Goldie Guidance Downgrade & MD Departure

Is there a pending North American trade war?

The Pre-Start

  • Trump imposes 25% tariffs on Canada & Mexico and 10% tariffs on China (9news) Plenty to talk about on this regarding growth, inflation, trade wars etc.

  • Westgold have downgraded FY25 guidance by 70koz. Updated guidance is 330-350koz at AISC $2,400-$2,600/oz (WGX)

  • Terry Holohan is leaving his position as Resolute CEO & MD with immediate effect, as acting CEO Chris Eger formally assumes the CEO role (RSG)

  • Polymetals provided an update on its Endeavor Ag-Zn mine restart activities, with surface & UG works progressing to plan, path to H125 cashflow on track (POL)

  • Paladin signed a mutual, benefits agreement with the Buffalo River Dene nation, the indigenous peoples associated with Patterson Lake (PDN)

  • Current Alpha HPA COO Rob Williamson will assume the role of MD, with current MD Rimas Kairaitis to assume role of Chief Commercial Officer (A4N)

  • Galan continued Phase 1 operational works at HMW, with ~7.9kt LCE inventory in evaporation ponds and $3.6m cash at end of Dec Q (GLN)

  • New Murchison Gold released a maiden OP ore reserve for Crown Prince of 140koz at 4.8g/t Au & feasibility study generating post-tax NPV8 $115m & 579% IRR at $3,750/oz gold price, commencement of mining expected Jun ‘25 (NMG)

  • True North Copper finished the Dec Q with $19m cash post VA & recap raise, Cloncurry project on C&M while an extensive exploration program is undertaken (TNC)

  • Centaurus’ Jaguar nickel project selected to join Brazil climate and ecological transformation investment platform (CTM)

  • Beacon Minerals produced ~6.8koz at a cash cost of $2,891/oz, finishing the Q with $16.7m cash (BCN)

  • Tribune Resources is undertaking an on-market buyback of up to 10% of its shares on issue (TBR)

  • Santana Minerals appointed Emma Scotney as a Non-Exec Director (SMI)

  • Leo Lithium completed the payment of its distribution to shareholders (LLL)

  • Ubique AM increased its stake in IGO to ~6.3% (IGO)

High Grade It

  • ADQ and Orion Resource Partners to establish US$1.2bn Abu Dhabi-based JV to invest in and secure the supply of strategic & critical minerals (PR Newswire)

  • Tanya Plibersek’s plan to revive the second phase of Nature Positive laws are facing stiff opposition from the resources sector (MNN)

  • Norton Gold Fields sacks WA employee after claims of corruption ‘substantiated’ by investigation (West)

  • BHP awarded a $40m contract to progress proposed expansion of its copper smelting & refining facilities at Olympic Dam (Australian)

  • British Columbia-based Marimaca Copper looking to join its fellow Canadian, Capstone Copper by joining the ASX this year (MNN)

  • Homesick FIFO workers stir talk of Pilbara unionisation (AFR)

  • Gold prices surpassed the key $2,800 mark for the first time on Friday, fuelled by a rush to safety following Trump's tariff threats (Reuters)

  • Mali hostage ordeal ends in exit for Resolute Mining CEO Terry Holohan (West)

Some super handy resources from the financial modelling wizards at Model Answer. Hit them up!

Wheelin’ n Dealin’

  • Astral & Maximus to merge via recommended takeover offer to consolidate ground around the 1.2Moz Mandilla gold project (AAR)

  • Blackstone Minerals in trading halt regarding a proposed merger (BSX)

  • Dataroom has written of EMR Capital having a struggle on its hands as they look to convince a buyer to part with US$3b for Kestrel in a tough coal market (Australian)

  • Expect more global mining deals, says former Anglo American chief (AFR)

  • Strike Energy hasn’t ruled out an asset divestment as part of its strategic review, while new management prepared to meet with JV partner Hancock Prospecting (BN)

  • Red Hawk MD says Fortescue rival bid seems “unlikely” (MNN)

  • Aeris Resources is considering sale options for its Barbara copper project in north-west QLD (IQ)

  • Ora Banda and Hawke’s Point agreed to an extension to its $4m loan repayment while they finalise the royalty on-sale which will offset the amount owed (OBM)

  • Aeris renewed its existing ANZ facility for 6 months, now due 31 Jul as the company continues its refinancing process (AIS)

  • Poseidon shareholders approved the scheme to merge with Horizon Minerals last week, with the second court hearing scheduled for this Friday 7 Feb (HRZ)

  • Pure Resources have signed a non-binding HOA with SSH Group to accelerate development of the Reedy Creek garnet project (PR1)

Rattlin’ the Tin

  • Predictive are in trading halt pending a capital raising (PDI)

  • Medallion Metals received commitments to raise $6.5m, Alkane to emerge as a 6.3% shareholder (MM8)

    • Lion Selection also invested $1m in the raise (LSX)

  • Black Cat are tipping $1m into Dreadnought. Funding will secure first right to negotiate on the gold development of Star of Mangaroon (DRE)

In the Weeds

  • Which industries in Canada, Mexico and China are affected the most by the Trump tariffs (MSNBC)

  • Minotaur Capital’s Armina Rosenberg reckons DeepSeek development cost probably 100 times the sticker price (AFR)

  • Is Africa getting riskier? (MNN)

  • Should investors worry about tariffs? (Livewire)

  • How does a nation as rich in minerals, energy and skills as Australia lose its standing as a global resources hotspot? (Australian)

  • Investment in the energy transition exceeded $2 trillion in 2024, but growth has slowed (MNN)

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Today’s Top Tweet

Some good gold comps in this tweet…but more importantly…Ally GC maintaining priority tagging status in all gold related posts.

Devil’s in the Detail

Anyone wanna take a punt on how many of the 1,046 ASX Announcements released last Friday were after market quarterly reports?

Market Index ASX Announcements Feed

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