News

Fenix Resources could be producing iron ore within months from its Iron Ridge project, near Cue in Western Australia (reports MiningNews).

Fenix Resources could be producing iron ore within months from its Iron Ridge project, near Cue in Western Australia (reports MiningNews). A feasibility study outlined capital costs of just A$11.9 million for a 6.5-year operation producing 1.25 million tonnes of iron ore per annum at C1 costs of $76.86 per tonne. Just 56% of the capital costs are payable on a pre-production basis, with the remainder to be payable after the first shipment. The project returned an estimated pre-tax internal rate of return of 58.9% and a net present value of $54.3 million.

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WA explorer Syndicated Metals says a newly acquired, early stage project resembles the +6 million-ounce Tropicana deposit. Here’s hoping (reports Stockhead). Today, Syndicated (ASX:SMD) scored itself a second major landholding in the Laverton gold district of WA, buying an 80 per cent interest in the Edjudina project from Gateway Mining (ASX:GML). For Gateway, which is focused on its +240,000oz Gidgee project, Edjudina is a non-core asset.

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8th November 2019

Hopes for Kwinana to host a battery minerals processing hub have taken a step forward after Kibaran Resources said test work had bolstered its plans for a graphite processing facility on the industrial strip south of Perth (reports The West Australian). Kibaran said work by consultant GR Engineering had supported the credentials of the company’s patented EcoGraf technology to produce a clean spherical graphite product for the anodes of lithium-ion batteries.

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Silver Lake Resources has been forced to lift its stalled takeover offer for developer EganStreet Resources after EganStreet received a higher offer (reports MiningNews). EganStreet confirmed late Friday it had received an indicative, non-binding A40c per share cash takeover proposal from unlisted Adaman Resources. Adaman, which owns the Kirkalocka gold mine near EganStreet's Rothsay project, needed to secure a $60 million funding facility from Remagen Capital Management to fund the buy.

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Nickel won the gold medal at a major metals conference in London this week

Nickel won the gold medal at a major metals conference in London this week but not on the market where the price barely moved, an anomaly which should be corrected next year on the purest of fundamental measures - demand is rising and supply is falling. The muted reaction of nickel to the latest crack-down on exports of unprocessed metal by Indonesia was the biggest surprise on commodity markets, which continue to behave erratically thanks to the ongoing political and economic uncertainties in Europe, the UK and the US.

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Sandfire Resources (ASX: SFR) is a consistent copper producer and should meet its FY20 guidance of 70-72kt of copper output, according to Citi Research

Sandfire Resources (ASX: SFR) is a consistent copper producer and should meet its FY20 guidance of 70-72kt of copper output, according to Citi Research, with the company also now boasting a “full” project development pipeline. However, investors need to balance the modest remaining mine life at the company’s DeGrussa operation in WA with the development timing of new projects set to come on stream over the next two years in Botswana and the USA, Citi said in a new research note released following the company’s September quarterly report.

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Analysts remain cautiously optimistic on Dacian Gold after a strong quarter at its Mt Morgans gold operation near Laverton in Western Australia

Analysts remain cautiously optimistic on Dacian Gold after a strong quarter at its Mt Morgans gold operation near Laverton in Western Australia (reports MiningNews). As previously reported, the open pit and underground operation produced 42,002 ounces of gold in the September quarter, up from 36,658oz in the June quarter. The result puts Dacian ahead of its half-year guidance of 67,000-77,000oz of gold. All-in sustaining costs were A$1423 an ounce, and all-in costs were $1557/oz.

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Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation

Sydney-based institutional broker Petra Capital has upgraded its price target for gold producer Red 5 (ASX: RED) by 13 per cent to 58c-a-share (more than double the recent trading price of 27-28c) and reaffirmed its BUY recommendation following its recent September quarterly report. And Morgans Stockbroking has maintained a 50c price target and ADD rating for the stock, with the brokerage picking a number of positives out of Red 5’s September quarterly results.

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