News - Market Insights

There aren’t many explorers capable of raising $18m right now, but Liontown (ASX:LTR) is having a hell of a year

There aren’t many explorers capable of raising $18m right now, but Liontown (ASX:LTR) is having a hell of a year (reports Stockhead). As lithium prices circle the drain, the WA small cap darling has consistently defied market sentiment. The stock is still up 331 per cent since the start of 2019. This is an aggressive timeline, with the immediate focus on completing a pre-feasibility study (PFS) by the end of 2019.

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Venturex listed on the ASX just before the markets went completely pear-shaped in 2009-2010 (reports Stockhead). Junior explorers were hit particularly hard, and Venturex (ASX:VXR) was forced to rationalise its portfolio and preserve cash as the value of equities plummeted and capital vanished from the markets. So it’s fitting that the company is currently developing a copper-zinc project, called Sulphur Springs, which is designed to be robust at any stage of the price cycle.

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Western buyers may turn to China for additional zinc supplies after Teck Resources, one of the world's largest producers of the base metal, was forced to cut production from one of its refineries (reports The Australian Financial Review). The forecast cut of between 20,000 tonnes and 30,000 tonnes from the Canadian company's Trail refinery comes at a time when the International Lead and Zinc Study Group has identified a 134,000-tonne deficit in the global refined zinc balance.

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Shares in cash-strapped microcap Syndicated Metals hit a 12-month high after drilling of its new Newington gold project was said to have confirmed the high-grade gold prospectivity (reports MiningNews). Syndicate's drilling at Newington, north of Southern Cross in Western Australia, returned a best hit of 2m at 17.5 grams per tonne from 76m. Newington features multiple old workings including Newfield Central where historical mining produced 32,366 ounces from dirt grading 24.5gpt.

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Finding an entry point into a hot gold sector is not easy with most major producers trading well ahead of the gold price. But there could be value for speculators among smaller project developers that have been jolted awake by an infusion of cash (reports Tim Treadgold in The Australian). Unless the gold price continues to rise, which it could given the unstable global financial markets, the big boys of Australian gold such as Newcrest and Northern Star, which have already weakened, could fall further to better reflect their underlying earnings.

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29th August 2019

Sandfire Resources managing director Karl Simich says now is a time of significant opportunity in the global base metals sector (reports MiningNews).

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Kambalda-area miner Mincor Resources has delivered a substantial increase in tonnes at its greenfields Cassini nickel sulphide discovery at the southern end of the Widgiemooltha Dome, as it continues to refocus on the metal after its dalliance with gold (reports MiningNews). Cassini now hosts 37,800t of the metal, an increase of 33%, with a high-grade 9300t averaging 4.5% nickel confirming the discovery is "one of the largest and highest grade deposits" in Western Australia's Kambalda district.

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Not content with a 35-fold increase in the value of its shares, Saracen Mineral Holdings has announced plans to start paying dividends (reports The Australian Financial Review).

Not content with a 35-fold increase in the value of its shares, Saracen Mineral Holdings has announced plans to start paying dividends (reports The Australian Financial Review). The new dividend policy was announced on Monday as Saracen reported a 22 per cent rise in profits to $92.5 million. The result was slightly lower than the $101 million analyst consensus published by Bloomberg, but marks the sixth consecutive year that Saracen has grown its earnings.

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