The Drill Down
Thursday 17 September 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
WA Regulator Sharpens Focus on Mining Approvals
Department of Mines, Petroleum and Exploration director general Chris Shaw told the WA Mining Conference and Exhibition 2026 the regulator is targeting shorter assessment times and wider use of digital lodgement through its Resources Online platform. Assessment times under the mining development and closure proposal framework have fallen from 61 business days to 28, and the eligible mining activities pathway has saved about 1,700 business days by allowing exploration work inside set risk thresholds to proceed without detailed assessment. The department handled 36,800 tenure dealings last financial year, against record exploration expenditure of $2.7 billion in 2025 including $1.3 billion on gold, with the Exploration Incentive Scheme providing $18 million annually.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,331
+1.56%
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Silver
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$64
+2.10%
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Platinum
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$1,800
+2.71%
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Palladium
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$1,305
+2.28%
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Base Metals & Commodities
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Copper USD/t
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$14487.71
+1.71%
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Nickel USD/t
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$16219.50
+0.68%
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Zinc USD/t
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$3845.75
+1.56%
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Lead USD/t
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$1894.70
+1.07%
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WTI Crude USD/bbl
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$101.30
-1.10%
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Prices updated as of 17 Sept 2026, 5:39 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Latrobe Magnesium Limited
Latrobe received a US$15 million non-binding letter of support for equity funding of the feasibility study on its 50,000 tonne per annum magnesium plant in South Carolina, two days after announcing the project. The counterparty is a large US financial institution with US government relationships, conditional on due diligence, approvals and a matching US$15 million from a separate specified entity.
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Encounter Resources Limited
Aircore hole EAL1513 returned 51m at 5.0% Nb2O5 from 63m including 13m at 10.4% Nb2O5 at the Green deposit, Aileron Project, West Arunta, the highest-grade niobium intersection to date and outside the existing Resource boundary. Green holds an Inferred Resource of 19Mt at 1.6% Nb2O5 within 100Mt at 0.71% Nb2O5, with three rigs running and Emily and Joyce results due in October.
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Alara Resources Limited
Alara dispatched its 64th copper concentrate parcel from Sohar Port on 16 September, 1,305 wet metric tonnes containing approximately 243 tonnes of copper, against 207 tonnes on 6 September and 202 tonnes on 10 September. Production comes from the Al Wash-hi Majaza mine in Oman, held through Al Hadeetha Resources in which Alara has a 51% interest.
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Raptor Metals Ltd
No specific catalyst identified today. Raptor sold its remaining 3,200,155 Australian Gold and Copper shares for approximately $468,200 net on 15 September and reported borehole EM conductors at Chester on 14 September, across its Chester, Coyote and Foghorn copper projects in New Brunswick, with today reading as profit-taking on thin volume.
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Vertex Minerals Limited
No specific catalyst identified today. Vertex is developing the Reward Gold Mine at its 100%-owned Hill End Project in the Lachlan Fold Belt, NSW, where a 2 September Resource update returned 274,000 tonnes at 16.68g/t Au for 146,900 ounces ahead of full production from October, with the likely driver the A$4.2 million convertible loan converting at an assumed A$0.07 on 19 October shareholder approval.
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Sentinel Metals Limited
Sentinel reported 48m at 1.13g/t Au from 18m in DDCO26-003 at Columbia in Montana, including 6.1m at 3.50g/t, with the 700.8m deep hole DDCO26-002 returning a peak assay of 0.19g/t. Reads as sell-the-news against the 46.8m at 5.33g/t maiden intercept reported on 10 August, with the Resource update due in November.
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Market data as of 17 September 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.au
Venezuela Signs Gold, Aluminium Deals With Western Investors
New York-based Heeney Capital, partnered with Mercuria Energy Group, plans to restart the Choco gold mine in Bolívar state under a proposed 30-year investment plan, with an initial US$1 billion commitment confirmed by Heeney representative Samantha Carl-Yoder at the G20 Energy Summit in Houston. Choco was taken over by the Venezuelan government in 2011 and sits within a larger industrial complex in the El Callao mining district. The partners have separately agreed to ship around 15,000 tonnes of aluminium from the state-owned Venalum smelter to the US as soon as this week, a plant with roughly 430,000 tonnes of annual capacity.
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Our Take
Choco was taken into state hands in 2011, so US$1 billion committed up front on a 30-year horizon puts expropriation risk on the investor's own clock. The 15,000 tonne aluminium cargo is the near-term test, proving the sanctions and payment path before any mine capital is spent.
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Bloomberg
Hong Kong Sets Out Gold Hub as Driver for Commodities and Yuan
Hong Kong's first five-year plan, covering 2026 to 2030 and released on Wednesday, places a one-stop gold storage, trading, clearing and refining hub at the centre of a wider commodities and renminbi internationalisation push. A central clearing and settlement system for gold began trial operation in July and is set for formal launch in the first quarter of 2027, with HKEX to detail a yuan-denominated, physically settled gold futures contract. The plan targets deeper cooperation with the Shanghai Gold Exchange and Shanghai Futures Exchange and proposes a half-rate profits tax concession for commodity trading, against Asia accounting for more than 60% of global gold demand in 2025.
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Our Take
Clearing and physical delivery are where a hub gets built, so the Q1 2027 settlement launch carries more weight than the half-rate tax concession. A physically settled yuan contract gives the largest demand region a delivery point outside London and Comex, and Hong Kong's failed attempts since the 1980s make open interest the number to watch.
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Mysteel
CATL's Ya'an Lithium Salt Production Base Project Undergoes First Public Disclosure of Eco-Environmental Impact Assessment
CATL (Ya'an) New Materials Technology plans to invest Yuan 1.4 billion in a lithium salt production base in the Yongxing Industrial Zone of the Ya'an Economic Development Zone, covering roughly 350 mu with about 130,000 square metres of main building area. Designed annual capacity is approximately 40,000 tonnes of lithium carbonate, 30,000 tonnes of lithium dihydrogen phosphate and 130,000 tonnes of anhydrous sodium sulfate. The first public disclosure of the project's eco-environmental impact assessment has now been released by the Ya'an Economic and Technological Development Zone.
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Our Take
The 30,000 tonnes of lithium dihydrogen phosphate sizes the carbonate line to CATL's own LFP cathode feed. Taking 40,000 tonnes of conversion in-house removes merchant demand that Chinese converters currently bid for, and the environmental disclosure puts a visible construction clock on it.
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ABC News
Queensland Parliament to Debate Proposed Mining Law Changes
Resources Minister Dale Last introduced the Mineral Resources Objections Reform and Other Legislation Amendment Bill 2026 on Tuesday, restricting objections to directly affected landholders and others living within 125 kilometres of a proposed mine. Automatic referral of objections to the Land Court would be removed and replaced by a ministerial referral process, which the minister says will stop vexatious claims that left projects such as New Acland without certainty for almost 15 years. Queensland Resources Council chief executive Janette Hewson called the 125 kilometre limit an arbitrary number and argued for a sliding scale based on science and data, while barrister Chris McGrath said the changes blow holes in independent review.
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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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