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- Antipa rattles the tin before Xmas
Antipa rattles the tin before Xmas
MinRes confirms Hancock gas sales, Capricorn make leadership change
The Pre-Start
Capricorn CEO Kim Massey will retire from his role at the end of Jan 25, with current COO Paul Criddle named as his successor (CMM)
MAC Copper (previously Metals Acquisition Corp) has negotiated with Sprott the ability to repay their mezzanine debt early (MAC) there’s a hefty fee involved of 4% the US$145m principal plus up to 6 months of forgone interest expense
Horizon Minerals released a PFS & ore reserve on its Pennys Find project, outlining ~30koz production over ~2 years to generate a NPV5 $21.4m at $3,600/oz gold price for ~$24m capex (HRZ)
Lefroy signed an agreement with mining contractor BML Ventures to support the development of their Lucky Strike gold project (LEX) Project has a ~77koz at 1.95g/t Au resource
Bannerman says it has made significant progress with its early works construction at Etango uranium project (BMN)
Santana announced the fast-track approvals bill passed in NZ’s parliament, with applications open for to be received in early Feb (SMI)
Aeris signed an open pit mining contract with Mackellar, scheduled to start in Feb 2025 at Tritton (AIS)
Black Cat provided an update on its open pit mining operations at Myhree, with ore production currently ahead of plan (BC8)
Cobalt Blue provided an update on its Kwinana cobalt refinery plans, in preparation for a financing decision in 2025 (COB)
Patronus announced that John Ingram has been appointed MD, while Nicholas Anderson has departed the board (PTN)
Delphi / Deutsche Balaton increased it stake in VRX Silica to 14.1% as part of its participation in the recent placement (VRX)
From the drillbit:
Wia Gold reported results from its second phase RC drilling program at its Bouaflé gold project in Côte d’Ivoire (WIA)
Meeka reported drilling results from its proposed open pit mining areas at Turnberry and St Anne’s, including 9m at 16.8g/t Au from 51m (MEK)
Legacy Iron Ore released some gold intersections from its recent resource definition program at its Mt Celia operation (LCY)
Sun Silver released assay results from some extensional holes at Maverick Springs (SS1)
Aurum reported assay results from its Boundiali gold project in Côte d'Ivoire, including 1.2m at 277.5g/t Au from 31m (AUE)
Maximus received assay results from an RC drill program at its 8500N Paleochannel, including 2m at 28.6g/t Au from 6m (MXR)
Southern Cross hit 242m @ 6g/t (uncut), drilling through 8 veins at Sunday Creek (SXG)
Hot Chili shared a hit of 202m @ 0.6% Cu, 0.3g/t Au from 70m (HCH)
Green Tech Metals hit 18.7m @ 1.39% Li2O at its Despard prospect (GT1)
High Grade It
BHP’s Samarco class action shrinks as Brazilians quit (AFR)
BHP, Rio, Woodside and BlueScope will partner on an electric smelter iron-making pilot project at Kwinana as part of WA’s green iron push (BN)
Tasmania’s huge Savage River iron ore project at risk as prices fall (AFR, GRR)
Peru orders definitive closure of Tucari mine due to pollution of the Coralaque River (MiningNews)
Capricorn Metals CEO Kim Massey to retire in January (CB)
Uranium spot prices to climb in ‘staircase’ pattern, Sprott forecasts (NM)
“Pump and dumper” behind NSW mining application wave (AFR)
A judge hearing a secrecy push by Chris Ellison & MinRes has raised doubts about the usefulness of their lawyer’s reconciliation of sensitive Federal Court allegations with recent publicity (West)
Idemitsu has taken majority ownership of Australian battery start-up Vecco it intensifies its pivot away from Australian coal mine ownership (AFR)
Two white-tailed spider bites & sleeping with the lights on have been blamed for a train crash that sparked a major safety overhaul by BHP (Australian)
BHP expects increasing uncertainty in the near term as US President-elect Donald Trump prepares to implement a slew of tariffs (Bloomberg)
Vulcan ties up $1.45b in part funding for Germany lithium project (CB)
BlueScope wanted to build a major green iron pilot plant at Port Kembla but lost out to WA after the state put up a $75m assistance package (Australian)
The DRC has filed criminal complaints against Apple subsidiaries in France & Belgium, accusing it of using conflict minerals in its supply chain (Reuters)
Wheelin’ n Dealin’
Kazatomprom said on Tuesday that Russia's Rosatom was selling its stakes in some uranium deposits which the two groups had been developing together to Chinese-owned companies (Reuters)
MinRes completed the sale of its gas assets to Hancock and confirmed receipt of the initial consideration of $780m (MIN)
Iceni Gold has entered up to a $35 million farm-in with Gold Road over their Guyer gold trend, GOR has also acquired a 9.9% interest in Iceni for A$3m
Fenix has acquired the Beebynganna Hills Iron Ore project off Spartan, paying $250k cash with a $1m milestone payment (FEX)
Ironbark Zinc (renaming to Skylark Metals) has agreed to sell its Citronen project, leaving it with +$10m cash and touting a Nordgold strategy (IBG)
Altech announced a heads of agreement with Axsol, with offtake for 10MWh (yr 1) and rising over 5 years, commencing Q1 2027 following commissioning (ATC)
Rattlin’ the Tin
QLD-based Novonix has been offered a further US$754m in loans from the US DoE to support the construction of another synthetic graphite facility (MiningNews)
Vulcan signed a €879m conditional debt commitment letter with Export Finance Australia and a syndicate of 7 commercial banks to develop the company’s Phase One Lionheart project (VUL)
Skeena’s Eskay Creek bulk sample permit unlocks US$200m in gold project funding (NM)
Antipa Minerals is in a trading halt to raise capital (AZY) raising $15 million at 2.5c… A head scratcher why raise when they are cashed up from recent aset sale?
Tungsten Mining completed its $4.5m convertible notes capital raising (TGN)
In the Weeds
November Fund Performance (MrQuick’s Newsletter) Aussie fund performance
Trader Ferg and Emanuel Datt catch up (Substack Podcast) coal, energy, tin, PGMs discussed early: WHC, YAL, BTU, MLX, WA1, ADT, KAR, JMS, ZIM
China's steel sector is not as gloomy as it appears (Reuters)
Critical minerals manufacturing dream tempered by harsh reality (AFR)
Strictly Boardroom: a Champions League of critical minerals (MiningNews)
Critical metals will be a key battleground in US-China trade war (Reuters)
Coal stocks down with broader energy, materials (Coal Trader)
Today’s Top Tweet
If you pay peanuts you get monkeys
— Emanuel Ajay Datt (@eadatt)
7:36 AM • Dec 17, 2024
Devil’s in the Detail
How’s the verification on this chart?
Plus, ever seen a CEO resignation announced on page 2 of a cleansing notice?
Neither had we until this one from Surefire Resources…
Yes, it’s a week old but only just put on our radar…
Catch up on our latest episode
🟢Spotify | 🟣 Apple Podcasts | 🟥 Youtube
18 Fund Managers on their 2025 Big Bets (Part 1) (54 min)
As 2024 draws to a close, it’s the perfect time for fundies to pull out the crystal ball and tell us what they’re seeing.
In part 1 of this 2025 predictions bonanza, we hear what’s going to be hot, and what’s not in the upcoming year, plus some wisdom on quiet bolters to keep an eye on.
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