News

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead).

Kambalda-based Mincor has announced a $35m cap raise to fund its aggressive nickel restart strategy (reports Stockhead). In August 2018, developer Mincor Resources (ASX:MCR) unveiled a maiden resource at Cassini, the first nickel deposit to be discovered in the Kambalda district for many years. The resource has been updated three times since then. In November, it was increased to 1.254 million tonnes at 4 per cent nickel for 50,400 tonnes.

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The Reserve Bank considered a surprise rate cut at its Melbourne Cup day policy meeting, but ultimately decided to wait and see how its three cuts since June would work their way through the economy, the bank’s board minutes reveal (reports The Australian).

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US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review).

US Federal Reserve officials stressed that risks to the US economy remained elevated as they agreed to put interest rates on hold following their third cut this year (reports The Australian Financial Review). Many participants saw downside risks to the economic outlook as elevated, "further underscoring the case for a rate cut at this meeting,'' according to minutes of the October 29-30 Federal Open Market Committee session released Wednesday (Thursday AEDT) in Washington.

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Saracen Mineral Holdings believes exploration around Western Australia's Superpit mine will unlock ''decades'' more gold and vindicate its decision to spend $1.1 billion buying a 50 per cent stake in the asset at near record gold prices

Saracen Mineral Holdings believes exploration around Western Australia's Superpit mine will unlock ''decades'' more gold and vindicate its decision to spend $1.1 billion buying a 50 per cent stake in the asset at near record gold prices (reports The Australian Financial Review). The "transformational" deal would make Saracen one of the four biggest gold producers on the ASX and put it in the box seat to eventually own all of the Superpit should US giant Newmont ever follow Canadian rival Barrick's example by exiting the famous Kalgoorlie operation.

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Advanced explorers and emerging producers such as Aeon Metals and Todd River well positioned to benefit from the upturn

The year all but complete will go down as a golden one for the junior resources sector. Annoyingly though, gold is now going through a correction that has knocked close to $200/oz off the local price and, more importantly, short-term sentiment around the US dollar price. While gold goes through its correction to recover on the other side – ABN Amro is tipping $US1600/oz by the fourth quarter of next year – there has been a notable improvement around sentiment towards the base metals, led by Dr Copper.

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Waiting for a sea-change in financial markets can be frustrating, and it certainly was this week for investors who moved too quickly into industrial metals in the belief that gold has run its race. But that’s not quite how events played out.

Waiting for a sea-change in financial markets can be frustrating, and it certainly was this week for investors who moved too quickly into industrial metals in the belief that gold has run its race. But that’s not quite how events played out. Next year it could be a different story given the early signs of the global economy entering a recovery phase after a horrid year, though the core problem remains the same - the unpredictable moods of the US President, Donald Trump.

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15th November 2019

Red 5 is still looking at ways of securing the future of its Darlot operations in Western Australia

Red 5 is still looking at ways of securing the future of its Darlot operations in Western Australia, and after its takeover of Bullseye Mining was rebuffed, it is again expanding in the Leonora region by signing a A$2.5 million option agreement for minnow Terrain Minerals’ Great Western project (reports MiningNews).

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Strategic metals developer TNG Limited (ASX: TNG) is expected to make a final investment decision for its $824 million Mount Peake vanadium-titanium-iron project in the NT by mid-2020, according to a new research note by Sydney-based equities research outfit Independent Investment Research. IIR has provided an “indicative base case technical valuation” for the company of more than $1 billion, or 36.9c per share, well above its current share price of 9.5c.

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