News - Market Insights

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead).

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead). In August 2018, developer Mincor Resources (ASX:MCR) unveiled a maiden resource at Cassini, the first nickel deposit to be discovered in the Kambalda district for many years. The resource has been updated three times since then. In November, it was increased to 1.254 million tonnes at 4 per cent nickel for 50,400 tonnes.

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The Reserve Bank considered a surprise rate cut at its Melbourne Cup day policy meeting, but ultimately decided to wait and see how its three cuts since June would work their way through the economy, the bank’s board minutes reveal (reports The Australian).

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US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review).

US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review). Many participants saw downside risks to the economic outlook as elevated, "further underscoring the case for a rate cut at this meeting,'' according to minutes of the October 29-30 Federal Open Market Committee session released Wednesday (Thursday AEDT) in Washington.

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Saracen Mineral Holdings believes exploration around Western Australia's Superpit mine will unlock ''decades'' more gold and vindicate its decision to spend $1.1 billion buying a 50 per cent stake in the asset at near record gold prices

Saracen Mineral Holdings believes exploration around Western Australia's Superpit mine will unlock ''decades'' more gold and vindicate its decision to spend $1.1 billion buying a 50 per cent stake in the asset at near record gold prices (reports The Australian Financial Review). The "transformational" deal would make Saracen one of the four biggest gold producers on the ASX and put it in the box seat to eventually own all of the Superpit should US giant Newmont ever follow Canadian rival Barrick's example by exiting the famous Kalgoorlie operation.

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15th November 2019

Red 5 is still looking at ways of securing the future of its Darlot operations in Western Australia

Red 5 is still looking at ways of securing the future of its Darlot operations in Western Australia, and after its takeover of Bullseye Mining was rebuffed, it is again expanding in the Leonora region by signing a A$2.5 million option agreement for minnow Terrain Minerals’ Great Western project (reports MiningNews).

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Strategic metals developer TNG Limited (ASX: TNG) is expected to make a final investment decision for its $824 million Mount Peake vanadium-titanium-iron project in the NT by mid-2020, according to a new research note by Sydney-based equities research outfit Independent Investment Research. IIR has provided an “indicative base case technical valuation” for the company of more than $1 billion, or 36.9c per share, well above its current share price of 9.5c.

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Gold explorer Kingston Resources (ASX:KSN) will move to full ownership of the 2.8Moz and growing Misima gold project in PNG (reports Stockhead). Minority JV partner, copper-focused Japanese firm PPC, concluded that the mothballed operation “is outside our company focus”. Which is great news for Kingston, which acquired a majority interest in Misima through a successful merger/takeover of TSX-listed WCB Resources in 2017. The Kingston share price – which is down about 35 per cent over the past year – received a 3 per cent bump to 1.7c on the news.

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Historical evidence suggests gold mining equities are about to take off, fund manager Ronald-Peter Stoferle told delegates at the Zurich Precious Metals Summit (reports MiningNews). Stoferle, a fund manager at Liechtenstein-based Incrementum AG and author of an annual report entitled ‘In gold we trust', said the pattern of mining equity performance in every bull market since 1942 suggested a steep rise - or "euphoria" as he put it - typically seen at the end of an uptrend, was still to come.

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