EUCALYPTUS TREE, Jan 3, 2022 (Newswire) 7:00 AM: The koala is an unrestricted free agent There is no pre-contract or handshake on a max deal to be signed on a certain date What will come in '22, let's see, but until then no compliance regime Let the mayhem begin...

Proposed revised headline for Sigma Lithium $SGML : “No One Would Refinance Our Debt With Real Duration on Terms That Wouldn’t Show How Distressed We Are And Equity/Convertible Markets Are Closed to Us” Real talk: a 6 month extension is…not confidence inspiring, that 2027 capex program and guidance for phase 2 probably slipping

Nussir showed very well Seeing is believing, anyone who see this firsthand will understand this is going to be a mine that produces some of the greenest copper in the world for generations to come It’s not a Tier 0 asset (calling a spade a spade) but once producing it’s going to be a very good one with a stupid amount of exploration potential And the other core point, progress continues on site. The noise online isn’t representative of the facts on the ground

The Koala told the Pallas Resources management the recent round was priced far too cheap…

Hats off to the team at Hudbay It’s been a long saga to get to this point at Rosemont “Copper World”

The LME week Monday tradition makes it to year 5 Thank you to everyone who both attended and who came by just for a social call, we know other more important groups have their own events, so your presence is appreciated While the Koala’s co-host led the toast, I mean what I said to close it out This sector is about where interesting assets meet interesting people. And the stories we can write together. So let’s do it for the story

Jet lagged in London, the Koala looks at this announcement… Yea…didn’t buy enough earlier this year

This comment from Bessent should be getting a lot more attention that it is considering the cult around deep sea mining Consider if a NOAA permit (US entity, not UN like ISA) is paired with financing from a supranational financial entity (yes there is an understanding WB run by American, IMF a European but set that aside) That financial package would be a massive implicit blessing of the US permitting system that would transcend the current US administration, which would be a mega political de-risking

It is not going to happen but Does anyone else get the feeling if we wake up in 2028 and Ivanhoe Electric, Ivanhoe Atlantic, and Sunrise are all under the same corporate entity listed in the USA then we really shouldn’t be surprised? There is no tradeable alpha in this observation but seeing Atlantic called a “US Critical Minerals Platform” when it’s a high grade iron ore project using a railway in Liberia just has the Koala wondering what is Robert up to

Let’s…calm down a bit here shall we? No one is buying stakes in copper concentrate producers for that purpose unless you are a Japanese copper smelter Also, remember when Sunrise was a nickel - cobalt primary project with a scandium by product for 6-7 years? The western OEMs never showed up like the hypothesis suggested And when BEV metals were a thing 2022-23, we didn’t see anyone take a stake in Glencore who actually could provide finished refined metals to customers… Everyone chill out a bit

For what it's worth, the Koala has reached out to Lux Metals $LXM.V asking about this potential financing they are flagging today (which is a follow up to an email yesterday saying congrats and "hey I saw the Northern Miner article published less than a week ago...let's talk about that hypothetical raise you mentioned") In all seriousness, I'm not surprised they will be looking to raise but I wouldn't have been blabbing to the Northern Miner about it ahead of the assay results I suspect it will be a sought after placement as well given the initial assay results With that said, and at the risk of not even getting any of the hypothetical placement for calling a spade a spade... Q2 Metals in 2023...you'll recall the Koala was pretty vocal there Prospector last year...it dragged out and market speculated until B2 just stepped in with conviction When you have fundamental momentum, just wrap up a quality fundamental book in a bow and get it done, don't get cute with the market Doubled down yesterday and would participate in a raise, but now that it is publicly acknowledged...

That’s the look of a man who won’t settle for 60/40 anymore…

Small position in the eucalyptus tree but we are puking St Barbara $SBM.AX basically to a zero enterprise value? Really? Are we actually worried about the deal closing?

Just got off a call where the koala and friends pondered if Citrini selling will be the marker of the AI bubble top Wouldn’t be the first bubble he top ticked almost to the quarter

Tweets like this make the Koala sad that Robert Friedland @robert_ivanhoe funded I-pulse & other non-mining exploration things like 5 star hotels instead of a frontier AI lab

Doubled down, we ride the Trans-Taiga highway a third time

Had a 2:30 pm in the calendar the koala is already 25 minutes late to because cannot stop watching this Set aside everything being said here and take a bigger step back… Gavin poached the co-CIO from Lone Pine a month ago and fintwit wondered how, but then we learned Lone Pine roundtripped YTD performance Watching this clip, allocating to Lone Pine today sounds like an interesting idea

The power of passive index flows and benchmark/mandated capital (if you don't want to own banks down under, what can you own in size in the index)... Personal suspicion, the Koala suspects Glencore ASX listing will "help solve this"

Wow, having heard both the bull and bear case for the Roxmore flagship asset, that’s quite the statement of intent by SSR Congrats to the Roxmore team