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The Drill Down - Part 2
The Drill Down
Friday 10 April 2026 · Part 2
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Lead Insight
G Mining Ventures Acquires G2 Goldfields to Build Tier-One Gold Hub in Guyana
G Mining Ventures has entered a definitive agreement to acquire G2 Goldfields in an all-stock transaction valued at approximately C$3 billion. The deal consolidates two adjacent projects in Guyana, GMIN's fully permitted Oko West and G2's Oko-Ghanie, into a single district-scale operation targeting more than 500,000 ounces of annual gold production and over C$1 billion in synergies from shared infrastructure and permitting.
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Our Take
Guyana is quietly becoming one of the most compelling gold jurisdictions in the Americas. Consolidating adjacent deposits at a 72% premium signals conviction — GMIN is building a genuinely scalable operation while others are still talking about it.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,759
-0.16%
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Silver
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$76
+0.57%
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Platinum
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$2,068
-1.63%
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Palladium
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$1,563
+1.08%
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Base Metals & Commodities
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Copper USD/lb
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$5.84
+0.72%
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Nickel USD/lb
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$7.81
-0.12%
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Zinc USD/lb
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$1.50
+0.10%
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Lead USD/lb
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$0.87
+0.20%
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WTI Crude USD/bbl
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$99
+1.44%
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Prices updated as of 10 Apr 2026, 4:09 pm AEST
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Market Movers
Winners & Losers — ASX Markets
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Patriot Resources Limited
PAT surged 41.5% after securing a $500K placement and 24-month IR deal with Next Investors, signalling validation of its high-grade Tassa Silver Project in Peru.
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Jindalee Lithium Limited
Jindalee signed a binding business combination agreement to establish a Nasdaq-listed vehicle, US Elemental Inc., to hold its McDermitt Lithium Project assets, implying a pro forma enterprise value of approximately US$571 million.
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Invictus Energy Limited
IVZ rallied 27.3% after its EIA renewal was approved for the Cabora Bassa gas project in Zimbabwe, clearing the path for the high-impact Musuma-1 drilling campaign and imminent PPSA execution.
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Beetaloo Energy Australia Limited
Fell sharply as the US-Iran ceasefire crashed oil prices, erasing the war premium that had driven BTL higher. The company is approaching pilot gas production at its Carpentaria project in the Northern Territory but near-term sentiment remains tied to energy prices.
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Kinetiko Energy Ltd
Retreated alongside the broader energy selloff. Kinetiko is a coal bed methane explorer focused on South Africa's Amersfoort gas project and is sensitive to energy price sentiment despite no direct oil exposure.
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Conrad Asia Energy Ltd
Declined as the energy sector sold off on ceasefire news. No specific company announcement identified — move consistent with the broader oil-linked energy selldown across the ASX.
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Market data as of 10 Apr 2026, 4:10 pm AEST
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This Week's Poll
What's the biggest barrier to funding junior explorers right now?
Click your answer to vote. Results shared next edition.
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Today's Stories
ASX Mining & Resources
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Reuters
Argentina Passes Mining Reform to Spur Investment Near Glaciers
Argentina has approved legislation to reform its glacial protection laws, opening new areas for mining and hydrocarbon exploration in periglacial zones. The reform is designed to attract foreign investment while sparking environmental concerns.
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Our Take
Argentina desperately needs mining dollars, but ESG funds will likely blacklist companies operating in these zones. Expect a two-tier market where only non-ESG capital participates.
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Australian Financial Review
Fortescue Ramps Up Stoush With Big Miners Over Emissions Policy
Fortescue CEO Dino Otranto labelled the mining lobby's push to delay the Albanese government's industrial emissions reduction policy as ridiculous and disappointing. Fortescue simultaneously announced it would fast-track renewable energy projects to decarbonise its Pilbara operations, framing the move as both a cost-saving measure and a hedge against exposure to energy markets disrupted by the Middle East crisis.
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Our Take
Fortescue is using the Iran energy shock as validation of its decarbonisation thesis. When oil volatility becomes a balance sheet risk, the argument for grid independence writes itself. The lobby groups delaying emissions policy are fighting a rearguard action.
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Mining.com
US Lithium Miner to Go Public Following $571M SPAC Deal
A company holding one of the largest US lithium resources is set to list on the Nasdaq following a $571 million merger with a special purpose acquisition company.
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Our Take
Another lithium play hitting public markets just as prices stabilize suggests smart money sees the EV downturn as temporary. Domestic US lithium remains strategically valuable regardless of current price weakness.
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ABC News
Nathan River Resources Stands Down Workers Without Pay, Blames Fuel Crisis
More than 40 workers at Nathan River Resources' remote Roper Bar iron ore mine in the Northern Territory have been stood down without pay, with the company citing the fuel crisis disrupting operations. The Electrical Trades Union disputed the explanation, saying workers had gone four weeks without wages, superannuation payments were hundreds of thousands of dollars in arrears, and 27 redundancies had not been correctly paid.
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Our Take
The fuel crisis is giving undercapitalised operators a convenient excuse. Unpaid wages, missed superannuation, and short-changed redundancies point to pre-existing financial distress, not a supply shock. Workers bear the cost either way.
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Financial Times
Canada Growth Fund Announces US$82 Million Investment to Support Graphite Mining
The Canada Growth Fund has announced a US$82 million investment to support graphite mining operations. The Matawinie Mine is expected to become the largest graphite mining operation in the region.
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Our Take
Government backing for critical minerals continues as Western nations scramble to secure non-Chinese supply chains. Graphite's strategic value justifies public investment where private capital remains cautious.
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Upcoming Events
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Annual Geoscience Exploration Seminar (AGES) 2026
14-15 Apr 2026 · Alice Springs Convention Centre
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Resourcing Tomorrow Hong Kong
16-17 Apr 2026 · Four Seasons Hotel, Hong Kong
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Sydney Resources Round-up
5-7 May 2026 · Hyatt Regency, Sydney
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Sydney Mining Club
6 May 2026 · Leading Edge · Hinchcliff House, Sydney
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121 Mining Investment
11-12 May 2026 · London
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Gold Coast Investment Showcase
11-12 Jun 2026 · Gold Coast
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RIU Resources Investor Roadshow
25 Aug 2026 · Melbourne
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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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