Surely we couldn’t see a US$5,000 gold price by the end of the month? Odds getting lower by the day…
Across Markets…
The Australian sharemarket fell for a third session on Wednesday, tracking sharp losses on Wall Street as US President Donald Trump’s latest push to take over Greenland rippled through financial markets.
The S&P/ASX 200 index fell 0.4 per cent, or by 33 points, to 8782.90, with eight of the 11 index sectors in the red. Stocks tracked a more than 2 per cent drop for the S&P 500 and the Nasdaq after Trump threatened to slap tariffs on several European nations.
The US dollar also fell while the 30-year US bond yield climbed toward 5 per cent amid concerns Trump’s threats could escalate into a full-blown trade war if Europe does not agree with his push to buy Greenland.
Betashares chief economist David Bassanese said markets tend to have a “sell first, ask questions later” mentality when it comes to Trump’s policies.
“Whether this sell-off is sustained ultimately depends on when and if Trump eventually backs down,” he said. “An escalation in US-Europe trade restrictions is an obvious risk to global economic growth and would likely see the current market sell-off get worse before it can get better.”
On the ASX, the local tech sector lost more than 2 per cent. WiseTech Global fell 2.4 per cent to $62.02, and Xero 5.2 per cent to $98.90. Netflix’s results in after-hours trading on Wall Street didn’t help sentiment. The shares fell 5 per cent despite its quarterly numbers coming in better than expected.
Banks took another leg lower as Commonwealth Bank dropped 2.2 per cent to $147.20, ANZ 2.1 per cent to $36.17, National Australia Bank 1.6 per cent to $41.18 and Westpac also by 1.2 per cent to $38.11.
Materials, meanwhile, saw broad gains as BHP rose 1.5 per cent to $48.48, putting its market capitalisation around $1 billion behind CBA’s as the two titans battle to be the bourse’s largest company.
Newmont rose 5 per cent to $180.80 as gold crossed $US4800 an ounce for the first time. Evolution Mining soared 9.5 per cent to $14.79 and Westgold by 9.6 per cent to $7.53, after both gold miners also registered record December quarter results.
Source: AFR
Ordell Minerals Reports Bonanza Gold Hit from Infill Drilling at McNabs East Target
Ordell Minerals (ASX: ORD) has reported a bonanza gold grade of 182.32 grams per tonne from infill drilling at the McNabs East target within its flagship Barimaia project in Western Australia.
The company completed the 58-hole reverse circulation campaign for 4,775 metres on the western side of the prospect last year across 400m of strike to a maximum vertical depth of 90m.
The advanced Barimaia project is located in WA’s Murchison region nearby to several gold processing plants and adjacent to the Mt Magnet mill owned by Ramelius Resources (ASX: RMS).
Ordell acquired its 80.3% interest in the project from Genesis Minerals (ASX: GMD) in mid-2024, which is now a major shareholder of Ordell with 6.5% equity.
Strong Mineralised Zones
The first 18 holes intersected strong zones of mineralisation, with best results of 2m at 92.2g/t gold from 60m including 1m at 182.32g/t from 61m, and 15m at 4.41g/t gold from 65m including 2m at 26.6g/t from 76m.
Other highlights were 18m at 1.05g/t gold from 79m including 9m at 1.66g/t from 86m, 9m at 1.49g/t gold from 99m, and 8m at 1.67g/t gold from 68m.
Diamond drilling of one hole returned 5.45m at 1.25g/t gold from 240.5m to end of hole, located 90m down-dip of strong mineralisation intersected in a previous hole.
Ordell expects to recommence drilling at Barimaia in February, targeting immediate extensions to McNabs East while aiming to unlock potential new discoveries along the more than 7 kilometres of strike.
High-Grade Assays
Managing director Michael Fowler said the high-grade assays were a positive start to the new year.
“We are very pleased to start the year by announcing some excellent high-grade results from the first part of our program at McNabs East,” he said.
“Our drilling has confirmed a robust zone of shallow gold mineralisation which dips moderately to the south and comes to within 10m of surface, and we expect to follow this up with the targeting of extensions to known mineralisation and new discoveries along strike and down the interpreted plunge to the east.”
The company is targeting new discoveries of a similar style to Ramelius’ Eridanus deposit within its Mount Magnet gold mining operations which hosts a mineral resource estimate of 24 million tonnes at 1.7g/t gold for 1.3 million ounces contained gold.
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Today’s Price Change: $0.014 +7.69%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.225 -2.17%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Today’s Price Change: $0.044 +7.32%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Today’s Price Change: $0.037 +2.78%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.060 +9.09%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Today’s Price Change: $0.003 Unchanged
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Today’s Price Change: $0.029 +7.41%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Today’s Price Change: $18.17 +0.66%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Today’s Price Change: $0.53 +1.92%
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Today’s Price Change: $0.021 Unchanged
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Today’s Price Change: $0.026 Unchanged
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Today’s Price Change: $0.110 -4.35%
Sector: Cybersecurity & AI
Deal Type: Placement
Raise Amount: $1.7M
Latest Entry Price: $0.01 with 1:3 option $0.02 strike
Today’s Price Change: $0.009 +12.5%
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Today’s Price Change: $0.050 -3.85%
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