Catalyst Metals (CYL) – Trident drilling confirms potential at depth

Coking coal prices have been under pressure in CY25 and remain subdued due to supply being robust and demand being weak. We have downgraded our near-term coking coal price forecasts, however we maintain our longer-termRead more

Spot spodumene prices have continued to decline and we have lowered our near-term price outlook to reflect this. We believe a price recovery is likely to be rapid once the market swings to a modestRead more

We attended a site tour to CXO’s Finniss Lithium Project. We were impressed by the quality of the process infrastructure on site. We expect CXO to leverage off the infrastructure footprint to re-start mining atRead more

SPR has reported some positive metallurgical results for Never Never and Pepper, showing strong ~92-93% recoveries with a 75μm grind and 48-hour leach. Test work has also shown that higher recoveries of up to 94-94.7%Read more

SBM has reported that a significant rain event at Simberi earlier this month has impacted its 4QFY25 production result and therefore has downgraded its FY25 production guidance from 55-65koz to 51- 52koz. The rain eventRead more