• ASX IPO market was weak over the first half of 2024, as the pipeline for new mining and exploration investments looks skinny (MiningNews)

• Dryblower reckons the iron ore price correction is a bigger problem for Twiggy than the recent green hydrogen debacle (MiningNews)

• China’s refined copper exports surged to a record last month as weak demand in country prompted smelters to turn overseas (Bloomberg)

• S32 shares tumbled as much as 12.9%, the biggest intraday decline since 2020, following writedowns at Worsley & Cerro Matoso (Bloomberg)

• Indonesia launched an online system to track movements of nickel & tin from mines to domestic processing facilities to improve accountability & government revenue (Reuters)

• Regis CEO Jim Beyer said more work would be done to add further value to the McPhillamys project picture following the DFS release (BN)

• Whitehaven shares pulled back as sell-side analysts posted mixed responses to Q4 numbers (CB)

• South Korean officials say demand for Aussie thermal coal is set to fall as the country switches from dirtier coal plants to nuclear power (AFR)

• Amplats has cut about 3,700 jobs to reduce spending ahead of a planned demerger from its parent company (Reuters)

• Anglo is shrinking its trading operations as part of a restructuring unveiled as it fought off BHP (Mining.com)

• Resources financier, Taurus Funds Management, allegedly misled Regal about its performance in due diligence according to its former CFO (AFR)

• Woodside Energy agreed to purchase US LNG company Tellurian in a deal worth US$1.2b (The Australian) - the M&A call was a little spicy for those interested

• Ero Copper is earning a 60% interest in Furnas copper in the Carajás Mineral Province in Brazil from Vale Base Metals (ERO.TO)

• JPGA Partners pulled their takeover offer for Genex following approval by Genex shareholders of the groups scheme (GNX)

• Highfield Resources are in trading halt to clarify their LoI announcement (HFR)

• The Federal Court approved Alumina’s Scheme yesterday afternoon, with it becoming legally effective today (AWC)

• Energy Fuels scheme to takeover Base Resources is advancing, on schedule to complete in early October (BSE)

• Jervois agreed an extension on its covenant waiver & interest payments with the holder of its ICO bonds, until 20 August 24’ (JRV)

• Arafura obtained the remaining conditional approvals for US$775m in senior debt funding from export credit agencies & lenders (ARU)

We are fans of the deal creativity put forward by our man Tshepo in his recent Linkedin post that explores how an interested bidder might consider acquiring First Quantum given the uncertainty surrounding Cobre Panama:

And as Tshepo points out, Barrick has expressed interest in the past.

We have no evidence but we also think Rio’s rumoured interest in Teck earlier this month was a planted story (Sky News lol?) to perhaps test the water for any pushback of major M&A while having a different target in mind. FQM? Probably not but who knows…

• For those after a laugh, check out this classic Malaysian hit, in the dedication of our very own Lynas (Namewee Fxxk Lynas)

• One of the Money Miners pointed us in the direction of this presentation explaining coal quality by Whitehaven last year

• Nuclear wildcard reignites Australia's climate wars (Reuters op-ed)

• Understanding irrationality through behaviour economics - Dan Ariely on Inside the Rope (Spotify, Apple)

• Western miners push for higher metals prices to ward off Chinese rivals (Reuters op-ed)

• M&A arb fund Harvest Lane keeps a black list of boards to avoid (AFR)

• With no lithium recovery in sight, lithium miners are being forced to reevaluate output (Bloomberg)

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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.