ASX Runners of the Week: DY6 Metals, Dateline, Andromeda & Jindalee
This week's Bulls N' Bears ASX Runner of the Week is rare earth elements (REE) and heavy minerals exploration company DY6 Metals.
The company shot out of a cannon on Tuesday after it revealed that historical assays at its Tundulu REE project in Malawi features significant high-grade mineralisation of the critical mineral gallium.
A review of past drill results confirmed high-grade intercepts, including a 74-metre hit grading 93.3 grams per tonne (g/t) gallium oxide with 1.56 per cent total rare earth oxides (TREO) from 72m depth and 53m running 72.8g/t gallium with 1.02 per cent TREO.
Gallium was recently put on China's hit list for critical mineral export controls, as the metal's demand and price has steadily increased in recent years for its uses in semiconductors. China controls about 94 per cent of global gallium supply, leaving the rest of the world frantically searching for the metal, which has interestingly popped up in DY6's carbonotite hosted rare earth project.
The company noted its gallium mineralisation was open at depth, with elevated results occurring within the saprolite clays near surface and again within fresh rock at depth. It has not assayed for deeper potential.
DY6's shares promptly quadrupled on Tuesday morning peaking at 18.5 cents for a gain of 340 per cent from last week's close of 4.2c. The company was quickly placed into a speeding halt by the good boys and girls down at the ASX, who insisted the company needed to supply more evidence and documentation.
Some $1.1 million worth of stock was exchanged in its one hour of trading on Tuesday, which was the company's highest most one-day volume over the past year.
DY6 says it will now kick off critical metallurgical test work on a Tundulu bulk sample to determine if the deposit can economically produce a multiple product package.
The company says substantial potential remains for additional gallium, as only 40 per cent of the 91.5-square-kilometre project area has been drill-tested. With gallium being thrown into the mix, Tundulu's already REE-rich deposit could quickly add a valuable byproduct.
Sampling carried out by the company found mineral rich carbonatite at the previously unexplored Tundulu Hill and Makhanga Hill to the east and west of Nathace respectively.
DATELINE RESOURCES LTD (ASX: DTR)
Up 329% (0.7c – 3.0c)
Charging late this week and going down by a nose is gold and rare earths hopefully Dateline Resources. The company was touted by Donald Trump on his Truth Social platform this week, with the leader of the free world giving his seal of approval to the company's Colosseum project outside of Las Vegas.
President Trump referred to the developing gold project as 'America's second rare earths mine', noting it had been approved after years of stalled permitting. In response, Dateline's share price surged 167 per cent on Friday on $370 million worth of shares traded.
Admittedly, the project is highly prospective for rare earth elements (REE) as it sits just 10km north of the globally significant Mountain Pass REE mine. However, the company has been primarily focussed on Colosseum's 1.1-million-ounce gold endowment. Gold is the only metal that has been mined from the large open pit mine since the 1800s.
Dateline will now look to weave rare earths exploration into its ongoing development story.
The gold project is no slouch, with Dateline wrapping a robust scoping study around its deposit, outlining an 8.3-year mine life with an annual output of 75,000 ounces at an all-in sustaining cost of $2500 per ounce.
The study projects a net present value of US$235 million and a 31 per cent internal rate of return, based on a conservative gold price of US$2200 per ounce.
With gold prices now more than US$3200 per ounce, the project's economics are significantly juiced up, forecasting total sales of nearly US$1.5 billion over its lifespan.
The Trump administration appears more focused on the project's rare earth elements potential and highlighted the project as 'America's second rare earth elements mine.'
An executive order from President Donald Trump earlier this year seeking to reduce US dependence on China seems to be the driving force here, however we wonder if the gun hoe leader of the free world may have gotten his wires crossed.
ANDROMEDA METALS LTD (ASX: ADN)
up 200% (0.95c – 2.85c)
Runners' final podium finish goes to high purity alumina hopeful Andromeda Metals after the company announced it had achieved the critical four nine purity designation (4N or 99.99 per cent) for its high purity alumina (HPA) product from its Great White kaolin project in South Australia.
Kaolin is a soft white alumina clay primarily used in ceramics and paints that can also be converted to HPA for high end uses in synthetic sapphires and smart phones.
Andromeda announced that after seven years of successful metallurgical test work, the company had achieved a 99.9985 per cent purity level from its kaolin sourced at its Great White project.
The news sent its share price skyward on Thursday, hitting a top of 2.85c on $6.5M worth of paper traded, exactly 200 per cent up on its close price from last week.
Andromeda says its HPA is among the highest quality grades, which makes it ideal for applications in batteries, semiconductors, ceramics and emerging technologies.
With demand for this critical mineral projected to exceed supply by 48 per by 2028, Andromeda is looking to cash in on the growing market, using its novel process flowsheet, which was confirmed by an independent analysis to produce a premium HPA.
The company says its lab scale trials sets it apart from other HPA producers, as Andromeda's process will likely be more cost and carbon effective than other reported processes.
Following the positive results, the company will look to complete a scoping study and investigate government funding opportunities. It locked in $75M in project debt financing a little over a month ago.
JINDALEE LITHIUM LTD (ASX: JLL)
Up 158% (26c – 67c)
The final Runner and critical minerals company for the week is Jindalee Lithium. After its promising start last week, the company got a run on with our critical minerals' quartet thanks to its addition to the US's FAST-41 framework.
The framework designation signals US federal interest in projects that are of national strategic importance and promises them a fast track to eventual production.
Jindalee Lithium started the week at relatively the same levels it was last week, before the Trump administration included its flagship McDermitt Lithium project in Oregon on the incoming US FAST-41 list.
The market quickly took notice, with five solid days of volume sending its share price to a high of 67c on Thursday, up 41c to a high of 67c. This was a 158 per cent increase on last week.
The company says its significant McDermitt deposit was designated a 'transparency project' under the FAST-41 framework because it has one of the biggest contained lithium resources nationally.
It was one of only 10 resource projects nationally listed in FAST-41 in a White House announcement early last week.
Jindalee has gotten busy simultaneously applying for US Department of Defence grants to co-fund a feasibility study at McDermitt. The company expects to know the success of any awards by the middle of the year.
The growing demand for domestically sourced lithium has been highlighted as a priority for the Trump administration, as have rare earths. In a struggling lithium market, getting government recognition at a counter cyclical time could be just what McDermitt needs to push on to become a producing lithium mine.
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SBS Australia
31 minutes ago
- SBS Australia
World leaders arrive in Canada for the G7 summit
Listen to Australian and world news, and follow trending topics with SBS News Podcasts . As world leaders descend on Calgary, Canada, for the G7 summit, Israel's war with Iran will likely top the agenda. Donald Trump departed the U-S on Sunday - holding true to a message that's becoming familiar. "Well I hope there's gonna be a deal. Sometimes they have to fight it out, but we're gonna see what happens." The US President has travelled north to a country he's repeatedly said he wants to make part of the United States. His counterpart in the host nation, Canadian P-M Mark Carney, was helped to power by his defiant stance against US tariffs, and he's been looking to strengthen alliances in uncertain times. He welcomed Australian Prime Minister Anthony Albanese upon his arrival in Canada. "Welcome, and thank you for coming for the G7. Canada and Australia, of course, great partners that share the same values, share many of the same interests." Anthony Albanese says they discussed defence, critical minerals, and collaborating to combat bushfires, as well as conflict in the Middle East. "We did discuss Israel and Iran. And both of us share a view, wanting to see a de-escalation of conflict, wanting to prioritise and diplomacy. I have expressed before our concern about Iran gaining the capacity of nuclear weapons as something that is a threat to security in the region." It was one of many meetings scheduled for the coming days, as Mr Albanese makes the most of his chance to advance Australia's interest on the world stage. The G7 consists of major economies, including France, Germany, Italy, Japan, the United Kingdom, and the U-S, but features several guest nations this year. Anthony Albanese's biggest test will come on Tuesday - Canadian time - when he sits down with Donald Trump for their first face-to-face meeting. "I look forward to the discussions with President Trump, I deal with people constructively, respectfully and I advance Australia's national interest, and that is what I'll continue to do." Mr Albanese has had no shortage of advice about how to deal with the president. His advisors include former prime ministers with firsthand experience, who maintain the only successful approach is to stand up to the president's hardball negotiations. US tariffs have been a key issue leading into the talks. "Now our position when it comes to tariffs is very clear. We see tariffs as acts of economic self harm by the country imposing the tariffs, because what it does is lead to increased costs for the country that is making those decisions." Ahead of the G7 summit, European Commission President Ursula von der Leyen says she is hoping to find a solution to U-S trade tensions before a pause on tariffs expires next month. "We are also working on lowering the trade barriers. This was the reason why we offered 'zero-for-zero', so zero tariffs for all industrial goods on both sides. This should be over time the goal. But we are amidst the negotiations right now." There are fears the AUKUS defence pact could be up for some re-negotiation as well, after it was placed under review by the Trump administration. Mr Albanese is under pressure to re-state Australia's case for the acquisition of nuclear-powered submarines, starting from 2032. "On AUKUS, it is very much in the interests of all three countries. What AUKUS offers the US is firstly the support that we're providing for their industrial capacity." Australia has already invested $800 million to support submarine building in the U-S, as production lags far behind key American targets. "And secondly, the increased capacity to have their subs in the water as well, because of the maintenance facilities that will take place at Henderson. In addition to that, there's all of the support that we give to the United States, and with our defence relationships, including fuel reserves in the Northern Territory; including the presence of US forces in in Darwin, as well." SBS News also asked Anthony Albanese whether he will raise the impact of Israel's conflict with Iran on the humanitarian crisis in Gaza when he speaks with Donald Trump. ANNA: "While these strikes are unfolding, there is no more aid getting into Gaza. So when you meet with the US President Donald trump will you be calling on him to apply pressure to the prime minister of Israel to allow aid through?" ALBANESE: "The discussion with President trump will be very much about Australia and the United States and our relations. We've got a few things to talk about."
The Advertiser
38 minutes ago
- The Advertiser
Shares nudge up, oil dips - Mideast tensions in focus
World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce..
West Australian
3 hours ago
- West Australian
Greatland Gold guns for $4.4 billion ASX arrival next week
Australia's next big gold debutant will make a $4.4 billion splash when it arrives on the ASX this month, surpassing many of its WA mid-tier peers all uplifted by the yellow metal's thunderous run. Greatland Gold has locked in commitments to raise $50 million with Australian investors after landing on an offer price of $6.60 a share — a 19.5 per cent premium on the company's share price the day before its prospectus was lodged. The agreed rate for a slice of the Pilbara gold miner had been at the top end of the range Greatland had been shooting for, the company told the London Stock Exchange on Monday. 'The exceptional demand received for the Australian offering is testament to the quality and opportunity of Greatland's Telfer mine and world-class Havieron brownfield development project,' chief executive Shaun Day said. 'The ASX is a natural listing venue for Greatland.' The London-listed company took control of the famed Telfer gold mine in the Pilbara from behemoth Newmont in December last year, and has since churned out more than 90,000 ounces of gold. Still retaining its spot as the company's biggest backer, Newmont will offload $440m worth of Greatland shares — or about half its stake — as part of aJU secondary offer tied in with the listing deal. It was not disclosed who would take on the new shares. With a $4.4 billion market capitalisation, Greatland will sit among the top end of WA's mid-tier gold set when it begins trading on the ASX on June 24. The miner will be level pegging with Capricorn Resources, and ahead of the likes of Regis Resources, Ramelius Resources and Westgold Resources. As well as gold production, Greatland is also eyeing copper output from the undeveloped Havieron deposit it discovered in WA's Paterson region. Greatland also has a farm-in and joint venture arrangement with Rio Tinto's exploration subsidiary for 1500sqkm of ground south of the two projects. Gold's bull run has been spurred by fresh conflict in the Middle East, taking an ounce of the precious metal to $US3415.46 ($5244.95) at 5pm local time on Monday, closing in on touching an all-time high of $US3500 achieved in April. Brokers Barrenjoey, Canaccord Genuity and Bank of America are acting as joint lead managers. on the listing and raising.
