Key News Overnight: The Federal Reserve will lower interest rates by 25 basis points at each of the U.S. central bank’s three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll that found only nine of 101 expected a half-percentage-point cut next week. In this issue: Paladin Energy (PDN)Read more
PDN has announced that Fission Uranium Corp. (TSX:FCU, Not Covered) shareholders have voted to approve the proposed combination of companies. Of votes cast at the FCU Special Meeting, 67.9% were in favour of the transaction, just exceeding the 66.66% required threshold. Our PDN company model assumes full completion of the Fission deal and construction ofRead more
BOE’s recent production update suggests ramp-up of its 100% owned Honeymoon uranium project is progressing well. The operation is expected to produce 0.85 Mlbs of U3O8 in FY25. Crucially, the first Ion Exchange extraction column has reached nameplate capacity. The second and third columns should be complete by the end of CY2024. Having been aRead more
The Havana underground has been approved, which will see an additional 55koz over 3 years (RRL share) produced at only a modest level of capex. We have already included Havana Underground in our base case forecasts, which sees production lift from an average of 133koz (FY24-26) to 148koz (FY27-29). There also remains ongoing underground potentialRead more
Key News Overnight: Wall Street’s three major indexes gained more than 1% on Monday as investors looked for bargains after the previous week’s sell-off while they also waited for inflation reports in coming days and the Federal Reserve’s next policy decision next week. In this issue: Regis Resources (RRL) – Havana Underground approved | BUY |Read more
Key News Overnight: Looming interest rate cuts may not immediately spur a rush out of cash-like instruments, as yields on some shorter-dated government bonds could take months to fall below those on longer-term debt, analysts at JPMorgan said. In this issue: First Take – Bellevue Gold (BGL) | Tribune Decline commences | HOLD | Analyst | HaydenRead more
Key News Overnight: Looming interest rate cuts may not immediately spur a rush out of cash-like instruments, as yields on some shorter-dated government bonds could take months to fall below those on longer-term debt, analysts at JPMorgan said. In this issue: Gold Miners and Developers | Growth and cash flow drive preferences | Hayden Bairstow |Read more
Gold prices have surged to record levels rising 22% in the year to date. The recent weakness in global equity markets has impacted gold equities and we see significant value emerging across the sector. We retain a positive view on gold equities, with our preferences driven by companies with the ability to deliver strong organicRead more
Pacgold’s Alice River Project in northern Queensland has seen a delay to its 2024 drilling season after the resignation of its managing director in June. PGO have appointed Mathew Boyes as the new managing director, commencing this month. PGO are targeting a return to drilling activities at Alice River in Q3 2024. We maintain ourRead more
OAU is making steady progress on its Crown Prince development targeting first production towards the middle of next year. Once in production we expect a Crown Prince to be high margin open pit operation with a ~2 year mine-life. Opportunities are there to extend the mine life further with some encouraging exploration results recently reported.Read more
