The Pre-Start
Minerals 260 entered into a trading halt pending the release of a new resource at Bullabulling (MI6)
SolGold announced it’ll start early works at Cascabel in 2026, while director Steve van Barneveld has resigned (SOLG.L)
Aurum completed the sale of ~2.9m Montage Gold shares for ~$23m, realising a 102% gain and boosting cash to about $40m to fund Boundiali & Napié (AUE)
Southern Cross Gold received approval of its work plan for the exploration tunnel at its Sunday Creek gold project in Victoria (SX2)
Firebird secured what it claimed to be an energy-saving kiln patent, as it looks to demonstrate end-to-end conversion of manganese in Australia (FRB)
Admiralty Resources entered into a purchase contract with Trafigura for international marketing of Mariposa iron ore (ADY)
High Grade It
Mark Creasy's AIM Mining has withdrawn a Supreme Court action to force a creditor vote on his proposal to win control of Wiluna (BN)
Explorers are raising & spending at near-record rates, as government support for critical minerals projects saw $3.5B raised in the latest quarter (AFR)
Lenders have lined up for a proposed Enami copper smelter in Chile, in a bet that the current glut of capacity won’t last (Bloomberg)
Platinum surged 4% as an exchange in China launched a futures contract on the metal, boosting optimism about the nation’s demand (FP)
Zimbabwe will hike royalties on gold producers as it moves to take advantage of recent record high bullion prices (Reuters)
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Wheelin’ n Dealin’
Glencore is in talks to sell its 70% of Kazzinc to Shakhmurat Mutalip owner of railway and highway builder Integra Construction KZ (Bloomberg) producing 225 kt zinc, 40 kt lead, 600 koz gold and 3.5 moz silver pa
The same article suggests Nurlan Artykbayev, founder of construction group Qazaq Stroy, is seeking to purchase copper miner Kazakhmys (Bloomberg)
Ottawa has cleared Anglo’s proposed US$20B acquisition of Canada’s Teck on national security grounds (G&M)
African Gold has requested a trading halt pending an announcement about a possible change-of-control transaction (A1G)
Rattlin’ the Tin
European Metals Holdings has received notification it will be awarded up to €360 million grant from the Czech government to support the development of the company’s flagship Cinovec lithium project (EMH) stock up 70%
PTR (previously Petratherm) are raising $10m at 26.5c (PTR)
Polymetals secured additional working capital, with Ocean Partners offering a US$10m bridging facility and exercising 1.25m $1 options, and the Chairman providing a 12-month $5m nil-interest loan (POL)
Coronado completed its definitive documentation for its previously announced financial support transaction with Stanwell Corporation (CRN)
GoGold announced the closing of a C$143m bought deal financing (GGD.TO)
Word on the Decline
We are pretty confident that BHP has another chunky capital blowout at Jansen to wash out…
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Better late than never
Devil’s in the Detail
NRW Rem report remains - the unpassable resolution - 8 for 8 🥊
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