The Pre-Start
ALB.NY (US$23B) - Albemarle’s shares surged 6% after the lithium producer delivered better-than-expected quarterly results as higher prices and stronger volume lifted sales and earnings
DPM ($11.2B) - DPM Metals produced 84koz GEO in Q1, closed with US$575.5m cash (+US$77.7m QoQ) and maintained 2026 guidance | ▲ 8%
ORI ($9.7B) - Orica reported EBIT of $512m and NPAT pre‑SI of $283m, but a $283.7m SI charge largely from the CF litigation settlement resulted in a $0.6m statutory loss; interim dividend 28.5c | ▲ 6%
LIN ($1.4B) - Lindian said Kangankunde construction remains on schedule for Q4 2026 first rare earths production, fully funded with no external debt
BNZ ($664m) - Benz set 11.4m PSUs vesting at 2/4/6moz gold resource milestones, with 3.6m to directors subject to shareholder approval
SMI ($582m) - Santana received OIO consent to buy land for the Bendigo-Ophir gold project, subject to resource consent and NZ$250m capex; first gold targeted early 2028 | ▲ 6%
RXL ($577m) - Rox completed dewatering of the Youanmi Main Pit and will start Main and Pollard declines this month, with earthworks underway
USL ($358m) - Unico Silver hit 11.2m at 1,301 g/t AgEq at Breccia Puntudo, extending mineralisation beyond the Joaquin MRE ahead of PFS | ▲ 5%
MM8 ($334m) - Medallion commenced drilling at Lounge Lizard and Teddy Bear, with validated historical intercepts including 6.0m at 10.0 g/t gold; maiden MRE targeted Q3 2026
AUE ($246m) - Aurum reported 26m at 1.5 g/t gold from 175m at BDT2, extending beyond the current MRE footprint at Boundiali
AA2 ($107m) - Ariana executed a $1m MST with Xinhai, commencing metallurgical drilling at Dokwe and targeting a DFS in Q1 2027
LM8 ($83m) - Lunnon Metals reported 14m at 2.62 g/t gold at Paringa West; first Plentiful EIS hole missed target, second underway
EMH ($69m) - European Metals said the Czech Ministry published the Cinovec EIA and set a hearing; a German cross‑border review has begun
PGO ($54m) - Pacgold reported shallow extensions at Vertigo, 14m at 1.8 g/t gold; Q3 MRE update planned, drilling paused on diesel constraints | ▲ 13%
ODY ($52m) - Odyssey Gold reported 95.9% gold recovery in 8h from Cable starter‑pit composite at Tuckanarra, with 0.37kg/t NaCN and 2.65kg/t lime | ▲ 5%
EVZ ($52m) - EVZ guided to FY26 revenue of $120m-$125m and EBITDA of $8.5m-$9.0m, versus $108m and $5.3m in FY25
VTX ($50m) - Vertex Minerals sold 53oz gold in April, 32oz on hand; DA changes to ease work/blast limits at Reward await council assessment
PTR ($41m) - PTR Minerals received assays, highlighted by 9m at 18.2% HM from 8m, keeping a Q2 Rosewood Titanium MRE on track | ▲ 9%
High Grade It
Simon Trott vows more cost-cutting at Rio as it bets big on copper (AFR)
Rio’s chairman declares the giant is ‘made for the moment’ amid the current turmoil (Australian)
EGA settles disputes with Guinea over bauxite assets, with the West African nation paying a lump sum (National)
G7 trade talks target critical minerals as US-EU tariff rift strains unity (Reuters)
Lloyds to redevelop Panguna copper-gold mine in PNG (Bloomberg)
Perth Mint gold sales rise 6% in April, silver hits 8-month low (Mining.com)
EMR is expected to play for time at Ravenswood as the operation teeters on the brink (Australian)
Abu Dhabi plots Australian gas investment targets (Australian) Potentially targeting Shell’s NWS stake
The Metals Royalty acquires 1% royalty on Mesabi Metallics iron ore project for US$132.5m (Mining.com)
A11 ($232m) - Atlantic Lithium signed a SID for Zhejiang Huayou Cobalt to acquire it via a cash scheme at US$0.25486/share (A$0.354), valuing it at US$210m; directors back it and Assore (26.4%) intends to vote for
Word on the Decline
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Ownership & Oversight
FMG ($61.4B) - Fortescue director Elizabeth Gaines sold $5.5m of shares
AII ($8.1B) - Almonty appointed Jorge Beristain CFO from 1 Jun
SRL ($1.8B) - Ivanhoe Capital exercised 7m options at $0.40 ($2.8m) to lift its Sunrise stake to 19.95%
KCN ($1.6B) - Kingsgate appointed Gregory Michael Orrell as director
FRS ($641m) - Forrestania acquired $1.4m of TG Metals shares, lifting its stake to 14.5%
TOK ($386m) - Tolu Minerals director Howard Lole sold 1m shares for $1.5m
HGO ($133m) - Ariadne Australia sold $1.6m of Hillgrove shares on-market, cutting its stake below 5%
AT4 ($110m) - American Tungsten & Antimony appointed David Bernhardt advisory board chair
VHM ($78m) - Steve Coughlan became a substantial holder in VHM with 12.2%
ANX ($40m) - Deep Source became a 7.6% holder of Anax buying 40m shares off‑market; Gold Valley Pilbara sold 40m, now 10.7%
RMI ($37m) - Praxis Global bought $1.3m of Resource Minerals International
In the Weeds
Lion Selection (May 2026) “Mining boom: underway but still early”
Oilpocalypse now: We’ve replaced panic with complacency (AFR Analysis)
Paul Cronin: 8 Years and a $2B Silver Lining: The Adriatic Story (YouTube)
How Trump’s $12B stash of critical minerals risks distorting markets (Bloomberg)
Multiple mining companies impacted after a cyber incident disrupted access to ERP systems, hosted services and APIs, down since 5th May (Scope Systems)
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Devil’s in the Detail
Bet you haven’t seen a chart cut like this in a press release before.




