News

Continued consolidation of the gold sector could be a theme for the rest of 2020...

Continued consolidation of the gold sector could be a theme for the rest of 2020, according to the investment arm of Bank of America, which believes there is a wave of mid-tier mergers on the way thanks largely what’s happened at the top end of gold. The bank’s argument revolves around last year’s big North American deals which saw Newmont merge with Goldcorp and Barrick acquire Randgold a double-barrelled process which has also seen a large number of non-core assets sold, including the Kalgoorlie Superpit.

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St Barbara has confirmed its third downgrade of gold production volumes in the space of eight months, with its Australian and Papua New Guinea mines both falling short of expectations (reports The Australian Financial Review). The $2 billion company's gold output in fiscal 2020 will be up to 5 per cent lower than was suggested in October, and that October guidance was itself trimmed from the expectations that were set in May 2019.

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Plus, Legend’s latest assays fuel hopes of a new nickel-copper find in the Fraser Range and Sprott eyes a golden girl in Kalamazoo

The cooling US-China trade war is a positive for metals and bulk commodities, none more so than for zircon. The trade war was seen as a key factor in the price weakness for the key mineral sand in the back half of 2019. Tied as it is to building and housing activity along with some other sectors, zircon, like copper, is something of a bellwether of global economic activity.

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Welcome back to Prospector’s Diary after a Christmas break that saw a number of significant developments...

Welcome back to Prospector’s Diary after a Christmas break that saw a number of significant developments, and while a trade-war truce might seem to be most important, there are other contenders, including a fall in the value of the US dollar and the overdue return of inflation. Taken collectively, it’s hard to not see 2020 being a good year for resources with a glimpse of what’s to come to be found in a stronger-than-expected price for iron ore, a rising copper price, heavy-duty support for gold and a record high for leading indices which track the Australian stock market.

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Analysts at Morgan Stanley have named Whitehaven Coal, Sandfire Resources and Mineral Resources as their top three mining picks

Analysts at Morgan Stanley have named Whitehaven Coal, Sandfire Resources and Mineral Resources as their top three mining picks (reports The Australian Financial Review). "Whitehaven coal is generating strong free cash flow on both our base case and spot commodity price scenarios," the broker wrote. It has an overweight rating on the coal miner and reckons it has some 43 per cent upside based on a $3.65 valuation.

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Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria

Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria, a prospect it believes has hallmarks of being world-class (reports MiningNews). Hartleys believes early stage copper mining inventory of plus-12-15 million tonnes at a "good grade" of 2.5-3% copper equivalent is possible, "however the true ‘size of the prize' may take some time to crystallise".

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A boardroom bust-up put Anglo Australian Resources (ASX:AAR) in the headlines before Christmas for the wrong reason (reports Tim Treadgold on Stockhead). But a settlement of disagreements has cleared the way for the small gold explorer to pick up where Stockhead left it four months ago; potentially sitting on something big.

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The World Gold Council expects gold to record further price gains this year as globally low interest rates and heightened geopolitical uncertainty portend higher investment demand, according to director of investment research Juan Carlos Artigas (reports MiningNews). The positive outlook comes on the back of gold putting in its best performance since 2010, rising by 18.4% in US-dollar terms last year to end the year at $1519.50/oz. It outperformed major global bond and emerging market stock benchmarks over that period.

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26th - 27th May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held on the 26th & 27th May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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