Money of Mine

Xanadu finally received a cash bid, but it came from anunexpected bidder. We’re hooked and naturally, we explore the likelihood of a bidding war should Zijin feel the pressure to bid now.The most publicised sale process at the moment has to beRavenswood Gold. Amazingly, there’s only two bidders left. One of which is Regis, and we tell you why we don’t really think Regis will buy it.Plus, we kick off by sharing some feedback from the Money Miners we’ve received over the last two days.……………TIMESTAMPS (00:00) Introduction and Feedback from the Money Miners(04:01) Xanadu to spark a Bidding War?(16:12) Ravenswood Gold Mine Sale Dynamics……………Join 12k+ subscribers to the ⁠Director’s Special⁠: one daily email with all the news that matters in mining ……………PARTNERSThank you to the mining services businesses that make thiscontent possible: ⁠Mineral Mining Services⁠ – Your preferred mining contractor - 1300 546 117 ⁠Grounded - Infrastructure for remote mining and civil projects Australia wide | Paul Natoli: pn@groundedgroup.com.au ⁠Sandvik Ground Support⁠ – The only ground support you’ll ever need ⁠CRE Insurance – Insurance Brokers for the construction, resources and energy sectors | davidh@creinsurance.com.au +61 2 9493 6100 ⁠K-Drill – Safe, reliable, and productive surface RC drilling | Ryan O'Sullivan: ryan@k-drill.com.au +61 427 783 190 ⁠KCA Site Services – Workforce and equipment solutions for mining and civil projects | admin@kcasiteservices.com.au 1300 143 947 ⁠Black Diamond Drilling Services⁠ – Drilling consumables supplier for the mining industry support@bddrill.com.au +61 450 944 489 ⁠Cross Boundary Energy – Independent power producer for the global mining industry | tim.taylor@crossboundary.com +61 466 184 943 ……………FOLLOW & CONNECT• YouTube: ⁠@MoneyofMine⁠ • Twitter / X: ⁠@moneyofminepod⁠ • ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ • Travis Ricciardo: ⁠@TRAVmoneyofmine⁠⁠ • Jonas Dorling: ⁠@JDmoneyofmine⁠⁠ • Email us Word on the Decline: gc@moneyofmine.com ……………JOIN THE GROUP CHAT • Step 1: Join the ⁠Money Miners Facebook Group⁠ • Step 2: Request access to the ⁠HOOTEROO chat⁠ ……………DISCLAIMER All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our ⁠full disclaimer⁠.

Commodity trader Bentley Attebery and China macro analyst Rogan Quinn join us for a unique conversation. The pair delve into the current dynamics of commodity markets, particularly focusing on China's economic activities and their impacts on metals, property, and renewable markets. They explore China's cyclical stabilisation, the state of the real estate market, US tariffs' effects on global trade, as well as niche metals and newer commodities.This interview was recorded on 13 May 2025.Timestamps (00:00) Introduction (01:54) China's Economic Landscape (04:39) Real Estate Market Insights (11:31) Steel and Iron Ore Market Analysis (16:22) West African Mining Developments (29:40) Electrification and Renewable Energy in China (41:16) Market Dynamics and Lithium Prices (41:44) Battery Energy Storage in North America (43:17) China's Shift in Battery Chemistry (44:14) Challenges in Lithium Trading (47:28) Sodium vs. Lithium Batteries (51:51) Direct Lithium Extraction (DLE) (53:27) Lithium Sulfate Monohydrate (55:33) Tantalum and Niobium Markets (01:01:24) Tin Market and Supply Disruptions (01:08:38) Copper Market and Tariff Impacts (01:17:46) Global Trade and Economic Implications Join 12k+ subscribers to the Director’s Special: one daily email with all the news that matters in mining PartnersThank you to the mining services businesses that make this content possible: Mineral Mining Services – Your preferred mining contractor - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide | Paul Natoli: pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need CRE Insurance – Insurance Brokers for the construction, resources and energy sectors | davidh@creinsurance.com.au +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling | Ryan O'Sullivan: ryan@k-drill.com.au +61 427 783 190 KCA Site Services – Workforce and equipment solutions for mining and civil projects | admin@kcasiteservices.com.au 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the mining industry support@bddrill.com.au +61 450 944 489 Cross Boundary Energy – Independent power producer for the global mining industry | tim.taylor@crossboundary.com +61 466 184 943 Follow and connect with us• YouTube: @MoneyofMine • Twitter / X: @moneyofminepod • LinkedIn | Instagram | Facebook• Travis Ricciardo: @TRAVmoneyofmine⁠• Jonas Dorling: @JDmoneyofmine⁠• Email us Word on the Decline: gc@moneyofmine.comJoin the group chat• Step 1: Join the Money Miners Facebook Group• Step 2: Request access to the HOOTEROO chatDisclaimerAll information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our full disclaimer.

In today’s episode, we invited on Dave Franklyn of Argonaut Funds Management.We thoroughly enjoyed this conversation, which traversed many topics, including how to make sense of the macro environment, why Dave never compromises on stock quality, how he positions in times of uncertainty, the lessons he’s learnt along his investment journey and his thoughts on a host of individual stocks. We hope you enjoy the chat. Chapters:(0:00:00) Introduction(0:00:44) Dave Franklyn back on MoM(0:01:25) The Trade War(0:03:32) China's catch-22(0:05:15) Australia precarious position(0:08:00) Why gold(0:09:34) Are tariff's paused… or gone(0:11:20) Safety in cash(0:16:10) Don't compromise on quality(0:21:18) Jurisdictional risk(0:24:35) Why NexGen(0:26:43) Canada moving in a better direction?(0:28:30) Greatland - Still cheap?(0:33:20) What's going to happen to Bellevue(0:36:20) The sweet spot for MAC(0:38:25) Develop Mining Services(0:40:01) Lessons on the Lassonde Curve(0:45:05) Why no Sandfire?(0:49:15) Value in rare earths(11:39:26) Biggest mistake (12:39:26) Best callSign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Join our exclusive Money Miners Facebook Group

It’s been a big week at Money of Mine, so we start today’s show with an open yarn about it.To get back into the swing and talk about what we’re fascinated by, we dove in a big story.Why Liontown has run so hard and what the futures holds for them.And we decided to include an open discussion we had after ripping the episode.Sign-up for the Director’s SpecialChapters:(00:00) Changes at Money of Mine(09:24) What health in Liontown in(15:13) The balance sheet.(25:50) Why has LTR run so hard?(33:12) Post-episode open conversation Please read our Privacy Policy and Disclaimer here Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia-wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Join our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group. Money of Mine on YouTube, Twitter, LinkedIn & Instagram

Will Thomson of Massif Capital has a unique way of thinking about opportunities so we were thrilled to cover topics including tin and the DRC, copper and Zambia, USA’s growing understanding of mineral importance, gold miners in the Americas and some fascinating thoughts on the investment business.Follow Will on Twitter @wmthomson22 Sign-up for the Director’s Special Chapters:(00:00:00) Introduction: Will Thompson(00:02:30) Macro View: Resources vs. Mag 7(00:08:00) Navigating Market Uncertainty(00:11:00) Alphamin & DRC (AFM.V)(00:21:00) Zambia's Copper Potential & Midnight Sun Play(00:28:00) Gold Strategy: Equinox & Scale Debate(00:35:00) Gold: G Mining & Guyana(00:38:00) Portfolio Construction(00:42:00) Idea Generation & The Multistrat Model Please read our Privacy Policy and Disclaimer here Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling ryan@k-drill.com.au - +61 416 015 876 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Buy Money of Mine MERCH Join our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group. Money of Mine on YouTube, Twitter, LinkedIn & Instagram

Fund manager, David Finch of Ixios Asset Management kindly joined us to explore the full spectrum of mining equites. We largely discuss the state of gold miners who will be flush with cash at current gold prices. The question on David’s mind: which ones will allocate that cash best?Plus we explore the more ‘out of favour’ commodities on David’s mind. Sign-up for the Director’s Special Chapters:(0:00) Preview(0:17) David Finch joins, state of gold miners today(5:50)  Exemplary Capital Management (AEM)(8:10)  Growth M&A vs. Per-Share Value(13:35)  China's Strategic Gold Accumulation(16:00)  Portfolio Strategy: Quality vs. Leverage(20:00)  Australia vs. Canada(29:40)  Transition Metals: Copper Outlook(48:30)  Contrarian Views & Copper Stock Value -- Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Buy Money of Mine MERCH Join our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group. Money of Mine on YouTube, Twitter, LinkedIn & Instagram

Today’s show is a fantastic chat with fund manager Rick Squire.We covered a heap of ground, from the possibility of a rare earths rebound, to where there’s value in the gold sector, as well as prioritising companies of scale, potential natural resources M&A and who’ll benefit from a lithium run up. Enjoy the yarn!Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupportCRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectorsdavidh@creinsurance.com.au - +61 2 9493 6100K-Drill – Safe, reliable, and productive surface RC drillingdrew@k-drill.com.au - +61 416 015 876WA Water Bores – WA’s premier water well drilling companyJames@wawaterbores.com.au - +61 429 695 538Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energyinfo@quattrope.com - +61 8 9373 1140KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenanceadmin@kcasiteservices.com.au – 1300 143 947Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industriessupport@bddrill.com.au - +61 450 944 489Cross Boundary Energy – Independent Power Producer for the global mining industrytim.taylor@crossboundary.com - +61 466 184 943  Money of Mine on YouTube, Twitter, LinkedIn(0:00:00)Intro(0:01:53)Rare Earths(0:07:23)Petratherm(0:12:08)Brazilian clay rare earths(0:15:40)Gold excitement(0:18:58)Meeka Metals(0:25:04)Mid cap golds converting the gold price(0:33:15)Pantoro(0:36:15)Bellevue(0:41:12)Gold Road(0:44:50)Alto and Brighstar(0:52:10)AIC Mines(0:55:35)Undeveloped gold opportunities(0:58:23)Patriot and potential lithium deals

A quick wrap up for the week as we rapid fire run through the five most interesting deals of the week. Plus we can't let the late quarterly reporters get away without our signature Name and Shame segment. Sign-up for the Director’s Special daily email. Chapters:(0:00) Introduction(2:13) The top 5 deals of the week(11:16) Name and Shame ASX Late Reporters Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Buy Money of Mine MERCH Join our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group. Money of Mine on YouTube, Twitter, LinkedIn & Instagram

In today’s show we had the pleasure of chatting with junior mining specialist John Forwood.John is a wealth of knowledge when it comes to the explorers, so we picked his brain on interesting commodities, where pockets of value are, what he think deserves more attention and how he think M&A has evolved in parts of the market.Sign-up for the Director’s SpecialPlease read our Privacy Policy and Disclaimer hereDiscounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine. Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration.Non-members enter code MOMNM at checkout for $160 off your registration.Brisbane, 20 - 22 May, 2025Thank you to our Partners:Mineral Mining Services – Your preferred mining contractorhttps://www.mineralminingservices.com.au/join-us/ - 1300 546 117Grounded - Infrastructure for remote mining and civil projects Australia widePaul Natoli - pn@groundedgroup.com.auSandvik Ground Support – The only ground support you’ll ever needhttp://www.rocktechnology.sandvik/groundsupportCRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100K-Drill – Safe, reliable, and productive surface RC drillingdrew@k-drill.com.au - +61 416 015 876WA Water Bores – WA’s premier water well drilling companyJames@wawaterbores.com.au - +61 429 695 538Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energyinfo@quattrope.com - +61 8 9373 1140KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenanceadmin@kcasiteservices.com.au – 1300 143 947Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industriessupport@bddrill.com.au - +61 450 944 489Cross Boundary Energy – Independent Power Producer for the global mining industrytim.taylor@crossboundary.com - +61 466 184 943   Money of Mine on YouTube, Twitter(0:00:00)Introduction(0:01:38)Current volatility(0:05:21)Investing in exploration(0:10:45)Countercyclical plays(0:12:00)Astral & Medallion(0:14:39)Ramelius(0:15:43)Predictive Discovery(0:20:20)Montage picking up stakes(0:24:05)Which golds haven't ripped(0:26:35)TSX companies listing on ASX(0:29:23)Mt Isa potential(0:31:42)Koonenberry (0:33:33)Nexus Minerals(0:35:04)Trucking dirt(0:39:38)New World Resources(0:42:35)Silver

We’re in the thick of quarterlies now, so we plucked out 2 of the most fascinating stories to chat about.First up we dived into MinRes, who saw their stock rocket 15%+ on the back of their release.And for our second story, we peeled back the layers at Emerald Resources, looking at the opportunities that lie ahead for the miner with 2 growth projects.Sign-up for the Director’s Special Chapters:(0:00:00)Introduction(0:02:22)MinRes ease fears, for now(0:31:35)Why the bad quarter at EmeraldPlease read our Privacy Policy and Disclaimer here Discounted tickets available for Global Resources Innovation Expo (GRX) exclusively via Money of Mine.  Austmine and AusIMM Members enter code MOM at checkout for $190 off your registration. Non-members enter code MOMNM at checkout for $160 off your registration. Brisbane, 20 - 22 May, 2025 Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor https://www.mineralminingservices.com.au/join-us/ - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au Sandvik Ground Support – The only ground support you’ll ever need http://www.rocktechnology.sandvik/groundsupport CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 WA Water Bores – WA’s premier water well drilling company James@wawaterbores.com.au - +61 429 695 538 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 KCA Site Services - Recruitment services, equipment hire, labour hire, civil works, underground projects & services and shutdown maintenance admin@kcasiteservices.com.au – 1300 143 947 Black Diamond Drilling Services – Drilling consumables supplier for the open pit and underground mining industries support@bddrill.com.au - +61 450 944 489 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Buy Money of Mine MERCH Join our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group. Money of Mine on YouTube, Twitter, LinkedIn &