The Drill Down
Wednesday 17 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
Russia Offers India Access to Major Rare Earth Deposit in Siberia
Russia has offered India access to its Tomtor deposit in Siberia, one of the world's largest undeveloped rare earth sources, with state miner IREL in talks with Rosneft over samples. India is chasing supply outside China, where it holds large reserves but no magnet industry.
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Our Take
Tomtor has the scale and heavy grades few deposits outside China can match. The catch is the ore gets processed in Russia first, trading one exposed supplier for another.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,331
+0.53%
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Silver
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$70
+0.07%
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Platinum
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$1,806
+2.04%
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Palladium
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$1,350
+0.83%
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Base Metals & Commodities
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Copper USD/t
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$14399.00
-0.01%
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Nickel USD/t
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$17924.00
+0.70%
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Zinc USD/t
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$3537.14
-0.52%
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Lead USD/t
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$1971.30
+0.72%
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WTI Crude USD/bbl
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$76.69
+0.84%
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Prices updated as of 17 June 2026, 8:03 am AEST
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Market Movers
Winners & Losers - Canadian Markets
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AnorTech Inc.
AnorTech entered a strategic share exchange with Nasdaq-listed Greenland Mines, which takes an initial 9.9% stake with an option to reach 19.9% within six months. The deal ties AnorTech's sustainable alumina and CO2-free cement technology to Greenland Mines' critical metals push in the region.
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Emperor Metals Inc.
Emperor Metals reported a standout high-grade gold intercept of 61.5 g/t over 15 metres, including visible gold, at its Duquesne West project in Quebec's Abitibi. The hit lands within the conceptual main pit as Emperor pushes toward a multi-million-ounce bulk-tonnage resource.
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First Mining Gold Corp.
First Mining Gold won conditional authorization for its Springpole gold project from the Cat Lake and Lac Seul First Nations after a four-year Anishinaabe-led impact assessment, and committed up to $4 million toward an all-season access road. The dual milestone materially de-risks a key permitting hurdle, sending the stock up sharply.
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Antimony Resources Corp.
Antimony Resources reported more high-grade antimony from Bald Hill, with stibnite core running up to 36.0% Sb in the Main Zone. The stock fell despite the result, reading as profit-taking after a long slide from its April highs on grades in line with prior hits.
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Pulsar Helium Inc.
Pulsar Helium gave a technical update on its Topaz helium project in Minnesota, confirming all seven exploration wells drilled and an expanded, mostly low-royalty land position. The stock eased on the consolidation update, with no fresh flow-test results yet.
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Big Ridge Gold Corp.
Big Ridge Gold kicked off its 2026 drill program at the Hope Brook gold project in Newfoundland, targeting the 240 and Main Zones plus geotechnical work toward a PEA. The stock slipped on the routine start, reading as profit-taking after its pullback from April highs.
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Market data as of 17 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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Bloomberg
Rare-Earth Startup Lines Up $500 Million in Pentagon Funding
Phoenix Tailings landed a conditional $500 million Pentagon loan to build a US rare earth processing plant, anchoring a $1 billion project. The Massachusetts refiner, backed by BMW and Sumitomo, targets production by 2028.
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Our Take
Washington is funding the midstream gap, where China's grip is tightest. The 2028 start is the catch, money now does not move supply for years.
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Fastmarkets
Natural Graphite Is Cheaper, Greener, More Supply Chain Resilient Alternative in Wake of Chinese Graphite Dominance
Westwater Resources told Fastmarkets that natural graphite is cheaper and greener than synthetic, and a more stable bet as buyers exit China. Chinese oversupply has dragged prices to parity, which it expects to reverse.
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Our Take
The structural case is real, but a producer talking its book mid price-war is not neutral. The thesis only pays once Chinese oversupply clears.
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Mining.com
Barclays Sees Gold Pullback as 'Reset', Keeps Bullish Outlook
Barclays called gold's recent selloff a "reset" driven by a stronger US dollar, equity inflows and crowded positions rather than weaker fundamentals. The bank kept its bullish long-term view, citing inflation, policy uncertainty and central bank buying.
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Our Take
Calling a drawdown a reset is what every bank says until the thesis breaks, but the structural drivers here are intact. The near-term risk is more position unwinding before central bank demand reasserts itself.
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The Northern Miner
Poland Bets on Copper Boom as Lumina Eyes New Mines
Poland could more than double its copper output through Lumina Metals' planned mines, with the stock up 19% on its Warsaw debut. Its flagship Nowa Sól is one of the world's largest undeveloped copper-silver deposits.
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Our Take
A Warsaw listing taps local capital for a project handing Europe its own large-scale copper. The KGHM offtake talks are the real tell.
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Australian Financial Review
Gina Rinehart's Hancock Axes Hundreds of Jobs in Iron Ore Shake-Up
Gina Rinehart's Hancock Prospecting has cut hundreds of jobs at its Pilbara operations to extend mine life and lower costs. The move comes amid broader pressure across Australia's iron ore sector.
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Our Take
Rinehart cutting hundreds of Pilbara jobs to extend mine life tells you everything. When Australia's richest person trims fat, iron ore margins are tighter than the majors admit.
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Mining.com
Carney Offers Italy Priority Access to Canada's Critical Minerals
Canada's PM Mark Carney offered Italy priority access to Canada's critical mineral reserves during G7 talks in France, deepening supply chain, defence and energy ties. The deal builds on Eni's recent graphite investment and Italy joining the Critical Minerals Production Alliance.
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Our Take
Priority access is Canada turning its mineral endowment into diplomatic currency with allies hunting supply outside China. Bundling it with the Leonardo jet deal shows minerals now trade as part of a wider security package.
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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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