Canada Streamlines Permitting while Election Clock Ticks

MinRes' Onslow haul road is back in action, Rebels advance in the DRC

The Pre-Start

  • MinRes advised that haulage resumed at the Onslow haul road late on March 21st . Road maintenance is due for completion in Q1 FY26, while transshipper #4 commenced operations on March 22nd , taking capacity to 28Mtpa (MIN)

  • Syrah’s full year results saw it end with a cash balance of US$87m (US$58m of which is restricted) & US$256m in borrowings, with Vidalia up and running (SYR)

  • Aura Energy prodived an updated on Tiris, with hydrogeological testing confirming water supply, a general manager appointed, and with funding proposals non-binding and site visits scheduled for April (AEE)

  • Larvotto shared drilling results from Bakers Creek & Eleanora-Garibaldi, with intercepts including 8.3m @ 10.4g/m AuEq from 408m (LRV)

  • Ecograf announced the completion of an engineering study for a facility that would process 20ktpa of flake graphite, yielding 60%+ for a construction cost of US$59m (EGR)

  • Hillgrove released underground drilling from Nugent, with the area being fast-tracked for production by Dec 25’ (HGO)

  • Medallion shared assays from Trilogy, with a headline hit of 26.8m @ 7.4% CuEq from 91m (MM8)

  • Almaden filed documentation for a US$1.06b damages claim against Mexico (AMM.TSX)

  • BlackRock emerged as a 5% holder of Develop Global (DVP)

  • Regis shared an updated slidedeck (RRL)

High Grade It

  • Canada’s federal gov’t will permit major infrastructure & mining projects with provincial and territorial approvals alone, scrapping duplicative requirements (NM) One project, one review… An overdue move with their election set for April 28

  • MinRes has lowered the bar to be hired as an Onslow truck driver, despite a spate of truck rollovers caused by “operator error”, while raising pay (West)

  • An Australian engineering and logistics company, Strang, has accused diversified miner South32 of stealing secrets by using information gathered over the course of a contract to copy its products (AFR)

  • Trump has invoked wartime powers as part of a sweeping effort to increase American minerals production and curb the country’s reliance on China (FT)

  • The Aussie dollar may be headed for its first annual gain since 2020, as the RBA holds rates & the economy benefits from expected Chinese stimulus (Bloomberg)

  • Talks between the DRC & the US over a possible minerals and security deal are in the early stages, the African country’s foreign minister said (Bloomberg)

  • DRC could extend a 4-month export ban on cobalt introduced in February following a sharp drop in the metal's price, a spokesperson said (Reuters)

  • Copper bull Kostas Bintas is back predicting new records, as Trump’s threat of tariffs drains global stocks & creates what he sees as unprecedented opportunities (Bloomberg)

  • M23 Rebels have captured further area in Eastern DRC, including the mining town of Walikale in North Kivu, close to the Bisie tin mine (SMM)

This is the go-to conference to understand the huge advancements underway in the mining & METS space. Save on tix and use the discount!

Wheelin’ n Dealin’

  • Dataroom reported Ravenswood has attracted one local bidder (Regis), with one Chinese entity (Chifeng) and the remainder Indonesian, for the US$1bn+ mine (Australian)

  • On Friday CZR received a revised Robe River JV proposal, which removed the condition to negotiate and execute an asset sale & purchase agreement with Zanf, with other conditions unchanged (CZR)

  • Brazil Iron has made an offer of about US$1b to buy a Bamin in South from Eurasian Resources Group (Bloomberg)

  • Catalyst confirmed they’re selling Henty for $15m cash upfront & $14m in shares, + $14m in deferred gold consideration and a partial royalty (CYL)

Rattlin’ the Tin

  • Soverign Metals has launched a $40m raise at 85c (SVM, AFR)

  • Gorilla Gold has raised A$25m to leave it with $39m in cash (GG8)

  • Kore Potash has raised US$10m to advance its Sintoukola project (KP2)

Word on the Decline

  • Smallcap Cordoba Minerals just had an astonishing +52% week last week to end with a C$40m market cap. The stock has particularly low float given Ivanhoe Electric owns ~63% and Chinese JCHX Mining owns ~20%. A week earlier we heard how JCHX were looking heavily at Colombian opportunities. We wouldn't be surprised to see a deal to the Chinese miner on its way. And Ivanhoe Electric has plenty of things it could do with the extra cash.

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In the Weeds

  • Australia’s lithium dream is fading. Can tax breaks revive it? (AFR)

  • Going over the Tin thesis: Bottleneck + Catalyst (Trader Ferg)

  • We need a plan for the future of the resources sector (West op-ed)

  • Langer suddenly sees the elephant in the boardroom (AFR’s Rear Window)

  • Sister act: How two little-known iron ore heiresses pulled off a $5bn coup (Australian)

  • Inside Duncan Saville’s billion-dollar Bermuda Triangle (AFR)

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Today’s Top Tweet

Devil’s in the Detail

Uhhhh a pretty unusual suspension rationale for True North Copper here…

So we checked the auditor’s disclaimer and we’re left pretty curious about whatever the heck is going on…

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