CAPITAL MARKETS

Stocks to Watch: April

APRIL looks like it will be quite an interesting month for the ASX resources sector.

Stocks to Watch: April

There's plenty of M&A action happening with Newcrest Mining and Newmont Corporation in talks for a mammoth gold deal.

The market will also be hoping for more clarity on some of Newcrest's development projects, including Havieron in Western Australia, when it releases its quarterly results.

Albemarle Corporation is hoping takeover target Liontown Resources will engage after three rejected proposals and some on-market buying of shares.

While Wyloo Metals doesn't necessarily need its prey Mincor Resources to engage, its on-market offer is currently looking unlikely to succeed given Mincor shares continue to trade above the A$1.40 bid price.

The company declared its offer as best and final today with Mincor due to release a target's statement tomorrow.

One deal that is moving towards a resolution is BHP's $9.6 billion takeover of OZ Minerals with OZ shareholders set to vote on the deal on the 13th.

The likely buy-out of OZ will see Sandfire Resources become the only pure-play ASX 200 copper miner.

Meanwhile, new era will begin at Sandfire today with the arrival of new managing director Brendan Harris.

He joins the company at a pivotal time with commissioning of the new Motheo copper mine in Botswana to begin this month. Depending on the timing, first concentrate could also be produced this month.

Fortescue Metals Group is due to report first production from the US$3.9 billion Iron Bridge magnetite mine in the second half of the month after last week reporting weather delays.

Gold producer Evolution Mining will update its guidance due to a rain-related shutdown at Ernest Henry in Queensland, while Northern Star Resources should provide more information about a mechanical issue that has suspended its Pogo operation in Alaska.

Tietto Minerals has flagged the release of 2023 production and cost guidance late in the month, as well as an updated resource estimate for the Abujar project in Cote d'Ivoire

Musgrave Minerals originally planned to have the stage one prefeasibility study for its Cue gold project out by the end of March but delayed it by a few weeks to "ensure costings are accurately reflective of the current inflationary market conditions and due to an industry wide shortage of key technical personnel and premium consultants".

Green Technology Metals has a preliminary economic assessment due within weeks for the Seymour lithium project in Canada.

Mt Thirsty cobalt-nickel project partners Greenstone Resources and Conico confirmed today that an updated resource for the project is due this month, ahead of a cathode pre-cursor scoping study in July.

Lefroy Exploration is set to report a maiden resource for its Burns Central gold-copper discovery.

Days after reporting a big update to its Cummins Range rare earth project, RareX has a phosphate resource due late in the month.

Castle Minerals will report a maiden resource for its Kambale graphite project in Ghana.

There have been just five mining listings so far this year and Charters Towers gold explorer Ashby Mining is aiming to be the sixth with a provisional listing date of April 13.

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