Money of Mine

Rio’s (RIO) agreed deal with Arcadium (LTM), priced at US$6.7b kickstarted conversation today, before we went deep on Regis’ (RRL) strong cash print and outlook.To wrap up we discussed the expanded $150m capital raise for MAC, and what the read throughs are.Sign-up for the Director’s SpecialAll information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au CrossBoundary Energy – Can-do independent power producer tim.taylor@crossboundary.com - +61 466 184 943 Sandvik Ground Support – The only ground support you’ll ever need https://www.dsiunderground.com/contact CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 MMTS - Mining title consultants for exploration & mining companies iva.morrell@mmts.net.au Australian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and exploration Reece Spitalny - +61 434 479 610 We use SPARK - Market data for active ASX Traders - https://sparktrader.com Buy Money of Mine MERCH Join our exclusive Money Miners Facebook Group Money of Mine on YouTube, Twitter(0:00:00)Introduction(0:02:08)Are Brines > Spod?(0:26:00)Will Regis do M&A?(0:47:54)What's the readthrough on MAC's raise?

Today’s show takes us around the world, starting with MinRes’ (MIN) scheming in the West African country of Mauritania. Next, chat about the growing trend of Japanese conglomerates doing deals with explorers and developers, before touching on Capricorn’s (CMM) quarterly performance and Mt Gibson update, plus West African’s (WAF) recovery.Sign-up for the Director’s Special All information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au CrossBoundary Energy – Can-do independent power producer tim.taylor@crossboundary.com - +61 466 184 943 Sandvik Ground Support – The only ground support you’ll ever need https://www.dsiunderground.com/contact CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 MMTS - Mining title consultants for exploration & mining companies iva.morrell@mmts.net.au Australian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and exploration Reece Spitalny - +61 434 479 610 We use SPARK - Market data for active ASX Traders - https://sparktrader.comMoney of Mine on YouTube, Twitter(0:00:00)Introduction(0:00:48)MinRes Scheming in Mauritania(0:23:10)Japanese conglomerates doing mining deals(0:33:20)When will Capricorn's Mt Gibson come online?(0:42:43)WAF's road to recovery

We’ve got some cracking stories today, starting with the news that Rio Tinto (RIO) is sizing up Arcadium (LTM), for which we had Mike Teran, portfolio manager at Blackwattle, join us to discuss where fair value sits for the integrated lithium player.Next up we got into West African Resources (WAF) who had a torrid day amid nationalisation fears, and finally we discussed the takeover panels U-turn on ERA following some noise from minority shareholders.Sign-up for the Director’s Special All information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate.MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast.Thank you to our Partners:Mineral Mining Services – Your preferred mining contractorenquiry@mineralms.com.au - 1300 546 117Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.auCrossBoundary Energy – Can-do independent power producer tim.taylor@crossboundary.com - +61 466 184 943Sandvik Ground Support – The only ground support you’ll ever needhttps://www.dsiunderground.com/contactCRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectorsdavidh@creinsurance.com.au - +61 2 9493 6100Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876MMTS - Mining title consultants for exploration & mining companies iva.morrell@mmts.net.auAustralian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and explorationReece Spitalny - +61 434 479 610 We use SPARK - Market data for active ASX Traders - https://sparktrader.com Money of Mine on YouTube, Twitter(0:00:00)Intro(0:01:45)Rio pouncing on Arcadium(0:08:45)Michael Teran from Blackwattle gives his views(0:23:50)Why Arcadium and not Albemarle?(0:44:49)Another WAF dip(0:53:08)Takeovers panel backflip on ERA

We had the privilege of speaking to mining industry veteran Owen Hegarty. Owen began his career Rio Tinto (CRA), becoming Asia & Aus. Copper-Gold MD, before branching out and starting Oxiana, which he ultimately merged with Zinifex to form OZ Minerals. Subsequently, he co-founded mining private equity giant EMR Capital, where he serves as exec chair, having also served as the vice-chair of Fortescue during the boom times.Sign-up for the Director’s SpecialAll information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast.Thank you to our Partners:Mineral Mining Services – Your preferred mining contractorenquiry@mineralms.com.au - 1300 546 117Grounded - Infrastructure for remote mining and civil projects Australia widePaul Natoli - pn@groundedgroup.com.auCrossBoundary Energy – Can-do independent power producertim.taylor@crossboundary.com - +61 466 184 943Sandvik Ground Support – The only ground support you’ll ever needhttps://www.dsiunderground.com/contactCRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectorsdavidh@creinsurance.com.au - +61 2 9493 6100Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806K-Drill – Safe, reliable, and productive surface RC drillingdrew@k-drill.com.au - +61 416 015 876MMTS - Mining title consultants for exploration & mining companiesiva.morrell@mmts.net.auAustralian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and explorationReece Spitalny - +61 434 479 610We use SPARK - Market data for active ASX Traders - https://sparktrader.com(0:00:00)Intro(0:02:32)Owen Hegarty on MoM(0:06:35)Which assets did Owen work at?(0:14:32)Asia bull market(0:18:16)Building diversification(0:22:52)Oxiana and Zinifex merger(0:31:45)Oz Minerals termination payment(0:36:11)Working at FMG(0:39:58)Building EMR(0:44:48)Kestral(0:49:58)Lubambe(0:53:50)Ravenswood(0:57:18)29Metals(1:02:19)West Cumbria coal

We kick off the show with a chat about the ~$270m block trade in Pilbara Minerals, with Ganfeng said to be involved, before jumping into Xanadu Mines and their big copper play in Mongolia. To wrap up we touch on the Paladin – Fission Uranium deal which is stalling at the final hurdle.Sign-up for the Director’s SpecialAll information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au CrossBoundary Energy – Can-do independent power producer tim.taylor@crossboundary.com - +61 466 184 943 Sandvik Ground Support – The only ground support you’ll ever need https://www.dsiunderground.com/contact CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 MMTS - Mining title consultants for exploration & mining companies iva.morrell@mmts.net.auAustralian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and exploration Reece Spitalny - +61 434 479 610We use SPARK - Market data for active ASX Traders - https://sparktrader.comBuy Money of Mine MERCHJoin our exclusive Money Miners Facebook Group Money of Mine on YouTube, Twitter(0:00:00)Introduction(0:01:33)Is Ganfeng bearish PLS?(0:16:31)Should we get interested in Xanadu?(0:38:14)Will PDN-FCU fall at the last hurdle

Today we reveal what we are looking out for on our radar this quarterly reporting season since it’s October already. Plus we look at the stellar return of Tembo’s from selling their Spartan royalty to Osisko. And we wrap up with Rio’s optimism on getting Resolution up and about (finally maybe?)Sign-up for the Director’s SpecialAll information in this podcast is for education and entertainment purposes only and is of general nature only.The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional.MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 Grounded - Infrastructure for remote mining and civil projects Australia wide Paul Natoli - pn@groundedgroup.com.au CrossBoundary Energy – Can-do independent power producer tim.taylor@crossboundary.com - +61 466 184 943 Sandvik Ground Support – The only ground support you’ll ever need https://www.dsiunderground.com/contact CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au - +61 416 015 876 MMTS - Mining title consultants for exploration & mining companies iva.morrell@mmts.net.au Australian Earthworks and Haulage - Clearing for construction, drilling, dams and rehabilitation works for mining and exploration Reece Spitalny - info@aewh.com We use SPARK - Market data for active ASX Traders - https://sparktrader.com Buy Money of Mine MERCH Money of Mine on YouTube, Twitter(0:00:00)Introduction(0:01:38)GIFT for the money miners(0:03:03)On the radar for quarterlies(0:25:39)Tembo offload Spartan royalty(0:42:17)The big Resolution copper mine

3 different stories grabbed our attention today, the big China stimulus that is pushing stocks & commodities higher, Liontown (LTR) announcing their first shipment and Kingston Resources (KSN) releasing a ‘6-year mine life’ in the Cobar.Sign-up for the Director’s SpecialAll information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Axis Mining Technology - Drill hole survey instrumentation experts info@axisminetech.com – call Shaun Oehlman - +61457053260 Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 VRIFY – Communicate in 3D grant@vrify.com ADIA - The Australian Drilling Industry Association Register for Drill24 here https://adia.arinex.one/ DSI Underground – Ground support gurus https://www.dsiunderground.com/contact Silverstone – Energy solutions for your business kenny@sstone.com.au CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au We use SPARK - Market data for active ASX Traders - https://sparktrader.comBuy Money of Mine MERCHJoin our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group.Money of Mine on YouTube, Twitter, LinkedIn (0:00:00)Introduction(0:00:59)China pumps stimulus - Commodities fly(0:27:52)Liontown ship first spod(0:40:46)Kingston the next Cobar mine?

We had the privilege of speaking with YJ Lee (@usuallyYJLe) for a fascinating discussion on all things “clean energy”.YJ, a fund manager at Arcane Capital, covered why he thinks consensus lithium/battery/EV expectations are far too weak, the components of the market he believes analyst’s are glossing over, where fragility in his opinions sit, the other battery metals he’s bullish on & a heap more.We thoroughly enjoyed this one & know you will too. Sign-up for the Director’s Special All information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate.MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast.Podcast Partners:Axis Mining Technology - Drill hole survey instrumentation expertsinfo@axisminetech.com – call Shaun Oehlman - +61457053260Mineral Mining Services – Your preferred mining contractorenquiry@mineralms.com.au - 1300 546 117VRIFY – Communicate in 3Dgrant@vrify.comADIA - The Australian Drilling Industry Association Register for Drill24 here https://adia.arinex.one/DSI Underground – Ground support gurus https://www.dsiunderground.com/contactSilverstone – Energy solutions for your businesskenny@sstone.com.auCRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectorsdavidh@creinsurance.com.au - +61 2 9493 6100Greenlands Equipment – Turnkey mine water managementCaleb.M@greenlandsequipment.com.au - +61 447 178 806K-Drill – Safe, reliable, and productive surface RC drillingdrew@k-drill.com.auWe use SPARK - Market data for active ASX Traders - https://sparktrader.comMoney of Mine on YouTube + Twitter(0:00:00)Intro(0:01:53)Going deep into China Lithium(0:04:18)Why are supply forecasts overstated?(0:12:27)Future of lower cost lepidolite operations(0:15:34)YJ's supply forecast(0:24:43)Demand contention(0:32:17)Stationary storage(0:38:40)Fragility to thesis(0:44:02)Silver and solar panels(0:51:43)Will silver usage decline?(0:58:48)Interesting miners and developers(1:05:08)Has Lithium bottome

We get into Delta Lithium’s strategic review of its Mt Ida gold project and spit ball a few potential outcomes, followed by a look at Southern Cross Gold’s AI supported mineralisation extension find.Lastly, we took the pulse on the Calidus administration process and whether a competing recap solution might pip Mr Creasy’s DOCA proposal.Sign-up for the Director’s Special All information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Axis Mining Technology - Drill hole survey instrumentation experts info@axisminetech.com – call Shaun Oehlman - +61457053260 Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 VRIFY – Communicate in 3D grant@vrify.com ADIA - The Australian Drilling Industry Association Register for Drill24 here https://adia.arinex.one/ DSI Underground – Ground support gurus https://www.dsiunderground.com/contact Silverstone – Energy solutions for your business kenny@sstone.com.au CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au We use SPARK - Market data for active ASX Traders - https://sparktrader.com 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(0:00:00)Intro(0:02:06)Mt Ida wheelin' & dealin'(0:24:53)Southern Cross Gold AI success(0:28:16)Big Calidus update

We kick things off with the US$175m uranium deal between UEC and Rio Tinto, then follow it up with the fascinating short report that surfaced on New Found Gold (NFG.nyse).Our final story for the day covers Adriatic Metals, a company at an intriguing inflection point in its journey to becoming a fully-fledged miner.Sign-up for the Director’s Special All information in this podcast is for education and entertainment purposes only and is of general nature only. The hosts of Money of Mine (MoM) are not financial professionals. MoM and our Contributors are not aware of your personal financial circumstances. Before making any investment decision, you should consult a licensed financial, legal or tax professional. MoM doesn’t operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given. MoM strive to ensure the accuracy of the information contained in this podcast but we don’t make any representation or warranty that it’s accurate or up to date. Any views expressed by the hosts of MoM are their opinion only and may contain forward looking statements that may not eventuate. MoM will not accept any liability whatsoever for any direct or indirect loss arising from any use of information in this podcast. Thank you to our Partners: Axis Mining Technology - Drill hole survey instrumentation experts info@axisminetech.com – call Shaun Oehlman - +61457053260 Mineral Mining Services – Your preferred mining contractor enquiry@mineralms.com.au - 1300 546 117 VRIFY – Communicate in 3D grant@vrify.com ADIA - The Australian Drilling Industry Association Register for Drill24 here https://adia.arinex.one/ DSI Underground – Ground support gurus https://www.dsiunderground.com/contact Silverstone – Energy solutions for your business kenny@sstone.com.au CRE Insurance – Insurance Brokers for the Construction, Resources and Energy sectors davidh@creinsurance.com.au - +61 2 9493 6100 Greenlands Equipment – Turnkey mine water management Caleb.M@greenlandsequipment.com.au - +61 447 178 806 K-Drill – Safe, reliable, and productive surface RC drilling drew@k-drill.com.au We use SPARK - Market data for active ASX Traders - https://sparktrader.com 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(0:00:00)Introduction(0:02:03)UEC Scoops up Rio's US uranium assets(0:15:10)New Found Gold fights short report(0:32:35)Crunch time at Adriatic