News

With Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).

Money continues to pour in for early-stage nickel stocks, with Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).

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When a ship full of Fenix Resources’ iron ore sailed out of Geraldton port and into the sunset on Tuesday, the company’s managing director Rob Brierley could relax without fretting over slumping prices for his product (reports The Australian Financial Review).

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Back in 2017, when Red 5 bought the historic King of the Hills mine in WA from Saracen Mineral Holdings, it was supposed to be a high grade add-on to the mill it bought from Gold Fields around 100km north at Darlot (reports Stockhead).

While Darlot was a grand old operation that had continuously produced almost 3Moz of gold over three decades, King of the Hills had largely been a high grade satellite underground operation for St Barbara and Saracen since its life as the 1.65Moz Tarmoola open pit ended in 2004. At that point it had the misfortune to be in the portfolio of Sons of Gwalia, which also owned the Gwalia gold mine 30km to the south, on the doorstep of the northern Goldfields town of Leonora. SoG infamously collapsed under heavy debts and the weight of a poorly conceived hedging regime.

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Boss Energy (ASX: BOE) is a step closer to becoming Australia’s next uranium producer after revealing the front-end engineering and design (FEED) process at its Honeymoon project in South Australia is “well ahead of schedule” (reports Small Caps).

The company now expects the FEED study will be finished early next year. The study’s primary goals include finalising key technical decisions, producing foundational technical documents, as well as confirming and refining the budget and project scope. Once the study is complete and a final investment decision made, Boss will begin detailed design work and start ordering long-lead items. “We continue to extend our advantage as the most advanced emerging uranium producer in Australia,” Boss managing director Duncan Craib said.

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Well funded Alicanto has wasted no time launching an extensive drilling program to establish a maiden resource for its Sala project after its first hole hit bonanza grades of silver and zinc (reports Stockhead).

Confidence is growing, along with the number of drills at Alicanto, that the company has a significant opportunity to quickly produce its maiden resource at Sala within the next six months. An initial target area for the resource has been defined with 500m (strike), 500m (down-dip) and a mineralised zone containing multiple wide stacked lodes over 250m. “Grade is King” of course (and Sala has this in spades), with multiple stacked lodes also boding well for optimisation of a potentially high production rate in the near future based on wide and high-grade intercepts of:

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RareX has established its environmental, social and governance (ESG) framework as part of its sustainable development approach for the Cummins Range rare earths project in WA (reports Stockhead).

The company has adopted the World Economic Forum’s (WEF) framework guidelines as a basis to work from as it moves from exploration to operational mining activities. RareX (ASX:REE) says the ESG framework will help ensure that it can develop Cummins Range in a responsible and balanced manner, with due regard for safety, corporate governance, the environment, Indigenous relationships, community, and stakeholder engagement.

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BHP is joining forces to explore for metals crucial to the energy transition with a start-up backed by a group of tycoons including Jeff Bezos and Bill Gates (reports Bloomberg).

The miner has entered an alliance with Silicon Valley-based KoBold Metals to deploy its artificial intelligence technology to look for metals such as cobalt, nickel and copper, which are used in electrical vehicle chargers and batteries. The two companies will jointly fund and operate exploration programs — initially in WA — and will each have the right to share in any prospects. KoBold has used data-crunching algorithms to build what’s been described as a Google Maps for the Earth’s crust.

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Plus, eyes on Ioneer amid expectations of an imminent selldown at its Nevada lithium-boron project

Plus, eyes on Ioneer amid expectations of an imminent selldown at its Nevada lithium-boron project, Liontown spinout Minerals 260 to give maiden investor webinar today and Zenith awaits assays from JV partner Rumble and its Earaheedy zinc-lead zinc discovery in WA. It is an embarrassment for the gold sector that companies with Australian operations have been seriously outperformed this year by the ASX-listed west African gold producers. Good on the likes of Perseus (PRU) and West African (WAF) for showing up their Aussie counterparts too.

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