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- Nuclear Declarations Roll in at COP29
Nuclear Declarations Roll in at COP29
29Metals receive another cheque from the insurers while Wildcat denies ASIC raid
The Pre-Start
De Grey updated the MRE for Hemi, lifting it to 264Mt @ 1.3g/t for 11.2Moz with regional projects adding a further 2.4Moz (DEG)
29Metal’s insurers agreed to make a further unallocated progress payment of $21m for Capricorn Copper losses, while the underground component remains unresolved (29M)
Wildcat responded to an article published in the AFR, stating that its offices have not been raided by the ASIC (WC8)
Hastings released a project & financing update, acknowledging that on Nov 6 it received a purported notice of default from Wyloo, while confirming no default has occurred & that it continues negotiating with Wyloo (HAS)
Viridis released metallurgical test work from its Southern Complex, successfully testing the first step of a potential flowsheet (VMM)
Numerous companies shared drilling and exploration results including Delta, WA1, and Tolu
Delphi/Patronus increased their blocking stake in Alto to 18.4% (AME)
High Grade It
Oklo Inc. has agreed to deliver as much as 750MW of electricity from nuclear reactors it plans to build to two data centre companies (Bloomberg)
Wildcat Resources confirms ASIC interest but refutes media claims it has been raided (West)
MinRes shuttered a lithium mine as pressure builds on Ellison, while Santos rejected claims Kevin Gallagher could potentially replace him (Australian)
Gold prices extended losses for the fourth straight session, weighed down by a stronger dollar and elevated bond yields (Reuters)
Unhappy investors stripped $800m from Paladin’s value in the wake of a production guidance downgrade & Fission deal doubts (Australian)
Six more countries endorse the declaration to triple nuclear energy by 2050 at COP29 (WNA)
Premier Roger Cook to consider assistance for struggling lithium industry as MinRes mothballs Goldfields mine (The West)
Oil prices rebounded slightly on Wednesday on short-covering a day after they fell near a two-week low on OPEC's reduced demand forecast (Reuters)
A class action law firm has told more than 600k claimants they shouldn’t sign on to a compo plan set up by BHP and the Brazilian government over the fatal Samarco dam collapse (Australian)
US inflation rose to 2.6% in October, as the Fed debates whether to cut interest rates at its last meeting before Trump takes office (FT)
Orica reported a$525m profit for the full year, boosted by increased uptake of its premium products, blasting technology and digital solutions (CB)
Wheelin’ n Dealin’
Emmerson provided a market update on the takeover of its JV partner by Pan African, with management being advised that the transaction will not alter the JV approach (ERM)
Rattlin’ the Tin
Word on the Decline
A deal prediction that will surprise absolutely nobody… We think Perseus’ play for Predictive is just a matter of time
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In the Weeds
Podcast: Inside the MinRes investigation: how the secret tax deal came to light (Spotify, Apple) interview of Neil Chenoweth
Mike Alkin, Uranium Market Insights With Q&A (Youtube)
Mystery ASIC raids on Wildcat Resources (AFR’s Rear Window)
Mali’s junta escalates fight with mining groups over profit share (FT)
A Drug Gang Stole 3 Tons of Gold in a Scam So Perfect It’s Still Going (WSJ)
How to leverage AI in Mineral Exploration workflows (Equivest AS) one of the BHP Xplor alumni
Securing IRA-compliant nickel units to get tougher (Fastmarkets)
Today’s Top Tweet
So $MIN shuts down Bald Hill, which actually has a lower cost than Mt. Marion. The upper end of BH's cost range is at the lower end of Mt Marion LOL. What's going on? $ALB and Ganfeng don't agree? When is it time for Mt Marion and/or Wodgina to go into C&M? #lithium
— Energy Transition Investor (@usuallyYJLee)
9:33 AM • Nov 13, 2024
This is the really confusing thing to us as well. We think the most logical thing is MinRes must have asked but Ganfeng has declined. Either that or the mining services margin paid half by Ganfeng boosts the all-in equation for MinRes.
Devil’s in the Detail
Remember when Kin Mining wedged themselves in the middle of Genesis’ acquisition of Dacian back in 2022?
Well since then, Kin has renamed as Patronus and is repeating the playbook titled “How to have Zero Friends in the Mining Industry” by today revealing it, together with its major shareholder, Deutsche Balaton / DELPHI, has 18.4% of Alto Metals.
The scheme meeting for Brightstar’s merger with Alto was scheduled for Tuesday next week… And with 75% of the vote required, it’s fair to say the Germans have thrown a spanner in the works again. Better practice than Avada Kedavra
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