Stocks to Watch: March

NO ONE really knows what will happen this month, but it should be busy regardless.
Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March

Image: iStock/scyther5

Staff reporter

Uncertainty is gripping global markets due to the spread of COVID-19, with the news dominating headlines to the extent that Turkey's declaration of war on Syria was barely noticed.

Friday's global equity sell-off combined with a record low Chinese manufacturing PMI reading has prompted Westpac to bring forward its forecast of an Australian interest rate cut to March from April.

"We now expect the RBA to cut the cash rate by 0.25% to 0.5% at tomorrow's meeting. That is likely to be followed up by a second cut to 0.25% at the April board meeting," Westpac chief economist Bill Evans said.

Westpac is also forecasting US interest rate cuts this month and next.

Given the Australian dollar is sitting below US65c, Westpac has adjusted its near-term forecast down by 2c to 63c.

While markets will likely remain volatile, there's still lots of news expected in mining this month.

Mincor Resources is set to report a maiden reserve, the results of a restart study and likely a final investment decision for its Kambalda nickel operations.

The definitive feasibility study for ioneer's Rhyolite Ridge lithium-boron project in Nevada is also due, as is the DFS for AVZ Minerals' Manono lithium project in the Democratic Republic of Congo.

Canada's Copper Mountain Mining is updating the bankable feasibility study for the Eva copper project in Queensland.

Bardoc Gold has flagged the release of a prefeasibility study for its namesake Western Australian gold project, while Matador Mining is aiming to complete a scoping study for its Cape Ray gold project in Newfoundland.

Alkane Resources should report a maiden resource for its San Antonio resource in New South Wales, as the market also awaits news about its Boda discovery.

Buzz gold stock De Grey Mining has flagged a resource update incorporating all drilling at its Mallina gold project up until the end of 2019, but not yet for the exciting Hemi discovery.

Oro Verde has flagged the release of a maiden resource for its Makuutu rare earths project.

Evolution Mining is set to close the acquisition of Newmont's Red Lake mine in Canada.

Altura Mining has been suspended from trading since mid-January while it tries to refinance.

Despite reporting positive progress last month, today it requested an extra week to finalise negotiations.

Dacian Gold will also remain suspended all month as it works on a recapitalisation, which is likely to include a circa-$60 million capital raising at a heavy discount.

March is also busy on the conference front, kicking off this week with the big one, PDAC in Toronto.

The Paydirt Battery Minerals Conference was due to start Wednesday but was postponed due to travel restrictions associated with coronavirus.

Minerals Investment Week will be held in Perth later this month, incorporating iron ore and mineral sands events.

The inaugural Mining Journal Select Sydney event will be held in Sydney on March 23-24, featuring outlook panels and presentations from developers that meet the criteria set by Mining Journal and MiningNews.net.

Presenting companies to date are Hot Chili, Black Rock Mining, Australian Vanadium, Canyon Resources, Triton Minerals, Cardinal Resources, Myanmar Metals, Australian Mines, Reward Minerals and VRX Silica.