Lynas Delivers First Heavies Amidst Trade War Breather

Capricorn parts with CEO, for now, while Australia takes a stand against the US

May 16, 2025

The Pre-Start

  • Lynas announced first production of dysprosium oxide in Malaysia, following heavy RE seperation circuit commissioning. First terbium expected in June (LYC)

  • Marimaca extended its discovery at Pampa Medina Norte, intercepting 68m at 1.2% CuT (total copper) from 252m while awaiting deeper assays (MC2)

  • Capricorn advised the charge against its CEO Paul Criddle was dismissed in court, with Paul resigning as CEO to focus on personal priorities and chair Mark Clark to assume CEO responsibilities (CMM)

  • Catalyst’s Trident received approval for an open pit mining proposal, clearing the way for mining, with capital costs pegged at $15m (CYL)

  • Larvotto shared an inital tungsten resource of 4.8kt WO3 (grading 0.05%) at Hillgrove, with DFS work including the metal (LRV) Should we be surpised this is shared on a day tungsten hits a 12-year high? (Mining.com)

  • Mondaelphous nabbed nabbed $180m in new contracts, including a 5-year agreement at Rio’s Cape Lambert (MND)

  • Lunnon shared drilling at Defiance West, with two gold structures interpreted (LM8)

  • Ubique increased its ownership of IGO to 7.4% (IGO)

High Grade It

  • Trade Minister Don Farrell has issued a rare rebuff to Washington, declaring Australia will resist pressure from the US to gang up on Beijing (AFR) Australian won’t commit economic suicide?

  • Rising Indonesian nickel smelting pushes market further into surplus (MNN)

  • The chief executive of Capricorn has quit despite a WA court’s decision to dismiss a charge of aggravated assault (AFR)

  • Chinese coal prices remain locked in a downward spiral due to a persistent glut of the fuel, according to the country’s top industry group (Bloomberg)

  • Australia’s economic engine room is heading for its first industrial strike in 17 years, with the wharfies union preparing to down tools in the Pilbara (West)

  • Former De Grey chair Simon Lill will lead the board of a gold focused spin off from Delta Lithium, to be listed as Ballard Mining (BN)

  • Aussie Super’s struggling graphite bet Syrah will resume mining for the first time in 9 months, boosting its chances of convincing the US to extend loans (AFR)

  • Guinea revokes 46 mining licences whilst signalling stricter oversight of major operators (Mining.com) Mali, then Ghana, now Guinea?

  • Gold retraced some of the heavy losses to trade at US$3,245/oz (Bloomberg)

Safe, reliable and productive drilling, based in the heart of the goldfields. Hit this link to get in touch with the fantastic K-Drill team.

Wheelin’ n Dealin’

  • Czech investor Sev.en may have a second tilt at the battling Coronado, despite a cloudy outlook (Australian) From an implied $1.5b value, to a $320m market cap

  • Vox Royalty Corp has acquired the royalty over Hillgroves Kanmantoo from Freepoint (HGO, VOXR.TO)

Rattlin’ the Tin

  • Capstone Copper amended its existing credit facility and extended the maturity to May 2029, with interest on a sliding scale of SOFR + 1.75% to 2.75% (CSC)

  • Medallion confirmed a $27.5m capital raising, with aim of making FID in Q4 CY25 (MM8) Lion Selection seperately announced a $2m participation (LSX)

  • Tudor Gold announced a C$10m financing whilst talking up Eric Sprott’s intention to participate (TUD.TO)

Word on the Decline

  • What do you think United Tractor's prospects of FIRB approval would really be given Ravenswood is a stones' throw away from Townsville military base? Is it as straightforward as you'd usually think?

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In the Weeds

  • Inside the US deep-sea mining ‘gold rush’ (FT’s Big Read)

  • Final Nuclear Plant Shutdown Leaves Taiwan Facing Energy Crunch (Bloomberg)

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