The Drill Down
Tuesday 30 June 2026 · Part 1
|
| |
Presented By
ASX: TM1
|
| |
|
Building a world leading PGM asset - MST Access $1.05 valuation
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.
Download Full Report
|
|
| |
Lead Insight
Euroz Hartleys Sells Capital Markets Business to BMO
Euroz Hartleys has agreed to sell its Capital Markets business to BMO Financial Group for $145 million in cash, leaving the firm as a standalone pure-play private wealth business under the Euroz Hartleys and Entrust brands. Executives Andrew McKenzie and Tim Bunney are expected to move across with the Capital Markets unit, and a strategic alliance will preserve research and distribution links between the two sides. BMO framed the deal as cementing its position as the leading global metals and mining investment bank, with completion expected in the fourth quarter.
|
Our Take
BMO buying Euroz Hartleys' capital markets arm puts a global mining bank into ASX deal flow. Expect deeper balance sheets behind resource raisings and tougher competition for local brokers.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,017
-1.77%
|
|
Silver
|
$58
-1.47%
|
|
Platinum
|
$1,579
-2.22%
|
|
Palladium
|
$1,219
+1.00%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$13612.14
-0.38%
|
|
Nickel USD/t
|
$16332.00
-2.65%
|
|
Zinc USD/t
|
$3467.94
-1.01%
|
|
Lead USD/t
|
$1881.80
-0.57%
|
|
WTI Crude USD/bbl
|
$70.23
-0.73%
|
|
Prices updated as of 30 June 2026, 8:03 am AEST
|
| |
Market Movers
Winners & Losers - Canadian Markets
|
Leading Edge Materials Corp.
Leading Edge surged after the Swedish Government granted its wholly-owned subsidiary GREENNA Mineral a 25-year exploitation concession for the Norra Kärr project, clearing the path to what would be the EU's first heavy rare earth mine. The deposit is rich in dysprosium, terbium and yttrium, the magnet metals Europe currently imports entirely.
|
|
Mackay Gold & Silver Corp.
Mackay rallied as it mobilised the first rig and kicked off its inaugural 20,000-metre drill program at the 100%-owned Comstock District in Nevada. Phase 1 targets the underexplored Occidental-Brunswick Lode running parallel to the historic Comstock Lode, the first systematic modern drilling along the structure.
|
|
Errington Metals Corp.
Errington climbed after securing a combined $700,000 from the Government of Ontario, $500,000 from the Critical Minerals Innovation Fund and $200,000 from the Ontario Junior Exploration Program. The non-dilutive funding supports metallurgical and exploration work at its Sudbury Basin copper-zinc project.
|
|
|
|
NovaRed Mining Inc.
No specific catalyst identified. The copper-gold explorer, advancing its Wilmac project in BC's Quesnel porphyry belt alongside its MetalCore AI platform, kept retreating from recent highs as the run powered by a string of advisory board appointments unwinds.
|
|
FPX Nickel Corp.
No specific catalyst identified. The nickel developer, advancing its Baptiste project in BC's Decar district through environmental assessment, has drifted lower for two months as soft nickel sentiment continues to weigh on the stock.
|
|
Newcore Gold Ltd.
Newcore kept sliding since its 23 June pre-feasibility study for the Enchi Gold Project in Ghana, with the market still weighing the US$351 million upfront capital against otherwise robust economics. The continued selling reads as an extended sell-the-news.
|
|
Market data as of 30 June 2026, 9:30 AM AEST
|
| |
|
This Week's Poll
Six Months From Now, Which Commodity Will Have Surprised the Most to the Upside?
|
| |
|
Partner Spotlight
|
|
|
|
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
|
|
| |
|
Today's Stories
|
The Wall Street Journal
The Cutthroat Battle to Become America's Rare-Earth Champion
MP Materials, operator of California's Mountain Pass mine and the only active US rare-earth producer, is positioning to become America's rare-earth champion able to rival China. Its push has surfaced a cutthroat domestic contest, including MP's lawsuit against fellow government-backed contender USA Rare Earth over alleged magnet-technology theft. Both sit at the heart of Washington's critical-minerals strategy even as Beijing has moved to blacklist them under its export controls.
|
Our Take
Processing and magnet capability decide this race more than any single deposit. The investable edge sits with vertically integrated operators that can turn ore into finished magnets at scale.
|
|
Australian Financial Review
Barrenjoey, Morgans Launch $84m Block Trade in BMC Minerals
Major BMC Minerals holder BMC (UK) has sold down a 10.8% stake through an $84 million block trade led by Barrenjoey and Morgans, priced at $2.85 for a 3.7% discount to the last close. It is the holder's first major sell-down since BMC's December IPO, which brought the Canadian Kudz Ze Kayah silver-zinc project to the ASX.
|
Our Take
A first sell-down at a slim 3.7% discount signals healthy demand for the register, not distress. Watch whether the freed-up liquidity widens the institutional base ahead of KZK permitting.
|
|
Natural Resources Canada
Updated Canadian Critical Minerals Strategy: Request for Information
Natural Resources Canada has opened a Request for Information to refresh the 2022 Canadian Critical Minerals Strategy, citing geopolitical upheaval, market shifts and rising demand pressures. The update targets domestic production and processing, safeguarding value chains, and partnering with Indigenous groups and allies, with new tools flagged including equity stakes, offtake agreements and stockpiling. The RFI runs from 29 June to 14 August.
|
Our Take
Canada is openly weighing equity and offtake as levers, not just permitting reform. For developers with Canadian assets, government as co-investor is now a realistic part of the capital stack.
|
|
Live Science
Water Shortages Could Prevent the US From Mining More Lithium, Deepening Reliance on Foreign Imports
A new study in Communications Earth & Environment finds worsening water scarcity could cap US lithium mining expansion, deepening reliance on imports. Most advanced-stage proposed mines sit in water-stressed western states such as Nevada, Arizona and California. Even with the sole operating mine and 22 advanced projects running to 2050, output would fall well short of domestic demand, with the US already importing more than half its lithium from Chile and Argentina.
|
Our Take
The binding constraint on US lithium supply is water, not orebodies. That favours secure-water jurisdictions and keeps import reliance structural, a tailwind for offshore producers selling into the US.
|
|
Realtor.com
Trump Administration To Finance 5 New Nuclear Plants as Data Centers Demand More Energy
The US Energy Department has announced up to $17.5 billion in loans to accelerate 10 large nuclear reactors, structured as five projects each building two reactors at about $3.5 billion apiece. The push, driven by surging AI data centre power demand, backs Westinghouse's AP1000 design and aims to have all 10 under construction by 2030. Utilities and Westinghouse are expected to add up to $5 billion in equity, with five sites to be chosen from seven letters of intent.
|
Our Take
Federal debt de-risking nuclear at fleet scale is a structural bid for uranium and the reactor supply chain. The AI power crunch is now underwriting baseload, not just renewables.
|
|
| |
|
Kamoa Capital
kamoacap.com
|
|
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.
|
|
