Countdown Begins for Dundee-Adriatic Deal

Catalyst launches bumper $130m raise while Argentina gives Rio tick of approval

May 21, 2025

The Pre-Start

  • Ivanhoe reported a temporary interruption to underground mining at Kakula as a result of seismic activity that was experienced in the eastern section (IVN.TO)

  • MinRes updated its Onslow R&R number, with resources of 744Mt @ 56.3% Fe (up 89% on 2023 report) and reserve of 359Mt @ 57.5% Fe (up 73%) (MIN)

  • Antipa shared an updated MRE for Minyari, adding 100koz, with a resource of 53Mt @ 1.48g/t gold, 0.18% copper with silver & cobalt credits (AZY)

  • Rox testwork determined that recoveries from bulk flotation tests of 91.6% can be achieved, with Albion process tests underway (RXL)

  • Sovereign Metals signed a power supply MoU with ESCOM for grid power (SVM)

  • White Cliff shared results from Rae, with the headline an intercept of 90m @ 4% copper and 7.5g/t silver from surface (WCN)

  • Yandal shared drilling results from Siona, with low-grade mineralisation with higher-grade zones being a feature of the system (YRL)

  • Aurum shared drilling from Boundiali at the DBT1 deposit, with hits including 34m @ 2.32g/t from 56m (AUE)

  • Metro Mining provided an updated R&R statement for its Bauxite Hills mine, with reserves now at 77.7Mt at 49.8% Al2O3 and 13.3% SiO2 (MMI)

  • Stanmore’s AGM doc’s revealed a 16.5% vote against the rem report (SMR)

  • Deep Yellow, Arafura, Saturn Metals, & Kingston Resources released new presentations

High Grade It

  • The resources minister is confident her govt’s critical minerals stockpile will generate revenue for Australia, dismissing fears of price distortion (AFR)

  • The Electrical Trades Union is accused of making dishonest same job, same pay claims & threats against WA miners, in an escalating row with the Minerals Council (Australian)

  • WA business leaders urged the Albanese govt not to grant any new environment protection agency powers that would kill off new resources projects with bureaucracy (AFR) Days left for a call on a 40-year extension in the NW-shelf

  • Argentina's govt approved a US$2.5B lithium project by Rio Tinto, marking the first mining project under a new RIGI investment scheme (Reuters)

  • EV sales in China rose 58% yoy in April, a positive sign for struggling WA lithium miners while the spod price is yet to show signs of improvement (West)

  • South32-owned GEMCO announced export sales resumed on the back of a massive recovery operation following the aftermath of Cyclone Megan (BN)

  • Tasmanian smelter Liberty Bell Bay has paused ops, leaving 250 workers in limbo as governments call for support (West)

  • China imported the most gold in nearly a year last month despite record prices, after the central bank eased restrictions on bullion inflows (Bloomberg)

Wheelin’ n Dealin’

  • London-listed miner Adriatic Metals in £700m takeover talks with Dundee Precious Metals (Sky News) Adriatic has confirmed talks, Dundee is required to announce its offer intention by 17 June (ADT)

  • Gold Road’s takeover by Gold Fields has received FIRB approval (GOR) FIRB can move quickly after all

  • Minerals 260 announced the sale of its non-core Aston project in the Gascoyne region to Delta Lithium for $450k + a 1.5% NSR on lithium sales (MI6)

  • New World Resources went into trading halt pending a change in control transaction (NWC)

Rattlin’ the Tin

  • Catalyst Metals is in halt, raising $130m primarily for plutonic development projects and exploration (CYL)

  • NSW gold, copper hopeful LinQ Minerals launches IPO as it seeks a spot on the ASX boards (AFR)

  • Small-scale WA gold miner Auric is raising capital (AWJ)

Word on the Decline

  • Is AngloGold fielding sneaky bids for Sunrise Dam? 🤔

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

  • Strictly Boardroom: The Exploration Spruiking Code (MNN)

  • Are big oil companies prepared for a prolonged market downturn? (FT)

  • Dear companies, spare us the guff and give it to us straight (AFR’s Chanticleer)

Were you forwarded this email from someone else?

Today’s Top Tweet

Devil’s in the Detail

Yesterday we had a call with a sharp guy who cut his teeth in the Australian hedge fund scene. He mentioned that he did some analysis which showed that 80% of all capital raisings trade back to the issue price within 30 days…

Something to think about when you assume your broker is getting you a bargain in XYZ placement!

Catch up on our latest episode

🟢Spotify | 🟣 Apple Podcasts | 🟥 Youtube

Will a Bidding War Begin for this Copper Junior (31 min)

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The Money of Mine team are not financial professionals. Money of Mine are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional, along with considering any relevant Product Disclosure Statement. Money of Mine does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. Money of Mine strives to ensure the accuracy and currency of the information contained in this newsletter but we do not make any representation or warranty that it is accurate, reliable or up to date. Any views expressed by the hosts of Money of Mine are their opinion only and may contain forward looking statements that may not eventuate. Money of Mine will not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of information in this newsletter. Information relating to our Privacy Policy is available online here.

Reply

or to participate.