George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Latest piece by Taylor Dart at Seeking Alpha, who's one of the most well researched commentators/reporters on the Industry, but especially the ins & outs of what's been happening with Newmont/Newcrest and assets, costs, etc...
https://seekingalpha.com/article/4686125-newmont-q1-earnings-a-solid-buy-the-dip-candidate
Like so many things can happen in business, and especially M&A activity, we'll probably find that a deal(s) will be done on a basis that nobody expected, and maybe involving party(s) that nobody expected. Just as one example, the Paterson South deal with Rio was discussed for at least a year before it was announced, and I don't know anyone who even suspected it.
However, what ever does happen, there is no better BOD available in the industry than ours, to be handling it right now, IMHO.
Good news, but this is most important, IMHO:
"Our intent is to commence a substantial drilling program on the Meadows prospect at Ernest Giles in the second half of this year."
“Chinese speculators have really grabbed gold by the throat...”
That is how John Reade, chief market strategist at the World Gold Council, describes the scramble in the communist nation among investors looking to move money anywhere but in the yuan or Chinese assets....
https://www.zerohedge.com/commodities/chinese-have-grabbed-gold-throat-capital-flight-accelerates
"...It was due to restart March - right?
Where did you hear/see that?
Apparently Walkers have created a completely new flavour of crisp called 'Havieron', and they're going to make a packet!
Yeah! Let's just tell everyone what where, probably, negotiating, what we're prepared to pay for anything, and how about throwing in everything we're thinking too!
"...And taking a little bit of a detour away from Fortescue, Twiggy himself isn’t shy about investing in non-ASX companies. His private company Wyloo Metals had in 2022 committed to investing up to $120m in London-listed Greatland Gold, which has a 30% stake in the Newcrest-operated Havieron copper-gold project in WA’s Paterson Province...."
Indeed! Good old predictive text! AUD29 BILLION!
Oh! BTW, not forgetting, of course, Justin Mathew, our new Principal, Corporate Development, who advised Newmont Corp. on the recent AUD29 million acquisition of Newcrest Mining!
I can't think of a company, anywhere in the gold mining industry, anywhere in the world, with a more impressive BOD, to be handling the current situation.
In addition to Shaun Day, we have a highly experienced investment banker, who is also a member of the Board of the Reserve Bank of Australia.
We have the former CEO and Managing Director of Fortescue, the world’s fourth largest iron ore producer.
We have the past President of the iron ore, energy coal and stainless steel materials divisions of BHP.
We have a Chartered Accountant with many years’ experience in investment banking encompassing flotations, takeovers, and mergers and acquisitions for private and quoted companies.
We have a lawyer with significant experience as a non-executive director across a diverse range of industries with a particular focus on natural resources and over 20 years of experience working with ASX-listed companies.
The list goes on....
The commodities supercycle is back with a vengeance if copper’s performance since the start of the month is anything to go by.
London Metal Exchange (LME) three-month copper touched $9,640.50 per metric ton on Monday, its highest trade since June 2022.
The Friday announcement of new US and UK sanctions on Russian metal may have played a role but if so it was only a bit part. Copper is on Wednesday trading just shy of that peak at $9,560.
Copper below $9,500 per ton is now cheap, according to analysts at Citi, who have raised their forecasts to an average $10,000 in the fourth quarter of this year and $12,000 in 2026....
https://www.mining.com/web/column-funds-buy-back-into-coppers-super-cycle-credentials/
Don't forget the copper!
It does appear that someone is buying in slowly No problem getting an offer for 1M dummy sells all this week, which is normally pretty unusual with little volume going through.
SP is still ludicrously cheap, IMHO, so hopefully a steady move north...
Did they go through Aquis? 2024-04-17, 10:25 1.1925 300,000?
Don't forget the copper!
Well, that's an interesting comment from Ambrose Evans-Pritchard:
A powerful force is stalking the world’s gold market. It is operating in the shadows.
None of the normal footprints are visible on the London bullion market or the Chicago Mercantile. Retail goldbugs have not been buyers: ETF gold funds have been shrinking since December. The crowd is piling into the Bitcoin scam instead.
Yet gold has smashed through a four-year barrier around $2,000 an ounce, rising in parabolic fashion since mid-February, and hitting an all-time high of $2,431 on April 11. Is somebody preparing for an escalation of the shadow Third World War?
“It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily.
Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70 point jump in 10-year US Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold.
Whoever it is – or they are – seems insensitive to cost. Central banks do not behave like this. “They buy on the London benchmark and they don’t chase the price,” said Mr Norman. This rally is happening off books in the OTC market....
https://www.telegraph.co.uk/business/2024/04/16/gold-price-surge-china-warchest-geopolitical-dystopia/
...Already been called, possibly, the largest gold motherlode in a generation, or more....
Meanwhile, gold heading back to $2400+, which was hit only briefly, intraday, on Friday...Currently @ $2390...
So, on the face of it, "heavy weather" stopped production.
It sounds like a storm in a teacup to me. Heavy weather stops production anywhere in the world where it could be a risk to staff. Just like production stops for some regular maintenance projects.
Unless I'm proved otherwise it sounds like just another day in the world of production.
Both Rio chief scientist Nigel Stewart and head of exploration Dave Andrews have described LIBS as “game-changing” and the future of exploration.
Mr Andrews said in December that one of the problems with the painstaking and “somewhat monotonous and boring” work involved in assessing core samples was that “everyone calls that same rock a different name” whereas the LIBS scanning system took about 2000 readings a second with data on all elements in a sample.
“That’s a massive amount of data that first, geologists haven’t been able to collect and secondly, it’s impartial. It’s just calling the rock what it is,” he said.
Mr Andrews said that in some parts of the world, it could take five months to get assay data back from laboratories and the average wait time was 75 days. Rio geologists could now get all the information they required within a couple of hours of drilling.
“That is a major game changer for exploration and that’s something that we’re deploying around the world now,” he said.
Rio is spending $US250 million ($385.3 million) this year on the search for new discoveries with more than 50 per cent of that spend devoted to copper.