Strickland nails more Serbian gold with 10g/t hit at Gradina prospect
Strickland Metals has nailed more high-grade gold with hits of 4 metres at 10.1 grams per tonne (g/t) from 339.5m and 16.7m going 4.3g/t, including 8m at 6g/t from 391.5m from a first hole in the company's recent drilling program at its Gradina prospect in Serbia.
Gradina is part of its huge 7.4 million-ounce gold-equivalent Rogozna project in southern Serbia. Unlike the project's Shanac, Medenovac and Copper Canyon deposits, which include valuable silver, copper, zinc and lead, Gradina appears to be a gold-only prospect.
The strong results came from the deposit's northern end and extend the known high-grade mineralisation across 1 kilometre of strike and vertically down to 900m. The company is now on a path to revealing a much-anticipated mineral resource before the end of the year.
The initial diamond drill hole in the recent drilling program, which started in March, was hammered into the northern section of what appears to be a mineralised corridor, defined by previous drilling at the prospect.
Previous impressive drill intervals at Gradina, in the project's southeast section, include gold hits of 32m running 6.8g/t from 595m, 27.5m at 5g/t from 439.8m and 14.3m going 8g/t from 516.9m.
Gradina's mineralisation remains open in all directions, including down-dip and up-dip towards surface. Four drill rigs are feverishly working to grow the resource for the maiden reveal later this year, testing for up-dip extensions and infill drilling to support the anticipated maiden resource. An additional two rigs are working at the project's premier deposit Shanac and at Kotlovi.
'Our expectation is that Gradina will deliver considerable high-grade ounces to the Rogozna resource inventory by late-2025.'
Strickland Metals managing director Paul L'Herpiniere
A seventh rig is expected to motor towards the project in the coming weeks, as the company continues ratcheting up exploration. It plans to run a whopping 50,000m diamond drill campaign this year at the fully owned project.
The company still has a stash of cash in its kitty and liquid assets totalling $34.8 million at the end of March, along with a head-turning $5M strategic investment received in April from US$60 billion Chinese mining firm Zijin Mining.
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The Advertiser
7 hours ago
- The Advertiser
Stocks stall as investors watch US-China trade talks
Global stocks and the dollar have held steady as trade talks between the United States and China continued into a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing. US Commerce Secretary Howard Lutnick said discussions between the two sides were going well, while President Donald Trump on Monday put a positive spin on the talks after Monday's session. Lutnick, together with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met their Chinese counterparts in London. Any progress in the negotiations is likely to provide relief to markets given that Trump's often-shifting tariff announcements and swings in Sino-US ties have undermined the two economies, disrupted supply chains and threaten to hobble global growth. World stocks, as reflected by the MSCI All-Country World index, traded near record highs on Tuesday while the dollar steadied against a range of currencies. "While market participants are clearly taking a glass half-full view of the outlook, both on trade policy and more broadly, we don't think that should be interpreted as a view that tariffs will be fully unwound," said Jonas Goltermann, deputy chief markets economist at Capital Economics. Goltermann anticipates US duties on Chinese goods to settle at around 40 per cent, while most analysts have said that the universal 10 per cent levy on imports into the United States is here to stay. In Europe the STOXX 600 edged lower, led by UBS whose shares dropped seven per cent as investors worried about the impact of new government proposals to force the Swiss bank to hold $US26 billion in extra capital. US stock futures were trading around 0.1 per cent higher. Meanwhile in Tokyo, Finance Minister Katsunobu Kato said policymakers were looking at measures to promote domestic ownership of Japanese government bonds, a day after Reuters reported that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB was flat at 1.47 per cent, while 30-year yields were up one basis point at 2.92 per cent, having retreated from late May's record high of 3.18 per cent. The yen strengthened throughout the day, leaving the dollar roughly unchanged on the day around 144.5 yen, while the euro also turned positive, up 0.1 per cent at $US1.1428. The pound dropped 0.3 per cent to $US1.35 after weak UK employment data. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent this year. "It's not that the Americans are blowing up their fiscal situation because the deficit is going to remain more or less stable. But the quality of the deficit has degenerated," said Samy Chaar, an economist at Lombard Odier. "If you invest, and spend on productive investments, you'll get macro payoffs, because you're going to develop an industry, you're going to strengthen your economy, you're going to create jobs, you have a payoff. "If you spend by basically reducing revenues because you cut taxes on people who don't need the money, they won't be consuming more, or investing more, so the macro payoff is more limited." US Treasuries were yielding around 4.45 per cent, down 3.4 basis points on the day. Data on US consumer inflation for May due out on Wednesday could show the impact on tariffs on goods prices. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders expect the Fed to leave rates unchanged at its policy meeting next week. Just 44 basis points worth of easing have been priced in by December. In commodity markets, oil prices rose on the back of optimism that Tuesday's US-China talks could ease trade tensions and improve demand for energy, pushing Brent crude up 0.5 per cent to $US67.40 a barrel. Spot gold rose 0.4 per cent to $US3,341 an ounce. Global stocks and the dollar have held steady as trade talks between the United States and China continued into a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing. US Commerce Secretary Howard Lutnick said discussions between the two sides were going well, while President Donald Trump on Monday put a positive spin on the talks after Monday's session. Lutnick, together with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met their Chinese counterparts in London. Any progress in the negotiations is likely to provide relief to markets given that Trump's often-shifting tariff announcements and swings in Sino-US ties have undermined the two economies, disrupted supply chains and threaten to hobble global growth. World stocks, as reflected by the MSCI All-Country World index, traded near record highs on Tuesday while the dollar steadied against a range of currencies. "While market participants are clearly taking a glass half-full view of the outlook, both on trade policy and more broadly, we don't think that should be interpreted as a view that tariffs will be fully unwound," said Jonas Goltermann, deputy chief markets economist at Capital Economics. Goltermann anticipates US duties on Chinese goods to settle at around 40 per cent, while most analysts have said that the universal 10 per cent levy on imports into the United States is here to stay. In Europe the STOXX 600 edged lower, led by UBS whose shares dropped seven per cent as investors worried about the impact of new government proposals to force the Swiss bank to hold $US26 billion in extra capital. US stock futures were trading around 0.1 per cent higher. Meanwhile in Tokyo, Finance Minister Katsunobu Kato said policymakers were looking at measures to promote domestic ownership of Japanese government bonds, a day after Reuters reported that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB was flat at 1.47 per cent, while 30-year yields were up one basis point at 2.92 per cent, having retreated from late May's record high of 3.18 per cent. The yen strengthened throughout the day, leaving the dollar roughly unchanged on the day around 144.5 yen, while the euro also turned positive, up 0.1 per cent at $US1.1428. The pound dropped 0.3 per cent to $US1.35 after weak UK employment data. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent this year. "It's not that the Americans are blowing up their fiscal situation because the deficit is going to remain more or less stable. But the quality of the deficit has degenerated," said Samy Chaar, an economist at Lombard Odier. "If you invest, and spend on productive investments, you'll get macro payoffs, because you're going to develop an industry, you're going to strengthen your economy, you're going to create jobs, you have a payoff. "If you spend by basically reducing revenues because you cut taxes on people who don't need the money, they won't be consuming more, or investing more, so the macro payoff is more limited." US Treasuries were yielding around 4.45 per cent, down 3.4 basis points on the day. Data on US consumer inflation for May due out on Wednesday could show the impact on tariffs on goods prices. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders expect the Fed to leave rates unchanged at its policy meeting next week. Just 44 basis points worth of easing have been priced in by December. In commodity markets, oil prices rose on the back of optimism that Tuesday's US-China talks could ease trade tensions and improve demand for energy, pushing Brent crude up 0.5 per cent to $US67.40 a barrel. Spot gold rose 0.4 per cent to $US3,341 an ounce. Global stocks and the dollar have held steady as trade talks between the United States and China continued into a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing. US Commerce Secretary Howard Lutnick said discussions between the two sides were going well, while President Donald Trump on Monday put a positive spin on the talks after Monday's session. Lutnick, together with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met their Chinese counterparts in London. Any progress in the negotiations is likely to provide relief to markets given that Trump's often-shifting tariff announcements and swings in Sino-US ties have undermined the two economies, disrupted supply chains and threaten to hobble global growth. World stocks, as reflected by the MSCI All-Country World index, traded near record highs on Tuesday while the dollar steadied against a range of currencies. "While market participants are clearly taking a glass half-full view of the outlook, both on trade policy and more broadly, we don't think that should be interpreted as a view that tariffs will be fully unwound," said Jonas Goltermann, deputy chief markets economist at Capital Economics. Goltermann anticipates US duties on Chinese goods to settle at around 40 per cent, while most analysts have said that the universal 10 per cent levy on imports into the United States is here to stay. In Europe the STOXX 600 edged lower, led by UBS whose shares dropped seven per cent as investors worried about the impact of new government proposals to force the Swiss bank to hold $US26 billion in extra capital. US stock futures were trading around 0.1 per cent higher. Meanwhile in Tokyo, Finance Minister Katsunobu Kato said policymakers were looking at measures to promote domestic ownership of Japanese government bonds, a day after Reuters reported that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB was flat at 1.47 per cent, while 30-year yields were up one basis point at 2.92 per cent, having retreated from late May's record high of 3.18 per cent. The yen strengthened throughout the day, leaving the dollar roughly unchanged on the day around 144.5 yen, while the euro also turned positive, up 0.1 per cent at $US1.1428. The pound dropped 0.3 per cent to $US1.35 after weak UK employment data. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent this year. "It's not that the Americans are blowing up their fiscal situation because the deficit is going to remain more or less stable. But the quality of the deficit has degenerated," said Samy Chaar, an economist at Lombard Odier. "If you invest, and spend on productive investments, you'll get macro payoffs, because you're going to develop an industry, you're going to strengthen your economy, you're going to create jobs, you have a payoff. "If you spend by basically reducing revenues because you cut taxes on people who don't need the money, they won't be consuming more, or investing more, so the macro payoff is more limited." US Treasuries were yielding around 4.45 per cent, down 3.4 basis points on the day. Data on US consumer inflation for May due out on Wednesday could show the impact on tariffs on goods prices. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders expect the Fed to leave rates unchanged at its policy meeting next week. Just 44 basis points worth of easing have been priced in by December. In commodity markets, oil prices rose on the back of optimism that Tuesday's US-China talks could ease trade tensions and improve demand for energy, pushing Brent crude up 0.5 per cent to $US67.40 a barrel. Spot gold rose 0.4 per cent to $US3,341 an ounce. Global stocks and the dollar have held steady as trade talks between the United States and China continued into a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing. US Commerce Secretary Howard Lutnick said discussions between the two sides were going well, while President Donald Trump on Monday put a positive spin on the talks after Monday's session. Lutnick, together with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met their Chinese counterparts in London. Any progress in the negotiations is likely to provide relief to markets given that Trump's often-shifting tariff announcements and swings in Sino-US ties have undermined the two economies, disrupted supply chains and threaten to hobble global growth. World stocks, as reflected by the MSCI All-Country World index, traded near record highs on Tuesday while the dollar steadied against a range of currencies. "While market participants are clearly taking a glass half-full view of the outlook, both on trade policy and more broadly, we don't think that should be interpreted as a view that tariffs will be fully unwound," said Jonas Goltermann, deputy chief markets economist at Capital Economics. Goltermann anticipates US duties on Chinese goods to settle at around 40 per cent, while most analysts have said that the universal 10 per cent levy on imports into the United States is here to stay. In Europe the STOXX 600 edged lower, led by UBS whose shares dropped seven per cent as investors worried about the impact of new government proposals to force the Swiss bank to hold $US26 billion in extra capital. US stock futures were trading around 0.1 per cent higher. Meanwhile in Tokyo, Finance Minister Katsunobu Kato said policymakers were looking at measures to promote domestic ownership of Japanese government bonds, a day after Reuters reported that Japan is considering buying back some super-long government bonds issued in the past at low interest rates. The yield on the 10-year JGB was flat at 1.47 per cent, while 30-year yields were up one basis point at 2.92 per cent, having retreated from late May's record high of 3.18 per cent. The yen strengthened throughout the day, leaving the dollar roughly unchanged on the day around 144.5 yen, while the euro also turned positive, up 0.1 per cent at $US1.1428. The pound dropped 0.3 per cent to $US1.35 after weak UK employment data. Trump's erratic trade policies and worries over Washington's growing debt pile have dented investor confidence in US assets, in turn undermining the dollar, which has already fallen more than eight per cent this year. "It's not that the Americans are blowing up their fiscal situation because the deficit is going to remain more or less stable. But the quality of the deficit has degenerated," said Samy Chaar, an economist at Lombard Odier. "If you invest, and spend on productive investments, you'll get macro payoffs, because you're going to develop an industry, you're going to strengthen your economy, you're going to create jobs, you have a payoff. "If you spend by basically reducing revenues because you cut taxes on people who don't need the money, they won't be consuming more, or investing more, so the macro payoff is more limited." US Treasuries were yielding around 4.45 per cent, down 3.4 basis points on the day. Data on US consumer inflation for May due out on Wednesday could show the impact on tariffs on goods prices. The producer price index (PPI) report will be released a day later. "May's US CPI and PPI data will be scrutinised for signs of lingering inflationary pressures," said Convera's FX and macro strategist Kevin Ford. "If core CPI remains elevated, expectations for rate cuts could be pushed beyond the June 18 FOMC meeting." Traders expect the Fed to leave rates unchanged at its policy meeting next week. Just 44 basis points worth of easing have been priced in by December. In commodity markets, oil prices rose on the back of optimism that Tuesday's US-China talks could ease trade tensions and improve demand for energy, pushing Brent crude up 0.5 per cent to $US67.40 a barrel. Spot gold rose 0.4 per cent to $US3,341 an ounce.
West Australian
12 hours ago
- West Australian
‘Hopeium' of rate cuts and trade talks drives ASX 200 higher
Refreshed from the King's Birthday long weekend, the ASX 200 has surged to a new record close on Tuesday thanks to trade talks and renewed hope for a rate cut in July. The benchmark ASX 200 index surged 71.50 points or 0.84 per cent to 8,587.20, surpassing its previous record close of 8,555.8 set back on February 14. The broader All Ordinaries also jumped 70.80 points or 0.81 per cent to 8,812.70. The Australian dollar slid marginally during trading, but is still buying more than 65 US cents. On an overall strong day of trading 10 of the 11 sectors finished in the green led by the big banks, consumer discretionary and technology stocks. Zip was the best performing stock on the ASX 200 as it surged more than 6 per cent to $2.32, while Tabcorp shares jumped 5.71 per cent to $0.74 and Pilbara Minerals also jumped 5.46 per cent to $1.35. CBA continued to retest its own record highs, jumping a further 1.17 per cent to $182 with Australia's biggest bank now having a market capitalisation of $304.10bn. NAB shares jumped 1.53 per cent to $39.17, Westpac climbed 0.96 per cent to $33.50 and ANZ gained 1.12 per cent to $29.83. IG Market analyst Tony Sycamore said the banks were continuing their run up from the April lows on the back of falling rates spurring on the housing and credit markets. 'If rates fall back to 3.1 per cent, which is close to where we think neutral is for the RBA, that improves affordability which adds more demand for credit for the big banks,' he said. 'What happens to their margins? I don't think there's much of a difference between 3.85 or 3.1 per cent, there's still enough fat on the bone to make their generous profits.' The tech sector closed 1.6 per cent higher with shares in NextDC soaring 5.16 per cent to $13.86, while WiseTech Global jumped 2.36 per cent to $108.01 and Xero climbed 1.82 per cent to $192.10. On a heavy macro economic day, there were a number of factors driving the local bourse. In China deflation deepened to its worst level in almost two years in May, while US job figures came in hotter than expected although this was only due to the participation rate plummeting. There were also renewed hopes of a trade talk between the US and China, although US President Donald Trump said the discussions so far had been positive but 'not easy', while Treasury Secretary Scott Bessent called it a good meeting. Domestically, Australia's latest Westpac consumer sentiment index was released, showing Australians are feeling 'cautiously pessimistic.' Mr Sycamore said a combination of stronger than expected international news and renewed hopes of a rate cut domestically helped spur on the local market. 'When you put the weak China number together with weak consumer confidence in Australia and dig below the surface in the US job numbers, it is probably arguing for more rate cuts from central banks, which is probably the hopeium that drives these stock markets,' he said. 'Along with hopes of trade deals, that is why we are still near a record high.' In company news, shares in Monash IVF Group slumped 26.85 per cent to $0.545 after the fertility giant announced an embryo mix-up at its Melbourne laboratory, meaning the wrong embryo was implanted into a patient.
Perth Now
12 hours ago
- Perth Now
ASX sets record close as banks soar
Refreshed from the King's Birthday long weekend, the ASX 200 has surged to a new record close on Tuesday thanks to trade talks and renewed hope for a rate cut in July. The benchmark ASX 200 index surged 71.50 points or 0.84 per cent to 8,587.20, surpassing its previous record close of 8,555.8 set back on February 14. The broader All Ordinaries also jumped 70.80 points or 0.81 per cent to 8,812.70. The Australian dollar slid marginally during trading, but is still buying more than 65 US cents. On an overall strong day of trading 10 of the 11 sectors finished in the green led by the big banks, consumer discretionary and technology stocks. ASX shares soared on the back of renewed rate cut hopes. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia Zip was the best performing stock on the ASX 200 as it surged more than 6 per cent to $2.32, while Tabcorp shares jumped 5.71 per cent to $0.74 and Pilbara Minerals also jumped 5.46 per cent to $1.35. CBA continued to retest its own record highs, jumping a further 1.17 per cent to $182 with Australia's biggest bank now having a market capitalisation of $304.10bn. NAB shares jumped 1.53 per cent to $39.17, Westpac climbed 0.96 per cent to $33.50 and ANZ gained 1.12 per cent to $29.83. IG Market analyst Tony Sycamore said the banks were continuing their run up from the April lows on the back of falling rates spurring on the housing and credit markets. 'If rates fall back to 3.1 per cent, which is close to where we think neutral is for the RBA, that improves affordability which adds more demand for credit for the big banks,' he said. 'What happens to their margins? I don't think there's much of a difference between 3.85 or 3.1 per cent, there's still enough fat on the bone to make their generous profits.' The tech sector closed 1.6 per cent higher with shares in NextDC soaring 5.16 per cent to $13.86, while WiseTech Global jumped 2.36 per cent to $108.01 and Xero climbed 1.82 per cent to $192.10. On a heavy macro economic day, there were a number of factors driving the local bourse. In China deflation deepened to its worst level in almost two years in May, while US job figures came in hotter than expected although this was only due to the participation rate plummeting. Ten of the 11 sectors finished in the green. NewsWire / Max Mason-Hubers Credit: News Corp Australia There were also renewed hopes of a trade talk between the US and China, although US President Donald Trump said the discussions so far had been positive but 'not easy', while Treasury Secretary Scott Bessent called it a good meeting. Domestically, Australia's latest Westpac consumer sentiment index was released, showing Australians are feeling 'cautiously pessimistic.' Mr Sycamore said a combination of stronger than expected international news and renewed hopes of a rate cut domestically helped spur on the local market. 'When you put the weak China number together with weak consumer confidence in Australia and dig below the surface in the US job numbers, it is probably arguing for more rate cuts from central banks, which is probably the hopeium that drives these stock markets,' he said. 'Along with hopes of trade deals, that is why we are still near a record high.' In company news, shares in Monash IVF Group slumped 26.85 per cent to $0.545 after the fertility giant announced an embryo mix-up at its Melbourne laboratory, meaning the wrong embryo was implanted into a patient.
