Stocks to Watch: April

THE Easter and ANZAC Day breaks in April leaves fewer days for miners to fit in all the expected news flow this month.
Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April

Staff reporter

Quarterly reporting season will kick off, weighted towards the end of the month.

Investors will be watching for COVID-19 impacts, particularly in Western Australia, which is experiencing peak case loads.

Westgold Resources already reported it had lost a total of 5328 working hours due to positive cases and isolation requirements.

UBS said absenteeism could impact iron ore, lithium, nickel, alumina and gold operations, though high commodity prices provided a buffer.

Aside from quarterlies, there are other announcements on the horizon.

Western Areas expects the independent experts report for its agreed $1.1 billion takeover by IGO to go out this month.

The deal was delayed to allow independent expert KPMG more time to consider the implications, if any, of recent LME nickel price volatility.

St Barbara is due to make a final investment decision on a sulphide expansion at its Simberi mine this  month, though RBC Capital Markets noted this week that the timeline could be a risk due to difficulties securing people in Papua New Guinea.

Liontown Resources is due to sign its first binding lithium offtake deal with LG Energy Solution this month after yesterday extending the date to finalise it to April 30.

The two signed a non-binding term sheet in January for up to 150,000 dry metric tonnes of spodumene per annum from the Kathleen Valley project.

Alkane Resources has confirmed the estimation of the maiden resource for its Boda gold-copper discovery in New South Wales is now underway after it reported the final round of results earlier this week.

"We estimate this resource could be in the order of circa 450 million tonnes at circa 0.65 grams per tonne gold equivalent, containing about 10 million ounces of gold equivalent," Bell Potter Securities analyst Bradley Watson said in late February.

A prefeasibility study for Aeon Metals' Walford Creek copper-cobalt project in Queensland is due this month, following a resource upgrade in March.

A scoping study for Xanadu Mines' Kharmagtai copper project in Mongolia due this month, focused on an open pit mine targeting the high-grade resource of 100 million tonnes at 0.8% copper equivalent.

Medallion Metals says a resource update for its Kundip mining centre in southern WA is "imminent".

Siren Gold announced in February it had appointed Entech to complete a maiden resource for its Alexander River gold project in New Zealand, due this month.

The company has continued to hit visible gold at the project since the announcement and yesterday reported 0.6m at 1460 grams per tonne gold and 2.5m at 358.2gpt gold.

Torian Resources will release a resource update for its 118,000 ounce Mt Stirling gold project in WA.

West African gold developer Bassari Resources will be delisted from the ASX on Monday. The company has been suspended for two years and was denied an extension by the ASX.

International Graphite, Lord Resources, Sarytogan Graphite, Osmond Resources, Narryer Metals, Sierra Nevada Gold, Sarama Resources, Firetail Resources, Lithium Plus Minerals, Koba Resources and Maronan Metals are all due to list.

Toronto-listed Sarama reported it had received applications in excess of $10 million for its $8 million initial public offering.