Lynas Goes Heavy, Ramelius Raid Revealed

Paladin set the bar with a target of 4Mlb+ year

The Pre-Start

  • Paladin provided FY25 guidance as Langer Heinrich continues processing stockpiles, with mining to recommence in FY26. 4.0-4.5Mlb of U3O8 to be produced, while selling 3.8-4.1Mlb at US$28-31/lb (PDN)

  • Gold Road shared news on Yamarna, including results from an 18km RC & 7km DD program. A comprehensive update is due late CY24 (GOR)

  • Lynas announced that at Malaysian they’re targeting first production of Heavy Rare Earths products in CY25 for the first time (LYC)

  • Sheffield contributed $7.5m in working capital to its Kimberley JV KMS, while expecting 90kt in concentrate shipments in June (SFX)

  • Strike shared a Walyering-7 flow test update, with moveable gas & condensate recovered for further independent assessment (STX)

  • West African shared infill results from M1 South, as well as confirming development at M1S northern shoots will commence Q3 FY24 (WAF)

  • Kingsgate confirmed newly refurbished Plant #1 reached nameplate capacity (2.3mtpa), while the group’s debt facility was extended (KCN)

  • Predictive Discovery announced further resource definition drill results from Bankan, in line with results included in the PFS (PDI)

  • A stack of substantial holder notices came out overnight:

    • Tembo sold down part of their Spartan stake, down to 9.99% (SPR)

    • Paradice emerges as a 5.95% holder of West Arunta hopeful Encounter (ENR)

    • Mano Mining is up to 13% of Sierra Rutile (SRX)

    • Diatreme has edged to 67.2% of Metallica as part of its best and final takeover offer (MLM)

    • Fidelity has ticked over to 10.3% of Paladin (PDN)

High Grade It

  • Citi thinks lithium prices will fall a further 20% over the coming months pointing to signs that inventories are rising at a “dramatic pace” (AFR)

  • Why Copper Fever Is Breaking: Bets on a looming supply crunch look less sure than a month ago (WSJ)

  • BHP will source 500MW of renewable power & storage in the Pilbara by 2030 & have its first all-electric truck fleet operational prior (The Australian)

  • Momentum behind net zero pledges could be fading as Beijing prioritises economic growth and energy security (FT)

  • Canada’s oil sands were once the high-cost, dirty & unloved sibling to America’s growing shale, but are now among the sector’s top performers (WSJ)

  • Copper extended losses with USD strengthening & prices facing pressure from weak Chinese demand, hitting US$4.26/lb (Mining.com)

  • China has a glut of coal heading into summer, a successful start to its campaign to ensure enough of its mainstay fuel (Bloomberg)

  • Sibanye will be forced to halt operations at its Montana palladium mine if prices don’t recover soon, according to its CEO (Mining.com)

Wheelin’ n Dealin’

  • RMS confirmed it has purchased an 8.9% interest in Spartan (RMS) This leaves the remaining c. 52m shares that crossed into the hands of an unconfirmed buyer

  • Lundin Mining (TSX-listed) said it’d increase its ownership in the Caserones copper-molybdenum mine in Chile to 70% by acquiring an additional 19% interest for $350m (Mining.com)

  • IRH, the mining investment arm of UAE’s richest company, is confirmed to be among investors holding talks on buying into Vedanta’s Zambian copper assets (Mining.com)

  • Sihayo instructs its shareholders to take no action in relation to the bid from Provident Aurum at this stage (SIH)

Rattlin’ the Tin

  • Bannerman sought $76m via a share placement yesterday (AFR)

  • Canadian coal explorer Valory Resources is on the hunt for $20m ahead of a float late this year (AFR)

  • Tambouan has priced its chunky US IPO at US$24.00 a share, proceeds to fund the pilot project at its Beetaloo Basin (TBN)

  • American Rare Earths will receive $10.7m of grant funding from the State of Wyoming, conditioned upon being matched 1:1 with private capital (ARR)

  • Venture Minerals is in a trading halt pending capital raise (VMS)

Word on the Decline

  • The weather forecast in Kambalda this morning is 15 degrees, rainy, winds of 18km/h and a crew of unfamiliar visitors being guided around Beta Hunt today…

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

  • Here’s some detailed commentary on the state of the copper processing market by fundie Will Thomson (Massif)

  • Fear & Loathing in the Lithium Bear Market - An article on the state of lithium by Emanuel Datt (Substack)

  • For those interested in the Aussie fund’s management landscape, Mr Quick writes a monthly Substack (blog) well worth a follow (Mr Quick)

  • BHP operational carbon emissions are set for a "small increase" this financial year, an executive said on Wednesday (Reuters)

  • An intriguing visual look at how the Taliban took over Afghanistan’s mines (FT)

  • Daniel Sullivan, Head of Global Natural Resources at Janus Henderson believes we could be on the cusp of a supercycle (Livewire)

Were you forwarded this email from someone else?

Today’s Top Tweet

Sell in May and go away, they said..

Devil’s in the Detail

Here's some more fuel for the gossip fire that a Money Miner found digging around following our Anglo copper discovery rumour.

It’s an enviro report from last year for upcoming exploration work of Anglo American. Pg 32-38 shows a bunch of planned geophysical and deep diamond drill holes.

Apparently the cover is probably about 700m there, so don't think you plan for ~24 drill holes without good reason.

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.