The Drill Down
Monday 29 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
Lithium Producers Bet on Battery Storage as Demand Shifts Beyond EVs
Leading lithium producers told an industry conference that booming battery storage demand, driven by AI data centres and grid build-outs, is offsetting a slowdown in some EV markets and reshaping the recovery outlook. Fastmarkets said the period of market overcorrection is over, with storage demand growing around 40% a year. Rio Tinto and Albemarle both pointed to grid storage as a steadier and more evenly distributed demand driver than lumpy EV sales.
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Our Take
Storage demand decoupling lithium from the EV cycle changes the bull case. For ASX juniors, exposure to grid-scale offtake now matters as much as auto-sector contracts.
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Commodity Prices
Precious Metals (USD/toz)
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Gold
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$4,050
-0.95%
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Silver
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$58
-1.57%
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Platinum
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$1,610
-0.31%
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Palladium
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$1,211
+0.41%
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Base Metals & Commodities
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Copper USD/t
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$13656.92
-0.05%
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Nickel USD/t
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$16776.00
-0.38%
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Zinc USD/t
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$3493.04
-0.30%
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Lead USD/t
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$1902.30
+0.51%
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WTI Crude USD/bbl
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$69.58
+0.51%
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Prices updated as of 29 June 2026, 3:48 pm AEST
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Market Movers
Winners & Losers - ASX Markets
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Canadian Phosphate Limited
No specific catalyst identified. The rock phosphate developer, advancing its Wapiti and Fernie projects in British Columbia alongside the recently acquired Diamond Mountain project in Utah, bounced back after being sold down late last week.
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Iondrive Limited
Iondrive ran after securing a Letter of Support from the Oklahoma Department of Commerce for its first rare earth recycling module, with legislated incentives estimated at up to US$5.2 million for that module and scalable beyond US$15 million across three. The move marks the commercial roll-out of its IONSolv recovery platform into the US critical minerals build-out.
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Benz Mining Corp
Benz ran on results from its 2026 Icon drill program at the 100%-owned Glenburgh gold project in WA, headlined by 27m at 15.33 g/t Au from 229m in hole 26CN029, a step-out that opens a new high-grade position along the Icon-Apollo trend. The hits continue to validate the wireframes behind the recently released Glenburgh Exploration Target as Benz drives toward a maiden resource.
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KGL Resources Limited
KGL completed the bookbuild for its ~A$180 million conditional placement, part of a A$300 million raise to fully fund the Jervois Copper Project, priced at A$0.20 for a 25.2% discount to the last close. The stock reset toward the offer price as the scale of the dilution landed.
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Strategic Energy Resources Limited
Strategic Energy Resources raised $1.5 million at $0.12, a 17.2% discount to the last close, to underpin drilling at its Diamantina Copper-Gold Project in Queensland. The discounted placement and SPP drove the pullback.
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Sunstone Metals Limited
Sunstone raised $10 million at $0.175, a 14.6% discount to the last close, with DGR Global stepping in as a 10% cornerstone investor. The dilution drove the fall despite the strategic backing, with funds directed to its Bramaderos and El Palmar gold-copper projects in Ecuador.
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Market data as of 29 June 2026, 4:10 PM AEST
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This Week's Poll
Six Months From Now, Which Commodity Will Have Surprised the Most to the Upside?
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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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Evion Group
Exploration to Commence at Carp Fluorspar Project
Evion has defined a staged exploration programme at its Carp Fluorspar Project in Lincoln County, Nevada, with a magnetic survey and surface sampling now underway and a clear path toward drill targeting across the 493-hectare position. It is the first modern, integrated exploration of the high-grade carbonate-replacement system since the 1970s, where 2024 rock chip sampling confirmed grades up to 88.15% CaF2 across all four historic pits. The United States imports 100% of its fluorspar and recently awarded a US$168.9 million Defense Logistics Agency supply contract.
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Our Take
Fluorspar is the rare critical mineral with zero US production and a full import bill. A high-grade domestic system advancing toward drilling is what the Pentagon is contracting to secure.
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Bloomberg
Congo in Talks With Private Trainers for Guard to Protect Mines
The Democratic Republic of Congo is in talks with a private company to train more than 20,000 armed guards to protect its mines, a force that would eventually replace the police and soldiers now stationed at mining and processing sites. The guards would secure large-scale operations, formalise artisanal workings and tighten export traceability, with the $100 million programme tied to funding partnerships with the US and UAE. The US State Department said it is not involved and has no plans to fund the force.
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Our Take
A privatised guard replacing soldiers across Congo's mines reshapes the security and traceability risk on the world's cobalt supply. Watch how offtakers and ESG buyers price the change.
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Mysteel
China's New Energy Plan Sets Coal Consumption Peak, Reinforces Top Five Supply Bases
China's NDRC and NEA released the 15th Five-Year Plan for Building a New Energy System on 25 June, setting energy goals through 2030 under which coal consumption is expected to peak over the period. Even so, Beijing is reinforcing its five major coal supply bases to keep the fuel as a strategic safety reserve. The plan targets overall energy production capacity of 5.8 billion tonnes of standard coal equivalent and an initial clean, low-carbon, safe and efficient system by 2030.
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Our Take
A coal peak that still hardwires five supply bases as a reserve is managed decline, not exit. For thermal coal, the signal is a long, defended plateau, not a cliff.
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AFR
Queensland to Review Clean-Up Fees for Small Mining Explorers
The Crisafulli government will review how it charges mining companies for rehabilitation risk after industry complaints over costs. The review follows sustained pressure from the resources sector on rehabilitation charges.
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Our Take
A rehabilitation fee review directly improves the cost base for junior explorers in Queensland, freeing scarce capital for drilling rather than bonds. The policy signal matters most for sub-scale players whose project economics are sensitive to upfront compliance charges.
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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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