News

The junior gold exploration space was in need of a tonic in the wake of the recent wobbles in the gold price.

The junior gold exploration space was in need of a tonic in the wake of the recent wobbles in the gold price. And thanks to some spectacular results in the latest drilling by De Grey Mining (DEG), which is 16 per cent-owned by DGO Gold (DGO) from the Crow zone at its Hemi gold discovery in the Pilbara, the required tonic has arrived on cue. A thick and high-grade intersection of 64m grading 13.4g/t gold from 141, including 19m at 42g/t from 170m, got the pulses racing again, with De Grey itself rising 11% to 98.5c for a market cap of $1.05 billion.

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Interest rates lower for longer. Inflation higher for longer. That’s what the U.S. central bank wants, and it’s an unwise investor who bets against the most powerful bank in the world.

Interest rates lower for longer. Inflation higher for longer. That’s what the U.S. central bank wants, and it’s an unwise investor who bets against the most powerful bank in the world. Details of what could be a significant change in Federal Reserve policy will become clearer over the next few days but a glimpse of what might be coming could be seen on Australian markets ahead of a key speech by the bank’s chairman, Jerome Powell.

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Sandfire Resources boss Karl Simich says the miner is well placed to take advantage of higher copper prices as the world emerges from a COVID-led recession (reports The West Australian).

Sandfire Resources boss Karl Simich says the miner is well placed to take advantage of higher copper prices as the world emerges from a COVID-led recession (reports The West Australian). Speaking after the company posted a 30 per cent slide in full-year profit to $74.1 million, Mr Simich noted the copper price was up 35 per cent from its COVID-low in March. The price of copper is often regarded as a barometer of the health of the global economy. Copper was trading near a two-year high of $US2.99/lb.

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Macquarie has significantly boosted its iron ore price forecasts, leading to earnings upgrades of 30-50% for BHP, Rio Tinto, Fortescue Metals Group and Mineral Resources for the 2021 financial year (reports MiningNews).

Macquarie has significantly boosted its iron ore price forecasts, leading to earnings upgrades of 30-50% for BHP, Rio Tinto, Fortescue Metals Group and Mineral Resources for the 2021 financial year (reports MiningNews). The MySteel 62% Australian iron ore fines price hit a six-year high of US$128.50 per tonne this week. Macquarie has lifted its forecast for 2020 by 14% to $105/t, and by 27% to $100/t for 2021.

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It’s been five years of hard graft for Orion Minerals with its Prieska copper-zinc project in South Africa (reports The West Australian).

It’s been five years of hard graft for Orion Minerals with its Prieska copper-zinc project in South Africa (reports The West Australian). But the company’s diligence is beginning to pay off with investors sending its shares to a near 12-month high of 3.2¢ yesterday. Orion reported this week it had secured all permits for the refurbishment and eventual restart of the historic mine.

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Kairos Minerals (ASX: KAI) has begun a 5,000m reverse circulation (RC) drilling program at its growing Pilbara gold project in Western Australia (reports Small Caps).

Kairos Minerals (ASX: KAI) has begun a 5,000m reverse circulation (RC) drilling program at its growing Pilbara gold project in Western Australia (reports Small Caps). Drilling is now underway at what the company calls the “exciting” Fuego prospect with the Mt York prospect to follow. This is part of a large 2020 exploration program that includes soil and rock chip sampling, mapping, airborne magnetic and radiometric surveys, sub-audio magnet surveys as well as RC drilling.

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US chemicals giant Albemarle will begin a recruitment drive next month for up to 300 operational roles at its new lithium hydroxide plant at Kemerton, defying negative sentiment regarding the battery metal (reports The West Australian).

US chemicals giant Albemarle will begin a recruitment drive next month for up to 300 operational roles at its new lithium hydroxide plant at Kemerton, defying negative sentiment regarding the battery metal (reports The West Australian). The staged hiring campaign will initially target production operators with later recruitment waves employing laboratory technicians and tradespeople such as fitters, boilermakers and electrical instrumentation technicians for maintenance roles.

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UBS has upgraded its forecasts for the gold price for 2021 and 2022 (reports MiningNews).

UBS has upgraded its forecasts for the gold price for 2021 and 2022 (reports MiningNews). Next year, it sees gold averaging US$2100 an ounce, up from $1850/oz, and in 2022, averaging $2000/oz, up from $1750/oz. "We are raising our gold forecasts, now expecting prices to run higher and stay elevated for a longer period than we previously expected," UBS analysts said. Spot gold rose as high as $2063/oz on August 6, but last traded at $1928/oz. UBS' new 2021 forecast is 35% ahead of consensus of $1555/oz.

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