Global financial wobbles reinforced the case for gold this week
Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell.
Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.
Dacian Gold’s Mt Morgans gold mine has made a strong start to the 2020 financial year
Dacian Gold’s Mt Morgans gold mine has made a strong start to the 2020 financial year (reports MiningNews).
The operation, near Laverton in Western Australia, produced 16,188 ounces of gold in July.
The month's production puts Mt Morgans at an annualised run-rate of 194,256 ounces of gold, well above its guidance of 150,000-170,000oz.
Calidus Resources has raised A$9 million to complete the feasibility study for its Warrawoona gold project in Western Australia’s Pilbara region
Calidus Resources has raised A$9 million to complete the feasibility study for its Warrawoona gold project in Western Australia’s Pilbara region, with undisclosed institutions involved in the funding and miner Alkane Resources maintaining its circa 13% stake by putting in $1.2 million (reports MiningNews).
The new shares have been priced at 3.2c each, with the stock recently reaching a recent 52-week high of 4c after having been about half that price earlier this year.
WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project
WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project, according to veteran Sydney-based analyst Gavin Wendt.
“The catalyst has been the release of a series of outstanding assay results from the recently expanded +40,000m exploration drilling program at its 100%-owned 2.6Moz Bardoc Gold Project, situated 55km north of Kalgoorlie,” Wendt wrote in his widely circulated Minelife newsletter this week.
Emerging base metals company Orion Minerals (ASX: ORN) is a “rare investment opportunity” whose share price “may at least double” on a one-year view
Emerging base metals company Orion Minerals (ASX: ORN) is a “rare investment opportunity” whose share price “may at least double” on a one-year view, according to a new research report issued by top South African broker Vunani Securities.
In a comprehensive 25-page report, the Johannesburg-based broker has issued a BUY recommendation for Orion (which is also listed on the JSE), describing its 70%-owned Prieska copper-zinc project in the Northern Cape as “world-class” with the ability to generate “large amounts of free cash”.
ASX-listed RBR Group has started training prospective workers for jobs that will become available at Mozambique’s emerging liquefied natural gas (LNG) projects (reports South Africa’s Engineering News).
As part of its strategy to assess, train and provide workers for the LNG projects, the labour and training specialist has opened a training centre in Palma, Mozambique, which is located close to the LNG construction sites.
Electric vehicles, and the wider battery revolution, is held up as a massive opportunity for nickel, tin, graphite and lithium players, and now a new report shines a light on how much copper will be needed: 250% more by 2030.
Wood Mackenzie forecasts that over 20 million EV charging points could to be deployed over the next needed, and that means the world needs to produce around 2.5 times more copper by 2030 than it will this year - and that means a lot of money needs to be spent to find and produce it.
Plus, run-away gold price should fuel the urge to merge in junior land
After some PC issues were sorted out, Kalgoorlie’s Palace pub got back to its bustling self in the final days of the Diggers & Dealers bash.
And as yesterday became today for the eclectic mix of well-watered miners and money-types, the rumour mill went in to over drive.
Sorting out the factual from the nonsense, and then trying to remember which was which as the sun dawned on another day under Kalgoorlie’s big blue sky, required some effort.