The Drill Down
Friday 14 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
Reassessing Indonesia's Nickel Ore Supply-Demand Balance in 2026 After the RKAB Quota Turmoil
A rumoured 25 million wet tonne supplementary RKAB quota for one large miner drove SHFE nickel from above Yuan 133,000/t to around Yuan 127,000/t, before Indonesia's ESDM confirmed the application had not been approved. Mysteel puts 2026 ore demand at about 312 million wet tonnes against base RKAB of 260 to 270 million plus roughly 20 million tonnes of Philippine imports. Even with supplementary quotas released, supply of 305 to 320 million tonnes sits under the 330 million needed for normal operating redundancy.
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Our Take
Falling feed grades mean ore consumption rises even as nickel metal output falls. Jakarta's quota pen now sets the marginal tonne.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,333
-0.43%
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Silver
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$64
-0.19%
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Platinum
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$1,723
-0.36%
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Palladium
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$1,310
+0.18%
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Base Metals & Commodities
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Copper USD/t
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$14664.72
-0.19%
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Nickel USD/t
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$16725.50
-0.71%
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Zinc USD/t
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$3729.63
+0.33%
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Lead USD/t
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$1878.20
-0.09%
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WTI Crude USD/bbl
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$81.63
+0.47%
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Prices updated as of 14 Aug 2026, 4:20 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Dateline Resources Limited
A bounce after yesterday's 31.2% fall on the Colosseum injunction, with Managing Director Stephen Baghdadi buying 1,000,000 shares on-market on 13 August for $90,648, lifting his holding to 412,753,379. The US District Court order halting operations at Colosseum stands until the injunction is lifted or final judgment is delivered, with a status hearing set for October.
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Right Resources Limited
Maiden sighter flotation testwork at the Blue Tungsten Prospect, 22km north of Tumbarumba in NSW, produced a rougher concentrate grading 27.0% WO3 at 87.3% recovery into 1.6% of feed mass, direct from whole ore at the coarser grind. All four tests returned recoveries between 85.2% and 87.3%. It follows heavy liquid separation results of 66.5% WO3 at 81.6% recovery on 5 August, all from a single composite surface sample.
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Litchfield Minerals Ltd.
Still running on Monday's Silver Valley update, where five new rock chips from historical workings in the Northern Territory returned up to 470g/t silver, 19.2% copper and 23.2% lead, alongside 342g/t silver with 36.8% lead. Three IP lines totalling 5.1km showed elevated chargeability west of the known workings, prompting a redesign of the remaining survey. Litchfield will redeploy field teams from Harts Range once MT and gravity work finishes.
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King River Resources Limited
King River confirmed today that 54,000,000 unlisted performance rights issued to employees have vested, each convertible into one ordinary share at the holder's election. The KRRPR3 tranche required a 20-day VWAP of 4c plus 3,000m of drilling within twelve months, and KRRPR4 a 20-day VWAP of 7.5c. The company answered an ASX price query on 10 August.
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Tivan Limited
Retreating from Wednesday's confirmation that Japan Australia Fluorite Associates received a further $3 million tranche under the $7.4 million International Partnerships in Critical Minerals grant for the Speewah Fluorite Project in Western Australia, taking total funding received to $6.4 million. The money funds the DFS, scheduled to complete later this year under an incorporated joint venture with Sumitomo Corporation and JOGMEC.
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Asara Resources Limited
Falling despite Cranport Pty Ltd and the Cranport Resources Fund lodging an initial substantial holder notice today, taking 104,321,707 shares or 5.00% as at 13 August. Cranport alone paid $3,071,320 for 24,279,630 shares between 10 June and 13 August, with associated Foster Stockbroking and Mountain High entities accumulating from May. Asara holds the Kada gold project in Guinea.
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Market data as of 14 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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Mining.com
Coal Mine Plans Grow Even as New Capacity Plunges
Proposed coal mine capacity rose 11% last year while commissioning of new capacity fell almost 40%, according to Global Energy Monitor. India drove the growth with its pipeline doubling, targeting 1.15 billion tonnes in 2025-26. China's additions fell 44% and Australia's 96%, with about 70% of proposed projects still pre-permit or under construction.
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Our Take
Wind and solar passed coal in the global power mix for the first time last year. India is building the pipeline everyone else is walking away from.
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Kitco
UBS Sees Gold Price Challenging $5,000/oz in H1 2027
UBS expects gold toward US$5,000/oz in the first half of 2027, on moderating inflation allowing the Fed to resume easing, a softer dollar and sustained sovereign buying. Central banks bought 289 tonnes in the second quarter, with UBS projecting 750 to 1,000 tonnes across 2026. It frames weakness toward US$4,000 as a chance to build strategic exposure.
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Our Take
UBS cut its 2026 target from $5,900 to $5,500 back in May. The $5,000 call has moved a year to the right rather than up.
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Mining.com
Democrats Query Trump Jr.-Backed Critical Minerals Company in Blueprint on Probes
Jared Huffman and Robert Garcia demanded documents from Vulcan Elements CEO John Maslin, including the names of 1789 Capital contacts during the process that produced a US$620 million Pentagon conditional loan. Bloomberg reported in March that the fund counts Donald Trump Jr. as a partner. Vulcan says it did not solicit investors to facilitate the loan, which followed a year-long multi-agency review.
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Our Take
No evidence produced and no subpoena power until the midterms. The letter is a template for what happens if the House turns over.
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Mysteel
Reading Lithium Price Signals From the Ore Side
Chinese lithium ore port inventories hit 258,000 tonnes on 6 August, up 18,000 week on week, with trader spot stocks at 124,000 tonnes. The 30-day rolling feedstock cost sat at Yuan 147,028/t LCE against a single-day Yuan 144,800, so high-priced ore is still working through converters. Processing fees of Yuan 17,750/t remain near historic lows.
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Our Take
Converters hold 34 days of cover and have stopped chasing spot. Sustained port drawdowns are the confirmation signal that has not arrived.
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The Australian Mining Review
MCA: CGT Changes Could Hinder Greenfields Development
The Minerals Council says replacing the 50% CGT discount with cost base indexation for shares held over 12 months will cut junior explorers' ability to raise capital. Juniors rarely pay dividends, so a capital gain on discovery is the only investor return. Their share of new western world discoveries rose from 10% in 1980 to 77% in 2023, and the Junior Minerals Exploration Incentive expired in June 2025.
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Our Take
One exploration site in a thousand becomes a mine. Removing the discount reprices that odds bet for the retail money that funds it.
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Miami Herald
American Investors Poised to Gain Stake in Cuban Mines Confiscated Six Decades Ago
Two rival American bids are competing for 55% of Sherritt, whose Moa nickel-cobalt operation in Holguín is a 50-50 joint venture with Cuba's state-owned General Nickel Company. Gillon Capital, tied to Ray Washburne, signed a non-binding agreement in May. A consortium of Kyma Capital, Trifon Natsis, Glencore and an unnamed American investor disclosed a rival cash offer on 10 August, submitted in late June.
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Our Take
Citigroup holds the third-largest certified claim over these mines, valued at $88 million. Whoever wins has to settle it before a tonne moves.
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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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