GLEN.L (£66B) - Glencore lifted copper output 19% versus Q1 last year to 200kt, while zinc output fell 17% to 177kt and met coal dipped 22% to 6.5Mt

KGC.NY (US$36B) - Kinross reported record free cash flow for the 4^th consecutive quarter, returning US$350m to shareholders to date in 2026. It produced 492koz AuEq at an AISC of US$1.7k/oz for free cash of US$837m

EVN ($24B) - Evolution lifted group reserves to 12Moz gold (+0.5Moz) and 1.3Mt copper (-100kt), with resources now 31Moz gold (+0.9Moz) and 4.2Mt copper (-200kt)

AAI ($23B) - Alcoa posted US$425m NPAT on US$3.2B sales in the quarter, held US$1.4B cash, and will redeem US$219m 6.125% 2028 notes using cash on hand

DRR ($2.2B) - Deterra booked $57m MAC royalty in the quarter, down 9% QoQ, and appointed Jason Neal interim MD & CEO

TOK ($383m) - Tolu reported 4.1m at 11.2 g/t gold at Zine North and targets a 500tpd Tolukuma restart commencing Q1 2027

CEL ($341m) - Challenger will start toll processing at Hualilan on 1 May, with first gold sales in May; cash $21m (-$16m QoQ)

BCN ($325m) - Beacon produced 5.4koz gold at $4.5k/oz AISC, recorded -$6m mine cashflow, $39m cash, and guided 5–6koz for the June quarter

RHI ($308m) - Red Hill closed with $59m cash (-$2m QoQ), $2m Onslow Iron royalty receipts, as MinRes lifted shipments to 31–34wmt

MCM ($262m) - MC Mining suspended Uitkomst Colliery to stem losses, while Makhado CHPP commissioning is slated for May; cash and facilities US$5.4m

ERM ($250m) - Emmerson closed with $5.4m cash; it has $10.5m MPP inflows due Apr–Jun, with the first $3.5m received

NTU ($239m) - Northern Minerals pushed Browns Range FID to Sep 2026 and warned overdue Iluka offtake CPs may trigger termination rights

WTM ($217m) - Waratah Minerals hit 117m at 2.0 g/t gold at Consols, incl. 7m at 26.5 g/t, its second >200 gram-metre intercept

AR1 ($192m) - Austral produced 2kt copper cathode in the quarter (+$6m operating cash inflow). Now debt-free with $83m cash and guiding Q2 to 2kt

KAU ($151m) - Kaiser Reef doubled throughput at Porcupine Flat by moving to two shifts; Union Hill stockpile supports 10kt/month processing to 2030

MKR ($134m) - Manuka drew US$26m of a US$30m Nebari facility and targets late‑Q2 first silver output, but withdrew Taranaki VTM fast‑track application

FXG ($126m) - Felix Gold gained Alaska DNR bulk-sample approval to extract up to 1.5kt antimony ore at NW Array from Q2

AA2 ($107m) - Ariana's Zenit (23.5%) produced 4.5koz gold and 10.3koz silver in Q1; RiverFort debt settled via share conversion

AGD ($94m) - Austral Gold produced 7.3koz GEO, cash +US$14m to US$24m, and raised Guanaco cost guidance to C1 US$2,400-2,700/oz and AISC US$2,600-2,900/oz

HAR ($58m) - Haranga announced a 1.16–1.64Mt at 5.4–5.8 g/t gold exploration target (202–308koz) at South Spring Hill; cash $9.3m

The US EXIM Bank’s proposed stockpiling initiative would initially source critical minerals from anywhere in the world, including China (Bloomberg)

EMR faces creditor issues as HSBC terminates gold hedging at Ravenswood, as it ‘speeds towards receivership’ (AFR)

MinRes faces a $4/t (Onslow) to $60/t (lithium) cost increases due to rising diesel prices (Australian)

Alcoa faces $1.7B closure costs for Kwinana alumina refinery in Australia (The West)

Datavault AI launches $150m gold tokenisation program with King Mining Capital, using real gold (Mining.com)

MIN ($12.6B) - MinRes signed formal JV agreements with POSCO for its lithium stake, with completion now H1 FY27 pending approvals

EQR ($1.4B) - EQ Resources will not proceed with acquiring 100% of Tungsten Metals Group after a strategic review

RTR ($68m) - Rumble halted pending funding news for Western Queen

RMI ($37m) - Resource Minerals International is in halt pending a capital raise

Lithium Argentina appears to be running a process to sell down a minority stake in its 33% interest in the Pozuelos-Pastos Grandes lithium brine project in Argentina alongside partner Ganfeng.

PPG hosts a 15.1Mt LCE resource and targets 150ktpa production across three stages, with Stage 1 alone planned at 50ktpa and carrying a US$1.1bn capex estimate.

Our understanding is the process has attracted a broad range of bidders, including the full suite of hard rock lithium miners who have multi-mine growth ambitions and looking to secure brine exposure.

Whether their valuations can compete with the prices that downstream players are willing to pay remains to be seen.

Regardless, it’s an interesting catalyst for Lithium Americas should a sell down reveal a see-through value of the project divergent from consensus and their own market cap.

OBM ($2.5B) - Ora Banda appointed John Richards director

DYL ($1.7B) - Deep Yellow appointed Sinead Kaufman as an independent NED

FRS ($633m) - Wroxby lifted its stake in Forrestania to 10.4% by exercising options

MEK ($412m) - Meeka appointed Dan Lougher as NED

BM1 ($300m) - Delta’s interest in Ballard fell to 34% after Aurenne's escrowed shares were released

AS1 ($217m) - Asara appointed Matthew Sharples as MD & CEO

GPR ($151m) - Geopacific appointed Hamish Bohannan MD and Rowan Johnston chair, as James Fox stepped down as CEO

TER ($129m) - TerraCom appointed Mark Chadwick as director

LLM ($63m) - Harvest Lane bought $3.8m of Loyal Metals shares on-market, lifting its stake to 12.3%

RAU ($36m) - Jose Luis Manzano lifted his stake in Resouro to 17.6% from 9.3%

Understanding the World's Most Unusual Commodity Cycle (w/ Grant Isaac) (Decouple podcast) Good interview with Cameco’s President

13 stock picks for an energy shock and an AI boom (AFR Chanticleer)

We at least appreciate the honesty here…