News - Market Insights

29th June 2019

Foster Stockbroking has reissued a buy recommendation on beaten-down lithium producer Pilbara Minerals, given its share price performance in recent weeks (reports The West Australian). The Ken Brinsden-led company announced last week it was slowing production this month and next because of delays in the construction and commissioning of chemical conversion capacity by two of its Chinese customers. The news sent Pilbara’s share price plunging from 70¢ to as low as 53.5¢.

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Sandfire Resources could avoid a looming gap in its status as a copper producer after striking a takeover deal with Botswana focused advanced-stage mine developer MOD Resources

Sandfire Resources could avoid a looming gap in its status as a copper producer after striking a takeover deal with Botswana focused advanced-stage mine developer MOD Resources (reports The West Australian). The Karl Simich-led company yesterday announced a $167 million cash-and-scrip deal to take over MOD, less than six months after the target spurned a $113 million bid from the company.

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Veteran resource analyst Peter “Rocky” O’Connor, from Sydney-based Shaw & Partners, says a major acquisition announced this week by Sandfire Resources (ASX: SFR) adds another growth option for the mid-tier copper producer

Veteran resource analyst Peter “Rocky” O’Connor, from Sydney-based Shaw & Partners, says a major acquisition announced this week by Sandfire Resources (ASX: SFR) adds another growth option for the mid-tier copper producer and fills a potential production gap at its DeGrussa operation in WA. “Sandfire has been ‘cum’ a major acquisition/transaction for some time….and finally we have it – MOD Resources, copper in Botswana, an advanced project…on first glance we like,” O’Connor wrote.

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The final assays from Liontown Resources’ resource expansion drilling continued to support the company’s view the mineralised pegmatites at Kathleen Valley are merging at depth to form a single, 35-75m thick orebody

The final assays from Liontown Resources’ resource expansion drilling continued to support the company’s view the mineralised pegmatites at Kathleen Valley are merging at depth to form a single, 35-75m thick orebody (reports MiningNews). Recent hits include 83m at 1.5% lithium oxide, including 4m at 2.8% Li2O from 266m and 20m at 1.9% Li2O from 285m; and 53m at 1.6% Li2O from 289m including 15m at 2% Li2O from 300m and 18m at 1.8% Li2O from 321m.

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Almost 5km of infill drilling has increased Calidus Resources’ confidence in its 1.25 million ounce Warrawoona resource in Western Australia’s Pilbara region ahead of the release of a pre-feasibility study into the project next month (reports MiningNews). In particular the drilling has shored up confidence in the Klondyke deposit that is part of the Warrawoona resource. The 42-hole program's early results for holes from the western pit area included 13m at 1.58 grams per tonne from 28m, and have confirmed the grade continuity in that area.

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Falling bond yields, currencies and rising geopolitical tensions have sparked a gold rush as investors flock towards the soaring safe haven asset (reports The Australian Financial Review). Central banks worldwide have signalled they're likely to cut rates in the next few months while President Donald Trump doesn't shy away from ramping up the tension with China and Iran, propelling gold past a six-year high of $US1417.51 an ounce.

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Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project

Nedbank has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project in Tanzania following an extensive six-month due diligence process (reports MiningNews). The terms sheet for the five-year credit facility will meet a considerable amount of the project's capital requirements now estimated at $35 million, with Strandline describing the terms as "favourable". The pair is now working to finalise all conditions precedent, which will allow for the first draw-down.

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Perth broker Euroz has re-iterated its strong belief in Lucapa Diamond Company

Perth broker Euroz has re-iterated its strong belief in Lucapa Diamond Company (LOM), saying the stock is set to rise sharply on the back of expanding production. Euroz has set a buy recommendation on Lucapa with a price target of 61c, well ahead of its current price of 17c. London broker Panmure Gordon already has a 45c price target on Lucapa. Euroz says the recent US$10m sale of gems from the company’s Lulo project in Angola provides further evidence of the joint venture’s ability to self-fund a 50 per cent expansion of alluvial diamond mining operations.

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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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