Stocks to Watch: March

WITH profits season behind us, the attention turns to ticking off March quarter milestones.
Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March Stocks to Watch: March

Staff reporter

If market disclosures are anything to go by, March is set to be another busy month in the mining sector.

IGO has guided towards a decision on its coveted 30% stake in the Tropicana gold mine in Western Australia this month.

The mine's 70% owner and manager AngloGold Ashanti has a pre-emptive right over IGO's stake but said last week it would wait to see the outcome of the bidding process, of which several ASX-listed gold companies are likely to have been involved.

Also in deals, the merger between Dacian Gold and NTM Gold will be put to a vote this week and is expected to be finalised later in the month.

Newcrest Mining is set to report the first JORC resource for its Red Chris mine in British Columbia.

The company showed its confidence in the project last month by approving a C$135 million decline.

St Barbara is getting close to board sign-off on the Simberi sulphide expansion in Papua New Guinea, while Red 5 should be edging towards financing for its King of the Hills development in WA.

Bardoc Gold will release the definitive feasibility study for its namesake gold project near Kalgoorlie, ahead of a planned final investment decision in the September quarter.

Genesis Minerals is on track to upgrade the 1.28 million ounce resource for its Ulysses gold project in WA.

The updated resource will underpin a feasibility study, due in the June quarter.

Calidus Resources is set to release a scoping study for its newly acquired Blue Spec deposit, which could improve the economics of its Warrawoona gold project, under construction in the Pilbara.

Alkane Resources is due to put some numbers on its Tomingley Extension project in New South Wales.

Black Cat Syndicate, which today announced it had secured an option to acquire milling equipment, has told the market it is targeting the upgrade of its 905,000oz gold resource to more than 1Moz this month, as well as reporting maiden ore reserves to underpin a mine life of more than three years.

Outside gold, Element 25 is set to join the production ranks this month, with the first ore scheduled to be processed at the Butcherbird manganese project near Newman.

Fresh from raising $100 million last week, Hastings Technology Metals will upgrade the resource for its Yangibana project ahead of early construction works.

The scoping study for Centaurus Metals' Jaguar nickel project is due this month.

Xanadu Mines has flagged the release of drilling a resource and exploration target update for its Kharmagtai project in Mongolia, as well as drilling results from Red Mountain.

New listings on the ASX are also set to pick up again.

One of the largest resources floats in recent years, DDH1 Drilling, will hit the boards this month after a $150 million initial public offering.

Pantoro's Norseman joint venture partner Tulla Resources is set to list mid-month after opening an underwritten $78.3 million IPO last week.

Medallion Metals will list this month after its underwritten $12.5 million IPO closed on Friday after only three days.

R3D Resources also reported today that it had closed its IPO early.

Other companies expected to list are Firebird Metals, Cosmo Gold, Juno Minerals, Peregrine Gold, Genmin, TechGen Metals, Bastion Minerals and Metal Tiger, the latter of which was supposed to dual-list last month.