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The momentum for critical minerals is increasing.
Over the weekend, we learned that the US intends to buy up to $500M of cobalt, $245M of antimony from US Antimony, $100M of tantalum from an undisclosed American supplier, and a combined $45M of scandium from Rio Tinto and Illinois-based APL Engineered Materials.
Several defence offices are now ‘flush with cash’ according to the Financial Times.
Today, JP Morgan announced a decade-long initiative that could see up to $1T in investments across many sensitive areas, including critical minerals.
To me, this feels like a major shift.
Let’s put a pin on it for a sec and talk about what we’re paying attention to this week:
Macro
- Gold and silver continue on a roll amidst the chaos. Where is the ceiling? Not here, it seems.
- Economic calendar: This week, Aussie jobs will be released and should give clues for what the RBA will do next.
- Regulatory: In addition to the rising animosity with China, the US government shutdown continues and it’s bound to have some short-term effects across the globe.
Meanwhile…
These companies are making bold moves.
Deals, capital raising and IPOs
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- Right Resources $RRE is set for a listing on ASX via A$10M raise; their focus is gold and copper in Australia. Euroz Hartleys is lead manager and the price on listing will be A$0.20/share.
- Nexus Gold $NXS is now also listed on LSE.
Normally, we expect a lift in targets and weakness in acquirers, and often, peers to targets get extra love. For IPOs, we keep an eye on listing day/week, as big swings may point to opportunities.
Announcements, rating updates and research reports
- Agnico Eagle Mines Limited, Collective Mining Ltd. $AEM $CNL Agnico to exercise participation rights in Collective, for C$15M. Total holding now is over 14% >> read
- Lithium Americas Corp. $LAC finalizes DOE loan amendments and provides ATM update, amidst strong run in the stock >> read
- McEwen Mining Inc. $MUX Announces Positive Feasibility Study for Los Azules Project in Argentina >> read
- ST GEORGE MINING LIMITED $SGQ A$72.5M raised for Araxa rare earths-niobium project from North American, European investors, plus a strategic placement from Hancock Prospecting >> read
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Going back to today’s topic… this whole thing brings me back to lithium.
Yes, I know I tend to go there often. But I got reasons. While Lithium Americas didn’t get the sweetheart deal MP Materials got, it still pushed the company to more than double its market cap.
Western lithium sources could still see a massive appreciation. Mainstream is where we need to be and I reckon this is it.
In this video, I covered more on lithium.
Where do you stand on this one? Would love to hear.
And that’s it for today.
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Extra resources
Latest posts
What I’m reading
- The Big Print: What Happened To America And How Sound Money Will Fix It by Lawrence Lepard
- The Diary of a CEO: The 33 Laws of Business and Life by Steven Bartlett
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Sources: Canaccord research, Bloomberg, Reuters, Mining.com, TradingView, ASX, TMX, NASDAQ, LSE and SRC research. Figures shown in US dollars unless clarified.
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