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- Boss Cracks Guidance while Lynas Delivers Heavies
Boss Cracks Guidance while Lynas Delivers Heavies
Barrick's Mali challenge worsens while iron ore slips lower
The Pre-Start
Lynas confirmed first production of terbium oxide at Lynas Malaysia, following its recent production of dysprosium oxide (LYC)
Boss Energy shared that it’d met FY25 production guidance (850klb U3O8), with 328klb drummed this in Q4 already (BOE)
Lundin Mining filed a technical report for Vicuña, updating the oxide deposit and Josemaria numbers, while outlining plans to become a 500ktpa & 500kozpa copper & gold producer (LUN.TO)
Catalyst shared results from Trident as development got underway, with infill results in line with expectations (CYL)
Drilling from Warriedar’s Ricciardo returned 2m @ 116g/t from 151m, in the first case of visible gold at the deposit (WA8)
Viridis discussed ambitions to expand into US-based rare earth refining (VMM)
Aurelia shared exploration Nymagee district exploration results, with intercepts confirming the down-dip extension of the Federation West lens (AMI)
True North Copper released assays from drilling at the Great Australia Mine, with new zones of Cu-Au mineralisation intersected (TNC)
Strickland shared drilling from Shanac, with a headline intercept of 244m @ 1.3g/t AuEq from 342m (STK)
Regis shared a new presentation
High Grade It
Albanese has invoked concerns about China’s dominance of global critical minerals supply chains in his first speech at the G7 summit (Australian)
The $300m MinRes & Ganfeng recently allocated to “keep the lights on” means Mt Marion has had $600m of fresh cash pumped into it since November (West)
Gold, driven by record purchases & surging prices, has overtaken the euro as the 2nd most important reserve asset behind the dollar, said the ECB (Mining.com)
Barrick is engaged in arbitration as its Malian gold complex has been placed under state control (MT)
Citi has turned bearish on gold, warning of a sharp fall in prices over the next 18 months, while also downbeat on iron ore in the near term (Australian)
Iron ore dipped to its lowest level since September last year at US$93/t (ABC)
For the world's lead-acid battery makers, China's restrictions on antimony have become a major headache, while customers feel the brunt of prices (Reuters)
Panicked investors have rushed back into uranium stocks to beat the price spike following Sprott’s upsized raise (AFR)
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Wheelin’ n Dealin’
Kinterra Capital, a Toronto-based PE fund that earlier this year closed a second fund of US$1B targeting critical minerals and related infrastructure, emerged with a 12% stake in New World (NWC, AFR) with Dataroom adding that single-asset miners are the current target of choice (Australian)
The new CEO of Vale Base Metals, Shaun Usmar, aims to prepare the Nickel-Copper business for a potential IPO by 2027, if not sooner (Bloomberg)
Chevron made its first foray into lithium with 2 acreage deals in NE Texas & SW Arkansas aimed at building a domestic “commercial scale” business (Bloomberg)
TDG Gold announced the acquisition of Anyox Copper and a C$25m bought deal placement (TDG.TO)
Rattlin’ the Tin
Coronado closed the previously announced US$150m asset-based lending facility, paying a “mid-teens” rate (CRN)
IsoEnergy launched a C$50m bought deal (ISO.TO)
Cygnus is raising $15m at 8.6c (CY5)
Canada Nickel upszied its placement to C$11m for its Timmins project (CNC.TO)
Rua Gold announced a C$12m share offering at 70c (RUA.TO)
Word on the Decline
Perhaps the odds of a GlenTinto tie-up are skinnier than the market anticipates right now
With the stock closer to £3 than £2, the ability to get a deal over the line with any premium is unlikely. But a nil-premium merger isn’t out of the question for Glencore - especially when management is up for grabs
If Rio announces Jakob’s successor, we think the window for the mega deal is surely closed. New CEOs of these majors spend a few years “setting a strategy” before they embark on any bold M&A…
Do you have some Word on the Decline? Reply to this email or shoot a message to [email protected] directly. We will always take your privacy seriously.
In the Weeds
Today’s Top Tweet
A 10-hour-long Twitter Spaces devoted to silver that still has 100+ people tuning in… If you had any uncertainty that this is a bull market…
Devil’s in the Detail
You could make a movie about Dato, Besra Gold and Quantum Metal one day… It’s the kind of gold movie that should cast Matthew McConaughey…
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