Thursday, April 4, 2013
Sunday, February 10, 2013
The Royal Australian Mint is proud to present an artist’s impression
of the internationally recognised kangaroo road sign.
This classic road sign has presided over Australian roads for
decades and been idolised by millions of tourists each year during
Available in one ounce, five ounce and one kilogram in gold and
silver this design is the first of a five year series.
Presented in a luxurious black leatherette case with an elegant
outer box these coins are sure to appeal to the discerning collector.
The one kilo gold and one kilo silver will be on a made to order
Reverse Designer: Wojciech Pietranik
Obverse Designer: Wojciech Pietranik/Ian Rank-Broadley
Posted by Joseph Gale at 2:22 AM
Wednesday, February 6, 2013
A new design, mintages and release date for 2013 Australian Kangaroo Gold Bullion Coins were revealed this week by the Perth Mint of Australia.
Offered in varying mintages and ranging in five sizes from the smallest 1/4 ounce to the largest 1 kilo, the 99.99% pure gold bullion coins will make their official entrance via Perth Mint distribution channels on October 1, 2012.
Reverses for all but the largest coin feature a new design, which is that of a kangaroo set against a bush scene. Inscriptions surrounding the reverses include AUSTRALIAN KANGAROO, the year 2013, the coin’s precious metal weight and 9999 GOLD. The Perth Mint’s mint mark, P, is placed within the outer portion of the central scene.
The series of gold bullion coins has offered annually changing kangaroo designs since 1990, displacing images of Australian gold nuggets that the series was first known for between its introduction in 1987 and 1989. In fact, the bullion series was still known as the "Australian Nugget" series until the name "Australian Kangaroo" began being used in 2008.
1 kilo sized coins have been around since 1992, and have always depicted the classic image of a red kangaroo by Dr Stuart Devlin AO CMG, goldsmith and jeweller to Her Majesty Queen Elizabeth II. Inscriptions on it are the same as on the smaller coins, with the exception of words RED KANGAROO beneath the jumping marsupial.
Obverses of all the coins feature the same portrait of Queen Elizabeth II, plus the inscriptions of their face value, ELIZABETH II, and AUSTRALIA.
Mintage limits and specifications remain the same as prior years, and are listed in the following table:
Specifications for 2013 Kangaroo Gold Bullion Coins
|Size||1 kilo||1 oz||1/2 oz||1/4 oz||1/10 oz|
|Minimum Gross Weight (g)||1,000.100||31.112||15.554||7.777||3.111|
|Face Value (AUD)||$3,000||$100||$50||$25||$15|
|Gold Content (Troy oz)||32.151||1||.5||.25||.1|
Each bullion coin carries an Australian Government guarantee of weight and purity, and they are considered legal tender under the Australian Currency Act of 1965.
Posted by Joseph Gale at 4:22 PM
Monday, February 4, 2013
Mining stocks have taken the brunt of the walloping on the sharemarket but the selling is largely indiscriminate, prompting many people to ask whether some resource stocks are oversold.
There are reasons to be wary though, as 334 miners have a weak cash balance, below $2 million – a level which usually rings alarm bells.
While E.I.M. Capital Managers director Tony Wiggins believes the sector is littered with value traps, he says “special situation” resource companies have potential.
These are miners that face corporate activity (such as those involved in takeovers) or close to achieving a significant milestone (such as making the transition from explorer to producer or reaching full-production capacity).
Experts speaking to The Australian Financial Review this week nominated the following 10 mining stocks as best placed to rebound in the coming months.
Sundance Resources (SDL)
The Africa-focused iron ore hopeful is one that fits the “special situations” bill well, Wiggins says. It’s been on a wild ride since Chinese shareholder Hanlong Mining Group made a takeover bid last year. But doubts about Hanlong’s ability to finance the takeover have cast a long shadow over Sundance Resources.
While Hanlong eventually secured financier commitment letters from two banks, the market is sceptical and the stock is trading well under the offer price of 45¢ a share.
“There’s a very low chance of the deal falling over now,” Tony Wiggins says. “People won’t believe it until the deal is consummated.” By then, however, the opportunity would have been lost.
Pluton Resources (PLV)
Scepticism is also dragging heavily on fellow iron ore miner Pluton Resources. Investors lost faith due to lengthy delays in securing finance for its acquisition of the Cockatoo Island project.
When Pluton completes its first iron ore shipment from Cockatoo, Wiggins says, it will convert the disbelievers. The project has no infrastructure issues and has a free-on-board cost of just $51 a tonne of iron ore before state royalties.
Kalnorth Gold Mines (KGM)
Set to transition from an explorer to a producer by February, this is another resource stock that will probably get a re-rating as its risk profile decreases.
Kalnorth has managed the transition well, having struck a deal with St Barbara to use its ore-processing mill rather than funding its own.
“What investors are getting is positive cash flow from early next year and no more dilution [from capital raisings],” says Wiggins.
Saracen Mineral Holdings (SAR)
The gold sector is a good place to be hunting for oversold bargains as economic conditions support the precious metal, Phillip Resources Fund’s chief investment officer, Chris Bain, says.
Gold producers with the biggest rebound potential, however, are likely to be those that can rein in ballooning costs in the December quarter.
“Saracen’s costs did blow out substantially but they’ve now got the credit facility in place for their expansion, their [ore] grades are improving and they seem to have costs under control,” Bain says.
If Saracen can control rising costs over the next two quarters, the stock is likely to find a 30 per cent or so upside, he predicts.
Saracen’s cash cost in the past quarter was about $900 an ounce of gold compared to $700-plus an ounce only a year ago.
Perseus Mining (PRU)
Having lost more than 20 per cent of its share price value over the past six weeks, Perseus Mining could rebound if the Sissingué gold project gets going in the Ivory Coast, Bain says. Political issues have dogged the project but the sell-off doesn’t seem to be justified given management’s delivery on promises and quality assets.
Silver Lake Resources (SLR)
Another goldminer whose stock has fallen about 20 per cent, Silver Lake Resources, is very much in the same category as Perseus.
A weaker than expected September quarter production result was one of the key drivers of its poor performance, says Troy Irvin, director of investment house Argonaut.
But, he says, its Mt Monger mine is “operationally sound with substantial productivity gains leading to higher volumes”.
Irvin favours Silver Lake’s acquisition of Integra Mining as it instantly makes the miner a producer of 250,000 ounces of gold a year, with the Murchison development project giving it potential to grow production to 400,000 ounces.
Argonaut has a “buy” recommendation on the stock and a price target of $4.40.
Troy Resources (TRY)
The South American-focused gold and copper producer is another of Irvin’s picks. Persistent sovereign risk concerns and cost inflation in Argentina had sparked a 14 per cent sell-off in the stock since early October.
News of a cost blowout at Barrick’s nearby Pascua Lama project in Chile is adding to anxiety. While Troy clearly has its challenges, the miner’s project is a high ore grade and high-margin proposition.
Further, Troy has a frugal capital structure with only 91 million shares on issue, and an enviable 13-year track record of paying dividends. Argonaut is urging investors to “buy” the stock with a $5.80 price target.
Tiger Resources (TGS)
It’s not only gold that is glittering. LimeStreet Capital believes the outlook for copper is also promising due to the lack of any significant new copper projects.
Tiger Resources could be an inviting takeover target by the big copper producers, according to LimeStreet.
Tiger has plunged 26 per cent this year, which seems excessive given strong cash flow and big earnings growth potential for 2012-13.
Rex Minerals (REX)
The junior copper-gold explorer is a riskier proposition, but Chris Bain thinks that it’s worth the punt following the 44 per cent collapse in its share price since January.
While Rex’s South Australian prospects look promising, it will need around $700 million to fund development work.
That’s a tough ask for a junior with a market capitalisation of about $150 million.
“They have a lot of hard work to do, but the asset is there, it’s valuable and it will become a mine,” Bain says.
“It’s a matter of whether the market is kind enough to let them raise the capital or someone says ‘I’ll have that thanks’.”
Rex did a capital raising not too long ago at $1.20 and the stock is trading around 80¢. Many investors are still hurting.
Mirabela Nickel (MBN)
While it seems counter intuitive for anyone to bat for Mirabela Nickel given the challenging outlook for nickel, Troy Irvin thinks that the risk has been more than factored into the miner’s share price after the stock shed two-thirds of its value in 12 months.
While nickel prices are hovering around a three-year low on concerns that the market is oversupplied, Mirabela’s operations are improving.
Its Santa Rita mine in Brazil, for example, has recorded consecutive improvement in its quarterly performance.
The miner has also completed a recent expansion and cost-cutting is starting to deliver results.
Mirabela is still profitable at current nickel prices and Irvin believes that it offers “unrivalled leverage” to any rebound in nickel prices.
Posted by Joseph Gale at 2:38 PM
Saturday, February 2, 2013
Land Down Under – Sydney Opera House $25 Legal Tender 2013 Quarter Ounce Gold Proof Coin - The Perth Mint
The Perth Mint is pleased to announce its significant new collector coin program for 2013. The Land Down Under series will showcase Australia’s iconic landmarks, ancient culture, unique discovery and enviable lifestyle.
The series will commence with the landmark theme, represented by the architectural masterpiece that is Sydney Opera House. As a renowned heritage site, a premier performance venue and the central site for Australia’s celebratory occasions, Sydney Opera House is visited by millions of people each year.
Proof Quality 99.99% Pure GoldThe coin is struck by The Perth Mint from 1/4oz of 99.99% gold in proof quality.
Stunning Reverse DesignThe coin’s reverse depicts Sydney Opera House and Sydney harbour. The inscription THE LAND DOWN UNDER and The Perth Mint’s ‘P’ mintmark are also incorporated in the design.
Australian Legal Tender$25 Legal Tender . Issued as Australian legal tender, the coin’s obverse depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, the year-date and the monetary denomination.
Extremely Limited MintageThe Perth Mint will release no more than 1,000 of these Sydney Opera House 2013 1/4oz Gold Proof Coins.
Unique Display Case and Numbered CertificateThe coin is housed in a unique latex case, which has been created in the shape of Australia, and is presented within a superb themed shipper. Each coin is accompanied by a numbered Certificate of Authenticity.
Land Down Under – Sydney Opera House 2013 1/4oz Gold Proof Coin at The Perth Mint, featuring:
- Significant New Series for 2013
- Proof Quality 99.99% Pure Gold
- Stunning Reverse Design
- Australian Legal Tender
- Extremely Limited Mintage – 1,000
- Unique Display Case and Numbered Certificate
|Gold Content (Troy oz)||0.25|
|Monetary Denomination (AUD)||25|
|Fineness (% purity)||99.99|
|Minimum Gross Weight (g)||7.777|
|Maximum Diameter (mm)||20.60|
|Maximum Thickness (mm)||2.00|
Posted by Joseph Gale at 5:54 AM
Sunday, January 20, 2013
A WHOPPING 5.5kg gold nugget worth up to $300,000 has been found in bush near Ballarat.
The "incredibly rare" nugget was found 60cm underground by a prospector, who wishes to remain anonymous, on Wednesday.
Ballarat Mining Exchange Gold Shop owner and dealer Cordell Kent said the prospector heard a faint noise on his detector and removed a dense pile of leaf mulch before he started digging.
"He thought he had detected the bonnet of a car when he saw a glint of gold," Mr Kent said.
"He cleaned the top of it and the gold kept expanding and expanding ... he saw more and more gold ... he couldn’t believe what he was seeing."
The nugget is worth about $282,000 in weight, but has an added premium because it is rare to find one over a kilogram, Mr Kent said.
"I have been a prospector and dealer for two decades, and cannot remember the last time a nugget over 100 ounces (2.8kg) has been found locally.
"It’s extremely significant as a mineral specimen. We are 162 years into a gold rush and Ballarat is still producing nuggets - it’s unheard of."
Posted by Joseph Gale at 2:21 PM
Thursday, December 6, 2012
2012 8 Coin Gold Proof Year Set – Mini Money Circulating Designs
The images featured on Australia's first decimal coins are as familiar to Australians as they are intriguing and world renowned. This coin set features the one cent, two cent, five cent, ten cent, twenty cent, round fifty cent, one dollar and two dollar coins all the same size and in one collection. This collection is unique as these are some of the smallest coins we have ever made at the Royal Australian Mint. Struck in 99.99 percent gold, these designs created by Stuart Devlin beautifully highlight Australia as a unique and inimitable country.
This unique eight coin set is presented in a wooden case with each of the coins individually removable from case.
This set is a highly affordable way to acquire a full set of Australia’s circulating coin designs in gold, with its uniqueness being an important part of this collection.
Posted by Joseph Gale at 3:59 PM