News - Market Insights

Diamond miner Lucapa has pocketed a tidy $U16.7m ($23m) for seven of its Lulo diamonds, which it is now allowed to sell by international tender (reports Stockhead). Under Angola’s new diamond marketing policy, Lucapa (ASX:LOM) was able to offer the seven diamonds weighing 498 carats for sale via electronic tender. The total price fetched equates to a hefty average of $US33,530 per carat. Shares jumped nearly 17 per cent to an intra-day peak of 21c on the back of the news.

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Sunstone Metals is offering investors potentially huge upside via its copper-gold porphyry exploration in Ecuador, says broker Patersons in a new research report. Titled “On an elephant hunt in Ecuador”, the report focuses on Sunstone’s Bramaderos project, where drilling is poised to start. “If you are after a potentially large copper-gold porphyry story, Sunstone might be your point of call,” Patersons analyst Xavier Braud says. He notes that Sunstone is led by MD Malcolm Norris, who has teamed up with Dr Bruce Rohrlach as general manager of Geology.

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Explorer Genesis Minerals reckons there’s potential to define a very large shallow gold system at its second-string Barimaia project in the Murchison District of Western Australia (reports Stockhead). Although Genesis’ (ASX:GMD) main focus is the more advanced 760,000oz Ulysses project in the Eastern Goldfields, Barimaia has “strong open pit potential”, managing director Michael Fowler said. Barimaia is just 10km from 6 million ounce Mt Magnet mine operated by Ramelius Resources (ASX:RMS).

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Graphite is one of the lesser talked about battery minerals, with the light often shining on copper, nickel, lithium and cobalt instead but 2019 could be the year when there is a refocus on graphite, according to Benchmark Mineral Intelligence’s Andy Leyland (reports MiningNews). He spoke to the Energy Minerals Investor Hub about a potential graphite prices, increasing supply and demand and the likelihood of battery makers locking in offtake contracts going forward in the face of a potential shortage.

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Barrick Gold CEO Mark Bristow believes there needs to be more consolidation in the gold sector (reports MiningNews). Bristow has long been critical of the gold sector. "I've spent my whole career trying to prove you can make returns in mining and gold," he told reporters on the sidelines of Mining Indaba in Cape Town. "The majority of the industry is still struggling to deliver value to long-suffering shareholders. "Instead of creating value, the industry has destroyed value."

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Gold miner Millennium Minerals has been on the hunt for gold at its Nullagine site in WA’s Pilbara region

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An old copper and zinc mine in the remote Northern Cape Province of South Africa is emerging as a litmus test for an industry and government effort to revive the country's once-great mining industry

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Orion Minerals’ sales pitch to investors at Indaba also coincided with a big charm offensive by the South African Government this week to attract global investors back into its mining sector.

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