Tag: Investment

Independent research conducted by Austex into the Cash Flow reports of 733 resource companies has shown that total exploration was a record A$974 million, up from A$845 million in the third quarter of last year, and A$563 million a year ago. “Austex’s analysis of Appendix 5B Reports illustrates industry’s commitment to finding new mines to create jobs, royalties and benefits to the local community,” said Warren Pearce, CEO of the Association of Mining and Exploration Companies (AMEC). “Total Australian mineral exploration expenditure continues to grow, demonstrating the strength of Australia’s mineral exploration industry, the record capital raising combined with the record exploration spend will lead to more discoveries.” Total capital raisings increased to a record A$3170 million, a 37% increase...

Investors are rushing into gold stocks as the precious metal continues to hit new highs. The gold price is now above AU$2,000/oz, for the first time ever, and it seems to have plenty more in the tank with forecasters tipping a rise to US$3,000/oz within a year. Just like the gold price, Western Australia’s Paterson Province is taking centre stage. Heavyweights Rio Tinto (ASX: RIO), Newcrest Mining (ASX: NCM), and IGO Ltd (ASX: IGO) each have a slice of prospective ground in this booming WA gold province and cash is pouring into the region. Outside of the ASX, one of the biggest gold stories out of the Paterson Province is that of London-listed Greatland Gold’s (AIM: GGP) Havieron discovery, which...

DRILLING is underway at Galileo Mining Ltd.’s (ASX: GAL) Fraser Range Nickel Belt tenements, which are highly prospective for nickel-copper sulphide deposits similar to the operating Nova mine. Anticipation ahead of the drilling program has been building with the company’s share price gaining more than 50% in July alone: investor attention has tuned into the Fraser Range, along with Galileo’s highly prospective nickel targets. The commencement of Galileo’s drilling program is lining up nicely with nickel price forecasts. Research firm Wood Mackenzie anticipates nickel consumption in electric vehicle batteries to soar 64% by 2025 from 2019 levels. Supporting that view is Elon Musk’s call last week for a lift in the mining and production of nickel. Musk said Tesla will...

AFTER intersecting a new high grade gold lode at its Kat Gap Project, Western Australian gold exploration and development company, Classic Minerals Limited (ASX:CLZ) has shifted its focus to preparing the project for production. The Kat Gap Gold Project is part of the group’s Forrestania Gold Project (FGP), located about 50 kilometres to the south-east of FGP’s Lady Ada and Lady Magdalene, where the main thrust of exploration at the Forrestania belt has taken place to date. The recent major discovery at the 100% owned Kat Gap tenements saw Classic identify very significant high-grade gold intersections, making it the main focus of Classic’s exploration, which designated Kat Gap as its “flagship project”. The company recently completed a total of 21...

BLACKROCK is the latest investor firm to call it quits on thermal coal. In a letter to its clients, the world’s biggest fund manager stated that in response to clients’ concerns about the impact that sustainability factors were having on economic growth, asset values and financial markets, it would no longer invest in companies sourcing more than 25pc of revenue from thermal coal. It marks a 180 degree turn on its previous program of aggressively buying Australian coal stocks in 2019. In outlining its reasons for a new approach to sustainability, BlackRock stated “the most significant of these factors today relates to climate change”. “Namely, how the global transition to a low-carbon economy could affect a company’s long-term profitability. “The...