• Anglo American has left the door open to a takeover by BHP but has rejected an offer of $73.9b (AFR)

• Anglo rejected a 3^rd takeover offer from BHP, but extended the timeline for BHP to launch a formal offer until 5pm Wed May 29th (Mining.com)

• Resources Minister Madeleine King said thousands of workers could pay the price for BHP’s underinvestment in its ageing nickel infrastructure, with a decision on whether to close its nickel business expected by August (AFR)

• Arcadium Lithium chairman Peter Coleman said China will remain pivotal to local mining projects despite threats from the Pentagon to exclude Aussie miners from vast subsidies (AFR)

• Some prime commentary from MinRes’ Chris Ellison on his new airline MinRes Air (The West)

  

  “Balance sheet bigger than Qantas”

• A Hancock exec said WA Premier Roger Cook’s plan to make WA the “California of Australia” may mean higher emissions (AFR)

• Kali Metals turned to mining industry veteran Paul Adams to become MD less than 5 months after the lithium junior listed on ASX (The West)

• Environment Minister Reece Whitby suggested WA would have to live on “grass and honky nuts” if it abandoned the gas industry that accounts for most of its carbon emissions (The West)

• Lynas boss Amanda Lacaze clashed with Iluka chief Tom O’Leary over an earnings claim made at yesterday’s AFR Mining Summit event (The West)

• The US is on track to establish a domestic rare earths supply chain to meet its defence needs by 2027 (Reuters)

• Mining lobby warned Labor’s tax credits could create “white elephants” without proper controls (AFR)

• NSW’s largest coal power station will remain open for at least 2 more years, with an option for a further 2 after Origin Energy struck a deal with the state government (The Australian)

• DiscovEx’s backdoor listing of Lattitude 66 Cobalt has advanced further, reporting a 91% relevant interest in the target. The offer is still conditional on the satisfaction of other conditions, so it won’t proceed to compulsory acquisition just yet (DCX)

• BHP-Anglo prospects flag more M&A ahead for miners, who must become more aggressive to secure new projects or risk missing out (Reuters)

• Ecograf signed a US$9m 5-year farm-in agreement with Anglogold Ashanti to explore at EGR’s Golden Eagle project in Tanzania (EGR)

• Kaiser Reef and Ragnar Metals have entered into a strategic investment agreement, where Ragnar will invest $5m equity in Kaiser (plus receive options, an NSR, and a right to a board seat in exchange…) to fund the development of its A1 Nova Gold Project (KAU)

• You might have heard about the latest ‘new discovery’ bolter on the ASX lately, Australian Gold and Copper or simply AGC (our Ally GC reckons it has the best ticker fwiw…)

• The Cobar hopeful has been a 5-bagger in just a few short weeks thanks to some gold and silver grades amongst their polymetallic assays in recent drilling. And yesterday it reached a hefty $100 million market capitalisation…

• While we are very upfront about our ineptitude in assessing early-stage geological results, word on the decline is that Willem Middlekoop’s Commodity Discovery Fund is responsible for the recent share price appreciation, FOMO-ing into the stock on-market

• We have the privilege of speaking with mining fund managers regularly. And when it comes to Middlekoop, we are underwhelmed. If you gave him $100,000 to manage when he launched the fund in 2008, you’d have $70,600 today… a devastating result by all accounts. Yet Middlekoop wants to spin severe underperformance as ‘outperformance’ by choosing the most idiotic benchmark we’ve seen

• For the WA1 fans out there, inside “the most promising critical minerals discovery in year” (AFR)

• Big China question hangs over Australia’s critical minerals sector as geopolitical tensions loom (AFR)

• Adani is suspected of fraud, by selling low-grade coal as high-value fuel (FT)

• We’ve welcomed the 10% production tax credits but the big question is, where does additional investment to fund growth come from? (AFR)

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Disclaimer

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine 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.