The Pre-Start

  • PRU ($6.5B) - Perseus lifted its on‑market buy‑back to $150m after completing $100m (at $5.24 avg) | ▲ 9%

  • NWH ($3.2B) - PMET selected Primero's ALi leach as its preferred pathway after bench tests produced 99.8% Li₂CO₃; commercialisation talks continue

  • OBM ($2.1B) - Ora Banda signed a $233m EPC with GR Engineering for a 3Mtpa plant at Davyhurst Mill Expansion; earthworks underway | ▲ 9%

  • MI6 ($2.0B) - Minerals 260 started early works at Bullabulling, targeting construction H1 CY2027 and first gold Q4 CY28 | ▲ 8%

  • BMC ($783m) - BMC hit 5.5m at 163 g/t Ag and 6.4% Zn from 57m near proposed ABM mine at Kudz Ze Kayah | ▲ 9%

  • WIA ($747m) - Wia reported 9m at 10.6 g/t gold from 811m at Kokoseb, identifying a new deep target for underground development | ▲ 9%

  • MM8 ($319m) - Medallion hit 13.5m at 7.7 g/t AuEq from 379.9m at Hillsborough Deeps, with DHEM indicating extensions | ▲ 10%

  • CTM ($312m) - Centaurus secured Para ICMS tax incentives for the Jaguar Nickel project: equipment/inputs ICMS-exempt and fuel/power cut 50%

  • BM1 ($307m) - Ballard confirmed the Pluto discovery at Mt Ida Gold with 5m at 10.2 g/t gold from 98m

  • STK ($250m) - Strickland reported 94.3% gold recovery, 21.1 g/t concentrate from Gradina testwork, informing PFS at Rogozna | ▲ 16%

  • MM1 ($217m) - Midas reported 61m at 1.95% CuEq from 282m at the T-13 deposit, Otavi

  • TSO ($163m) - Tesoro returned 66.3m at 1.7 g/t gold from 375m at Ternera, with infill nearing completion before an MRE update

  • CHW ($82m) - Chilwa announced a maiden 34–51Mt Exploration Target at Nakombe South, grading 0.14–0.22% Nb2O5 and 0.15–0.23% TREO

  • DRE ($80m) - Dreadnought defined three >2km gold trends at the Illaara gold project, hitting 30m at 0.2 g/t gold from 90m | ▲ 11%

  • BCM ($78m) - Brazilian Critical Minerals secured ANM approval for Ema's exploration reports, triggering a one‑year deadline to file a mining licence application | ▲ 8%

  • YRL ($73m) - Yandal hit 20m at 1.7 g/t gold from 55m outside the 268koz MRE at Flushing Meadows | ▲ 13%

  • NNL ($72m) - Nordic reported 71m at 2.9 g/t gold from 207m at Kopsa

  • NMR ($51m) - Native Mineral Resources produced 398oz gold doré at Blackjack; refinery outturn for this smelt is due 19 June

  • KZR ($41m) - Kalamazoo reported 50m at 2.6 g/t gold from 129m at Mt Olympus | ▲ 12%

  • AGC ($33m) - Australian Gold & Copper hit 35m at 0.5% Cu from 353m at Evergreen, NSW | ▲ 17%

  • RAU ($31m) - Resouro's PEA for Tiros Rare Earths & Titanium project outlines after-tax NPV₈ US$715m and 44% IRR, with US$191m capex

High Grade It

  • Let the oil flow’: US and Iran ready to sign peace deal (AFR) Oil falls 4%

  • Copper prices surge as US and Iran near potential deal ending war (Bloomberg)

  • Fortescue iron ore carrier narrowly avoids grounding in Port Hedland after engine failure (West)

  • Australian miners like MinRes and PLS expand amid lithium market revival (Australian)

Wheelin’ n Dealin’

  • TFPM.TO (C$8.4B) - Triple Flag acquires gold stream on Ravenswood mine in Australia for US$440m

  • SRL ($2.1B) - Sunrise will invest US$5m in Agni Semiconductor for 17% fully diluted, with board seat and pathway to 30%

  • IPX ($1.7B) - IperionX will acquire the Camden mineral assets adjacent to Titan in Tennessee from Covia for US$3m | ▲ 8%

  • CVV ($148m) - Caravel agreed to sell a 0.75% NSR royalty over the Caravel Copper project to Regal Royalties Fund for $15m and extend its $15m loan | ▲ 8%

  • US-backed fund explores buying stake in French miner Eramet (FT)

  • Woodside says it is unaware of any proposal involving ExxonMobil (Reuters)

Rattlin’ the Tin

  • SGQ ($435m) - St George requested a trading halt pending capital raise

  • TGM ($243m) - Theta issued US$90m bonds, proceeds held in escrow pending drawdown conditions

  • M4M ($37m) - Macro Metals took a $626k unsecured 12% p.a. loan from Chair Tolga Kumova, to be repaid from mining services revenues

  • Baffinland secures US$110m loan from Ontario court for operations (Mining.com)

Word on the Decline

  • On the back of today's news from Wia Gold, we're reminded that Kokoseb (2.9 Moz in mining-friendly Namibia) is one of the prime takeover targets on the board this year. So, speculating on who tables the cheque:

    • Shanjin, the old Yintai: gatecrashed Dundee to seize Osino's Twin Hills in 2024 and is pouring concrete 150km up the same belt. Kokoseb gives it two Namibian mines

    • Zijin, fresh off a US$4bn Allied Gold raid, is ravenous for African ounces

    • Perseus: US$800m cash, zero debt, openly shopping

    • B2Gold: Otjikoto is dying; it needs a Namibian future

Got Word on the Decline? Reply or email [email protected]. We will always take your privacy seriously.

Ownership & Oversight

  • PLS ($21B) - PLS director Robert Nicholson bought $100k of shares

  • IGO ($6.7B) - IGO NED Debra Bakker resigned effective today

  • DVP ($2.3B) - Develop appointed interim CFO Felicity Hughes as Ben MacKinnon resigns

  • GNG ($966m) - GR Engineering director Peter Hood sold $1.1m of shares

In the Weeds

  • Mining for Value: A Blueprint to Eliminate Chaos, Scale Production and Unlock Latent Capacity (Amazon) New mining book just out

  • Minecrawl - New fast-paced mining pc game worth a go - ‘Wordl for mining’

  • Buying the world’s largest energy trading book (Trader Ferg)

  • The big short: Ben Cleary isn’t afraid of being controversial (AFR)

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