News - Prospector's Diary

If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago

If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago, it would be a good way of describing events this week in the Australian gold sector. On the one hand, gold hit an all-time record of more than $A1900 an ounce, while on the other hand, three local gold miners suffered self-inflicted wounds that decimated their share prices.

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Rare earth stocks woke with a jolt this week

Rare earth stocks woke with a jolt this week, for the same reason iron ore stocks have been on fire. Both sectors are winners from the increasingly dangerous trade war which has pitted the US against China. The iron ore rally is well understood. It’s an event driven by a supply squeeze courtesy of problems in Brazil and demand-pull courtesy of China stimulating its economy to offset declining exports to the US.

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Battery-metal news livened up the Australian market in a week dominated by post-election analysis

Battery-metal news livened up the Australian market in a week dominated by post-election analysis, high iron ore prices, the return of coal to the winner’s circle and the first worrying signs that Dr Copper might be catching a trade-war cold. Five battery-linked events, two in lithium and one in each of graphite, rare earths and nickel, served as a reminder that battery-metals remain a sector with significant growth potential for Australian investors.

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The dead hand of Australian politics took a firm grip of the stock market

The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel. Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.

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Lithium returned as a market driver this week through a combination of discovery news

Lithium returned as a market driver this week through a combination of discovery news and the potential for further takeover developments, eclipsing continued strength in iron ore and signs of a gold revival as international affairs took a turn for the worse. The big news was a possible second bidder entering the race for control of Kidman Resources, the lithium stock in the sights of industrial conglomerate, Wesfarmers.

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Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week

Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week thanks to a high-priced takeover bid from Wesfarmers for lithium project developer, Kidman Resources, and a plan to re-open the mothballed Ravensthorpe nickel project. Both moves demonstrated a return of confidence in battery metals and for the overall health of the broader market for minerals and metals.

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Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after.

Oil and gas might not appeal to environmentally-conscious investors, but what’s happened over the past week on the global and local stages makes it a hard sector to avoid if profits are what you’re after. A sharp rise in the oil price earlier this week to more than $US74 a barrel was largely a function of international events, including a fresh threat from Iran to blockade the narrow Strait of Homuz at the western end of the Persian Gulf in retaliation against US sanctions.

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Gold down, iron ore up - perhaps with a lot further to go. In a nutshell, they were the highlights of an Easter holidays-shortened week on the Australian stock market.

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3rd Dec 2019

RRS Summer Series 2019 - Sydney Conference

One-day investor conference in Sydney on Tuesday 3 December 2019.

5th Dec 2019

RRS Summer Series 2019 - Brisbane Conference

One-day investor conference in Brisbane on Thursday 5 December 2019.

26th - 27th May 2020

Gold Coast Conference

The 2020 Resources Rising Stars Conference will be held in May 2020 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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