The Drill Down
Thursday 18 June 2026 · Part 2
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Presented By
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ASX: KAO
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Namibia's Copper Belt.
Ready to Drill.
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69.6%
Peak Cu Grade
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40km
Mineralised Trend
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89%
Cu Recovery
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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
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Lead Insight
Mining Magnate Latimore Wins Auction for Gupta's Prized Coal Business
Matt Latimore's M Resources, alongside partner Golden Energy and Resources, has won the auction for the Tahmoor coking coal mine in the NSW Illawarra, bought from liquidators McGrathNicol. The mine, previously held by Sanjeev Gupta's GFG Alliance, produces around 2 million tonnes a year of mostly metallurgical coal and supplies the Port Kembla Steelworks.
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Our Take
Latimore is methodically rolling up the Illawarra's metallurgical coal, adding Tahmoor to the IMC assets that already feed Port Kembla. Picking up distressed Gupta tonnes at auction is a counter-cyclical bet that coking coal stays central to steelmaking well beyond the current cycle.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,312
+1.30%
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Silver
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$69
+1.44%
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Platinum
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$1,756
+1.07%
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Palladium
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$1,330
+0.90%
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Base Metals & Commodities
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Copper USD/t
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$14202.32
+0.40%
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Nickel USD/t
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$18028.00
+0.58%
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Zinc USD/t
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$3571.69
-0.34%
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Lead USD/t
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$1968.30
-0.19%
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WTI Crude USD/bbl
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$74.84
-2.54%
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Prices updated as of 18 June 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - ASX Markets
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Red Metal Ltd.
Red Metal's column leach tests on its Sybella rare earth project near Mount Isa returned strong neodymium and praseodymium extractions of 70 to 78% using weak sulphuric acid at ambient temperature. The results validate a low-cost heap leach route and the company is fast-tracking a pre-feasibility study this calendar year.
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Cauldron Energy Ltd.
Cauldron's passive seismic survey extended the Manyingee North palaeochannel a further 6km north of its existing uranium deposit at the Yanrey project in WA, ahead of drilling later this month. The result builds the case for resource growth across a uranium system that already holds 55Mlbs across three deposits.
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Brazilian Critical Minerals Ltd.
No specific catalyst identified. Brazilian Critical Minerals is finalising a definitive feasibility study and permitting on its rare earth project, and the move looks like positioning ahead of that DFS as capital and M&A interest builds across Brazilian rare earth developers.
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Bougainville Copper Ltd.
Bougainville Copper continued to slide after the Autonomous Bougainville Government granted a large-scale mining lease over the same ground as its Exploration Licence 01 to a separate party. With its licence rights suspended and subordinated, the market is still repricing the threat to the company's core tenure.
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Geopacific Resources Ltd.
No specific catalyst identified. Geopacific eased on no company news, with the move consistent with profit-taking and light-volume selling rather than any announcement.
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Aura Energy Ltd.
Aura eased despite confirming the Swedish Parliament has declassified uranium mining as a nuclear facility, removing the need for municipal consent and easing the path to develop its 800Mlb Häggån deposit. The vote was held on 11 June, so the fall looks like a sell-the-news pullback after the stock had already run on the regulatory shift.
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Market data as of 18 June 2026, 4:10 PM 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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Presented By
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Enabling fractional mining royalty investment
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Today's Stories
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Mining.com
BHP to Sell $1.5 Billion Chile Power Lines in Copper-First Pivot
BHP plans to sell $1.5 billion of Chile power transmission line assets as part of a copper-focused strategy. The transaction would include the transmission lines feeding power to its Escondida, Spence and Cerro Colorado mines.
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Our Take
Selling the transmission lines feeding Escondida tells you BHP wants copper pounds, not infrastructure on the balance sheet. Smart. Owning power lines never dug an ounce of ore.
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Australian Mining
MCA Maps Mining-Led Future for Regional Victoria
The Minerals Council of Australia has outlined a vision for a mining-led future across regional Victoria. The plan focuses on driving investment and development in the state's resources sector.
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Our Take
MCA lobbying for a mining-led Victoria targets a state with historically restrictive resource policy, where the binding constraint is approvals, not geology. Until that advocacy translates into actual permitting reform, investors should treat this as a sentiment signal rather than a deployable opportunity.
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International Mining
UK Mining Conference Highlights Scale of Opportunity to Meet Rising Demand for Metals and Minerals
The seventh UK Mining Conference in Falmouth drew a record 610 attendees across 295 organisations, with explorers from Cornish Lithium to Northern Lithium and Anglo American showcasing the country's untapped cobalt, copper, lithium, tin and tungsten. Speakers stressed the gap between the UK's geological potential and the persistent difficulty of financing critical minerals projects domestically.
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Our Take
The binding constraint here is capital, not geology, with Cornish Lithium's Wrathall openly flagging how hard it is to fund UK projects. Until risk appetite shifts, the UK's mineral endowment stays a stranded opportunity rather than an investable one.
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Bloomberg
Copper Falls After Fed Chairman Warsh Positions as Inflation Hawk
Copper fell more than 1%, wiping out the week's gains, after new Fed Chair Kevin Warsh struck a hawkish tone at his first press conference and the FOMC's updated projections showed nine of eighteen members expecting a rate hike by year-end. Traders lifted September rate-hike odds to around 49% from 27%, firming the US dollar and pressuring industrial metals.
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Our Take
A hawkish Fed and firmer dollar are the near-term headwind here, weighing on copper even as the structural supply deficit underpinning the longer thesis stays intact. For copper developers, macro-driven pullbacks like this tend to be noise against a tightening physical market rather than a reason to reset the view.
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Bloomberg
Lithium Bulls Eye Demand Support as China Heads for Busy Season
Lithium has perked up over the past week as a busier Chinese buying season approaches, easing concerns about inventory levels and Australian mine restarts, with analysts pointing to energy storage and EV demand as support. Chinese lithium carbonate has recovered to around CNY169,000 a tonne off a near two-month low, though it remains well below the May high near CNY200,000.
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Our Take
The seasonal Chinese restock is real demand support, though the Bald Hill and Finniss restarts are the supply response that can cap how far this recovery runs. The question for lithium names is whether busy-season buying absorbs those returning tonnes or just stalls the price below the May high.
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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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