Geologist Dr Chris Baker is best known for his time as an analyst and portfolio manager at Colonial First State and Sydney-based Caledonia, where he became one of Australia’s leading stock-pickers in the junior and mid-tier resources space.
These days he works for Sydney-based advisory firm Bridge Street Capital Partners as an Executive Director and analyst.
But he hasn’t lost his appetite for picking potential gems in the junior resource sector that could deliver investors big returns.
Diamond miner Lucapa has pocketed a tidy $U16.7m ($23m) for seven of its Lulo diamonds, which it is now allowed to sell by international tender (reports Stockhead).
Under Angola’s new diamond marketing policy, Lucapa (ASX:LOM) was able to offer the seven diamonds weighing 498 carats for sale via electronic tender.
The total price fetched equates to a hefty average of $US33,530 per carat.
Shares jumped nearly 17 per cent to an intra-day peak of 21c on the back of the news.
Sunstone Metals is offering investors potentially huge upside via its copper-gold porphyry exploration in Ecuador, says broker Patersons in a new research report.
Titled “On an elephant hunt in Ecuador”, the report focuses on Sunstone’s Bramaderos project, where drilling is poised to start.
“If you are after a potentially large copper-gold porphyry story, Sunstone might be your point of call,” Patersons analyst Xavier Braud says.
He notes that Sunstone is led by MD Malcolm Norris, who has teamed up with Dr Bruce Rohrlach as general manager of Geology.
Explorer Genesis Minerals reckons there’s potential to define a very large shallow gold system at its second-string Barimaia project in the Murchison District of Western Australia (reports Stockhead).
Although Genesis’ (ASX:GMD) main focus is the more advanced 760,000oz Ulysses project in the Eastern Goldfields, Barimaia has “strong open pit potential”, managing director Michael Fowler said.
Barimaia is just 10km from 6 million ounce Mt Magnet mine operated by Ramelius Resources (ASX:RMS).