Alphamin Suspension Sends Tin Flying

First Quantum cleared to sell previously blockaded concentrate; Gold hits record highs

March 14, 2025

The Pre-Start

  • Alphamin has temporarily ceased mining at Bisie in light of the conflict in North Kivu (AFM.TSXV) Stock down 38%; Metals X up 15%

  • NGEx Minerals published its 4th update on Phase 3 drilling at Lunahuasi, with a headline hit of 51.5m at 12.26% CuEq from 222m (NGEX.TSX)

  • Catalyst announced first stoping ore at Plutonic East, which saw redevelopment activities commence in April last year. Ore will be processed at the underutilized Plutonic plant (CYL)

  • Liontown released its half year accounts, showing a debt balance of $698m, while costs continue to largely be capitalised until commercial production mid-year (LTR)

  • Fortuna shared infill drilling from its Kingfisher deposit at the Séguéla Mine in Côte d’Ivoire, with results such as 10.6g/t at a 9.4 true-width from 223m to be included in reserves shortly (FVI.TSX)

  • Metro Mining provided an operational & market update for its Bauxite Hills ops, with first ship-loading targeted for 17 March post the wet season (MMI)

  • Awalé published an exploration update from its Charger target within the Odienné project in Côte d’Ivoire, with 10 holes completed & awaiting assaying (ARIC.TSXV)

  • Bowen Coking Coal reported cash generated from operations of $16m, while its capital structure was significantly altered following a raise & debt restructure (BCB)

  • Nevada King shared assays from drilling at its Atlanta gold project, hitting 2.44g/t Au and 55.8g/t Ag over 90m from 15m below the pit floor (NKG.TSXV)

  • Boss Energy advised that enCore Energy has expanded extraction capacity and is accelerating wellfield development at the Alta Mesa project (which BOE has a 30% interest in) (BOE)

  • Sprott increased its stake in Sovereign Metals to ~7.7% (SVM)

  • Non-exec director Peter Langworthy has resigned from the board at Strickland (STK) While it’ll host a webinar to provide an update on Yandal next Thurs (STK)

  • Aeris appointed Dane Van Heerden as CFO (AIS)

High Grade It

  • Anthony Albanese hits back after Leonardo Dicaprio calls out expansion of South32’s Worsley mine (West)

  • First Quantum was cleared to begin shipping out stockpiled copper in Panama, the latest sign authorities may be willing to negotiate a restart (Bloomberg) Stock traded 14% higher

  • Tin prices jumped to 8-month highs after Alphamin said it would temporarily cease operations at its Bisie (Mining.com)

  • The Aus gov’t will allocate $750m from the Future Made in Australia Fund for grants for pilot projects, R&D of new technologies, and overhauling plants to make sure WA metals manufacturers remain globally competitive (West)

  • Copper is in demand as markets prepare for tariffs (MNN)

  • The Trump administration approved a plan to expand the Spring Creek coal mine in Montana and extend its life by 16 years (Reuters)

  • 18 people have reportedly died since June 2023 building the massive Simandou iron ore complex in Guinea for Rio Tinto and its JV partners (West)

  • Anglo American has begun a consultation process in the UK and South Africa to cut jobs, amid a broader restructuring (Reuters)

  • Norton Goldfields started development of an UG mine at its Golden Cities project north of Kalgoorlie, aiming to be in full production by September (West)

  • Gold prices raced to a record high within touching distance of the $3,000/oz mark on Thursday, hitting US$2,979/oz (Reuters)

  • The coal industry said the Albanese gov’t is using incorrect costings to make key decisions about the nation’s energy mix and singled out CSIRO for criticism (Australian)

  • UAE exports of aluminium to the US jumped in the first 11 days of March as buyers stocked up on before the tariffs took effect (Reuters)

Fundies, footy and fine wine sounds like an absolute treat ahead of AFL’s Gather Round in Adelaide. Get your tickets to RRS’ Gather Round Conference here

Wheelin’ n Dealin’

  • Astral now has a ~81.5% stake in Maximus as part of its off-market takeover offer (AAR)

  • Auric Mining advised it completed DD to purchase the Burbanks plant at Coolgardie for $4.4m, settlement expected late Q2 2025 (AWJ)

Rattlin’ the Tin

  • Aspiring iron ore miner Ivanhoe Atlantic is reportedly aiming for an ASX listing in mid-2025, via an IPO looking to raise up to $300m (West)

  • Black Cat received firm commitments to raise $65m, with $53m to be received in tranche 1, before a general meeting in May to confirm the 2nd tranche. Funds to be used towards accelerating mine development at Kal East gold ops (BC8)

  • Kalgoorlie Gold Mining received firm commitments to raise $4m to fund accelerated exploration activities at their Pinjin gold project and Lighthorse discovery (KAL)

  • Green Technology Metals launched a partially underwritten entitlement offer to raise up to $4m (GT1)

Word on the Decline

  • Circling back to a topic covered in an episode earlier this week, we don’t think Rio will be arriving to bid for Kenmare

  • And some question marks still loom on Oryx Global’s funding situation for their own bid. It would be a particularly chunky bite for a brand new fund

Do you have some Word on the Decline? Reply to this email or shoot a message to [email protected] directly. We will always take your privacy seriously.

In the Weeds

  • L1 Capital is launching new gold fund to capitalise on “huge anomaly” (Livewire), while Collin Street is reopening its gold and precious metal fund for a limited time (Livewire)

  • Phil King, fund managers flock to WA for ‘Rotto’ conference (AFR)

  • Is 2025 the year of the iron ore deal? (MNN)

  • Native title ruling not the success it’s claimed to be (Australian)

  • Dig, baby, dig: the global resources groups betting on a Trump mining revival (FT)

  • New Zealand hopes fast-track approvals spark mining boom (MNN)

  • A new era for copper, uranium and gold? (Livewire)

  • The country’s highest-paid directors revealed (AFR)

  • Metals Mayhem Hits American Manufacturing and Trade Ties (Bloomberg Big Take)

Were you forwarded this email from someone else?

Today’s Top Tweet

Devil’s in the Detail

This resource is worthy of its own write-up because it is a checklist that will help you spot your own ‘Devil in the Detail’ everyday

It’s a 7-page Junior Mining Due Diligence Questionnaire shared by investment firm Incomet (LinkedIn). It’s awesome.

Catch up on our latest episode

🟢Spotify | 🟣 Apple Podcasts | 🟥 Youtube

Cobre Panama: Opportunity in Plain Sight? (39 min)

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The Money of Mine team are not financial professionals. Money of Mine are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional, along with considering any relevant Product Disclosure Statement. Money of Mine does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. Money of Mine strives to ensure the accuracy and currency of the information contained in this newsletter but we do not make any representation or warranty that it is accurate, reliable or up to date. Any views expressed by the hosts of Money of Mine are their opinion only and may contain forward looking statements that may not eventuate. Money of Mine will not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of information in this newsletter. Information relating to our Privacy Policy is available online here.

Reply

or to participate.