Stocks to Watch: January

WHILE many will be slow to get going in 2020, plenty of news is expected early on.
Stocks to Watch: January Stocks to Watch: January Stocks to Watch: January Stocks to Watch: January Stocks to Watch: January

Staff reporter

BHP welcomed a new CEO in Mike Henry yesterday, ushering in a new era, though analysts expect more of the same from the major.

Coming into quarterly reporting season, UBS expects a strong performance from the iron ore miners after Port Hedland data showed exports were up 10% year-on-year in November.

Exports from the four major producers totalled 69.9 million tonnes, equating to an annualised rate of 850Mt.

Macquarie is forecasting a strong finish to the year in iron ore for Rio Tinto, and expects 2019 production to come in at 323 million tonnes at unit costs of US$14.20 per tonne.

In gold, Northern Star Resources' acquisition of Newmont Goldcorp's 50% stake in the Super Pit should wrap up, putting the asset into Australian hands for the first time.

In offshore gold, shareholder votes for Kirkland Lake Gold's controversial C$4.9 billion takeover of Detour Gold will be held in Canada.

Still in Canada, Matador Mining is due to release an updated resource for its Cape Ray project in Newfoundland.

Expect more news from troubled miner Metals X as it updates the market on the details of strategic reviews of its assets and launches a capital raising.

Independence Group extended its takeover offer for Panoramic Resources last month until January 17.

IGO was granted due diligence access but is still assessing its position in relation to breaches of several defeating conditions of the offer.

Also in nickel, First Quantum Minerals' Ravensthorpe mine is expected to restart this month. It has been suspended since late 2017 due to weak nickel prices.

Lithium miner Pilbara Minerals is due to make a final investment decision on a more modest stage two expansion of its Pilgangoora mine.

Core Lithium expects to release assays for a "world-class" pegmatite intersection first reported last month for its Finniss project near Darwin.

The company said the 119m hit included 105m of strongly mineralised spodumene pegmatite outside the existing BP33 resource, which is expected to be upgraded shortly.

SolGold is due to release a prefeasibility study for its Cascabel project in Ecuador, which no doubt shareholders BHP and Newcrest Mining will look over closely.

Canterbury Resources is due to release a maiden resource for its Briggs copper porphyry project in Queensland.

Graphex Mining had been planning to release the DFS for its Chilalo project in Tanzania in December, but additional work meant it will now be released this month in the lead-up to mining events in Cape Town early next month.

Finally, Titanium Sands flagged the release of a scoping study for its Mannar Island project this month.

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