The Drill Down
Friday 7 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
Congo Bans Copper and Cobalt Concentrates Exports, Official Order Says
A 29 June order signed by three ministers states that the export of copper and cobalt concentrates is prohibited, effective immediately. A new tax regime on significant by-products carries a three-month transition. The mines minister may grant one-year waivers in strategic circumstances.
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Our Take
Ivanhoe says this prohibition has stood for a decade, softened by derogations. What changes is who gets one, and the mines minister decides that alone.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,240
-0.17%
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Silver
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$62
--
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Platinum
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$1,727
-0.35%
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Palladium
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$1,369
+0.50%
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Base Metals & Commodities
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Copper USD/t
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$14945.02
-0.44%
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Nickel USD/t
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$16690.50
-2.52%
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Zinc USD/t
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$3742.99
+0.57%
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Lead USD/t
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$1874.30
-0.31%
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WTI Crude USD/bbl
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$78.13
-0.19%
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Prices updated as of 7 Aug 2026, 8:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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NV Gold Corporation
NV Gold started a 5,000-metre RC program at its Slumber gold project in Humboldt County, Nevada, and leased 1,500 acres of private land sitting between its Awakening and Slumber target areas. The new ground could connect the two previously reported gold zones.
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BCM Resources Corporation
Hole TK20 at the Thompson Knolls project in Utah has cut over 550m of strongly mineralised porphyry and skarn and is still drilling at 1,238m. Assays are not yet reported. BCM will collar TK21 to twin a 2022 hole abandoned in mineralisation.
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Founders Metals Inc.
Hole FR249 at Upper Antino in Suriname returned 28.0m at 14.27g/t gold from 433.0m, a 50m down-dip extension of FR175. It is grade the company has typically seen only inside the Froyo core, now hit well outside it.
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Deep Sea Minerals Corp.
A third session lower since the Form F-10 registration filed with the SEC under the multijurisdictional disclosure system. That filing, alongside a final base shelf prospectus dated 28 July, opens the way to US offerings.
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Coeur Mining Inc.
Record revenue of $1.1 billion and GAAP net income of $122 million missed on the operational line. A $140 million non-cash purchase price allocation charge hit earnings, and 2026 guidance was cut to reflect lower prices and adjustments at New Afton and Rainy River.
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McEwen Inc.
Net income tripled to $9.6 million, or 16c a share. The market took the Nevada downgrade instead, with Gold Bar guidance cut to 30,000 to 33,000 GEOs from 39,000 to 43,000 and AISC lifted to $2,900 to $3,200 an ounce.
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Market data as of 7 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.com
UK Opens Applications for $34M Critical Minerals Fund
The £25 million Critical Minerals Accelerator will offer grants of £150,000 to £3 million to extraction, processing and recycling projects near commercialisation but needing to de-risk technology. Projects must reach commercialisation by March 2030. The scheme supports a target of meeting 30% of UK critical mineral needs domestically by 2035.
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Our Take
£3 million a grant is pilot-plant money against a 2035 target. Britain is funding the demonstration step and hoping private capital covers the rest.
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Mining Weekly
Albemarle Quarterly Profit Beats Expectations on Rising Lithium Prices
The world's largest battery lithium producer posted second-quarter net income of $480 million, or $3.52 a share, against $22.9 million a year earlier. Realised lithium prices rose 61% and volumes 11%. Adjusted earnings of $3.75 a share beat the $3.24 expected, and the stock added 1% after hours.
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Our Take
A 61% realised price rise on 11% more volume is what operating leverage looks like off a trough. The lithium recovery now has a printed number behind it.
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Investing News Network
Ivanhoe Mines Provides Clarification on the DRC Concentrate Export Ban
Ivanhoe says a ban on exporting unbeneficiated concentrate has been in place and enforced in the DRC for close to 10 years, with multiple derogations issued to Kamoa-Kakula since production began in 2021. Kamoa-Kakula concentrate is smelted on site or at the Lualaba Copper Smelter in Kolwezi, and Kipushi holds a derogation covering zinc concentrate exports.
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Our Take
Ivanhoe moved within hours to say it already smelts at home. Anyone still shipping concentrate without a derogation is the exposed party here.
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Mining Zimbabwe
Zimbabwe's Lithium Revenue Set to Hit US$3.2bn
Lithium Producers Association chairman Innocent Rukweza told Mine Entra in Bulawayo that turnover should reach about US$1 billion this year on Acadia's first battery-grade lithium sulphate exports, rising to US$3.2 billion once plants run at capacity from 2027. Ore exports generated US$60 million in 2022 and concentrates averaged US$580 million from 2023 to 2025. Producers have committed about US$3.4 billion to concentrators and sulphate plants.
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Our Take
60 million to 3.2 billion is the number every resource nationalist in Africa will now quote. Congo is watching this arithmetic closely.
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AFR
Regal, L1, WAM Caught Up in African Mining Licence Drama
Regal, L1 and WAM are exposed to the licence dispute surrounding Lindian Resources' Kangankunde rare earths project in Malawi. Newly appointed chief financial officer Derek Bideshi told Diggers and Dealers on Tuesday that Kangankunde ranks among the world's most significant undeveloped rare earth deposits and that Lindian is working with the government on Malawi's standing as a mining jurisdiction.
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Our Take
Three Australian funds now carry Malawian licence risk on their books. Wednesday's trading halt showed how quickly a parliamentary recommendation reprices a register.
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AFR
Trump Taps BHP and Rio Tinto to Fix Critical Minerals Gap
Senior executives from BHP and Rio Tinto will attend an industry roundtable with President Donald Trump as the White House pushes to secure critical minerals from domestic and international sources. Four sources say Trump and up to four cabinet secretaries are expected to host about 100 industry leaders at the State Department on Friday, Saturday AEST, though preparations remain fluid.
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Our Take
Four cabinet secretaries in one room signals procurement rather than consultation. Australian majors are being courted as part of America's domestic supply answer.
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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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