De Grey Talks Up Underground, Aussie Super Shopping Continues

Hiccups felt at Northern Star's Super Pit while expansion rolls on

The Pre-Start

  • Boss Energy’s spin doctors talk enhanced production by incorporating Gould’s Dam at Honeymoon (80kms away) but provide no information on whether a second drum of U3O8 has actually been produced (BOE)

  • De Grey are talking up the potential of underground mining as an upside to the DFS case with infill drilling results this morning (DEG)

  • Capstone Copper announced that first saleable copper concentrate was been produced at Mantoverde in Chile (CSC)

  • Meteoric signed a MoU with SENAI Regional Department of Minas Gerais, owner of the first permanent magnet maker facility in Latin America (MEI)

  • Aussie Super have continued their buying spree, snapping up some more of Lynas Rare Earths (LYC)

  • NexGen reported that the Canadian Nuclear Safety Commission concluded its 30-day completeness check (NXG) A nothing announcement if we’ve ever seen one

  • CEO Theuns de Bruyn has avoided being ousted as a director of Sierra Rutile by a shareholder vote yesterday (SRX)

  • Work has commenced at Black Cat’s Myhree, including haul road and topsoil clearing (BC8)

  • A heap leach pad has collapsed at Victoria Gold Corp’s Eagle Mine, which has seen shares plummet 82% for the single asset (VGCX)

Image of the collapsed heap leach at Eagle Mine

High Grade It

  • Safety issues and processing plant outages emerge at Northern Star’s Kalgoorlie Super Pit as the mine undergoes a massive expansion (West)

  • Why Sev.en abandoned its Coronado coal deal (The Australian)

  • Spartan & Red 5 bosses Simon Lawson and Luke Tonkin sell down amid spending spree speculation (West)

  • The Whyalla steelworks should recommence normal op’s soon after its damaged blast furnace hit a key recovery milestone (The Australian)

  • Lithium’s low price doesn’t justify new investments in plants for the battery metal, said a top Albemarle Corp. executive (Bloomberg)

  • Clive Palmer said he’s on solid legal footing with new damages claims worth about $40b against the Commonwealth over Waratah coal (AFR)

  • Senex finally secured approval for its $1b expansion, tempering some medium-term gas supply concerns for the East Coast (The Australian)

  • Oil was steady near its highest close in eight weeks amid simmering geopolitical tensions from Yemen to Russia (Bloomberg)

  • Gold prices were steady as Western investors looked for more certainty on the timing of future U.S. rate cuts (Reuters)

  • Copper stocks registered with the world's big three exchanges have risen above 500k metric tons for the first time since Aug 2021 (Reuters)

Wheelin’ n Dealin’

  • A party named Resource Capital Investments has been trying to acquire up to a 20% interest in the delisted AVZ Minerals for 1c per share. Shareholders have been told to reject the offer. And apparently the Lock funding is still happening. Let’s see how this pans out…

  • Diatreme moved to a 63.79% holding of Metallica, declaring its unconditional takeover offer best and final (MLM)

  • Macmahon’s takeover of Decmil takes another step forward, with the scheme booklet registered with ASIC yesterday afternoon (DCG)

  • Private mining equipment biz National Group has reportedly agreed terms to refinance $210m worth of debt due Aug 30th (AFR)

  • TSX-listed Skeena Resources has secured a $750m financing package for its 100%-owned Eskay Creek mine redevelopment (Mining.com)

Rattlin’ the Tin

  • Bannerman Energy is in trading halt for a capital raise (BMN)

  • Theta Gold Mines completed an additional placement for US$4 million (TGM)

Word on the Decline

  • Our spidey senses tell us there’s at least some truth behind last week’s Dataroom conjecture on Regis and Gold Road. The two were rumoured to have been close to a deal last year too. Lets see how things eventuate this time…

  • And given that we think Gold Fields is active in West Australian M&A once again, if we were advising Gold Road, we’d be trying to maximise value with some competitive tension from the Gruyere operator

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

  • Is Wang Chuanfu, founder of BYD, China’s answer to BYD? (Bloomberg)

  • QLD’s CS Energy will likely be broken up after a damning report found organisational chaos & cost-cutting was behind an explosion (The Australian)

  • Michael Pezzullo, former Home Affairs head, hit out at China’s soft power “panda diplomacy” that defined Premier Li’s trip to Australia, & said politicians must confront the CCP (AFR)

Were you forwarded this email from someone else?

Today’s Top Tweet

Devil’s in the Detail

We tend to have sympathy for disgruntled shareholders who have limited ways to express their dissatisfaction with the board directors and management teams steering the companies. One of the few options they have is the mighty Section 249D!

Unless of course, the company calls your attempted 249D “invalid” - as was the case with microcap Amanai Gold on Monday this week. That’s certainly one way to get our attention…

And we’ve got to say, the more we look into this company, the worse it gets. We’ll have more to say on this in a future episode. And it will be a rant.

Catch up on our latest episode

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.

Reply

or to participate.