Aeris Raising $70m to Repair Balance Sheet

Meeka marches ahead at Murchison; Resolute buys new projects

May 01, 2025

The Pre-Start

  • Meeka Metals mined first ore from the open pits at Murchison as its processing plant expansion works continue, gearing for commissioning in June (MEK)

  • Challenger Gold advised the refurbishment of the Casposo plant (where it will toll mill its ore to) is on track for the start up of commercial ops in H2 CY25 (CEL)

  • Kingsgate produced ~21koz Au and ~162koz Ag this quarter at an AISC of US$1,839/oz, closing with $59.5m cash & bullion (KCN)

  • Tempest revealed a 63.5 Mt @ 30.6% Fe resource at its Remorse magnetite project (TEM)

  • Warriedar has revealed a maiden open-pit antimony resource on its Ricciardo project of 12.2Mt at 0.5% Sb for 60.3kt contained Sb (WA8)

  • Quentin Flannery’s family office Ilwella Pty Ltd, has trimmed its position in Bowen Coking Coal to under 5% (BCB)

  • Focus wrapped up the Q with ~$21m cash (FML); Turaco ~$26m cash, with 3 drill rigs (TCG), Geopacific ~$34m cash (GPR); Minerals 260 ~$6m cash pre-$220m raise (MI6); Cyprium $17m cash (CYM); Kairos $12m cash (KAI)

  • Boab Metals acquired the DeGrussa processing plant from Sandfire for $10 million to be used at its Sorby Hills lead-silver project (BML)

  • Blackstone reported assay results from Mankayan, including 608m at 0.89% CuEq from 342m to end of hole (BSX)

  • New Murchison Gold appointed Derek Humphry as CFO and Kim Gundersen as GM Operations, while finishing the Q with ~$22m cash (NMG)

  • Kathleen Bozanic joined the board of WA1 as a NED, and will also assume the role of Chair from 1 July to replace retiring Chair Gary Lethridge (WA1)

  • Rob Waugh joined the board of Horizon Minerals as a NED (HRZ)

  • Antipa shared a new presentation

High Grade It

  • China’s factory activity slipped into the worst contraction since December 2023, revealing early damage from Donald Trump’s tariffs (AFR)

  • IGO signals its close to pulling the plug on Kwinana (West)

  • Report into Lynas water deal finds no misconduct by Kalgoorlie-Boulder council (ABC News) yet the report will not be released!

  • Macmahon secured the underground contract at Vault’s Deflector for two years (GMR)

  • Glencore stock plummets after copper production drops 30% (Mining.com)

  • Westgold needs a good Q4 to meet previously reduced guidance (MNN)

  • Frustrated Regis lands McPhillamys court date for this December (West)

  • Sierra Madre has restarted the Coloso silver mine in Mexico (Northern Miner)

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Wheelin’ n Dealin’

  • Resolute has acquired AngloGold’s Doropo and ABC projects in Côte d’Ivoire for US$150m in staged payments, a 2% NSR, US$10m contingent and transfer of Resolute’s Guinea exploration permits (RSG) 2024 Doropo DFS pens 10yr production at 167kozpa from US$373m capex

  • Zijin Mining plans to spin-off its overseas gold assets under a new subsidiary with Hong Kong listing (Mining.com)

  • Lithium Energy received US$26m cash as Tranche 1 of the staged sale of the company’s interest in the Solaroz lithium brine project (LEL)

  • Ioneer is ‘confident’ in finding a Rhyolite Ridge investor at a higher valuation after Sibanye-Stillwater withdrew (FT)

  • Karoon Energy completed the acquisition of the Bauna FPSO (KAR)

  • Dreadnought and a subsidiary of Teck Resources entered into a farm-in and JV agreement to advance the Money Intrusion Ni-Cu-Co-PGE prospect at Mangaroon in WA (DRE) Up to $15m exploration expenditure within 6.5 yrs to earn a 75% interest

Rattlin’ the Tin

  • Southern Cross Gold upsized its previously announced placement to raise C$143m to fund drilling, study & development activities at its Sunday Creek project (SX2)

  • According to Street Talk, Aeris Resources was gathering support for a $70m equity raising (AFR), with the company in trading halt this morning pending a capital raising and debt refinancing (AIS)

  • Toubani received firm commitments to raise $29 million, ~$15m coming from Gaurav Gupta’s family office, Eagle Eye Asset Holdings (TRE) additionally Toubani received a letter non-binding debt commitment from Eagle Eye for US$160m debt facility to finance its Koboda gold in Mali project for development

In the Weeds

  • The Five Seconds That Plunged Spain Into Darkness (Bloomberg)

  • Metals get outsized exemptions from 'reciprocal' tariffs amid trade probes (CapitalQ)

  • The case for holding resources in an Australian small caps fund (Livewire)

  • 10 active funds that trumped the market in early 2025 (Livewire)

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Today’s Top Tweet

Devil’s in the Detail

There was a grand total of +1,200 announcements released on ASX yesterday, the last day of the March 2025 reporting period.

Any guesses on how many were quarterly reports (or quarterly reports released after market)? It never ceases to amaze us!

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