The Drill Down
Thursday 8 October 2026
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Presented By
ASX: TM1
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Building a world leading PGM asset - MST Access $1.05 valuation
Terra Metals' Dante Project hosts large-scale Bushveld-style copper-PGE sulfide reefs just 15km from BHP's $1.7Bn Nebo-Babel development. With world-class polymetallic mineralisation from surface and strong metallurgical outcomes, Dante is rapidly emerging as Australia's next major PGM system.
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Lead Insight
Anglo Boss Says Global Dealmaking in "New Waters"
Anglo American CEO Duncan Wanblad told the Joburg Indaba that geopolitical tension, market volatility and critical minerals nationalism have put global mining dealmaking "in new waters". Anglo still expects approvals for its $54 billion all-share merger with Teck Resources by March 2027, with China yet to sign off amid talks on copper concentrate supply commitments, according to Reuters. Its proposed $500 million sale of Brazilian nickel assets to MMG is nearing two years in review after the European Commission issued a statement of objections.
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Commodity Prices: 8 Oct 2026, 8:03am AEST
| Gold (USD/toz) | $4,111 -1.28% |
| Silver (USD/toz) | $60 -2.56% |
| Platinum (USD/toz) | $1,634 -4.44% |
| Palladium (USD/toz) | $1,116 -4.41% |
| Copper (USD/t) | $14,730.02 -0.31% |
| Nickel (USD/t) | $15,687.50 +0.29% |
| Zinc (USD/t) | $3,734.84 -0.33% |
| Lead (USD/t) | $1,883.80 +1.22% |
| WTI Crude (USD/bbl) | $88.99 +0.80% |
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Market Movers: Winners & Losers, Canadian Markets
Top Gainers
RDU +51.7%: Radius Gold Inc.
Radius Gold received authorisation from Arequipa's regional energy and mines authority (GREM) to begin exploration, including drilling, on the Ferruginosa I-400 concession, the main target at its Tierra Roja copper project in southern Peru. The approval ends a permitting delay tied to provisional surface rights, and the company is arranging to start its first drill program as soon as possible.
PRCG +15.4%: Precore Gold Corp.
Precore Gold's most recent release, on 16 September, reported completion of a 128.13 km drone magnetic survey over 579 hectares at its flagship Arikepay gold project in southern Peru, designed to rank targets for its inaugural drill campaign. The company closed an oversubscribed C$6 million private placement on 3 September.
RUA +9.0%: Rua Gold Inc.
Rua Gold reported further drill results from its Auld Creek gold-antimony project near Reefton, New Zealand on 5 October, including 6.6 m at 10.5 g/t Au and 6.7% Sb in hole ACDDH127. Four rigs are drilling ahead of an updated resource estimate targeted for Q4 2026, with a Fast-Track Approvals application due this month and a Pre-Feasibility Study in December.
Top Losers
NRDX -16.3%: NordX Metals Corp.
NordX Metals' most recent drill news, on 30 September, reported 2.35 m at 0.62% U3O8 from 9.4 m downhole, including 1.1 m at 1.10% U3O8, in the first diamond hole at its Riutta uranium project in eastern Finland. Assays have been received for only that one hole, with the program ongoing.
MANU -14.6%: Manhattan Uranium Discovery Corp.
Manhattan Uranium's most recent technical update, on 10 September, compiled 499 historical drill holes at its Lisbon Valley project in Utah, with a top intercept of 3.70% eU3O8 over 5.2 ft in hole N-1. The grades are equivalent values from historical downhole gamma logging rather than chemical assays, and the company has ranked 36 historical intercepts for follow-up.
EMNT -12.8%: Eminent Gold Corp.
Eminent Gold's most recent results, on 17 September, included 57.9 m at 0.3 g/t Au in RC hole HSR2601 at the Otis target of its Hot Springs Range project in Nevada, ending in 3.0 m at 2.1 g/t Au at the rig's depth limit. The company plans to re-enter the hole with core, and its oxide classification is based on visual identification of iron oxides in RC chips.
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Presented By
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Sierra Nevada Gold
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ASX: SNX
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Emerging Saudi Arabian Developer & Explorer
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Sierra Nevada Gold is advancing As Safra, a large copper-gold system extending over more than 5.5km of strike in the Arabian Shield. Initial drilling has confirmed broad, continuous zones of mineralisation including high-grade intervals, with a major follow-up program now in preparation.
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Find Out More
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In-Country Operating Subsidiary
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Today's Stories
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Mining.com.au
Indonesia Plans to Impose a Moratorium on New Plants Making Partly Processed Nickel
Indonesia is considering a moratorium on new nickel processing plants that make partly processed metals, said Bahlil Lahadalia, the senior minister overseeing mining. He blamed oversupply of semi-finished Indonesian nickel for falling prices and said the government will keep controlling nickel mining quotas to support the market. Indonesia is the world's largest exporter of nickel products, mostly nickel pig iron and ferronickel.
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MarketScreener
Gold Slides to Two-Month Low as Robust Dollar, Yields Add Pressure
Spot gold fell 1.2% to US$4,113.89 an ounce on Wednesday, its lowest since 5 August, as the US dollar index rose 0.4% and 10-year Treasury yields held at an over two-decade high. Markets are pricing an 85% chance of a Federal Reserve rate increase in December, according to CME's FedWatch tool. Silver fell 3% to US$59.86, platinum 3.9% to US$1,635.04 and palladium 4% to US$1,125.70.
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Newsfile
Sigma Lithium Resumes Mining-Industrial Operations; Wins Benchmark Legal Decision; 2027 Guidance of 330,000t
Sigma Lithium has resumed operations at Grota do Cirilo in Brazil after a Federal Court of Appeals judge upheld its environmental licences, overturning an 8 September emergency suspension issued by a local federal judge in Teofilo Otoni. The company says existing Mine 1 and plant capacity is sufficient to reach annualised production of 330,000 tonnes of lithium oxide concentrate by year-end 2027.
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Mining Weekly
China's Central Bank Adds to Gold Reserves for Twenty-Third Consecutive Month
The People's Bank of China lifted its gold holdings to 77.47 million fine troy ounces at the end of September from 76.73 million a month earlier, extending its buying streak to 23 consecutive months. The value of the reserves fell to US$323.52 billion from US$350.08 billion as gold dropped more than 6% over the month.
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Devdiscourse
ROI-Tin Rides the AI Investment Wave to a New Price Dimension: Andy Home
Tin prices have more than doubled over three years, with LME three-month tin above US$50,000 a tonne since June against a pre-2026 record of US$51,000 set in March 2022. Solder now accounts for more than half of global tin demand, and Shanghai Metals Market estimates each gigawatt of AI data centre capacity needs 1,200 to 1,500 tonnes of tin. Combined LME and Shanghai Futures Exchange stocks have fallen from a February peak of 22,600 tonnes to 13,100 tonnes.
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Titan Mining
Titan Mining and U.S. Army Agree to Commercial Framework for Strategic U.S. Graphite Processing Facility
Titan Mining subsidiary Empire State Mines has signed a term sheet with the US Army for an Enhanced Use Lease to build a graphite processing facility on about 97 acres at Anniston Army Depot in Alabama. The framework carries an initial 50-year term with two 25-year renewal options and gives the Army a right of first offer on up to 10% of annual output. The definitive lease remains subject to conditions including project financing, Titan board approval and Army and Congressional processes.
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Mining.com.au
Perseus Says Gold M&A Activity High but Deals Hard to Close Over Price Uncertainty
Perseus Mining CEO Craig Jones said gold M&A activity is high but few deals are completing, as companies hold differing gold price assumptions. Recent breakdowns include Zijin Gold's collapsed US$4 billion acquisition of Allied Gold and Northern Star's rejection of Gold Fields' $38.7 billion proposal. Perseus remains focused on organic growth across its Ghana and Ivory Coast mines and its Tanzanian development.
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Mining Weekly
Australian Uranium Miners Rally After Google's Power Deal With Constellation Energy
Australian uranium stocks had their best session in weeks on Wednesday after Google signed a 20-year agreement for 890 MW from multiple Constellation Energy nuclear plants, which will be upgraded to lift output from existing reactors. Boss Energy and Deep Yellow each rose 4.6% and Paladin Energy gained 2.5%.
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The Northern Miner
Canada's Miners Must Seize Political Opening: Gratton
Outgoing Mining Association of Canada president and CEO Pierre Gratton said on Tuesday the industry has won the political support needed to reverse years of decline. Companies now need to turn that backing into new mines, he said.
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Miningmx
Genesis Considers Mine Sales After Vault Takeover
Genesis Minerals is weighing outright mine sales or a separately listed spin-off of some Australian assets once its takeover of Vault Minerals completes, executive chair Raleigh Finlayson said, citing a strategic review of the enlarged portfolio. The combined group, valued at about A$14.5 billion with five major mines, would produce about 700,000 ounces a year, with completion expected by late November.
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Kamoa Capital
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This newsletter is for general information, education & entertainment. Kamoa Capital is not licensed and does not know your circumstances. Nothing here is financial, legal or tax advice. Seek professional advice and read any PDS before acting. We aim for accuracy but make no guarantees and accept no liability. Views are opinions only and may include forward-looking statements that may not occur.
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