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West Australian explorer Cassini Resources has opened up a potential pathway to commercialise its very large West Musgrave nickel and copper project through its recently finalised farm-in deal with mid-tier miner OZ Minerals, broker Hartleys suggests.

The start of mechanised underground mining marks the refocusing of mining efforts by Australian miner A1 Consolidated to maximise grades at its namesake gold mine in Victoria.
Overall, the company is targeting an initial production rate of over 25,000ozpa of gold at all-in-sustaining costs of under $A985/oz over the next 12 months.
Australian broker Patersons said the costs forecast suggested a potential margin of $700-800/oz and EBITDA of over $20Mpa over the 2-1/2 year mine life.

With final rehabilitation and upgrades to its 100%-owned MAX mill on budget for completion in the December quarter, starting with a 10,000t bulk sample sourced from its nearby 100%-owned Willa gold/copper/silver deposit, Canadian junior MX Gold is poised for upside revaluation as its inherent value and accomplishments are appreciated by the market.
The company is currently advancing its Max mill and Willa gold mine near Revelstoke in British Columbia toward becoming Canada's newest gold mining operation.

Australian-based Birimian has been rated a speculative buy on the basis of the potential for a very large spodumene (lithium) development at its Bougouni project in Mali, Australian broker Hartleys reported. 
Bougouni comprises some 250sq km licence area that hosts the high-grade, potential bulk-tonnage Goulamina lithium deposit.
A maiden JORC-compliant resource is expected in October and Hartleys sees potential for a very large deposit at good grades (1.6-1.8% Li2O) on limited drilling to date.

The gathering momentum of West Australian explorer Gascoyne Resources’ exploration campaign at its 80%-owned Dalgaranga gold project in the Murchison region prompts Argonaut to maintain its speculative buy recommendation with its target price raised to $A0.65 (current price $0.50), from $0.53 previously.
Recent results at Gilbeys confirm the tenor (width and grade) of the orebody and first reverse circulation results at Hendricks, 3km east of the Gilbeys openpit, demonstrate the potential for a satellite deposit.

Australian-based Danakali has been given a "buy" recommendation with a $A0.50 price target, compared to its current share price of $0.31, in the initial research coverage of the company by broker Baillieu Holst.

A 3,000m drilling program beginning on the highly prospective Newman zinc project at the northern margin of the Capricorn Orogen in central Western Australia holds the key to the market judgment of Perth-based base metals explorer Marindi Metals.
Marindi acquired 100% of the project in mid-2015 from former joint venture partner Prairie Mining, when it chose to focus on its Lublin coal project in Poland.

The potential to add carbon-in-leach processing and increase production or mine life at the Tanlouka gold project in Burkina Faso has prompted broker Hartleys to revisit its price target for West African Resources.
The broker has lifted its 12-month target for the Australian-based explorer to $A0.16cps from 12cps previously.
Hartleys said the Tanlouka project offered a low-capex, high-margin heap leach starter project following the game-changing M1 discovery at Tanlouka.

After posting above-guidance production of 27,793oz in the December 2015 quarter, Ramelius Resources is well positioned for the coming quarters with the Vivien project now coming into production.
The company has once again boosted its guidance for the full year to 110,000oz at all-in sustaining costs of $A1,150/oz (from 104,000oz at $1,200/oz previously), and broker Taylor Collison sees that trend continuing.
The situation prompted Taylor Collison to retain a "buy" recommendation, raising its price target by 7.7% to 42c.

Having the world's second largest hard-rock lithium deposit at its Pilgangoora project in Western Australia's Pilbara region ranks Pilbara Minerals above other emerging producers in size, grade and costs.
Foster Stockbroking has initiated research coverage on Pilbara Minerals with a buy recommendation, at a 12-month price target of $A0.47 per share.
The target is based on Pilgangoora being further de-risked in 12 months due to progress on a definitive feasibility study, financing and permitting.


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