News

Plus, Matador builds a following ahead of scoping study on Newfoundland gold project and Rio chief J-S Jacques still keeping mumm on a maiden resource at its Winu copper-gold find.

It was mentioned here back in May 2017 that a little thing called Draig Resources was out to emulate the success of others in reviving old high-grade WA gold fields by finding new resources at depth or in adjacent locations. Draig had picked up the Bellevue mine to the north-west of Leinster the year before. Discovered in the 1890s, Bellevue came with a production history of 800,000oz at a grade of 15g/t but it produced its last gold in 1998 and was left to slumber until Draig came along.

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A heightened aversion to risk dominates the thinking of most investors as fear of the coronavirus and its impact on the global economy drives money into gold, but if there’s one base metal well placed to ride out this burst of uncertainty it’s Dr Copper.

A heightened aversion to risk dominates the thinking of most investors as fear of the coronavirus and its impact on the global economy drives money into gold, but if there’s one base metal well placed to ride out this burst of uncertainty it’s Dr Copper. That nickname for copper says a lot about the metal itself because it goes to the secret of its success as a commodity with a vast range of uses, from electronics to construction and transport – especially in electric vehicles, which use three-times the amount of copper as conventional vehicles.

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Strandline Resources has attracted A$2 million from an undisclosed new institutional investor keen on its mineral sands prospects and is set to raise another $4.5 million via a fully underwritten rights issue (reports MiningNews). The new shares are to be priced at 12c each, with Strandline's stock little changed over the past two years. Strandline last issued more equity last May when $5.5 million was raised by issuing new shares at 12c each.

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State Reserve Funds are quietly draining metal and liquidity in physical copper out of the copper market in anticipation of substantial new demand (reports SP Angel mining analyst John Meyer in The Assay) Slowing global growth combined with news on the US-China trade war has held industrial customers back from buying, while hedge-fund selling and a stronger dollar has helped to lower copper prices.

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28th February 2020

Sandfire is not alone in having a beaten up share price in response to the slide in copper prices, first because of the US-China trade war, and now because of the unknowns around the coronavirus (writes Barry FitzGerald on MiningNews).

Sandfire is not alone in having a beaten up share price in response to the slide in copper prices, first because of the US-China trade war, and now because of the unknowns around the coronavirus (writes Barry FitzGerald on MiningNews). But Sandfire has been beaten up more than most, with its 22% share price fall since the start of the year comparing unfavourably with the 10% fall for the copper/gold producer it is most often compared with, OZ Minerals.

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Saracen is an Australian based gold producer that, following the acquisition of 50% of The Super Pit, owns three gold producing centres all within a 300km radius of Kalgoorlie in the mining friendly jurisdiction of Western Australia

Saracen is an Australian based gold producer that, following the acquisition of 50% of The Super Pit, owns three gold producing centres all within a 300km radius of Kalgoorlie in the mining friendly jurisdiction of Western Australia (reports NovaPort Capital’s Mitch Ryan on Livewire).

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Exceptionally high-grade grades have been heralded by Stavely Minerals

Exceptionally high-grade grades have been heralded by Stavely Minerals, with the company claiming the latest assays from Victoria’s Thursday’s Gossan prospect continue to support an exciting shallow resource in the Cayley Lode (reports MiningNews). The latest diamond hole, 20m north-west of September's discovery hole, returned 1m at 26.9% copper, 8.48 grams per tonne gold and 201 grams per tonne silver within, 8m at 5.12% copper, 1.48gpt gold and 34.3gpt silver from 121m.

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The exploration spotlight swings back on to Stavely Minerals (ASX:SVY) in coming days with the expected release of latest drill results from its Thursday’s Gossan copper-gold discovery in the Stavely volcanic belt in western Victoria (reports Barry FitzGerald on Stockhead).

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26th - 27th May 2020

Gold Coast Conference

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