Headline performance of miners since 2016 has been sterling. The ASX100 Resources and Small Resources have both posted strong gains, with capital returns of 2x from both Indices in 3.5 years. Even so, aggregated performance of large cap, operating miners masks a two-speed market for miners. There are almost 600... Show More
One of the latest "listings" on the ASX is First Au (ASX:FAU), which is the result of the June 2018 reinstatement of Public Holdings (Australia) Ltd following the aquisition of three Western Australian exploration projects and a A$6.2 million raise. Show More
Recent times have seen a number of porphyry copper-gold gold discoveries by junior to mid-tier explorers, with the most advanced being Xanadu (ASX: XAM, TSX: XAM) with their Kharmagtai and associated discoveries in Mongolia, and Solgold (LSE: SOLG, TSX: SOLG) with the Cascabel Project in Ecuador. In addition, Sunstone Metals... Show More
The recent listing of QEM Limited is well timed to capitalise on the resurgence of interest in vanadium, with V2O5 prices rising 6-fold to ~US30/lb since the US$/5lb lows of 2016,(which possibly points towards a structural change in the market over the longer term. Show More
Protean Energy's strategy is to build a vertically integrated vanadium business, with the upstream including the 490 Mlb V2O5/18.4 Mlb U3O8 Daejon Vanadium-Uranium Deposit in South Korea, and with downstream activities concentrating on the commercialisation of the proprietary V-KOR vanadium redox flow battery stack technology and the development of a... Show More
Recent times have seen the price of vanadium pentoxide reach close to US$30/lb, six times its sub-US$5.00/lb lows of 2016, due to supply/demand imbalances which have led to inventories being steadily drawn down since 2010. A significant cause is disruptions in supply, particularly in China, with closure of iron ore... Show More
Recent times have seen Australia surpass Chile as the world's largest lithium producer, with production expected to continue to grow through ramping up of existing hard rock spodumene operations and new start-ups. This has been on the back of a number of recent discoveries, including the Pilgangoora deposits of Pilbara... Show More
Subsequent to our August 2018 Initiation, Middle Island has made significant progress at it's 537,000oz Sandstone Gold Project in WA. The Company is taking a staged, iterative approach to activities related to the strategy of restarting operations through the existing mill. Show More
Spitfire Materials and Excelsior Gold, which have entered into a Merger Implementation Agreement, are a natural fit, with the key gold projects of the companies being less than 20km from each other, and close to the regional mining powerhouse of Kalgoorlie. The merger will bring in operational synergies, with the... Show More
Over the past quarter, much of the small-cap index outperformance over large caps has been due to the excellent returns of small resource companies. Given their cyclical nature, is that a reason to look elsewhere? The following note makes it clear that we think not. Show More
