CMM ($7.0B) - Capricorn has the expanded Karlawinda operation processing ore at 6.5Mtpa, guiding to ~150koz gold p.a. for >10 years

IGO ($5.2B) - IGO retracted a non-compliant South Iron Cap exploration target from its 2026 annual report

SX2 ($3.5B) - Southern Cross' mining licence application at Sunday Creek's Golden Dyke was accepted by Resources Victoria; decision due within 120 days

PMT ($846m) - PMET completed Phase 2 caesium testwork with Koch Tech; next is a proof‑of‑concept producing caesium chemical samples

A4N ($784m) - Alpha HPA signed an MOU with a South Korea customer to supply 1,700tpa HPA, upgrading a 1,400tpa LOI

TVN ($458m) - Tivan will pay $50k after breaching a heritage agreement at the Speewah

BM1 ($323m) - Ballard lifted the Mt Ida Gold MRE to 20.4Mt at 2.8 g/t gold for 1.8Moz, up 56% | ▲ 10%

PTN ($77m) - Patronus intersected 44m at 0.76 g/t gold from 96m, ending in mineralisation, at Hydra within the Pine Creek project, NT | ▼ 6%

GGM ($69m) - Global Gold’s Sturec metallurgy achieved up to 91.4% gold recovery to flotation concentrate, guiding a regrind two‑stage‑cleaning flowsheet

MRD ($64m) - Mt Ridley's Phase 2 re-assays at Grass Patch outlined scandium up to 8km beyond Blocks 1 & 2, with 40m at 102 ppm Sc₂O₃ from 18m

AUZ ($59m) - Australian Mines appointed a specialist team to deliver the Flemington Scandium PFS in NSW by Q1 CY27, with 60tpa Sc₂O₃ as the base case and up to 180tpa assessed | ▲ 5%

ANX ($58m) - Anax reported infill drilling at Mons Cupri, Whim Creek with 85.9m at 2.9% CuEq from 34.6m | ▲ 26%

QML ($51m) - QMines reported 44m at 1.03% Cu from 103m at Mt Chalmers

AGC ($45m) - Australian Gold & Copper reported 14m at 5.6% Zn from 195m at Evergreen, including 1m at 26.4% Zn from 196m

TKM ($40m) - Trek Metals reported assays from Kuro: 15m at 20.5% Mn from 6m; 38 of 72 returned >5% Mn

PTR ($40m) - PTR identified aquifers at three targets at the Rosewood Titanium project, underpinning water supply; heritage survey cleared infill drilling

GWR ($39m) - GWR completed a $19.9m capital return, paying $0.061 per share

LM1 ($28m) - Leeuwin confirmed gold in tailings at Marda Gold: 10 1m samples averaged 0.60 g/t; 12k m³ identified

Bellevue incurs $200m loss from hedging contracts with Macquarie (AFR)

Indonesia's Morowali Industrial Park cuts nickel pig iron output due to El Niño-driven drought (Bloomberg)

Tianqi’s CEO Frank Ha warns lack of green lithium pricing mechanism threatens decarbonised investment (BN)

China's gold imports exceed 1kt by August, driven by strong investment demand (Bloomberg)

ELE.TO (C$1.9B) - Elemental announced the US$290m acquisition of a portfolio of 5 royalties & streams from Orion, paying US$200m cash + US$90m equity

A1M ($636m) - AIC will acquire 100% of the Mt Cuthbert copper project for $120m ($100m scrip, $20m cash) from Dragon Field Int’l & others, alongside a $70m placement to Hawke's Point at 79.5c, adding 18.7Mt at 1.3% Cu for 246kt | Call at 9am AWST

GL1 ($185m) - Global Lithium's acquisition of 100% of the Nova Operation from IGO is unconditional after ACCC waiver

FZR ($33m) - Fitzroy River satisfied conditions for the $17.5m sale of Bowdens Silver royalty and intends to return most proceeds to shareholders

India's Lohum seeks to acquire nickel mines in Indonesia and the Philippines (Reuters)

Vale acquires 30% of Ligga iron ore mine in Brazil for $190m (Mining.com)

AMI ($834m) - Aurelia secured a new $150m financing facility comprising a $40m RCF and $110m performance bond facility

SLVR.TO (C$526m) - Silver Tiger announced a C$87m bought deal

MEK ($434m) - Meeka entered a trading halt pending a $30m raise

SVL ($388m) - Silver Mines raised $70m at 14.5c

AUE ($231m) - Aurum received firm commitments for $52.5m at 55c, taking cash to $95m

VBX ($67m) - VBX raised $7m at 64c

UM1 ($31m) - Unity Metals entered a trading halt pending a capital raise

Unico Silver, backed by Eric Sprott, seeks $60m in equity on the ASX (AFR)

Abenojar Tungsten plans London IPO, driven by Europe's critical metal supply strategy (Bloomberg)

Harmony Gold issues $500m convertible bond for Australian copper projects, including CSA mine and Eva project (MiningMX)

Nth Cycle signs $1B offtake with Glencore before US public listing (Reuters)

Normandy raises $12m for ASX debut, targeting Halleys open pit resource (BN)

Manda Resources appoints new MD, eyes ASX listing later this year (BN)

Gladiator Metals lists on Australia's National Stock Exchange, marking its largest listing in a decade at $259m (West)

Anax is starting to look interesting beyond the drill bit. Today’s Mons Cupri hits, (inc 86m at 2.89% CuEq) have the stock up ~25%.

Meanwhile Whim Creek’s February study spits out A$501m pre-tax NPV₇ from ~A$91m development capital, with ~13ktpa CuEq production over the first eight years. Yes it’s small scale, but the appeal is the low capital startup, if you believe the numbers.

With small-cap ASX copper M&A aplenty over the last two months (Carnaby and Cygnus sold, Hammer contested and AIC Mines acquisition today), one theory feels worth floating. Develop already owns 20% of Whim Creek. At some point, does owning the other 80% simply make more sense?

NWH ($3.7B) - Australian Retirement Trust fell below 5% on NRW

ILU ($2.6B) - Iluka NED Peter Smith retired effective today

BGL ($2.3B) - Bellevue appointed Debra Counsell and Tanya Rybarczyk as directors

CXO ($1.2B) - VanEck took a 6.3% stake in Core, buying $76m of shares

FRS ($803m) - Forrestania director David Geraghty bought shares for $74k

A1M ($636m) - AIC Mines will appoint Clint Donkin MD & CEO, with Aaron Colleran to become Non-Exec Chair

LIB ($51m) - Terra Capital took a 5% stake in Liberty Metals

SFM ($39m) - Santa Fe directors Douglas Rose & Mark Jones bought shares for $400k

Inside Jefferies’ Months-Long Tussle With Glencore Over Radiant (Bloomberg)

Exploration Amplification in WA (Strictly Boardroom)

The Next Inflation Shock: US$1m-a-Day Oil Tankers (op-ed) Cost of hiring up 12x

The Other Invisible Metal (Paulo Macro)