News

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.

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Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian).

Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian). The deal will see DSKH take all of the titanium dioxide pigment produced by its Mt Peake vanadium and titanium project in the Northern Territory. TNG shares jumped 45 per cent to 4.5¢ before dipping to be 3¢ up at 13¢ as at 12.30pm. The company and DKSH have been negotiating a binding deal since disclosing in October that they were in talks.

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Plus, Rio chairman says “we think we have a mine” at Winu copper discovery

Leading gold issues have become something of a value trap in the past couple of months in the absence of a breakout in the US dollar gold price. As mentioned here previously, the ASX gold producers were priced for perfection in the back half of last year and without any stock-specific news, they have drifted sharply lower as the US gold price has come off. Newcrest is the singular exception thanks to its pivot to copper with the March acquisition of a 70% stake in the Red Chris copper-gold operation in Canada.

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Lithium returned as a market driver this week through a combination of discovery news

Lithium returned as a market driver this week through a combination of discovery news and the potential for further takeover developments, eclipsing continued strength in iron ore and signs of a gold revival as international affairs took a turn for the worse. The big news was a possible second bidder entering the race for control of Kidman Resources, the lithium stock in the sights of industrial conglomerate, Wesfarmers.

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At various times in the market there will be particular sectors that go for a run

At various times in the market there will be particular sectors that go for a run – lithium, for example (reports Stockhead). But right now, according to Wendt, it is more about individual stocks than one sector being the hot favourite. “18 months ago it didn’t matter what stock you looked at in the lithium space, everything was moving and everything was moving rapidly and you sort of get that with the first wave I think of any new hot fashionable sector,” he told Stockhead.

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Hartleys has maintained its accumulate recommendation for Sandfire Resources

Hartleys has maintained its accumulate recommendation for Sandfire Resources but cut its 12-month price target to $7.36 from $8.17 after another good quarter by the copper miner (reports The West Australian). Sandfire’s biggest challenge is the depletion of its flagship DeGrussa mine, near Meekatharra, which needs a new discovery to extend its life past 2022. Hartleys noted the recent release of a draft environmental impact statement for Sandfire’s 86 per cent-owned Black Butte copper project in Montana.

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Owning one of the biggest virgin gold discoveries in the last 15 years in Western Australia does not necessarily deliver a premium market rating. Not immediately anyway

Owning one of the biggest virgin gold discoveries in the last 15 years in Western Australia does not necessarily deliver a premium market rating. Not immediately anyway (reports Barry FitzGerald on Stockhead). Just ask Breaker Resources which last traded at 35.5c for a market value of $64 million. It has the lowest market value per oz of gold resource in-the-ground amongst its peer group. Yet its Bombora discovery at its Lake Roe project, 100km east of Kalgoorlie, comfortably sits amongst the biggest virgin gold discoveries of the last 15 years.

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Iron ore could cross the symbolic US$100 a tonne threshold in a matter of days after yet another supply disruption added to turmoil in the global market (reports London’s Daily Telegraph). The commodity, used in steelmaking, initially jumped by as much as 4.4pc on futures markets in China before closing at 652 yuan (US$96) on Tuesday, after mining giant Vale revealed that courts in Brazil had reversed a decision to allow operations to restart at its Brucutu complex.

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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