Wednesday, 16 May 2012

Gold loses safe haven appeal (Wednesday, 16 May 2012) FOR a third straight month, investors are continuing to reduce their holdings in gold, opting instead to sink their funds into the US dollar as they seek haven from the ongoing European debt crisis. In early afternoon trade the spot price of the precious metal was down 0.6% or $US9.30 to $1534.80 an ounce, a movement mirrored in the share price performance of companies on the Final Call watch list. Full Story... Skills, economy worrying workers (Wednesday, 16 May 2012) GROWING skills shortages plus the widening gap in Australia’s two-speed economy are top concerns for a majority of workers employed in the mining, industrial and manufacturing sectors, a survey has revealed. Full Story... Moonlight shines bright (Wednesday, 16 May 2012) TRI-listed iron ore developer Ferrum Crescent has released a new JORC-compliant resource for the Moonlight deposit in the Limpopo province of South Africa, noting a jump in tonnages but a slight drop in grade. Full Story... Project delays weigh on GR (Wednesday, 16 May 2012) PERTH-based GR Engineering Services has blamed continuing project delays for its full-year revenue forecast being on the low side of expectations at $A150-155 million. Full Story... Rig utilisation on the up for Swick (Wednesday, 16 May 2012) SWICK Mining Services expects its fleet utilisation rate to reach 86% by the end of next month and its global underground diamond drilling rig fleet to hit 67 by December with the commissioning of six rigs. Full Story... Aphrodite grows resources at namesake play (Wednesday, 16 May 2012) GOLD junior Aphrodite Gold has updated resources on its namesake property in Western Australia, pushing a large portion of the potential open pit material into the higher confidence indicated category. Full Story... Paladin moves to resolve Kayelekera pay dispute (Wednesday, 16 May 2012) THERE is a good chance workers at Paladin Energy’s Kayelekera mine in northern Malawi will agree to drop demands for a 66% salary increase after the company moved to settle the dispute and restore full production at the mine. Full Story... Gold oversold: Foster (Wednesday, 16 May 2012) GOLD has fallen below $US1600 an ounce and continues to weaken but Foster Stockbroking says gold is oversold and has highlighted its top stock picks among producers. Full Story... Mining Briefs: Mineral Commodities, Carpentaria and more (Wednesday, 16 May 2012) A LOAN for Mineral Commodities, termination of a joint venture for Carpentaria, a government grant for Golden Cross, Germany beckons Proto and exploration updates for Horseshoe, Robust, Mining Group, Toro and Padbury are the Mining Briefs highlights. Full Story... Getting the mud to stick (where it’s needed) Exclusively for Premium Subscribers (Wednesday, 16 May 2012) IN THIS game Supply Side has seen his fair share of mud slung. Never slung any myself you understand. Would never do that. But there are times when getting the mud to stick where it is needed is vital. By Noel Dyson Full Story... Tiger lifts output at Kipoi plant (Wednesday, 16 May 2012) TIGER Resources continues to see impressive results from its Kipoi project in the Democratic Republic of Congo after producing 203 tonnes of copper concentrate in one day last week, 200% above the plant’s nameplate capacity. Full Story... Alacer ups cost guidance (Wednesday, 16 May 2012) LIKE the rest of the market, shares in Alacer Gold have taken a hit this morning, despite the company’s solid first quarter financial results, though its cash cost guidance for the full-year has been revised up. Full Story... GE offers $470M for Industrea (Wednesday, 16 May 2012) AMERICAN industrial giant General Electric is proposing to buy Industrea through a scheme of arrangement that values the Australian underground mining equipment manufacturer at $A470 million. Full Story... VDM bags $38M in new contracts (Wednesday, 16 May 2012) MINING and civil contractor VDM Group continues to strengthen its balance sheet after scoring a handful of contracts, including a $A15 million deal to undertake work at CITIC Pacific’s Sino Iron project in the Pilbara region of Western Australia. Full Story... Clancy increases Genesis bid (Wednesday, 16 May 2012) BASE and precious metals explorer Clancy Exploration has increased its script-based takeover bid for fellow junior Genesis Resources. Full Story... Economic traps PNG needs to avoid Exclusively for Premium Subscribers (Wednesday, 16 May 2012) ECONOMIST Matthew Morris offered some interesting tips yesterday to prevent Papua New Guinea falling into the economic cesspool that has enveloped resource-rich countries like Nigeria and Angola. Full Story... Mindax terminates Sumitomo deal (Wednesday, 16 May 2012) IRON ore hopeful Mindax has terminated a heads of agreement with Japan’s Sumitomo Corporation over its proposed Mount Forrest development in Western Australia’s Eastern Goldfields and claimed another scalp with the resignation of director Kenneth Petit. Full Story... Magma changes tune and accepts Panoramic bid (Wednesday, 16 May 2012) AFTER initial heavy resistance the directors of Magma Metals have accepted the revised $A40 million offer from Panoramic Resources, which managed to secure a 54.15% holding in its takeover target. Full Story... Rio moves to double apprentice personnel (Wednesday, 16 May 2012) RIO Tinto has unveiled plans to rapidly expand the size of its apprenticeship and trainee programs in a bid to help alleviate the growing skills shortage. Full Story... Geology Manager - Indonesia (Wednesday, 16 May 2012) Significant World-class Porphyry Project FIFO Australasia or In-country Based Idyllic Tropical Coastal Location Full Story... Primed for a top five copper spot (Wednesday, 16 May 2012) A MAIDEN resource in late 2011 led to this copper company attracting major support for its 70,000m drilling campaign and fast-tracked development program, all within just 18 months of listing. By Blake Wilshaw - RESOURCESTOCKS Full Story... News Wrap (Wednesday, 16 May 2012) IN THIS morning’s wrap: Treasury blasts budget attacks; WA future fund not universally backed; shipping laws prove bone of contention; and Irish workers flock to Australian mining industry. Full Story... European worries continue to drag down markets (Wednesday, 16 May 2012) WALL Street has again closed in the red as uncertainty continues in Europe, with Greece’s failure to form a government heightening worries about the stability of the nation’s banks. Full Story...

Tuesday, 15 May 2012

Shocker for miners (Tuesday, 15 May 2012) FOLLOWING negative offshore leads, the Australian market fell today amid a heavy sell-off of resource stocks. Full Story... Iron ore softening (Tuesday, 15 May 2012) THIS week the Metal Bulletin iron ore contract price has dropped below $US140 per tonne for the first time since March. The index was trading at $137.20/t today. Full Story... Executive Outcomes: BHP, Ivanhoe and more (Tuesday, 15 May 2012) MINING giant BHP Billiton has appointed former Sasol chief executive officer Pat Davies to its board as an independent non-executive director, effective from June 1. Full Story... Macquarie renews faith in Mount Gibson (Tuesday, 15 May 2012) FOLLOWING a string of downgrades due to management issues, Macquarie has upgraded iron ore producer Mount Gibson Iron after shares reached the analysts’ target price. Full Story... No surprises as resources save the day (Tuesday, 15 May 2012) THE Reserve Bank of Australia says it will not be surprised by mining-related employment accounting for half of the country’s workforce growth over the next few years. Full Story... Artemis swoops to acquire more projects (Tuesday, 15 May 2012) GOLD-focused explorer Artemis Resources has signed a deal to acquire a handful of projects prospective for gold, iron ore and base metals in the Pilbara, in a deal worth more than $A4 million. Full Story... First numbers for Charley Creek (Tuesday, 15 May 2012) JOINT venture partners Crossland Uranium Mines and Canada’s Pancontinental Uranium Corporation have defined an initial rare earth resource at the Charley Creek project in the Northern Territory. Full Story... Mining Briefs: Outback, Mintails, Azumah and more (Tuesday, 15 May 2012) A RENEWED sales deal for Outback, MinTails wraps up an acquisition, Azumah progresses the Wa project in Ghana, Buxton acquires an option on a graphite project, metallurgical progress for Silver Mines and exploration updates for UraniumSA and Minbos are the Mining Briefs highlights. Full Story... FMG outgunning Rio as iron ore punt Exclusively for Premium Subscribers (Tuesday, 15 May 2012) FORTESCUE Metals Group’s current Solomon expansion won’t see it match Rio Tinto on export volumes but the Pilbara upstart may already be topping its global rival as the market’s best iron ore punt. The Metal Detective by Stephen Bell Full Story... Mirabela chases $120M (Tuesday, 15 May 2012) MIRABELA Nickel has launched a $A120 million equity capital raising as its balance sheet and working capital comes under increasing pressure due to weakness in the nickel market. Full Story... Lycopodium flags jump in earnings (Tuesday, 15 May 2012) ENGINEERING and project management group Lycopodium has upgraded its revenue and after tax profit guidance for the 2011-12 financial year, with forecast revenue now expected to tip in at $A236 million. Full Story... Graphite takes centre stage for Talga Exclusively for Premium Subscribers (Tuesday, 15 May 2012) THANKS to the foresight of its managing director Mark Thompson, Talga Gold has put its foot on some of the highest grade graphite resources in the world for less than $US500,000 ($A501,000). Full Story... ABM scopes out $27M stand-alone option (Tuesday, 15 May 2012) WHILE the merits of a $A27 million stand-alone gold processing operation at ABM Resources’ Old Pirate open pit development in in the Northern Territory have been confirmed, the company still has a way to go before it can bank the project. Full Story... Matilda waltzing with Doral at Keysbrook (Tuesday, 15 May 2012) MATILDA Zircon has teamed up with Japan’s Doral to form an alliance to develop the Keysbrook mineral sands project in Western Australia. Full Story... Northern Iron says no to Aditya (Tuesday, 15 May 2012) TAKEOVER target Northern Iron has sent Indian group Aditya Birla back to the drawing board in the hope it may attract a higher offer than the $A477 million that was put on the table. Full Story... Golden Deeps gains foothold in Namibia (Tuesday, 15 May 2012) AUSTRALIA-focused gold explorer Golden Deeps is expanding its asset base after signing an agreement to acquire an 80% stake in a base metal and uranium project located in northern Namibia. Full Story... Predictive goes for gold in the Ivory Coast (Tuesday, 15 May 2012) PREDICTIVE Discovery has jumped on the opportunity to gather gold interests in the Ivory Coast, announcing it has entered into an agreement to acquire the Komboro project in the gold-bearing country. Full Story... Eyeing hot property in South America (Tuesday, 15 May 2012) AUSTRALIAN junior Condor Blanco Mines is making inroads into a part of the world that many juniors to date have overlooked. By Imelda Cotton - RESOURCESTOCKS* Full Story... News Wrap (Tuesday, 15 May 2012) IN THIS morning’s wrap: keep taxes stable or lose boom, says Ferguson; Palmer bats for Costello; Mineral Resources cashes in; and Incitec fertiliser business provides drag. Full Story... Greece and commodities set the tone (Tuesday, 15 May 2012) GREECE continues to be at the forefront of punters’ minds and a thorn in the side of global markets as uncertainty surrounds its possible exit from the euro area, while commodities have also taken a tumble. Full Story...

Monday, 14 May 2012

Resources weigh on market (Monday, 14 May 2012) THE Australian market opened the week slightly higher but was prevented from making further gains by weak performances from miners and oil and gas stocks. Full Story... Copper drops (Monday, 14 May 2012) COPPER was the weakest performer on the London Metal Exchange on Friday night, falling 1.3% to $US8103 per tonne. Most copper stocks were weaker today. Full Story... Mining Briefs: Phoenix, Discovery and more (Monday, 14 May 2012) IN TODAY’S Mining Briefs: new ground for YTC, Phoenix and Riedel, drilling results from PepinNini, Discovery, Silver City and Centaurus, a divestment for Birimian and a new name for Heritage. Full Story... Strike takes the cake at Kayelekera (Monday, 14 May 2012) AFRICAN uranium producer Paladin Energy has warned production at its Kayelekera mine in northern Malawi will suffer after the mine’s workforce walked off the site amid a pay dispute. Full Story... Merger proposal to give Health Corporation a new focus (Monday, 14 May 2012) SHARES in Health Corporation have increased 50% on news of a planned merger with an unlisted Australian company which will give it access to advanced gold exploration assets in Senegal. Full Story... Defence best form of attack (Monday, 14 May 2012) SKILLS shortages in the Australian resources sector could be alleviated by flying in reinforcements in the form of ex-servicemen from the British armed forces. Full Story... Project Director (Monday, 14 May 2012) Infrastructure Focus Perth Based Executive Salary & Benefits Package Full Story... Dryblower on the great conversion of BHP Billiton (Monday, 14 May 2012) NOT since the conversion of St Paul on the road to Damascus has Dryblower heard of a more dramatic transformation than BHP Billiton’s revelation that it is not so much a mining company as a business focused on shareholder returns. Full Story... The future of tin mining Exclusively for Premium Subscribers (Monday, 14 May 2012) GUEST columnist John Sykes, filling in for Allan Trench this week, recently presented a paper at the ITRI International Tin conference focusing on the “tin mine of the future”. Full Story... Get ahead, hunter Exclusively for Premium Subscribers (Monday, 14 May 2012) FINDING a skilled worker for a remote project is often not as simple as sticking the position up on Seek and hoping for the best. Retaining the talent that recruiters work so hard to obtain also requires strategic thinking. Brooke Showers explains Full Story... Metals X, Westgold unveil merger (Monday, 14 May 2012) GOLD developer Westgold Resources and its largest shareholder Metals X have agreed to a friendly, all-scrip merger which values Westgold at $A91.5 million, a 33.3% premium to its last closing price. Full Story... Altona awaits Xstrata option decision on Roseby (Monday, 14 May 2012) BASE metals miner Altona Mining must wait to see if Xstrata takes up an option to purchase 51% of the Roseby copper project in Queensland before it can finalise financing for its $A320 million Little Eva development. Full Story... FMG secures more expansion funds (Monday, 14 May 2012) FORTESCUE Metals Group has entered into a syndicated finance lease facility to provide additional funding options for the mining fleet needed for its $US8.4 billion ($A8.38 billion) Pilbara expansion. Full Story... Straits seals $30M capital raising (Monday, 14 May 2012) GOLD and copper producer Straits Resources has brushed off the failed sale of its Hillgrove antimony-gold mine in New South Wales, announcing it has raised $A30 million in an institutional share placement. Full Story... Decmil bags $137M in new work (Monday, 14 May 2012) CIVIL and building contractor Decmil Group has won a contract and variations to two others to the total value of $A137 million. Full Story... News Wrap (Monday, 14 May 2012) IN THIS morning’s wrap: mine tax revenue remains a mystery for another year; Liberals want tighter compliance rules for mine developers; BHP to focus on shareholder returns; and Haggarty takes aim at carbon tax. Full Story... Each way bet as caution reins (Monday, 14 May 2012) THE prospect of further Greek elections and news China is set to cut its bank reserve ratio has set a cautious tone for the start of the week. Full Story...

Friday, 11 May 2012

Quiet start for Bora Bora (Friday, 11 May 2012) ON A mostly negative day for resource stocks, newcomer Bora Bora Resources has finished its first day of trade in positive territory. Full Story... Another loss for stocks (Friday, 11 May 2012) DESPITE mostly positive leads overnight, markets in the Asia Pacific region dropped again today on weak Chinese economic data. Full Story... Gold keeps falling (Friday, 11 May 2012) DESPITE a rough week for markets, gold didn’t shine as a safe haven for investors, falling below $US1600 an ounce. Spot gold was trading at $1582.92/oz just after the Australian market closed today. Full Story... Alternate Underground Manager (Friday, 11 May 2012) Northern Star Resources Ltd is a successful gold producer and exploration company operating in highly prospective regions of the Ashburton and the Murchison, in Western Australia. Full Story... Executive Outcomes: BHP, Ivanhoe and more (Friday, 11 May 2012) BHP Billiton has appointed its minerals exploration president Ian Maxwell as energy coal president, taking over from Jimmy Wilson who moves into the role of iron ore president from July 1. Full Story... High Court rejects Torrens decision appeal (Friday, 11 May 2012) ARGONAUT Resources is hoping it can soon resolve heritage matters which have stymied work on its Torrens joint venture property in South Australia after the High Court rejected the state government’s application to appeal a Supreme Court finding. Full Story... Mining Briefs: Kidman, Endeavour and more (Friday, 11 May 2012) IN TODAY’S Mining Briefs: acquisitions for Kidman and Wavenet, and African gold results for Endeavour and AusQuest. Full Story... Palmer to sue SMH for $50M (Friday, 11 May 2012) MINING magnate Clive Palmer will seek damages of $A50 million from the Sydney Morning Herald after the paper reported Swiss energy trader Vitol had terminated a $40 billion coal supply contract for the proposed China First project in the Galilee Basin. Full Story... Cape Lambert bags another potential sale (Friday, 11 May 2012) TONY Sage-chaired Cape Lambert Resources has struck a deal with an unnamed party to sell its Leichhardt copper project in Queensland for $A25 million in cash. Full Story... Pike dead may never be recovered: Solid Energy (Friday, 11 May 2012) NEW Pike River mine owner Solid Energy has dashed hopes of early recovery of the bodies of the 29 miners who died there, confirming that recovering the bodies was conditional on a recommencement of mining. Full Story... Buy, Sell, Hold: MacPhersons and Hodges Exclusively for Premium Subscribers (Friday, 11 May 2012) NEWCOMER MacPhersons Resources gets a good plug while African coal explorer Hodges Resources has a promising outlook. Full Story... Honeymoon over for Mitsui (Friday, 11 May 2012) URANIUM One has announced its Japanese joint venture partner Mitsui will withdraw from the Honeymoon joint venture in South Australia. Full Story... Global Wrap: First Quantum, Vale and more Exclusively for Premium Subscribers (Friday, 11 May 2012) IN THIS week’s Global Wrap: power progress for First Quantum; first quarter results from Mandalay; Vale divests; and encouraging drill results from Sarama in Africa. Full Story... Quoll stars for Western Areas (Friday, 11 May 2012) NICKEL miner Western Areas has upgraded its production guidance for 2011-12 after an exceptional performance from the Spotted Quoll mine in Western Australia. Full Story... Capital Watch: ActivEX, UCL, Kasbah and more (Friday, 11 May 2012) IN TODAY’S Capital Watch: ActivEX and UCL get new cornerstone investors, IFC exercises its options in Kasbah, Gold Anomaly receives support from a US-based institutional investor, and a rights issue and placements for Midwinter, Gascoyne, Greenvale, Redstone, White Rock, Aussie Q and Exalt. Full Story... Results provide scope of more ore for Crocodile (Friday, 11 May 2012) ONLY days after releasing a solid first quarter result, Toronto-listed Crocodile Gold Corporation has encountered high-grade gold hits from drilling at two deposits within its Union Reefs property in the Northern Territory. Full Story... Shaft development to double Ernest Henry volumes (Friday, 11 May 2012) WORK has started on a hoisting shaft at Xstrata Copper’s Ernest Henry copper-gold-magnetite mine in North West Queensland as part of a $A589 million program to extend underground operations at the site to 2024. Full Story... AngloGold commits funds for growth (Friday, 11 May 2012) SOUTH African major AngloGold Ashanti has approved an investment of $US1.9 billion ($A1.88 billion) for three major growth projects to boost annual production by around half a million ounces of gold. Full Story... Mining Manager (Friday, 11 May 2012) “Glencore’s” wholly owned CSA Mine is a high-grade underground copper mine located in Cobar, Central Western NSW.” Employing over 350 people, CSA Mine is operated by Cobar Management Pty Ltd (CMPL). Full Story... Feasibility Study Manager - Mindax Limited (Friday, 11 May 2012) New Iron Ore Producer Perth Based Opportunity for an Outstanding Individual Career Advancement Potential Full Story... Chief Executive Officer - Mindax Limited (Friday, 11 May 2012) Take this Company from Exploration to Production Perth Based Leadership Role, with Board Reporting Attractive Salary Package with Equity on Offer Full Story... Galvanising a compelling profile (Friday, 11 May 2012) NEAR-term cash flow, a market moving towards deficit, attractive diversification potential and a team experienced in commodities trading encapsulate this project developer. By Susan Bower - RESOURCESTOCKS* Full Story... News Wrap (Friday, 11 May 2012) IN THIS morning’s wrap: mining tax litigation fears; miners set to fall off supercycle; red tape strangling resources; Japan looking to restart reactors. Full Story... Flat Friday (Friday, 11 May 2012) POSITIVE offshore leads despite a $US2 billion ($A2 billion) loss by America’s largest bank JP Morgan which failed to drag down sentiment on Wall Street and a solid performance from European markets, buoyed on hopes for a Greek coalition, should signal a flat start for the local market. Full Story...

Thursday, 10 May 2012

Xanadu expands Mongolian footprint (Thursday, 10 May 2012) MONGOLIAN explorer Xanadu Mines has signed a proposal to acquire the Oyut Ulaan copper-gold project, formerly owned by Ivanhoe Mines before it turned its full attention to the massive Oyu Tolgoi project. Full Story... Market defies weak offshore leads (Thursday, 10 May 2012) THE local market has shrugged off negative sentiment from Wall Street, helped along by the miners, to move into the black. Full Story... Westgold, Metals X halted (Thursday, 10 May 2012) THERE may be something brewing between Westgold Resources and its major shareholder Metals X after both companies entered a trading halt this afternoon over a corporate transaction. Full Story... Greens call for reassessment of Wagerup expansion (Thursday, 10 May 2012) THE Greens have been quick to respond to news US metals giant Alcoa has been granted a five-year extension to expand its Wagerup alumina refinery in Western Australia by calling for the decision to be re-assessed. Full Story... Copper bucks six-day trend (Thursday, 10 May 2012) COPPER for three-month delivery has climbed for the first time in six days on speculation the domestic surplus of China, the world’s largest user, may be shrinking. The price of the base metal rebounded in afternoon trade in Singapore to reach $8054 a tonne, a gain of 0.3% or $24. Full Story... Maiden shipment for Noble at Bibiani (Thursday, 10 May 2012) GOLD miner Noble Mineral Resources has wasted no time since receiving its bullion export licence last Friday, completing a maiden shipment of 2412 ounces of gold from its Bibiani operation in Ghana. Full Story... Brierty bags $55M civil contract with Rio (Thursday, 10 May 2012) CIVIL and mining contractor Brierty has landed a contract worth more than $A55 million for the construction of residential housing lots in the Pilbara town of Wickham for Rio Tinto. Full Story... Mining Briefs: OZ, Sirius, Enterprise and more (Thursday, 10 May 2012) APART from the finalisation of a sale for OZ Minerals, drilling is the order of the day in Mining Briefs with updates for Sirius, Enterprise, Convergent and Ramelius. Full Story... Chief Operating Officer (Thursday, 10 May 2012) Key Leadership Role $600M Joint Venture Project in West Africa Competitive Salary Package with Residential and FIFO options Full Story... Today, fear eases. Tomorrow, who knows? Exclusively for Premium Subscribers (Thursday, 10 May 2012) FORGET about selling in May and going away. And forget about doing nothing – it probably won‘t work either. The Outcrop by Robin Bromby. Full Story... Australia’s image suffering: Rio (Thursday, 10 May 2012) RIO Tinto chairman Jan du Plessis says the company’s perspective on Australia as an attractive investment destination has changed over the past couple of years as it becomes a more expensive place to operate due to the mining and carbon taxes, the high Australian dollar and rising costs. Full Story... Kagara workforce slashed (Thursday, 10 May 2012) THE voluntary administrators of Kagara have made 216 of the company’s staff redundant since taking control eight days ago. Full Story... Challenges remain: Rio (Thursday, 10 May 2012) WHILE acknowledging ongoing global volatility, Rio Tinto chairman Jan du Plessis says the company’s economic outlook is more positive than it was six months ago. Full Story... A titanic task (Thursday, 10 May 2012) IN little more than five years Atlas Iron has gone from a gold stock to an iron ore player in one of the toughest iron ore regions in the world. By Noel Dyson Full Story... Higher prices deliver $8M profit to Mineral Deposits (Thursday, 10 May 2012) HEAVY mineral sands producer Mineral Deposits has reported a net profit after tax of $US8 ($A7.9 million) for the first quarter, thanks to higher titanium slag prices. Full Story... Glencore posts solid performance (Thursday, 10 May 2012) AS THE clock ticks down to July shareholder meetings to approve the $A84 billion merger between commodities trader Glencore and Xstrata – the largest tie-up deal in the mining game since 2007 – Glencore has posted a strong first quarter performance. Full Story...

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