3 Junior Miners On The Rise

  • Sep 21, 2018 AEST
  • Team Kalkine
3 Junior Miners On The Rise

Orocobre Limited

Major progress in Nyanzaga Gold Project: Orocobre Limited’s (ASX: ORE) stock rose over 7% on 21 September, 2018 with improved market sentiments and a positive FY18 update. The group made a good progress at the Nyanzaga Gold Project (Nyanzaga or Project) in northwest Tanzania with main achievements being receiving Environmental Certificate (EC) for the Project and has applied for a Special Mining Licence (SML). The SML application is currently progressing through the newly established Mining Commission and it is anticipated that we may see the grant of the licence in the coming months. The firm recently reported that they reached commercial terms with its joint venture (JV) partner, Acacia Mining plc (Acacia), to acquire a 100% interest in the Project. The firm sees this as a major step forward in simplifying the ownership structure ahead of the grant of the SML, where they could welcome the Government of Tanzania (GoT) as a shareholder of the Project. The acquisition was approved by the Tanzanian Fair Competition Commission (FCC) in early September 2018.

Miners

Faster cut off at Nyanzaga Gold Project (Source: Company reports)

Lynas Corporation Limited

Controlling costs: Lynas Corporation Ltd.’s (ASX: LYC) stock rose over 2.4% on 21 September, 2018 as they achieved first net profit after tax in the Rare Earth industry during FY18 of $53.1 million. The cash flows from operating activities rose to $118.5 million in FY18 from $34.0 million in FY17. Lynas achieved record total sales revenue after commissions of $374.1 million in FY18 from $257.0 million in FY17. Production of Neodymium-Praseodymium (NdPr) was 5,444 tonnes in FY18 from 5,223 tonnes in FY17. The overall production of rare earth oxide (REO) in FY18 was 17,753 tonnes from 16,003 tonnes in FY17. The Lynas NEXT project would enable the company to enhance output, expanding the product range and enhance production efficiency. Lynas NEXT is on track to deliver a rise in production capacity to 600 tonnes of NdPr per month from the January quarter of 2019.  The Rare Earths market settings boosted in FY18 while the positive market dynamics were driven by solid global demand for Rare Earth materials. The principal amount of their loan facilities were cut to US$165.2 million at June 30, 2018, which is a decrease from US$425 million at June 30, 2017. 

Saracen Mineral Holdings Limited

Better than expected production: With better gold process, Saracen Mineral Holdings Limited’s (ASX: SAR) stock rose over 5.3% on 21 September 2018. The group’s Gold production for FY2018 was better than expected producing over 316,000oz from their two operations, Carosue Dam and Thunderbox. This output also exceeded market guidance and the group achieved this at a low All-In-Sustaining-Cost (“AISC”) of $1,139/oz. SAR has a decent Cash and equivalents of over $118m at year end, despite a $71.8m investment in growth capital and exploration during the year. More 73,532oz of gold was contained in closing stockpiles at year end, which is a 29% rise against the prior corresponding period.

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