The Pre-Start
Woodside announced CEO and MD, Meg O’Neill has resigned to take up the role CEO at BP. The board has appointed Liz Westcott as Acting CEO (WDS)
Ora Banda shared an exploration update, with showing mineralisation extensions in the northern corridor, with hits such as 16.6m at 8.3g/t from 296m (OBM)
Lindian retracted its production increase and forecasts; Obsideo’s D&C award stands & pre-production capital remains within 10% of the feasibility study (LIN)
Bannerman shared an update on construction early works at Etango, with activities on budget & schedule (BMN)
Carnaby’s Trek 1 drilling returned 6m at 12.6% CuEq from 211m and 25.5m at 2.0% CuEq from 646m (CNB)
Falcon Metals’ intersected 2.75m at 41.9 g/t Au from 605m at Blue Moon, including 0.5m at 222 g/t Au, 200m north of a previous intercepts (FAL)
Golden Horse’s Hopes Hill drilling returned gold in 37 of 42 holes, extending mineralisation over a +2.5km strike & to 363m depth, after ~41km of drilling (GHM)
Felix Gold reported additional NW Array drilling at the Treasure Creek project including 3.04m at 6.3% Sb, confirming stacked vein continuity (FXG)
Patronus returned all 4,718 Phase 1 surface sampling results at its Pine Creek gold project, defining new district-scale anomalies (PTN)
St George returned 139m at 4.05% TREO and 0.55% Nb2O5 from surface, the thickest intercept at its Araxá project (SGQ)
Stellar’s Severn wedge hole at the Heemskirk tin project intersected 51.4m at 0.55% Sn from 530m, including 11.1m at 1.10% Sn (SRZ)
Austral defined exploration targets of 10–20Mt at 1–2% Cu and 0.1–0.5 g/t Au across 11 prospects, drill-ready and within trucking distance of Rocklands (AR1)
Great Boulder’s Side Well has grown to 16Mt at 2g/t Au, containing more than 1Moz of gold (GBR)
High Grade It
Westpac warned that the iron ore will plunge 20% next year to about US$83/t as China slashes its steel output (AFR)
Coal demand has hit a new record in 2025 and a plateau out through 2030 may still be derailed by China’s ongoing appetite (Australian)
Point72 is considering building a commodities business to drive returns as multistrategy hedge funds jump on the volatile play (Bloomberg)
Silver prices surpassed $66/oz to a record high, while gold firmed as hopes of rate cuts by the U.S. Fed renewed (Reuters)
BHP has been hit with a demand for at least £189m in legal costs after it was found liable for the 2015 Mariana dam collapse (FT)
Serious about ASX investing? Focus by Marketech gives you live pricing, powerful charting and ultra-low fees so you can trade smarter, faster. Try it free today.
Wheelin’ n Dealin’
Dataroom has shared that Westgold hopes to finalise two more asset sales in the early new year after offloading Mt Henry, with its Peak Hill & Chalice gold assets named (Australian)
Rattlin’ the Tin
Paladin has restructured its debt, reducing it from US$150m to US$110m, using capital from the recent equity raise to pay down the difference (PDN)
Word on the Decline
To us, Glencore’s Aurukun bauxite project in Queensland is the perfect kind of project for a MinRes JV unlock. And while workstreams have cooled on a potential partnership between the two companies in Mauritania, we wouldn’t be surprised to see something happen closer to home
Got Word on the Decline? Simply reply or email [email protected]. We will always take your privacy seriously.
In the Weeds
Inside a secretive German bunker of rare-earth stockpiles (Nikkei)
Hauling the World's Biggest Mining Loader Across Australia! (Aaron Witt)
What 100+ Large Mining Projects Reveal About CAPEX Overruns (Kenfucian Thoughts)
Were you forwarded this email from someone else?
Today’s Top Tweet
Devil’s in the Detail
“news flow”
