News

And speaking of leverage, PolarX is about to drill some deep holes into a highly-rated porphyry target courtesy of North American major Lundin

Newbie gold producer Dacian (DCN) served up some shock back in early June when it told the market that it should forget about its Mt Morgans operation being a 200,000 oz a year producer for 10 years at a cost of $A1,000 an oz. Its June 5 stock price crashed from $1.58 to 51c, catching everyone in the market – and this space – on the hop. To the credit of executive chairman and CEO Rohan Williams, Dacian has wasted no time getting back to the market with a five and an eight-year mine plan and a stated intention of not raising equity funds to see it through.

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The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates

The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates and base metals declining because lower rates signal slowing economic activity. Much of what’s just happened could set the tone for the rest of the year with the US expected to make deep cuts into its interest rates, especially if the trade war with China worsens.

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Lithium miner Pilbara Minerals on Tuesday said it had signed an additional deal with Chinese automaker Great Wall Motor

Lithium miner Pilbara Minerals on Tuesday said it had signed an additional deal with Chinese automaker Great Wall Motor to supply spodumene concentrate, a key mineral for electric vehicles (reports Reuters). Deliveries under the deal will begin in August, with 20,000 dry metric tonnes of concentrate to be shipped annually for six years. The West-Perth based company's shares reversed course to rise as much as 13.7 per cent after the announcement, their sharpest gain in more than three months, before closing 5.1 per cent higher at 52¢.

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Finally some good news for our bashed up lithium stocks

Finally some good news for our bashed up lithium stocks (reports Barry FitzGerald on Stockhead). It comes from a Reuters interview with German automaker Volkswagen on its push into electric vehicles, combined with analytical work, funnily enough, by one of the biggest local bears on the lithium sector, Macquarie. VW board member Stefan Sommer told Reuters that the company would need 150 GWh of battery production in both Asia and Europe by 2025, and double that by 2030.

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Liontown Resources has been hinting for some time of a major resources boost for its Kathleen Valley lithium-tantalum resource near Leinster

Liontown Resources has been hinting for some time of a major resources boost for its Kathleen Valley lithium-tantalum resource near Leinster, Western Australia, and it has delivered this morning with a 353% increase – blowing its exploration target out of the water (reports MiningNews). athleen Valley now costs a75 million grading 1.3% lithium and 140ppm tantalum for 2.5Mt of lithium carbonate equivalent and 23 million pounds of Ta2O5.

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Dacian Gold has embarked on the road to rehabilitation, with a new long-term plan for its Mt Morgans project near Laverton (reports The West Australian).

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Centaurus Metals isn’t the only company dusting off an old iron ore project in light of the surging price for the steel-making commodity (reports The West Australian). But it probably has a better chance than most, in bringing its Jambreiro project in south-eastern Brazil into production.

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Holdings in global gold-backed ETFs rose sharply in June by 127 tonnes to 2548t – equivalent to US$5.5 billion in inflows – on heightened geopolitical uncertainty and more accommodating monetary policy signals by central banks, according to the World Gold Council (reports MiningNews). This drove interest rates and the US dollar lower and shifted gold-price momentum, director of investment research Juan Carlos Artigas told MNN sister site Mining Journal.

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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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