NST ($28B) - Northern Star bought back 260k shares for $5m, taking cumulative total to $87m, under its up to $500m buy-back | ▼ 6%

MI6 ($1.8B) - Minerals 260 reported 15m at 3.8 g/t gold from 24m at Bullabulling, with maiden reserves and PFS July 2026 | ▼ 5%

MC2 ($1.1B) - Marimaca intersected 96m at 1.19% Cu from 692m at Pampa Medina, Chile, including 16m at 5.70% Cu from 704m

AMI ($516m) - Aurelia commissioned a tailings thickener at Peak, supporting a lift from 0.8Mtpa to 1.1–1.2Mtpa and lower cyanide use; the tertiary ball mill is due Q1 FY27 | ▼ 7%

AIS ($497m) - Aeris reported 14.2m at 9.1 g/t gold from 172m at the Main lode of Golden Plateau, Cracow | ▼ 6%

MMI ($468m) - Metro shipped 604kwmt in May as the Ikamba OFT returned, maintaining CY26 shipment guidance at 6.6–7.1Mwmt

MM8 ($343m) - Medallion completed FEED for Cosmic Boy refurbishment, signed a $7.6m early works deal, and targets commissioning in Q2 CY2027

MRT ($249m) - Maritana lifted Black Swan throughput to 2.5Mtpa post-FEED; capex rising and under review; cash $229m | ▼ 5%

ATR ($236m) - Astron's revised Phase 2 study for Donald sets $557m capex for incremental NPV₈ of $1.5B and a 52-year mine life

HRN ($198m) - Horizon reported 6m at 5.1 g/t gold from 95m at Swift, with drilling extending Eagle ~300m south at Gum Creek

CNB ($185m) - Carnaby confirmed Miniboom near Mount Hope Central at Greater Duchess, with 50m at 2.7% CuEq from 83m

PHO ($93m) - PhosCo reported a new phosphate discovery at Gasaat (Tunisia), with 18.8m from 41m at KH, 3.5km from the proposed plant

NNL ($77m) - Nordic hit 70m at 1.34 g/t gold, 0.18% Cu and 4 g/t Ag from 202m in a step-out at Angesneva on the Kiimala Trend, Finland, extending mineralisation north beyond the current resource

YRL ($77m) - Yandal reported 11m at 1.7 g/t gold from 84m at Arrakis within the Ironstone Well-Barwidgee gold project

MYE ($71m) - Mastermyne expects FY26 revenue $220–230m and EBITDA $17–18m at the upper end of guidance, and holds $37m net cash

NMR ($51m) - Native Mineral Resources' Blackjack operations in Qld delivered a record month since restart with 0.4koz recovered gold

AW1 ($50m) - American West reported 108m at 25.2 g/t indium from 471m at West Desert, 430m east of the resource

PXX ($46m) - PolarX commenced JV drilling at Caribou Dome and reported 3m at 11.2% Cu, 12.6 g/t Ag from 65m

WCE ($45m) - WCE Silver extended silver mineralisation 70m beyond maiden MRE at Elizabeth Hill, with 60m at 25 g/t Ag from surface | ▼ 12%

MRZ ($42m) - Mont Royal's updated PEA for the Ashram Rare Earths & Fluorspar project in Quebec outlines post-tax NPV₈ C$2B, capex C$1.2B, AISC C$18.6/kg, and 17.5ktpa TREO over 30 years | ▼ 16%

BHP faces potential $126m daily loss from union shutdown at Port Hedland (Australian)

‘War’: Inpex LNG facilities hit with rolling 8-hour stoppages (AFR)

MinRes secures offtake deals for European iron pellet plant (BN)

China coking coal prices hit highest since 2024 after Shanxi mine shutdowns (Bloomberg)

Indonesia centralises control over strategic commodity exports to boost state earnings, cutting nickel ore quotas (Reuters) NEWC at $152/t+

CMOC is offering bonuses to end a strike at Tenke Fungurume (Bloomberg)

EQR ($1.2B) - EQ Resources will acquire six Hodgkinson EPMs near Mt Carbine from Sunshine for $250k

LRV ($690m) - Larvotto is in a trading halt pending a material acquisition

FRS ($681m) - Forrestania will acquire Zenith via an off‑market scrip bid offering 1 FRS share per 4.3 ZNC shares (implied $0.132, 47% premium), unanimously recommended by the Zenith board | ▼ 8%

LAC ($81m) - Lac Gold completed the acquisition of Golden Patricia in Ontario from Barrick, taking 100% ownership; Barrick retains a 2% NSR

OD6 ($36m) - OD6 Metals exercised its option to acquire the Quinn Fluorspar project in Nevada | ▼ 8%

Botswana seeks UAE and Oman partners to acquire De Beers stake from Anglo American (Bloomberg)

Federal Court allows Rio Tinto to acquire ERA, sealing Jabiluka's fate (Australian)

AQI ($277m) - Alicanto is raising $25m, with the right to accept a further $5m, at $1.55

PEN ($196m) - Peninsula raised $36m at 35c to fund Lance uranium ramp-up

CP8 ($61m) - Canadian Phosphate opened a renounceable rights issue at 14c to raise up to $5m, with 1-for-2 options

ASX explorers increase investment outflows in March quarter, fastest pace in decade (BN)

Sinda files for US IPO amid rising investor interest in mining stocks (Reuters)

Gold Mines Australia shifts ASX listing plans to Canada due to tax changes (Australian)

It has been a little too quiet in uranium M&A, which usually means one of two things: nothing is happening, or everything is.

NexGen was the consensus takeover pick for 2026. Rook I secured its long-awaited federal approval in March, removing the most obvious regulatory hurdle for would-be acquirers. Six months ago, fund managers were confidently pencilling in a deal (it was a common prediction in our 2026 fundie predictions episodes).

Now, as June rolls on, the conversation has shifted. Rather than debating who buys NexGen, the market seems increasingly focused on whether anyone is coming, and more importantly, worrying that management might have to develop it themselves.

Boss, meanwhile, is sitting on 19.8% of Laramide and could probably use a second third act beyond Honeymoon and Alta Mesa.

Then there is DevEx, a uranium vehicle capital markets would love to fund the moment it gets its hands on a worthy project. A Marnie Finlayson and Tim Goyder combination would be a money magnet with a worthy project. They’re surely looking hard for one.

LIN ($1.4B) - Lindian cancelled 13m performance rights held by former chair Asimwe Kabunga's nominee; a $10m claim is reported but not served

AUC ($460m) - Ausgold appointed John Sofield project director

AON ($79m) - Apollo NED Paul Roberts resigned effective today

CAV ($40m) - Carnavale director Ron Gajewski will retire effective 30 June

Datacenters Are the New Shale Oil… (Kuppy)

China: Value in Exile (Fred’s Corner)

A small rebellion is underway among Cygnus shareholders after management agreed to hand the company to CAML for an implied 17.6c a share.

The outrage stems from a fairly simple observation: everyone seemed to think Cygnus was worth considerably more than that right up until the moment it wasn't.

Retail shareholders have responded in the traditional manner, producing a HotCopper dissertation arguing fair value sits somewhere between 27c and 34c, with broker targets stretching as high as 53c!

The broker target is particularly amusing. The most bullish valuation comes from the same corner of the market that was happily placing stock at 17c a few months ago.

Such is the beauty of equity research, where fair value is often discovered shortly after the deal is announced…