Breaker Resources boss Tom Sanders has compared the company’s greenfields Bombora discovery to Kalgoorlie’s famous Golden Mile (reports The West Australian).
Speaking at the Resources Rising Stars conference on the Gold Coast, Mr Sanders said the company had barely scratched the surface at Bombora despite drilling 247,000m since listing in 2012 and defining a resource of 1.1 million ounces.
Sentiment in the junior mining space has reached “peak despondency” and could be ripe for a turning point, according to a respected fund manager (reports The West Australian).
Delivering the keynote address at the Resources Rising Stars conference on the Gold Coast, Lion Selection Group investment manager Hedley Widdup says a resurgence in M&A activity at the major end of the resources sector could usher in growing interest in the junior end of the market as the big players go looking for growth.
The trickledown effect of the surge in iron ore prices in response to Vale’s January 25 tailings dam disaster is starting to take effect.
Project proposals consigned to history when iron ore prices tanked some years back are being dusted off in the hope that the $US100/t prices are here to stay for the foreseeable future.
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.
Headline performance of miners since 2016 has been sterling. The ASX100 Resources and Small Resources have both posted strong gains, with capital returns of 2x from both Indices in 3.5 years (reports Lion Selection Group’s Hedley Widdup on Livewire).
It’s been nearly two years since Perth-based gold miner Red 5 surprised the market by abandoning its operations in the tricky mining jurisdiction of the Philippines to focus on WA (reports The West Australian).
It’s been nearly two years since Perth-based gold miner Red 5 surprised the market by abandoning its operations in the tricky mining jurisdiction of the Philippines to focus on WA (reports The West Australian).
In what looked a risky and ambitious bet 18 months ago, the company acquired the ageing Darlot mine near Leinster from South African giant Gold Fields and the historic King of the Hills project 80km to the south from Saracen Mineral Holdings.
Sydney-based institutional broker Petra Capital believes that a comparison between Red 5’s (ASX: RED) King of the Hills gold project and Gold Road’s (ASX: GOR) Gruyere project could be indicative of “material upside” in the Red 5 share price.
Diamonds from Lucapa Diamond Company’s 70%-owned Mothae mine have sold for A$5 million (reports MiningNews).
Diamonds from Lucapa Diamond Company’s 70%-owned Mothae mine have sold for A$5 million (reports MiningNews).
The mine, in Lesotho, is a partnership with the government.
The second tender, comprising a parcel of 7008 carats, sold in Antwerp for US$3.5 million.
The tender included prices of up to $26,000 per carat paid.
Lucapa managing director Stephen Wetherall said the latest tender results continued to underline Mothae's status as one of a select few global mines capable of producing high-value diamonds on a consistent basis.
