The Pre-Start

  • LIN ($1.6B) - Lindian opened a Singapore office to internalise international sales

  • BNZ ($708m) - Benz set a 485–540Mt at 0.6–0.7 g/t Au (10.1–12Moz Au) Exploration Target for the Glenburgh project, c.80% drill-defined

  • AEU ($170m) - Atomic Eagle secured ESIA and RAP approvals for the Muntanga uranium project, Zambia, clearing key permits ahead of potential construction

  • EMH ($70m) - European Metals flagged LCP flowsheet changes at the Cinovec project that could cut reagent costs by US$51m p.a. and power by US$3.4m p.a., potentially lifting the DFS pre-tax NPV₈ of US$1.5B

  • TNC ($57m) - True North is progressing the Cloncurry Copper PFS, targeting Q4 2026 completion and integrating Mongoose–Taipan into mine design studies

  • RTR ($56m) - Rumble upgraded the Western Queen MRE to 5.1Mt at 2.6 g/t gold for 434koz, and outlined a 145kt at 11.3 g/t zone for 52.5koz, with BFS due in the Sept quarter

  • GW1 ($38m) - Greenwing started bulk brine sampling at the San Jorge lithium project in Catamarca, to supply DLE testwork

  • PR1 ($36m) - Pure Resources and Rice’s CNTF thermal-management tech achieved 'Awardable' status on DARPA's ERIS Marketplace, making it selectable by DoD

  • CTO ($33m) - Citigold received a loan default notice and is negotiating a $1.7m settlement; the lender has removed Charters Towers Gold's directors

  • LEX ($33m) - Lefroy reported 97% gold recovery from oxide and fresh domains at Burns, WA; an MRE update is due in Q3

High Grade It

  • DRC mandates 10% equity for nationals in cobalt and copper mining (Mining.com)

  • BHP faces potential strikes at Port Hedland as unions demand pay negotiations (West)

  • Fortescue parts with China president Alvin Liu amid decarbonisation efforts (Australian)

  • BHP & Rio advance electric haul truck trials to decarbonise Pilbara operations (BN)

  • Deutsche Bank cuts gold price forecast by 22% amid US policy concerns (Bloomberg)

Wheelin’ n Dealin’

  • NIC ($4.1B) - Nickel Industries will invest US$169m for 17.5% of the TMI HPAL at IMIP, with construction guarantee to deliver nameplate by Sep 2027

  • TEA ($2.4B) - Tasmea will acquire JPS for up to $75m, comprising $50m upfront and up to $25m earn-outs over four years

  • TVN ($602m) - Tivan has signed non-binding key terms with Sumitomo and ETFS Capital for up to $50m of staged funding into Molyhil, with Tivan keeping 82.5% at FID

  • Energy Fuels acquires Germany's Vacuumschmelze for US$1.9B to expand rare earths magnet production (Reuters)

  • Iluka secures first rare earths offtake deal with mystery global automotive buyer from Eneabba refinery (West)

Rattlin’ the Tin

  • AMI ($525m) - Aurelia closed $150m senior secured facilities (Citi/Swiss Re via Credeq/HSBC) — $110m RBF, $40m RCF — releasing $46m restricted cash

  • SVL ($276m) - Silver Mines completed the underwritten SVLAZ option exercise, raising $7.6m

  • CP8 ($56m) - Canadian Phosphate raised ~$5m via a rights issue and follow-on placement for Wapiti drilling

  • Vedanta plans to raise US$372m from Zambia copper mines IPO (Bloomberg)

  • Hyundai and Korea Overseas Infrastructure back ioneer's Rhyolite Ridge lithium-boron project in Nevada (Mining.com)

Word on the Decline

  • Ramelius has circled Carosue Dam before, but timing has always been the problem. Northern Star did not need to sell, and RMS did not need to overpay.

  • Elliott changes the first half of that equation.

Got Word on the Decline? Reply or email [email protected]. We will always take your privacy seriously.

Ownership & Oversight

  • ZNC ($67m) - Forrestania lifted its stake in Zenith to 14.8% via off-market takeover acceptances

  • TNC ($57m) - Glencore sold $1.3m of True North shares, cutting its stake to 6.3%

In the Weeds

  • USA All The Time (YWR) Do US markets continue to suck all the world’s liquidity?

  • Diggers 2026 — Going for Gold (Strictly Boardroom)

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