The Drill Down
Monday 6 July 2026
|
| |
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
US Defense Logistics Agency Launches Tender for Battery-Grade Lithium Carbonate Stockpile
The US Defense Logistics Agency has issued a five-year fixed-price solicitation to supply up to roughly 16,167 tonnes of battery-grade lithium carbonate to the National Defense Stockpile, with a maximum contract value of US$300 million and bids open until 17 July. Volumes taper from about 3,657 tonnes in year one to 2,839 tonnes by year five, at minimum 99.5% purity delivered to warehouses across four states, moving Washington from stockpile planning into execution.
|
Our Take
The volume is small, so this is a policy signal, not a demand shock. A fixed-price floor above Asian spot rewards qualified non-China supply over cheapest tonne.
|
|
| |
Commodity Prices
Precious Metals (USD/toz)
|
Gold
|
$4,175
+1.26%
|
|
Silver
|
$62
+2.33%
|
|
Platinum
|
$1,639
+1.40%
|
|
Palladium
|
$1,266
+0.73%
|
|
Base Metals & Commodities
|
Copper USD/t
|
$13744.80
+0.87%
|
|
Nickel USD/t
|
$16347.00
+0.43%
|
|
Zinc USD/t
|
$3550.09
+2.75%
|
|
Lead USD/t
|
$1888.90
+1.28%
|
|
WTI Crude USD/bbl
|
$68.39
-0.57%
|
|
Prices updated as of 6 July 2026, 8:03 am AEST
|
| |
Market Movers
Winners & Losers - Canadian Markets
|
Gold Hart Copper Corp.
No fresh news, with the stock bouncing back after being sold into its lows on Thursday. Gold Hart's Tolita asset sits in Chile's Vicuña District, the same emerging copper-gold porphyry belt that has drawn major-company attention.
|
|
Integral Metals Corp.
No news, with large-volume buying lifting the stock off its lows. Integral is a critical-minerals explorer whose flagship KAP project in the Northwest Territories has returned high-grade zinc with gallium and germanium.
|
|
EDM Resources Inc.
No specific catalyst, with the move extending gains on an advancing restart story. EDM's flagship is the fully permitted, past-producing Scotia zinc-lead mine near Halifax, Nova Scotia, which it is working to bring back into production.
|
|
|
|
Helius Minerals Limited
No news, with selling on light volume after a strong multi-month run. Helius is advancing an option over the Serra Pelada gold-platinum-palladium project in Brazil, alongside copper-gold ground in Nevada's Yerington district.
|
|
BCM Resources Corporation
No fresh news, with light-volume selling as its 2026 drill campaign continues. BCM's 100%-controlled Thompson Knolls porphyry project in Utah has returned wide copper-gold-silver intercepts, with further assays still pending.
|
|
Pulsar Helium Inc.
Drifting lower with no news today, having last week reserved a US$78.7m liquefaction plant for its Topaz helium project in Minnesota. With that milestone already priced, the market now waits on flow-rate data.
|
|
Market data as of 6 July 2026, 9:30 AM AEST
|
| |
This Week's Poll
Which Best Describes You?
|
|
|
○ High-net-worth investor
|
|
|
|
|
|
|
○ Government / Institution
|
|
|
| |
Presented By
|
Enabling fractional mining royalty investment
|
|
| |
|
Today's Stories
|
Mining.com
Chile's Novandino Litio Seeks Environmental Approval for $3B Atacama Lithium Project
Novandino Litio, the SQM-Codelco joint venture, filed for environmental approval on Friday for a US$3 billion project to extend lithium production in the Atacama salt flat to 2060. The overhaul introduces direct lithium extraction and other new technologies to lift output while cutting freshwater use through treated brine reinjection, part of Chile's push to expand state involvement in the sector.
|
Our Take
Chile is locking in the lowest-cost lithium on earth for another generation. If DLE scales here, it resets the cost curve every higher-cost producer is measured against.
|
|
Mining.com
Column: Battery Metals Recovery Runs Into Stop-Start EV Market
Prices of lithium, cobalt and nickel have all recovered from their 2024-2025 lows, but a stop-start EV market is complicating the outlook for battery metals. The column examines the drivers behind the recovery and the risks ahead.
|
Our Take
A recovery off the 2024-2025 lows is real but fragile while EV demand stays stop-start, meaning battery metal equities remain a volatility trade rather than a structural re-rate. Investors should favour low-cost producers that can survive another demand air pocket over leveraged developers.
|
|
Mining.com
KGHM Launches $8.55 Billion Investment Plan
Poland's state-controlled KGHM adopted a "Strategy 2055+" plan on Friday, committing more than 32 billion zloty (US$8.55 billion) through 2030 and targeting payable copper of 730,000 tonnes and average annual EBITDA of 12 billion zloty. Around 80% of both output and spend stays domestic, anchored by a new "KGHM 2.0" mine, with the balance across Chile, the US and Canada.
|
Our Take
A European copper major reinvesting at home to feed its own smelters is the supply-security trade in practice. Ore close to the furnace beats tonnes shipped across oceans.
|
|
Metal.com
Central Banks Are Still Betting on Gold
Despite gold's correction from its January highs, reserve managers remain firmly constructive, with a fresh OMFIF survey showing many expecting prices between US$5,000 and US$6,000 an ounce over the next year. It reinforces the World Gold Council's finding that a record 45% of central banks plan to add to their own reserves, with nearly 90% expecting global official holdings to keep rising.
|
Our Take
The official-sector bid is the floor under gold that retail keeps underestimating. Central banks buy in decades, not quarters, and they are not done diversifying out of the dollar.
|
|
Reuters
TSX Near Record Closing High; Mining Shares Up With Gold, Copper
Canada's S&P/TSX composite rose 0.9% on Friday to 35,274.84, a two-week high just shy of its June record, as metal miners led broad gains. Gold and copper firmed after weak US June jobs data cut Fed rate-hike expectations and softened the dollar, lifting Agnico Eagle, Wheaton and Barrick by more than 2%.
|
Our Take
A softer Fed path is rocket fuel for Canadian miners. When rate cuts and metal strength line up, the TSX materials complex is the cleanest beta on the trade.
|
|
AFR
Genesis Minerals Eyes Spoiler Bid for Vault's $10.7 Billion Regis Merger
Genesis Minerals is weighing a spoiler bid to disrupt Vault's proposed $10.7 billion merger with Regis Resources. Genesis sees potential to process its Bardoc ore through Vault's Mt Monger plant, with regional infrastructure, mining fleets and technical synergies in play.
|
Our Take
A $10.7 billion deal in play means Regis shareholders now have optionality, and Genesis' interest in the Mt Monger plant signals the real prize is processing capacity in the Leonora-Kalgoorlie corridor. Expect a bidding tension premium that rewards Regis holders and forces Vault to sharpen its terms.
|
|
| |
|
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.
|
|
