The Drill Down
Friday 9 October 2026
|
 |
ASX: NRL |
Record Intercepts at Tlamino
9 holes, 750m, including the widest and highest-grade intervals at the Barje deposit to date
36m @ 5.85g/t AuEq from 47m, including
14m @ 7.74g/t (BAR046) 17.5m @ 5.22g/t AuEq from 14.4m, including
8.2m @ 7.60g/t (BAR050) Q4 2026 Maiden JORC (2012) Mineral
Resource Estimate scheduled The results point to broad, high-grade continuity across the central zone, ground the 2021 estimate¹ models as low-grade. BAR047, BAR045 and BAR043 returned further intercepts of 4.87g/t, 4.16g/t and 2.39g/t AuEq over 18.3m, 10.2m and 24.6m. The rig is still on site, step-out drilling along strike from Barje, as part of a fully funded 9,000m+ program at Tlamino.
|
| |
|
Lead Insight
ASX Explorers Spent $1.05 billion on Exploration in the June 2026 Quarter
ASX explorers spent $1.05 billion on exploration in the June 2026 quarter, the first time above $1 billion since December 2023, while net investing outflows climbed to $1.61 billion, the highest since June 2023, according to BDO's Explorer Quarterly Cash Update. Financing inflows fell 10% to $2.85 billion for a second straight quarterly decline, yet sector cash held at a record $13.04 billion and average cash per explorer hit a new high of $17.48 million. Arafura Rare Earths led the quarter's raisers with $175.53 million in equity, ahead of Maritana Minerals at $120.04 million and Syrah Resources at $106.62 million.
|
Commodity Prices: 9 Oct 2026, 5:09pm AEST
| Gold (USD/toz) | $4,196 +1.52% |
| Silver (USD/toz) | $60 +1.94% |
| Platinum (USD/toz) | $1,680 +2.42% |
| Palladium (USD/toz) | $1,160 +3.21% |
| Copper (USD/t) | $14,776.32 +1.60% |
| Nickel (USD/t) | $15,524.50 -1.04% |
| Zinc (USD/t) | $3,759.00 +2.09% |
| Lead (USD/t) | $1,868.60 +0.45% |
| WTI Crude (USD/bbl) | $90.58 -0.99% |
|
|
Market Movers: Winners & Losers, Australian Markets
Top Gainers
PMM +72.2%: Pioneer Minerals Limited
Pioneer Minerals resumed trading after securing staged options over the San Francisco gold-copper-silver project in San Juan, Argentina. Historical drilling there by Turmalina Metals returned 109m @ 4.94 g/t Au, 109 g/t Ag and 1.13% Cu from 12m in SFDH-012, and 72.3m @ 3.47% Cu from 397.7m in SFDH-039. Full exercise over four years requires US$3.2 million in vendor payments and US$2.45 million in exploration spend. Pioneer also has firm commitments for A$1.8 million at $0.18 a share, subject to shareholder approval at its late-November AGM.
S2R +27.3%: S2 Resources Ltd.
S2 Resources' most recent update, on 25 August, flagged drilling from early October at its Warraweena project in NSW, testing the T37 gold target and the Lilyfield copper target. T37 follows up a 4m @ 1.1 g/t gold intercept, since re-assayed at 4m @ 0.75 g/t, from a single hole drilled by North Broken Hill in the 1980s. Lilyfield sits on EL9269, where S2 is earning an interest from private company Oxley Resources.
HMG +12.5%: Hamelin Gold Limited
Hamelin Gold's most recent update, on 14 September, reported completion of an expanded 35-hole, 4,000m Phase 2 RC program at its Day Dawn gold project, 10km northwest of Telfer in WA's Paterson Province. Assays from more than 4,000 samples are due in October 2026. Maiden diamond drilling was scheduled to start about four weeks after that update to test down-plunge extensions of the Aurora and Altus lodes.
Top Losers
MHK -13.0%: Metal Hawk Ltd.
Metal Hawk fell in a sell-the-news move a day after reporting 1m resplit PhotonAssay results from hole 26LSRC075 in the Numbat shear at its Leinster South project in WA. The hole returned 4m @ 12.5 g/t Au from 43m, including 2m @ 23.0 g/t, upgrading an earlier composite result of 8m @ 3.6 g/t. A 10-hole, 1,642m RC program at the Thylacine south zone is complete, with assays due in about six weeks and diamond drilling scheduled for November.
DEV -11.4%: DevEx Resources Ltd
DevEx's 6 October update reported first-pass RC drilling at Nabarlek North in the NT. RC13 returned 1.7m @ 1,116ppm eU3O8 from 168.8m and RC12 returned 2.3m @ 920ppm eU3O8 from 184m, both from downhole gamma readings with laboratory assays pending. Drilling at the Sandfire prospect returned no significant uranium, downgrading that target, while KP results and a new seismic survey remain pending.
BOE -9.9%: Boss Energy Limited
Boss Energy's 15 September market day presentation held FY27 Honeymoon guidance flat at 1.25 to 1.30 Mlbs U3O8 while EKT1, its first wide-spaced hybrid wellfield, is tested. The New Feasibility Study sets life-of-mine C1 and AISC at A$50/lb and A$79/lb. Boss's hub target of 2.5 Mlbs a year at A$65/lb AISC by the early 2030s is, in the company's own words, aspirational and not a production target.
|
| |
|
Do you want exclusive access to future capital raises and investment opportunities?
Join the Kamoa Capital Investor Register TODAY!
Investor Register
Registration is not an application for securities and does not guarantee participation in any offer. Any offer is made separately by the issuer or an appropriately authorised party.
|
| |
| |
|
Presented By
|
| |
|
| |
|
Sierra Nevada Gold
|
| |
|
ASX: SNX
|
| |
|
| |
|
Emerging Saudi Arabian Developer & Explorer
|
| |
|
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.
|
| |
|
Find Out More
|
| |
|
| |
|
In-Country Operating Subsidiary
|
| |
|
| |
|
|
| |
|
Today's Stories
|
|
MarketScreener
MMG Accuses EU Antitrust Regulators of Ignoring Evidence Backing Anglo American Deal
MMG said EU regulators selectively used two partial quotations from more than 200,000 documents while ignoring evidence that its $500 million bid for Anglo American's Brazilian nickel business would not divert ferronickel from Europe to China. The comments followed a day-long hearing before Commission officials including top merger official Guillaume Loriot, and MMG said Glencore and Trafigura had written to the Commission confident of continued supply. MMG signalled it may offer remedies in the coming weeks.
|
|
Miningmx
Congo Copperbelt Eyes $1bn Power Saving
Gridworks Development Partners and Trafigura are backing a $300m, 200km transmission line linking Kalumbila in Zambia with Kolwezi in the DRC, able to import up to 550MW into a mining region with a power deficit of more than 1GW. Trafigura's Congo head Herve Otschudi said industry studies suggest miners could save about $1bn a year by replacing diesel generation with imported electricity. The partners, including state fund FIS-RDC and EnPower, say concessions, licences and approvals are secured, but no start date was given.
|
|
Listcorp
Far East Gold Ltd Fourth Supplementary Target's Statement
In its 29 July statement, Far East Gold's Independent Board Committee urged shareholders to reject Xingye Gold's unsolicited takeover. It noted the offer and conditional offer prices sit below the A$0.385 midpoint of the independent expert's A$0.324 to A$0.444 valuation range. Subsidiary PT Alexis Perdana Mineral had received a signed Mutual Agreement Letter recording a US$45M (about A$64.59M) purchase price for the Wonogiri Project, which FEG said contradicts Xingye's claims the Wonogiri licence was lost. FEG cautioned there is no certainty any transaction will proceed.
|
|
Mining.com.au
Zimbabwe's Lithium Export Earnings Surge on Higher Spodumene Prices
Zimbabwe's lithium export sales reached US$2.16 billion in the nine months to 30 September, nearly four times last year's full-year total, on a 283% jump in spodumene concentrate prices, the Minerals Marketing Corporation of Zimbabwe said. Spodumene contributed US$1.8 billion, lithium sulphate US$190 million and petalite US$155 million, with lithium overtaking PGMs (US$1.73 billion) as the country's biggest mineral export after gold. Total non-gold mineral sales doubled to US$4.74 billion.
|
|
Mysteel
Lithium Likely to Remain Supported by Demand Beat, Supply Miss in Q4
Mysteel expects China's lithium carbonate output to rise just 1.1% month on month to 115,900 tonnes in October. Over the same period, LFP cathode production, at 603,200 tonnes in September, is forecast to reach 625,000 tonnes and approach 650,000 tonnes in December. Sampled inventories fell about 44% from 203,000 tonnes in early June to 113,600 tonnes at end-September, and Chile's September lithium carbonate exports dropped 21.6% to 18,900 tonnes. Zimbabwe's concentrate export ban from 1 January 2027 could affect about 160,000 tonnes of LCE a year if strictly enforced.
|
|
Mysteel
Post-Holiday Copper Price Rebounds in China With Trading Improving
Copper prices rebounded in China after the 1 to 7 October National Day holiday while fluctuating on the LME. Refined copper spot trading rose notably on 8 October as supply improved, premiums eased and downstream buyers restocked. Retail refined copper inventory rose post-holiday but remains low against prior years and is expected to trend lower in October on recovering consumption and concentrated smelter maintenance. The union at Antofagasta's striking Centinela mine expects the impact to feed through to output in about two weeks.
|
|
Mining.com.au
Jacaranda Nears ASX Debut With Drill-Ready Pipeline
Jacaranda Natural Resources' $8 million IPO at $0.20 a share closes today, ahead of a planned ASX listing on 22 October under the ticker JRL, eight months after the company was incorporated. Drilling at the Globe Gold Project in Botswana, where about 2,500m of trenching has been completed, is set to start this quarter. Trenching and maiden drilling are to follow at the 409km² White Cockatoo copper-gold project near Biloela in Queensland. The offer is not underwritten, and about $4.9 million is earmarked for exploration over two years against $1.9 million for corporate costs.
|
|
Kamoa Capital
Website | LinkedIn | Instagram | YouTube
|
|
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.
|
|
