News - Market Insights

It’s been a crazy run for advanced hard rock explorer Liontown Resources (ASX:LTR), a stock which has consistently flipped the bird at weak lithium market sentiment to be up 400 per cent over the past 12 months

It’s been a crazy run for advanced hard rock explorer Liontown Resources (ASX:LTR), a stock which has consistently flipped the bird at weak lithium market sentiment to be up 400 per cent over the past 12 months (reports Stockhead). Liontown’s flagship Kathleen Valley project in WA boasts a current resource estimate of 74.9 million tonnes, which already makes it the 5th biggest deposit in Australia.

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Fenix Resources could be producing iron ore within months from its Iron Ridge project, near Cue in Western Australia (reports MiningNews).

Fenix Resources could be producing iron ore within months from its Iron Ridge project, near Cue in Western Australia (reports MiningNews). A feasibility study outlined capital costs of just A$11.9 million for a 6.5-year operation producing 1.25 million tonnes of iron ore per annum at C1 costs of $76.86 per tonne. Just 56% of the capital costs are payable on a pre-production basis, with the remainder to be payable after the first shipment. The project returned an estimated pre-tax internal rate of return of 58.9% and a net present value of $54.3 million.

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WA explorer Syndicated Metals says a newly acquired, early stage project resembles the +6 million-ounce Tropicana deposit. Here’s hoping (reports Stockhead). Today, Syndicated (ASX:SMD) scored itself a second major landholding in the Laverton gold district of WA, buying an 80 per cent interest in the Edjudina project from Gateway Mining (ASX:GML). For Gateway, which is focused on its +240,000oz Gidgee project, Edjudina is a non-core asset.

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8th November 2019

Hopes for Kwinana to host a battery minerals processing hub have taken a step forward after Kibaran Resources said test work had bolstered its plans for a graphite processing facility on the industrial strip south of Perth (reports The West Australian). Kibaran said work by consultant GR Engineering had supported the credentials of the company’s patented EcoGraf technology to produce a clean spherical graphite product for the anodes of lithium-ion batteries.

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Silver Lake Resources has been forced to lift its stalled takeover offer for developer EganStreet Resources after EganStreet received a higher offer (reports MiningNews). EganStreet confirmed late Friday it had received an indicative, non-binding A40c per share cash takeover proposal from unlisted Adaman Resources. Adaman, which owns the Kirkalocka gold mine near EganStreet's Rothsay project, needed to secure a $60 million funding facility from Remagen Capital Management to fund the buy.

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Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation

Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation following its recent September quarterly report. And Morgans Stockbroking has maintained a 50c price target and ADD rating for the stock, with the brokerage picking a number of positives out of Red 5’s September quarterly results.

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On the cusp of releasing results from a scoping study at the Vareš prospect in Bosnia & Herzegovina, Adriatic Metals has raised A$25 million from institutions and said it will list on the London Stock Exchange (reports MiningNews). Adriatic said the funds will allow it to complete a bankable feasibility study. The funds are being raised by issuing new shares priced at $1 each. Prior to this new fundraising Adriatic was estimated to have in the order of $5-6 million cash.

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In November, explorer Hill End Gold changed its name to reflect its focus on the burgeoning high purity alumina (HPA) sector (reports Stockhead). HPA is used in lithium-ion battery components, LED lights, smart phone screens, and surgical tools. And demand is on the way up. Hill End was now Pure Alumina (ASX:PUA) – the name of the company Hill End bought in July 2017. This deal included its now-flagship Yendon HPA project.

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