News

Plus, Antipa tantalises investors with a tale of nine rigs and four programs while Talisman counts the cash from a juicy iron ore royalty.

Back in the day, state schoolboys and girls would sit around the fire at the school camp and sing kumbaya. And they probably still do. It was different for the boys-only private schools. They preferred to sing about Daddy’s portfolio. One of their favourites went like this: We’ve shares in the very best companies; In tramways, tobacco and tin; In brothels in Rio ‘Janeiro; By god how the money rolls in. Singing about tobacco and brothels is not encouraged nowadays, and private investment in tramways is not an option.

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Exploration and discovery news will become more important than ever for investors in Australian resources after this week’s intervention by China in commodity markets followed by another warning from the U.S. that higher interest rates are on the way.

The Chinese plan to sell surplus material from government stockpiles of critical metals such as copper and nickel has had a dampening effect on prices, while the U.S. central bank’s interest rate signal mean that gold faces a tough time. Both of those events at the top of the investment food chain had been widely expected as markets rattled by the Covid-19 pandemic start to normalise, radiating out ripples of uncertainty.

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18th June 2021

Bellevue Gold's grade-control drilling has confirmed the continuity of the Tribune Lode

Bellevue Gold's grade-control drilling has confirmed the continuity of the Tribune Lode, in Western Australia's Eastern Goldfields, delivering exceptional intercepts, such as 2m at 176.6 grams per tonne within 5m at 76.4gpt from 55m; and 5m at 31.7gpt from 43m (reports MiningNews). The company says its two-rig program, on a 10m by 10m pattern, is rapidly advancing the resource drill-out ahead of development, and continues to show the robustness of the resource within the planned open-pit.

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18th June 2021

Auteco Minerals is flagging open pit potential at its Pickle Crow project in Canada

Auteco Minerals is flagging open pit potential at its Pickle Crow project in Canada, with the discovery of shallow high-grade gold while testing the Carey target, with intercepts such as 20.4m at 5.3gpt from 102.7m, including 2.2m at 9.3gpt (reports MiningNews). In addition to Carey, drilling has extended the known high-grade gold mineralisation in the Shaft 3 and Shaft 1 areas, including a previously undiscovered shear vein, with hits such as 4.9m at 7.5gpt from 483m and 3.3m at 8gpt from 836m.

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An increase in steel prices coupled with burgeoning demand for high quality ore from Chinese producers should keep iron ore miners buoyant

An increase in steel prices coupled with burgeoning demand for high quality ore from Chinese producers should keep iron ore miners buoyant in the third quarter as their copper-focused counterparts slide on softening prices, according to investment bank Jefferies (reports MiningNews).

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RareX (ASX:REE) has strengthened its executive team to help drive development of its Cummins Range rare earths project and exploration work (reports Stockhead).

The company has appointed James Durrant as its general manager of projects to oversee studies at the flagship Cummins Range project in Western Australia’s East Kimberley region. Cummins Range has a current inferred resource of 13 million tonnes at 13 per cent total rare earth oxides for 147 million kg of TREO.

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Impressive results of up to 60m at 3.03g/t gold continue to highlight potential to grow all key deposits that make up Genesis Minerals’ (ASX:GMD) 1.6Moz Ulysses gold project in WA (reports Stockhead).

Drilling has now confirmed mineralisation over 400m of strike at the Puzzle North discovery, about 700m north of the shallow 59,000oz Puzzle resource. Besides the top hit — which includes a high-grade zone of 8m at 12.9 grams per tonne (g/t) gold — new intercepts also include 84m at 1.98g/t gold from 84m (including 10m at 6.31g/t gold from 116m) and 40m at 2.52g/t gold from 44m. And there’s still room to grow. Mineralisation at Puzzle North remains open along strike and at depth along the granite-greenstone contact, meaning that further drilling could uncover more gold.

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Most of the big names in Australian gold mining have had a rough ride recently as the gold price has struggled to reclaim last year’s all-time high

...but it’s a different story at the small end of the game where exploration success is the key to share price movement (reports Tim Treadgold on Small Caps). The difference between producers and explorers is an interesting example of the old saying about it being better to travel than to arrive. Dividends and yield have become the primary appeal of some big gold producers, a novel situation given the high risks associated with any form of mining and a position which will be challenged in the next interest-rate rising cycle.

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