News

De Grey Mining  has reported further good news from the exciting new Hemi gold prospect in Western Australia’s Pilbara region, with first RC drilling giving strong geological encouragement and a diamond core rig set to arrive on site later this week (reports MiningNews). The RC drilling that intersected "large sulphide zones on Section B have the potential to significantly increase Hemi's scale", De Grey said.

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A revitalised junior gold exploration sector is enjoying positive investor sentiment and, more importantly, true exploration success (reports Stockhead). This morning’s big announcements come from Bardoc Gold, Oklo Resources, Los Cerros and Arrow Minerals. Bardoc Gold (ASX:BDC) has already bagged up a significant 3.02-million-ounce (moz) gold resource at its namesake project near Kalgoorlie in WA.

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Strandline Resources has attracted A$2 million from an undisclosed new institutional investor keen on its mineral sands prospects and is set to raise another $4.5 million via a fully underwritten rights issue (reports MiningNews). The new shares are to be priced at 12c each, with Strandline's stock little changed over the past two years. Strandline last issued more equity last May when $5.5 million was raised by issuing new shares at 12c each.

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State Reserve Funds are quietly draining metal and liquidity in physical copper out of the copper market in anticipation of substantial new demand (reports SP Angel mining analyst John Meyer in The Assay) Slowing global growth combined with news on the US-China trade war has held industrial customers back from buying, while hedge-fund selling and a stronger dollar has helped to lower copper prices.

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The coronavirus-induced market meltdown is creating buying opportunities everywhere, especially among base metals companies.

The coronavirus-induced market meltdown is creating buying opportunities everywhere, especially among base metals companies. None more so than mid-tier copper-gold miner Sandfire Resources (ASX: SFR), whose shares plumbed 5-year lows of $4.48 this week. In show of confidence in the mid-tier miner’s ability to bounce back strongly from the current malaise, Sandfire chief executive Karl Simich shelled out $226,395 earlier this week to top up his holding to the tune of 50,000 shares.

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The Big Australian’s new chief admits to reviewing the battery metal’s potential “on a regular basis”...

BHP’s posturing that it stands to benefit from the world’s great decarbonisation event – the electric vehicle and renewable energy storage revolution – through its electrification and battery metals exposures of copper and nickel is well known. It likes to call the exposures its “future-facing” commodities and it has just declared an appetite for more copper and nickel resource positions through exploration and early-stage entry into projects owned by others.

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In the second of his special series on commodities, Prospector’s Diary looks at the Devil’s Metal

Fortunes to rival those from gold have been made in the Australian nickel mining industry, but it is also a metal that more than lives up to its nickname of “devil metal” or “devil’s copper”. Erratic price movements which have seen nickel soar to more than $US20 a pound before crashing back to $US4/lb are the modern reason for treating nickel with caution.

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Saracen Mineral Holdings boss Raleigh Finlayson says the company wants to keep its powder dry for growth options around the Superpit...

Saracen Mineral Holdings boss Raleigh Finlayson says the company wants to keep its powder dry for growth options around the Superpit and to reduce debt before paying a long-awaited inaugural dividend (reports The Australian Financial Review). The Saracen board opted not to pay a half-year dividend in the wake of forking out $US750 million ($1.115 billion) for a half share in the Superpit gold operations.

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