Martin Place Securities’ Barry Dawes says market conditions are positioning both the gold price and equities to soar (reports MiningNews). "I've never been more excited than where we are today," the always bullish Dawes told ResourceStocks Sydney today. He noted Asian countries bought up gold when it was cheap, while inventories had run down in the West. "The West is generally short gold," Dawes said. "Because there are short positions in the West, we're going to see that driving the gold price much higher."

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Australia highlighted just how vulnerable the US is in the area of rare earths in an attempt to attract more investment to the local industry (The Australian Financial Review reports). A report from the Morrison government outlines how reliant the US has become on China in rare earths and exposes gaping holes in the supply chain for the materials that are becoming increasingly important in electric vehicles, electronics and military applications.

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Plus, Red 5 poised for promotion to the next league of ASX gold producers. And Macquarie sees short-term bullish catalysts for commodities.

Stavely Minerals (ASX:SVY) has added a stunning second leg to its big-time copper hunt in the shadows of the Grampian Ranges in western Victoria, with the first hole in a new shallow-focussed drilling program assaying up to 40% copper. The spectacular hit was made at the Thursday’s Gossan prospect, with the diamond drill hole specifically targeting shallow and structurally controlled mineralisation within the Ultramafic Contact Fault (UCF).

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Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday

Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday, and the negative influence of international political shenanigans, to leave financial markets in an eerie truce. Stavely’s exceptional copper assays from its Thursday’s Gossan project in Victoria (the subject of Barry Fitzgerald’s column, above) lit up the market, along with Mincor’s high-grade nickel hit at the Cassini project in WA and Azure Minerals’ exceptional zinc recoveries at its Oposura mine in Mexico.

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The gold price is on track to take out its previous record, says mining analyst and Metalla Royalty & Streaming director EB Tucker (reports MiningNews). He told MNN sister publication Mining Journal during the Denver Gold Forum in Colorado last week that the easy money was to be made in silver and gold at this stage. He sees the stars aligning for silver to achieve US$20/oz in the near term and for gold to take out its previous high of $1889.70 next year.

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After being hailed mid-decade as the most significant greenfields discovery in Kambalda for many years, Mincor Resources’ Cassini nickel deposit has delivered its highest value drill intercept thus far (reports MiningNews). Diamond core drilling hit 15.4m grading 4.7% nickel (with a true width of more than 13m), and encouragingly the intercept was on the boundary of the current mineral resource and 73m along strike from an earlier assay of 6.3m at 7.1% nickel.

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27th September 2019

A soaring gold price, now sitting above US$1500 per ounce, has enabled Western Australian Red 5 to generate significant revenue from its mines of A$151.5 million, but development of its Darlot and King of the Hills mines meant the company still delivered a net loss of $3 million (reports MiningNews).

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The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten

The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten after a site visit last week (reports MiningNews). Northern Star hosted a group of analysts and investors at site following the Denver Gold Forum, with some returning after 12 months to view the company's progress after it took ownership in late September 2018. Since then, the company has been working on an 18-month "renovation" of the asset, a Jundee lookalike, to realise its full potential.

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