Tag: silver

TMZ acquires Australia’s highest grade undeveloped silver asset

TMZ acquires Australia’s highest grade undeveloped silver asset

The prices of precious metals (gold and silver) have experienced slight pull back in recent months. For many, particularly leveraged early stage stocks, this suggests a likely return to form in the early months of 2021. This is especially true for silver stocks, as analysts believe the price of silver is poised to run hot next year. According to Kitco analyst Peter Hug, once industrial demand picks up, more tailwinds for silver will push the metal closer to the $35 to $40 an ounce range next year. Thomson Resources (ASX:TMZ) could be positioned to capitalise on this precious metal resurgence, with an existing gold portfolio and the pending acquisition of two silver assets. Thomson is a NSW focused explorer, set…

Freight fast track

Freight fast track

THE Queensland Government has promised half a billion dollars for the development of a new freight terminal at the Port of Townsville and discounted freight charges to boost exports along the Mount Isa rail line. Deputy Premier and Treasurer Jackie Trad said the funding would promote mining and exploration in the state’s North West, which contains about 75pc of Queensland’s base metal and minerals, including copper, lead, zinc, silver, gold and phosphate deposits. “Our state’s economy is stronger when we have a reliable supply of minerals for export,” Ms Trad said. “A number of mines are trucking minerals from the North West to the port, and the trains that are carrying minerals in shipping containers have to be unloaded at Stuart…

South32 buys $110m Arizona Mining stake

South32 buys $110m Arizona Mining stake

The Hermosa zinc-lead-silver project. Image: Arizona Mining. BY CAMERON DRUMMOND SOUTH32 will pay $C110 million ($107m) for a 15 per cent stake in Canadian multi-commodity miner Arizona Mining. Under the agreement, South32 will acquire 45,000,000 Arizona Mining shares at $C2.45 per share. South32 also has the right to nominate a director to the board of Arizona Mining providing it maintains a minimum 12.5 per cent interest. Arizona Mining is focused on its Hermosa zinc-lead-silver project, which includes the Taylor deposit, located in Santa Cruz County, Arizona. South32 chief executive Graham Kerr said Hermosa was a highly prospective project and was another step in the company’s strategy to identify opportunities outside of its current portfolio. “We look…

Deloitte sees commodities boost for WA miners

Deloitte sees commodities boost for WA miners

By Cameron Drummond WA companies are prospering off a commodity rebound, with Fortescue Metals Group (FMG), Pilbara Minerals (PLS) and Resolute Mining among a group recording market cap increases. The Deloitte WA Index rose in April with the market capitalisation of WA-listed companies increasing by 9 per cent to $136.2 billion. Deloitte Clients & Markets Partner WA Tim Richards said the index’s performance was boosted by the month’s strong commodity prices. “April’s result, which follows a 5.9 per cent rise in March, was primarily driven by crude oil reaching its highest price in 2016 and iron ore climbing to US$64.50 per tonne at the end of the month,” Mr Richards said. “This spurred on investors, as demonstrated by the market…