News

The old saying is that the best place to find a resource is to explore where it has been discovered before, and that is the well-travelled strategy that Resources & Energy Group is bring to bear in the Menzies goldfield, where CEO Christian Price says there has been a lack of dedicated exploration (reports MiningNews). REZ secured the East Menzies assets from vendors including g director Richard Poole, last November, and after around six months of delving into the data undertook its maiden drilling program mid-year, with a follow-up program to the south starting now.

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Global producers of electric cars have big ambitions and a bigger problem: supplies of a key material are running short (reports The Wall Street Journal). Nickel sulfate is a brilliantly coloured crystalline substance used in electric-vehicle batteries. The ore most commonly used to produce it is mined in only a handful of places -- and they include some of the most politically or operationally challenging, such as Russia or Canada’s frozen Northeast.

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Martin Place Securities’ Barry Dawes says market conditions are positioning both the gold price and equities to soar (reports MiningNews). "I've never been more excited than where we are today," the always bullish Dawes told ResourceStocks Sydney today. He noted Asian countries bought up gold when it was cheap, while inventories had run down in the West. "The West is generally short gold," Dawes said. "Because there are short positions in the West, we're going to see that driving the gold price much higher."

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Australia highlighted just how vulnerable the US is in the area of rare earths in an attempt to attract more investment to the local industry (The Australian Financial Review reports). A report from the Morrison government outlines how reliant the US has become on China in rare earths and exposes gaping holes in the supply chain for the materials that are becoming increasingly important in electric vehicles, electronics and military applications.

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Plus, Red 5 poised for promotion to the next league of ASX gold producers. And Macquarie sees short-term bullish catalysts for commodities.

Stavely Minerals (ASX:SVY) has added a stunning second leg to its big-time copper hunt in the shadows of the Grampian Ranges in western Victoria, with the first hole in a new shallow-focussed drilling program assaying up to 40% copper. The spectacular hit was made at the Thursday’s Gossan prospect, with the diamond drill hole specifically targeting shallow and structurally controlled mineralisation within the Ultramafic Contact Fault (UCF).

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Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday

Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday, and the negative influence of international political shenanigans, to leave financial markets in an eerie truce. Stavely’s exceptional copper assays from its Thursday’s Gossan project in Victoria (the subject of Barry Fitzgerald’s column, above) lit up the market, along with Mincor’s high-grade nickel hit at the Cassini project in WA and Azure Minerals’ exceptional zinc recoveries at its Oposura mine in Mexico.

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The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten

The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten after a site visit last week (reports MiningNews). Northern Star hosted a group of analysts and investors at site following the Denver Gold Forum, with some returning after 12 months to view the company's progress after it took ownership in late September 2018. Since then, the company has been working on an 18-month "renovation" of the asset, a Jundee lookalike, to realise its full potential.

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Gold’s return to $2200 an ounce appears to have shifted the fear-v-greed equation for shareholders in a pair of juniors targeted by Northern Star Resources and Silver Lake Resources (reports The Australian).

Gold’s return to $2200 an ounce appears to have shifted the fear-v-greed equation for shareholders in a pair of juniors targeted by Northern Star Resources and Silver Lake Resources (reports The Australian). Both bids are backed by the boards of the respective targets, but Silver Lake’s all-share offer for Egan Street Resources, and its Rothsay gold project in WA, looks to be in the most trouble.

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