The Drill Down
Friday 17 July 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
Minerals Council Blasts Australian States Over Uranium Mining Bans
The Minerals Council has called state uranium mining bans in New South Wales, Queensland and Western Australia outdated and ideologically driven, as the scale of supply needed for the new India export deal comes into focus. All three of Australia's working uranium mines sit in South Australia, and Resources Minister Madeleine King says Olympic Dam alone can cover what India needs.
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Our Take
Australia holds the world's largest uranium resources and mines them in one state. India's demand does not break that, but it does hand the industry its best argument in a decade. Watch WA, where the moratorium is policy rather than legislation.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$3,987
+0.26%
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Silver
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$55
-0.39%
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Platinum
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$1,595
-1.44%
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Palladium
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$1,243
-0.56%
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Base Metals & Commodities
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Copper USD/t
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$13769.03
-1.03%
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Nickel USD/t
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$17090.00
+1.74%
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Zinc USD/t
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$3544.49
-0.27%
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Lead USD/t
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$1871.00
+0.28%
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WTI Crude USD/bbl
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$79.16
+0.27%
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Prices updated as of 17 July 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - ASX Markets
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Tartana Minerals Limited
Tartana signed a placement agreement with Xingye Gold to raise $5.18 million at 5.3 cents a share, a 165% premium to its last traded price, taking the Chinese group to 19.99% across two tranches. Funds go to exploration at the Nightflower and Montalbion silver projects in Far North Queensland, with completion subject to due diligence, Chinese approvals and FIRB.
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Buxton Resources Limited
No announcement accompanied the move at the explorer, which holds the Graphite Bull project in the Murchison alongside Kimberley and Fraser Range joint ventures with IGO and the Copper Wolf project in Arizona. A $1.14 million placement at 3.5 cents settled this month to fund drilling at the Madman target in Western Australia.
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Bison Resources Ltd.
No announcement drove the gain at the Nevada explorer, which holds 312 claims across four contiguous projects in Elko County on the Carlin Trend. Bison was the standout ASX float of 2026, listing at 20 cents in April and closing its first day at 65 cents, and remains well below those highs while it works up maiden targets.
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Great Northern Minerals Limited
No announcement accompanied the fall at the explorer, which delivered a maiden resource of 480,000 ounces of gold and 11.5Moz of silver at Iron Butte on Nevada's Battle Mountain trend last month, alongside the Catalyst Ridge rare earths ground in California. With maiden drilling not due until the September quarter, the stock has given back part of a heavy twelve-month run.
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Apollo Minerals Limited
No announcement drove the pullback at the explorer, whose Couflens tungsten-gold project in the French Pyrenees regained its permit in January and sits on the historic Salau mine, one of the world's highest-grade tungsten operations until 1986. The Kroussou zinc-lead ground in Gabon rounds out the portfolio, and the stock has run hard on the Western tungsten theme.
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Tivan Limited
Tivan flagged community information forums in Wyndham and Kununurra for August as the Speewah fluorite project heads toward a definitive feasibility study and a final investment decision targeted for the December quarter. The notice is routine engagement rather than a catalyst, and the fall reads as profit-taking on a pre-revenue developer as critical minerals sentiment cooled.
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Market data as of 17 July 2026, 4:10 PM AEST
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This Week's Poll
Which Best Describes You?
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○ High-net-worth investor
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○ Government / Institution
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Today's Stories
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Mining.com
China's Xi Calls on Kazakhstan to Deepen Mineral and Energy Ties
Xi Jinping called on China and Kazakhstan to expand energy and mineral cooperation and accelerate key projects, reinforcing Beijing's drive to secure critical mineral supply chains.
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Our Take
Xi personally pushing Kazakh projects is Beijing locking upstream supply while the West debates policy. Read it as a rising acquisition cost for any Western entrant into Central Asia.
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Business Insider Africa
Africa's Largest Gold Producer Alters 20-Year-Old Mining Laws to Give Power Back to Its People
Ghana has approved a revised mining law to replace the 2006 Minerals and Mining Act, aimed at indigenising the sector. Prospecting licences give way to a single five-year exploration licence, with new district committees handing communities an early role in licensing.
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Our Take
A five-year tenure cap changes the maths for juniors, since Ghanaian discoveries rarely reach a decision inside that window. Community committees add a stakeholder before a single hole is drilled.
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Bloomberg
Industrial Metals Decline as Traders Weigh Fed Rate Outlook
Base metals retreated on Friday as traders weighed higher rates and the hit to demand, with a growing chorus of Federal Reserve officials warning the bank may soon need to lift.
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Our Take
Rate expectations move the price, not the tonnes. A hawkish Fed pressures the complex the same week the IEA flags treatment charges at zero, which is how entry points open.
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Nikkei Asia
Rare-Earth Costs Surge Over 20% for Japanese Firms, Survey Shows
Rare earth procurement costs for Japanese companies have jumped more than a fifth in a year on China's export restrictions. China supplies 61% of their imports on average, and one in ten firms cannot pass on any of the extra cost.
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Our Take
One in ten eating the increase is where a supply shock becomes a margin story. At 61% reliance, Japanese buyers are the natural anchor customer for any non-Chinese chain that can deliver.
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Mining.com
Australia's Only Manganese Smelter to Close, Administrators Say
The Liberty Bell Bay smelter in Tasmania, formerly owned by Sanjeev Gupta's GFG Alliance, will close according to administrators. The state's peak mining body warns the shutdown leaves Australia more exposed to geopolitical risk.
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Our Take
Losing the country's only manganese smelter hands more downstream leverage offshore. The GFG link is the lesson: owner balance sheets shutter strategic processing far more often than orebodies do.
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Mining.com
Switzerland and Indonesia Step Up Cooperation in Metals and Rare Earths
Switzerland and Indonesia have signed a memorandum of understanding to strengthen cooperation in metal and rare-earth extraction, reflecting growing efforts to diversify critical mineral supply chains.
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Our Take
An MOU is intent rather than capital, but Swiss trading muscle paired with Indonesian resource depth is a credible route to non-Chinese supply. Wait for binding offtake before assigning value.
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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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