Money of Mine

The last few weeks have been HUGE in the macro world, with US rate cuts, volatile markets & threatening geopolitics.With this in mind, we interviewed macro-driven fund manager Chris Judd.Chris runs the Cerutty Macro Fund, which seeks out equity opportunities by following macro themes & liquidity cycles. The discussion covered his outlook on global markets, his view on inflation, the big opportunities as an Aussie investor and where commodities piece into his fund. Sign-up for the Director’s SpecialChapters:(0:00:00)  Introduction(0:02:34)  Judd on the Fed's cut(0:07:54)  Stubborn Inflation or Deflation?(0:09:55)  Gold as a hedge(0:12:35)  Why Macro-themed fund(0:18:10)  A bias for value(0:20:40)  AI as an investment thematic(0:24:33)  The uranium trade(0:27:00)  Lithium isn't interesting yet(0:29:15)  Where China is at(0:34:40)  Challenges with India's attractiveness(0:40:02)  The volatility surprise(0:41:12)  Passive challenges(0:45:53)  Super fund impacts to markets(0:49:14)  Investing vs the investing businessAll 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, re

Today we had the chance to chat with Andy Leyland, co-founder of SC Insights.Andy has spent his career analysing commodities markets, with a particular focus on the battery supply chain. In our conversation we dive into his contrarian views on hybrids, what’s next for lithium, what the future holds for European automakers, what trends he thinks more people should focus on, the role of stationary storage and a whole heap more.Sign-up for the Director’s SpecialChapters:(0:00:00)  Introduction(0:02:15)  Andy's view on current sentiment(0:06:00)  Are the '2030' phase-out dates real or not?(0:12:13)  China outcompeting on every metric(0:18:45)  Market failure led to government intervention(0:21:20)  Northvolt failure(0:22:30)  Lithium cost curve with post CATL curtailment(0:30:32)  Brine and DLE production(0:39:45)  Roll of Solar and Storage(0:49:26)  Where are the Green Premiums?(0:55:55)  China matters the mostAll 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

We rip into today’s show with a chat about Lotus’s (LOT) Letlhakane scoping study, which seemed to miss a key detail or two, then we moved to the big WA DomGas policy and the ramifications for MinRes (MIN).We round off with a chat about Kingsgate (KCN) and all the companies that came to mind who’ve ventured into South-East Asia, including Emerald (EMR), K92 and X64.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 Money of Mine on YouTube + Twitter(0:00:00)Introduction(0:01:48)What's missing at Lotus?(0:14:16)WA DomGas make the changes(0:23:12)Will MINs sell their gas assets?(0:28:36)Gold mining in Thailand

 We kick things off with a revelation that another party tried buying Fission Uranium earlier this year. And with CGN publicly opposing the merger with Paladin, naturally we wonder if it was them.IGO is rumoured to be having a good look at Rio’s Winu Copper Project and we peel the curtain back on eight undeveloped gold projects in West Africa that we think are the most likely candidates to find their way into the hands of established producers. Sign-up for the Director’s Special Chapters:(0:00:00)  Introduction(0:01:53)  Another Party Tried to Buy Fission!(0:22:30)  Will IGO buy Rio's Winu?(0:37:53)  8 under-rated African GoldiesAll 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.

We start today’s show with the news that US$85/lb is the new floor price being conceived for uranium contracts, and then it’s a chat about Sibanye-Stillwater and the wider PGM markets.Next up we picked up on some chatter that there’s been a breakthrough of sorts from China Northern Rare Earths, & to wrap up we take a looking at the goldies spilling news. Sign-up for the Director’s Special Chapters:(0:00:00) Introduction(0:01:30) Scuttlebutt from WNA(0:14:27) Is Sibayne-Stillwater beaten up enough?(0:33:58) Rare earths "exploration breakthrough" in China(0:40:28) Gold smashes new recordAll 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 

Le Shrub, a witty market commentator operating under a clever pseudonym, dives into the tumultuous world of commodities. He shares his strategies for investing amid fiscal recklessness and emphasizes the critical role of real assets in uncertain economic times. Shrub discusses the pitfalls of emotional biases in trading, offers insights into interpreting economic data, and critiques the impact of passive investing. With a blend of humor and sharp analysis, he highlights opportunities in undervalued commodities like platinum and tin, urging a balanced investment approach.

Plenty to rip through today, starting with the big news out of CATL that lit up lithium markets, followed by the Greatland / Newmont deal.Next we jumped into IGO’s big strategy day, then we looked at Putin’s comments on commodity markets, before closing off with a chat about Catalyst, De Grey & Astral.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 Money of Mine on YouTube + Twitter, (0:00:00)Introduction(0:02:24)CATL light up lithium(0:14:40)Greatland get the deal done(0:33:44)What's IGO's new strategy?(0:50:54)Catalyst eye off 200kozpa(0:55:11)De Grey set a trend(0:58:00)Astral on a run

We kick things off yarning about the Greatland-Telfer deal which leaked late yesterday, before jumping into another interesting gold story in G-Mining.Next we touched on the Fission-Paladin deal, which scraped over the line, while saving a couple of juicy ones for the end with Bowen Coking Coal & Global Lithium getting a rightful mention.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 AssociationRegister for Drill24 herehttps://adia.arinex.one/DSI Underground – Ground support gurushttps://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.comBuy Money of Mine MERCHJoin our exclusive Money Miners Facebook Group & request access to the Hooteroo chat group.Money of Mine on YouTube + Twitter(0:00:00)Introduction(0:01:45)Greatland close in on Telfer(0:21:24)G-Mining on the rise(0:27:08)Fission-Paladin gets up(0:34:05)Bowen Coking Coal under the pump(0:40:31)Global Lithium activists win

We start today talking about the index changes for the top 200 & 300 biggest ASX players, with plenty of resource names featuring.Next up we dive into the Paladin – Fission Uranium deal, on the eve of the big vote, before chatting about the key points from WNA, the big uranium conference.Lastly, we touched on Perseus getting closer to wrapping up Predictive, with a 19.9% holding secured.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.auWe use SPARK - Market data for active ASX Traders - https://sparktrader.comBuy Money of Mine MERCHJoin our exclusive Money Miners Facebook GroupMoney of Mine on YouTube + Twitter(0:00:00)Introduction(0:02:10)Who made the ASX200(0:13:11)Will the $FCU $PDN deal go through(0:24:57)Lessons from WNA(0:35:25)Perseus tighten PDI grip

We had Alex Turnbull on for a cracking chat about raw materials through the entire supply chain to end demand.The discussion got in the weeds on data centres and the metals demand they’ll account for, whether the Aussie lithium sector can protect itself from wild volatility, lessons from years following met coal, whether certain parts of the world should adopt nuclear technology, the endgame for West automakers and a whole heap more.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.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 AssociationRegister for Drill24 herehttps://adia.arinex.one/DSI Underground – Ground support gurushttps://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.com(0:00:00)Intro(0:01:25)Data centres, chips and energy metals(0:04:25)Parallels to EV craze(0:09:51)Energy for data centres(0:12:27)How much power 1 data centre chews?(0:18:56)Lithium volatility(0:25:44)Successful downstream Lithium(0:28:49)Credit case vs equity case in failed Lithium miners(0:30:33)Endgame for European car makers(0:32:48)Hydropwer and China's energy market(0:36:55)Global energy required to charge future EV's(0:40:04)Stationary storage(0:44:06)Met coal outlook(0:52:25)Emergence of India(0:54:59)Fortescue ambitions(0:56:56)Current state of iron ore market(0:58:42