The Drill Down
Wednesday 19 August 2026
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Presented By
ASX: TM1
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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.
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Lead Insight
Prime Minister Carney Announces the Largest Clean Energy Investment in North American History
C$10 billion of federal financing goes to expanding Churchill Falls, developing Gull Island and building transmission, inside a package near C$70 billion for 14,000MW, 23,000 jobs and C$31 billion of GDP to the early 2040s. The Labrador Trough corridor is referred to the Major Projects Office, with First and Last Mile Fund support for Kami iron ore, Focus Graphite's Lac Knife and SFP Pointe-Noire.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,333
-0.02%
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Silver
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$63
-0.28%
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Platinum
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$1,710
-0.22%
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Palladium
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$1,285
-0.18%
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Base Metals & Commodities
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Copper USD/t
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$14391.59
-0.14%
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Nickel USD/t
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$16747.50
+0.18%
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Zinc USD/t
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$3670.19
-1.64%
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Lead USD/t
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$1876.80
+0.03%
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WTI Crude USD/bbl
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$84.45
+0.05%
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Prices updated as of 19 Aug 2026, 9:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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Torr Metals Inc.
Phase II drilling at Bertha North in southern British Columbia has reached 1,733 metres of a fully funded 6,000 metre program. The first four holes returned native copper, chalcopyrite and chalcocite in veinlets, and hole 26-KO-03 cut an interpreted potassic-altered intrusive from about 425 to 444 metres inside a 104 metre sericitic envelope, on the margin of a chargeability anomaly open at depth. Assays are pending and Torr does not interpret the potassic intrusive itself as the target.
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Steadright Critical Minerals Inc.
NSM Capital, 76.5% held by Steadright, has locked in a full 32% carried interest in the TitanBeach titanium project in Morocco, with no further contribution to exploration or production costs and about 24.5% effective to Steadright. The claims sit in a new vehicle, Shan Tang Mining, formed with Homme Construction, which has signed a framework cooperation agreement with a state-owned engineering and construction group covering a pilot plant and long-term mine planning. The 16 square kilometre concession is the first mining licence granted for coastal-waters heavy mineral sands recovery in the Atlantic.
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Westward Gold Inc.
Hole T2601, the first 2026 core hole at the SSD target on the Toiyabe Hills property in Nevada, returned 12.0 metres at 8.06 g/t gold within 27.0 metres at 3.72 g/t, hosted in Wenban Formation limestone. The higher-grade zone is controlled by a high-angle fault carrying breccia, decalcification and sooty pyrite, against legacy interpretations that had gold as stratiform along the Roberts Mountains Thrust. True widths are estimated at 50% to 70% of reported lengths, and a deep-capacity RC rig is now drilling T2603.
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Astra Exploration Inc.
First assays from eight of sixteen Phase III diamond holes at La Manchuria in Santa Cruz, Argentina. LMD-148 returned 2 metres at 80.54 g/t gold and 44.5 g/t silver from quartz-sulphide veinlets and fault breccias 120 metres from surface, with LMD-143 at 2 metres of 26.23 g/t gold and LMD-142 at 1 metre of 15.85 g/t gold and 219.8 g/t silver. The intervals are narrow, eight holes remain pending, and Phase IV is scheduled for early October.
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Arras Minerals Corp.
EL26036 at Berezski North on the Elemes project in Kazakhstan returned 568.9 metres at 0.33% copper equivalent from 78 metres, including 168 metres at 0.51%, with EL26034 at 399.7 metres of 0.26%. Arras says infrared alteration data suggests both holes tested the margins of the principal porphyry, with the core interpreted further southwest, and a new strategic shareholder now holds about 8.3%. The widths sit well below EL26032 in June, which returned 935.9 metres at 0.71% copper equivalent.
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Focus Graphite Inc.
Chairman Jeff York is converting the final C$835,000 of loans dating to 2019 and 2020 into 1,670,000 shares at C$0.50, an 11% premium to the C$0.45 close on 17 August. The same release flags Lac Knife's inclusion in the First and Last Mile Fund support announced by Prime Minister Carney on 17 August, covering pre-construction work on a transmission line and road to the Hydro-Québec grid.
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Market data as of 19 August 2026, 9:30 AM 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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US Department of Energy
DOE's Office of Critical Minerals and Energy Innovation Announces $162 Million To Accelerate Critical Minerals and Materials Recovery from Industrial Sources
Nine projects selected under Topic Area 2 of the Mines and Metals Capacity Expansion funding opportunity, recovering scandium, copper, antimony and rare earths from industrial feedstocks at bench and pilot scale. Selections include Alcoa USA, Thompson Creek Metals, Felix Gold Alaska, DISA Technologies and Trigg Minerals. The money comes out of the near US$1 billion package announced in August 2025.
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Fastmarkets
What Is Low-Carbon Copper Worth? Market Grapples With Definitions, Emissions and Premiums
Fastmarkets launched a copper Grade A cathode low-carbon combined premium, FCA Europe, on 18 August, covering cathode at a maximum 1.5 tCO2e per tonne across Scopes 1, 2 and 3. It assessed at $315 to $411 per tonne, against $270 to $300 for the standard cathode premium delivered Germany. Published footprints run from about 0.63 tCO2e at Montanwerke Brixlegg to 1.289 at Aurubis and 1.5 at Boliden, on methodologies that are not directly comparable.
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Business Insider Africa
Africa's Second-Largest Copper Producer Eyes Record $1 Billion in IPOs as Election Ends Uncertainty and Copper Prices Surge
The Lusaka Securities Exchange expects to bring a record US$1 billion of initial public offerings to market after this month's presidential election, chief executive Nicholas Kabaso said in a 12 August interview. Zambia is Africa's second biggest copper producer and is carrying the benefit of the run in copper prices.
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Kitco News
Nearly 70% of Exchange Copper Sits in America and Some May Be 'Stranded': Saxo's Hansen
COMEX now holds close to 70% of the copper reported across COMEX, the LME and Shanghai, against US consumption of 6% to 7% of the global total, Saxo Bank's Ole Hansen told Kitco. The pull is a Commerce Department recommendation for a phased duty on imported refined copper, 15% in 2027 rising to 30% in 2028, still undecided seven weeks past its deadline. LME stocks stood at 207,825 tonnes at Monday's close, 104,750 tonnes cancelled, 63% of that in American warehouses.
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Reuters
Aramco and Maaden to Form Mineral Exploration Venture in Saudi Arabia
Maaden and Aramco have signed a shareholders agreement for a joint venture owned 51% by Maaden and 49% by Aramco, covering Zone-4, the Transition Zone of the Arabian Platform. The ground runs about 182,000 square kilometres, close to 10% of Saudi land area, along a 100 kilometre wide corridor parallel to the Arabian Shield, with exploration led by copper alongside zinc, lead and rare earths. Aramco brings 90 years of geological and geophysical data plus high performance computing, against plans first disclosed in January 2025.
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Mining Weekly
Almonty Launches Up to $300m Share Buyback Programme
The tungsten miner has approved a repurchase of up to $300 million, covering as much as 14.4 million common shares, about 5% of shares outstanding at 14 August, over 36 months on Nasdaq. Chief executive Lewis Black said the board acted because the share price does not reflect the underlying value of the company or its assets, with Sangdong advancing toward full capacity.
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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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