The Drill Down
Monday 24 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.
Download Full Report
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Lead Insight
Bunker Hill and Silver47 Announce Merger to Create a 'Made in America' US Silver and Critical Minerals Champion
Bunker Hill will acquire all of Silver47 by plan of arrangement under a definitive agreement dated 20 August, with Silver47 holders receiving 0.1724 Bunker Hill shares each. The exchange ratio implies US$0.67, or C$0.93, a Silver47 share and aggregate equity value of about US$163 million, C$225 million, on a fully diluted in-the-money basis, a 38% premium to the 20 August close and 30% to the 20-day VWAP. The combined company will be renamed Bunker Hill Silver Corp and stay on the TSX, with Bunker Hill holders on about 57% and Silver47 holders 43% on a basic basis, pairing the operating Bunker Hill Mine in Idaho's Silver Valley with Silver47's US silver development pipeline.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,603
+1.86%
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Silver
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$69
+1.31%
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Platinum
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$1,883
+0.31%
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Palladium
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$1,344
+1.06%
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Base Metals & Commodities
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Copper USD/t
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$14708.13
+1.54%
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Nickel USD/t
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$17009.50
+0.68%
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Zinc USD/t
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$3816.47
+2.49%
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Lead USD/t
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$1890.60
+0.03%
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WTI Crude USD/bbl
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$86.27
-0.43%
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Prices updated as of 24 Aug 2026, 8:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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Sherritt International Corporation
Buying reversed the previous session's heavy fall on the same court news. The Ontario Superior Court of Justice declined to compel a shareholder meeting inside Kyma Capital's timeframe and, in a 20 August endorsement, found no meeting had been called for late September despite Kyma's release saying otherwise. Kyma's application to move the combined annual and special meeting ahead of the scheduled 15 December date is expected to be heard in late September.
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PPX Mining Corp
PPX completed its debt settlement on 20 August, issuing 6,533,921 shares at a deemed price of C$0.185 to fully retire US$860,093.57 (C$1,208,775.50) of royalty debt owed to an arm's length creditor, with a hold period to 20 December. It follows environmental approval on 18 August for a 10,315 metre drill program at Portachuelos, part of the 100% owned Igor gold and silver project in La Libertad, northern Peru.
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Greenheart Gold Inc
A 2,000 metre diamond drilling program began on 20 August at the Tosso Creek project in Suriname, starting at the Walaba target with Swalanga to follow. Trenching at Walaba returned 7.0m at 4.57 g/t gold in TOST26-024, including 4.0m at 7.89 g/t, and 52.0m at 0.77 g/t in TOST26-021A. Soil sampling, trenching, mapping, LiDAR and drone magnetics have outlined four target areas at Maconia, Swalanga, Walaba and Sevil.
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Tintina Mines Ltd
Shareholders approved every resolution at the 21 August annual and special meeting, including the minority interest acquisition, control person and management change resolutions, each carrying more than 99.9% support. Escrow release conditions are expected to be satisfied on 24 August, freeing the offering proceeds, converting the subscription receipts and installing Claude Dufresne as chief executive. Selling reads as sell-the-news into that conversion after a run from a 52-week low of C$0.24 to a C$3.60 high.
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Valhalla Metals Inc
No specific catalyst identified, with volume of 30,600 shares against a 26,658 average pointing to momentum unwind rather than news flow. Valhalla said on 10 August that VTEM surveying had defined multiple untested conductive targets at the flagship Sun project in Alaska's Ambler district, where a fully funded 2026 drill program is underway and the known resource stays open along strike and down dip below 200 metres. The neighbouring Smucker project was acquired from Teck on 1 June, with Teck and Marubeni taking part in the concurrent placement.
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Bunker Hill Mining Corp
Bunker Hill agreed on 20 August to acquire Silver47 in an all-stock plan of arrangement, with Silver47 holders receiving 0.1724 Bunker Hill shares each. That implies US$0.67 (C$0.93) per Silver47 share, a 38% premium to the 20 August close and 30% over the 20-day VWAP. Bunker Hill holders would own about 57% of the combined company, to be renamed Bunker Hill Silver Corp and stay listed on the TSX, with the selling reflecting the premium and dilution being carried.
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Market data as of 24 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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MiningHub
The Metals Royalty Company Announces Fully Allocated US$165 Million Financing To Fund Acquisition Of Additional 1.0% Mesabi Royalty
US$140 million of five-year second-lien convertible notes at an 8.00% coupon and a US$25 million first-lien term loan at Term SOFR plus 4.00% will fund the additional 1.0% royalty on the Mesabi Metallics iron ore project at Nashwauk, Minnesota, bought from Ironclad Royalties, and repay the existing senior term loan. Ironclad's share consideration rises to US$27.5 million from US$7.5 million, with closing expected on or about 24 August.
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Mining.com
Silver Price 20% August Surge Sends Miners Soaring
Spot silver touched US$70 an ounce on 21 August, up from about US$57.59 at the end of July, after the US Treasury doubled long-bond buybacks. Hecla Mining led the equities with a 47% August gain, Wheaton Precious Metals added 44%, and Coeur, First Majestic and Fortuna each rose 42%. Bank year-end and peak calls now span roughly US$67 to US$118.
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Mining.com
Europe Relies Increasingly On Russia For Uranium Needs, Sprott Says
Sprott reports Russian uranium deliveries to EU utilities rose 7% in 2025, conversion 9% and enrichment sales 12%, leaving Russia at 16% of European uranium supply, 24% of conversion and 23% of enrichment. Kazakhstan covered 20% of EU and 28% of US deliveries, while global 2026 contracting sat near 37 million pounds through 10 August, a fourteenth straight year below consumption.
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Bloomberg
Dalio Says Sell Bonds, Buy Gold, Bitcoin As Debt Crisis Looms
Ray Dalio said on 21 August that investors should underweight bonds and hold 10% to 15% of a portfolio in gold plus a small bitcoin position, warning a US debt crisis could arrive in three years, give or take two. He puts US government revenue near US$5.5 trillion this year against US$7.5 trillion of spending, with roughly US$1 trillion of interest costs and about US$10 trillion of debt to refinance. He wants the deficit cut to 3% of GDP from about 6%.
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Mining.com
Central Nevada Gold On Mine Hunt: CEO
Central Nevada Gold closed the US$20 million purchase of Newmont's past-producing Mule Canyon mine in late June, US$10 million at closing with the balance due next June or on listing. CEO Simon Griffiths is targeting prefeasibility and permitting through the second half of 2027 and an IPO as early as the first half of 2027. Mule Canyon produced about 500,000 ounces from 1996 to 2000 at an average 3.8 g/t gold, with only two of six zones mined.
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Mysteel
CNCA: July Output At China's Top 10 Coal Groups Drops 4.6% MoM
Raw coal output from China's ten largest producers totalled about 168 million tonnes in July, down 4.6% on June, on Mysteel Global calculations of China National Coal Association data. The fall was far milder than the 10.1% month-on-month drop in national output, which the National Bureau of Statistics put at 343 million tonnes for the month.
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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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