The Drill Down
Tuesday 22 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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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,324
-0.46%
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Silver
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$65
-1.02%
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Platinum
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$1,784
-1.19%
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Palladium
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$1,293
-1.07%
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Base Metals & Commodities
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Copper USD/t
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$15079.19
+0.33%
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Nickel USD/t
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$16347.50
+0.88%
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Zinc USD/t
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$3917.40
+0.37%
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Lead USD/t
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$1927.70
+0.08%
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WTI Crude USD/bbl
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$93.71
+1.45%
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Prices updated as of 22 Sept 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Global Lithium Resources Ltd.
Titan Australia Mining, part of the UAE's Titan Lithium Group, will acquire Global Lithium for A$1.15 per share cash, a 73% premium valuing the company at approximately A$333 million. Titan is also funding up to A$120 million in bridging finance to keep the Manna Lithium Project on track through the scheme, due to complete January 2027.
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Waratah Minerals Limited
Drill hole SPD075 at Spur's Consols Zone returned 46m at 7.27 g/t Au from 541m, including 10m at 28.93 g/t Au and a single 1.3m sample at 206 g/t Au. The result extends mineralisation 70m north and 150m east of existing drilling, linking four high-grade zones across roughly 400m of strike.
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Minrex Resources Limited
Infill drilling at Barje's central zone, previously modelled as a low-grade gap, returned the project's best intercepts to date, headlined by 36m at 5.85 g/t AuEq from 47m in BAR046 (AuEq at US$3,300/oz gold, US$45/oz silver). Results feed Minrex's maiden JORC Resource, due next quarter.
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Latrobe Magnesium Limited
The move tracks an A$8.5 million raise, a A$5.1 million placement plus a Shaw and Partners underwritten A$3.4 million entitlement offer, both at $0.015 a share, a 6.8% discount to the five-day VWAP. Proceeds fund the Demonstration Plant's Phase 1B completion, 2026 commissioning, and the initial 50 ktpa US plant study.
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Tungsten Mining NL
Tungsten Mining raised $50 million at $0.32 a share, a 16.9% discount to last close, to advance Watershed toward Final Investment Decision. Euroz Hartleys and Jefferies were joint lead managers; proceeds also cover general corporate purposes.
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Catalyst Metals Limited
Catalyst's Cinnamon Resource grew 370% to 6.9Mt at 2.5 g/t Au for 541koz, with a maiden underground Reserve of 232koz at 3.0 g/t supporting a 7.5 year mine life at 40 to 50koz per annum. That news landed two sessions ago, so today's fall reads as profit-taking after the run.
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Market data as of 22 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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TMX Money
Silver Tiger Metals Announces $87 Million Bought Deal Financing And El Tigre Project Capital Cost Update
Silver Tiger Metals has agreed a C$87 million bought deal with Stifel Nicolaus Canada leading the syndicate, issuing 87 million units at C$1.00 each, one share plus half a warrant struck at C$1.35 for 24 months, with a 30-day 15% over-allotment option that could lift proceeds to roughly C$100 million, closing on or about 13 October. The raise coincides with an updated capex estimate for the El Tigre Stockwork Zone of approximately US$124 million, up US$37 million from the 2026 technical report, driven by about 10% industry-wide cost escalation, a US$25 million addition to earthworks after geotechnical drilling nearly doubled the blasting-required rock volume, and higher negotiated equipment pricing. As at 10 September, about 66% of the total was already contractually committed, with commissioning and first gold-silver pour still targeted for December 2027.
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Listcorp
Record High-Grade Intercepts Reshape Barje Resource Model
Nine diamond holes for 750.4m through the central zone of Minrex's Barje Deposit delivered the widest and highest-grade intercepts drilled at the project to date, headlined by 36m at 5.85 g/t AuEq from 47m in BAR046, including 14m at 7.74 g/t AuEq. The zone was previously modelled as a low-grade saddle between Barje's two high-grade envelopes based on a single historical hole; today's results indicate the two zones may instead form one connected high-grade body through the deposit's centre. AuEq assumes gold at US$3,300/oz and silver at US$45/oz, with results feeding Minrex's maiden JORC Mineral Resource Estimate due next quarter.
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Northern Miner
Australia Gold Output Holds Near Decade Average
Australian gold output held near its decade average at 303 tonnes, about 9.7 million oz, in the year to June, according to Surbiton Associates, even as seismic disruption at Newmont's Cadia cut quarterly production by 60,000 oz. Newmont's Boddington led all producers at 563,000 oz for the year, while Northern Star's Super Pit expansion to 27 million tonnes annual throughput is already commissioning. High copper prices are also reshaping gold-copper economics, with Evolution's Northparkes posting an AISC of minus A$10,696/oz on copper credits in the June quarter.
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Miningmx
Does Sibanye-Stillwater Need Its US Mine? Probably Not
Miningmx's David McKay argues Sibanye-Stillwater's Montana-based Stillwater PGM mine, strategically prized under founding CEO Neal Froneman as a Western supply diversifier, may not be essential under current CEO Richard Stewart's more pragmatic strategy. Stillwater needs AISC down to US$1,000/oz to survive at the group's conservative US$1,100/oz long-term palladium assumption against a current US$1,347/oz, and Steelworkers-represented miners at Stillwater East have been on strike since 2 September over a mechanisation push. About 60% of Sibanye-Stillwater's interim EBITDA comes from South African PGM production, with the balance from South African gold.
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Listcorp
Tungsten Mining Requests Trading Halt Ahead Of Capital Raising
Tungsten Mining requested a trading halt effective 21 September under ASX Listing Rule 17.1 while in discussions on a potential capital raising, with the halt set to lift at the earlier of trading resuming Wednesday 23 September or the release of an announcement. The halt lifted the same day the company announced firm commitments for the $50 million placement at $0.32 per share covered in the W&L block above.
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Listcorp
Global Lithium Enters Into Binding SID With Titan
Global Lithium Resources has entered a binding Scheme Implementation Deed under which Titan Australia Mining, part of the UAE-headquartered Titan Lithium Group, will acquire 100% of the company for A$1.15 per share in cash, valuing it at approximately A$333 million, a 73% premium to the 18 September close. Titan is also providing up to A$120 million in bridging finance so development of the Manna Lithium Project continues uninterrupted through the scheme, with the Scheme Meeting expected in late December 2026 and implementation targeted for January 2027.
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Listcorp
AngloGold Exercises Option Early For $55 Million
AngloGold Ashanti has formally exercised early its option over tenements within Matsa's Lake Carey Gold Project near Laverton, WA, with the purchase price fixed at $55 million, replacing the original gold price-linked formula. Matsa will receive a $10 million deposit within three business days and the $45 million balance at completion, expected within 15 business days of satisfying conditions including ministerial consent, while AngloGold retains a 12-month right of first refusal over the retained Fortitude North tenement. Matsa's shares remain suspended pending completion of an operational review, with KPMG and KordaMentha appointed to two subsidiaries.
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Bloomberg
China's Gold Imports Top 1,000 Tons On Strong Investment Demand
China's gold imports through August topped 1,000 tons this year, already surpassing the full 2025 total, according to customs data going back to 2017. Jinrui Futures analyst Zijie Wu attributed the pace to strong investment demand that has kept onshore prices at a slight premium to world benchmarks, continuing to entice import volumes into the world's largest bullion market.
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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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