The Drill Down
Monday 10 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
Gold, Silver Prices Surge as US Economy Sheds 23,000 Jobs
Comex December gold rose 2.3% to $4,401 an ounce and September silver 3.6% to $63.85, both seven-week highs. US payrolls fell 23,000 in July against expectations of an 80,000 gain.
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Our Take
One payrolls print undid a summer of hawkish positioning. Gold is still 21% below January.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,342
+2.40%
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Silver
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$64
+3.40%
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Platinum
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$1,736
+0.78%
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Palladium
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$1,379
+0.75%
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Base Metals & Commodities
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Copper USD/t
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$14668.18
+0.07%
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Nickel USD/t
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$16935.50
+1.47%
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Zinc USD/t
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$3693.82
-1.31%
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Lead USD/t
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$1875.80
+0.08%
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WTI Crude USD/bbl
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$78.77
+2.19%
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Prices updated as of 10 Aug 2026, 8:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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Roscan Gold Corporation
No company announcement. Mali granted B2Gold the Menankoto exploitation permit on 7 August, completing the Fekola Regional package and lifting sentiment across Mali gold names.
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BCM Resources Corporation
Still running on the Thompson Knolls result in Utah, where hole TK20 cut over 550m of mineralised porphyry and skarn and was still drilling at 1,238m. Assays are not yet reported.
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LithiumBank Resources Corp.
A binding option over up to 160 acres at Sturgeon Lake, Alberta, the preferred site for a central direct lithium extraction facility at Boardwalk. The land carries highway access, a 138kV line and a gas pipeline.
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Lighthouse Gold Inc.
No specific catalyst identified. Volume of 239,390 came in well under the 423,080 average, pointing to profit taking after the July run.
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Arianne Phosphate Inc.
Lac à Paul was named among the first projects accepted into Québec's new Filon service, which coordinates ministries through the provincial permitting process. No funding attached.
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NEO Battery Materials Ltd.
The LIFE offering was cut to 20 million units at 20c for $4 million, from 25 million units at 24c for $6 million announced on 4 August. Closing is set for about 13 August.
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Market data as of 10 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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Mining Weekly
Chile's ENAMI Says China Antitrust Review of Rio Tinto Lithium Project Delayed
China's antitrust review of the ENAMI and Rio Tinto lithium tie-up has slipped by a few months, executive VP Juan Carlos Saez told lawmakers. The $3 billion Salares Altoandinos project targets first output in 2032.
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Our Take
Beijing sets the clock on a Chilean state lithium project. Approval risk sits offshore.
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Mining.com
Sunrise Energy Metals' Scandium Project Gets $400M Conditional Loan From US Department of War
The Office of Strategic Capital has committed a $400 million conditional loan to Sunrise Energy Metals for scandium at Syerston in New South Wales, with a right of first offer on output. No primary mine supply of scandium exists globally.
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Our Take
Washington is funding a supply chain that does not exist yet. Syerston has not broken ground.
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Industrial Info Resources
Argentina's Mining Exports Rose 74.4% to US$4.7 Billion Through June
First-half mining exports reached US$4.74 billion, up 74.4%. Gold contributed US$2.91 billion and lithium US$1.1 billion, the latter up 185% on a 68.2% rise in volumes. CAEM forecasts US$9.11 billion for the full year.
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Our Take
Volumes up 68% into a recovering price. Argentina is scaling exactly as the cycle turns.
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Bloomberg
Barrick Chairman's Planned Overhaul Meets Investor Backlash
Chairman John Thornton's plan to spin off Barrick's North American mines into an IPO is drawing opposition from Van Eck, Mackenzie and Franklin Equity Group. Mackenzie's Benoit Gervais has publicly called for Thornton to exit. Barrick has still not named a CEO or a domicile for the new company.
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Our Take
Holders are briefing against the fix before the fix has a chief executive. Monday's result becomes a referendum on Thornton.
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Nikkei Asia
China Rare-Earth Exports to Japan, US Plunge After Restrictions
Chinese exports of seven restricted rare earths fell roughly half to Japan and close to 30% to the US over January to June, on Nikkei analysis of customs data. Global exports of the same minerals fell 16%.
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Our Take
Japan is being priced differently to everyone else. Supply is a diplomatic instrument now.
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Resource Talks
The 12 Junior Mining Stocks That Moved This Week (And Why)
Antonio and I break down the best and worst performing TSX and ASX juniors for the week of 3 to 7 August, and the catalysts behind each move, in Resource Talks' weekly review.
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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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