MineLife Resource Report

MineLife Resource Report Providing independent coverage of Australian resource stocks, commodities and issues impacting the broader mining and energy sectors internationally.

I have been a resource analyst following the fortunes of the Australian resource scene for the past 25 years in terms of both equities and commodities - working with stockbroker Intersuisse and financial group Fat Prophets, prior to working for myself. I believe the most interesting resource opportunities are typically found at the smaller end of the market - which is the area that I exclusively focus on. Follow us to stay up to speed and informed of the latest in the resource sector.

Coverage stock EcoGraf® Limited (ASX:EGR, FSE:FMK) has seemingly for a long time been a story for the patient investor, ...
14/11/2025

Coverage stock EcoGraf® Limited (ASX:EGR, FSE:FMK) has seemingly for a long time been a story for the patient investor, so it is encouraging to see it now receiving market recognition, with its share price having increased four-fold so far in 2025. EGR is making significant progress with respect to its ambitions of constructing a vertically-integrated business that will produce high-purity graphite for the lithium-ion battery and advanced manufacturing markets.

Epanko is positioned to become Africa’s largest planned graphite producer, with future expansions tied to downstream HFfree® purification facilities in the US, Germany and Europe, to meet growing EV and lithium-ion battery demand. KfW IPEX-Bank is arranging up to US$105M in senior debt under Germany’s Untied Loan Guarantee program for Stage 1 construction at Epanko.

This usually doesn't end well.....United Nations nuclear inspectors have said they are seriously concerned about the sta...
14/11/2025

This usually doesn't end well.....United Nations nuclear inspectors have said they are seriously concerned about the status of Iran’s inventory of near-bomb-grade uranium, as the Islamic Republic continues to deny them access to sites bombed several months ago by the US and Israel.

The International Atomic Energy Agency reiterated it hasn’t been able to verify Iran’s fuel stockpile since mid-June, according to documents seen by Bloomberg. It’s the first IAEA report since the UN security council reimposed sanctions that demand Iran suspend enrichment activities.

While satellite images show Israeli and US attacks destroyed much of Iran’s surface-level nuclear activity, they also rolled back decades of access by UN inspectors to Tehran’s vast atomic complex. Iran’s nuclear work has concerned the West for decades and tensions over the nature of its atomic program — which dates back to the 1950s — have frequently shaken oil markets and spurred fits of both conciliation and conflict with the US.

Coverage stock Auric Mining Limited (ASX:AWJ) continues to demonstrate that small can be beautiful, kicking off Phase 2 ...
07/11/2025

Coverage stock Auric Mining Limited (ASX:AWJ) continues to demonstrate that small can be beautiful, kicking off Phase 2 of its gold production strategy with almost $11M in receipts from its Munda starter pit (1,790 ounces of gold so far sold at an average price of A$6,130/oz from 60,000t of ore processed at Black Cat Syndicate’s (ASX: BC8) Lakewood mill). A further gold pour is anticipated from this initial ore parcel, with a second processing campaign at BC8 envisaged in the New Year to deal with the 65,000t contract balance.

Auric had already established its credentials with the outstanding financial and operational outcome from its previous Jeffreys Find Project – which has delivered ~30koz of gold and will ultimately deliver ~$16M in net cash vs an acquisition cost of ~$1.2M.

With the Starter Pit mining campaign complete, AWJ has commenced detailed planning and scoping for the Munda Main Pit, with work scheduled to begin during Q1 2026. The Main Pit represents a major opportunity to expand production, complemented by the recent purchase of the Burbanks Gold Processing Facility and associated infrastructure, which will also form an important plank of the bigger-picture growth strategy.

Coverage stock Kula Gold Ltd (ASX: KGD) (initiated at 1.5c in Sep 2023) is in the process of completing Phase 1 diamond ...
11/10/2025

Coverage stock Kula Gold Ltd (ASX: KGD) (initiated at 1.5c in Sep 2023) is in the process of completing Phase 1 diamond and RC drilling programs at its Mt Palmer Gold Project, located within Western Australia’s Southern Cross Goldfields. Encouragingly, $KGD is up 680% so far in 2025 compared with a 48% increase in the A$ gold price over the same period.

The historic Mt Palmer Gold Mine +150,000 ounces of gold at a grade of 15.9g/t during the period from 1934 to 1944, then closing in part due to World War 2 and never re-opening. Regionally, Mt Palmer lies north of the Nevoria Gold Mine (+600,000 oz) and the Yilgarn Star mine (2M oz), and 30km east of the Marvel Loch Gold Mine (3M oz).

The historic Mt Palmer Gold Mine was mined down to only the 6th Level (~160m), but at a grade of 15.9 g/t Au. It’s interesting to note that KGD’s current RC program has drilled down to just 80 metres, with most holes intersecting mineralisation from surface down to 40 metres. We await assay results from the recent drilling programs during October/November, with Phase 2 drilling set to begin in November.

One of the interesting aspects as gold hit $4,000 per ounce for the first time this week (a 50% gain so far in 2025 and ...
11/10/2025

One of the interesting aspects as gold hit $4,000 per ounce for the first time this week (a 50% gain so far in 2025 and its best year since 1979), is how the metal has performed against other key investment benchmarks in 2025. Of course silver's performance has been outstanding too, up 58%. Gold has importantly outperformed bitcoin (up 19%), the S&P 500 (up 11%) and the Dow Jones Index (up 7%).

Typically, the metal thrives when investors fret over inflation, economic slowdown, or potential market turmoil. Conversely, when investors' risk appetite improves, it tends to lag shinier alternatives that do not require extra cash to store or insure them. That dynamic was at play in 1980, when gold surged as US inflation peaked above 13% and tanked both the US economy and stocks, and in early 2008, when the global financial crisis wiped 32% off Wall Street shares in six months.

But gold is now soaring together with (and beating) stocks and bitcoin, as investors bet heavily on US rate cuts and concern grows about the dollar's role as the world's top reserve currency. Investor and central bank buyer momentum shows no sign of abating, driven by growing economic and geopolitical concerns.

Long-time coverage stock, Legend Mining (ASX: LEG) has recently undertaken an expansion of its Western Australian explor...
24/09/2025

Long-time coverage stock, Legend Mining (ASX: LEG) has recently undertaken an expansion of its Western Australian exploration activities with the recent purchase of the Pinnacle Well Project, 25 km NNE of Leonora. It is the first step in expanding LEG’s project portfolio beyond the Fraser Range and nickel. LEG has always represented a strongly focused exploration story, with results from its Mawson prospect in Western Australia’s Fraser Range the most significant since the discovery of the world-class Nova-Bollinger nickel-copper deposits by Sirius Resources (beneficiary of a $1.8B takeover by Independence Group (ASX: IGO) in late 2015).

LEG’s persistent Fraser Range nickel focus has also seen it attract legendary prospector, Mark Creasy, onto its register as a major shareholder, where it retains a 30% stake, with IGO holding a 15% stake. With the plunge in nickel prices over recent years that has decimated investor interest in emerging nickel players, LEG has sensibly elected to broaden its commodity exposure to include a focus on Western Australian gold. The region is host to numerous significant gold deposits - including Gwalia, Tarmoola, King of the Hills, along with base metal deposits at Teutonic Bore/Bentley/Jaguar. LEG is also very well funded to pursue meaningful exploration on its new tenements, with cash reserves of $11.836M as of the end of the June quarter.

Coverage stock Matsa Resources Limited (ASX: MAT) represents one of the sector's newest gold producers via development o...
12/09/2025

Coverage stock Matsa Resources Limited (ASX: MAT) represents one of the sector's newest gold producers via development of its Devon Pit Gold Mine near Lake Carey in Western Australia. Mining activities commenced in early July, followed by the first shipment of ore for third-party toll-treatment, with the first gold pour expected in September. MAT is up 348% over the past 12 months, while the A$ gold price is up 56%.

As a bonus, a pocket of visible gold within brecciated gabbro and pyroxenite has been intersected during the mining process. Photon assays of two samples undertaken at ALS’ Kalgoorlie laboratory has returned grades of 222.60g/t and 188.35g/t. This ore lies outside of the digblock design and so was not included in the original reserve mine plan. MAT is therefore well placed to benefit from the ongoing strength in the A$ gold price (~$5,500/oz), as production ramps up.

Coverage stock Talisman Mining Limited (ASX: TLM) has kicked off its H2-2025 field campaign in NSW with an initial 6-hol...
10/08/2025

Coverage stock Talisman Mining Limited (ASX: TLM) has kicked off its H2-2025 field campaign in NSW with an initial 6-hole/900-metre RC drill program to test the large Walkers Hill gold-in-soil anomaly (measuring ~10km x ~2.5km and one the largest within the district) near Condoblin.

TLM is targeting near-surface gold mineralisation, with sparse historic drilling generating encouraging near-surface results of: 40m at 0.46g/t Au from 3m (PMV005) and 12m at 0.38g/t Au from surface (TMY027) at the Sheepyard prospect: and 20m at 0.48 g/t Au from 16m at the Maroonbah prospect. (TBC015).

Importantly, all mineralised holes ended in oxide mineralisation, and drilling was limited to 60m below surface. TLM's drilling will also test a strong Pole-Dipole Induced Polarisation (PDIP) anomaly - as two lines completed in 2023 showed a significant chargeability anomaly below the mineralised RC drill intercepts at the Sheepyard Prospect.

In a welcoming environment for near-term gold producers, coverage stock Matsa Resources Limited (ASX: MAT) appears to ha...
20/07/2025

In a welcoming environment for near-term gold producers, coverage stock Matsa Resources Limited (ASX: MAT) appears to have timed its run well, up 188% in share price terms over the past 12 months compared with a 41% rise in the value of A$ gold.

MAT reported this week that the Devon Pit Gold Mine (DPGM) near Lake Carey in Western Australia is now fully operational, with ore being mined and stockpiled at site, with haulage to the FMR processing plant expected to commence from late July 2025. The first parcel of 50,000t of ore is expected to be processed during mid-late September 2025 and MAT’s second processing campaign is scheduled for December 2025. Mining contractor Blue Cap appear to have performed strongly, setting up the mine in a short period of time. MAT is well placed to benefit from the ongoing strength in the A$ gold price (+$5,000/oz), as gold production from Devon ramps up.

Coverage stock EcoGraf (ASX: EGR, FSE: FMK) (initiated in 2015) has recently released a couple of important updates with...
16/07/2025

Coverage stock EcoGraf (ASX: EGR, FSE: FMK) (initiated in 2015) has recently released a couple of important updates with respect to its emerging and vertically-integrated battery anode materials business, which aims to produce high-purity graphite products for the lithium-ion battery and advanced manufacturing markets.

Firstly, EGR has received positive feedback from the U.S. Department of Defense (DoD) for its white paper submission for award funding for the establishment of a EcoGraf HFfree® Purification Facility in the US. The white paper has sought funding for up to US$76.3m for development of the advanced graphite and anode manufacturing facility, with an annual capacity of producing 20,000 to 25,000t using EGR’s HFfree® US Patented purification processing technology.

Secondly, EGR has recently hosting meetings with representatives from the European Union (EU), including several EU Member State Agencies and Financial Institutions, at its Epanko Graphite Project in Tanzania. The project is recognised by the EU as a key development for the establishment of new, long-term and sustainable battery mineral supply chains for European industry, and the EU is exploring options for assisting EGR to accelerate its development.

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