The Drill Down
Tuesday 21 July 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
Peru Cuts Environmental Permitting Times to Fast-Track US$757M Mining Pipeline
Peru is cutting environmental permitting times to fast-track a US$757 million mining pipeline, aiming to accelerate infrastructure and mining project development.
|
Our Take
Faster permitting attacks mining's biggest hidden cost and lifts returns on Peruvian development assets. The catch is whether it survives the next political cycle.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,008
-0.23%
|
|
Silver
|
$56
+0.87%
|
|
Platinum
|
$1,594
+0.28%
|
|
Palladium
|
$1,253
+0.27%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$14050.93
+1.14%
|
|
Nickel USD/t
|
$16899.00
-0.62%
|
|
Zinc USD/t
|
$3488.49
-1.05%
|
|
Lead USD/t
|
$1868.60
-0.40%
|
|
WTI Crude USD/bbl
|
$82.62
+0.24%
|
|
Prices updated as of 21 July 2026, 8:03 am AEST
|
| |
Market Movers
Winners & Losers - Canadian Markets
|
Stroud Resources Ltd.
Stroud agreed to be acquired by Silver Hammer Mining in an all-share amalgamation dated 17 July, alongside a C$10 million financing and Eric Sprott coming in as cornerstone shareholder. Its 100%-owned Santo Domingo silver-gold project in Jalisco, Mexico anchors the combined silver resource. The stock resumed from halt and re-rated on the takeover.
|
|
Riverside Resources Inc.
No announcement accompanied the rise, which came on volume many times the daily average. Riverside is a Mexico-focused project generator advancing partner-funded gold-copper work at La Union in Sonora, backed by a royalty book.
|
|
Awale Resources Limited
Awale returned first assays from deeper drilling below the BBM open pit at its Odienne project in Cote d'Ivoire, headlined by 1m at 43.68 g/t gold equivalent within 7m at 7.21 g/t from 385m. The holes confirm the high-grade core extends at depth and point to an underground component, building on the recent 1.71Moz gold-equivalent inferred resource.
|
|
|
|
Sandfire Resources America Inc.
No announcement accompanied the fall, which unwinds Friday's halted spike after Sandfire told CIRO no material change explained the activity. The company is advancing the high-grade underground Black Butte copper project in Montana, and with no catalyst the move reads as the speculative run reversing.
|
|
Goldgroup Mining Inc.
The only filing was Eric Sprott's early-warning notice, which reflects a share exchange from the just-closed acquisition of Gold Resource Corporation rather than an open-market purchase. Goldgroup folded a four-for-one consolidation into the deal, and with no adverse news the fall reads as post-merger repricing. The company holds gold assets in Sonora, Mexico including the San Francisco project.
|
|
Giyani Metals Corp.
No announcement accompanied the fall at Giyani, which is advancing its 100%-owned K.Hill battery-grade manganese project in Botswana, one of few high-purity manganese developments outside China. A definitive feasibility study landed in May, and with no fresh catalyst the move reads as profit-taking on a thinly traded small cap.
|
|
Market data as of 21 July 2026, 9:30 AM AEST
|
| |
This Week's Poll
Which Best Describes You?
|
|
|
○ High-net-worth investor
|
|
|
|
|
|
|
○ Government / Institution
|
|
|
| |
Presented By
|
Enabling fractional mining royalty investment
|
|
| |
|
Today's Stories
|
Evion Group
Mining Permits Granted for the Maniry Graphite Project
Evion Group has been granted Mining Permits over its Maniry graphite project in southern Madagascar, converting its remaining exploration permits and securing tenure across the DFS project areas. Maniry is the EU's only endorsed graphite supplier from Africa, with grant funding in place and financing talks underway with the European Investment Bank and KfW. The 2022 DFS put the pre-tax NPV at US$263 million over a 21-year mine life.
|
Our Take
Permits move Maniry from prospect to development-ready and open the EU financing pathway.
|
|
AFR
It's Time for a New Way to Price Coal
POSCO, which holds stakes in mines producing Australian coking coal and iron ore, has called for a new approach to pricing coal, arguing current mechanisms need reform. The major customer is pushing to change how the commodity is benchmarked.
|
Our Take
A buyer POSCO's size attacking the benchmark threatens met coal margins directly. Reprice the mechanism and the spot upside driving earnings goes with it.
|
|
Reuters
China's Heavy Rare Earth Tap Stays Closed for Japan in June
China shipped no gallium, dysprosium, terbium or yttrium to Japan in June, customs data showed, extending curbs tied to a diplomatic rift since November. Japan runs the largest rare earth magnet sector outside China but stays reliant on Chinese heavy rare earth inputs. Overall Chinese magnet exports held firm at about 5,649 tonnes.
|
Our Take
Beijing is showing it can zero out a single buyer at will, and magnet volumes holding up proves it is targeting, not rationing. Every month at zero pulls forward the ex-China heavy separation build.
|
|
Mining.com
China to Take Measures on UK's Nationalization of British Steel
China's foreign ministry urged Britain to seek a mutually acceptable solution including compensation arrangements following the nationalisation of British Steel, and signalled it would take measures in response. The dispute escalates tensions over Beijing's steel investments abroad.
|
Our Take
Beijing's retaliation threat over British Steel raises the risk premium on Chinese-owned assets in the West. Nationalisation, not commercial exit, is now the cross-border endgame.
|
|
The Guardian
Australia's Fuel Tax Break Slowing BHP's Decarbonisation, Investors Warned
BHP investors have been warned that Australia's fuel tax break is slowing the miner's decarbonisation efforts. Leaked documents earlier this year revealed BHP had halted or delayed key climate initiatives.
|
Our Take
Cheap diesel under the fuel tax break guts the payback on BHP's decarbonisation spend, which is why the plans stalled. ESG holders should price the slippage.
|
|
The Australian
Wiluna Mining Float Prospectus Imminent as Gold Strength Holds
Wiluna Mining is preparing to lodge a prospectus for an ASX relisting, moving while gold prices hold firm. The Western Australian producer was delisted in April 2024 and had since been readied for a float by its deed administrators. The Wiluna Gold Project sits in the state's northern Goldfields and ranks among the country's larger gold resource bases.
|
Our Take
A relisting timed to a strong gold tape is the administrators cashing the cycle. The question for buyers is whether the restart economics hold if bullion turns.
|
|
| |
|
Kamoa Capital
kamoacap.com
|
|
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.
|
