium pentoxide, titanium dioxide and iron oxide materials using its patented TIVAN technology. The tax rebate adds to the company’s cash position which was $14 million at the end of the March quarter. March quarter milestones

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Another record price for Pilbara Minerals’ product prompts MD Ken Brinsden to question analysts’ price assumptions. And Sandfire chief Karl Simich also has a message for the market: forget costs, focus on margins.

As is always the case in equity market shakedowns, there are babies thrown out with the bathwater. This time around it is the lithium babies that have been unceremoniously dumped by the professional money managers. There is really no excuse for it, remembering though that for every panicked seller there was a smiling buyer on the other side of the trade. Pilbara Minerals (PLS) demonstrates the point. It was trading happily at $3.43 a share at the start of April but has since been slammed 22% lower to $2.69, and that’s after a 9c lift in Thursday’s market.

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Australian investors crept out of their foxholes yesterday after a confidence-sapping week under a barrage of heavy fire that included news of soaring inflation, slowing growth, rising interest rates and higher taxes

Not to forget the potential for a change of government next month. Nuggets of good news from explorers could be found if you dug deeply. Coda Minerals added 3.5c rise to 65c after reporting more high-grade mineralisation at its Emmie project in South Australia and BMG added an impressive 2.4c (66%) to 6c thanks to a thick and rich gold intersection at its Abercromby project near Wiluna in WA.

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With open pit and underground mining underway on schedule at its flagship King of the Hills redevelopment in Western Australia, Red 5 is now describing the first gold pour as “imminent” (reports MiningNews).

The company, which has been relying on its aging Darlot mill for the better part of a year, said this morning the KOTH development was progressing within budget and on schedule, and its major risks were now the labour shortages that have plagued the industry for the past two years, and the unpredictable impacts of COVID-19 disruptions. Managing director Mark Williams, said creating the first gold bar was "just weeks away", with mining humming along well, the crushing circuit running, and the new 4.7 million tonne mill in the commissioning phase.

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Minerals 260 boss David Richards says the gold and copper hits the Liontown Resources spin-out company is getting at its Moora project shows how much of WA’s mineral wealth is yet to be discovered (reports The West Australian).

The company is continuing an aggressive drilling campaign at Moora, where is has a 1068sqkm footprint including the neighbouring Koojan joint venture project where it can earn 51 per cent by spending $4 million over five years.

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Mincor Resources boss David Southam says recent volatility in the nickel market has distracted investors from the healthy underlying fundamentals of the battery metal (reports The West Australian).

His comments come after Mincor released its March quarter activities report and follow the nickel market’s plunge into chaos last month, which prompted a suspension of trade of the commodity on the London Metals Exchange.

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A series of “outstanding” high-grade hits at Stavely Minerals’ namesake copper-gold project in western Victoria have paved the way for an initial mineral resource this quarter (reports Small Caps).

Intervals grading up to 7.17% copper, 30.6 grams per tonne gold and 52g/t silver at the project’s Cayley Lode were returned from a diamond drilling program designed to test the south-easterly plunge of mineralisation below the low angle structure. They included the deepest intercepts seen to date at the prospect.

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