Weak Manufacturing Data See Metals Fall

Peninsula close in on production, Ora Banda getting to work at Sand King

The Pre-Start

  • Strike Energy said it has made two gas discoveries in the latest drilling at Erregulla Deep-1 with aggregate net gas pay of 28m (STX)

  • Ora Banda provided a Davyhurst update, with infill results from Riverina while mining operations have commenced at Sand King (OBM)

  • Firefly released drilling results highlighting the grade continuity of Ming mineralisation (FFM)

  • Peninsula Energy announced that Lance construction is progressing toward a restart in late Q4 2024 (PEN)

  • Tungsten producer Group 6 Metals appointed MA Moelis to conduct a strategic review, with a $4m bridge facility secured from its senior lenders to fund the process (G6M)

  • Aussie Super increased its stake in Bluescope Steel to 6.1% (BSL)

  • Perennial Value picked up more Siren Gold, now holding 7.7% (SNG)

  • Great Boulder shared further RC results from Mulga Bill, with an update MRE due this half year (GBR)

  • American West provided assays from further drilling at Cyclone, intercepting copper-silver mineralisation (AW1)

  • Chalice released a new gold-copper exploration strategy for West Yilgarn targets (CHN)

  • Genesis increased their FY25 guidance to 190-210koz at AISC A$2,200 - 2,400/oz on the back of earlier than planned Laverton mill re-start (GMD)

  • Hastings has entered a trading halt pending the release of a maiden niobium resource (HAS)

  • The Office of Work Health & Safety has commenced 2 charges against Mastermyne (Metarock subsidiary) over a 2021 incident (MYE)

  • A flurry of investor presentations have made their way to the platform with various conferences happening today, including Bellevue, Develop, Ordell, Chalice, Rox, Ora Banda, Solstice, Arrow, AusGold

  • Nickel Industries says long lead items for its ENC project will begin arriving in Sep and engineering has begun on its slurry pipeline and in-pit tailings (NIC)

NIC’s Green Precinct plans at IMIP

High Grade It

  • Warren Mundine reckons Labor’s decision to stop Regis’ NSW gold mine “stinks like a bad smell” (Daily Telegraph)

  • Argentina official says lithium, copper to drive metal exports to $10b by 2027 (Reuters)

  • Chinese lithium kingpin and Greenbushes part-owner Tianqi goes deep in the red with a $1.1b half-year loss (West)

  • US and Peru sign memorandum of understanding on critical minerals to help cut US dependence on China (MiningNews)

  • Inventories of key raw materials are piling up in China, evidence that economic activity remains too feeble to clear a surplus (Bloomberg)

  • Australia will have to import LNG, leading to likely cost increases and ‘hoping & praying’ to get through next winter, industry execs warn (Australian)

  • Global equities began September on the back foot, after four months of gains, as China’s efforts to support its ailing economy showed no signs of taking hold (Bloomberg)

  • Company profits are sinking despite inflation remaining high, Australian Bureau of Statistics data shows (West)

  • Nathan Tinkler and Whitehaven Coal are due to go another round of court fighting (Australian)

  • Sibanye Stillwater expects to post a first-half loss, as the depressed outlook for palladium prices triggered another impairment on its US mines (Bloomberg)

  • Radical changes to the JORC code, which governs how mineral deposits can be reported, wouldn’t have protected gold miner Regis (AFR)

  • Harmony Gold said its profit in the last fiscal year likely rose 78% after it increased output (Bloomberg) The stock retreated 4%

MMTS

Wheelin’ n Dealin’

  • The full Dynamic board has now accepted the AFS takeover offer, with AFS now holding 81.1% (DDB)

  • E25 & Nissan Chemical have entered into a non-binding MoU for a Japanese High-Purity-Manganese-Sulphate-Monohydrate facility (E25)

  • Leonoil now have voting power over 27.4% of Sierra Rutile (SRX)

Rattlin’ the Tin

  • Graphite developer, Black Rock Mining is in a trading halt pending an

    announcement of a strategic investment into the company (BKT)

  • Magnetite Mines has launched a renounceable rights issue to raise up to $4.1m (MGT)

Word on the Decline

  • The Black Rock Mining trading halt… if we were betting people we’d reckon it’s POSCO firming up their commitment for up to 19.99% of BKT

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In the Weeds

  • M Resources owner Matt Latimore – the last of Australia’s big coal barons? (Australian)

  • Clean energy’s next trillion-dollar business: Grid-scale batteries are taking off at last (Economist)

Battery Prices Chart

Stationary storage vs EV battery prices

  • Tribeca’s David Aylward on how making small decisions has helped him avoid big mistakes — and his growing exposure to gold (CB)

  • The ABS released Jun’ 24 quarterly stats on Aussie mineral exploration, here’s AMEC’s summary

  • White House Races to Lend Billions in Climate Funds Before Election (WSJ)

  • WA a case study in Australia’s carbon challenges (AFR)

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