News - Fitzgerald Articles

Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.

Copper producers are rightly feeling a bit glum, most of them anyway. Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb. That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb. As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.

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The Big Australian’s success is also good news for nearby tiddler Investigator Resources. Plus, NSW copper producer Aeris Resources hits back at market doubters with some exceptional drilling results.

If a junior exploration company had said it, it would have been dismissed as a bit of hype. But in the case in question, it was BHP boss Andrew Mackenzie, a scientist of note, as him being a fellow of London’s Royal Society (think Darwin and Einstein) tells you. Speaking after the release of BHP’s 2019 profit this week, Mackenzie got a little excited when talking about the group’s Oak Dam discovery in South Australia’s Gawler Craton.

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More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm

More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm. His forecast is great news for those juniors with large nickel deposits awaiting development, such as the Jaguar project just acquired by Centaurus from Brazilian giant Vale. Plus, Venturex’s $100m debt deal sets it up to become one of the few ASX-listed copper producers. The display of oomph at last week’s Diggers & Dealers conference in Kalgoorlie was not restricted to the gold stocks.

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Plus, run-away gold price should fuel the urge to merge in junior land

After some PC issues were sorted out, Kalgoorlie’s Palace pub got back to its bustling self in the final days of the Diggers & Dealers bash. And as yesterday became today for the eclectic mix of well-watered miners and money-types, the rumour mill went in to over drive. Sorting out the factual from the nonsense, and then trying to remember which was which as the sun dawned  on another day under Kalgoorlie’s big blue sky, required some effort.

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Plus, $4m Tanga Resources dangles visible copper with assays pending

Plus, $4m Tanga Resources dangles visible copper with assays pending The Misima gold mine on its namesake island in PNG was one of the world’s great gold mines in its day. Between 1989 and 2004, its average annual production was 230,000oz at an average life of mine cost of $US218 an oz. The closure decision by the previous owner, Canada’s since-taken over Placer Dome, was made at a time of sub-$US300 an oz gold prices, would you believe.

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The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs

The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs while nearby juniors Sipa and Antipa are planning holes of their own. Plus, Sandfire-backed White Rock offers investors two projects for the price of one. Exploration in Western Australia’s remote Paterson province is heating up as was expected following Rio Tinto’s belated confirmation in February that its Winu copper-gold discovery was indeed something special.

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Plus, Liontown morphing into lithium city as new research report says the hot stock is just warming up

It is wrong to think that it has been a case of total gloom and doom for lithium equities since January. The sector is down by 50%-plus on fears of over-supply well in to the 2020s and operational shortcomings at the newer operations. It has not mattered that one by one, the world’s biggest auto groups have been pinning their futures to the electric vehicle revolution. In a global market in which two million EV units were sold last year, VW reckons it will do five million units itself in 2025. Same with Toyota, and others have been chiming in.

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And speaking of leverage, PolarX is about to drill some deep holes into a highly-rated porphyry target courtesy of North American major Lundin

Newbie gold producer Dacian (DCN) served up some shock back in early June when it told the market that it should forget about its Mt Morgans operation being a 200,000 oz a year producer for 10 years at a cost of $A1,000 an oz. Its June 5 stock price crashed from $1.58 to 51c, catching everyone in the market – and this space – on the hop. To the credit of executive chairman and CEO Rohan Williams, Dacian has wasted no time getting back to the market with a five and an eight-year mine plan and a stated intention of not raising equity funds to see it through.

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