News

And the falling stockpiles are more good news for Mincor and its growing Cassini discovery

Copper is the favoured metal of the big end of town miners like BHP and Rio Tinto when it comes to allocating exploration dollars. Revved up in part by the electric vehicle revolution and the electrification of Asia, demand for the red metal will certainly move in the right direction in the years to come. But does that mean that the price will also head higher from what veteran minerals economist Richard Schodde at MinEx Consulting calls the “wisdom of the crowd” on long-term prices, or the consensus of economic forecasts put another way?

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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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Northern Star Resources boss Bill Beament has urged investors to be patient with the miner’s $US260 million Alaskan gold operation

Northern Star Resources boss Bill Beament has urged investors to be patient with the miner’s $US260 million Alaskan gold operation, saying Northern Star’s turnaround of the newly acquired mine was nearly complete (reports The Australian). Northern Star bought the Pogo mine last year from Japan’s Sumitomo, promising a repeat performance of the company’s track record of reviving the performance of the suite of Australian operations bought from the majors in a deal making spree earlier this decade.

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Plus, Strandline hints at sale of a stake in large WA mineral sands project and South Africa Inc lines up to back Orion’s base metals project   

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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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Saracen Mineral Holdings says its target of becoming a 400,000 ounce per annum gold producer is on track after the miner posted record quarterly gold production in the three months to the end of March (reports The West Australian).

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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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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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Upcoming Events

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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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