The Drill Down
Friday 25 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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Lead Insight
India Sees Coal Remaining Power Mainstay Through 2035-36
India expects coal to supply about half its electricity through 2035-36 even as renewable capacity expands rapidly, senior power ministry officials said Thursday, with the Central Electricity Authority's Praveen Gupta confirming coal will hold that share of generation regardless. Coal-fired capacity is set to rise from about 224 GW currently to roughly 315 GW by 2035-36, with 50 GW already under construction including 31 GW awarded in the past two years. Joint secretary Aadhar Raj said the priority order is supply adequacy first, then affordability and reliability, framing energy security as a national security question.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,273
-0.03%
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Silver
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$64
-0.07%
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Platinum
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$1,752
-0.13%
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Palladium
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$1,258
-0.46%
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Base Metals & Commodities
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Copper USD/t
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$14994.40
-0.02%
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Nickel USD/t
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$16489.50
+0.32%
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Zinc USD/t
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$3988.95
+1.04%
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Lead USD/t
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$1926.30
+0.17%
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WTI Crude USD/bbl
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$92.70
-2.02%
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Prices updated as of 25 Sept 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - Australian Markets
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Great Boulder Resources Limited
No specific catalyst identified. Great Boulder requested a trading halt pending both its response to the ASX's price and volume query and the release of pending assay results, with securities to remain halted until Tuesday 29 September at the latest. The likely driver is positioning ahead of new assays at the flagship Peak Hill project in WA's Yilgarn Province, which last reported high grades on 7 and 8 September.
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Group 6 Metals Limited
No specific catalyst identified. Group 6 Metals' flagship is the Dolphin Tungsten Mine on Tasmania's King Island. The move looks consistent with broader tungsten sector momentum, following this week's reporting on Western tungsten supply tightness and China's dominant grip on mine production.
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Iondrive Limited
No specific catalyst identified from today's filing, a routine Section 708A notice covering 13 million shares already issued. Iondrive's flagship is IONSolv, a solvent-based platform recovering rare earths from end-of-life magnets, which returned an updated US$243 million post-tax NPV evaluation on 7 September.
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Meeka Metals Limited
Meeka priced a two-tranche $40 million institutional placement at $0.10 a share, funding the Mt Holland deferred consideration and development of the new Turnberry underground mine. The placement price sits at the prior close, and dilution from the 329.8 million Tranche One shares is driving the sell-off. The company also flagged September quarter gold recovery of 7 to 7.5koz and a post-placement cash balance of about $50 million.
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Arrow Minerals Limited
Profit-taking after a run. AMD had roughly doubled from $0.024 to a $0.037 intraday high over the prior two sessions on the Yarraloola Copper Project acquisition, a Niagara Bauxite exploration permit grant and the Leeuwin Pilbara Project acquisition. Responding to an ASX price query, the company confirmed no undisclosed material information, attributing the run to those announcements alongside the managing director's prior Atlas Iron background.
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First AU Ltd.
No specific catalyst identified. First Au's flagship is the Gimlet Gold Project near Kalgoorlie, where 62% of the 112,900oz resource was upgraded to Indicated in April. The stock has been highly volatile this year on a run of WA gold project acquisitions, including Barlee and, most recently, Riverina East.
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Market data as of 25 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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Mining.com
Nyrstar Launches Strategic Review of Dutch Zinc Smelting Operations
Nyrstar, owned by Trafigura, has launched a strategic review of its loss-making Budel zinc smelter in the Netherlands, citing rising energy costs, thin treatment and refining charges, and a lack of supportive government policy. CEO Guido Janssen said the Dutch government's 2027 budget excludes grid cost mitigation for energy-intensive industries, adding to the pressure. The 315,000 tonne a year plant, suspended in early 2024 and restarted that May, will keep operating as normal through the review, due to conclude by the end of 2026.
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Reuters
Nigeria, US Sign Agreement to Boost Mining Investment
Nigeria and the US signed a framework agreement in New York on Wednesday to deepen US investment across geological data, mineral exploration, development, processing and infrastructure, solid minerals minister Dele Alake said. The deal, signed with US Deputy Secretary of State Christopher Landau, follows Washington's push to diversify critical mineral supply chains and comes against Nigeria's estimated $700 billion in mineral resources as it looks to diversify away from oil. Alake said the country wants more local processing and quality jobs rather than remaining a raw material source, with the emerging lithium sector, where Chinese investors have been most active, among the areas Nigeria hopes the partnership will unlock.
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Mining.com.au
Lobito Corridor Power Push Strengthens Mineral Supply Chains
The US Trade and Development Agency has signed an agreement with Anzana Electric Group to fund power infrastructure along the 1,300km Lobito Corridor, linking the DRC and Zambia's mining areas to the Atlantic port of Lobito in Angola. The funding covers a feasibility study into rehabilitating and expanding hydropower and distribution infrastructure that both mining operations and local communities depend on. USTDA deputy director Thomas Hardy said the investment is meant to strengthen the copper and cobalt supply chains US economic and security interests depend on.
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Mining Weekly
Outlook for Platinum Buoyed by New Industrial Applications as Investment Demand Weakens
WPIC's Q2 Platinum Quarterly puts total 2026 demand down 18% to 7.09 million ounces as 2025's ETF and exchange stock buying reverses into net disinvestment, even as industrial demand is forecast up 5% to about 2.39 million ounces on AI-driven glass, chemical and electrical uses. Jewellery fabrication is forecast down 15% to 1.88 million ounces and automotive down 4% to 2.90 million ounces. China has earmarked close to $300 billion for AI infrastructure to 2030 and US private AI buildout is running near $500 billion a year, both named by WPIC as new platinum demand drivers, while South Africa still supplies about 70% of global output.
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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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