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)
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)
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
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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