The Drill Down
Tuesday 1 September 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
Glencore Stands Between Anglo-Teck and $1.4B Copper Prize
Talks over neighbouring Chilean copper mines will determine how three mining majors divide billions in potential value, with roughly $1.4 billion at stake. The world's largest diversified miners are competing for greater exposure to copper, which is expected to face long-term supply constraints.
|
Our Take
Glencore holding the middle ground between two neighboring Chilean mines means $1.4B in synergies runs through them. They don't need to sell. They set the price.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,448
-0.15%
|
|
Silver
|
$67
+0.22%
|
|
Platinum
|
$1,794
-1.54%
|
|
Palladium
|
$1,361
-4.08%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$14749.82
+0.72%
|
|
Nickel USD/t
|
$16739.50
-0.61%
|
|
Zinc USD/t
|
$3870.68
+0.29%
|
|
Lead USD/t
|
$1896.60
-0.27%
|
|
WTI Crude USD/bbl
|
$86.23
-0.10%
|
|
Prices updated as of 1 Sept 2026, 8:03 am AEST
|
| |
Market Movers
Winners & Losers - Canadian Markets
|
Decade Resources Ltd.
The first hole of Decade's Phase I program at the Bonaparte copper-gold property, roughly 50 kilometres north of Kamloops, intersected porphyry-style mineralisation of chalcopyrite with occasional molybdenite, the first hole ever drilled to test beneath the high chargeability anomaly. DDH 1 passed from propylitic into potassic alteration and then into altered, mineralised feldspar porphyry from 557 metres to the 621.6 metre end of hole, with mineralisation open to depth. Core sampling is under way with assays to follow from MSA Labs, and results from more than 750 soil and 30 rock samples collected in late July remain pending.
|
|
Centauri Minerals Inc.
Centauri began trading on the TSX Venture Exchange on Monday, following completion of the plan of arrangement under which Aldebaran Resources spun out 18,544,058 Centauri shares to its own holders. Ahead of closing, Centauri converted $25,486,000 of subscription receipts into 25,486,000 shares on a one-for-one basis. The Rio Grande gold-copper-silver project in northern Argentina stands as the qualifying property under TSXV policy.
|
|
NSJ Gold Corp.
No specific catalyst identified, with momentum across the antimony and gold explorers the likely driver on 137,500 shares against a 21,311 average. The most recent work at the Antimony 2.0 property in New Brunswick is a 258 line kilometre high-resolution aeromagnetic survey completed by Terraquest and announced on 26 August, flown to map the structures controlling antimony distribution across the ground. NSJ closed the first tranche of its financing on 14 August, raising $1,065,850 in flow-through and $511,500 in hard dollars, both at $0.30 a share.
|
|
|
|
Coast Copper Corp.
Coast Copper agreed to buy a mineral tenure on trend with its wholly owned Copper Kettle property on northern Vancouver Island and adjacent to BHP's Island Copper mining lease, for 300,000 shares at a deemed $0.345 and no cash or exploration expenditure commitment. The company also confirmed completed field work across its Anyox, Toodoggone and Knob Hill NW ground, with further programs planned on the Sully, Rock Canyon South, Rock Candy North and Scottie West properties. Positive news met heavy selling, consistent with profit taking after the August run that carried the stock to a $0.375 fifty-two week high.
|
|
Scotia Metals Corp.
No announcement on the day, with the full 200,100 shares crossing at a single $0.40 price against a 14,944 average volume, consistent with one block clearing rather than a reaction to news. Scotia Metals resumed trading on the CSE on 4 August under its new name after completing the business combination with Scotia Lithium, leaving 45,353,041 shares on issue. Its most recent release, on 17 August, covered investor relations mandates with Capital Analytica for C$150,000 over six months and Vectis Capital for US$50,000 over three months, both subject to CSE acceptance, behind the Acadia lithium project in western Nova Scotia.
|
|
Market data as of 1 September 2026, 9:30 AM AEST
|
| |
| |
|
Presented By
|
| |
|
| |
|
Sierra Nevada Gold
|
| |
|
ASX: SNX
|
| |
|
| |
|
Emerging Saudi Arabian Developer & Explorer
|
| |
|
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.
|
| |
|
Find Out More
|
| |
|
| |
|
In-Country Operating Subsidiary
|
| |
|
| |
|
|
| |
| |
|
Today's Stories
|
Northern Miner
Rio's Barton Joins Carney's $1T Investment Drive
Prime Minister Mark Carney has appointed Rio Tinto chair Dominic Barton to lead the board of Invest in Canada, with MEM Growth Partners founder Gurinder Grewal as chief executive, as Ottawa widens the agency's role in critical minerals, energy and major infrastructure. The government is targeting $1 trillion, about US$720 billion, in public, private and institutional investment over five years, backed by roughly $280 billion of its own capital and incentives. Barton serves part-time for three years and Grewal full-time for five.
|
Our Take
Barton chaired Teck before Rio, and he now becomes the front door for foreign capital into Canadian ground at the exact moment Teck is being absorbed into a London-listed major. Ottawa's answer to losing head offices is to own the introduction instead of the asset, and the measure of it will be how many of the $1 trillion in stated intentions clear provincial permitting and First Nations consent.
|
|
Mining.com
Chile's Copper Output Declines 9.4% in July Hit by Severe Weather
Chilean copper output fell 9.4% year on year in July to 403,424 tonnes from 445,322 tonnes, statistics agency INE said on Monday. The agency attributed the drop to unfavourable weather in the north of the country that disrupted normal production, alongside maintenance at major sites. Manufacturing production fell 4.9% over the month, a steeper decline than June's 3.2%.
|
Our Take
Just under 42,000 tonnes went missing in a single month, close to a quarter of the annual output the Collahuasi conveyor is being designed to add from 2030. Weather and maintenance are recoverable, and the repeated pattern of Chilean supply landing under expectation is now doing more for the copper price than any demand forecast.
|
|
The Guardian
The Guardian View on Rare Earths: It's Common Sense to Secure Essential Supply Chains
The editorial dates the warning to 2010, when China halted rare earth exports to Japan over a territorial dispute, and notes China still accounts for roughly 70% of global mining and 90% of separation and processing. It sets the scale of the response against the size of the market, worth less than US$6 billion globally last year, citing the US$12 billion American critical minerals reserve announced in February and a 54-member critical minerals coalition including Australia, the European Commission and the UK. It argues US material is still flowing to Asia for want of domestic demand, and that any diversification plan has to build in predictable demand and pricing to work.
|
Our Take
A market that clears under US$6 billion a year cannot fund an alternative supply chain out of its own revenue, which is why every intervention that has actually moved has come off a government balance sheet rather than out of a customer contract. Nothing in a 54-member coalition obliges a single Western magnet buyer to pay above the Chinese price, and until one does, the demand certainty the editorial calls for stays a policy aspiration.
|
|
Channel News Asia
Indonesia Wants More Sway Over Commodity Prices, Here's How Its New Exchange Can Win Over Market
President Prabowo Subianto has established the Strategic Mineral and Commodity Exchange, targeted to begin trading on 1 January 2027 in palm oil, nickel, tin, coal and coffee, with the stated aim of setting Indonesian reference prices rather than importing them from offshore markets. The Financial Services Authority will supervise the bourse and on 19 August appointed Henry Rialdi as the deputy commissioner responsible for its regulation and oversight. Analysts note that dominance in physical supply has not historically translated into pricing power, and that Bursa Malaysia's crude palm oil futures contract remains the industry reference.
|
Our Take
A benchmark only works if foreign traders will clear risk on it, and the same exchange is being built to tighten Jakarta's oversight of export volumes and tax collection, which is precisely the feature that keeps those traders on the LME. For nickel the leverage Indonesia already holds is supply share, and a domestic screen adds nothing to that until offshore participants are willing to hedge on it.
|
|
Company Release
Avanti Gold Announces Upsize of Bought Deal Private Placement to C$45 Million
Avanti Gold has lifted its bought deal private placement from C$35 million to C$45 million and closed an oversubscribed book, selling 90,000,000 units at C$0.50 for one common share and half a warrant exercisable at C$0.65 over 36 months. SCP Resource Finance is sole bookrunner, with a 15% option that would take gross proceeds to C$51.75 million, and closing is expected on or about 22 September. Proceeds fund a 42,000 metre 2026 drill program across the Misisi permit area in the Democratic Republic of the Congo and a maiden preliminary economic assessment.
|
Our Take
A book lifted C$10 million inside a day says the DRC discount has narrowed a long way at this gold price. Avanti now carries the full 42,000 metres and the maiden PEA off a single raise, so the next equity conversation happens against a study rather than against drill holes.
|
|
|
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.
|
|
