It turns out they are, just not in Australia. The ABARE numbers measure exploration spending within Australia. But many Australian-listed firms are looking for gold and uranium in other places, especially in Africa. They’re doing so because production costs are lower there, even if political risk is higher (although in some places, it’s more than acceptable for the projects on offer).
November 20th, 2009 | Dan Denning | 0 comments | ContinuedAll Posts Tagged With: "Diggers and Drillers"
Speculators and Chinese Firms Accumulating Australian Resource Companies and Commodities
And while China and America bicker over currencies, Chinese firms are scrambling to buy real assets. And while Aussie banks source foreign borrowing to lend in local real estate, Aussie mining firms go begging for bits of capital that would bring world-class ore bodies (and key strategic resources) into production…by local producers and owners.
November 19th, 2009 | Dan Denning | 1 comment | Continued
$2,000 Gold Prediction
The weekend edition of the Australian Financial Review has gold on the cover, incidentally. You can see a picture of it a few paragraphs down. Underneath the giant golden letters it reads, “Why you shouldn’t laugh about gold hitting $US2000 an oz.” But if anyone’s laughing, it’s a nervous laughter.
November 16th, 2009 | Dan Denning | 8 comments | Continued
E-mail Update for Paid-up Subscribers Only
What is not great is that the e-mail update was then forwarded over 1,000 times, presumably to people who are not paid-up subscribers.
October 23rd, 2009 | Dan Denning | 5 comments | Continued
AUD Price of Gold a Measure of Gold’s Strength Against Other Currencies
Ah. So for gold to move in Aussie dollar terms there has to be more than just a big bear market in the USD. Demand for gold has to rise globally.
October 9th, 2009 | Dan Denning | 2 comments | Continued
Buying Oil on Sale as U.S. Dollar Gets Weaker
Oil did move up overnight in the futures market to US$71.94. And locally, there was more positive news for energy and energy stocks. Bloomberg reports that, “LNG sales from Australia’s biggest resources project may reach A$300 billion over its first 20 years.”
September 11th, 2009 | Dan Denning | 2 comments | Continued
Aussie Gold Price Moves Up
For investors, it means gold is going to have a good solid run at US$1,000. It’s in the neighbourhood already. But in the lead up to the G-20 leader meeting in Pittsburgh later this month, we wouldn’t be surprised to see gold price in a lot more fiat money creation.
September 7th, 2009 | Dan Denning | 15 comments | Continued
Gorgon LNG Deal with China a Really Big Deal
Well just a day after highlighting the size and scope of the Gorgon LNG project in Western Australia, we have news that it really is a big deal. It is so big, in fact, that Martin Ferguson, the Federal Minister for Energy and Resources, said Australia is emerging as an “energy superpower.”
Shazzam!
August 19th, 2009 | Dan Denning | 5 comments | Continued
Giant Costco Opens in Melbourne!
Mind you, we don’t have any problem with lower prices. There’s a bit of snobbery about American attitudes toward Wal-Mart and other giant retailers like Costco. After all, isn’t it a good thing when a large part of the population can reduce the amount of money it spends on basic food and necessities?
August 18th, 2009 | Dan Denning | 11 comments | Continued
Property Sector Has Seen the Value of its Assets Wiped Out
The “wipeout” in the sector was especially bad news for Babcock & Brown, Rubicon Asset Management, and Record Funds Management. These heavily leveraged firms didn’t survive the steep rise in global borrowing costs. It didn’t help that asset values began tumbling when the leveraged dried up.
August 17th, 2009 | Dan Denning | 1 comment | Continued