The value of low-grade but bulk-tonnage porphyry copper/gold deposits has come into sharp focus for the local market as a result of Newcrest’s (ASX:NCM) $1.14 billion acquisition of a 70% interest in the Red Chris mine in British Columbia.
After falling sharply over the past six months, there is fresh hope that lithium prices could be set for a comeback as demand from the EV market surges.
The Western Australian hard-rock lithium brigade got beaten up something shocking last year as contracted prices for 6% spodumene weakened from more than $US1,000t in the September quarter to $USUS930/t in the December quarter.
Prices - based on quarterly pricing for the Mt Marion project kindly posted by Mineral Resources (MIN) – have fallen further for the current March quarter to $US791/t, which when stacked up against forecast production costs and a friendly US70c exchange rate, is still not all that bad.
Plus, Chalice set for first results from drilling near rich Fosterville gold mine
It’s been worth the wait to finally hear from Rio Tinto (ASX:RIO) as to what it is on to at its Winu (named after an old soak from an aboriginal word meaning thirsty) copper-gold-silver discovery in Western Australia’s Paterson province.
Plus, Dateline highly-leveraged to impending drilling program at high-grade Colorado gold project
There was good news for the junior mineral sands players in the annual profit report from the mineral sands king of the ASX, Iluka.
The report confirmed Iluka had enjoyed a 41% increase to $US1,351/t in its weighted average zircon price for 2018 while rutile pricing was 21% higher at $US952/t.
Prices are currently higher than last year’s averages, with Iluka lifting its zircon reference price to $US1,580/t from October 1 last year for six months. Iluka said its customers had swallowed it with “positive” feedback, if that were possible.
Plus, strong iron ore price recovery boosts the outlook for Centaurus’ Brazilian iron ore project and Gateway looks to repeat the lucrative strategy of revitalising old WA gold mines
It was suggested here last week that what Breaker Resources’ executive chairman Tom “Colonel” Sanders had to say at this week’s Resources Rising Stars’ conferences in Sydney and Melbourne could be pivotal.
The argument was that having established a 1.1m oz resource at its February 2016 virgin Bombora discovery, 100km east of Kalgoorlie, the pressure was on Sanders to convince the market it was undervaluing the stock in a major way.