News

Rio Tinto’s hush-hush copper discovery in WA’s remote North Paterson region is to get its own airstrip.

Rio Tinto’s hush-hush copper discovery in WA’s remote North Paterson region is to get its own airstrip. And the most recent satellite fly-over shows there has been lots of activity at the discovery, 120km north-north-west of the nearest point of civilisation, Newcrest’s once-great Telfer gold-copper mine. There are new drill lines extending south by about 400m from our previous flyover, the 40-man camp is in, and the drill core lay-down area is expanding. Rio has also bulldozed a new access track to the north-west.

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Gold did exactly what it’s supposed to do this week - rose when everything else was falling

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Perth broker Hartleys has updated its 12-month price target for base metal developer Venturex Resources (ASX: VXR) to 45 cents-a-share following the release of the Company’s highly-anticipated Definitive Feasibility Study on its flagship Sulphur Springs copper-zinc project in WA. In a new report, Hartleys analyst Paul Howard has issued a Speculative Buy recommendation on the stock, saying that securing funding for the $169 million Sulphur Springs development is the next step for the company.

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WA gold explorer Breaker Resources (BRB) is under-valued and the stock will be re-rated on the back of upcoming newsflow, according to research from broker Patersons. Patersons analyst Xavier Braud says Breaker’s Bombora gold discovery, 100km east of Kalgoorlie, will grow beyond the current 1.1 million-ounce resource.  “With 1.1Moz in resource and a growing number of drill holes outside the resource envelope, Bombora is clearly evolving into a large and significant gold system,” Braud says in his latest note on Breaker.

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Sydney-based institutional broker Petra Capital has issued a BUY recommendation and 12c-a-share price target for South African-focused base metal developer Orion Minerals (ASX: ORN) following updates on the company’s Bankable Feasibility Study issued over the past week. Orion is fast-tracking the development of the Prieska zinc-copper project in South Africa, a historical mine that was originally discovered in 1968 and was operated for 20 years by AngloVaal, at the time boasting a position as one of the world’s top-30 VMS deposits.

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Analysis by Bank of America Merrill Lynch Global Research (BofA) paints a bullish scenario for gold to trade up to US$1400/oz in 2019 (reports MiningNews). Research by the bank's global commodities team showed equity markets were already "sowing the winds of change" and rising volatility (as measured by the Chicago Board Options Exchange's VIX) would eventually force the US Federal Reserve Bank to slow down the rate of interest rate hikes. Rate increases in April and June have been weighing on the yellow metal's price performance to date.

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26th October 2018

Sandfire Resources has delivered an “extraordinarily strong” September quarter, both advancing its exploration and development projects and setting the miner up to deliver at the higher end of guidance, managing director Karl Simich said (reports MiningNews).

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A strong September quarter has kept Northern Star Resources on track to meet its increased guidance of 850,000-900,000 ounces of gold at all-in sustaining costs of A$1050-1150/oz (reports MiningNews).

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