The Drill Down
Monday 15 June 2026 · Part 1
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Presented By
ASX: TM1
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Australia's Next Major PGM Discovery
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.
Explore the Discovery
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Lead Insight
Modi Wants Australia's Uranium to Power India's Data Centre Boom
India's growing AI and data centre sector is driving a surge in nuclear power demand, and Prime Minister Narendra Modi is expected to raise uranium supply with Australian leaders during a planned July visit. India's state-owned Nuclear Power Corporation plans to add 18 reactors by 2032, almost tripling the country's nuclear capacity. A material increase in Australian uranium exports would open a new demand source for local producers, following the May 2026 signing of the $20 billion Quad Critical Minerals Initiative.
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Our Take
AI power demand is becoming one of the strongest structural cases for uranium, and India tripling its reactor fleet hands Australian producers a buyer with scale and urgency. The WA ban debate looks increasingly out of step with where global demand is heading.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,282
+1.49%
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Silver
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$70
+2.76%
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Platinum
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$1,754
+2.16%
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Palladium
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$1,316
+2.40%
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Base Metals & Commodities
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Copper USD/t
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$14461.30
+0.58%
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Nickel USD/t
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$17770.00
+0.06%
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Zinc USD/t
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$3575.24
+2.24%
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Lead USD/t
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$1956.30
+0.64%
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WTI Crude USD/bbl
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$81.06
-4.50%
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Prices updated as of 15 June 2026, 9:22 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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Hannan Metals Ltd.
Hannan continues to run on its June 10 option to acquire up to 100% of three high-grade gold projects in Sweden: Stavaträsk, Skellefteå North and Ådelfors, covering 8,405 hectares. The flagship Stavaträsk project is fully permitted and drill-ready, with a rig mobilising mid-June for a program of up to 2,000m testing a direct analogue of Boliden, Europe's richest modern gold mine, 20km to the south on the same shear system.
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Arras Minerals Corp.
Arras continues to run on its drill result from the Berezski North porphyry target on its Elemes Project in northeast Kazakhstan, where hole EL26032 intersected 935.9m grading 0.71% CuEq from surface, including 214.9m at 1.42% CuEq from 162.1m depth. The result extends a trend now spanning 8.8km, drawing comparisons to Kaz Minerals' nearby Bozshakol mine.
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Condor Resources Inc.
No specific catalyst today. Condor is a precious and base metals explorer with a portfolio of projects across Peru, including gold-silver and copper targets. Today's decline came on notably elevated volume, pointing to broad-based selling pressure rather than any company announcement.
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First Atlantic Nickel & Cobalt Corp.
No specific catalyst today. First Atlantic continues to ease back after a strong run, with a week of building selling pressure on its Atlantic awaruite nickel project in Newfoundland. Today's move reflects continued profit taking rather than any fresh company announcement.
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Market data as of 15 June 2026, 9:30 AM AEST
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This Week's Poll
Does the Saudi Vision 2030 minerals push represent a genuine exploration opportunity for Australian juniors?
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○ Yes, strong sovereign mandate
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○ Possible but regulatory complexity is real
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Partner Spotlight
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The right shareholders don't find you. You find them.
Cashu Group delivers independent equity research and targeted investor marketing for ASX-listed resource companies. The coverage that builds conviction, and the reach to make it count.
Find Your Shareholders
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Today's Stories
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Mining.com
Triple Flag Buys Gold Stream on Ravenswood Mine for $440m
Triple Flag Precious Metals has acquired a gold stream over the Ravenswood mine in Queensland for an upfront $440 million, expected to add 100,000 ounces to its end-of-decade outlook. Ravenswood is one of Australia's ten largest gold mines by reserves, with over 4 million ounces of historical production, and is jointly owned by EMR Capital and Golden Energy and Resources. Triple Flag shares rose 4.5% on the news despite flat gold prices.
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Our Take
A 4.5% share rise on flat gold tells you the market likes the terms. Streaming into a long-life, low-risk Australian producer is exactly the kind of deal that rewards EMR and GEAR with non-dilutive capital while handing Triple Flag immediate cashflow.
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Bloomberg
China Maps Out Heavy-Truck Electrification Push With 40% Goal
China's Ministry of Transport has set a target for new-energy heavy-duty trucks to reach 40% market penetration by 2030, with a fleet exceeding 1.6 million vehicles and these trucks carrying 18% of highway freight. The plan, backed by 11 government agencies, includes 30,000km of zero-carbon freight corridors and around 3,000 charging and battery-swapping stations. New-energy heavy truck sales surged 182% in 2025 to 231,100 units, reaching a penetration rate of roughly 29%, with a record monthly high of 53.89% last December.
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Our Take
A 1.6 million electric truck fleet by 2030 is a direct demand signal for battery metals and a structural hit to diesel. For lithium, copper and the battery supply chain, China's freight electrification is one of the larger demand levers still building momentum.
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The Times of Central Asia
Kazakhstan Seeks More Than Extraction as US Minerals Interest Grows
Kazakhstan is using rising US interest in critical minerals to push beyond raw-material exports toward domestic processing and higher-value manufacturing, a theme dominant across the C5+1 Critical Minerals Dialogue and the Astana Mining and Metallurgy Congress this week. The country holds over 9,500 mineral deposits and proven reserves or production of roughly half the 54 minerals on the US critical list. US firm Cove Capital and Tau-Ken Samruk recently agreed to jointly develop two of the world's largest tungsten deposits.
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Our Take
Kazakhstan wants processing and technology, not just extraction, and Washington's drive to diversify away from China gives it leverage to demand exactly that. The test is whether high-level dialogue converts into bankable projects, and tungsten is where the early money is moving.
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United24 Media
Ukraine Hits Eastern Europe's Largest Titanium Plant in Crimea
Ukrainian Unmanned Systems Forces struck the Crimea Titan plant in occupied Armyansk overnight on June 13, describing it as Eastern Europe's largest titanium production facility and a key supplier to Russia's defence industry. The plant produces titanium dioxide used in stealth coatings for military equipment and sulfuric acid used in propellants and rocket fuel. Ukrainian forces confirmed damage, an ongoing fire and suspended production, while Russian-installed authorities called it an industrial accident.
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Our Take
Titanium feedstock sits at the intersection of defence supply and critical minerals, and taking a major processing facility offline tightens an already strained market. The strike is a reminder that the titanium supply chain carries geopolitical risk that Western buyers are still underpricing.
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Mining.com
Mining's Next Boom Is Off the Map: Arctic Ice, Abyssal Plains and Asteroids
Research firm BMI argues in a new report that over the next 25 years, mining will increasingly push north of the 60th parallel, kilometres below the ocean surface, and eventually into space. The drivers are maturing reserves, declining ore grades, and supply bottlenecks created by the energy transition and the trillion-dollar data centre build-out across materials from copper to specialty metals like indium phosphide and samarium-cobalt. The Arctic is already attracting capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.
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Our Take
The frontier narrative tends to distract from the near-term reality that conventional deposits onshore still carry the next two decades of supply. Arctic and seabed projects face real regulatory and cost walls, and investors should treat the timelines with healthy scepticism.
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Mining Technology
Orion CMC Considers Acquiring Stake in French Miner Eramet
Orion Critical Mineral Consortium, backed by the US and Abu Dhabi, is evaluating the purchase of the 37% stake in Eramet held by the Duval family, according to the Financial Times. Established in October 2025 with $1.8 billion to invest, Orion CMC aims to reduce Western reliance on China for lithium and rare earths. Eramet, partly owned by the French government and carrying a €1.4 billion market cap, operates nickel, lithium, manganese and mineral sands assets amid a deteriorated financial position and recent governance upheaval.
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Our Take
A US and Gulf-backed fund buying into a French government-linked miner is exactly the kind of allied capital consolidation the critical minerals push was built to enable. Eramet's financial distress makes it the test case for whether Western supply chains can be secured through ownership rather than offtake.
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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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