The Drill Down
Tuesday 16 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
Gina Rinehart Takes US$1 Billion Stake in SpaceX IPO
Gina Rinehart, Australia's wealthiest person and a mining magnate, has taken a stake of more than US$1 billion in Elon Musk's SpaceX IPO, according to a Wall Street Journal report. SpaceX shares soared almost 20% last week.
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Our Take
A US$1 billion cheque into SpaceX is Rinehart steering mining cashflow into a frontier asset well outside her resource base. The bet is that private space and satellite infrastructure compound faster than the next iron ore cycle, and Hancock has the balance sheet to sit on it.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,309
+2.12%
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Silver
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$70
+2.90%
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Platinum
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$1,772
+3.19%
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Palladium
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$1,339
+4.21%
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Base Metals & Commodities
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Copper USD/t
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$14417.89
+0.28%
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Nickel USD/t
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$17800.00
+0.17%
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Zinc USD/t
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$3555.64
-0.55%
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Lead USD/t
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$1957.30
+0.05%
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WTI Crude USD/bbl
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$81.36
+0.76%
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Prices updated as of 16 June 2026, 8:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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Lighthouse Gold Inc.
Lighthouse Gold signed a binding LOI to acquire the Mariwa-Sardine Hill gold property in Guyana's emerging Oko gold district. The ground sits in the same belt as G Mining's Oko West and G2 Goldfields' multi-million-ounce deposits, the focus of an active Guiana Shield gold rush.
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Forsys Metals Corp.
Forsys Metals announced a leadership overhaul, appointing uranium industry veteran John Borshoff as incoming CEO and President with a mandate to build the company into a global uranium enterprise. Borshoff takes the role after the 31 July shareholder meeting and acts as interim President until then, with strategic M&A flagged as part of the new plan. The move positions Forsys to capitalise on tightening uranium supply and rising nuclear demand.
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West Point Gold Corp.
West Point Gold climbed on insider buying, with recent SEDI filings lodged by company insiders including chairman Anthony Paterson. The TSX-V explorer is advancing its flagship Gold Chain project in Arizona toward a maiden resource this year, with the accumulation pointing to internal confidence ahead of those milestones.
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Targa Exploration Corp.
Targa Exploration retracted earlier drill core observations at its El Zanjon gold-silver project in Argentina, with its new exploration VP concluding the visible gold and electrum reported in hole EZD0001 had been misidentified. The correction unwinds a key catalyst behind the stock's recent run, and the sell-down extended sharply today. Assay results from the first two holes remain pending.
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Stardust Metal Corp.
Stardust Metal announced the acquisition of 1.5% royalties over both its Kirkland West and Omega gold projects on Ontario's Cadillac Break. The pullback follows a steep run-up through June, with today's move reading as profit-taking rather than a negative reaction to the deal. Stardust's ground sits alongside majors including Agnico Eagle and Barrick in the Kirkland Lake camp.
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NVRO Metals Limited
NVRO Metals signed a non-binding Heads of Agreement with commodity trader Transamine for a proposed copper cathode offtake and financing package of up to US$25 million for its Northern Territory processing hub. The stock eased despite the news, reading as profit-taking after a strong June run on a deal that remains preliminary. The NVRO Metals Hub targets copper cathode plus a cobalt and nickel intermediate using the company's proprietary process.
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Market data as of 16 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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AFR
Aussie Lithium Know-How Helps Europe Gain Ground on China
Australian lithium expertise is underpinning Europe's push to cut reliance on China, anchored by a $3.9 billion lithium project that marks Australia's biggest investment in European manufacturing.
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Our Take
This is technology and capital export rather than raw tonnes, a higher-margin position in the battery supply chain. European downstream demand for de-risked supply could reward Australian players willing to move beyond the mine gate.
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Mining.com
Trump's Critical Minerals Pricing Plan Faces Skeptical G7, Divided Industry
President Trump's critical minerals pricing plan is meeting skepticism from G7 nations and a divided mining industry. The proposal faces challenges securing alignment among allies and producers.
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Our Take
Price floors could underwrite Western project economics, but without G7 buy-in the policy risks becoming noise rather than a bankable signal. Investors should treat any pricing support as upside optionality, not a base case.
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Mining.com
Singapore to Launch Gold Clearing With JPMorgan and Other Banks
The Singapore Exchange will establish an over-the-counter gold clearing mechanism by the end of 2026 alongside JPMorgan and other banks, with inter-bank trading expected to build from there.
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Our Take
A new Asian clearing hub chips at London and New York's grip on gold price discovery, adding liquidity closer to physical demand. Long term this could deepen the market and tighten spreads for regional producers and refiners.
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Australian Mining
WA Positioned as Gallium Powerhouse in Sovereign Supply Push
Western Australia holds the potential to become a significant gallium producer as part of a sovereign critical minerals supply push.
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Our Take
With China controlling the bulk of gallium supply and wielding export curbs, a WA source would command strategic premiums from Western buyers. Early movers with byproduct gallium economics stand to benefit if government backing materialises.
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Fastmarkets
Fastmarkets to Implement Specification Changes to Align Global Suite of Lithium Prices
Fastmarkets will implement methodology and specification changes across its global suite of battery-grade lithium carbonate and hydroxide price assessments, effective 1 September 2026. The updates align quality, payment, quantity and delivery terms with observed trading practices and harmonise its regional prices with the benchmark China, Japan and Korea assessments.
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Our Take
Benchmark methodology is the plumbing of the lithium market, and tighter, better-aligned specs make the published prices harder to game and easier to write contracts against. For producers and offtakers, more consistent global references reduce basis risk just as the lithium price finds its feet again.
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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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