The Pre-Start
S32 ($22B) - South32 lifted the Sierra Gorda ore reserve 61% to 1,100Mt at 0.39% Cu, 0.016% Mo and 0.06 g/t Au, extending reserve life ~5 years to 2045
YAL ($7.6B) - Yancoal revised the CY26 cap on coal sales to Glencore to US$750m (from US$350m) after H1 sales of US$215m
RMS ($7.5B) - Ramelius lifted reserves 79% to 70Mt at 1.9 g/t for 4.3Moz Au, after a 1.6Moz maiden Never Never underground reserve; resources 260Mt at 1.7 g/t for 14Moz
WGX ($6.0B) - Westgold's Scoping Study outlines Meekatharra Expansion Plan to lift capacity to 2.9Mtpa for ~$100m, adding ~47kozpa gold with 9‑month payback
SX2 ($3.3B) - Southern Cross reported 0.3m at 1,466 g/t gold from 886.7m at Rising Sun
DBI ($2.6B) - Dalrymple Bay reported H1 EBITDA of $150.5m (+4.7%) and declared a 6.75cps distribution; TY-26/27 distribution guidance remains 28.6cps
FFM ($1.5B) - FireFly released a PEA for the Green Bay project showing NPV₇ ~$2.2B, 42% IRR and C1 US$2.1/lb for a 1.8Mtpa case producing 50ktpa CuEq, with a 4.6Mtpa option at NPV₇ ~$3B
MAD ($1.4B) - Mader posted $1B revenue and $65.4m NPAT with $35.7m net cash in FY26, guiding to at least $1.1B revenue and $72.5m NPAT in FY27
BTR ($549m) - Brightstar logged visible gold over 400–500m tonalite at Two Mile Hill, Sandstone, with host >300m wide at 700m depth | ▲ 8%
SMI ($532m) - Santana said the Expert Panel on its FTA sought a 10-day pause before deciding Bendigo–Ophir gold project consents
SGQ ($439m) - St George lodged the EIA/RIMA, commencing permitting at Araxá
WTM ($258m) - Waratah extended Consols mineralisation at Spur by 75m and hit 12.7m at 1.4 g/t gold from 44m
HRN ($210m) - Horizon Gold confirmed an 800m extension at Howards, Gum Creek gold project, WA, 6m at 5.6 g/t Au from 70m
AGE ($200m) - Alligator Energy hit 1.9m at 0.032% eU₃O₈ from 100.9m at Big Lake Uranium, confirming roll-front system with palaeochannel open ~12km
ZEO ($179m) - Zeotech's zeoteCH₄ landfill cover cut methane emissions 92% versus controls in a six‑month Qld trial, per Griffith University's final report
ENR ($120m) - Encounter reported 33.7m at 3.8% Nb₂O₅ from 39m at Green, Aileron; diamond drilling commenced at Emily | ▲ 20%
CAY ($108m) - Canyon said lender AFG suspended credit-facility drawdowns pending a review, as its IBC urges take no action on A2MP's 5c bid
BH6 ($104m) - Broken Hill Gold in trading halt pending White Dam results
CRS ($79m) - Caprice reported 7m at 4.5 g/t gold from 239m at Vadrians, extending the system at the Island Gold project | ▼ 7%
ASN ($74m) - Anson confirmed a 2.5km mineralised palaeochannel linking McCoy Group and Cactus Rat at Yellow Cat, though most holes returned only minor, sub-economic mineralisation | ▼ 7%
VMC ($67m) - Venus reported 43m at 1.44 g/t gold from 164m at Bellchambers, extending mineralisation beneath the current MRE
ESR ($67m) - Estrella in halt pending ASX query and exploration update
ANX ($59m) - Anax lifted Mons Cupri MRE to 6.3Mt at 1.4% CuEq (87.2kt CuEq), up 24%, with a reserve update next quarter
WCN ($55m) - White Cliff extended Danvers 1 at Rae Copper to 4.8km of mineralisation, with 14.5m at 1.49% Cu from 167m | ▲ 6%
FEG ($52m) - Far East Gold completed a scoping study for Idenburg’s Sua but withheld economics as the study relies on inferred resources
YRL ($49m) - Yandal reported 17.5m at 2.3 g/t gold from 127.5m at Arrakis, confirming a new domain within Ironstone Well-Barwidgee | ▲ 10%
GWR ($47m) - GWR said the Takeovers Panel declined proceedings on Jeremy Raper's association/beneficial ownership allegations; issues referred to ASIC
VTX ($41m) - Vertex won approval for 24/7 operations at Reward gold, NSW, enabling an October 2026 ramp-up
OD6 ($41m) - OD6 Metals re-assays at Horseshoe, Nevada, lifted grades (+12.9% CaF₂ avg), incl. 50m at 79.3% CaF₂, superseding 8 Jul results
S2R ($40m) - S2 Resources deferred aircore at Jillewarra, pending drilling and heritage approvals, while scheduling October drilling at Warraweena to test T37 gold and Lilyfield copper | ▼ 5%
MRD ($40m) - Mount Ridley in trading halt pending scandium MRE update
WGR ($28m) - Western Gold said Wiluna deferred third-party tolling at its mill and it is seeking further information | ▼ 19%
CZN ($24m) - Corazon set a maiden Exploration Target at the Two Pools Gold project of 1.4–2.2Mt at 1.6–1.9 g/t gold (72–132koz)
DSM ($21m) - Desert Minerals posted a maiden 265Mt at 1,006 ppm Li MRE for Scotty Lithium, including 140Mt indicated
Soaring data centre demand brings NSW electricity squeeze forward by years (Australian)
Zijin warns of up to 57kt copper shortfall at Kamoa-Kakula after Congo mine flood (Mining.com)
PLS poised for big bet on lithium as output hits record high (AFR)
MMG restarts Las Bambas after fatal accident investigation (Mining.com)
FRS ($652m) - Forrestania extended its bid for Zenith Minerals to 7 Sep
LLM ($68m) - Loyal received WA court approval for Bumi's 100% scheme
CZR ($52m) - CZR despatched bidder's statement for a takeover of Zuleika, offering 0.1742 CZR shares per Zuleika share
ORP ($48m) - Orpheus Uranium flagged a delay to completing the Oobagooma Uranium project acquisition, citing third‑party agreement transfers still pending
Agnico Eagle Mines acquires Quebec junior stake for $41m, expanding Abitibi footprint (Mining.com)
AEV ($38m) - Avenira launched a 3-for-2 renounceable rights issue to raise up to $48.9m at $0.006 to fund Wonarah Phosphate development
Indian government to sell up to 6% stake in Hindustan Copper via OFS (Reuters)
White Rock Lithium shares surge 35% on ASX debut, raising $6m for Banana project in Quebec (West)
US Ex-Im Bank boosts loan for Ivanhoe's Santa Cruz copper project to $1.1B (Mining.com)
Word on the Decline
These numbers for Pan African’s medium-term outlook on Tenant Creek potential seem ambitious to us. 10-15kt copper pa would likely be easier if they owned 100% of CuFe.

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Ownership & Oversight
FMG ($55B) - Fortescue appointed Sigrid Kaag as director
WHC ($6.4B) - Whitehaven director Mick McCormack bought $74k of shares
PAF ($5.9B) - Allan Gray lifted its stake in Pan African to 5.1%
EQR ($1.9B) - EQ Resources appointed Nicole Brook and Taki Dermedgoglou (Forrest nominee)
AUC ($814m) - L1 bought $11.4m of Ausgold shares, lifting its stake to 9.1%
BMC ($742m) - L1 bought $21.3m of BMC shares, lifting its stake to 14.9%
CNB ($275m) - Trium Capital took a 5.1% stake in Carnaby after buying $13.5m of shares
FEX ($200m) - Craig Douglas Mitchell sold $2.9m of Fenix shares, reducing his holding to 9.7%
AKM ($112m) - Aspire appointed Chen Li as independent non-executive director
LM1 ($29m) - Forrestania lifted its stake in Leeuwin to 11.5%
TG6 ($28m) - Forrestania added $636k of TG Metals shares
In the Weeds
Metal & Mining Gigacycle: Parsing Metal Demand at the Source (RCF) Metal-by-metal breakdown
Gold explodes as debt bombs drop (Dryblower)
Bill Beament - How I Made It (AFR)
Alara (AUQ) – why does it trade at 1x FCF? (Raper Capital)
James Chessell talks to Simon Trott (AFR)
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