WA Gold Royalties – Really dumb idea

Hedley Widdup

...but that’s what we expect from politicians. Mineral royalties are a well-established mechanism to provide a risk-free financial reward to the ultimate owners of minerals – ie the nation or the state in which a mineral is produced. This is fair – minerals are non-replaceable and therefore compensation is warranted.... Show More

A new resources cycle has started

Hedley Widdup

I believe a new multi-year resource cycle has started, and that the evolution of this cycle has been remarkably rapid compared with other cycles. Investor sentiment towards miners switched in early 2016 from ‘off’ to ‘on’. This has happened at the turning point from bust to boom in every other... Show More

Mining - the liquidity tap is back on.

Hedley Widdup

Sentiment toward miners flipped in early 2016: having seen capitulation in 2015, from January this year investors have been moving back to mining, tempted by recovering metal prices (especially in gold), miners collective new regime of financial and cost discipline, and a lack of growth opportunities across the broader market.... Show More

Risk Money - Rotating back to Mining

Hedley Widdup

Performance of gold equities has been outstanding in 2016. Increasing liquidity supports this trend, the Mining IPO market which was closed for several years has now re-opened. There have already been more mining IPO’s in 2016 than 2015, and several prospective IPO’s have been announced to the market, so there... Show More

Miners have turned in 2016, led by Gold Miners

Hedley Widdup

The financial year 2015/2016 was a tale of two halves: July to December 2015, miners were capitulating. January to June 2016, miners not only turned but put on a strong positive performance. This was led by gold equities, which were up 86.6% in the second half alone, and then there... Show More

The Mining Boom has Started

Hedley Widdup

2016 has seen sustained capital growth in mining equities, and as a result Resources have outperformed Industrials by a substantial amount since January. More significantly, junior miners, many non-producers, have been able to raise meaningful amounts of money over roughly the same period. The size and regularity of raisings for... Show More

Miners at a turning point

Hedley Widdup

After five long years of share price weakness, the first quarter of 2016 has seen a reversal in investor sentiment towards miners – having only recently been regarded as “risky” and “irresponsible”, this perception has changed to “rational” and “cheap”. The switch has been marked by a short and aggressive... Show More

Follow the Majors ?

Hedley Widdup

Whenever I bump into mining acquaintances at conferences, events, even in the street, the conversation usually starts with "how are you ?". I am getting tired of hearing "I'm good, market is still crap though...". I'm beginning to think people are just so used to saying this that it's become... Show More

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