The Drill Down
Monday 10 August 2026
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Developing High-Grade Gold & Copper in a Tier-One Belt
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670Koz
Au Eq Resource
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700km²
Serbian Landholding
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7,000m
Drilling Underway
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MinRex Resources is advancing a high-grade gold, silver and copper portfolio across 700km² of Serbian landholding in the West Tethyan Belt, anchored by a 670Koz @ 2.9g/t Au Eq resource at its advanced Tlamino gold-silver project.
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Lead Insight
Regal-Backed WIA Gold Raising $100m as Final Study Lands
The Africa-focused developer has sent out Argonaut Securities to raise about $100 million via institutional placement, after publishing a definitive feasibility study on flagship project Kokoseb and lining up US$360 million ($509.6 million) in senior debt. WIA hit up fund managers for $92 million just three months ago.
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Our Take
Two equity raises inside a quarter and half a billion in senior debt behind them. Kokoseb is being funded to construction.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,341
-0.01%
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Silver
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$64
+0.53%
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Platinum
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$1,764
+1.60%
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Palladium
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$1,374
-0.39%
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Base Metals & Commodities
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Copper USD/t
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$14775.11
+0.80%
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Nickel USD/t
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$16935.50
+1.47%
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Zinc USD/t
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$3696.25
+0.07%
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Lead USD/t
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$1891.80
+0.85%
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WTI Crude USD/bbl
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$78.21
+0.04%
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Prices updated as of 10 Aug 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Evion Group NL
Evion has been accepted into the Cornerstone Consortium, the only government-managed Other Transaction Agreement vehicle inside the US Department of Defense, giving it eligibility to respond to solicitations across 18 industrial base sectors. The US imports 100% of its fluorspar requirements, the commodity behind Evion's Carp project in Nevada.
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PhosCo Ltd
The US State Department has published a funding notice offering up to US$1.54 million to a third party tasked with mobilising American capital into PhosCo's Gasaat phosphate project in Tunisia. The stated program goal is a 30 to 40% US equity stake. PhosCo is not an applicant and receives no funds directly.
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Sunrise Energy Metals Limited
The US Office of Strategic Capital has committed a US$400 million conditional loan for scandium at Syerston in New South Wales, with a right of first offer over output. No primary scandium mine supply exists globally.
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Kuniko Ltd
The stock has traded back to the 2c placement price struck on 4 August, which raised A$1.30 million including A$182,500 from board and management. Phase 2 drilling of about 1,350m is underway at Silica Hill, Commonwealth Main Shaft and Commonwealth South.
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Solis Minerals Ltd
No specific catalyst identified. Diamond drilling at Mandacaru in Brazil's Araçuaí Lithium Valley began in mid-July, a 10-hole 2,000m program testing an 800m pegmatite corridor. Results are still pending.
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RTG Mining Inc.
No specific catalyst identified. The stock is handing back Friday's 11.4% gain, which followed the June quarterly on the Mabilo copper-gold project in the Philippines, where a final investment decision is targeted this calendar year.
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Market data as of 10 August 2026, 4:10 PM AEST
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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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Northern Minerals
Treasurer Amends July 2026 Interim Directions
The Federal Treasurer has amended the July interim directions covering shares held by Real International Resources and Qogir Trading in breach of the May disposal orders. Neither can sell without written confirmation the buyer is not an associate, and Northern Minerals must refuse to register any transfer that skips the step. Holding locks have been applied.
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Our Take
Canberra has shut the sell-to-a-friend loophole. Voting rights were the first lever, transfer approval is the second.
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Australian Mining
NSW Eyes Critical Minerals Processing Boom With $4 Million Investment
The Minns government will put $4 million into research grants under the NSW Critical Minerals Processing and Advanced Materials Innovation Program, open to universities and research organisations. Phase 1 applications close 18 September.
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Our Take
Four million to universities against a $250 million royalty deferral scheme. NSW is funding the science and letting capital build the plant.
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MiningFeeds
BHP Secures Initial US$1.3 Billion for Expansion of World's Largest Copper Mine
Chile's Antofagasta environmental commission has cleared the first construction package at Escondida, covering sulphide leaching modifications and electrical upgrades, unlocking US$1.3 billion of a program that could run to US$14.7 billion across BHP's Chilean assets. A replacement concentrator for Los Colorados awaits separate approval.
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Our Take
Approval secured and construction starting is rare in Chilean permitting. BHP is underwriting the world's largest copper mine well into the 2040s.
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ABC News
Mount Isa Miners Memorial to Be Jointly Funded, Honouring 151 Lives Lost
A $4.7 million memorial will be built on Frank Aston Hill overlooking Mount Isa Mines, jointly funded by the Queensland government, Glencore and Mount Isa City Council. It forms part of nearly $6 million committed through the Mount Isa Transition Fund, with completion expected in late 2027.
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Our Take
Three decades of advocacy answered at the point of transition. Recognition and economic remediation are arriving in the same funding package.
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Mysteel
DRC Copper Concentrate Export Ban to Worsen Raw Material Tightness
Mysteel reads the ban as a tightening of existing controls, with real impact hinging on the scope of exemptions. LME copper touched $14,369.5 a tonne, the highest since 29 January, before easing intraday. Spot clean concentrate treatment charges sat at minus $159.67 a dry metric tonne on 31 July.
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Our Take
Treatment charges at minus $160 say the concentrate squeeze was already acute. The ban tightens a market with no slack left in it.
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Kamoa Capital
kamoacap.com
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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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