The Drill Down
Friday 16 October 2026
|
Presented By
ASX: TM1
|
| |
|
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.
Download Full Report
|
|
| |
| |
|
Lead Insight
Gold Fields CEO Plays Down Prospect of Raising Its Offer for Northern Star
Gold Fields CEO Mike Fraser played down speculation of a higher offer, saying Northern Star first needs to acknowledge a potential path to a tie-up after it rebuffed last month's A$38.7 billion share and cash proposal. He would walk away if there is no alignment on value creation, and argues a combined company would trade on a much higher multiple than Gold Fields' current 3.5 to 4 times EBITDA, against Northern Star's 7 to 8 times. Northern Star shares are up 10% since the approach became public, while Gold Fields has fallen nearly 17%.
|
| |
Commodity Prices: 16 Oct 2026, 8:03am AEST
| Gold (USD/toz) | $4,171 +1.60% |
| Silver (USD/toz) | $57 +3.23% |
| Platinum (USD/toz) | $1,630 +1.82% |
| Palladium (USD/toz) | $1,130 +3.51% |
| Copper (USD/t) | $14,587.05 -0.80% |
| Nickel (USD/t) | $15,217.50 -1.87% |
| Zinc (USD/t) | $3,647.19 -1.19% |
| Lead (USD/t) | $1,876.10 -0.87% |
| WTI Crude (USD/bbl) | $97.54 -0.44% |
|
|
Market Movers: Winners & Losers, Canadian Markets
Top Gainers
BRW +50.0%: Brunswick Exploration Inc.
Hole AN-26-17 at the Anatacau Main project in Quebec's James Bay region intersected 302 metres of spodumene-bearing pegmatite, extending the Anais dyke to 500 metres vertical depth. Spodumene averages about 30% on visual estimates, with assays pending, and the interval sits about 100 metres below AN-26-15, which returned 1.31% Li2O over 202 metres. The dyke remains open in all directions, and the hole ended in mineralised pegmatite at the rig's depth limit.
BEA +36.4%: Belmont Resources Inc.
Belmont announced board changes on 15 October, with chairman George Sookochoff resigning and staying on as an adviser. HMS Bergbau AG chief executive Dennis Schwindt becomes chairman, and HMS Bergbau is Belmont's majority shareholder. Dr Michael Seeger, a mining engineer and mining finance specialist who founded MX Mining Capital Partners, joins as an independent director.
LAF +22.2%: Lithium Africa Corp.
Lithium Africa reported 8.0 metres at 1.70% Li2O from 21.0 metres in hole NB1DD26-004, including 4.0 metres at 2.59% Li2O, at the Norrabees I prospect of its Springbok project in South Africa's Northern Cape. Individual samples ran to 4.11% Li2O, and intervals are downhole lengths not corrected for true width. Three rigs continue drilling, with assays pending on further Norrabees I holes.
Top Losers
HRNY -29.1%: Bighorn Metals Corp.
Bighorn's most recent disclosure, on 5 October, set out a proposed fall 2026 program at the Loljuh porphyry copper-gold project, about 40 kilometres south of Smithers in British Columbia. The work covers trenching at seven priority anomalies, infill soil sampling at five target areas and resampling of selected rock sample sites. The fall came on 474,902 shares, about 2.4 times the 194,170 average.
NIOX -20.8%: NiobiumX Mining Inc.
NiobiumX's most recent disclosure, on 17 September, appointed Erik Sehn, P.Geo., to the board. Sehn is vice president of exploration at F4 Uranium and previously contributed to the JR and Tetra zones at Patterson Lake North with F3 Uranium, and will advise the board on the exploration sequence for the Shipshaw property in Quebec, which has no mineral resource. The fall came on 282,043 shares, about 4.8 times the 59,312 average.
LXM -18.6%: Lux Metals Corp.
Lux's 15 October update followed the 14 October first-hole result at Zone 32 on its La Grande gold project in Quebec's James Bay region, LG26-241, which returned 17.57 g/t Au over 19.50 metres. The update flagged a potential financing of up to about $7 million, with no board approval, terms or timing set, and a first resource estimate targeted for the end of 2027. The fall came a day after the result, on 836,746 shares against a 127,450 average.
|
| |
|
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
|
|
AFR
Matt Latimore Seeks $25m to Float Battery Materials Play
Matt Latimore's M Battery Materials (MBM) has filed a prospectus to raise $15 million to $25 million in an ASX IPO. It will start with graphite-based battery anode material and plans to develop vanadium for grid-scale batteries. Directors plan to invest $6 million of their own money, and LE Minerals has agreed to invest $2 million to $5 million.
|
|
Mining.com
Tech Giants Come Knocking for a Piece of Anglo American as Copper Scarcity Bites, Wanblad Tells FT
Anglo American CEO Duncan Wanblad told the FT Metals and Mining Summit that talks with technology companies about taking equity in the miner are under way, though no stakes have been taken. The question from tech is whether to lock in long-term offtake or hold equity to secure future supply. Anglo is also waiting on China's final clearance for the Teck merger, with the parties still expecting to close by March 2027.
|
|
Reuters
Cartier-Owner Richemont Considers Joining Bidders for De Beers, Source Says
Richemont, owner of Cartier, is in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, which is bidding for Anglo American's 85% stake in De Beers, a person familiar with the matter told Reuters. De Beers is valued at about US$1 billion, with Signet in talks to join the consortium and Pluczenik also bidding for a stake. Botswana, which owns the other 15%, has yet to say whether it will exercise a first right of refusal.
|
|
Mining.com.au
US Project Vault Set to Unleash $1.45 Billion in Loans
Project Vault, the US Government-backed critical minerals stockpile, is preparing up to US$1 billion (A$1.45 billion) in first-round loans to US manufacturers, Bloomberg reports, with more than a dozen firms in the first tranche and borrowers not named at this stage. It is backed by a US$10 billion loan from the Export-Import Bank of the United States and nearly US$2 billion of private capital, and Glencore and Mercuria have committed US$500 million each. Fastmarkets reports market sources questioning the commercial model and the lack of clarity on pricing, including whether there is a price floor.
|
|
The Northern Miner
Antofagasta Slides as Copper Outlook Disappoints
Antofagasta shares fell 6.4% to £33.40 after its 2027 copper guidance of 630,000 to 690,000 tonnes landed about 6% below BMO's forecast at the midpoint, and higher diesel prices lifted 2026 cash cost guidance to US$2.60 to US$2.70 per lb from US$2.40 to US$2.60. Third-quarter output rose 7% on the quarter to 151,900 tonnes, though production through September of 436,900 tonnes is down 8% on a year earlier. Two unions representing about 20% of Centinela's direct workforce have declared a strike, and negotiations continue.
|
|
Mining.com
Op-Ed: New Investment Could Reshape US Mining
SME CEO Melissa Russell argues in an op-ed that about US$3 billion of federal mining and processing investment, including more than US$180 million for education and workforce development, plus Bank of America's US$250 billion infrastructure financing initiative, could reshape US mining. US mining engineering enrolment fell from nearly 1,500 students eight years ago to fewer than 600 in 2023, according to SME data. The US$100 million PROSPECT program aims to double graduates in mining and critical minerals degrees within two years.
|
|
Mining Weekly
World's Biggest Platinum Mine Nears Decision on Underground Move
Valterra Platinum is nearing a decision that is likely to take Mogalakwena, the world's largest platinum mine, underground through the Sandsloot project, with trial mining planned later this year and a final investment decision in 2027. Open-pit grades are declining and mining costs are rising, although the mine has more than eight decades of reserves. CFO Sayurie Naidoo said going underground is the most cost-effective option, and CEO Craig Miller said forecasts for battery EV uptake have consistently proved overoptimistic.
|
|
Mysteel
Beyond Lithium's Steep Drop: Assessing China's Lithium Market Fundamentals
Mysteel assessed battery-grade lithium carbonate at Yuan 107,000 a tonne on 14 October, while the most-traded GFEX contract, LC2701, closed at Yuan 100,900, down 36.08% since 1 September. Spot remains tight, with sampled enterprises drawing down 27,720 tonnes of inventory since early September and Q4 destocking likely to exceed 50,000 tonnes. Two cathode makers have disclosed hedging losses, including a Yuan 93.85 million loss at Wanrun New Energy realised between 29 September and 12 October.
|
|
Miningmx
Rich Families Are Buying Gold and the Companies That Mine It
Family offices that first bought gold are now turning to mining equities, Allied Gold chairman and CEO Peter Marrone told a panel at the FT Metals and Mining Summit in London, saying a rising gold price multiplies through producers, with 100,000 ounces of production becoming 150,000. Standard Chartered's Suki Cooper said family offices have become increasingly visible among gold ETF holders globally. Texas Teachers Pension Fund's Shayne McGuire said many institutions hold less than 1% in gold, while Aon Investments' Paul Carne said portfolios his team manages carry a strategic allocation of about 5.5% through an ETF.
|
| |
|
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.
|
|
