Bulks Defying Longer-Term Risks but Sell-Off in Base Metals and Gold Sees Pockets of Value
We still see significant risks for the miners and think the stocks overall are overvalued. Buoyant commodity and share prices do not reflect the inevitable shift in China’s economic growth towards less commodity consuming activities, and the market has taken too much comfort from the stimulus-fuelled recovery. The underlying sources of instability--poor quality lending in China and growing leverage are yet to be addressed. We see the greatest overvaluation among the bulk miners--those exposed to...Sandfire Resources is a mining and exploration company. Co. is engaged in the production and sale of copper, gold and silver; and the exploration and evaluation of mineral tenements and projects in Australia and overseas. Co. has two operating segments: The DeGrussa Copper Mine, a copper-gold mine located in the Bryah Basin mineral province of Western Australia; and Exploration and evaluation, which includes exploration and evaluation of the mineral tenements in Australia and overseas, including exploring for potential repeats of the DeGrussa Volcanogenic Massive Sulphide mineralised system at the Doolgunna Projects and Co.'s investment in Tintina Resources Inc and WCB Resources Ltd.
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