Money of Mine

We spoke about a couple of majors plus an intriguing junior today. BHP tuned into our comments on nickel earlier in the week and voiced their thoughts, saying that they’re sticking with nickel despite what others think. Rio has dished out a US$100m loan to partners in their Simandou iron ore project, one of the richest and thus far untapped projects globally. We saved a deep diving special for Besra Gold (BEZ), a truly fascinating story for the Money Miners to tune into! All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Chapters:(0:00) Preview(0:49) Intro(4:19) Gina edges even higher on Liontown(8:00) BHP sticking to their guns with Nickel(11:29) Will Simandou finally become a Mine???(20:02) Trav Smells Something Curious at Besra Gold!

We start the show with Barrick’s news that they’re going big on copper, with a US$2b investment in Lumwana in Zambia. Strandline (STA) then give us some talking points with a better update, plus we speculate on Base Resources (BSE) interest in them. Red5 (RED) had some more good news as they look to continue a good run, and the same went for Pantoro (PNR) who had a “record” quarter. Matty went deep on Tietto (TIE) who officially came out with their updated mine life plan for the Adujar gold project. We rounded off with a quick word on BHP’s asset sale and Gina’s growing Liontown (LTR) stake. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:39) Intro(3:17) Barrick going big on copper(6:34) Red5’s robust quarter(9:41) Strandline give a positive update(12:16) Base Resources with cash in the bank(14:39) Pantoro finally break some good news(20:18) Matty goes deep on Tietto(34:45) BHP assets coals go quiet(35:50) Gina, come on Money of Mine!

We started today with Trav filling us in on London’s mining community then chatted briefly about how the macro world is impacting miners.Genesis (GMD) gave their first real update on Gwalia’s performance post-acquisition, followed by Dacian (DCN) getting the go-ahead to mine at Redcliffe.We chatted through IGO’s view on a potential supply chat for nickel emerging as well as Agrimin (AMN) terminating its deal to scoop up Kalium Lakes’ assets.Lastly, we touched on Mangis (MNS) and Leo Lithium (LLL) both putting themselves in the ASX’s bad books for varying reasons.All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners:Terra Capital – Specialist Investment manager in the natural resources sectorAnytime Exploration Services – Exploration workers, equipment, core cutting/storage + much moreJP Search – Recruitment specialists for the financial worldK-Drill – Safe, reliable, and productive surface RC drillingSMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTubeFollow Money of Mine on TwitterFollow Money of Mine on LinkedInFollow Money of Mine on Instagram Chapters:(0:00) Preview(0:31) Intro(3:22) Trav’s back from London(6:21) The macro world impacting miners(10:53) Genesis’ first Gwalia update(16:27) Dacian’s Redcliffe gets the go ahead(19:56) The impending nickel supply deficit(28:09) Agrimin terminates deal to buy Kalium Lakes(34:11) LLL & MNS in the ASX’s bad books

We’ve got a special technical chat for the Money Miners with Rob “Refractory” Ryan coming onboard. We run through all the ins and outs of what refractory ore is, what it means for a project, how investors should think about it, what it does to the capex & opex, plus a bunch of real world operations that’ve had to deal with this type of mineralisation. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector An5ytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps: (0:00) Preview(0:54) Intro(4:26) What is refractory ore + more definitions(8:29) Different refractory mines in Australia and around the world(14:17) What are the different mineralogies(17:26) What are the different processing techniques(28:40) The failures at Wiluna(35:40) Are there many other failed attempts?(39:41) Where has Preg Robbing been an issue?(42:00) Fosterville refractory processing(45:57) What does it mean for the opex(49:15) What happens to the capex?(51:35) Why do KCGM ultra-fine grind rather than Roast/POX?(56:45) What does it mean for De Grey?(1:00:09) Getting to gold (and copper) concentrates(1:04:07) Cost of shipping concentrate around the world

No quiet Friday at Money of Mine with plenty of news from the world of mining to chat about today. We launched into MinRes (MIN) upping the stakes, now raising US$1.1B in a bond offering to global investors. Liontown (LTR) updated the market with a poorly kept secret that the capex bill had jumped, plus news that DSO was no longer on the cards. The ACG Acquisition Co SPAC revealed that its deal to buy 2 Brazilian mines from Appian was no more while Lithium Power (LPI) responded to media speculation regarding a potential transaction with Chilean state-owned copper giant Codelco. IsoEnergy & Consolidated Uranium decided they’d get together in a Canadian uranium merger as well as Sovereign (SVM) sharing (yesterday) its PFS for its rutile and graphite project in Malawi. To round off a big week Core Lithium (CXO) provided a much needed positive update and figures from its first financial year as a producer. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:35) Intro(1:59) MinRes upping the stakes(7:22) Liontown capex jumps(14:26) ACG SPAC deal falls through(16:41) Lithium Power jumping on media speculation(19:51) IsoEnergy & Consolidated Uranium getting together(23:10) Sovereign PFS for BIG Malawian mine(26:23) Core Lithium finally share good news

We’ve got a couple great deep dives for the Money Miners today, with De Grey (DEG) and Latin Resources (LRS) releasing significant studies for us to enjoy. We also give a brief shout out to 29 Metals (29M), who attracted only 10% of their retail shareholders into their entitlement offer, plus MinRes (MIN) getting the greenlight for Bald Hill and Gina appearing to pick up another 2% of Liontown (LTR). All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:48) Intro(2:29) The De Grey DFS finally drops(23:34) Latin Resources release “robust” PEA(35:48) 29M retail investors take up just 10%(37:54) Gina buying up more LTR(38:46) MinRes scooping up Bald Hill gets the green light

Today we had on the show Jonathan Fisher, CEO of Cauldron Energy, to chat through what the stance on uranium mining and nuclear power generation currently looks like in Australia. Jonathan shared his thoughts on various commonly cited critiques of why nuclear isn’t viable as a fossil fuel free energy source, as well as what would have to change for mining to commence and the flow on effects of that. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:39) Intro(4:42) Is the momentum changing?(7:54) What’s the current lay of the land for uranium in Australia?(11:25) Laws around Nuclear Power generation in Australia(13:36) Why haven’t laws been amended by previous governments?(16:27) Step by step through the common critiques of nuclear power(32:28 Why is it framed as renewables versus nuclear?(36:08) How important is the proper rehabbing of Ranger(38:50) What is in-situ uranium mining(43:43) Will In-Situ recovery of Uranium influence WA policy change?(46:56) If Australia goes Nuclear, what does it look like?

We had a big news day, though we were left with plenty of questions. MinRes (MIN) announced plans for a US$850m debt offering to fill the coffers, whilst Gina’s stake of lithium developer Liontown (LTR) rose to 10.7%. We had a yarn about the sorry stake of the zinc market resulting in the unfortunate decision some miners are having to make, putting their assets of care and maintenance. Black Cat (BC8) revealed a funding plan for Paulsens restart while Strandline (STA) changed their leadership in an attempt to address their ramp up struggles. Coronado (CRN) is now majority owned by a Czech billionaire and lastly Lindian (LIN) the rare earths developer announced and off-take agreement with a London based commodity trader. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:28) Intro(3:24) Dividends being issued this week(3:54) MinRes fill up the war chest with US$850m(13:02) Gina inches up on Liontown’s register(19:01) Zinc miners having a tough time(25:04) Black Cat secures Paulsens funding(37:11) Strandline leadership shake up(39:44) 51%-stake in Coronado changes hands(42:05) Lindian locks in off-take agreement

More M&A! Matty’s predictions are starting to bear fruit with Australian Vanadium (AVL) and Technology Metals (TMT) announcing a $217m merger today. Allkem (AKE) updated shareholders on everything they’ve got going on under the sun, so we waded through the 100’s of pages for the important info. Last up we commented on consolidation in the potash sector, with limited details as of yet on the Agrimin (AMN) and Kalium Lakes deal. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:56) Intro(3:35) AVL & TMT announce the most logical of mergers(19:10) Allkem update on everything(32:29) Agrimin scooping up Kalium’s assets

We get into the weeds of how Harvest Lane eek out returns year in year out through announced M&A deals and corporate events in this interview with PM, Ben Bailey.Their strategy contrasts greatly with many previous guests on Money of Mine, so it was a great opportunity for us to get up to speed with an important player in the world of ASX corporate deals. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners:Terra Capital – Specialist Investment manager in the natural resources sectorAnytime Exploration Services – Exploration workers, equipment, core cutting/storage + much moreJP Search – Recruitment specialists for the financial worldK-Drill – Safe, reliable, and productive surface RC drillingTopdrill – Drilling into the future Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALDFollow Money of Mine on YouTubeFollow Money of Mine on TwitterFollow Money of Mine on LinkedInFollow Money of Mine on Instagram Chapters:(0:00) Preview(1:01) Intro(4:19) Ben Bailey Hoins Us(8:39) What is the Harvest Lane strategy?(14:23) Is it Value Investing?(18:10) Corporate events you’re attracted too?(22:15) The different takeover mechanisms and what they mean(26:11) Why didn’t Liontown trade at $3 a share?(30:22) Mincor Wyloo trading dynamic unpacked(35:20) Portfolio Management with this Strategy(38:30) Using the RBA cash rate as the Benchmark(42:04) Shorting the Bidder to Hedge Market Exposure(44:05) PRN / DDH Scrip Dynamics and DVP / ESS(47:19) Deal sweeteners & counterbids!(54:07) Getting Active: IGO / Western Areas(56:40) Orecorp / Silvercorp Merger(1:02:02) Ramelius / Westgold / Musgrave Case Study(1:05:00) DDH / Perenti Kicker Possibility