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)

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Wheelin’ n Dealin’

  • 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

Rattlin’ the Tin

  • MOON.V (C$852m) - Blue Moon Metals closed a C$156m equity raising at C$10/share, with proceeds earmarked for its brownfields portfolio in US and Norway

  • BHP’s CFO has flagged an openness to issue bonds in renminbi, following its China deal (AFR)

  • Explorer Tanami Gold launches $70m rights issue (AFR)

Word on the Decline

  • Why write a column when a single picture tells it better…

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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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