Rise and Shine: What you need to know before the ASX opens
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But first… to markets.
Gold: $US1,776.97 ($2,294.80) (-0.39%)
Silver: $US25.98 ($33.55) (-0.72%)
Oil (WTI): $US62.14 (+1.16%)
Oil (Brent): $US66.11 (+1.09%)
Coal: $US88.02 (-2.07%)
Iron 62pc Fe: $US176.96 (+0.35%)
AUD/USD: $US0.7738 (-0.13%)
Bitcoin: $US48,333.81 (-4.93%)
Sounded like popular WA Premier Mark McGowan did his latest press confo re the latest COVID-19 outbreak during the drags at Kwinana. Memes abound.
MCGOWAN PRESSER: Premier Mark McGowan has indicated that, in order to avoid constant interruptions, his next press update will take place at the Motorplex during a Whoop Ass Wednesday event. pic.twitter.com/QbDZmrsRKW
— The Worst Australian (@WorstAustralian) April 25, 2021
“It felt like I was in a post apocalyptic zombie world.” imkinda_adog
“That’s just the center of Australia bud.” StrongPangolin3
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Shares in Brockman skyrocketed this week after it reached a deal that will see its Ophthalmia iron ore project included in its joint venture with Mineral Resources (ASX:MIN).
The mining major plans to develop Marillana and Ophthalmia into an iron ore hub capable of producing at least 25 million tonnes of iron ore per annum for export.
To top it off, it has agreed to loan its partners with funding by way of a project loan sufficient to cover the forecast project capital costs for each development.
A big lead-zinc discovery at the Earaheedy project in Western Australia sent Rumble’s shares flying.
Drilling at the Chinook prospect hit visual lead-zinc with results topping up at 34m grading 4.22% zinc and lead from 66m, including a higher grade 14m ‘core’ grading 7.05% zinc and lead.
Shares in 25% project partner Zenith also nearly doubled this week on the news.
Green hydrogen is red hot – as oil and gas minnow Lion Energy found out after announcing its entry into the sector.
The company is raising $2.8m to explore opportunities in green hydrogen in Australia, as well as on Seram Island in Indonesia where it currently has oil interests.
After a mammoth 54,000m drilling program in 2020, it turns out the economics of a standalone operation at Middle Island’s ~750,000 Sandstone gold project in WA is “marginal” at $2,500/oz. Ouch.
Most gold operations have an all in sustaining cost between $1,200/oz and $US1,600/oz. Punters were unimpressed.
Middle Island blamed the decrease in gold price, exchange rate movements, and escalation in the cost of some capital items, personnel, contract mining and fuel since mid-2020 for the adverse impact on the economics.