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Western Desert Resources is on track to start shipping iron ore in October to the buoyant, China-backed market from its flagship Roper Bar project in Australia’s Northern Territory, Foster Stockbroking said.

Australian explorer Corazon Mining’s plan to conduct exploration drilling at its Top Up Rise project in Western Australia has a potentially massive upside if it pans out, corporate advisor Hartleys said.

Uncertainty surrounding the expansion of the Esperance port has taken its toll on Jupiter Mines, with Foster Stockbroking lowering its valuation of the company.
During the December quarter 2012, Jupiter announced that it would withdraw from its participation in the port expansion, after halting feasibility work at its Mt Ida iron ore project.
The company ceased activities at Mt Ida, in Western Australia’s Yilgarn region, on the back of higher than anticipated capital and operating costs along with adverse commodity and currency conditions.

A mixed bag from silver and gold producer and explorer Santa Fe Gold Coporation second quarter and first half results has convinced London investment bank VSA capital to maintain its BUY recommendation.
A strong set of numbers emerged from the company’s southwestern US operations base but its failure to convert its operational successes into sales continues to frustrate investors.

London-based Ariana Resources is on track for its first gold pour in 2014 at its Kiziltepe gold-silver project in Turkey following the submission of documents for the environmental approvals process, said equity research firm GECR.

London investment bank VSA Capital believes TSX-listed Tertiary Minerals’ announcement yesterday that it is targeting 85-105Mt at 9-11% fluorspar from its MB project in Nevada justifies is recent upgrade in valuation.
The company said it had confirmed the “world class potential” of the project but reiterated that the published figure was an estimate only under the JORC code and further drilling would be required to deliver those tonnes as a resource.

Canadian investment bank Haywood Securities believes a combination of plus 4Moz in the ground, further exploration potential, a decreasing risk profile, and an opportunity for regional consolidation makes junior gold developer Moneta Porcupine Mines a smart investment.
Moneta is developing the 4.3Moz Golden Highway project in the prolific Timmins Camp of northern Ontario, which has historic production of more than 85Moz and where the junior is the fourth largest landowner.

Australian junior explorer Spitfire Resources’ 2013 drilling program could lead to the discovery of the additional resources needed to boost the company onto a development platform, according to broker DJ Carmichael.
Spitfire has defined 11 targets at its Woodie Woodie South manganese project in Western Australia’s eastern Pilbara with the Australian broker forecasting additional discoveries in 2013 and maintaining its speculative buy tag.

The start of production at the Premier gold project in Brazil should deliver solid returns over the next 12 months for shareholders in Australian junior Cleveland Mining, broker DJ Carmichael reports.
The Australian broker maintained its speculative buy recommendation for the company, with the proviso it needs a more focused marketing strategy and positive news flow throughout 2013.
“We see everything going to plan at this point and maintain our speculative buy recommendation,” the firm said in a research note.

Santa Fe Gold anticipates substantial improvements in performance and profitability after December quarter equipment availability and haulage-to-mill issues at the Summit gold and silver mine in New Mexico, USA.
The company anticipates annualised revenues during H2 2013 could approach $US35M, versus the current $20M.
In a research note, London-based VSA Capital says progress towards stabilised production and increasing ore grades over the prior quarter is encouraging.

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