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Aug 2003 - DnD - LHG, SGX, JBM

SWITCH from LHG to SGX, and JBM too?

  • I attended Diggers ‘n Dealers in Kalgoorlie last week and visited IGO’s Long Nickel mine afterwards (see separate report). I thought that there were a number of signs that we are entering into a resources boom. Unfortunately time restricts me from elaborating in great detail, and so mainly oneline comments have been made. However, the main conclusions based on the presentations, were : (in alphabetical order)
  • SWITCH : LHG to SGX, and possibly JBM partly to LIM or IGO/MCR.
  • BUY : IGO, OXR
  • ACCUMULATE : LIM, NCM, SGW, One’s to watch :
  • APO : on the old SGW tenements at Laverton
  • AUZ : revitalising the old Blair nickel mine which is actually not flooded to surface.
  • GTR : maybe, looked interesting but I have never visited Tennant Creek.
  • And amongst the Major Offshore Golds (South African and North American) : (that I liked)
  • Gold Fields, Anglogold and Harmony. Commodities :
  • Gold : Both Newmont and Gold Fields were projecting higher prices to US$400/oz and beyond.
  • Zinc : Kagara presented a paper showing that the Zinc market appears to have bottomed. Zinc prices are often regarded as highly leveraged because they are coming off such a low base.
  • Written by: Keith Goode
  • Monday, 11 August 2003