The Pre-Start
MIN ($13B) - MinRes will place the Lucky Bay garnet project into care and maintenance and expects a $40m non-cash impairment
RMS ($5.7B) - Ramelius's Roe project won't face EPA assessment and will proceed via Part V approvals, with works planned for late 2026
PDN ($4.4B) - Paladin announced the Atlas discovery at Patterson Lake South (PLS), with 14.5m at 1.7% U₃O₈ from 190.5m, 3.5km south of Triple R
TEA ($2.5B) - Tasmea guides FY27 EBITA $202–$208m, NPATA $128–$132m; assumes Maxim and JPS contributions
RSG ($2.2B) - Resolute will receive $77m from repayment of the Ravenswood vendor note by 30 June
MI6 ($2.1B) - Minerals 260 drilled 20m at 3.4 g/t gold from 93m at Bullabulling ahead of an August MRE update
LRV ($654m) - Larvotto hit 8m at 16.1 g/t AuEq from 301m at Midas, Hillgrove
NMG ($478m) - New Murchison updated the Garden Gully MRE to 4.4Mt at 2.5 g/t Au (359koz), up 29% vs Nov '24
29M ($455m) - 29Metals hit 29.8m at 16.9% Zn from 456.5m at Oizon, Golden Grove, with first ore targeted end-2026
ANDC.C (C$310m) - Andina intersected 186m at 0.50% Cu from 38m, within 502m at 0.40% Cu. Extends Shallow Mineralisation to the NW
PSC ($245m) - Prospect reported Kabikupa metallurgical testwork at Mumbezhi Copper project: 31.9% Cu at 94.7% recovery and 25% Cu at 94.3%
TGM ($243m) - Theta Gold advanced TGME gold plant construction: >50% of concrete poured, structural steel erection underway; ball mill due July 2026
STK ($237m) - Strickland received an ATO class ruling on its in-specie distribution of Gateway shares, confirming a $0.014852/share capital return
CYM ($237m) - Cyprium started pre-commissioning at Nifty commissioning the acid terminal and resuming sulphuric deliveries, first since 2006 | ▼ 10%
LOT ($180m) - Lotus paused production at the Kayelekera Uranium Mine amid acid supply issues, is pursuing funding including a US$30m Mercuria prepay, and warned 2H CY2026 1Mlb U₃O₈ offtake may slip; suspension extended to 16 July
ARN ($85m) - Aldoro reported 542.9m at 1.38% TREO, 4.08% SrCO₃, 0.20% Nb₂O₅ and 306 ppm Mo from surface at Kameelburg
YRL ($80m) - Yandal reported 11.3m at 1.1 g/t gold from 214m in the first diamond hole at Flushing Meadows
PGO ($52m) - Pacgold poured 97oz gold at White Dam and is evaluating a late‑2026 Vertigo pit restart; leachate yet to reach plant
AUQ ($36m) - Alara marked the 50th copper shipment from Al Wash-hi Majaza, Oman, taking totals to 62.7kt wmt and 11kt Cu
High Grade It
Gold & Silver prices fall to 7-month lows (Forbes)
China's foreign minister urges swift reopening of Strait of Hormuz for global trade, Xinhua reports (Reuters)
Rio targets 200kt lithium production capacity by 2028 (West)
Unions pull back from the brink as BHP concedes some ground (Australian)
Billionaire Ira Rennert agrees to US$150m settlement of Peru smelter claims (Bloomberg)
Mining companies model their own costs. WOODY's number tells the real story. WOODY rebuilds each project's costs independently and ranks them on one curve, so you can see how they really stack up. |
HBM.TO (C$12.8B) - Hudbay completes acquisition of Arizona Sonoran via plan of arrangement
Energy Fuels delays ASM takeover vote after $US1.9B Vacuumschmelze acquisition (Australian)
Anglo and Codelco finalise JV for Los Bronces and Andina copper mines in Chile (MiningMX)
Zimbabwe discusses minerals-backed infrastructure deals with China Railway amid $34B funding need (Mining.com)
FLG ($61m) - Flagship agreed to sell its RK Lithium project in Thailand for US$4m cash, refocusing on gold and copper
CopperTech targets US$3.57B valuation in US IPO for Konkola Copper Mines (MiningMX)
Gina Rinehart backs X-ray technology used in mining in $70m deal (AFR)
KGL ($206m) - KGL raising $300m at $0.20 (25% discount) to fund Jervois Copper, with KMP Investments committing up to $113m
STM ($47m) - Sunstone entered a trading halt pending a capital raise
VRX ($31m) - VRX Silica raised $2.9m at $0.04 via rights issue
Ownership & Oversight
SRL ($2.9B) - SailingStone sold $25m of Sunrise Energy shares, trimming to 5.8%
SBM ($647m) - St Barbara NED Joanne Palmer resigned effective 30 Jun
TM1 ($268m) - Terra Metals named Debra Bakker Chair, appointed Jeff Quartermaine & Jennifer Purdie NEDs; Ian Middlemas and Ben Cleary resigned
AGE ($217m) - Alligator’s CFO Joe Sutanto resigned; R Blayney Morgan interim CFO
FEG ($65m) - Far East Gold appointed Justin Hastings as NED
ZNC ($61m) - Forrestania lifted its stake in Zenith to 18.2%
In the Weeds
Ferg’s Finds (Trader Ferg)
The Debasement Trade Is Unravelling & Kevin Warsh Is One Big Reason (Bloomberg)
The forgotten soft metal that’s rocking (Australian) Tin
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Devil’s in the Detail
Has a ‘market remuneration review’ ever found management was overpaid, or is the benchmark always conveniently uphill?



