Top News

Panoramic Signs Sales Agreement for Savannah Project

Panoramic Resources’ Savannah project has been on care and maintenance for almost two years, but a new concentrate sales agreement could fuel the asset’s revival.

A new four-year concentrate sales agreement has been set up between Panoramic Resources (ASX:PAN) and Sino Nickel, with the product set to come from Panoramic’s Savannah nickel-coppercobalt project in Western Australia.

The agreement is between Savannah Nickel Mines, a subsidiary of Panoramic, and Sino Nickel, a joint venture between Jinchuan Group (HKEX:2362) (60 percent) and Sino Mining International (40 percent).

The four-year contract replaces a concentrate sales agreement previously signed in 2010 that was to expire in March 2020. It is set to start upon the first shipment of concentrate from the recommissioned Savannah project, or on March 31, 2019, depending on which comes first.

The product to be shipped through the agreement is sulfide concentrate, with the agreement outlining a typical specification of 8 percent nickel, 4.5 percent copper, 0.6 percent cobalt and 46 percent iron.

The concentrate is to be produced from the Savannah and Savannah North orebodies, and Panoramic says the agreement is an “important condition precedent” to revitalizing the Savannah project.

The company elaborated by saying that finalizing debt financing is the last obstacle before the project’s revival can be decided. According to the company, negotiations with potential financiers are moving smoothly, and Panoramic should soon have an update on the project.

The Savannah project, located in the Kimberley region of Western Australia, was Panoramic’s flagship project when the company formed in 2001. It was commissioned in 2004, but was later placed on care and maintenance in May 2016 due to low nickel prices. Panoramic is moving towards restarting operations at the site now that nickel prices have greatly improved.

Total mineral resources for the project as of August 2016 consisted of 226,400 tonnes of nickel, 104,700 tonnes of copper and 15,300 tonnes of cobalt metal contained.

Panoramic’s share price had jumped 11.7 percent by the end of Friday’s (June 29) trading session, ending the day on the ASX with a share price of AU$0.62.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Featured

Perth, Australia – Classic Minerals Limited has made significant progress at Kat Gap during the quarter as it strives to become a gold producer. Highlights of the quarter include: – Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap. – Advancing engineering, mining and metallurgical studies at Kat Gap, and – IGO have made …

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

read more Show less

Perth, Australia – Classic Minerals Limited is pleased to announce that, in accordance with the terms of its Earn In and Joint Venture Agreement with IGO Newsearch Pty Ltd, a wholly-owned subsidiary of IGO Limited IGO has notified Classic of: its election to acquire a 51% interest in the Company’s Fraser Range tenements having earnt that interest by spending $1,500,000 on exploration of the Tenements; and its …

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) (the Company or Classic) is pleased to announce that, in accordance with the terms of its Earn In and Joint Venture Agreement (Agreement) with IGO Newsearch Pty Ltd, a wholly-owned subsidiary of IGO Limited (ASX:IGO) (together, IGO) (CLZ announcement to ASX dated 17 June 2019 refers), IGO has notified Classic of:

(a) its election to acquire a 51% interest in the Company’s Fraser Range tenements (Tenements), having earnt that interest by spending $1,500,000 on exploration of the Tenements; and

(b) its intention to spend a further $1,000,000 exploring the Tenements over the next 2 years to take its joint venture interest to 70%.

read more Show less

The mining and resources sector now sets its sights on Australia’s largest mining investment forum, Mines and Money @ IMARC, co-located with IMARC from January 31, 2022, to February 2, 2022, at the Melbourne Showgrounds.

It was gold price, lithium demand and China’s appetite for copper that dominated much of the discussion at Mines and Money Online Connect @ IMARC this week at the virtual event running from the 19th to the 21st October.

Mines and Money Online Connect saw 90 mining companies, 600+ investors and more than 2,000 participants log-on to hear mining executives and analysts discuss the next big thing for savvy investors in 2022.

read more Show less
Person looking at credit card while making a purchase on their phone

A subsection of the booming fintech sector, innovative payment services are experiencing a hay day.

Paytech is just what it sounds like — technology for payments. In Australia, changes to open banking laws plus the need for contactless payments through the global pandemic has meant a major uptake in paytech services.

There are more than 1 million Aussies shopping online each month as different parts of the nation continue to be under COVID-related lockdowns and stay at home orders.


A subsection of the booming fintech sector, innovative payment services are experiencing a hay day. Paytech options are everywhere, with examples like mobile, peer-to-peer, cryptocurrency payments and international payments.

5 Biggest ASX Paytech Stocks

The Investing News Network looked at the biggest paytech stocks on TradingView sorted by Market cap. Data for this list was obtained on September 30, 2021.

1. Afterpay (ASX:APT)

Market cap: AU$35.37 billion

The startup founded in Sydney's eastern suburbs five years ago is now a global brand and employs some 700 people globally serving millions of customers. The brand name has become a verb for buy now pay later — "I'll after pay it." AfterPay was acquired by giant payments provider Square for AU$39 billion in August 2021. Group Total Income for FY21 was 78 percent higher than the previous year at AU$924.7 million, and Afterpay Income increased by 90 percent.

Early investors have reaped the benefits of AfterPay's booming rewards. An investigation by the Australian Financial Review found singer John Farnham and wife Jillian started investing in 2017 when share prices were low and today they hold 36,304 shares at a value of close to AU$3.2 million.

2. Sezzle (ASX:SZL)

Market cap: AU$1.13 billion

Sezzle is the Certified B Corp buy now pay later option that listed on the ASX in 2019. Often dubbed the "mini-Afterpay," the business is based in Minneapolis, US, and has been trying to make "Just Sezzle it" happen since it formed in 2016. The company serves customers mostly in North America, with plans to expand to India.

The company reported an after-tax loss of US$30.4 million for the six months ending June 30, 2021, and it saw an income increase of 159 percent for the same period, alongside an increase of 102 percent in costs.

3. Openpay Group (ASX:OPY)

Market cap: AU$173.92 million

Another Australian buy now pay later offering is Openpay, which offers payment plans of up to 24 months and up to AU$20,000. Openpay started in 2013 for Australia and New Zealand, expanded in 2019 to the UK and reached the US in 2020 under the brand name Opy. This contributed to a growth of 44 percent in income for FY21 of AU$26.3 million.

The company positions itself as a financially responsible business for a mature audience wanting funding for life affirming things like home improvement projects. Unlike Afterpay, Openpay does perform credit checks on all clients through their B2B offering, a SaaS-based platform Openpay for Business.

4. Cirralto (ASX:CRO)

Market cap: AU$167.19 million

Cirralto is a transaction services business that supplies a broad range of B2B payment services and a fully integrated digital payment and business software solution known as Spenda. It aims to help businesses to improve their processes and payment terms to so the businesses can get paid faster.

Cirralto's FY21 has been strong, with 157 percent increase in revenue and a 113 percent boost in customer growth. Other big news included the acquisition of software technology company Greenshoots Technology in September 2021. Greenshoots provides a white-labelled eCommerce platform for small and medium businesses.

5. Novatti Group (ASX:NOV)

Market cap: AU$148.95 million

Novatti is a multi-services payment provider for businesses and business customers with year on year revenue growth of around 50 percent for each of the past four years. Its customer base is roughly half fintech companies and banks and half traditional merchants and businesses. Novatti has licenses to operate in Australia, New Zealand and Canada and is obtaining licenses in Europe and Singapore.

The brand has big plans to expand into new markets after a AU$40 million capital raise in July, of which AU$22 million was spent on a strategic investment of a 19.9 percent stake in bookkeeping software Reckon (ASX:RKN). The company is working through licenses with Mastercard and Visa and will be looking to expand into new markets for FY22.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.

kangaroos in front of the sunrise

Silver is on the rise in Australia, with new silver mines opening, production potential booming and the precious metal's valuation reaching new heights.

Analysts have been bullish on gold for the better part of the past decade, but now it's silver's time to shine. While the price of silver tends to rise and fall alongside that of gold, silver's valuation is generally more volatile — slower to move in either direction, but more prone to abrupt spikes and plunges.

Considering the market's longtime gold rush, silver is due for a major price hike. In 2020, silver hit a seven year high with 27 percent year-over-year growth, climbing faster than gold. Silver was on the rise again in February 2021, bolstered by WallStreetBets fervour. Though prices have stabilised since, they remain elevated compared to the past decade. Additionally, at only a fraction of gold's valuation, silver is a much more attainable buy.

Shrewd investors are looking to Australia for their silver picks. A country whose silver mines continued to flourish even when most of the world was in a precious metal slump, Australia has emerged from the COVID-19 pandemic as a major player in the global silver market.


A look at Australia and silver mining

When you think of mining in Australia, you may not think of silver, especially since the country is a top global producer of several other metals, including gold and iron ore. Nevertheless, silver is on the rise in Australia, with new silver mines opening, production potential booming and the precious metal's valuation reaching new heights.

This may be surprising news, especially since 2020 was an erratic year for silver. Global silver-mining production plunged by 5.9 percent in 2020 — its biggest drop in over 10 years —⁠ following four years of steady decline.

Output from primary silver mines plummeted by 11.9 percent year-over-year, while silver by-product suffered a more modest drop, with production from gold and lead-⁠zinc mines falling by 5.7 percent and 7.4 percent, respectively. Note that silver is largely produced as a by-product of other metal-mining processes, with 72 percent of silver production taking place at non-silver mines.

This production downturn was the result of COVID-19 restrictions that forced mines to suspend operations temporarily. Silver mine closures hit certain places harder than others, with extended closures in top silver-producing countries such as Peru, Mexico, Argentina and Bolivia causing major production drops.

Australia, however, was an exception to this rule, with production increasing by 3 percent. The reason for Australia's success is that it remained relatively untouched by COVID-19 restrictions. While other countries were forced to shut down production facilities, Australia was able to avoid these closures, continuing — and even upgrading — regular operations.

Australia is now the fifth largest silver producer globally, with an annual output of 43.8 million ounces in 2020. While the output of silver-mining giants such as Mexico and Peru (178.1 million and 109.7 million ounces produced in 2020, respectively) continues to far exceed that of Australia, global demand for silver is on the rise, hitting 900 million ounces annually and making room for a new silver-mining powerhouse.

What should investors know about silver investing in Australia?

Silver remains a relatively untapped resource in Australia, which means that investors have plenty of major mining companies to choose from.

Australia's largest mine is the Cannington mine owned by South32 (ASX:S32,OTC Pink:SHTLF). It is ranked as the ninth largest silver-producing mine worldwide, with 11.6 million ounces produced in 2020.

The country's second biggest silver-producing mine is the Mount Isa zinc mine. It is owned by Mount Isa Mines, a subsidiary of Glencore (LSE:GLEN,OTC Pink:GLCNF), and produced around 5.8 million ounces of silver in 2020. The Tritton copper mine, owned by Aeris Resources (ASX:AIS,OTC Pink:ARSRF), followed closely behind with nearly 4.5 million ounces produced in the same year.

Other notable Australian silver mines include the Golden Grove mine, which is owned by 29Metals (ASX:29M), and the Dugald River mine, which is owned by Metallic Minerals (ASX:MMG,TSXV:MMG,OTCQB:MMNGF). In 2020, these mines produced around 2.9 million and 2 million ounces of silver, respectively.

Australia's impressive silver-mining industry is well-positioned for further expansion, with Silver Mines (ASX:SVL,OTC Pink:SLVMF) planning to launch its Bowden silver project in 2023. This New South Wales-based silver mine is projected to produce around 6 million ounces of silver annually, which would make it the country's new second largest producer. The company hopes to capitalise on the promising solar panel market, which currently accounts for about 5.5 percent of all silver demand worldwide.

Moreover, Australian company Thomson Resources (ASX:TMZ,OTC Pink:TMZRF) bought the New South Wales-based Webb and Conrad silver projects from Silver Mines earlier this year in a transaction worth around US$8.6 million. The deal closed on March 31, and will enable Silver Mines to concentrate on its flagship Bowden project.

Investing in silver in Australia

There are many ways to invest in silver, including physical silver, stocks, exchange-traded funds (ETFs), mutual funds, options and futures. Choosing which investment route to take is all about balancing risk and reward.

Investing in physical silver is the most straightforward option: you simply buy a tangible piece of the precious metal in the form of bullion, official coins or medallions. Bullion is a bar or 1 ounce coin of solid silver with at least 99.9 percent purity. Official silver coins are currency produced by a government mint, while silver medallions resemble coins, but lack monetary value, .

The price of physical silver rises and falls alongside the metal's market value. Physical silver is a relatively safe investment, since its value can't be affected by third-party interference or bad business practices (risks characteristic of mining stocks). However, if you plan to trade often, the added costs of buying, selling and storing physical silver may make the investment not worth your while.

Investments in physical silver rose by 8 percent last year, boosted by silver's status as a safe asset and market bullishness on gold. In Australia, coins and medals fabrication increased by 35 percent year-over-year, making physical silver a smart choice for any risk-averse investor.

Of course, low risk often means low reward. If you're looking for a bigger payday, consider investing in silver-mining stocks instead. After all, when silver's market price goes up, it is often the case that the value of a mining stock could spike far higher than that of the physical metal. The disadvantage is that mining stocks are always risky — even when the silver market is strong, a mining endeavour can fail to pan out.

ETFs offer investors the best of both worlds. ETFs are a basket of varied equities, including physical metals and shares in mining companies. Much like individual stocks, they are liable to rise or fall in price according to the market, though they tend to be less risky than stocks.

In 2020, ETF investments were at an all-time-high, though Australia only has one silver ETF that includes the physical precious metal. Stocks are a much more common means of investing in silver in Australia. The country boasts over a dozen silver-mining companies, including South32 and Silver Mines, as well as Newcrest Mining (ASX:NCM,TSX:NCM,OTC Pink:NCMGF), Golden Deeps (ASX:GED) and Investigator Resources (ASX:IVR).

Don't forget to follow us @INN_Australia for real-time news updates.

Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.