One deal does not a rush make. But when South 32 this week lobbed a spectacularly generous bid for a promising US zinc explorer, the keenly awaited outbreak of takeover season in the mining sector came a step closer.
Copper and nickel staged a two-horse race on the Australian stock market this week with copper winning by a nose, but with most companies exposed to the metals enjoying strong support, led by Sandfire Resources in copper and Independence in nickel.
The US dollar gave gold a blood nose this week in a powerful demonstration that America remains the 600-pound gorilla in the financial world, but across the border in Canada there was a conference where another metal shone: copper.
If oil stocks are not part of your investment portfolio then you really ought to start thinking about adding a few because last week saw an acceleration of a re-awakening process that has lifted small oils into the ranks of top performers on the ASX
Resources stocks in Australia trended up over the past week, at least that’s how I saw the market from afar with this edition of Prospector’s Diary being filed from New York where interest in commodities is growing rapidly.