News

4th September 2020

DevEx Resources managing director Brendan Bradley says the company is aiming to build momentum in the next few months

DevEx Resources managing director Brendan Bradley says the company is aiming to build momentum in the next few months with plenty of news flow expected (reports MiningNews). The company is active at three projects in two Australian hot spots: Basin Creek and Junee in New South Wales' Lachlan Fold Belt, and Sovereign in Western Australia's Julimar complex.

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Gateway’s expanded exploration program is off to a flying start with high-grade gold intersected 1.1km north of the existing 120,000oz Montague-Boulder resource (reports Stockhead)

Gateway’s expanded exploration program is off to a flying start with high-grade gold intersected 1.1km north of the existing 120,000oz Montague-Boulder resource (reports Stockhead). The first pass drilling at the Gidgee project in WA’s mineral-rich Murchison and Northern Goldfields returned significant intersections from both the mafic-hosted Contact Zone and from stockwork mineralisation.

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A recent site visit to Genesis Minerals’ (ASX: GMD) recently expanded Ulysses gold project in Western Australia has struck a chord with Argonaut Securities

A recent site visit to Genesis Minerals’ (ASX: GMD) recently expanded Ulysses gold project in Western Australia has struck a chord with Argonaut Securities, with the broker saying the project offers “significant value upside”. Argonaut analysts Michael Eidne and Matt Keane have reaffirmed the broker’s Speculative Buy recommendation on the $142 million gold explorer-developer, with a 10c target price (compared with the recent trading price of 7.8-8c). “We were impressed with the operations and the infrastructure in place,” Eidne wrote in a recent update note.

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The prospect of further offtake agreements and completion of project funding has prompted Foster Stockbroking to increase its price target for emerging mineral sands producer Strandline Resources.

The prospect of further offtake agreements and completion of project funding has prompted Foster Stockbroking to increase its price target for emerging mineral sands producer Strandline Resources. Foster lifted its price target from 42c a share to 53c this week (shares are currently 25c), citing several impending share price catalysts as it counts down to the start of construction at its Coburn mineral sands project in WA.

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The junior gold exploration space was in need of a tonic in the wake of the recent wobbles in the gold price.

The junior gold exploration space was in need of a tonic in the wake of the recent wobbles in the gold price. And thanks to some spectacular results in the latest drilling by De Grey Mining (DEG), which is 16 per cent-owned by DGO Gold (DGO) from the Crow zone at its Hemi gold discovery in the Pilbara, the required tonic has arrived on cue. A thick and high-grade intersection of 64m grading 13.4g/t gold from 141, including 19m at 42g/t from 170m, got the pulses racing again, with De Grey itself rising 11% to 98.5c for a market cap of $1.05 billion.

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Interest rates lower for longer. Inflation higher for longer. That’s what the U.S. central bank wants, and it’s an unwise investor who bets against the most powerful bank in the world.

Interest rates lower for longer. Inflation higher for longer. That’s what the U.S. central bank wants, and it’s an unwise investor who bets against the most powerful bank in the world. Details of what could be a significant change in Federal Reserve policy will become clearer over the next few days but a glimpse of what might be coming could be seen on Australian markets ahead of a key speech by the bank’s chairman, Jerome Powell.

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US chemicals giant Albemarle will begin a recruitment drive next month for up to 300 operational roles at its new lithium hydroxide plant at Kemerton, defying negative sentiment regarding the battery metal (reports The West Australian).

US chemicals giant Albemarle will begin a recruitment drive next month for up to 300 operational roles at its new lithium hydroxide plant at Kemerton, defying negative sentiment regarding the battery metal (reports The West Australian). The staged hiring campaign will initially target production operators with later recruitment waves employing laboratory technicians and tradespeople such as fitters, boilermakers and electrical instrumentation technicians for maintenance roles.

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UBS has upgraded its forecasts for the gold price for 2021 and 2022 (reports MiningNews).

UBS has upgraded its forecasts for the gold price for 2021 and 2022 (reports MiningNews). Next year, it sees gold averaging US$2100 an ounce, up from $1850/oz, and in 2022, averaging $2000/oz, up from $1750/oz. "We are raising our gold forecasts, now expecting prices to run higher and stay elevated for a longer period than we previously expected," UBS analysts said. Spot gold rose as high as $2063/oz on August 6, but last traded at $1928/oz. UBS' new 2021 forecast is 35% ahead of consensus of $1555/oz.

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