The company said the survey results are considered important because they show several intrusions at Zackly SE which are in turn surrounded by a broad zone of magnetite destruction.

PolarX (ASX:PXX) has announced that its new high‐resolution aeromagnetic survey more clearly defines the significant copper‐gold porphyry potential of the Zackly SE prospect at its Alaska Range project.

The company said the survey results are considered important because they show several intrusions at Zackly SE which are in turn surrounded by a broad zone of magnetite destruction.

As highlighted in the press release:

  • Detailed aeromagnetic data defines multiple phases of intrusion at Zackly SE
  • The result is highly significant and confirms Zackly SE as a high‐priority porphyry target
  • Survey data also highlights a pronounced, 12km‐long mineralized structural corridor extending from Zackly SE to the Mars copper-gold porphyry target
  • The known high‐grade copper‐gold skarn mineralization at Zackly occurs along the fault‐bound northern edge of this corridor
  • The new data will greatly assist targeting drilling extensions to the 47‐55m thick, near‐surface high‐grade mineralization discovered in holes ZX‐18020 and ZX‐18024, 850m east of the existing inferred resource

Click here to read the full PolarX (ASX:PXX) press release.

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Joe Mazumdar of Exploration Insights also shared his thoughts on the copper market and how to evaluate copper deposits.

Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Money

Raising money is a key challenge for juniors in today's markets — and even when companies are able to secure funds, it's key to remember that not all financings are equal.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Joe Mazumdar, editor of Exploration Insights, shared his thoughts on how investors can differentiate between good and bad financings.

Along with considerations like warrants, he told the Investing News Network that before buying shares of an exploration company it's a good idea to look at when it last went to market.

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Aside from copper, Mazumdar also spoke about financing, which he sees as the "big squeeze" facing the resource sector right now.

Joe Mazumdar: Copper is the Commodity of the Decade, Ways to Get Exposure

Investors often focus on the commodities of the moment, but which have potential over the next decade?

Speaking to the Investing News Network at the recent Vancouver Resource Investment Conference (VRIC), Joe Mazumdar, editor of Exploration Insights, said copper is his pick.

"Some of it's battery metal exposure, it's construction," he said. "But also on the supply side, the lack of development projects and the higher permitting risk combined with more geopolitical risk in two of the major producers, Chile and Peru. They might have issues with production into a market (where) demand might grow."

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Lithium receives most of the attention when it comes to electric vehicles, but copper's role is becoming increasingly vital. Australia is positioned to help feed demand.

One of the key steps to reducing our carbon footprint is decarbonising the transport sector. To that end, the world's leading car and truck manufacturers are racing to develop battery-powered electric vehicles (EVs) that will ultimately bring about the end of the internal combustion engine (ICE).

According to the International Energy Agency, EVs comprised 9 percent of total global vehicle sales in 2021 as electric car sales more than doubled to 6.6 million — that's triple their market share from two years earlier.

Australia is no exception — sales in the country tripled in 2021 to 20,665 EVs, up from 6,900 in 2020. Market share came in at 2 percent of all car sales in the nation versus 0.78 percent in 2020, as per the EV Council of Australia.

Overall EV sales are expected to rise to 26.8 million in 2030. This impressive growth in EV adoption represents an opportunity for investors, but also places tremendous pressure on mining companies to keep pace with demand for battery metals such as lithium, cobalt and of course copper. All of these are needed to produce the cars, and perhaps more significantly, the batteries that power them.

Copper's key role in electric vehicles

As mentioned, battery metals like lithium and cobalt are more commonly in the spotlight when it comes to the EV story. But copper has a key role that is only gaining more attention as time goes by.

According to Wood Mackenzie, EVs can use up to three and a half times as much copper as ICE passenger cars. Battery-powered buses, a key aspect of public transportation, are even more copper intensive, using between 11 and 16 times more copper than similar ICE passenger vehicles, depending on the size of the battery and the bus.

Due to its superior conductivity, EVs coming off assembly lines today rely on extensive copper wiring to connect their battery packs to vehicle electronics, while their batteries contain 8 percent copper on average.

What's more, it's estimated that eight times more lithium, nickel and copper will be required for annual EV production in 2030 compared to today — and that is a low forecast assuming only 40 percent EV sales penetration.

Notably, Morgan Stanley (NYSE:MS) has argued that copper is "the new oil" in recognition of how the metal has become an integral component of sustainable technologies as part of a "new industrial order," particularly with respect to EVs and other industrial sectors that rely on clean energy.

Meanwhile, in a May 2021 report, investment bank Goldman Sachs (NYSE:GS) states that "copper will be crucial in achieving decarbonization and replacing oil with renewable energy sources, and right now, the market is facing a supply crunch that could boost the price by more than 60 percent in four years." In addition, the firm predicts that by 2030, copper demand will grow nearly 600 percent to 5.4 million tonnes.

Does this mean that there will be a copper crunch between now and then?

"There is a question mark over whether miners can deliver enough supply for all applications of copper," Eleni Joannides, research director for copper at Wood Mackenzie, explained to the Investing News Network. "If you just consider EVs alone, in most of the world outside China, the extra demand for copper foil for EV batteries will be supplied by scrap. In China, it will be a mix of scrap and refined copper. Even under the most optimistic scenarios, EVs will represent only a small part of total copper demand."

Joannides does not believe that the world's leading EV manufacturers will face a battery shortage owing to a shortfall in copper supply. "It is unlikely that copper in and of itself will threaten battery production given all the other commodities required which have their own supply/demand dynamics. In the meantime, the copper foil industry is making good progress in announcing and building new projects and expansions across the globe."

That said, in the wake of Russia's invasion of Ukraine, along with a projected sustained period of higher oil prices, consumers may shift in even greater proportions away from ICE vehicles and toward EVs. Should prices for copper and the other metals required for battery production continue to soar as they have in recent months, battery manufacturers may pass the costs along to EV manufacturers — their sales figures could be blunted by consequent higher sticker price costs.

Joannides thinks copper will likely rise beyond the three to five year horizon. "This will have to be reflected in battery prices, and this may well affect the profitability of EV battery manufacturers. This could lead to difficulties in the market if EV battery prices become so expensive that EV makers are not prepared to pay for it," she said.

Will copper miners be able to meet demand?

One of the overriding concerns among transportation industry observers is the possibility of future supply chain bottlenecks for global metal producers. Although lithium receives most of the attention when it comes to EV sector commodities, copper is becoming an increasingly vital concern to the industry.

Within the last two years alone, the price of copper has more than doubled from a low of US$2.30 per pound to an all-time record high of US$4.78 at the beginning of March 2022.

Given the stagnation in copper production over the short term compared growing EV sales and corresponding demand for batteries, prices should be expected to stay at high levels and continue to rise over the course of the decade until new mining capacity is created.

However, Wood Mackenzie Principal Copper Analyst Will Tankard argues that copper supply shortage forecasts tend to be exaggerated. "There is always a projected supply gap in the copper market, but it never materialises, either because demand is weaker, or supply is stronger or there is more scrap available," he said.

"Scrap has always played a role as a buffer to the market, and in Wood Mackenzie’s view, scrap is likely to continue to increase its role as another avenue of supply. A look at the copper price signals clearly that the gauntlet has been laid down to the industry to deliver long-term copper production to enable the energy transition. The role of scrap, and thus the availability of scrap into the market, is also developing," added Tankard.

But all that might change as the world emerges out of the COVID-19 pandemic and demand for EVs accelerates. This is especially true in the current climate of rising oil prices, which have skyrocketed past the US$100 per barrel price point in 2022, making the comparative operating costs for EVs far more attractive compared to ICE cars.

This is the view of Bloomberg Senior Metals and Mining Analyst Yi Zhu, who last September said that copper demand will continue to rise in the face of rising demand for EV batteries.

"We think Doctor Copper can get capital boost at oil’s expense, as crude oil is vulnerable to EVs,” Zhu said. "Fuel demand may head for a structural decline while copper consumption could surge as battery power infrastructure develops. And capital could switch from oil-related assets to copper-related assets. The copper/oil ratio has traded above the average resistance level before the pandemic, which implies investor anticipation of a possible post-pandemic shift in both commodities’ price patterns."

How Australia's copper sector can help feed EVs

Rising prices may have the effect of incentivising Australian copper producers to increase exploration, expand capacity and otherwise increase production down the road to meet expected demand for the metal.

According to the most recent data provided by the US Geological Survey, Australian copper reserves are the second highest in the world as of 2021 at 93 million tonnes, behind Chile with 200 million tonnes. Australia is also a top 10 copper producer, and exports generated revenues of US$3.82 billion in 2021; industry analysts expect that figure to continue to rise for the rest of the decade and beyond.

The majority of the country's copper resources are concentrated at the Olympic Dam copper-uranium-gold deposit in South Australia and at the Mount Isa copper-lead-zinc deposit in Queensland.

Other significant Australian copper sources are the Northparkes copper-gold, CSA copper-lead-zinc and Girilambone copper deposits in New South Wales; the Ernest Henry, Osborne and Mammoth copper and copper-gold deposits at Selwyn in Queensland; the copper-zinc deposits at Golden Grove in Western Australia; and the Nifty copper deposit, also located in Western Australia.

For more details on copper in Australia, click through the links below:

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

Securities Disclosure: I, Harold Von Kursk, currently hold no direct investment interest in any company mentioned in this article.

Perth, Australia - Cyprium Metals Limited is pleased to announce the Company's updated MRE for the Nifty copper deposit following completion of the successful Nifty west pit drilling program in 2021. Cyprium's previously disclosed MRE for Nifty was the maiden Nifty MRE under Cyprium's ownership. Managing Director Barry Cahill commented: "There is a significant increase in the contained copper metal tonnes in the ...
Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce the Company's updated MRE for the Nifty copper deposit following completion of the successful Nifty west pit drilling program in 2021. Cyprium's previously disclosed MRE for Nifty was the maiden Nifty MRE under Cyprium's ownership.

Managing Director Barry Cahill commented:

"There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty. Once again, this demonstrates the quality and scale of the Nifty deposit, which remains open. The updated Mineral Resource Estimate provides additional copper metal inventory for the Nifty phase 1 oxide copper project and underpins a potential open pit mine-life of greater than 20 years.

Further assay results from the Nifty east drilling programme will be announced later this month. The results of this drilling programme, which targeted the shallower oxide zone of the deposit, are expected to further extend the Nifty phase 1 oxide mine-life."

The current Nifty MRE of 95.1Mt at 1.0% copper for a total contained copper inventory of 940,200t (refer to Table 1*) is the result of the completion of the successful Nifty west pit drilling program and Nifty Copper Project Restart Study. The Nifty west drilling program consisted of 71 RC holes for a total of 18,867 metres.

The Nifty Copper Project Restart Study is focussed on the development of the first phase of the project that involves a return to heap leaching and solvent extraction electrowinning (SX-EW) to produce copper metal cathode on site. The significant inventory and increase of heap leachable oxide mineralisation confirmed by this MRE (16.1Mt at 0.9% copper for approximately 144,300t of contained copper metal) presents additional upside opportunity on project economics. The drilling programmes completed at Nifty West and East were designed primarily to confirm the mineralisation and to improve the confidence, hence classification of inferred resource, plus possible extension of mineralisation.

The May 2022 Mineral Resource Estimate maintained uniform methodology, resource depletion, grade interpolation, density algorithms, QAQC protocols and classification codes as those reported and detailed in Cyprium's ASX Release "Nifty Mineral Resource Update" dated 17 November 2021.

*To view tables and figures, please visit:

About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.

Cyprium Metals Ltd

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Cyprium Metals


The securities of Cyprium Metals Limited (‘CYM’) will be placed in trading halt at the request of CYM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 30 June 2022 or when the announcement is released to the market.

Issued by
Damian Dinelli
Adviser, Listings Compliance (Perth)

Click here for the full ASX Release

This article includes content from Cyprium Metals Limited (ASX:CYM), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


Work at the company’s Cancet project is building toward a maiden resource in Q1 2023, said Managing Director Chris Evans.

Although prices have cooled off from the highs seen earlier this year, the lithium market remains in focus and investors are interested in how to get exposure to the green energy transition.

Chris Evans, managing director at Winsome Resources (ASX:WR1), said Australian investors in particular are aware of the lithium opportunity, and reacted well to the company’s ASX listing this past November.

The company initially came to market with three lithium assets in the James Bay region of Quebec, and has since acquired two additional lithium projects in the province.

Speaking to the Investing News Network, Evans explained that Cancet is the company’s main focus. Recent assay results released during the Prospectors & Developers Association of Canada (PDAC) convention build on previous drilling at the property, and have increased the known pegmatite strike length to 1,200 meters from 600 meters.

Looking forward, Evans said that two geological teams are now on the ground at Cancet, and are investigating targets identified through geophysical surveys to figure out which of them require drilling.

Known pegmatites that have already been drilled are also being stripped and cleared so that the company can complete field mapping and decide where to drill next.

“Really all that’s working towards a maiden resource in the first quarter of 2023,” said Evans.

In terms of the overall lithium market, he said a recent Goldman Sachs (NYSE:GS) report saying the battery metals bull market is “over for now” put a damper on sentiment, but is generally not thought to be a major concern.

“I think that probably initiated a bit of a correction in the market, which may have been needed because lithium prices and stocks were at all-time highs,” he said. “But in terms of an oversupply like Goldman Sachs is predicting, I haven’t heard anyone agree with that since I’ve been here at PDAC.”

Watch the interview above for more from Evans on Winsome Resources and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

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

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

Editorial Disclosure: Winsome Resources is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

person using credit card to pay for something on their phone

Revenue from Australia's mobile sector is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026. Here's what to know about this industry.

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.

"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.

Understanding Australia's mobile tech landscape

One of the drivers of Australia's tech sector expansion is its booming mobile telephone industry. This expansion has taken many forms ranging from expanded use of mobile telephony, adoption of blockchain technology for supply chain management and the rise of the cryptocurrency market. The application of mobile tech to the banking industry is just one space where mobile usage has become key and is expected to continue developing. According to research firm KPMG, digital platforms will become the preferred and dominant business model form.

Chase Bank completed a survey revealing that the COVID-19 pandemic has accelerated the adoption of mobile banking technology. Banking apps allow users to deposit cheques, pay bills and perform transfers from their mobile device.

One critical side effect of COVID-19 has been the way lockdowns and related restrictions on behaviour has changed the way people live and work. Remote working conditions and enforced isolation has triggered increased demand for improved connectivity and internet speeds to facilitate this transition in corporate culture during the pandemic.

As a result, Australia's leading mobile telephony giants have been obliged to improve data capacity and speed, especially in regional areas that have badly lagged behind urban coverage. Some people have relocated to regional areas — where connectivity remains a challenge — and others are requiring more data capacity and fast speeds to allow them to work more efficiently from home.

The Australian mobile sector is dominated by three main players: Telstra (ASX:TLS), Optus — a subsidiary of Singapore-based Singtel (SGX:Z74) — and TPG Telecom (ASX:TPG). Telstra is the largest provider of mobile services with 48.7 percent market share followed by Optus at 26.3 percent.

In 2022, there have already been several major new developments in the Australian mobile sector. One such event has been the tentative network sharing agreement announced in February between Telstra and TPG Telecom, which brings an end to the bitter rivalry between the two competitors. The agreement provides a comprehensive framework for the two telecom giants to share mobile telecommunication infrastructure across Australia.

TPG and Telstra will both enjoy significant savings and benefits from this arrangement. Telstra will reap up to AU$1.8 billion in added revenues while gaining access to TPG's spectrum that expands Telstra's fixed wireless services in regional areas. Correspondingly, TPG gains access to 3,700 Telstra towers in regional areas; this means TPG does not have to spend significant money to duplicate the infrastructure for its own use.

In addition, Telstra announced earlier in the year that it will spend up to AU$1.6 billion on new infrastructure intended to improve connectivity and internet speeds as part of its response to the overall need to accommodate rising consumer demand in the wake of the pandemic.

What's the outlook for mobile tech in Australia?

One of the positive side effects of the pandemic has been the increasing adoption of wireless services by Australians and the ownership of internet-of-things devices that are prevalent in nearly all households.

According to GlobalData, a data and analytics company, mobile sector revenue in Australia is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026 at a compound annual growth rate of 3 percent. This revenue growth will mainly accrue from growth in the mobile data subsector.

Meanwhile, the three leading telephone companies will not only be expanding their 4G services but rolling out 5G networks across the country. 5G allows for improved and additional smartphone services and also enhances fixed wireless services that are competitive with higher speed National Broadband Network (NBN) connections.

In addition, low earth orbit satellite services are beginning to roll out in Australia led by Elon Musk's SpaceX's Starlink service that offers broadband connections delivered via its satellite network.

Overfall, the winding down of restrictions due to COVID-19 will likely see the big three companies enjoy higher revenues in 2022 after declines in earnings owing to the pandemic. Telstra, Optus and TPG Telecom all experienced significant earnings drops between 2020 and 2021 due to reduced international roaming fees, softening demand for headsets and ongoing adoption of NBN services.

But the outlook for 2022 is positive given overall improved economic prospects as Australia emerges from the pandemic, which actually increased overall consumer use of communication services in 2021.

Lockdowns resulted in increased consumer uptake of online services such as online shopping, data-intensive video streaming and the additional household usage of communication services. Indeed, in 2021, data traffic reached record highs as Australian consumers demanded improved internet speeds and unlimited data plans. Remote work will likely continue to remain elevated in 2022 and beyond, which should reinforce increased consumption of home communications services.

Telstar and TPG Telecom in particular are embarking on long term strategies that will drive future earnings growth via accelerating 5G adoption, expansion in dark fibre, and increased adoption of new services such as edge/cloud computing.

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

Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.

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