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In this daily HotCopper Trends column, we break down the top Oz stocks through each trading day.
PFE | Strategic land acquisition expands Corona gold footprint
Pantera Minerals (ASX: PFE) was popular with HotCopper followers after its strategic acquisition of licence E28/3634, which is contiguous with the Corona gold project and 10km north of BPM Minerals’ Bonnie & Clyde & Beachcomber prospect.
Pantera’s consolidated Corona position is now 731 sq. km.
The company will apply ultra-fine fraction (UFF) soil sampling, which has been used effectively on adjoining ground to target gold beneath 15 to 30m of paleochannel cover, followed by RC drilling of any anomalies. UFF sampling across the enlarged Corona position is being planned now.
“We had the chance to add ground directly northeast of that discovery in the same corridor. We now hold a significant position along the Yellow Dam trend between BPM’s discoveries and our own eight-kilometre bedrock anomaly,” EC and CEO, Barnaby Egerton-Warburton, said.
GED | High-grade copper, silver and zinc results fail to lift shares
Golden Deeps (ASX: GED) was down despite reports of new high-grade copper, silver and zinc rockchip sampling results from its South Ridge prospect in Namibia.
The new results are from 132 new rockchip samples collected from the South Ridge prospect. High-grade copper-silver-zinc mineralisation is associated with hydrothermal breccia-matrix and disseminated copper, silver, zinc and lead mineralisation occurring along a one km northeast trending corridor and 400m wide zone defined by highly anomalous soil sampling results.
“South Ridge is our second ‘Tsumeb-type’ prospect identified, after Graceland, and shows extensive zones of breccia and disseminated copper-silver and zinc mineralisation in altered and veined dolomite over one km strike-length and across an up to 400m wide zone,” CEO, Jon Dugdale, said.
“Trenching and channel sampling is planned across the broad zones of mineralisation, and we look forward to drill- testing below the most strongly mineralised zones.”
LIN | 30,000-tonne monazite offtake deal lifts Lindian shares
Lindian Resources (ASX: LIN) rose after it reached a 30,000 tonne binding monazite concentrate offtake agreement.
The agreement was signed by the company’s wholly-owned subsidiary in Singapore, Lindian Global Rare Earths, with a major rare earths refining group.
The binding offtake of monazite concentrate from the company’s flagship Kangankunde rare earths project incorporates both stage one volumes for 10,000 dry metric tonnes (dmt) and stage two for 20,000 dmt per annum.
Together with the previously announced offtake agreements with Iluka Resources in Australia, and Carester in France, Lindian has now developed a diversified global customer base, with 45,000 dmt having also been secured for stage two
“This binding term sheet represents another significant milestone for Lindian, with Kangankunde stage one concentrate capacity now fully allocated between our offtake partners and our own SARECO MREC facility, and with over 45,000 dmt of Stage 2 volumes procured,” EC, Robert Martin, said.
ASX 200 | rallies as oil refining industry faces a structural shake-up
Looking wider, the S&P/ASX 200 was up today, gaining 106.50 points or 1.18% to 9,136.20. Over the last five days, the index has gained 2.81% and is currently 1.73% off of its 52-week high.
Elsewhere, an estimated one in five of the world’s oil refineries faces increasing risk of closure as global oil demand peaks and enters structural decline within the next decade, according to new research published by Wood Mackenzie.
For the refining industry, the firm says, hope is not a strategy.
Global refined product demand stands at 105 million barrels per day. Wood Mackenzie forecasts a rise to 108 mb/d by 2032, after which decline sets in. Roughly 20% of existing global capacity sits on what the report terms a “downward escalator,” facing falling or negative operating net cash margins and increasing risk of closure.
Demand peaks in 2032, but with 2040 only three to four refinery turnaround cycles away, the window for major investment decisions is closing. Despite this, some refinery investments will continue in locations such as India, driven by domestic demand growth and energy self-reliance policy, though it remains capacity added locally into a global market in structural decline.
That’s Tuesday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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