Liontown Hits 10kt Mark, Shipment Awaits

Resolute signs up debt while Boss hits column one nameplate

The Pre-Start

  • Resolute has picked up a US$140m debt facility (RSG) with net cash of US$97m already, suspect the facility is penned for M&A firepower…

  • Liontown announced it had passed 10kt (SC5.2)of spod con production, with its first shipment penned for Sept (LTR)

  • Meeka has received final permitting for the development of their Murchison gold project (MEK)

  • Alkane’s reserves at Tomingley grew 11% YoY to 705koz (ALK)

  • Boss Energy said its first NIMCIX column has achieved nameplate and its second is on track for production in September (BOE)

  • Aussie Super has kept up the buying spree for Woodside, now holding 6.1% (WDS)

  • Cooper Investors picked up some more Iluka, now holding 8.3% (ILU)

  • Red Hawk has been notified that 1Mtpa of capacity at Utah Point is forecasted to become available, marginally below its 1st-year plans (RHK)

  • Sovereign Metals has received test results from graphite concentrate it has produced out of Kasiya as it furthers potential offtakes (SVM)

  • G Mining says it has reached commercial production at the 174kozpa Tocantinzinho gold mine in Brazil “on time and on budget” (GMIN)

  • Kingsrose has earnt a 51% interest in the Råna Project after spending >$3m and drilling >5km (KRM)

  • Blackrock has popped up as a substantial shareholder at Develop (DVP)

  • More conference presos flying on to the ASX including Gold Road, Meeka Metals, Stavely, Havilah, Perseus, Hammer, Boss, Black Rock

High Grade It

  • Serbian protests escalate over proposed lithium mine as environmentalists aim to stop Rio Tinto’s Jadar (FT)

  • Liebherr, Fortescue reveal world’s first self-driving electric mining truck (Mining.com)

  • Australia’s critical minerals on show in $1 trillion trade talks with South Korea, UAE (West)

  • Goldman Sachs exited a long-term bullish position on copper and slashed its price forecast for 2025 by almost $5,000, citing shrinking demand in China (Bloomberg)

  • How strongly IGO is looking at M&A will become clearer when the company hosts its strategy day later this month (MiningNews)

  • Mystery investor raises questions about Northern Minerals share divestment (AFR)

  • Beament says finding “ten-baggers” comes down to one thing - having a pathway to cashflow (MiningNews)

  • A report recommending the Environment Minister make a declaration over sections of Lake Torrens in SA has emerged (Australian)

  • Lithium price crashes and Aussie miners in damage control (ABC)

  • ASX oil stocks edged lower as concerns over China's economic outlook weighed on benchmark prices (CB)

  • China’s Northern Rare Earth's September listing prices saw increases, with NdPr jumping 4% (SMM)

  • EDF raised its French nuclear production forecast for 2024 but delayed connecting a new atomic plant (Bloomberg)

  • Treasury will scrutinise new NTU shareholders after a China-linked fund ordered to offload the majority of its stake sold out to Hong Kong-registered groups with almost no corporate history (AFR)

  • Applications are now open for BHP’s Xplor program for 2025 (BHP)

  • Iron ore slid below US$100/t as stock sits on Chinese docks (AFR)

  • Steel industry decarbonisation in Australia and Asia will take time, say Rio Tinto (Australian)

  • Weir Group awarded £53m flowsheet contract for Barrick’s Reko Diq project (Mining.com)

  • Alcoa’s mountains of red mud fail to pass stability check (WA Today)

  • Every Australian lithium mine is losing money at today’s prices except for Greenbushes, as outlined in a recent Citi note  (AFR)

  • Gold miner West African Resources defended its host country amid growing turmoil in Burkina Faso (West)

Wheelin’ n Dealin’

  • Stanmore has paid US$15m upfront to Moranbah SJV (Anglo 50%, Exxaro 50%) for the rights to a designated area of Rangal (SMR) the deal includes another US$20m on first coal and a royalty capped at US$40m

  • Lotus secured its first two uranium offtakes for 1.5mlbs and a US$15m unsecured loan facility for Kayelekera restart (LOT)

  • The founder of Indonesian gold miner J Resources, is considering selling his 92.5% stake in the Jakarta-listed company (Bloomberg)

  • Lithium Australia signed an exclusive battery recycling agreement with BYD with a 3-year term (LIT)

Rattlin’ the Tin

  • Black Rock Mining and POSCO agreed to a binding US$40m equity investment, with an initial A$9m issued at a 10% premium (BKT)

  • Meeka Metals secured a $73m funding package (incl. equity, gold loan, gold stream) to fully fund their Murchison gold project into production (MEK)

  • Green Tech Metals has confirmed the completion of Tranche 1 of the EcoPro investment has settled (GT1)

Word on the Decline

  • Whispers are that another MIN truck tipped over on the service road in the last few days…

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

  • Strictly Boardroom: Lassonde’s 10 rules for gold investments (MiningNews)

  • Trader Ferg who notoriously leans into the ‘hated’ commodities, explores the synthetic graphite market in his latest article (Substack)

  • China’s new age of swagger and paranoia (Economist)

  • Global supply chains can’t skirt China rare earths crackdown (FT)

  • Here’s a walk down memory lane - Both Ral Finlayson & Bill Beament representing the JV partners at KCGM (YouTube)

  • Pretty handy Aussie takeover defence series for ASX listed co’s by the team at Hopgood Ganim (HG)

  • PM’s secret dinner at MinRes HQ (AFR’s Rear Window) Quite the dinner party - Ellison, Albo, Cook, McGowan, Meg O’Neill to name a few

  • Fading China optimism hits iron ore prices, but not yet volumes (Reuters op-ed)

  • Outback Gold Towns: What future after the rush? Landline (YouTube) Some incredible photos from towns like Big Bell from back in the day

  • Lynas boss Amanda Lacaze shares her thoughts on how to do business in Asia (AFR)

Were you forwarded this email from someone else?

Today’s Top Tweet

So much heat for the F1 sponsorship that there is now a promo video defending it…

Watch it right to the end - unsurprisingly “Presented by NexGen”

Devil’s in the Detail

Up a casual 164% yesterday were the shares of Golden Deeps Limited on pXRF readings... Ignore the headline, the real claim was on page two where the company says a 28m zone of drill core averaged 0.5% Cu.

But our sleuth has recalculated an average based on the table provided at the back. And after appropriately assigning the pXRF values of less than detection (<LOD) to zero and length-weighting the values, the real average is closer to 0.2% Cu…

Surprise surprise this morning as GED is in a trading halt for a capital raising… Here we go.

Separately, we hope Green Tech Metals double-checks their accounts when the big “A$8” cheque comes their way

GT1 $8 investment

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