News - Market Insights

Analysts at Morgan Stanley have named Whitehaven Coal, Sandfire Resources and Mineral Resources as their top three mining picks

Analysts at Morgan Stanley have named Whitehaven Coal, Sandfire Resources and Mineral Resources as their top three mining picks (reports The Australian Financial Review). "Whitehaven coal is generating strong free cash flow on both our base case and spot commodity price scenarios," the broker wrote. It has an overweight rating on the coal miner and reckons it has some 43 per cent upside based on a $3.65 valuation.

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Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria

Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria, a prospect it believes has hallmarks of being world-class (reports MiningNews). Hartleys believes early stage copper mining inventory of plus-12-15 million tonnes at a "good grade" of 2.5-3% copper equivalent is possible, "however the true ‘size of the prize' may take some time to crystallise".

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Lithium miners have extended recent share price gains on news the Chinese government will slow its planned cuts to subsidies for the electric vehicle industry ...

Lithium miners have extended recent share price gains on news the Chinese government will slow its planned cuts to subsidies for the electric vehicle industry (reports The West Australian). A Chinese official told Bloomberg that handouts to stimulate new energy vehicle sales would not be cut on July 1 this year as they had been last year.

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A boardroom bust-up put Anglo Australian Resources (ASX:AAR) in the headlines before Christmas for the wrong reason (reports Tim Treadgold on Stockhead). But a settlement of disagreements has cleared the way for the small gold explorer to pick up where Stockhead left it four months ago; potentially sitting on something big.

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The World Gold Council expects gold to record further price gains this year as globally low interest rates and heightened geopolitical uncertainty portend higher investment demand, according to director of investment research Juan Carlos Artigas (reports MiningNews). The positive outlook comes on the back of gold putting in its best performance since 2010, rising by 18.4% in US-dollar terms last year to end the year at $1519.50/oz. It outperformed major global bond and emerging market stock benchmarks over that period.

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The gold price is slightly off its strong start to 2020 but it's yet to retreat below $US1500 an ounce. Despite a short-term easing in global uncertainty, gold investors appear to be more pessimistic about the longer term (reports The Australian Financial Review).

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Once considered investment-friendly, the east-African nation of Tanzania stunned ASX resource plays in July 2017 with sweeping changes to its Mining Act (reports Stockhead). As part of these changes, minnow Indiana Resources (ASX:IDA) had the retention licence for its advanced Ntaka Hill nickel sulphide project – a ‘holding title’ that gives a company more time to develop the resource and secure financing – unilaterally revoked.

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Two weeks before Ivan Glasenberg was to shock investors by hinting at his early departure from Glencore, the world’s most powerful commodity trader, last November, he was in Australia (reports London’s Daily Telegraph). On that trip, Glasenberg met Jean-Sébastien Jacques, the chief executive of mining giant Rio Tinto, and Scott Morrison, the Australian prime minister in Sydney.

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26th - 27th May 2020

Gold Coast Conference

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