The Pre-Start
IVN.TO (C$17.1B) - Ivanhoe reported 71kt of copper in anode production at KK in Q1 2026, with smelter ramp-up and recovery efforts progressing, while Platreef is expected to reach commercial production in mid-year
AII ($7B) - Almonty relocated its corporate headquarters to Dillon, Montana | ▲ 15%
KNT.TO (C$6.3B) - K92 produced 47koz AuEq at Kainantu, in line with budget, with strong throughput and development supporting ongoing expansion and reaffirming full-year guidance
KCN ($1.4B) - Kingsgate set FY26 guidance at 85–95koz gold with AISC of US$1,550–1,750/oz (pre-royalties), has produced 66koz YTD, and holds ~US$150m in cash, bullion and dore | ▲ 5%
AUC ($515m) - Ausgold reported new assays at Katanning, led by 11m at 7.9 g/t gold from 99m, with extensional hits indicating a ~620m down-plunge repetition at White Dam beneath the MRE
NMG ($500m) - New Murchison hit 18m at 10.3 g/t gold from 54m at Crown Prince East within the planned pit and will update the resource and pit design to prepare for mining under the existing Crown Prince approval | ▲ 7%
PSC ($265m) - Prospect reported gold in 29 of 32 re-assayed holes at Nyungu Central (Mumbezhi), to be incorporated into a Q2 MRE update; best new intercept 23.1m at 0.55 g/t from 83m
POL ($220m) - Polymetals produced 547koz silver with 1.9kt zinc and 1.1kt lead in the March Q, closed with $23m cash and $38m unsold metal (+$28m QoQ), with DSO sales set for first shipment in April | ▲ 15%
RML ($128m) - Resolution produced 99.4 wt% Sb₂O₃ from Antimony Ridge stibnite via conventional pyrometallurgy, with further refining and testwork underway
ZEO ($124m) - Zeotech completed the detailed mine plan for initial kaolin DSO at Toondoon, targeting a minimum 10kt trial shipment
GHM ($111m) - Golden Horse intercepted 7m at 13 g/t gold from 13m at Hopes Hill South, 200m south of the Hopes Hill pit
HAS ($104m) - Hastings signed a two-year offtake with Enuo for a minimum 5ktpa of 54% TREO monazite, securing feedstock to commission its Thai Hydromet plant in June and start MREC production by Q4
CRI ($67m) - Critica lifted pilot plant recoveries at Jupiter to ~81% MagREO and ~71% TREO from 2,137 ppm feed, supporting the Scoping Study
LCY ($63m) - Legacy Iron lifted the Mt Celia MRE to 8.8Mt at 1.4 g/t gold for 390koz, up 53% vs Mar '25 | ▼ 8%
STM ($61m) - Sunstone drilled 200m at 0.45 g/t AuEq at Copete to support growth of the 3.6Moz AuEq MRE at the Bramaderos gold-copper project, with a scoping study imminent | ▲ 15%
BSX ($60m) - Blackstone has had the Cease and Desist Order lifted at its Mankayan project in the Philippines, allowing PFS drilling to restart | ▲ 40%
VKA ($39m) - Viking has commenced sampling of historical tailings and ore stockpiles at the Linka tungsten project in Nevada to assess reprocessing potential
High Grade It
WA’s Premier has flagged support for the state-owned Perth Mint to expand its operations beyond gold production and investigate processing rare earths (AFR) The natural progression… this will surely end well.
WA is considering its own strategic stockpile of diesel with fuel paid for by the state after the Iran war led to shortages for key industries (Bloomberg)
Zimbabwe has granted two Chinese miners export quotas for lithium concentrates, two months after it suspended exports (Reuters)
Indonesia will hike benchmark prices for nickel ore, which will raise the price floors for all grades of nickel ore, hitting processors (Bloomberg)
Aluminium makers EGA, Century plan to break ground later this year on facility that would more than double U.S. smelting capacity (WSJ)
Codelco faces 10c per pound cost increase due to Middle East war (Mining.com)
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Wheelin’ n Dealin’
Rio could unlock $7.1B from power assets while AGL is seeking partners for renewable projects, as miners look to unlock capital and energy developers scramble to meet gov’t targets (Australian)
Denarius Metals offers to acquire Emerita Resources in Spain's Iberian Pyrite Belt (Mining.com)
PTN ($96m) - Golden Mile agreed to sell its remaining 20% of the Leonora Gold JV to Navigator (a Patronus subsidiary) for $250k cash, with completion expected next week subject to regulatory and third-party approvals
Rattlin’ the Tin
CATL is considering a share sale to raise up to $5B in Hong Kong following a stock rally (Bloomberg)
PLS ($17.2B) - PLS Group plans to issue up to US$500m senior unsecured notes due 2031 to refinance existing credit facilities and for general corporate purposes
MM1 ($159m) - Midas is in halt pending a capital raise and resource update
In the Weeds
Mr Fix-it takes unusual path to the top of WA’s business scene (AFR) John Van Der Wielen, the Perth Mint’s new boss
Realpolitik (Myrmikan) “The Fed needs to start printing no matter what happens”
Where are the shareholders' yachts? (Dryblower)
Keiko Fujimori leads Peru presidential vote, impacting mining sector outlook (Mining.com)
Minerals Council split over its next chair (AFR oped) Mark McGowan & Joel Fitzgibbon
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Ownership & Oversight
PDI ($2.4B) - Predictive directors Andrew Pardey and Sandra Bates exercised 3.1m and 1m ZEPOs
BRE ($1.2B) - Bernardo da Veiga became a substantial holder in Brazilian Rare Earths with 5% following option vesting and conversion | ▲ 5%
STN ($295m) - Saturn appointed Warren Hallam as NED
VMM ($246m) - Viridis director Timothy Harrison exercised 200k options at 40c
NVX ($245m) - YA II PN sold $5m of Novonix shares on-market
AS1 ($209m) - Asara appointed Jeff Quartermaine as Chair, with Brett Montgomery moving to NED | ▲ 19%
AA2 ($111m) - Ariana appointed Michael Atkins as Non-Exec Chair
5EA ($89m) - 5E Advanced Materials appointed Jonathan Siegler to the board as Bluescape’s designee
FLG ($81m) - Flagship appointed Zhongyi (John) Zhang as director
VML ($32m) - Benedict Chan converted $1.12m of loan and interest into 11.2m new Vital shares, lifting his stake to 11.1%
Devil’s in the Detail
We’ve reached the point where you wake up, read the headlines, and wonder if you’re still asleep.
Let this one be a dream.
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