The Drill Down
Thursday 11 June 2026 · Part 2
|
| |
Presented By
|
ASX: KAO
|
Namibia's Copper Belt.
Ready to Drill.
|
|
|
69.6%
Peak Cu Grade
|
40km
Mineralised Trend
|
89%
Cu Recovery
|
|
|
Two fully permitted copper projects in Namibia, an emerging exploration jurisdiction on the radar of global miners. The Chalkos Project carries peak surface grades of 69.6% Cu and 2,030 g/t Ag across a 40km mineralised trend. Drilling commences soon.
Discover Kaoko
|
|
|
| |
| |
Lead Insight
Queensland Commits Record $3.2 Billion to CopperString Transmission Project
Queensland has committed a record $3.2 billion to the CopperString transmission project, connecting the state's northwest mineral province to the national grid. The investment is designed to unlock copper and critical minerals development across a resource-rich region that has long been constrained by a lack of grid access.
|
Our Take
CopperString isn't just transmission infrastructure. It's a stranded orebody unlocking event. The northwest Queensland copper belt has been waiting decades for this. Watch the project pipeline accelerate fast.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,099
+0.66%
|
|
Silver
|
$64
+1.21%
|
|
Platinum
|
$1,674
+0.73%
|
|
Palladium
|
$1,251
+3.12%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$13832.41
+0.51%
|
|
Nickel USD/t
|
$17713.00
-1.47%
|
|
Zinc USD/t
|
$3455.69
+0.49%
|
|
Lead USD/t
|
$1970.80
+0.98%
|
|
WTI Crude USD/bbl
|
$90.60
+0.63%
|
|
Prices updated as of 11 June 2026, 3:48 pm AEST
|
| |
|
Find this useful?
The Drill Down is free to read. If it earns a spot in your inbox, you can support us here.
|
|
| |
Market Movers
Winners & Losers - ASX Markets
|
Meteoric Resources NL
Meteoric reported that its Caldeira Pilot Plant in Minas Gerais, Brazil delivered MREO recoveries of 80% in May, ahead of the PFS estimate, with average recoveries of 71% across the first five months of operation. Over 200 kilograms of mixed rare earth carbonate has been produced and distributed to offtake partners including Neo Performance Materials, Ucore and MTM in the US and Europe for product qualification. Plant availability has consistently tracked at 95% and impurity levels have fallen below 2%, with water and ammonium sulphate recovery both meeting targets. The results underpin the DFS currently in progress.
|
|
AusQuest Limited
AusQuest commenced a 10 to 15-hole RC drilling program at its Coober Pedy Iron Oxide Copper Gold Project in South Australia, targeting magnetic, gravity and IP anomalies at the northern end of the Olympic Dam IOCG Province. The project sits 10km from Coober Pedy town, with previous drilling by Vale confirming strong potassic alteration beneath an 80m cover sequence at depths of 250m to 500m. The program is carried under a Strategic Alliance Agreement with a wholly-owned subsidiary of South32, with assays expected approximately four weeks after drilling completion.
|
|
Core Lithium Ltd
Core Lithium announced plans to spin out certain Northern Territory and South Australian gold exploration assets into a new company, Axiant Resources Limited, via an IPO targeting a July or August 2026 ASX listing. Core will retain all lithium rights across the tenements and a significant shareholding in Axiant. Separately, long-serving Chair Greg English will retire on June 30, 2026, with non-executive director Malcolm McComas appointed as successor. Core recommenced open-pit mining at its Finniss Lithium Operation in May 2026, backed by a $307 million funding package announced in March.
|
|
|
|
Larvotto Resources Limited
No specific catalyst today. Larvotto is developing the Hillgrove Antimony-Gold Project in NSW, which is expected to become Australia's largest antimony producer and deliver approximately 7% of global supply when operating. The project entered commissioning in August 2026, backed by a US$105 million senior secured bond issue and A$60 million equity raise. A gold concentrate offtake with Glencore was executed in June 2026, complementing an existing antimony agreement with Wogen Resources. Today's softness follows a period of significant capital deployment and likely reflects post-raise consolidation.
|
|
Flagship Minerals Limited
No specific catalyst today. Flagship is advancing its 2.1Moz Isidora Gold Project in Chile's Maricunga Gold Belt, having completed a JORC mineral resource estimate in May 2026 and raised A$2.75 million via a strategic placement to fund feasibility and drilling activities. The company also holds the Rosario Copper Project near Codelco's El Salvador mine, with maiden drilling planned for H2 2026. Today's decline reflects broader sector selling pressure on small-cap gold names.
|
|
GBM Resources Limited
No specific catalyst today. GBM is a Queensland-focused gold and copper explorer with a portfolio of district-scale projects in the Drummond Basin, including the Twin Hills, Yandan and Mount Coolon gold projects covering over 2,600 square kilometres of tenement. The company reported positive drilling results at Mount Coolon in April 2026. Today's move appears to reflect broad selling pressure on micro-cap gold names with no fresh company announcement.
|
|
Market data as of 11 June 2026, 4:10 PM AEST
|
| |
This Week's Poll
Is the US critical minerals policy push creating real opportunities or just noise?
|
○ Real, investable opportunities
|
|
|
○ Some signal, mostly noise
|
|
|
|
|
○ Irrelevant to my portfolio
|
|
|
| |
Presented By
|
Enabling fractional mining royalty investment
|
|
| |
|
Today's Stories
|
Bloomberg
Key Military Mineral Stores Depleted by Iran War, US Mining Chiefs Warn
The chairman and CEO of Americas Gold and Silver and the CEO of US Antimony have told Bloomberg that the conflict with Iran has depleted key US military mineral stores. The executives are calling for urgent action to rebuild domestic critical minerals supply chains, pointing to strategic vulnerabilities exposed by the war.
|
Our Take
When named CEOs go on Bloomberg to say stockpiles are depleted, the political pressure for emergency procurement and permitting fast-tracks intensifies quickly. Domestic antimony and specialty metals producers are the clearest near-term beneficiaries.
|
|
Australian Mining
Two Major Australian Growth Projects Approved Under Develop Global Funding Agreement
Develop Global has received approval for two major Australian growth projects under its funding agreement with Trafigura, advancing its domestic mining pipeline. The company flagged that additional support could come from ongoing production at its Woodlawn operation and its mining services division.
|
Our Take
A Trafigura-backed funding structure with a built-in services revenue buffer is a credible de-risking setup for investors. The dual project approval signals Trafigura's continued confidence in Develop's execution capacity.
|
|
Mining.com
Metals Retreat Amid Iran Conflict and Lingering Rate-Hike Concerns
Metals prices declined across the board as unresolved Middle East tensions kept traders alert to the possibility of higher interest rates. The broad retreat reflects ongoing uncertainty over the Iran conflict and its implications for global commodity markets and supply chains.
|
Our Take
A simultaneous geopolitical risk premium and rate-hike fear is an unusual combination that compresses valuations across base and precious metals. Investors should watch whether gold decouples from the broader selloff, as it has during previous conflict-driven episodes.
|
|
Financial Post
Ghana's Booming Mining Sector Propels Faster Economic Growth
Ghana's mining sector is driving faster national economic growth, with higher output contributing to improved macroeconomic performance. The expansion is underpinned by elevated gold prices and increased production across the country's key mining operations.
|
Our Take
A mining sector that is visibly lifting national GDP tends to attract more supportive government policy, at least in the near term. For operators in Ghana, the current environment may offer a window to advance permitting and expansion plans before fiscal appetites shift.
|
|
| |
|
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.
|
