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05/01/16
21:04
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Yes the Australian. For some reason I can see it fine, and I don't have a subscription to the newspaper. Here's a little more, but I'll refrain from posting the full article:
Sharing the mining pain
We are not alone: almost every economy dependent upon commodity exports is in some sort of trouble, some in more dire straits than others.
Perhaps one of the less considered global economic problems is not so much the commodity bust itself, but the synchronous effects of that bust on so many economies, large and small (and piling more global woes on top of Europe’s malaise and China’s slowdown).
Australia, Canada, Russia and Brazil are just a few of the economies that have borne the brunt, ameliorated to some degree by currency devaluations but serious nevertheless. That’s a fair chunk of the global economy to be in strife.
....[article gives many examples of impact and in various countries, and finishes by naming a few Aussie companies that were pushing against the headwinds, among them being Axiom]....
Plugging away
But our juniors plugged on even over the Christmas break.
Metalicity (MCT) saw a good share price jump on the applications for West Australian ground prospective for lithium, tantalum and tin. The ground is 5km from the advanced lithium project owned by Pilbara Minerals (PLS) and is adjacent to the large Wodgina tantalum mine.
Denis Wood is clearly confident about the Jervois copper-silver project in the Northern Territory. As chairman of KGL Resources (KGL) he is underwriting a $3 million entitlement offer, which will bring the junior’s bank balance up to $4.4m. Of that, $2.8m will be spent on exploration, $300,000 on project development and $1.3m used for working capital.
Gold in 2015 had its third straight losing year, the worst performance since 2000, finishing at $US1062.87 an ounce. This does not appear to disconcert Excelsior Gold (EXG) . On Thursday it said it was putting on a second mining fleet at the Kalgoorlie North gold project in order to increase ore production. The company has its ore toll-treated at the Paddington mill owned by now Chinese-owned and delisted Norton Gold Fields; the latter asked for the expansion to keep the mill operating efficiently.
And Axiom Mining (AVQ) is upbeat about its Isabel nickel project in Solomon Islands, saying it has defined sufficient resources to support the first five years of mining. CEO Ryan Mount says there is still demand in the Pacific region for good quality laterite ore.
No investment advice is implied and investors should seek professional guidance. The writer does not own shares in any company mentioned." [Quote/]
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