News - Market Insights

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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The gold price is slightly off its strong start to 2020 but it's yet to retreat below $US1500 an ounce. Despite a short-term easing in global uncertainty, gold investors appear to be more pessimistic about the longer term (reports The Australian Financial Review).

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Once considered investment-friendly, the east-African nation of Tanzania stunned ASX resource plays in July 2017 with sweeping changes to its Mining Act (reports Stockhead). As part of these changes, minnow Indiana Resources (ASX:IDA) had the retention licence for its advanced Ntaka Hill nickel sulphide project – a ‘holding title’ that gives a company more time to develop the resource and secure financing – unilaterally revoked.

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Two weeks before Ivan Glasenberg was to shock investors by hinting at his early departure from Glencore, the world’s most powerful commodity trader, last November, he was in Australia (reports London’s Daily Telegraph). On that trip, Glasenberg met Jean-Sébastien Jacques, the chief executive of mining giant Rio Tinto, and Scott Morrison, the Australian prime minister in Sydney.

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Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews).

Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews). The company has A$30 million in working capital and investments due to savvy project sales, and has not raised capital since 2011. Chalice's flagship project is the Pyramid Hill project in Victoria, comprising 5190sq.km in the Bendigo region, where 60 million ounces of high-grade gold has been discovered.

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Experienced resource analysts James Wilson and Matt Keane from Perth-based broking firm Argonaut Securities attended a recent site visit to Red 5’s (ASX: RED) King of the Hills Project (KOTH).

Experienced resource analysts James Wilson and Matt Keane from Perth-based broking firm Argonaut Securities attended a recent site visit to Red 5’s (ASX: RED) King of the Hills Project (KOTH). And they were impressed by what they saw. In a new note, they say the scale of King of the Hills is “bigger than the market perception”, with the project offering numerous “add-ons” to consider over and above the current Feasibility Study (due in mid-2020).

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13th December 2019

Genesis Minerals has signed a farm-in agreement with Kin Mining over the Desdemona South Area, south of Leonora (reports MiningNews). The project sits between Genesis' 760,000 ounce Ulysses deposit and St Barbara's Gwalia mill. The ground includes more than 10km of prospective strike, including the northern extension of the structural corridor that hosts Ulysses. Genesis can earn 60% of the ground by spending A$1 million on exploration within four years. If Kin chooses not to contribute, Genesis could reach 80% by spending a total of $2.6 million.

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