News - Market Insights

Sunstone Metals’ second hole at its Limon prospect in Ecuador was a “winner” and showed “all the signs of a typical porphyry system,” says Patersons analyst Xavier Braud. Sunstone announced this week that the second hole at Limon, which sits in the company’s Bramaderos Project, intersected a “very encouraging interval of porphyry-related mineralisation with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide)”.

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Headline performance of miners since 2016 has been sterling. The ASX100 Resources and Small Resources have both posted strong gains, with capital returns of 2x from both Indices in 3.5 years (reports Lion Selection Group’s Hedley Widdup on Livewire).

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Veteran resource analyst and former fund manager Dr Chris Baker from Bridge Street Capital Partners in Sydney has upped his interim valuation of emerging lithium miner Liontown Resources (ASX: LTR) from 11c to 20c a share on the back of the latest outstanding drilling results from its Kathleen Valley deposit in WA. Baker says the latest drilling, including a spectacular recent intercept of 90m at 1.3% Li2O, underpins the potential for a resource of greater than 60 million tonnes at 1.4% Li2O and a possible mine life of 25 years.

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Kidman Resources shareholders will vote on Wesfarmers’ $776 million takeover offer in August after the lithium miner entered into a scheme implementation deed with the WA-based conglomerate (reports The Australian). Kidman said its board had concluded that the bid was in the best interest of shareholders and recommended they vote in favour of the scheme. Under the agreement, it is proposed that Wesfarmers will acquire 100 per cent of the shares in Kidman at $1.90 per share - a 47.3 per cent premium on the last closing price for Kidman shares on May 1.

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The gold industry has endured a rollercoaster ride in the 21st century to date, with the gold price rising from $US255 an ounce in 2001 to $US1900 in 2011, before falling to $US1050 by the end of 2015 (reports The Australian). The soaring price in the noughties prompted global gold miners into aggressive debt-funded M&A programs, notes global consultancy group McKinsey & Company. But the near halving of the price from 2011 forced now debt-heavy miners to take hefty impairments and initiate dramatic cost-saving programs.

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BHP Group has gone from being prepared to get rid of its nickel portfolio to looking for more, says chief financial officer Peter Beaven

BHP Group has gone from being prepared to get rid of its nickel portfolio to looking for more, says chief financial officer Peter Beaven, with thermal coal now topping the mining giant’s unwanted commodity list (reports The Australian Financial Review). Mr Beaven, in a presentation to investors and analysts on BHP’s long-term strategy, flagged a shift in BHP’s thinking to produce commodities demanded by a world reliant on renewable energy in the long term, not fossil fuels.

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BHP has raised its forecast for the adoption of electric vehicles worldwide (reports The Australian Financial Review).

BHP has raised its forecast for the adoption of electric vehicles worldwide (reports The Australian Financial Review).

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Warren Buffett reckons it pays to be fearful when others are greedy and to be greedy only when others are fearful (reports Barry FitzGerald on Stockhead).

Warren Buffett reckons it pays to be fearful when others are greedy and to be greedy only when others are fearful (reports Barry FitzGerald on Stockhead). It is the second part of the Oracle of Omaha’s maxim that could well be applied to newbie gold producer Dacian Gold (ASX: DCN). Its share price has been beaten up badly in the last three months, diving from $2.83 on February 27 to $1.68 on Wednesday.

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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