News

The imminent drilling program to expand existing Walford Creek resource will be keenly watched by growth-hungry mid-tiers. Plus, David Flanagan’s Battery Minerals secures its mining licence, putting it on track for graphite production later this year.

OZ Mineral’s premium-busting $442 million agreed takeover bid for ASX-listed Brazilian copper and gold producer/developer Avanco has got the pundits wondering if OZ’s move signals more acquisitions of the juniors by the mid-tiers to secure growth opportunities are on the way. That OZ was happy to pay a 116% premium to snare Avanco with its suite of Brazilian production and developments assets was as sure a sign as there is that growth is back on the agenda for the cashed-up mid-tiers.

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Tim Kestell’s Hylea Metals will begin drilling next month at its eponymous cobalt project in NSW (reports The West Australian).

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Equity research firm Independent Investment Research (IIR) has cranked up its valuation of Australian strategic metals developer TNG Ltd (ASX: TNG) to 51c

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Shares in Liontown Resources rose after the company reported another strong round of assay results from its emerging lithium discovery at the Buldania project in Western Australia (reports MiningNews).

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Some of the world’s biggest mining companies are set to open negotiations with the Democratic Republic of Congo over a new mining code that could impose tough new conditions and higher royalties on the metals they produce (reports London’s Daily Telegraph).

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The US and South Korea agreed to amend their free-trade deal to address American concerns about a growing deficit and resolve friction over tariffs on South Korean steel, Seoul’s trade ministry said in a statement (reports the Wall Street Journal). The changes to the deal, which have been blamed by President Donald Trump for expanding the U.S. trade deficit, focus on rebalancing trade in the auto sector—a major source of South Korea’s trade surplus with the U.S., the ministry statement said.

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Investors have soured on silver to start 2018, after prices rose over the last two years—a possible warning signal to the broader market (reports The Wall Street Journal). Silver futures have fallen 3.1% this year, trailing a 3.3% gain in gold. That’s after bullion rose 14% last year, double silver’s 7% advance. The divergence between the two means prices for gold are 82 times those of silver, which is 27% more than the 10-year average and the highest level in two years, data analyzed by WSJ Market Data Group show.

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Takeover time in the mining sector gathered pace in the shortened pre-Easter week when OZ Minerals launched a bid for copper explorer Avanco -- prompting a sell-off in OZ shares and serving as a warning for investors to watch out for over-eager managers.

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29th - 30th May 2018

Gold Coast Conference

The 2018 Resources Rising Stars Gold Coast Conference will be held on Tuesday 29 May and Wednesday 30 May 2018 at the scenic RACV Royal Pines Resort on the Gold Coast.

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