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>>> That Was The Week That Was … In Australia

17 Aug 2014

>>> by Our Man in Oz


Minews. Good morning Australia. Your market seems to have performed quite well last week.

Oz. It did, but it was very much a case of what seems to be the new normal: one step back and then one step forward without really getting anywhere.

Minews. You mean it’s rather boring.

Oz. That’s a bit strong, but when you look at the overall trend it is hardly inspiring. Take the ASX metals and mining index which went up last week by 1.9 per cent. That’s the good news, but it did little more than cancel out the one per cent fall in the previous week.

Looked at over a longer time period it gets flatter. Since the start of 2014 the metals and mining index has moved all the way up from 3,381 points to last week’s close of 3,403, a most unspectacular rise of 22 points, or 0.65 per cent.

Minews. Your point is made. Let’s find something more interesting than index-watching by looking for stocks which stood out from the crowd last week.

Oz. There were a few specials which outperformed in one way or the other.

Robust Resources (ROL), which has an assortment of exploration projects in Indonesia and the Kyrgyz Republic, rocketed up by A15.5 cents (53.5 per cent) to A44.5 cents after announcing that it had received a takeover offer priced at A49 cents, with the gap between the indicative bid and the closing price a sign that the market has doubts about the proposed deal.

Xanadu Mines (XAM), which went to Mongolia to look for coal, delivered a fresh set of encouraging copper and gold assays from its Kharmagtai exploration project, including 312 metres grading 0.5% copper and 0.4 grams of gold a tonne starting at a depth of 274 metres. That news lifted the stock by A3.5 cents (41 per cent) to A12 cents, though it did touch a 12-month high of A14 cents on Tuesday.

Crusader Resources (CAS) attracted interest in its mix of iron ore and gold projects in Brazil, adding A9.5 cents (26.7 per cent) to A45 cents.

Valence Industries (VXL), one of the local emerging graphite stocks was another to hit a 12-month high after announcing a fresh sales agreement for material from its Uley project in South Australia. After peaking at A55 cents in early Friday trade it closed at A53 cents for gain over the week of A8 cents (17.7 per cent).

Atrum Coal (ATU), reported successful ship-loader trials for its Groundhog anthracite project in Canada, news which lifted the stock by A18 cents (12 per cent) to A$1.64.

KGL Resources (KGL) reported fresh high-grade copper and gold assays from its Jervois project in the Northern Territory, news which initially lifted the stock by A8 cents to A42 cents before late selling knocked it back to a close of A36.5 cents, reducing the week’s rise to a more modest A2.5 cents (seven per cent).

Berkeley (BKY), one of the Australian stocks looking for uranium in Spain, went for a ride on the higher uranium price, adding A4.5 cents (15 per cent) on Friday to close the week at A34.5 cents

Minews. It’s time to look at the sectors, starting with uranium for a change, because last week’s rise of US$1.25 a pound in the uranium price to US$30 per pound was encouraging.

Oz. It was, but the reaction among the U-stocks was modest, Berkeley aside. Some of the more interesting price changes included: Greenland (GGG), up A1.5 cents to A12.5 cents, Bannerman (BMN), up half-a-cent to A7.5 cents, Paladin (PDN), up A2 cents to A39 cents, and Energy and Metals (EMA), up two-tenths of a cent to A6.5 cents. That latest move means EMA has doubled since February.

Minews. There is obviously growing interesting in EMA. Let’s get a move on and call the rest of the card with gold stocks next, followed by the base metals, please.

Oz. The trend in the gold sector was mixed, trending down. Moves included: Northern Star (NST), down A3 cents to A$1.81, Papillon (PIR), also down A3 cents to A$1.81, Perseus (PRU), up A1.5 cents to A46.5 cents, St Barbara (SBM), down half-a-cent to A11 cents, and Kingsrose (KRM), down A2.5 cents to A51 cents.

KGL, mentioned earlier, was one of the better copper stocks in a week of mixed trading. Other copper moves included: OZ Minerals (OZL), down A20 cents to A$4.27, Hot Chili (HCH), up A4 cents to A27.5 cents, Stavely (SVY), down A6 cents to A54 cents, and Rex (RXM), up A2 cents to A31 cents.

Nickel stocks were a little firmer, as were zinc stocks. Nickel moves included: Panoramic (PAN), up A1.5 cents to A87 cents, Western Areas (WSA), up A4 cents to A$4.86, and Sirius (SIR), up A13 cents to A$3.97. Zinc moves included: Ironbark (IBG), up A1 cent to A11.5 cents, Aurelia (AMI), up A3.5 cents to A42 cents, and KBL (KBL), up A1.7 cents to A6.6 cents.

Minews. Iron ore next, please, followed by graphite.

Oz. After Crusader’s sharp rise, mentioned earlier, the iron ore sector was mixed, trending down. BC Iron (BCI) fell by A17 cents to A$3.14 after announcing a share-swap takeover of Iron Ore Holdings (IOH) which in turn rocketed up by A38 cents (40 per cent) to A$1.33. Fortescue (FMG) slipped A5 cents lower to A$4.51, while Atlas (AGO) added A5 cents to A70 cents.

Valence, mentioned earlier, was the best of the graphite stocks. The rest of the sector was quiet. Syrah (SYR) put on A3 cents to A$5.08, and Talga (TLG) added A2 cents to A35.5 cents.

Minews. Coal and minor metals to close, thanks.

Oz. Atrum was the coal mover of the week. Most other coal stocks barely moved. New Hope (NHC) lost A5 cents to A$2.88, and Prairie Downs (PDZ) was A2 cents weaker at A40 cents.

Vanadium hopeful TNG (TNG) was the pick of the minor metals with a rise of A5 cents to A25.5 cents. Wolf (WLF), another tungsten specialist lost half-a-cent to A29.5 cents.

Rare earth stocks firmed. Lynas (LYS) added A1 cent to A15.5 cents, and titanium stocks weakened, with Base (BSE), down half-a-cent to A28.5 cents.

Minews. Thanks Oz.
***************

Source >>> www.minesite.com
 
That Was The Week That Was … In Australia

24 Aug 2014

>>> by Our Man in Oz

Minews. Good morning Australia, your market seems to have been hit hard by the sell-off in BHP Billiton shares.

Oz. That was undoubtedly the big event of the week with a 3.5 per cent fall in the value of the world’s biggest mining company a major drag on the rest of the Australian market.

Not surprisingly, the metals and mining index lost 2.2 per cent over the course of the week with the fall in BHP Billiton shares offset by reasonable rises across the rest of the mining sector.

The all ordinaries index managed a 1.5 per cent rise thanks to strong profit results and even stronger dividends while the ASX gold index slipped 2 per cent lower thanks to the weaker price of the metal.

Minews. Sticking with BHP Billiton for a little longer, is the plan to split seen as a positive proposal by Australian investors?

Oz. Perhaps is the only answer to that question with the creation of a new business out of the aluminium, manganese, nickel and some coal assets a welcome addition to the mining sector.

What will be most interesting to watch is whether the spin-off can match, or perhaps even outperform the parent, which should be possible at different stages of the commodity price cycle.
...

>>> Source >>> www.minesite.com
 
That Was The Week That Was ... In Australia

7 Sep 2014

>>> by Our Man in Oz <<<


Minews. Good morning Australia, or should that be good morning Africa after a week at the African Down Under conference?

Oz. A bit of both really, with an influx of Africans bringing a splash of light to an otherwise sombre Perth, which is even more sombre this morning as it battens down for stormy change to the weather.

Minews. Your stock market also seems to have had its own storms with iron ore and gold prices in retreat.

Oz. It has been tough going for investors, which is why the Africa Down Under conference was a welcome break.

Attendance at the event was down about 10 per cent on last year, though at 1,800 delegates it is not far behind the Australian conference leader, Diggers and Dealers.

In a way, both events have their own magic which is linked to the location. Diggers because it is the only global mining talkfest held in a genuine mining city, with working mines all around, and Africa Down Under because it pulls together two different cultures which have a common aim, mining, and a lot to offer each other.

Minews. Good to hear that it was a success, but let’s get down to business and talk about the market.

Oz. If you insist, though there isn’t much good news to share around. The ASX mining and metals lost three per cent and the gold index was down by seven per cent.

Gold and iron ore stocks were hit hardest thanks to the falls in their underlying commodity.

The odd item of positive news could be found, if you looked hard enough.

Minews. We’ll get to the bad news later but first let’s hear whatever you’ve got to brighten our day.

Oz. Uranium stocks had a reasonable week after months of decline thanks to another US$1 per pound rise in the uranium price. And some nickel stocks did well, along with a smattering of minor metal explorers.

Most uranium rises were modest, though a stand-out success was Toro (TOE) which jumped by A2.7 cents (42 per cent) to A9.1 cents as the company’s chief executive, Vanessa Guthrie, joined a high-powered Australian Government trade mission to India, which is an emerging market for Australian uranium. At one stage on Friday Toro touched a 12-month share price high of A9.5 cents.
...

Source >>> www.minesite.com <<<
 
Leaders of Thai rubber farmers threaten protests as prices slide
Sep 10, 2014

>>> By Apornrath Phoonphongphiphat <<<

More than 10,000 rubber farmers in Thailand, based mostly in the south, are preparing to launch protests against the government and demand it announce measures to help them counter a slump in prices to five-year lows, farmers' leaders said on Wednesday.
...




http://www.reuters.com/article/2014/09/10/thailand-rubber-protests-idUSL3N0RB2RQ20140910
 

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