ERA Scores Last Minute Court Win

NexGen hits Patterson mineralisation, Piedmont bounces on quarterly

August 09, 2024

The Pre-Start

  • ERA shared that the Federal Court of Australia made an interim order to stay the decision to refuse to renew the Jabiluka Mineral Lease (ERA)

  • NexGen has expanded the known mineralisation at Patterson Corridor East, with 8 out of 12 holes intersecting mineralisation (NXG)

  • Piedmont shipped 14kt of spod (via its contracts) from NAL, with recoveries at 68%. It experienced a net loss of US$13.3m for the Q (PLL)

  • Triple Flag Royalties declared a US$0.55 dividend and is on track for c. 110koz gold equivalent ounces (TFPM.TO)

  • Perenti, via Barminco, has secured a 3-year underground contract extension with Barrick at Hemlo (PRN)

  • Cokal is in trading halt pending new info on an underground mining agreement at Bumi Barito (CKA)

  • A bit of moving and shaking in the last 24 hours:

    • Aussie Super continue to build their Lynas stake now at 8.5% (LYC)

    • BUMA has picked up a 5.1% stake of 29Metals (29M)

    • Cranport became a substantial holder of Sierra Nevada Gold with a 7.3% stake (SNX)

    • Collins St have built their stake in Tesoro Gold to 11.4% (TSO) and are up to 7.3% in Astron post conversion of convertible notes (ATR)

    • OD6 Metals appointed Wayne Bramwell as independent non-exec chair of the rare earths explorer (OD6)

High Grade It

  • ERA secured an 11th-hour legal win just days before the mining permit was set to expire (AFR)

  • Bad news for Australia: China’s steel crisis is set to deepen (AFR)

  • China will issue 70 national standards for carbon footprints, energy efficiency & consumption as well as carbon capture & storage (Reuters)

  • Fortescue says Element Zero’s timelines and funding don’t stack up (The Australian)

  • Gold Fields signed a native title agreement with the traditional owners of the land the St Ives sits on (West)

  • IGO has entered into an agreement with ASX minnow Medallion over the potential sale of assets within Forrestania (CB)

  • Commercial crude oil stockpiles, excluding the Strategic Petroleum Reserve, drop by 3.7m barrels; Analysts predicted a 500k barrel fall (WSJ)

  • Oil prices edged higher for a 3rd straight session over market anxiety about supply risks due to tensions in the Middle East (Reuters)

  • Australian dollar climbs after central bank governor warns on inflation (FT)

  • Government retreats on solar panels as China fires up (The Australian)

  • Copper prices are back below US$4/lb, but stocks are still pricing in much higher (MI)

  • Recycler US Strategic Metals has tapped the EX-IM Bank of the US for a loan package worth US$400m with a 15-year term (Mining.com)

  • Legal fees for the 22-week trial in the class action against BHP over the 2015 Mariana dam disaster in Brazil could top £350m (AFR)

Flow Water Services

Wheelin’ n Dealin’

  • Australian Meat Industry Super’s on-market takeover for Dynamic D&B has been declared best and final, who currently hold 35.8% (DDB)

  • Strandline completed the sale of its Tanzanian mineral sands assets, total consideration of $43m was applied to debt and interest payments (STA)

  • Street Talk has followed up on word on the decline that Creasy is in talks to buy Macquarie’s $148m debt at Calidus (AFR)

  • Sierra Rutile shared an overview of its takeover offers since March, with Leonoil providing the board support offer (SRX)

Rattlin’ the Tin

  • Filo closed its C$115m placement while the Lundin-BHP takeover proceeds (FIL.TO)

  • Orezone has closed a C$65m placement to finance the expansion at the Bomboré Gold Mine (ORE.TO)

  • Sarytogan Graphite has entered into a share subscription for a $5m placement to the EBRD (SGA)

Word on the Decline

  • We’re hearing Develop is busy looking around at (troubled) base metal operations up ‘n’ down Australia… more than a couple come to mind

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In the Weeds

  • The Life and Death of Adolf Lundin (Institutional Investor) A 2006 deep dive into the patriarch of the Lundin family

  • Is the IRA the behemoth scheme we have all been led to believe? (MiningNews)

  • Northparkes Mines Promotional Video circa 1997 by North Ltd (YouTube)

  • Further to our Q&A episode, a Money Miner shared an awesome video on the issues with recycling nuclear waste (DW Planet)

  • Is Australia still the lucky country? See what our GDP ranking shows (The Australian)

  • Blaze in South Korea prompts debate over whether EVs should be allowed in the country’s ubiquitous underground parking lots (WSJ)

  • Private credit funds find $1T target in rich Australians (Bloomberg)

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