Vale Supply Issues and a Dovish Fed Sees Optimism Return to the Miners and Overvaluation Grow
The meaningful fall in resources stocks saw pockets of value emerging among the Australian miners in November. The S&P/ASX 200 Resources index fell 15% in less than two months. But since the end of November, shares have rallied on iron ore supply concerns and the apparent easing in the U.S. Federal Reserve’s tightening bias. The resources index is back at five-year highs.We see the greatest overvaluation among the bulk producers, particularly iron ore, which is benefiting from Vale’s disrup...
Regis Resources is a gold producer. Co. and its controlled entities are engaged in the production of gold from the Duketon Gold Project; exploration, evaluation and development of gold projects in the Eastern Goldfields of Western Australia; and exploration and evaluation of the McPhillamys Gold Project in New South Wales. Co. has two reportable segments which comprise the Duketon Gold Project; being Duketon North Operations, comprising the Moolart Well Gold Mine, and Duketon South Operations, incorporating the Garden Well Gold Mine and the Rosemont Gold Mine.
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