The Pre-Start
MI6 ($2.2B) - Minerals 260 received Works Approval for Bullabulling, enabling processing plant, power and TSF construction, with remaining permits to support an FID in Q1 CY27
BTR ($910m) - Brightstar returned 305m at 2.66 g/t gold from 503m at Two Mile Hill-Shillington, extending below the MRE
AR1 ($143m) - Austral took delivery of a 4.75MW SAG mill for the Rocklands Copper project, with production targeted for H2 2027 | ▲ 6%
TLG ($102m) - Talga said Talnode‑C graphite anodes enabled KRI Li‑ion cells to 8,000 cycles at 75% capacity; samples available, scale‑up targeted 2030 | ▲ 12%
WCN ($100m) - White Cliff reported 63m at 0.39% Cu from 21m at Danvers 1, and logged copper sulphides to 521m downhole
BRL ($84m) - Bathurst received a NZ$3.3m dividend from 65%-owned BT Mining
AUZ ($74m) - Australian Mines appointed Tribeca Capital Advisory as corporate adviser to secure funding, offtake and partners for Flemington
ESR ($60m) - Estrella released a scoping study for the Werumata Limestone project in Timor-Leste modelling 25Mtpa with NPV₁₀ US$1.5B and 46% IRR, OPEX US$7.9/t, and a Stage 1 8Mtpa start-up capex US$117m
ARL ($58m) - Ardea's scoping study for a scandium recovery circuit at Goongarrie Hub, estimates NPV₇ US$510m for US$73.5m capex
AQD ($55m) - AusQuest reported 618m at 0.26% Cu from 36m at Cangallo, Peru, including 114m at 0.40% Cu from 88m
FXG ($54m) - Felix Gold lodged a mine permit at NW Array, Alaska, to produce an antimony concentrate from June 2027
YRL ($39m) - Yandal reported 17.8m at 2.5 g/t gold from 391m at Arrakis, WA
AGC ($35m) - Australian Gold & Copper returned 16m at 2.3 g/t gold, 1.4% Cu and 12.2% Pb+Zn from 112m at Evergreen
VKA ($23m) - Viking reported 9.9m at 0.51% WO₃ from 58.7m at Linka Tungsten project, Nevada, and re‑assays lifted two intercepts by 12–15%
High Grade It
Sprott warns of deepening mining equity-fundamentals disconnect (MN)
BHP's Tim Day warns Australia becoming harder for business, hints at shifting investment overseas (West)
Ganfeng warns of extreme lithium price swings amid volatile market conditions (Bloomberg)
Rio's Australian smelters saved by $4.7B gov’t aid, shift to renewables (Australian), as it backs its green aluminium to see off Indonesian supply surge (AFR)
Lithium Americas raises Thacker Pass construction cost to $3.83B due to Trump tariffs (Bloomberg)
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VAU ($6.6B) - Vault shareholders approved the scheme for acquisition by Genesis; Court approval is set for 16 Nov
ALS.TO (C$3B) - Altius is acquiring TNR Gold for C$122m, a 60% premium, via C$97m in Altius shares and C$25m in SpinCo equity
A1M ($552m) - AIC completed the acquisition of Materra (owner of the Mt Cuthbert)
FLG ($57m) - Flagship entered into an option to acquire 100% of the Fortuna Valle Cu-Au project in Coquimbo, Chile
AKA ($34m) - Aureka will issue 53.3m shares (valued at $6.4m) to acquire 100% of High Grade Holdings
Macquarie analysts urge Gold Fields to increase $36B offer for Northern Star by $7/share (Australian)
STG Metals in talks to finance Mining Minerals Resources for Congo tin supply deal (Bloomberg)
Andi Syamsuddin Arsyad considers bid for Eramet's nickel mine stake (Bloomberg)
Rio shortlists five bidders for $7B infrastructure assets in Pilbara and Canada (AFR)
PDN ($3.9B) - Paladin in trading halt pending capital raise announcement
MPK ($195m) - Many Peaks entered a halt to raise $60m at $1 a share
AEU ($157m) - Atomic Eagle received $10.9m after largest holder Menel early-exercised 35m options
AWJ ($46m) - Auric raised $17m at $0.185 via a placement
AMD ($42m) - Arrow raised $5.5m at 2c for Pannawonica
Ownership & Oversight
BHP selects ex-Macquarie analyst Adrian Wood as new CFO after Pant quits (AFR)
A4N ($595m) - AusSuper lifted its stake in Alpha HPA to 6%
BKY ($359m) - Paradigm trimmed its holding in Berkeley to 7.8%
TSO ($169m) - Collins St sold ~$1.2m of Tesoro shares, trimming to 8%
MMA ($127m) - Nokomis bought $29.6m of Maronan shares
KZR ($57m) - Muqasab SPV Holdings took a 10% stake in Kalamazoo via an off-market placement for $7.8m at 18c
Banging effort from Jordi out the gate 👏 16 seats left.
How to get a seat: each weekday, the top referrer wins one.
Today’s seat · closes 5pm AWST
Today’s leader: 39 so far.
Wednesday’s took 18. {{race_line|You’re on 0 today: one referral gets you on the board.}}
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In the Weeds
Devil’s in the Detail
Just don’t look at the actual copper grade!

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Our Latest Show
We Won't Die Wondering (Nic Earner)
Alkane has spun out a rare earths business, found a copper-gold porphyry, made a 7-8x on Genesis and merged with Mandalay.
And gone from single-mine producer to the ASX 200.
We sat down with MD Nic Earner to hear how.



