Money of Mine

Darren Kwok from Perenti/Barminco and Andrew Dawson from Sandvik joined the show to chat the future of underground load & haul. We had a yarn about: ·       Battery truck trial at Sunrise Dam·       Diesel/Electric loaders and trucks hitting the market·       Hybrid potentials for Load & HaulDiscounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode)Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 Cross Boundary Energy – Independent Power Producer for the global mining industry tim.taylor@crossboundary.com - +61 466 184 943   Buy Money of Mine MERCH Money of Mine on YouTube, Twitter, LinkedIn & Instagram(0:00:00)Introduction(0:02:20)What is what?(0:07:23)Why go Diesel/Electric?(0:11:10)Technology behind individual wheel-ends(0:15:09)Keep the electrics water-proof(0:17:12)Full battery trial at Sunrise Dam(0:26:10)Will it be battery swap or battery charging?(0:29:35)Hybrid potential?(0:34:00)Surface power balance(0:38:13)Collaborating for future mines(0:40:10)UGOPS2025

Today we’re sharing an enlightening discussion into the world of making discoveries, African exploration and having an edge, with First Quantum’s Mike Christie.We explore whether mining companies have lost the plot, where he’d explore if he had a blank canvas, how the approach of the Chinese differs and a whole heap more. Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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(0:00:00)Introduction(0:02:22)Have western mining companies lost the plot?(0:05:25)Permitting and approvals(0:07:30)Who has the best chance of discovery?(0:13:22)AI and machine learning for exploration(0:16:35)Where are the hot spots?(0:20:15)Tech advancements in processing(0:25:50)First Quantum's exploration success(0:35:50)Reliance on NPV and IRR analysis

We start todays show delving into rare earths and how the depressed price environment is hitting Lynas, looking to answer whether they’ll need extra cash.  Next, we spit-ball about what advancements in robotics and AI could do to the demand for various metals from titanium to copper, before we close with some juicy deal making in the goldfields, with AngloGold Ashanti tying up an option with junior gold play Matsa.Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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(0:00:00)Introduction(0:01:03)Will Lynas be forced to raise cash?(0:19:50)What will robitics do to metal demand?(0:31:23)More on Lakewood TSF(0:34:05)AngloGold get busy in the WA goldfields

We ventured to Canada to kick things off today, unpacking the C$7.7b deal between Equinox and Calibre.Next up we delved into a lucrative and niche commodity, and we ask the question, can a Canadian junior crack the monopoly?Lastly, we come closer to home to discuss the latest and greatest in the Kalgoorlie region, with Black Cat swinging for Westgold’s Lakewood mill.Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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(0:00:00)Introduction(0:00:56)Why EQX & CXB investors hate the deal(0:19:55)Can this Canadian junior crack the big time(0:31:40)Black Cat spend up for Lakewood

Two big stories dominated our focus today: Mitsui’s Rhodes Ridge deal + the De Beers write down by Anglo.We had to unpack the truly enormous swing the Japanese trading house has taken at an iron ore project only forecasted to come online in 2030, and similarly we couldn’t miss a chance to chat about the decline in fortunes of one of the 20th centuries most profitable businesses. Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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(0:00:00)Introduction(0:01:36)Mitsui swing big for Rhodes Ridge(0:10:44)Why have Mitsui made this bet(0:22:17)The iron ore outlook(0:28:00)Lessons from De Beers decline

It was our privilege to sit down with Perseus Mining CEO Jeff Quartermaine.Jeff has run the West African gold miner for over a decade, helping take the company from a junior to where it is today.We discussed the recent M&A drama involving Predictive, capital allocation in a world of US$3k/oz gold, his view on hedging as well as the all-important aspect of jurisdictional risk. Chapters:(0:00) Introduction(1:33) Lundin and Zijin at Predictive(3:00) M&A in hot gold market?(7:20) Why buybacks make sense(9:10) Cost discipline(14:56) Riding the tailwind of country turnarounds(21:56) Nuances of reporting costs(26:55) Hedging(28:36) Why one analyst just "got it" Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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

There’s been a plethora of businesses reporting numbers, but we decided really hone in on one name. MinRes.The company is fascinating, and the story gets better by the day.We looked to focus on what really mattered from the results while trying to get at the heart of what comes next for the company.Sign-up for the Director’s Special Chapters:(0:00:00)Introduction(0:01:53)What Really Matters(0:10:09)Wild Weather (0:16:21)Funding the Road Repairs(0:28:11)The Capex Blowout(0:41:21)What Next…?Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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

We dive straight into the Big Australian’s numbers, specifically honing in on BHP’s action in South Australian Copper and asking the question: How much have they blown?Next up we discussed the passionately supported Adriatic Metals, who yet again are out raising capital.Lastly, we give a brief prelude to the half-year results of MinRes.Chapters:(0:00:00) Joke of the year(0:02:14) Reflecting on BHP's OZ acquisition(0:13:48) US dollar strength for M&A(0:17:25) What to make of Adriatic's raise(0:34:18) Prelude to MinRes' resultsSign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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

Pala Investments’ Tom Solomon sat down with us for a cracking chat on his views on the uranium market, where copper is going, the value in gold as well as how his general macro overview is shaping his investments.Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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(0:00:00)Introduction(0:02:40)Taking the temperature on uranium(0:08:42)Uranium demand vs supply(0:12:55)The shorts(0:14:50)Fear & greed pushing gold higher(0:17:30)Should goldies hedge?(0:20:15)Coppers state of flux(0:22:40)A contrarian commodity pick(0:28:20)Lithium quick take

We had the pleasure of chatting with Spencer Cole, an expert in a part of our industry in which we haven’t spoken nearly enough about.Spencer knows more than most about royalties, so we used the opportunity to pick his brain about how the sector has evolved, how different royalties come into existence, the best & worst royalty decisions that have been made, how royalty co.’s should trade plus a bunch more. Sign-up for the Director’s Special Please read our Privacy Policy and Disclaimer here Discounted tickets available for AUSIMM Underground Operators conference exclusively via Money of Mine. Get $100 off using the code MOM100.Adelaide, 7 - 9 April 2025 (Matty will be there in full conference mode) 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 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 Saltbush Contracting - Bulk Haulage (Mine to mill) and earthmoving specialists lachlan@saltbush.net - +61 400 722 059 Swick - Seventeen million metres drilled. Twenty-plus global sites. Ninety rigs.  rob.burnett@swickmining.com - +61 8 6253 2310 Quattro Project Engineering - Global Engineering partnerships delivered with efficiency, innovation and energy info@quattrope.com - +61 8 9373 1140 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  Money of Mine on YouTube, Twitter, LinkedIn & Instagram(0:00:00)Introduction(0:01:31)Royalty businesses(0:09:13)Hard rock royalties(0:16:29)Trading multiples for Royalty co's(0:26:05)How royalties get created(0:29:55)Countercyclical deals(0:33:00)Offloading non-core royalties(0:37:08)Morgan Stanley royalties(0:43:18)Lack of royalty companies in Australia(0:50:50)Hedge fund royalty funds