News

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens.

Gold first. Daylight second. Those four words perfectly sum up the state-of-play on the Australian stock market as more investors join the flight to safety while the international geopolitical and trade backdrop worsens. A measure of the gap between strongly performing gold (and goldminers) could be gleaned from a unique mid-week piece of research by Macquarie Bank which looked at the damage done by the China v US trade war and past crises.

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TNG boss Paul Burton remains resolutely confident the company’s ambitious Mt Peake project in the Northern Territory is achievable despite its big budget, complexity and multiple moving parts (reports The West Australian).

TNG boss Paul Burton remains resolutely confident the company’s ambitious Mt Peake project in the Northern Territory is achievable despite its big budget, complexity and multiple moving parts (reports The West Australian). The company wants to establish a mine at Mt Peake 230km north of Alice Springs that will produce a magnetite concentrate. The material will then be railed 1100km north to Darwin, processed into three product streams including titanium dioxide pigment, vanadium pentoxide and a high-grade iron oxide and shipped to customers overseas.

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Fresh from a $2.2m capital raising and a 1-for-60 share consolidation, Marindi Metals (ASX:MZN) is ready to hit the ground running with a maiden drill program about to begin at its flagship Forrestania gold project in WA (reports Stockhead). Led by former Northern Star Resources (ASX:NST) chief geologist Simon Lawson, Marindi has been quietly working up a series of targets at the Kit Kat gold prospect, located within its extensive 700sqkm tenement package in the Forrestania belt.

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Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2.

Spare a thought for Wesfarmers’ boss Robb Scott. To the surprise of no one, shareholders in Scott’s $776 million lithium takeover target, Kidman Resources, voted overwhelming yesterday to accept the $1.90-a-share bid Scott lobbed back on May 2. It really was a case of “as well they might”.  The ASX lithium sector has been beaten up badly since the bid was announced.

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Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review).

Chinese lithium-ion battery manufacturer Contemporary Amperex Technology (CATL) will emerge as one of the biggest shareholders in Pilbara Minerals under a plan to raise up to $111.5 million (reports The Australian Financial Review). CATL will pay $55 million for 8.5 per cent of Pilbara, under a placement that effectively values the Western Australian lithium exporter at $646 million. CATL makes electric vehicle batteries for car manufacturers like BMW, and is currently building a factory in Germany to supply BMW and other customers.

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The WA Government has thrown its support behind Kibaran Resources’ Kwinana graphite plant, providing a boost to the company as it seeks to finalise funding for what may become a $100 million-plus project in the State’s emerging Lithium Valley (reports The West Australian).

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6th September 2019

Tiddler Valor Resources is turning its gaze towards the Western Australian Goldfields with an agreement to acquire an interest in the high-grade Radio mine near Southern Cross in Western Australia (reports MiningNews). Valor's Berenguela copper-silver-manganese project in southeast Peru was recently joint ventured out to Rio Tinto's Kennecott Exploration Company, and with that project in hand it is looking to establish a gold revenue stream by early 2020.

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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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