Looks like finally the world market demand for Zircon is starting to be noticed. From Robin Bromby's report in the Australian today. Hopefully we will be hearing some news on IMA's plans to capitalise on these high prices....
Zircon was under $US400 a tonne 10 years ago; now contracts are being signed at up to $US1100/tonne (with some spot sales rumoured at $US1300) while industry forecasts are for $US1500 by 2015. That will almost certainly prove to be conservative.
Iluka Resources (ILU) hit a 52-week high on Friday, closing at $8.58. In January, you could buy the stock for $3.38. Ditto Gunson Resources (GUN), -- it also hit a 52-week high on its Friday close at 23c, against just 5.6c only four months ago.
However, those companies that are still in the exploration phase have languished. Image Resources (IMA) closed at 43c compared to a year high of $1.14, while the 6.8c on Friday for Diatreme Resources (DRX) is a long way from 13.5c last December. Any signs that either is getting a wriggle-on should prove a tonic for their prices. There's also Matilda Zircon (MZI), which doesn't seem to have attracted much investor interest, and early-stage explorer Australia Minerals & Mining Group (AKA).
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