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This solid Thursday hike brings Lynas Rare Earths up to as much as 37% up YTD.

It’s not overly surprising that some traders are taking a look at Lynas – with China throttling rare earths exports since Donald Trump and the U.S. levied tariffs on Beijing, global car makers have been looking for other (cheaper) options.

It’s gotten bad enough in Europe, according to Reuters, that some auto parts plants on the continent have started suspending work as they look for new avenues.

This all puts little old Lynas in the hot seat; it’s one of the only companies, listed or otherwise, outside China still producing the required materials. China currently commands as much as 90% of production in the sector.

“Lynas is uniquely positioned to contribute to and benefit from efforts to diversify and rebuild supply chains, including opportunities for a sustained market restructure,” Lynas CEO Amanda Lacaze said last month.

Good timing too – Lynas just managed to produce the first dysprosium oxide at its Malaysian plant in May. That too would be encouraging buyers.

Also coming up are deals in Japan, Europe, and the U.S., Lacaze recently said.

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Things may still swing the other way should the European Union sort things out with China, and that is underway: Trade Commissioner Marcos Sefcovic has been looking to speak to his Chinese counterpart to “clarify the situation.”

Whether they sort things out, though, Mr Sefcovic still declared “the export [bans] increase our will to diversify” – and even just that may have made Lynas’ ears prick up.

Today, LYC is up as much as 81 cents higher, to sell at $9.04/sh.

Join the discussion. See what HotCopper users are saying about Lynas Rare Earths and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Metal Hawk has been prepping for reverse-core drilling runs at its Thylacine and Siberian Tiger prospects since spotting surface gold at Leinster South in 2024.

Now, weeks out from first drill, the explorer has spotted even more to be excited about.

The main excitement includes several new gold prospects ranging from further mineralised quartz veins at Thylacine, Thylacine East, and at the Thylacine Camp to more discoveries at the White Tiger prospect, established more recently.

Best assay results included as much as 24.56 grams per tonne of gold pulled from the “25DR171” hole and 12.48 grams per tonne of gold from the nearby “25DR011.”

At the granite-hosted quartz vein, the top hit was 40.22 g/t Au, the company reported.

The discoveries have allowed Metal Hawk to expand the mineralised footprint of Thylacine’s prospect area out to 900 metres by 150 metres – a “very pleasing” bump.

“It will be very exciting to drill some relatively deep diamond holes early on at both the Thylacine and Siberian Tiger prospects,” Metal Hawk’s managing director, Will Belbin, declared after the company shared the new hits.

Regional field activities have been progressing well, Mr Belbin added, and “will ultimately result in [even more] new gold prospects and drill targets” for the explorer.

There are still some gates Red Hawk has to step through before everything really gets underway, including the impending results of a heritage survey run by the Darlot Watarra group and a site survey report – both of which need to come back before the explorer can actually get started on site access work.

One thing’s for sure, though: “It is a very exciting time for Metal Hawk shareholders.”

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All the excitement among Metal Hawk holders has only been compounded by the other news in the company’s June 5 release, too: The Western Australian government has awarded the explorer $180,000 for its diamond drilling.

This $180K grant, handed out as part of the Exploration Incentive Scheme run by the Western government, will go towards future Leinster South expansions.

Before open, MHK shares have been at 46.5 cents; expect a +4% pop at 10am today.

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Using Cboe live pricing data at 2pm AEST, shares had surged 15.8% – to 1.1cps. Beware the ides of the nanocap; Sunshine has two billion stocks on issue.

Still, it’s clear Sunshine has engendered a fresh wave of interest. Across the last four weeks, on average, Sunshine traded 5.5M shares each day.

On Tuesday, heading into afternoon trades, over 35.8M shares in Sunshine Metals had swapped hands. That’s how you get a 33% rise, even if only to 1.2cps. (Thank the amount of shares on issue for that one.)

While the company headlined its Tuesday news with the fact it hit 10m of gold at 31.9g/t gold from 41m depth at its Liontown prospect, part of Ravenswood, this finance journo can’t help but feel another result is probably of more immediate interest.

That was a 9m intersection hitting 6.3g/t gold from surface at Liontown – offering the tantalising prospect that relatively high-grade gold could be sitting there just waiting for auger drills.

Far more data is needed to confirm that theory, but this journo has seen enough to know the shallower the grade, the better.

(Then again, 40m is relatively shallow too, all things considered.)

To date, today’s data reflects roughly half of the assays pending – another 13 are still waiting to come back to the company.

Probably most noteworthy is that the company’s chief, Dr. Damien Keys, added an exclamation mark to his disclosure commentary.

“The stunning intersection of gold in the shallows of the Liontown Resource is a “Back to the Future” moment,” Keys wrote.

(Let’s be fair: It’s a pretty good movie.)

“Liontown began as a gold mine in 1905 with an estimated 28koz of gold mined at a grade of 22g/t. It is certainly reassuring that the first miners did not take all of the high-grade gold mineralisation!”

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Whether enthusiasm persists likely depends on the look and feel of future gold grade readouts – also on investors’ radars will be updated JORC resource(s), metallurgical testwork results, and a plan to fast-track further mining studies.

Still: The stock might need either more liquidity or a consolidation to truly entice the masses.

SHN last traded at 1.1cps in early afternoon trade.

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The assay results – released by SGS Geosol – showed ore from Campo Grande contains refinery-grade extractable alumina and low reactive silica, consolidating earlier results which included gallium intercepts up to 106.5 grams per tonne gallium oxide (Ga₂O₃) and bauxite intervals up to 42.1% of aluminium oxide (Al₂O₃).

This confirms that the project’s bauxite meets the standard for processing in a refinery via the low-temperature Bayer process, which is the industry standard for alumina production from gibbsite-rich ores.

SGS Geosol assessed this by placing samples through alkaline digestion under heat and pressure to mimic Bayer circuit parameters.

Equinox managing director Zac Komur said the results highlighted the value of Campo Grande – which is located in Brazil’s Bahia region – given the presence of these critical minerals.

“Recent results confirm the presence of refinery-grade bauxite, elevated gallium, and rare earth elements within the Campo Grande Project area,” he said.

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Of key importance, Mr Komur added, is the timing: “This project is along a key critical minerals trend in Brazil, at a time of increasing market focus on secure and independent sources of alumina and strategic metals.”

EQN shares rose on the news to trade at around 8.6 cents each.

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This garbage news (and that’s a good thing, mind you) highlights the “untapped value of complex e-waste streams,” the Oz company spruiked in a June 3 release.

In simple terms, MTM took relatively regular U.S. e-waste, like old telecom equipment and discarded server parts, and converted the antimony found there into water-soluble chloride. This could then be used to develop everything from semiconductors and batteries to munitions, flame retardants, and more.

Of note — atimony recovery, achieved using MTM’s proprietary Flash Joule Heating technology, clocked in at 98%; the recovered grade, 3.13% Sb, exceeded primary global antimony mine averages (often around 0.1% to 1%).

This is all particularly significant, MTM’s managing director, Michael Walshe, explained, because “the U.S. currently has no meaningful domestic antimony production.” These results suggest MTM could fill that gap.

“Combined with our recently secured, pre-permitted demonstration site in Texas, we are well-positioned to scale operations and advance commercial deployment.”

HotCopper users and the wider Oz market liked what they saw in the June 3 release: The explorer jumped as much as 12% at open on Tuesday, to 4.15cps. This comes after a slightly more humble 1.4% gain yesterday.

Looking further back, it adds to MTM’s steady gains, which were mainly helped on in April and May after the company said its e-waste char had 100 times more gold than ore.

(My colleague Jonathon Davidson and I talked about all this on the HotCopper Wire podcast some weeks ago, if you wanted a few more juicy details there.)

Things are only going to get better for MTM, too — Washington meetings await.

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“The company is engaging with U.S. government agencies, including the DoD and DOE, regarding potential funding to support domestic critical metal recovery,” Mr Walshe told MTM shareholders today.

The discussions, which are still in the early stages and non-binding, “reflect strong interest in scalable U.S.-based refining technologies,” he added. “The strategic role of antimony in defence, particularly in armour-piercing alloys and flame-retardant systems, was a consistent theme during recent meetings.”

MTM shares are selling at more than 4.1 cents each this morning.

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The latter will ensure Carey receives gradational royalty on iron ore sold FOB (freight on board) from the Bryah, starting at 80 cents (royalty) when the iron ore price is less than $100 per tonne, $1 when it is priced between $100 and $125, and $1.22 when iron ore is priced at more than $125 per tonne.

Expectations for Bryah have been strong following recent explorations, which have confirmed Valley Bore as being a key target for iron ore mineralisation, indicated by the outcrops of high-grade hematite and banded iron which extend over two kilometres in strike, with widths of 10 to 80 metres.

In 2024, rock-chip assays picked up grades of 64.9% Fe from the Southern Ridge target, while recent assays up to 65.9% Fe were reported from new zones found 3km to the south-west along strike.

CEO James Wilson said all indications for the project seemed promising. “We’re excited to announce the acquisition of the remaining interest in the JV exploration licences, bringing our ownership of the iron ore on these tenements to 100%,” he said.

“The project continues to deliver promising results, with high-grade iron ore rock-chip samples returning assays above 65% Fe – strongly supporting the Direct Shipping Ore potential on a granted mining lease at Valley Bore.”

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“The opportunity is particularly compelling given our strategic location 12km from the Great Northern Highway and surrounded by major players in the sector.”

ALY is trading at 0.5 cents.

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The goal of this expansion – which will see the Phase Two program increased from 2000 metres to 4,000 metres of diamond drilling – will be to grow the current mineralised footprint along strike while also going after priority targets within a wider three-to-four kilometre anomalous corridor.

Phase Two drilling was originally designed to refine structural controls to enable better targeting of potential high-grade feeder zones.

Also behind the decision to expand is Raiden’s meeting of the investment criteria for a 75% ownership in the Vuzel Project, with the company having a pathway to obtain 90% ownership through the definition of a JORC resource.

Managing director Dusko Ljubojevic said the signs that had emerged from previous drilling made this expansion an obvious but important step. “Our decision to expand the Phase Two drilling program by a further 2,000m of diamond drilling is in direct response to the highly encouraging results reported to date,” he said.

“Every hole reported from the Vuzel project has returned gold mineralisation, including numerous high-grade intercepts.”

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“Based on the results and our geological understanding to date, the mineralised system appears extensive, near surface and horizontal to sub-horizontal. These characteristics present an opportunity to rapidly and cost-effectively advance exploration, in alignment with our corporate strategy.”

RDN has been trading at 0.6 cents.

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This amounts to an increase of 186.6Mt, with 48% of the mineral resource now converted into a reserve which is estimated to comprise 1,464 ppm (parts per million) lithium and 5,444 ppm boron – or 1.92 Mt of lithium carbonate equivalent (LCE) and 7.68 Mt of boric acid equivalent (BAE).

These parameters support Ioneer’s plans to build a large, long-life, low-cost expandable operation, focused on the production of lithium carbonate, boric acid and then battery-grade lithium hydroxide.

The co-product of boric acid is expected to make up 25% of annual revenue from the project in its first 25 years; this is set to keep EBITDA (earnings before interest, taxes, depreciation and amortization) in the green at low lithium prices and EBITDA margin of65.7% based on average production over first 25 years.

Costs for the Rhyolite Ridge are some of the lowest among global lithium projects, with an all-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent. Meanwhile, its after-tax NPV is placed at US$1.367 billion, with an unlevered, after-tax internal rate of return (IRR) of 14.5% – making for a suite of robust economics.

Managing director Bernard Rowe said the reserve update was testament to the value of the mineralisation there.

“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy,” he said.

“Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world.”

Ioneer shares have moved higher since the news, and at 13:17 AEST, they were trading at 13 cents – a rise of 8.33% since the market opened.

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The discovery – which entailed an alteration associated with IOCG mineralisation being picked up in exploration hole 25P38D001 – is significant, given that this is the first time that such mineralisation has been successfully detected using ANT.

Within this hole, Castile found one zone of distal silica-hematite alteration measuring between 253 and 277 metres – which suggests the possibility of mineralisation to the north, a zone of strong magnetite replacement of jasper with pyrite in a parasitic fold between 395.35 and 396.2 metres (which repeats the structural setting at Castile’s Rover 1 deposit), and chlorite alteration and associated disseminated magnetite with elevated copper up to 30 times background (max 770ppm) between 580.9 and 612.35 metres down hole.

The company is now aiming to build on this with a downhole magnetic survey in 25P38D001 which will seek to further constrain the magnetic source, plus an ANT survey to determine another target to drill into this initial discovery at Pathfinder 38.

Managing director Mark Hepburn said he was pleased to have completed work which had proved the value of ANT technology at Pathfinder 38.

“This successful intersection of IOCG mineralisation in 25P38D001 will prove invaluable, by allowing Castile to benchmark ANT survey results to know geology to further refine targeting for high-value Rover 1 style deposits under cover,” he said.

“Our Rover 1 Project is ready for development, and we will continue to seek out additional inventory within our Rover Mineral Field for our ‘hub and spoke’ strategy with our aggressive exploration program using the ANT technology.

“Hole 25P38D001 was 50% funded by the NT Government as part of the Geophysics and Drilling Collaboration program being run by the Northern Territory Geological Survey and we thank them for their continued support.”

Castile shares have been trading at 5.3 cents.

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The company has been conducting ongoing metallurgical variability tests on ore from the Sarytogan Graphite deposit, located in Kazakhstan’s Karaganda region, with this material – taken from the Central Graphite Zone (CGZ)- producing a concentrate between 90.5% and 91.3% TGC based on flotation test work.

Earlier flotation work had focused on composite samples from the Northern Graphite Zone (NGZ) and CGZ, achieving 81% to 85% TGC.

The much better result from CGZ alone involved 3 samples, and produced the high-grade TGC at higher recoveries of 84.7% to 86.8% on all 3. This is expected to boost the marketability of Sarytogan’s concentrate, which was previously known as Micro80C.

Managing director Sean Gregory said the result would a boost to ongoing development work on the project.

“The achievement of greater than 90% TGC in flotation concentrate from the CGZ is a greatachievement,” he said.

“The higher grade is expected to open this product to a broader market and potentially higher prices.

“These improvements will be validated with further tests for integration into the Definitive Feasibility Study underway.”

Sarytogan Graphite has been trading at 4.1 cents.

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The contract was signed through the companies’ joint venture subsidiary businesses – Underground Mining Services Burkina Faso SARL (Perenti) and SEMAFO BurkinaFaso S.A (Endeavour) – and builds on a relationship already established between this entity and Endeavour, which has involved the delivery of underground mining and support services at Mana since 2018.

This contract is set to last 60 months and will involve underground development and production, focusing on the complex’s 2 main areas, Siou and Wona.

Perenti managing director and CEO Mark Norwell said he was pleased to announce the expansion of the contract with Endeavour.

“This contract is consistent with our guidance for FY25 and will contribute strongly in FY26 and beyond,” he said.

“Our team continually delivers exceptional value for our clients, and this is clearly demonstrated by this long-term contract for expanded operations at the Mana complex.”

Perenti has been trading at $1.58.

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Production from the facility – which is located 14 kilometres southeast of Tennants Creek – is currently built around deposits owned by Tennant Mining, which is itself a subsidiary of Pan African Resources (AIM: PAF).

As yet, it has not been determined when future processing from deposits falling under the JV will occur, with this likely to impact royalty payments.

However, Emmerson stressed that if Tennant failed to produce 60,000 ounces from the JV tenures by mid-May 2026, it would be required to make Minimum Production Payments, which would equal the 6% gross production royalty on any production shortfall (i.e. 60,000 ounces less gold produced from the JV tenements).

The minimum production shortfall is expected to be between 57,500 and 60,000 ounces (depending on actual production levels achieved by mid-March and mid-May 2026), and this will result in payment of approximately $18 million, payable to ERM in staged payments between April and August 2026.

Emmerson managing director Mike Dunbur offered his congratulations to the Tennant Mining and Pan African Resources teams for reaching commercial gold production at the facility.

“To achieve commercial gold production just four and a half years after signing the exploration Joint Venture with Emmerson and securing a number of other leases in their own name in the Tennant Creek district is a fantastic achievement,” he said.

“We look forward to working with the expanded team as development of the JV ownedgold deposits is undertaken in the coming years and look forward to receipt of the 6% uncapped gross gold production royalty from the Small Mines JV deposits.”

Emmerson shares rose after the news, and at 12:25 AEST, they were trading at 13.2 cents – a rise of 1.92% since the market opened.

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The site of a former silver mine in WA’s relatively recent past (as far as 200 years of gold mining goes,) the company is lured to the area in part by high grades previously found in surface materials nearly 1,000g/t of silver.

(That was the determination of a portable xray scan analysis; fully blown lab assays will be needed to determine underground grades but on-site scanning will continue through the drill run launched today.)

Diamond tipped drill rigs capable of plugging great depths are on-site Elizabeth Hill to collect 1,500m of core in this first iteration.

What is most noteworthy, perhaps, is that the company has previously told HotCopper former miners at Elizabeth Hill back in the mid-20th never went below 100m depth.

That in itself is a tantalising prospect for geotechs; so too are underexplored areas around the current drill locations already known to the team and sparking interest.

The ultimate goal of drilling will be to test how far known mineralised zones extend for more than it will be to go hunting for known unknowns, but the company will use what data it gets from this first run to inform future drill runs.

“We’re extremely excited to have drilling now underway at Elizabeth Hill. It’s a significant milestone for West Coast Silver as we test the additional potential of this historic, high-grade silver project with modern techniques for the first time,” WCE chief Bruce Garlick said.

“We’ll soon be assessing fresh drill core – and that’s when the real geological work begins. Our team is ready to interpret and adapt in real-time, and we’re looking forward to sharing updates with shareholders as results come to hand.”

WCE last traded at 6cps.

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Disclaimer: HotCopper had a commercial relationship with West Coast Silver when this article was published.

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The royalty will first be applied to the Standard Lithium–Equinor joint venture, but will also set a critical commercial precedent for all developers with projects in the Smackover Formation, including Pantera.

This royalty is expected to boost the company’s project economics in two ways: Firstly, through the protection of early-stage economics by requiring the royalty be paid only upon the sale of lithium carbonate or equivalent final product, not at the point of extraction; this would also ensure downstream margin retention.

Additionally, a royalty of 2,5% is relatively competitive and materially lower than royalty structures in other lithium brine jurisdictions, which will also improve the project economics for many companies operating in this area.

The setting down of this framework will also remove uncertainty about royalties – a boost when it comes to engagement with investors, who will also be able to see how the framework works for global lithium players.

This is expected to strengthen Pantera’s position in discussions with infrastructure, offtake, and capital market partners.

Executive chairman and CEO Barnaby Egerton-Warburton said this decision would support the company significantly.

“The AOGC’s endorsement of a structured lithium royalty is a gamechanger for Pantera and all serious developers in the Smackover Basin,” he said.

“We now operate in a regime that offers clarity, fiscal stability, and policy support for lithium as a critical mineral.”

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He added: “Combined with the Arkansas State enacting legislation to stimulate the industries growth by offering a temporary severance tax exemption that will mean lithium producers are exempt from the state’s severance tax on saltwater brine from July 1, 2028, through June 30, 2033 — a six-year tax holiday that further enhances the economic potential of Pantera.”

PFE has been trading at 1.4 cents.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Within the assay mentioned above, WCN also found a high-grade intercept of 18.3m at 4.66 Cu and 17.2 g/t Ag, plus another mineralised zone defined by 12.19m at 1.13% Cu and 2.13 g/t Ag from 91.44; the latter suggests the presence of a sub-parallel structure.

The drilling work – which was reverse circulation – focused on the Danvers project area. The expectations for this area have been bolstered by surface chip sampling of the structure which hosts Danvers, albeit five kilometres southwest.

This yielded assays – picked up over an area of 150 metres – such as 16.15% Cu and 68.5g/t Ag, 13.3% Cu and 70g/t Ag, 9.54% Cu and 29.9g/t Ag, 7.79% Cu and 74g/t Ag.

WCN has therefore confirmed high-grade copper and silver mineralisation along a structural trend of more than 5km, and is planning step-out drilling to test the structure to the southwest.

Managing director Troy Whittaker said the recent work revealed potential hidden treasure at Danvers. “Another solid result from hole six confirms persistent high-grade copper mineralisation at Danvers,” he said.

“What is also now highly encouraging is the recognition and confirmation [that] the structural trend at Danvers is mineralised.

“With high-grade copper and silver now identifiable over more than 5km of the structure to the southwest, the potential of this area is extraordinary.”

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He continued: “The geological team digitised all historic chemical and aerial data and what is emerging from this process, and confirmed by these recent rock chip results, is that Danvers could be very large indeed… the current historical estimate is in no way indicative of the overall potential this structure.”

WCN has been selling at 2.6 cents a share heading into Friday’s trade.

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This is yet another blow for Resolute in relatively recent history, seeing as the company was thrust into the spotlight last year when it effectively had to pay the nation of Mali a ransom to get its CEO back.

(Mali’s junta government wanted US$160 million.)

The company’s share price still hasn’t recovered from that debacle, and now it has a new headache in Guinea.

Three permits the company holds in that jurisdiction (Niagassola, Doko and Siguiri-Kouroussa) are believed to have wrapped up in a wide-sweeping withdrawal of exploration licences throughout the country.

Yesterday, Predictive Discovery reported exploration permits it held were among 129 permits revoked by Guinea’s government earlier this week with no fanfare and, reportedly, no notice to companies holding those permits.

Now, Resolute has confirmed it has similar assets in Guinea – currently halfway transferred to AngloGold – which have also been subject to the move.

But the company was keen to acknowledge it hadn’t actually heard anything from any representative of Guinea’s government.

“Resolute Mining has been made aware of media reports relating to the possibility of a large number of exploration permits being revoked in Guinea,” Resolute wrote on Thursday.

“Details of these were mentioned earlier this week during a local Guinean television report, including those permits held by Resolute.”

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“The company, however, has not received any formal confirmation or communication from the Government of Guinea on the matter. The company is seeking further information and clarification from the government.”

RSG last traded at 61cps.

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The reassessment shows Kiimala to be a project made up of several gold prospects, including a near-surface orogenic gold deposit at Angesneva that contains 3.85 million tonnes at 1.19 grams per tonne of gold for 147,000oz.

Crucially, the latter is entirely within the indicated category, the company said.

Angesneva has produced a suite of high-grade intercepts, including 122.4 metres at 1.52g/t Au and 0.12% Cu from 57.2m; 79.8m at 1.85g/t Au and 0.18% Cu from 127.8m.

Other results at the site included 73.7m at 1.73g/t Au and 0.13% Cu from 247.2m, including 15.2m at 5.31g/t Au and 0.31% Cu from 272.1m.

“The additional gold resource ounces at Angesneva deliver immediate upside, bringing the total gold equivalent resource inventory to almost 1Moz AuEq, with 74% in the Measured and Indicated categories,” executive director Robert Wrixon said.

He continued: “Its proximity to Kopsa adds significant value to the regional development options currently under consideration.”

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The inventory at Kiimala Trend also includes the Kopsa project – located 40 kilometres from Angesneva – which measures 23.2Mt at 1.09g/t AuEq for 814,800oz.

NNL has been trading at 7.4 cents.

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The Chilean discovery – which includes three targets, two of which are under shallow gravel cover – was made through geochemical and geophysical work programs that followed up Hot Chili’s recent drilling at La Verde, confirming that the latter had a footprint of 1,000 metres by 750 metres.

Hot Chili began with geophysical data generated through integration of a 3D magnetic inversion model from ground magnetic data, which indicated a spatial correlation between a mineralised tonalitic porphyry intrusion and a NNE-SSW trending weakly magnetic anomaly over La Verde.

The latter is situated within a localised circular magnetic-low feature, and this relationship has been used as a basis for identifying three additional circular magnetic-low features (lookalike targets) close to La Verde; these were all set at the intersection point of major regional structures.

3D probability models for mineralisation at the targets were completed by Fathom Geophysics. An extensive soil geochemistry programme was used to guide this.

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Hot Chili will now integrate its findings into a phase two drilling program at La Verde, which was to initially focus on extending the main copper-gold discovery, but which will now include first pass drilling of the new targets.

HCH has been trading at 50 cents before open on Thursday.

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The company’s stocks have been slammed, -21% in intraday trades, as the government of Guinea, where Predictive has its Argo and Bokoro exploration permits, revoked 129 exploration permits overnight, taking the company’s scalp with it.

It’s not entirely terrible news: Predictive wrote Wednesday the revoked permits do not include its Kaninko and Saman exploration permits, part of an existing exploitation permit application for the company’s Bankan Gold Project.

But many investors, clearly, aren’t liking what they’re seeing.

Guinea, located in the often tumultuous world of West Africa, is the latest gov’t in that region to take a hard stance against foreign mining companies – a strongman policy decision favoured particularly by military junta governments in that part of the continent.

The prevalence of military junta governments in West Africa has led to the term ‘coup belt’ and while that term has its detractors, it’s hard to dismiss entirely. There’ve been ten governmental overthrows across the region since 2020.

Typically occurring in former French colony countries, the juntas are notorious for offering little long-term certainty to investors and company chiefs alike when it comes to natural resources.

That’s what we’re seeing in Guinea. A military coup seized power in 2021; early last year, the junta actually dissolved the government.

This comes ahead of a September referendum in Guinea to, in essence, ask the people if they want civilian rule or not. It doesn’t take a particularly fierce cynic to wonder if that’s really what would happen, even if there’s a yes vote.

And so why would Guinea revoke 129 exploration permits overnight on what appears to be a whim? The simple truth is that African military chiefs, effectively acting as Presidents, can rouse easy support at home by being seen to take on white-owned companies.

It’s not really a strategy limited to the coup belt. It’s the same idea as when Canberra pretends China isn’t our largest trading partner from time to time. Just think about the move to take back the Port of Darwin.

(The problem with West Africa’s junta governments, however, is that most have shown themselves to be fairly terrible when it comes to taking a sober look at mining economics and foreign direct investment.)

Anyway, none of this backgrounding really matters for Predictive Discovery, nor its shareholders – though the upcoming September referendum could now become a focal point as the company figures out, where it can, what to do.

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“PDI has not received any formal communication from the Guinean government on the matter but intends to work diligently to appeal the revocations in accordance with the Mining Code,” the company wrote on Wednesday.

“PDI looks forward to providing further updates in due course.”

PDI last traded at 34.5cps.

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The approval – first achieved through its partnership with Union MediScience – will see ReNerve enter a Middle East and North Africa market valued at more than US$80 million per annum, and which is also experiencing significant (35%) growth.

ReNerve and Union MedScience will work together to commercialise the NervAlign Nerve Cuff in Bahrain, with a view to entering the markets of other countries across the region using data generated from early cases.

This builds on the exclusive distribution partnership already agreed upon by the two companies – announced in December 2024 – in which UnionMediScience was granted the rights to market and sell NervAlign Nerve Cuff in Bahrain, Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.

Director Dr Julian Chick said the Bahrain approval was an important first step for its goals across the Middle East. “The ReNerve team has done a great job… working with the wonderful people at Union MediScience has been excellent.”

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He added: “We look forward to the commercialisation in Bahrain and further expanding our sales and marketing efforts in the region.”

RNV shares have moved up 9.5% since open, to 11.5cps.

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