Gold Glistens as Markets Resume Slump

Ellison rallies the troops while denying rumours, CZR starts the timer for Fenix

April 11, 2025

The Pre-Start

  • At a public hearing for the Simberi mining lease renewal, St Barbara cited strong community support, with authorities now reviewing the application (SBM)

  • Fortuna Mining produced 103koz AuEq in Q1, with no costs provided, while its Lindero leach pad expansion was completed (FSM.NY)

  • Subject to SYA shareholder approval, the company will be renamed “Elevra Lithium” upon completion of its deal with Piedmont Lithium, with SYA and PLL board nominees now agreed (PLL)

  • Santana reported new assay result from infill drilling in the southern section of its RAS South orebody (SMI)

  • Larvotto opened the Hillgrove Hub to engage the community in Armidale, while its DFS nears completion (LRV)

  • Neometals shared an update on its gold strategy, particularly the advancement of its Barambie gold project (NMT)

  • Lindian commenced early site works at Kangankunde, with the access road to be completed this quarter (LIN)

  • VHM has been awarded its mining licence for its Goschen rare earth and mineral sands project in Victoria (VHM)

  • Carnaby was awarded $386k in exploration grants from the QLD gov’t, while Iltani received $230k (CNB, ILT)

  • Aurumin reported assay results from recent drilling at its Central Sandstone project, targeting iron ore (AUN)

  • Sunshine Metals released assay results from RC drilling at the Tigertown prospect at its Ravenswood Consolidated project, including 30m at 0.58g/t Au, 57g/t Ag from 34m (SHN)

  • Aussie Super increased its stake in Evolution Mining to ~16% (EVN)

  • Norges Bank emerged as a ~5.1% shareholder of MinRes (MIN)

  • AIC Mines advised it will be transitioning its CFO role from Michael Frame to John Callagher over the next few months (A1M)

  • Spartan MD Simon Lawson sold ~$7m stock to meet personal tax payment obligations & manage family financial affairs (SPR)

  • Saturn Metals Non-Exec Chair Brett Lambert bought $45k of stock (STN)

  • Spartan shared a new presentation

High Grade It

  • The S&P 500 dropped 3.5% in another day of turbulent trading, while the Nasdaq fell 4.3% and the USD saw its worst day in 3 years (FT)

  • Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the US clarified tariffs on China had risen to 145% (AFR)

  • No raise, no sale: MinRes rebuffs rumours, declaring no plans are in place (MNN)

  • Chris Ellison bemoaned hedge funds & Trump in a memo to 6000 workers, issuing a rallying cry to “once again prove the naysayers wrong” (Australian)

  • Twiggy sounded the alarm over the threat Africa presents to WA’s “low-grade” iron ore (West)

  • The US is unlikely to challenge Australia’s dominance over coal exports to China, leading analysts say, although Trump’s push will weigh on global prices (AFR)

  • Gold prices jumped nearly 3% to an all-time high, as a drop in the dollar and an escalating trade war drove investors towards the safe-haven (Reuters)

  • Oil held its biggest drop this week as investors assessed the latest abrupt shifts in US trade policy and their effects on demand in China (Bloomberg)

  • Copper production from Chilean state-run miner Codelco dipped 6% year-over-year (98kt) in February, due to troubles at Collahuasi (Reuters)

  • Global gold ETFs grew by US$21bn in the first quarter to reach their second-highest quarterly level by value since the 2nd quarter of 2020 (NM)

Wheelin’ n Dealin’

  • CZR declared a binding offer received from the Robe River JV to be superior to Fenix’s proposal, with the matching right process commencing, giving Fenix until April 17 (CZR)

  • Rio Tinto commenced the process to compulsorily acquire the remainder of Energy Resources of Australia (ERA) $0.002 a share

  • Alpayana announced that if it is unsuccessful in its previously announced improved offer for Sierra Metals, it’s prepared to let the offer expire (ALP)

  • The US has stepped up its global pursuit of strategic minerals with the signing of a deal promoting American mining investments in Uzbekistan (NM)

  • Anglo said it’s still in talks with Peabody to sell its coal portfolio, adding that a fire at its Australian operations hadn’t caused damage (Bloomberg)

Rattlin’ the Tin

  • According to Street Talk, Aussie Super-backed Federation Mining is gearing up for a second-half IPO, eyeing a $60m raise (AFR)

  • Caprice announced a $1m drill-for-equity agreement with Topdrill (CRS)

  • Lake Resources used its at-the-market facility to raise $2.25m (LKE)

Word on the Decline

  • Turns out we were actually on-the-money in yesterday’s show - apparently Gresham is running a sale process for Gold Road’s royalty

  • We doubt it is really ‘for sale’ but a few credible offers from RoyaltyCo’s will go a long way to arguing its value to Gold Fields 

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

  • What Trump’s coal push means for the US (MNN)

  • Billionaire feud between Twiggy Forrest and Kerry Stokes sputters (AFR’s Rear Window)

  • China has a weapon that could hurt America: rare-earth exports (Economist)

Were you forwarded this email from someone else?

Today’s Top Tweet

Devil’s in the Detail

In that case, count us uneducated, Twiggy.

Catch up on our latest episode

🟢Spotify | 🟣 Apple Podcasts | 🟥 Youtube

Tin to the Moon: Paused - For Now (39 min)

All information in this newsletter is for education and entertainment purposes only and is of general nature only. The Money of Mine team 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. Information relating to our Privacy Policy is available online here.

Reply

or to participate.