Labor scrambles to anticipate Trump's next tariffs play
Published 29 July 2025, 6:46 am
The Australian Government is scrambling to make sense of the latest remarks from the US President which suggest the nation could face higher tariffs than anticipated. As the deadline for the decision looms, the opposition remains convinced the lack of face-to-face negotiations has led to a worse outcome for Australia.
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The Australian
an hour ago
- The Australian
MM8 on path to Ravensthorpe production
Medallion snags Forrestania Nickel Operation from IGO for 1.5% net smelter royalty on future gold production Deal preserves $29m war chest to progress work streams to facilitate Ravensthorpe development decision Resource upgrade and metallurgical work will feed into key feasibility study Special Report: Medallion Metals has executed an agreement to acquire IGO's Forrestania Nickel Operation, which will enable a fast-tracked pathway to gold and copper production from its Ravensthorpe project in WA. The agreement includes the existing Cosmic Boy processing plant and equipment, infrastructure, inventories and information including mineral rights other than nickel and lithium. This is a key plank in Medallion Metals' (ASX:MM8) plan to make a Ravensthorpe final investment decision in late 2025 that will transform it into WA's newest gold and copper producer. What makes the deal attractive is that there's no upfront or deferred cash consideration with the company granting IGO (ASX:IGO) a net smelter royalty of up to 1.5% on all future gold production from the tenements as consideration for the acquisition. It allows the company to preserve its circa $29m in cash reserves to progress multiple work streams such as testwork, feasibility studies and permitting activities to support the FID. IGO also retains the right to explore for, develop and mine nickel and lithium minerals over the tenements. 'The company now turns its focus to the development of a new gold and copper producer in Western Australia,' managing director Paul Bennett said. 'Bringing the established high-grade gold-copper resources at Ravensthorpe together with the Forrestania plant and infrastructure can unlock significant value in the short term, with a substantial option on future growth from the new discovery potential of the tenure at both Ravensthorpe and Forrestania. 'Study work is at an advanced stage, permitting is being progressed as a priority and discussions continue to advance positively with offtake and finance parties.' The acquisition is subject to several conditions including MM8 preparing and announcing a feasibility study, entering into a binding unconditional debt facility agreement and/or funding commitments, and reaching FID on the project. Ravensthorpe project The ~300km2 Ravensthorpe project is centred on the historical Kundip mining centre midway between the regional centres of Ravensthorpe and Hopetoun. It benefits from excellent infrastructure and is easily accessed by sealed roads with a sealed airstrip 10km to the south of the project. Resources currently stand at 19.2Mt grading 2.1g/t gold and 0.3% copper for contained resources of 1.3Moz gold and 56,000t copper. A scoping study completed in December 2024 estimated the project could produce 336,000oz of gold and 13,000t of copper from a production inventory of 2.7Mt grading 3.9g/t Au and 0.6% Cu, over a mine life of 5.5 years. This will generate pre-tax free cash flow of $498m using a base case assumed gold price of $3615/oz and copper price of $5.54/lb, which increases to $637m at a gold price of $4000/oz and copper price of $6.15/lb. The Forrestania Nickel Operations and Ravensthorpe gold project. Pic: Medallion Metals Given that gold prices currently stand at about US$3352/oz ($5177.44/oz) while copper is priced about US$4.40/lb ($6.80/lb), these figures can be considered to be fairly conservative. Forecast average all-in-sustaining cost is estimated at just $1845/oz of gold inclusive of net by-product credits while total pre-production capex is expected to be about $73m including mine establishment and process plant modifications. Pre-tax NPV and IRR is estimated at $329m and 129% respectively in the base case with payback expected within just 12 months Establishment of the proven, industry standard process route of gravity-flotation-CIL at Forrestania is expected to deliver high gold recovery of 98% and copper recovery of 80%. MM8 notes there's plenty of upside as the initial production inventory represents just 44% of existing sulphide resource (gold) with existing shallow drilling indicating the potential for further mineralisation at depth. There is also potential for commercialisation of its oxide and transitional resources (10.3Mt at 1.6g/t gold for 520,000oz of contained gold). Next steps The company is currently working with IGO to finalise ancillary agreements and progress towards transaction finalisation and closure. It expects to release an updated resource estimate in August that incorporates the results of the recently completed 17,000m drill program along with metallurgical recovery and metal deportment assumptions that will inform the feasibility study. MM8 has also materially progressed process engineering associated with planned modifications to the Cosmic Boy flotation plant. It will now begin placing orders for long lead time items inclusive of a secondary ball mill. Additionally, the company has submitted all additional information requested by the Department of Climate Change, Energy, the Environment and Water following its determination that the project will be assessed under preliminary documentation following its referral under the Environment Protection and Biodiversity Conservation Act 1999. Work has also started on submissions under the Environmental Protection Act 1986 while negotiations with potential offtake and finance parties are ongoing with MM8 expecting to mandate a preferred offtake and finance partner to work on an exclusive basis to establish binding concentrate offtake terms and finance terms. This article was developed in collaboration with Medallion Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
ABC News
an hour ago
- ABC News
Australia's most dangerous home-grown conspiracy theory
So Jeffery Epstein probably wasn't a Mossad spy. But online conspiracies like this pop up closer to home too. Could Israeli intelligence have been involved in Australia's most traumatic mass shooting? There are people who think so. In this bonus episode of If You're Listening, Matt is joined by Conspiracy Nation author Cam Wilson, who breaks down the pervasive PA96 conspiracy about the Port Arthur massacre. Cam Wilson and Ariel Bogle's book Conspiracy Nation is out now. Follow If You're Listening on the ABC Listen app. Check out our series on YouTube:
The Australian
an hour ago
- The Australian
OzAurum extends Cross Fault high-grade gold discovery across 400m
RC drilling at Cross Fault delivers gold intercepts across 400m strike Multiple zones identified, with mineralisation open at depth Follow-up drilling being planned with a resource in the works Special report : Results from ongoing RC drilling at OzAurum's Mulgabbie North project has confirmed multiple zones of gold mineralisation in fresh rock over a 400m strike, enhancing the scale at the emerging Cross Fault discovery. Around 17 holes for 1858m were carried out at the Cross Fault zone with high-grade intercepts now returned over a 400m strike. The aims of the program are to confirm earlier drilling results and test for gold mineralisation. Wide zones of pyrite and arsenopyrite mineralisation were observed in RC drill chips from multiple RC drill holes indicating gold potential at depth. Standout results include 10m at 2.18g/t gold from 85m, including 2m at 6.09g/t from 85m and 2m at 3.12g/t from 93m, as well as 21m at 1.22g/t from 33m, including 1m at 5.45g/t from 43m and 1m at 11.41g/t from 53m. An additional hole, MNORC 275, drilled at Golden Goose intersected 10m at 0.18 g/t Au from 15m and even though significant mineralisation wasn't intersected at depth, OzAurum (ASX:OZM) believes the target is prospective for further testing. Drilling for a resource now in the works OZM CEO and managing director Andrew Pumphrey said the RC drilling results from the Cross Fault discovery were highly encouraging, confirming the presence of significant high-grade gold mineralisation in fresh rock across a growing strike length. 'Importantly, the mineralisation style we're seeing – brittle sandstone-hosted with strong sulphide and quartz veining – is analogous to major deposits at Carosue Dam just 2km away,' he said. 'With mineralisation open at depth and along strike, we're now planning follow-up drilling aimed at delivering a maiden resource at Cross Fault. 'In parallel, we're excited to progress drilling at Heysen's Find, where high-grade rock chip samples have pointed to another promising gold target within our tenement.' Cross Fault building momentum OZM has been building momentum at the project since unveiling a high-grade gold hit of 20m at 3.57g/t from surface in February. That news triggered a fivefold share surge, re-rating the company from below $5m to its current ~$18m valuation. Gold prices at ~$5,000/oz in Australia are fuelling major tailwinds for OzAurum, strengthening its cash position, enabling exploration and drilling, and enhancing project value. This article was developed in collaboration OzAurum Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Sponsored Nova Minerals has released a conceptual processing flowsheet for its 1.24Moz RPM deposit in Alaska. Sponsored Rhythm Biosciences has announced that its second-generation ColoSTAT blood test detects colorectal cancer consistently across all stages of the disease.
