Metals & Mining fell about 1.8%, with the drop headlined for the wrong reasons by diversified miners (down about 2.5%), and for the right reasons by the gold sub-sector (up 1.8%).

All the stock standard concerns remain, meaning there’s very little that can be added to the bleak little story that essentially comprises the terrible twins of uncertainty in China and oversupply of commodities.

For those sick of the doom and gloom, an analyst report late last week by the Goldman Sachs team could be views positively.

The report said that while commodity prices will have to fall further to ensure the production cuts needed to end the oversupply afflicting most commodity markets, the “birth of a new bull market” will ensue.

One of the best performers for the day was mineral sands hopeful World Titanium Resources, which saw its shares more than doubled in value to end the day at more or less the same price offered by a private equity fund out of Luxembourg that was already a substantial shareholder.

WTR rebuffed a bid from junior mineral sands miner Base Resources about 12 months ago, and while the private equity (PE) fund involved in this bid is already a 20% shareholder, it will be interesting to see if this latest raider can do any better.

Given the serious experience of the WTR board in the mineral sands space and the less than critical cash position of the junior, there might be a few betting PE won’t be the proud new owner of an undeveloped project in Madagascar any time soon.

Presumably though, there’s a bit more to this than meets the eye.

[amcsv id="206839" type="stock"]