News

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after.

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after. A sharp rise in the oil price earlier this week to more than $US74 a barrel was largely a function of international events, including a fresh threat from Iran to blockade the narrow Strait of Homuz at the western end of the Persian Gulf in retaliation against US sanctions.

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Gold down, iron ore up - perhaps with a lot further to go. In a nutshell, they were the highlights of an Easter holidays-shortened week on the Australian stock market.

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On April 12, 2019, Chevron announced to the world its acquisition of Houston based oil and gas firm, Anadarko Petroleum for a staggering US$33 Billion (writes Fabio Scala from Edgebold Capital in London).

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Australian mining companies are reluctant to invest in new capacity for fear of repeating historic mistakes, according to Deloitte Access Economics, casting doubts over a major source of business investment in 2019 (reports The Australian Financial Review). “Although profits are booming within mining, miners have been burnt before by adding too much capacity in good times, and they remain cautious about spending too much,” Deloitte partner and economist Chris Richardson said.

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Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers

Production cuts have revitalised Australian iron ore stocks, delivering bumper profits and attracting new players, including London’s super-rich property magnates, the Reuben Brothers. But how long the good times can last is a critical question for investors. Few analysts are prepared to stand in the way of the surging iron ore price, which this week hit a five-year high of $US95 a tonne, driving share prices up sharply, with most hitting fresh highs.

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The surging iron ore price has sparked renewed investor interest in long-dormant iron ore assets

The surging iron ore price has sparked renewed investor interest in long-dormant iron ore assets, with juniors such as Centaurus Metals (ASX: CTM) well placed to benefit given its ownership of an advanced iron ore development project in Brazil capable of moving into production quickly. This is the key conclusion of veteran Sydney-based resource analyst Gavin Wendt.

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A capital-raising rush over the past week by small mining companies is a clear signal that the downturn of the past few years is coming to an end.

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After a long period of over-supply, a global diamond shortage may be on the way

After a long period of over-supply, a global diamond shortage may be on the way, says analyst Kieron Hodgson of London-based broker Panmure Gordon (reports Stockhead). This top-rated analyst believes global diamond production will moderate this year before declining through until 2021. “We see the potential for the market to briefly encounter a shortfall scenario, possibly as high as 25 million carats, equal to 16 per cent of the current global production base,” Hodgson says.

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference will be held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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