Veteran resource analyst and former fund manager Dr Chris Baker from Bridge Street Capital Partners in Sydney has upped his interim valuation of emerging lithium miner Liontown Resources (ASX: LTR) from 11c to 20c a share on the back of the latest outstanding drilling results from its Kathleen Valley deposit in WA.
Baker says the latest drilling, including a spectacular recent intercept of 90m at 1.3% Li2O, underpins the potential for a resource of greater than 60 million tonnes at 1.4% Li2O and a possible mine life of 25 years.
Kidman Resources shareholders will vote on Wesfarmers’ $776 million takeover offer in August after the lithium miner entered into a scheme implementation deed with the WA-based conglomerate (reports The Australian).
Kidman said its board had concluded that the bid was in the best interest of shareholders and recommended they vote in favour of the scheme.
Under the agreement, it is proposed that Wesfarmers will acquire 100 per cent of the shares in Kidman at $1.90 per share - a 47.3 per cent premium on the last closing price for Kidman shares on May 1.
The gold industry has endured a rollercoaster ride in the 21st century to date, with the gold price rising from $US255 an ounce in 2001 to $US1900 in 2011, before falling to $US1050 by the end of 2015 (reports The Australian).
The soaring price in the noughties prompted global gold miners into aggressive debt-funded M&A programs, notes global consultancy group McKinsey & Company. But the near halving of the price from 2011 forced now debt-heavy miners to take hefty impairments and initiate dramatic cost-saving programs.
And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline
FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference.
And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla.
Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.
The dead hand of Australian politics took a firm grip of the stock market
The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel.
Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.
A lot of metal was locked away forever when the Hawke Labor government banned mining at the Coronation Hill deposit on aboriginal and environmental grounds by including it inside Kakadu national park (reports Barry FitzGerald on Stockhead).
The 1991 ban locked away 1.4 million oz of gold, 300,000 oz of platinum group metals, and some 340,000 tonnes of uranium.
Australia's biggest export earners, iron ore and coking coal, should be fetching stronger than expected prices in coming years according to Credit Suisse (reports The Australian Financial Review).
Disruptions in the supply of both commodities have triggered a price surge in 2019, and Credit Suisse responded this week by announcing large upgrades to its price forecasts.
Following a string of positive news in its March quarterly and the recent positive election results in South Africa with the re-election of the ANC, base metals developer Orion Minerals (ASX: ORN) is set for a “number of positive” catalysts at its flagship Prieska zinc-copper project in South Africa – according to Sydney-based institution broker Petra Capital.