Saracen seen as a shining example of the silver lining in recent gold sell-off. Plus, a raft of juniors are on the potentially-lucrative porphyry trail, including Hot Chili, PolarX, Sunstone, Stavely and DevEx.
It has taken the retreat in the gold price to below $US1500/oz to see a return of value among the gold producers.
While the gold price was on the rise to $US1550/oz, investors were happy to chase the producers higher notwithstanding warnings that share prices had got well ahead of fundamental value, creating a value trap should gold’s upwards trajectory be reversed.
Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets
Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets – but it could, and that’s interesting.
The switch, so modest that not many people noticed, saw gold slip by $64 an ounce to around $US1491/oz and copper rise by US10 cents a pound to $US2.62/lb.
In percentage terms, those moves look a little more thought-provoking because they are both roughly 4% - gold down by 4%, copper up by 4%.
Major miner Newcrest (ASX:NCM) has announced some monster gold-copper intercepts at the Havieron project
Major miner Newcrest (ASX:NCM) has announced some monster gold-copper intercepts at the Havieron project — just when you think the Paterson Province buzz might be fading a bit (reports Stockhead).
Highlights included 43m at 7.9 grams per tonne (g/t) gold and 0.83 per cent copper, 900m from surface, and a 244.6m-long intersection grading 2g/t gold and 0.4 per cent copper from 450m.
Perth broker Hartleys has upgraded its 12-month price target for base metal developer Venturex Resources’ (ASX: VXR) to 55c-a-share in the wake of a landmark $100 million term sheet for senior debt funding for its Sulphur Springs copper-zinc project
Perth broker Hartleys has upgraded its 12-month price target for base metal developer Venturex Resources’ (ASX: VXR) to 55c-a-share in the wake of a landmark $100 million term sheet for senior debt funding for its Sulphur Springs copper-zinc project in WA.
Hartleys resource analyst Paul Howard says Sulphur Springs is one of “a handful of quality global base metal development stories” and the timing of its development is “still compelling” despite some recent slippage.
He’s one of Australia’s most successful gold analysts with a track record of picking the sector’s winners and losers ahead of the market (reports Stockhead)
He’s one of Australia’s most successful gold analysts with a track record of picking the sector’s winners and losers ahead of the market (reports Stockhead).
And now he has revealed the stock he believes will be the next winner in the red-hot Australian gold mining sector.
Bardoc Gold (ASX:BDC) has been named by Hartleys analyst John Macdonald as a “buy” based on its rapid success in building a 2.7-million-ounce resource in the heart of WA’s goldfields.
Gold and gold equities look set to continue to rise, according to the RBC Capital Markets' Global Gold Outlook report (reports MiningNews).
The financial institution said falling real rates continued to provide the catalyst for higher gold prices as global real rates continued to decline with an estimated US$17 trillion in negative yielding debt. The report said recession fears persisted as US yield curves remained inverted while "spot gold prices appear to be pricing in two further rate cuts in 2019 by the [US Federal Reserve] and a continued dovish outlook for 2020".
Fresh from a $2.2m capital raising and a 1-for-60 share consolidation, Marindi Metals (ASX:MZN) is ready to hit the ground running with a maiden drill program about to begin at its flagship Forrestania gold project in WA (reports Stockhead).
Led by former Northern Star Resources (ASX:NST) chief geologist Simon Lawson, Marindi has been quietly working up a series of targets at the Kit Kat gold prospect, located within its extensive 700sqkm tenement package in the Forrestania belt.
Long time Brazil-focused Centaurus Metals (ASX: CTM) has attracted A$10 million in new funding for its new Jaguar nickel sulphide exploration project, including headline North American capital markets firm Sprott (reports MiningNews).
The investors are paying 1c per share for the new equity, with the funding going towards resource drilling, other exploration activities, metallurgical and environmental study work, and vendor payments.