Nickel starred again this week as Australia’s richest man and Australia’s biggest mining company locked horns in a Canadian takeover battle which has already delivered a 200 per cent gain for some investors in just four months.
The clash, which has pitted iron ore billionaire Andrew Forrest against BHP, has driven the price of Toronto-listed Noront Resources from C24 cents in late May to C75c.
But the more important point about the fight for Noront is that it is likely to be replicated in the Australian nickel sector, and if that isn’t a sector-wide buy signal I don’t know what is.
The backstory with nickel should be well understood. It’s a metal which has graduated from being primarily used in the production of stainless steel into the technical metal space as a key ingredient in batteries.
Gold hits have continued for Kin Mining (ASX: KIN) at its flagship Cardinia gold project near Leonora in Western Australia, with drilling at the nearby newly discovered Eagle-Crow prospect also returning wide high-grade zones (reports Small Caps).
Initial reverse circulation drilling at Eagle-Crow, which is 2km west of Cardinia has unearthed up to 17m at 3.75 grams per tonne gold from 43m, including 4m at 5.45g/t gold from 43m and 3m at 12.9g/t gold from 54m; 6m at 4.19g/t gold from 130m; and 5m at 3.1g/t gold from 55m.
Kin noted these RC results follow on from aircore drilling hits at the prospect earlier this year.
The results also confirm mineralisation over 500m of strike at Eagle and two zones of 400m each at Crow.
Australian explorer Boss Energy (ASX: BOE) has confirmed it will trial a seismic reflection program as part of a strategy to grow the inventory at its Honeymoon uranium project in South Australia (reports Small Caps).
The program is designed to identify likely uranium-bearing sediments within known mineralised palaeochannels at the project ahead of a drilling campaign scheduled to start in the coming quarter.
While reportedly ubiquitous in oil exploration, seismic surveying is relatively novel in the exploration of shallow mineral deposits.
Boss recognised the potential advantages offered by seismic methods in 2019 and began adopting them due to their low cost, low impact and speedy approach to exploration.
Forming part of the approvals process for its Mount Peake vanadium-titanium-iron project in the Northern Territory, TNG Limited (ASX: TNG) has submitted a detailed assessment of alternative sites for Tivan processing facility (TPF) (reports Small Caps)
The resource and minerals processing tech company is proposing the Middle Arm industrial precinct in Darwin as the location for the facility due to its close proximity to existing utilities and transport infrastructure and availability of gas and water.
The company received a direction from the NT Environment Protection Authority in May to provide additional information to supplement its draft environmental impact statement (EIS).
Sandfire Resources says it is cashed up and has an ideal launching pad to build a new copper mine in Botswana and replace its ageing DeGrussa operations in WA as the push to decarbonise sparks demand for copper (reports The Australian Financial Review))
The company reported record profit and revenue and declared its biggest final dividend on the back of strong copper prices and a jump in earnings from DeGrussa as the mine enters its twilight.
However, the results were weaker than analyst expectations and there was little new information on the company’s growth projects.
Managing director Karl Simich said Sandfire was in a strong position to pursue its growth options, with updates just weeks away.
Thousands of tonnes of heavy-duty mining machinery will be arriving in Kalgoorlie-Boulder in the coming months as the Super Pit’s owner takes delivery of a fleet of 39 new trucks (reports The West Australian).
The new Caterpillar 793F, with a nominal payload of about 230 tonnes, will replace the existing fleet that has been operating at the mine for more than two decades.
The trucks will be transported on Great Eastern Highway between Perth and Kalgoorlie-Boulder during the next seven months, with Super Pit owners Northern Star flagging the potential for traffic delays.
KCGM operations general manager Nick Strong said the safety of its people and community was the company’s priority.
Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade
Describing itself as “Australia’s next gold producer”, Bardoc Gold’s (ASX: BDC) cash flow optimisation study for its namesake project in Western Australia has confirmed the viability of company’s plan to bring-forward production from the larger high-grade Aphrodite deposit (reports Small Caps).
The study evaluated Bardoc’s new strategy to bring forward production from Aphrodite, which will require more initial capital expenditure of $232.4 million compared to the $177.4 million outlined in the definitive feasibility study that was published in March.
Drill results from Coda Minerals this week suggest the explorer could be closing in on a large-scale iron ore copper gold deposit at its Elizabeth Creek project in South Australia (reports The West Australian).
Punters poured into the stock in June, sending its share price from less than 40¢ to a high of $1.76 when it reported 50m of copper mineralisation from its first diamond drill hole at its Emmie Bluff Deeps prospect.
Subsequent assays revealed a total of 35m of mineralisation with peak copper grades of 5.39 per cent and 1.19g/t gold.
This week the company released the results of wedge holes off the original parent hole at a depth of 500m that included 12.9m at 3.5 per cent copper and 0.6g/t gold with peak grades of 15.3 per cent and 4.49g/t respectively.