The Pre-Start
EVN ($22B) - Evolution completed the 4.2Mtpa Mungari expansion ahead of schedule & under budget | Diggers Presentation
LTR ($3.1B) - Liontown targets 2.8Mtpa at Kathleen Valley by end FY27 | Diggers Presentation
OBM ($2.0B) - Ora Banda set FY27 capex guidance at $425m, building a 3Mtpa mill | Diggers Presentation
MI6 ($1.3B) - Minerals 260 outlined the exploration phase at Bullabulling, targeting late‑2028 gold production | Diggers Presentation
FFM ($1.2B) - FireFly will release a Green Bay MRE update and PEA this month, supported by 11.5m at 13.2% CuEq from 501m
BNZ ($1.1B) - Benz reported 41m at 14.5 g/t gold from 260m at Icon
IPX ($1.0B) - IperionX plans to redomicile to Texas with a direct Nasdaq listing replacing ADS
AIS ($561m) - Aeris guided to 22–27kt Cu, 42–51koz gold and 130–160koz silver in FY27, with $170–210m growth capex as Tritton's Constellation open pit delivers first sulphide ore in late Q3 to lift H2 output
AZY ($345m) - Antipa's Phase 1 drilling at Tims Dome intersected 22m at 0.9 g/t gold and 0.14% copper from 157m above a 1.2km untested AEM conductor
BTR ($340m) - Brightstar hit 305m at 1.8 g/t gold from 352m at Two Mile Hill, with the tonalite interpreted >180m thick
MM8 ($336m) - Medallion secured all approvals to start developing Ravensthorpe, early production Q3 CY26, first ore to Cosmic Boy Q2 CY27
SLS ($335m) - Solstice hit 51m at 1.03% Cu from 194m at Nanadie
TRE ($258m) - Toubani began process plant construction at Kobada and expects gold stream drawdown this month; first production targeted Q3 2027
HRN ($190m) - Horizon Gold reported 23m at 5.26 g/t gold from 188m at Kingfisher
WTM ($180m) - Waratah's RC at Gazzards outlines 6km gold corridor to Spur and Consols, 8m at 3.54 g/t gold from 120m
SS1 ($165m) - Sun Silver hit 8.3m at 170 g/t AgEq from 266m outside the current MRE at Maverick
ENR ($129m) - Encounter reported 75m at 2.4% Nb₂O₅ from 43m at Green, with Emily drilling extending niobium mineralisation at Aileron
TOR ($112m) - Torque intersected mineralisation outside current MREs at Observation and HHH, highlighted by 2.7m at 5.2 g/t Au from 201m
LKE ($88m) - Lake’s Catamarca opened EIA consultation for Kachi lithium brine project, final step before a DIA expected by 30 Sep
FAL ($80m) - Falcon confirmed >850m strike at Blue Moon, with 1.6m at 5.9 g/t gold from 609.7m at Jasmine
E25 ($80m) - Element 25 signed a take-or-pay offtake with OM Materials for 100% of Butcherbird's manganese concentrate, 5-year term, subject to financing
BKB ($73m) - Black Bear's Scoping Study for the Independence gold project outlines post‑tax NPV₅ ~$511m on ~$119m initial capex and AISC ~$2.2k/oz for 250koz Au and 1.8Moz Ag over 9.7 years
BCA ($49m) - Black Canyon shared drilling results, targeting a maiden Wandanya MRE in September, after returning 9m at 33.5% Mn from 2m
KZR ($47m) - Kalamazoo hit 36m at 16 g/t gold from 181m at Mt Olympus, feeding a Q4 2026 MRE update
STM ($47m) - Sunstone hit 196m at 0.62 g/t AuEq from surface at Porotillo outside 3.6Moz Bramaderos; MRE update due Dec quarter
HMG ($37m) - Hamelin Gold defined two lodes and reef-style mineralisation at Day Dawn, with 2m at 12.6 g/t Au from 36m
CAV ($31m) - Carnavale reported metallurgical results at Kookynie: 98–99% gold recovery, cyanide 0.35–0.44kg/t, enabling CIL toll treatment
China’s XCMG electric truck hopes put Pilbara miners on collision course (AFR)
Malaysia considers easing export curbs on unprocessed rare earths amid global demand from US, Australia, France, India (Bloomberg)
Fortescue’s Iron Bridge takes $1.1b hit as China talks stumble (AFR)
Unions’ plan: stop 16 iron ore ships and cost BHP $260m (Australian)
Wright family wins legal delay in Gina Rinehart royalty clash (AFR)
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Stokes-backed Forrestania hit with Takeovers Panel complaint over Zenith bid (AFR)
ELT ($156m) - Elementos said its option to acquire up to 50% of Iberian Smelting's Robledollano tin smelter in Spain is now unconditional
MLG ($115m) - MLG and Marlinyu Ghoorlie Enterprises formed a 50:50 JV to deliver mining services on Marlinyu Ghoorlie country
HMX ($62m) - Hammer received a binding superior scheme proposal from Austral to acquire the company for $0.087/share via 1.2903 Austral shares and a demerger of WA gold assets, triggering Larvotto's matching right
ZNC ($58m) - Zenith is subject to Takeovers Panel interim orders preventing Forrestania from processing acceptances or declaring its off‑market takeover bid unconditional, while FRS reports 52.3% voting power
ELV ($1.4B) - Elevra issued C$65m convertible notes to Canada Growth Fund at $17.17 conversion to fund NAL expansion
STN ($224m) - Saturn's SPP has been underwritten to $5m at $0.40 by Petra Capital
IXR ($70m) - Ionic Rare Earths in trading halt pending a capital raise
Cameco and Brookfield Renewable Partners file for US IPO of Westinghouse nuclear venture (Mining.com)
Word on the Decline
Survived the Topdrill event or Exchange Hotel last night? Excellent. Now tell us what the bloke in the RMs told you after his sixth beer.
Send us your best Diggers gossip this week: rumours and deal chatter. We promise to treat it with the appropriate amount of scepticism.
This column becomes Word on Hannan Street for the week.
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Ownership & Oversight
In the Weeds
Massif Capital (Q2 Letter) Making up for Friday’s broken link
Someone Forgot to Give Thanks... - Part II (Le Shrub) Told thru memes, the importance of being humble & avoiding leverage in markets
Weekly Watchlist (Respeculator) Perhaps the metals miners are telling us something about where metals prices are going?
Kalgoorlie’s mining gabfest reckons it has grown up. A new home helps (AFR)
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