• Treasury’s orders for NTU holder Yuxaio to sell down its stake to 8.5% is another intriguing twist, but in line with FIRB’s previous advice (AFR)

• WA1 seesawed after its latest Luni infill drill assays, as anticipation of the maiden MRE builds (AFR)

• Gina Rinehart increased her Vulcan stake to 7.5%, with CIMIC at ~6% following a strategic placement (AFR) It requires ~€1.8b in financing

• Tianqi, a major shareholder in SQM, said it may consider action to protect its interests in a deal signed by SQM & Codelco (Mining.com)

• Rosatom is seeking to take control of Orano held uranium assets in Niger (Bloomberg)

• Creasey-backed Galileo & MinRes tied the knot at Norseman, giving MinRes the option to sole fund $15m to reach a 55% (The West)

• Endeavour Mining has begun wet commissioning of its 80% owned Lafigué gold mine in Côte d’Ivoire (Mining.com)

• Copper miner Taseko Mines’ stock fell 8% as the company suspended operations at its Gibraltar mine after workers called a strike (Reuters)

• Iron ore hit a 6-week low at $112/t (62%) on concerns over the outlook for the Chinese economy (Bloomberg)

• Gold was little changed as traders awaited more U.S. economic data this week, after recent data showed that inflation stabilised (Reuters)

• After pursuing $100-a-barrel oil, the OPEC+ cartel has thrown in the towel. Let’s see if the U-turn is a tactical retreat, or a strategic shift (Bloomberg)

• CNGR is looking to buy more South American lithium assets, as it gets close to securing LEL, with execs visiting 3 projects last week (Bloomberg)

• Evolution Energy has hired Treadstone Partners to help it find a partner for Chilalo whilst deciding to increase its member board count (EV1)

• Polymetals has received firm commitments for $6.2 million at $0.28 a share, a 20% discount to MAC’s strategic investment (POL)

• Globe Metals and Mining has entered an at-the-market facility to provide standby equity capital of up to $20m (GBE)

• Lithium Ionic raised C$15 million in a private placement with a one-for-half free warrant (JMN)

• Black Cat received firm commitments for $36 million in its two-tranche placement to restart Paulsens (BC8)

• As the Firefinch saga nears its conclusion, we continue to hear word on the decline that the “surprise" funding gap that popped its head up at Morila a mere 4 days after Leo Lithium began trading may not have been much of a surprise at all. Yes, this is the funding gap that sent the stock into what is nearing a two-year suspension from trading on ASX entirely.

• Our intel suggests that a certain well-known mining industry financier was brought in to perform due diligence on Morila for a funding facility well before the stock entered a trading halt. We are led to believe there was even a site visit too. Recall the huge portion of Ganfeng’s funding commitment at Goulamina was conditional on the demerger completing.

• Chinese EV makers, including BYD and Nio, are defying the industry pullback by cutting prices and boosting sales (Bloomberg)

• Citi’s latest research suggests global copper equities are now pricing in US$12-15k per tonne long term now. We were surprised by the analysis on Evolution Mining’s NAV per share using those numbers:

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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.