The Drill Down
Friday 24 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
India and Myanmar Signal Closer Rare Earth Mining Ties
India and Myanmar have signalled closer rare earth cooperation, exploring the collection and transportation of samples from mines under KIA control. The move reflects India's push to diversify critical mineral supply chains.
|
Our Take
Sourcing feedstock from mines held by an armed group puts security risk on the same page as supply diversification. That is the price of non-China units.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,050
-1.95%
|
|
Silver
|
$58
-3.43%
|
|
Platinum
|
$1,597
-2.43%
|
|
Palladium
|
$1,253
-3.07%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$14056.53
-2.34%
|
|
Nickel USD/t
|
$17267.00
+0.87%
|
|
Zinc USD/t
|
$3558.39
-0.14%
|
|
Lead USD/t
|
$1877.80
-0.27%
|
|
WTI Crude USD/bbl
|
$92.13
-0.29%
|
|
Prices updated as of 24 July 2026, 8:03 am AEST
|
| |
Market Movers
Winners & Losers - Canadian Markets
|
Argentina Metals Corp.
No announcement drove the move. Argentina Metals listed on the venture exchange only last month and holds about 146,700 hectares across 26 copper projects in Mendoza Province, anchored by its Las Estrellas flagship. Thin trade in a fresh listing and firm copper sentiment explain the swing rather than any catalyst.
|
|
Sankamap Metals Inc.
No announcement accompanied the rise, which bounces the stock off recent lows. Sankamap is exploring its Oceania project in the Solomon Islands, the Kuma and Fauro copper-gold properties sitting on the same arc that hosts Panguna and Lihir. With drilling paused while data is assessed, the move reads as technical.
|
|
Element 29 Resources Inc.
Element 29 extended hole ELID035 to return 1,534.6m at 0.58% copper equivalent from 56.6m, its longest intercept yet at the Elida porphyry project in central Peru, including 1,071.1m at 0.61% beyond the current resource. Lengths are downhole with true widths not yet known. Two rigs are turning on a 10,000m program, with a resource update due on completion.
|
|
|
|
Green Bridge Metals Corporation
Green Bridge announced a C$5 million best efforts public offering and the stock was marked down hard. The company is exploring copper, nickel and titanium ground in Minnesota's Duluth Complex, including the Skibo and Titac projects. Coming after earlier raises this year, the market treated it as dilution at depressed levels.
|
|
Sendero Resources Corp.
No announcement accompanied the fall. Sendero is advancing its wholly owned Penas Negras project, roughly 120 square kilometres in Argentina's Vicuna copper-gold belt, within sight of Lundin's Caserones mine and the Filo del Sol development. With no catalyst on the tape, the move looks like selling in a thin stock.
|
|
Surge Copper Corp.
No announcement accompanied the fall. Surge is advancing its wholly owned Berg copper-molybdenum-silver project in central British Columbia, where a pre-feasibility study landed in June and this year's field program began earlier in July. With copper easing back from record territory, the move tracks the metal rather than the company.
|
|
Market data as of 24 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
|
Rare Earth Exchanges
CATL Clears Major Regulatory Hurdle for Strategic Lithium Mine, but China's Real Advantage Is Already Built
CATL secured the work safety permit for its Jianxiawo lepidolite mine in Jiangxi, the last approval needed to restart a operation idle since its licence lapsed in August 2025. The mine carries roughly 100,000 tonnes of annual lithium carbonate capacity, and the permit runs to February 2028. Benchmark expects up to 50,000 tonnes of output this year.
|
Our Take
Beijing showed it can idle a tenth of domestic supply with paperwork and switch it back on. That control is worth more than the tonnes.
|
|
Mining.com
Copper Price Pulls Back From Record Territory as War Jitters Trump Earnings Beats
Copper retreated from record territory as escalating US-Iran tensions rattled metals markets, overriding strong miner earnings, Cobre Panama restart hopes and falling stockpiles. Freeport-McMoRan beat expectations as higher prices offset weaker Grasberg output, while Shanghai exchange inventories have collapsed 82% since early May and the Yangshan import premium sits near $103 a tonne.
|
Our Take
Macro fear is outvoting a physical market that keeps tightening underneath it. Stockpiles down 82% argue the pullback is noise, not a turn.
|
|
Mining.com
Equinox-Orla Merger Wins Approval, Creates Canada's No. 2 Gold Miner
Shareholders of both companies approved the $18.5 billion all-share merger of Equinox Gold and Orla Mining, creating Canada's second-largest gold producer behind Agnico Eagle with about 1.1 million ounces of annual output from six North American mines. Equinox holders will own roughly 67% of the combined group, with Orla shareholders receiving one Equinox share each. Court approval is expected around 28 July.
|
Our Take
Record bullion is funding consolidation in stable jurisdictions rather than new mines. Scale and liquidity are what the generalist money is paying for.
|
|
Other
Sweden Declares Mining a National Security Interest to Counter Dependence on China
Sweden has declared mining a national security interest as it moves to counter dependence on China for critical minerals. Officials said the designation could contribute significantly to Swedish, EU and NATO defence capabilities.
|
Our Take
Tying mining permits to NATO and EU defence capability changes the calculus for permitting timelines and state support in Sweden. Investors in Nordic critical minerals should expect faster approvals and potential public co-funding for projects framed as strategic.
|
|
Mining.com
Zimbabwe Taps Chinese Firms for $300 Million Lithium Project
Mutapa Energy Resources, Zimbabwe's state-owned lithium miner, secured $300 million from a group of companies including Chinese entities. The funding supports development of a lithium project.
|
Our Take
A $300 million Chinese-backed commitment into a state lithium miner deepens Beijing's grip on African battery-metal supply just as prices stay weak. For Western developers, this is another reminder that Chinese capital is setting the pace on lithium project financing.
|
|
AFR
Tata Steel Pushes for Coal Export Price Overhaul as Buyer Unrest Grows
Tata Steel is pushing for an overhaul of coal export pricing as buyer unrest grows. A spokesman for Resources Minister Madeleine King said negotiations between miners and their customers were a matter for those parties.
|
Our Take
Canberra declining to intervene leaves the pricing fight squarely between Australian coal exporters and buyers like Tata Steel. For met coal producers, buyer pressure on the pricing mechanism is a margin risk that investors have been slow to discount.
|
|
| |
|
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.
|
