News

China’s debt-fuelled plans to prop up economic growth could push its already high debts up to dangerous levels, raising the chance of a painful crunch for the global economy, the Bank of England fears (reports London’s Daily Telegraph). A further fall in China's economic growth risks making its debts “significantly less sustainable” with serious implications for markets, Deputy Governor Sir Jon Cunliffe has warned.

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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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Plus, New World Cobalt turns its hand to a promising gold and base metals project. And Vale, Sir Arvi.

There was lots to cheer about for the ASX-listed lithium stocks when Wesfarmers (WES) rolled out its $776 million, or $1.90 a share, friendly takeover bid for Kidman Resources (KDR). First there was the 47% premium to Kidman’s last sale, confirming what was said here last month that there was value to be had in the lithium stocks because the equity market had overdone last year’s great sell-off in the sector.

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Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week

Battery metals, after a six-month sabbatical, surged back to the top of the mining-sector league table this week thanks to a high-priced takeover bid from Wesfarmers for lithium project developer, Kidman Resources, and a plan to re-open the mothballed Ravensthorpe nickel project. Both moves demonstrated a return of confidence in battery metals and for the overall health of the broader market for minerals and metals.

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North American broker Canaccord Genuity has slightly pared back its valuation of WA gold producer Dacian Gold (ASX: DCN)

North American broker Canaccord Genuity has slightly pared back its valuation of WA gold producer Dacian Gold (ASX: DCN) following its March quarterly report, but still has a healthy 12-month price target of $3.35-a-share and buy recommendation for the stock. This is well north of Dacian Gold’s current price of ~$1.95 a share.

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Brokers Hartleys and Patersons are urging investors to buy shares in Strandline Resources

Brokers Hartleys and Patersons are urging investors to buy shares in Strandline Resources, saying they stand to make handsome profits as the company advances it pipeline of mineral sands projects in Australia and Tanzania. In a fresh research report, Hartley tips Strandline shares to hit 22c compared with their current price of 12c, saying the company has “the potential to build a substantial mineral sands business”. Hartleys examines in detail the recently released Feasibility Study on Strandline’s large Coburn mineral sands project in WA.

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Despite the continued sell-off of global lithium stocks, Pilbara Minerals boss Ken Brinsden says there’s no issue with demand (reports MiningNews).

Despite the continued sell-off of global lithium stocks, Pilbara Minerals boss Ken Brinsden says there’s no issue with demand (reports MiningNews). Cannacord Genuity noted today that the Global X Lithium ETF was down by 4.3% last week alone, and Pilbara fell 3.5% this morning (Monday) to a 2019 low of A63.2c off the back of its March quarterly. Brinsden told investors this morning that demand for lithium remained strong.

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WA lithium developer Liontown Resources (ASX: LTR) continues to impress Bridge Street Capital Partners’ resource analyst, Dr Chris Baker.

WA lithium developer Liontown Resources (ASX: LTR) continues to impress Bridge Street Capital Partners’ resource analyst, Dr Chris Baker. Baker has been following Liontown closely and he was back in the field this week, pausing to issue a brief flash note on the Company’s most recent drilling results – which included the best-ever lithium intercept recorded from the Kathleen Valley Project. “A particularly impressive suite of drill holes from Kathleen Valley which might take total resources to over 50Mt!” he said.

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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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