Far East Capital Newsletter
Ardea Resources shows what can be done if the project is right
9 Jul 2023

In This Issue

Ardea Resources shows what can be done if the project is right

The new financial year started well, initially. The abatement of the selling enabled a number of the junior stocks to bounce off their lows but as the week progressed the weaker US market caused a wave of selling, particularly in the leaders such as BHP. The subdued economic recovery in China is not doing us any favours. We are still searching for a driver in the markets.

Many market participants are off on holidays at present and that always slows things down. July is typically a slow month with enthusiasm being muted. Often it is not until the Diggers and Dealers Conference that sentiment starts to inspire some confidence, early in August, and momentum starts to pick up. I will be joining the Australian crowd that has flown overseas, taking a three week break with the family in the USA. There may or may not be Weeklies produced in this period, depending upon competing priorities.

Ardea Resources surged last week on news of a deal with Sumitomo Metal Mining, Mitsubishi Corporation and Mitsui, three heavyweights from Japan. Although the MoU is non-binding, it nevertheless is good testament to the quality Kalgoorlie Nickel Project - Goongarrie Hub. 

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