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S&P/ASX 200 marks fourth straight weekly advance despite headwinds

S&P/ASX 200 (INDEXASX:XJO) fell by 53 points or 0.96% to 5497 today following a number of headwinds including Fitch cutting Australias credit rating outlook to negative.

China did not set a GDP target this year for the first time ever and protests resumed in Hong Kong against Chinas attempt to impose National Security Law.

Despite todays loss, the ASX 200 still managed to gain 1.71% this week, making it its fourth straight weekly advance.

All sectors ended the day in the red. Although mining and energy stocks fell heavily today, they were standouts this week thanks to surging commodity prices.

The price of oil is up 30% this week, gold remains near eight-year highs and iron ore has surged 20% in a fortnight.

Top gainers[hhmc]
Todays top gainers on the ASX include MMJ Group Holdings Ltd (ASX:MMJ) (+17.39%), Matador Mining Ltd (ASX:MZZ) (+6.12%), Kazia Therapeutics Ltd (ASX:KZA) (+5.26%) Element 25 Ltd (ASX:E25) (+8.33%), De Grey Mining Limited (ASX:DEG) (+7.41%), Yandal Resources L..

S&P/ASX 200 (INDEXASX:XJO) fell by 53 points or 0.96% to 5497 today following a number of headwinds including Fitch cutting Australias credit rating outlook to negative.

China did not set a GDP target this year for the first time ever and protests resumed in Hong Kong against Chinas attempt to impose National Security Law.

Despite todays loss, the ASX 200 still managed to gain 1.71% this week, making it its fourth straight weekly advance.

All sectors ended the day in the red. Although mining and energy stocks fell heavily today, they were standouts this week thanks to surging commodity prices.

The price of oil is up 30% this week, gold remains near eight-year highs and iron ore has surged 20% in a fortnight.

Top gainers


Todays top gainers on the ASX include MMJ Group Holdings Ltd (ASX:MMJ) (+17.39%), Matador Mining Ltd (ASX:MZZ) (+6.12%), Kazia Therapeutics Ltd (ASX:KZA) (+5.26%) Element 25 Ltd (ASX:E25) (+8.33%), De Grey Mining Limited (ASX:DEG) (+7.41%), Yandal Resources Ltd (ASX:YRL) (+10.20%), Salt Lake Potash Ltd (ASX:SO4) (+13.68%), Titanium Sands Ltd (ASX:TSL) (+20.51%), Bryah Resources Ltd (ASX:BYH) (+38%) and Archer Materials Ltd (ASX:AXE) (+19%).

Proactive news headlines

Legend Mining confirms more nickel-copper sulphide diamond drill targets at Rockford Project


Legend Mining Limited (ASX:LEG) has confirmed further diamond drill targets for nickel-copper sulphide mineralisation at its Rockford Project in WA's Fraser Range through a combination of innovative moving and fixed loop electromagnetic (MLTEM & FLTEM). The surveys were over seven prospect areas – Northeast Mawson, Mawson Central, Worsley, Crean, Hurley, Magnus and Octagonal.

Core Lithium lands first European offtake deal for spodumene concentrate from Finniss


Core Lithium Ltd (ASX:CXO) has secured its first European offtake deal after signing a non-binding offtake term sheet with Transamine Trading for the supply of 50,000 tonnes per annum of spodumene concentrate from the Finniss Lithium Project near Darwin. This offtake comes in addition to Cores existing binding offtake agreement with Yahua for 75,000 tonnes per annum.

Bryah Resources surges on discovery of potential direct shipping grade manganese


Bryah Resources Ltd (ASX:BYH) has discovered a new high-grade manganese zone at the Bryah Basin joint venture project in central WA with the grades supporting a near-term direct shipping production strategy. A recent reverse circulation (RC) drilling program has intersected potential direct shipping grades of greater than 30% manganese at shallow depths at the Brumby Creek prospect.

Lithium Australia subsidiary Envirostream trials use of recycled battery products in fertilisers


Lithium Australia NLs (ASX:LIT) recycling divisRead More – Source

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Australia

Bardoc Gold takes major strides towards goal of becoming mid-tier gold producer

Bardoc Gold Limited (ASX:BDC) (FRA:4SF) has achieved or exceeded all of its targeted milestones and is taking further major strides towards its goal of becoming a mid-tier gold producer.

The company said the coming 12 months were set to be pivotal with multiple workstreams progressing to move the company towards first gold production by the end of the next calendar year.

“Pivotal period”[hhmc]
Despite the wild fluctuations in global markets and the onset of the COVID-19 pandemic, the pre-feasibility study has cemented the status of its flagship asset as one of the best-undeveloped gold projects in Australia.

Chairman Tony Leibowitz said: “This timeline suggests that the coming 12 months are set to be a pivotal period in Bardoc Golds development, with multiple workstreams progressing to move the company towards first gold production by the end of next calendar year.”

The company is in a very strong position with cash reserves of more than $35 million as it transitions from an explor..

Bardoc Gold Limited (ASX:BDC) (FRA:4SF) has achieved or exceeded all of its targeted milestones and is taking further major strides towards its goal of becoming a mid-tier gold producer.

The company said the coming 12 months were set to be pivotal with multiple workstreams progressing to move the company towards first gold production by the end of the next calendar year.

“Pivotal period”


Despite the wild fluctuations in global markets and the onset of the COVID-19 pandemic, the pre-feasibility study has cemented the status of its flagship asset as one of the best-undeveloped gold projects in Australia.

Chairman Tony Leibowitz said: “This timeline suggests that the coming 12 months are set to be a pivotal period in Bardoc Golds development, with multiple workstreams progressing to move the company towards first gold production by the end of next calendar year.”

The company is in a very strong position with cash reserves of more than $35 million as it transitions from an explorer to developer to producer.

Bardoc Gold recently successfully undertook a $24 million capital raising, and together with the $15 million capital raise in October 2019, has welcomed a number of Tier-1 institutional and strategic investors to its share register.

Leibowitz added: “I am pleased to say that Bardoc sits in the enviable position of having a large-scale, near-term gold development opportunity in a Tier-1 mining district, with a robust cash balance to support our ongoing growth and development initiatives.”

Bardoc Gold Project

As a result of the significant achievements of the past 12 months, Bardoc is on the cusp of completing a definitive feasibility study (DFS) on its namesake project north of Kalgoorlie, Western Australia, one of the few new gold projects of this scale anywhere in Australia.

It is also making a final investment decision on the more than 100,000-ounces per annum gold project.

The DFS is well underway and is targeted to be completed by the March 2021 quarter and the aim is to begin mining and construction in the September 2021 quarter.

Bardoc's 100%-owned project runs contiguously north for 50 kilometres in the Eastern Goldfields of Western Australia.

There are four main deposits and a multitude of smaller projects within the 247 square kilometres landholding, providing a large resource base and excellent exploration potential within the prolific Norseman-Wiluna greenstone belt and the junction of the Bardoc Tectonic Zone and the Black Flag Fault.

These two deep-seated crustal structures host many multi-million-ounce deposits, including the world-renowned Golden Mile in Kalgoorlie

Mineral resource update


Following the drilling and exploration programs and a number of strategic tenement acquisitions completed, the company has an updatedRead More – Source

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Australia

Argonaut Resources progresses copper exploration plans in Australia and Africa

Argonaut Resources NL (ASX:ARE) is primarily focusing on exploration of its copper projects in Australia and Africa in the near-term.

The companys Murdie and Torrens projects in South Australia have confirmed iron-oxide-copper-gold (IOCG) systems and are considered pedigree geology.

Argonaut also operates a portfolio of attractive copper licences within the Central African Copperbelt in north-western Zambia.

Murdie Project [hhmc]
At Murdie, Argonaut has identified more than 50 IOCG gravity targets across three domains, including onshore, nearshore and offshore plus flexible drilling options.

The priority targets are hosted in or on the margin of Donnington Suite Granite, which also hosts the nearby Oak Dam and Carrapateena IOCG deposits.

Permitting pending[hhmc]
Three authorisations are required for nearshore and offshore drilling at Murdie – Native Title permit (granted in 2018), operational permit (granted January 2020) and the Aboriginal heritage pemit which has completed the c..

Argonaut Resources NL (ASX:ARE) is primarily focusing on exploration of its copper projects in Australia and Africa in the near-term.

The companys Murdie and Torrens projects in South Australia have confirmed iron-oxide-copper-gold (IOCG) systems and are considered pedigree geology.

Argonaut also operates a portfolio of attractive copper licences within the Central African Copperbelt in north-western Zambia.

Murdie Project


At Murdie, Argonaut has identified more than 50 IOCG gravity targets across three domains, including onshore, nearshore and offshore plus flexible drilling options.

The priority targets are hosted in or on the margin of Donnington Suite Granite, which also hosts the nearby Oak Dam and Carrapateena IOCG deposits.

Permitting pending


Three authorisations are required for nearshore and offshore drilling at Murdie – Native Title permit (granted in 2018), operational permit (granted January 2020) and the Aboriginal heritage pemit which has completed the consultation phase and is under consideration.

Argonaut expects notification in the coming weeks regarding its final access permit prior to drilling five deep drill holes into large, prospective copper targets at Murdie.

The Murdie Project has more than 50 IOCG gravity targets across three exploration domains.

Torrens project


After a multi-year permitting process, Argonauts joint venture partner, Aeris Resources Ltd (ASX:AIS), unilaterally ceased drilling at Torrens in 2019 after two drill holes in an agreed eight to 10-hole program.

Argonaut is focused on sensible pathways to the recommencement of systematic drill testing of the Torrens anomaly under a pro-rata 30:70 joint venture (Argonaut 30%) and is confident that the prospectivity of the Torrens project remains intact.

The Eastern Gawler Craton has persistently rewarded explorers with large, high-grade copper discoveries and Argonaut believes the discovery of an IOCG deposit by a listed exploration company creates a once-in-alifetime opportunity for shareholders.

Lumwana West scoping study


Argonaut is conducting a scoping economic study into production from its Nyungu copper-cobalt deposit at Lumwana West in Zambia.

Flotation test-work has been completed and achieved high recovery from both transitional zone copper minerals (88% recovery) and primary zone copper sulphides (up to 96% recovery).

Saleable concentRead More – Source

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Australia

Core Lithium progresses approvals process for BP33 underground mine

Core Lithium Ltds (ASX:CXO) application for an Environmental Impact Assessment (EIA) for the proposed BP33 underground lithium mine is being progressed by the Northern Territory Environment Protection Authority (EPA).

NT EPA has advised Core that the environmental impact assessment for the underground mine within the Finniss project will be via a supplementary environmental report (SER).

The EPA made the decision under newly introduced environmental protection regulations and after making a thorough and extensive study of the companys Environmental Impact Statement (EIS) of its proposed mine and processing facility.

Strengthening production capabilities[hhmc]
Cores managing director Stephen Biggins said: “The newly re-elected NT Government is to be congratulated on hitting the ground running and meeting timeframes scheduled in the recently implemented EIA process, as well as setting the standard for diligent and timely future assessment.

“Extending our plans beyond the open pit ope..

Core Lithium Ltds (ASX:CXO) application for an Environmental Impact Assessment (EIA) for the proposed BP33 underground lithium mine is being progressed by the Northern Territory Environment Protection Authority (EPA).

NT EPA has advised Core that the environmental impact assessment for the underground mine within the Finniss project will be via a supplementary environmental report (SER).

The EPA made the decision under newly introduced environmental protection regulations and after making a thorough and extensive study of the companys Environmental Impact Statement (EIS) of its proposed mine and processing facility.

Strengthening production capabilities


Cores managing director Stephen Biggins said: “The newly re-elected NT Government is to be congratulated on hitting the ground running and meeting timeframes scheduled in the recently implemented EIA process, as well as setting the standard for diligent and timely future assessment.

“Extending our plans beyond the open pit operations at Grants will only strengthen Cores production capabilities and enable it to become a long-term and successful contributor to the Northern Territorys economy.

“Were serious about extending our lithium production from BP33 because we know the global demand for lithium for electric vehicles and renewable energy storage is there and building. “

Job creating project


Northern Territory chief minister Michael Gunner said: “The Territory Labor Government takes environmental protection seriously – smart environment policy is smart economic policy.

“We are making the Territory Australias comeback capital, and this job-creating project can be a key part of that.”

Biggins said: “When you couple the Finniss Lithium Projects potential with opportunities to plug into efficient energy sources, its proximity to Darwin Port and the quality of the Darwin suburban workforce, its goinRead More – Source

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