News - Market Insights

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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Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian).

Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian). The deal will see DSKH take all of the titanium dioxide pigment produced by its Mt Peake vanadium and titanium project in the Northern Territory. TNG shares jumped 45 per cent to 4.5¢ before dipping to be 3¢ up at 13¢ as at 12.30pm. The company and DKSH have been negotiating a binding deal since disclosing in October that they were in talks.

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Investors have been re-enthused by Pure Alumina’s effective claim all is going well with its planned A$27 million Polar Sapphire acquisition in Canada

Investors have been re-enthused by Pure Alumina’s effective claim all is going well with its planned A$27 million Polar Sapphire acquisition in Canada, with the Tolga Kumova-backed microcap enjoying a couple of strong headline trading sessions (reports MiningNews). Pure Alumina shares more than doubled after it reported the Polar pilot plant in Toronto had been operating well for the past two weeks producing high purity alumina from use of proprietary technology.

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Following a string of positive news in its March quarterly and the recent positive election results in South Africa with the re-election of the ANC, base metals developer Orion Minerals (ASX: ORN) is set for a “number of positive” catalysts at its flagship Prieska zinc-copper project in South Africa – according to Sydney-based institution broker Petra Capital.

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A lot of metal was locked away forever when the Hawke Labor government banned mining at the Coronation Hill deposit on aboriginal and environmental grounds by including it inside Kakadu national park (reports Barry FitzGerald on Stockhead). The 1991 ban locked away 1.4 million oz of gold, 300,000 oz of platinum group metals, and some 340,000 tonnes of uranium.

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Australia's biggest export earners, iron ore and coking coal, should be fetching stronger than expected prices in coming years according to Credit Suisse (reports The Australian Financial Review). Disruptions in the supply of both commodities have triggered a price surge in 2019, and Credit Suisse responded this week by announcing large upgrades to its price forecasts.

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At various times in the market there will be particular sectors that go for a run

At various times in the market there will be particular sectors that go for a run – lithium, for example (reports Stockhead). But right now, according to Wendt, it is more about individual stocks than one sector being the hot favourite. “18 months ago it didn’t matter what stock you looked at in the lithium space, everything was moving and everything was moving rapidly and you sort of get that with the first wave I think of any new hot fashionable sector,” he told Stockhead.

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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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