Show Notes
We spent the week pulling apart Canyon Resources, and what came out is the sort of story that should worry anyone who has ever held a minority stake in a single asset developer.
A billion tonne bauxite project in Cameroon, a fully funded announcement, and then $170m of equity at 26 cents that simply never arrived.
Four months later the controlling shareholder was offering those same minorities five cents.
In this ep, we discuss: - The Canyon expose - Regis burying a $240m catch-up tax payment, and why quarterly cash builds now flatter every goldie - The dividend round: Alkane's first-ever payout, Genesis surprising, and Northern Star's buyback that probably never completes - Ausgold going to OceanaGold, and why the marginal buyer is no longer the Aussie mid-tier
- Mt Cattlin M&A goss
- Lindian's red flag- Copper's all time run
…………...…
DIRECTOR'S SPECIAL EMAIL Join 18k+ subscribers to the Director’s Special: one daily email with all the news that matters in mining ……………
TIMESTAMPS (0:00) September Kickoff (4:40) Bauxite Project Basics (8:10) Funding Package Announced (14:00) Approval Delays Mount (19:00) March Vote Bombshell (28:10) Canyon Control Squeeze (37:40) Dividends, Taxes, and Costs (47:10) M&A and OzGold Wrap
……………
PARTNERS Sandvik Ground Support – The only ground support you’ll ever need Titan Recruitment – Specialists in engineering and technology recruitmentFocus by Marketech – All your mining news and market needs in one powerful platform | 10-day free trial Exceed Capital – Diversify your portfolio with Exceed’s property funds
……………
FOLLOW & CONNECT • YouTube: @MoneyofMine • Twitter / X: @moneyofminepod • LinkedIn | Instagram | Facebook
……………
JOIN THE GROUP CHAT Join the Money of Mine Discord Server
……………
DISCLAIMER All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our full disclaimer.
More from Money of Mine
M&A whiz Ben Bailey, Portfolio Manager at Harvest Lane, is back.
Alex Turnbull once sent an out-of-work Mongolian translator with a drone to the Chinese border to count coal trucks.
We went hunting for value disconnects with a clock ticking and came up with 10 special situations in ASX small cap resources.
We're hunting far and wide for the best businesses in mining.
Australia’s biggest gold deal is here, with Gold Fields locking Northern Star in its gaze. There's so much to this story. We get into why this isn't a rerun of Gold Road, what Gold Fields does next and whether an NST board mid-CEO transition has the backbone to go it alone. Plus, Lynas strikes an all-scrip deal for Meteoric, and Robert Friedland delivers one of the great keynotes at Mining Forum Americas (MFA). We cover: Gold Fields makes its move