News

Plus, success for Stavely and Alkane spark renewed interest in Eastern States exploration, talk suggests European Cobalt may be heading for Aussie gold and Meteoric poised to deliver eagerly-awaited assays on its Brazilian gold play.

A diamond being the ultimate item of discretsionary expenditure, there should be no surprise that diamond prices have been down in the dumps. Fears of global economic recession overlain with the threat of trade wars is not exactly conducive to buoyant demand and pricing for the sparklers. It is why the few listed diamond producers that exist around the world have being doing it tough on the share price front.

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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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Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead).

Stavely Minerals has announced more thick, high grade copper hits to follow on from that “stunning” discovery at its namesake project in Victoria (reports Stockhead). The new hole is 160m south of the discovery hole targeting the Thursday’s Gossan prospect. It returned assays of 8m at 9.69 per cent copper, 0.4 grams per tonne gold and 16.8g/t silver from 177m down-hole along with a shallower but thicker intercept of 59m at 1.8 per cent copper, 0.43g/t gold and 15.4g/t silver from 98m.

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First drilling of the Mars prospect at PolarX’s Alaska Range project has hit porphyry-style veins containing visible copper, with the junior saying it was looking forward to further results from the “very exciting” target (reports MiningNews). PolarX is excited because of the potential significance of any discovery given "the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the geophysical anomalies at Mars". Assays are also awaited for potential gold content.

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Plus, Red 5 poised for promotion to the next league of ASX gold producers. And Macquarie sees short-term bullish catalysts for commodities.

Stavely Minerals (ASX:SVY) has added a stunning second leg to its big-time copper hunt in the shadows of the Grampian Ranges in western Victoria, with the first hole in a new shallow-focussed drilling program assaying up to 40% copper. The spectacular hit was made at the Thursday’s Gossan prospect, with the diamond drill hole specifically targeting shallow and structurally controlled mineralisation within the Ultramafic Contact Fault (UCF).

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Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday

Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday, and the negative influence of international political shenanigans, to leave financial markets in an eerie truce. Stavely’s exceptional copper assays from its Thursday’s Gossan project in Victoria (the subject of Barry Fitzgerald’s column, above) lit up the market, along with Mincor’s high-grade nickel hit at the Cassini project in WA and Azure Minerals’ exceptional zinc recoveries at its Oposura mine in Mexico.

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Spotlight turns to Alkane’s highly leveraged neighbours DevEx and Alice Queen

Alkane’s (ASX:ALK) big porphyry gold-copper hit at its Boda prospect in NSW’s central west continues to be the talk of mining investor circles. The 502m intersection grading 0.48g/t gold and 0.2% copper has seen Alkane’s share price climb almost 80% to 67.5c since it was announced on September 9. Alkane said the drilling results provided “clear evidence of Cadia-style mineralisation and grade over hundreds of metres”,

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Oil, gold and copper have emerged from the fog of the China v US trade war as clear leaders in a “beauty parade” of commodities most likely to succeed over the next 12-months, and perhaps longer.

Oil, gold and copper have emerged from the fog of the China v US trade war as clear leaders in a “beauty parade” of commodities most likely to succeed over the next 12-months, and perhaps longer. The case for gold, which is well understood by most investors, was strengthened by the same issue which pushed oil higher this week; global economic and political uncertainty, with a whiff of cordite in the air as the Middle East stumbled into a fresh crisis.

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