The Drill Down
Tuesday 11 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
Austral to Acquire Hammer Metals for $80.7 Million
Hammer shareholders receive 1.2903 Austral shares plus SpinCo scrip holding the demerged WA gold assets, valuing Hammer at 8.7c a share, a 29.4% premium to the Larvotto proposal Larvotto walked from yesterday. Hammer holders take about 31.1% of the combined Queensland copper producer, with implementation targeted for November.
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Our Take
Larvotto walked rather than match, and Austral gets Mt Isa scale against its Mt Kelly oxide production. Consolidation is where the copper premium is being paid.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,375
-0.34%
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Silver
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$65
-1.57%
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Platinum
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$1,744
-0.52%
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Palladium
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$1,371
-0.54%
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Base Metals & Commodities
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Copper USD/t
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$14756.28
-0.16%
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Nickel USD/t
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$16905.50
-0.18%
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Zinc USD/t
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$3726.55
+0.49%
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Lead USD/t
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$1897.80
+0.43%
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WTI Crude USD/bbl
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$82.45
+0.39%
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Prices updated as of 11 Aug 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Accent Resources NL
Trading was paused and then halted at 12.33pm pending the company's response to ASX in relation to recent trading activity in its securities.
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Lake Resources NL
No specific catalyst identified, on above average volume. The Kachi lithium brine project in Catamarca entered the EIA public consultation stage on 3 August, with approval targeted this quarter.
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Lachlan Star Limited
No specific catalyst identified, on above average volume. A 4,000m follow-up RC program began on 1 July at New Waverley in the Norseman Goldfield, after maiden diamond drilling returned 6.15m at 8.6g/t gold. Cash stood at A$6.523 million at quarter end.
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OZZ Resources Limited
Shares resumed trading today after more than two years suspended, on re-compliance with Chapters 1 and 2 of the Listing Rules. The recapitalisation funded the acquisition of Sulphide Minerals and the Bedaburra nickel-copper-cobalt project near Meekatharra, with the public offer priced at 4c.
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Exultant Mining Limited
No specific catalyst identified, on above average volume. The company holds the Peak View copper-zinc-silver and Black Hammer gold-copper projects in New South Wales, plus Deep Dykes in Western Australia.
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Citigold Corporation Limited
Citigold will issue 450 million shares at 1c to DEP Nominees for A$4.5 million, with A$2.0 million applied to settle DEP's secured loan facility in full. The subscription funds have not been received and no shares have been issued.
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Market data as of 11 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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Industry Queensland
Report Flags Issues Driving Away Mining Investment
An Institute of Public Affairs report puts forgone private business investment in the resources sector at $688 billion between 2015 and 2025, or about $4,900 a household each year. It cites energy costs, red tape, industrial relations and net zero policy among eleven drivers.
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Our Take
A counterfactual from a think tank with a stated position, so read the number with that in mind. The approvals complaint underneath it is real.
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North American Mining
DOE Launches PROSPECT Program to Build Critical Minerals Workforce
The US Department of Energy will put $100 million into the nation's 14 mining schools, aiming to double mining and minerals graduates within two years. DOE estimates the United States needs 6,000 new mining engineers over the next decade.
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Our Take
Capital has been the easy part of the reshoring push. Fourteen schools and a four-year lead time is the harder constraint.
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Mining.com.au
TechMet Fires Up US Critical Minerals Push With Washington-Backed Platform
TechMet has launched TechMet USA, consolidating EnergySource Minerals, US Vanadium, Momentum Technologies and Xerion Advanced Battery under a Washington-based platform backed by the US Development Finance Corporation. TechMet has put more than US$400 million into the four and is the largest shareholder in each.
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Our Take
A domicile change dressed as a strategy launch, and it works because DFC capital follows the flag. Expect more portfolios to redomicile.
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Mysteel
A Glance of China Copper Market
Chinese copper prices rose week on week over 3 to 7 August. Weak US labour data held the dollar index down, and the DRC concentrate export ban fuelled raw material supply concerns. Mysteel also notes US-Iran talks brokered by Oman could produce a framework for transit through the Strait of Hormuz.
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Our Take
A Hormuz framework is the first named explanation for the energy moves behind copper. Crude has since run to $82, so the market is not buying it yet.
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TA NEA
Europe's Race for Lithium: Finland Leads the Charge
The Syväjärvi mine in western Finland will run the full chain from ore through to lithium hydroxide, with production starting in coming months and full capacity in 2028. The deposits support around 15,000 tonnes a year for at least 18 years, roughly 10% of current European demand.
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Our Take
Ten percent of European demand from one mine, with the refinery attached. That is the integration WA has spent a decade failing to fund.
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Lowy Institute
Amid Global Copper Supply Chain Upheaval, Security Demands Focus
Brendan Pearson argues China's smelting build-out has driven treatment charges negative and pushed western utilisation below 70% against 85% in China. Chinese smelters now buy nearly 70% of traded concentrate, up from 43% a decade ago, and could reach 80% within five years.
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Our Take
Owning half the world's copper resources means nothing without a second buyer. The rare earths playbook is running again at ten times the scale.
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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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