I am not as smart as I sound, so please don't listen to me
- Tweets 17,890
- Following 1,124
- Followers 28,831
- Likes 28,408
Well looks like we have our answer on Artemis $ARTG.V now
We are, and have been in hindsight for 18 months, into the middle of the cycle where capital isn’t looking to de-capitalize / harvest from the mining sector and instead realizing there is actually value creation opportunities in the sector
So it’s not about your capital returns (buyback and dividends) but your opportunity set to grow and deploy capital for attractive returns (and of course, you know, execute said opportunities without catastrophic errors)
It’s the first question phrase another way but “what’s your unique / company specific runway to create alpha for your shareholders”
An example (and the koala is open to input here): Artemis with Blackwater has been a brilliant vision and execution, but after the current optimization…what’s “the next opportunity” in that company?
And besides being in Canada so could allow some peers to utilize Canadian tax loss pools not currently being utilized…what’s the lever for a potential acquiror to create incremental value at Blackwater?
So what does Artemis do from here? How does it further drive alpha like it has since buying Blackwater from New Gold (RIP)?
You don’t sell it per se but what’s basis to get new money to buy into it?
There very well may be one, haven’t dug in beyond skimming the latest deck and a few old meeting notes, but that’s sort of where the fresh $ will get trying to decide whether to start digging deeper into the situation
3/n
3
15
7,572
We’ve had a new wardrobe option proposed for Tuesday in the eucalyptus tree
And it’s transformed the whole navy suit/business formal versus preppy chic discussion
7
26
4,093
Some people spend the Friday before Memorial Day Weekend trying to beat the traffic…the Koala spends it using a blacklight to stare at scheelite in the Nevada desert
Pretty clear Blue Moon $BMM $MOON.V has a multi year lead on every other western tungsten project with the mill and APT plant already constructed here on site at Springer
2
1
24
6,955
You have no idea how much new found maturity and professionalism it is taking the Koala to NOT use this meme today
But it would be too easy
It's the mining industry after all, just too many options to choose from
5
33
4,492
Anglo Teck up against Glencore’s ‘hardball’ negotiators to deliver merger gains ft.trib.al/CGG09QB
3
14
8,035
A few links but I’d lead with this from Dustin Perry, CEO of Kingfisher who explores on Tahltan land
The Tahltan despise Doubleview and their management team
Koala can rant about this one a lot
nitter.net/yellowlablife/status/1…
nitter.net/yellowlablife/status/1…
nitter.net/yellowlablife/status/1…
nitter.net/yellowlablife/status/2…
The Doubleview $DBG.V cult and the Koala strongly disagree
The Koala continues to stand by its "all hat no metal" view
But since someone else with massive BC credibility has brought up the park first...
Cheers
The Tahltan aren't letting a mine get built in Sheslay, especially by a CEO who called the RCMP on them and didn't use Tahltan drillers/workers
tsp.tahltan.org/project/tahl…
1
710
Fair points/questions
Obviously some circularity to this with what will costs be and what is the gold price but, the reserves were done at 0.80 g/t cut off and looks to the Koala like a descent amount of 0.40-0.80 g/t material in the PFS open pit so likely more (albeit lower margin) ounces in the PFS than official base case
There is a pushback/strip to be done for a bigger operation definitely but it'll make sense to go get those ounces
And if they can show satellite pit/"regional" opportunity to fill the mill, it'll make sense
1
306
The Koala’s looking forward to the WhiteRock Lithium $WLC.AX IPO on Monday
Giving flashbacks to Corvette in November/December 2021
Proven DMS flowsheet based on metallurgical work already done
The official exploration target is 190-270 million tonnes at 1.2-1.6% Li2O but you look at the work done on the land package so far there is clearly potential for so much more there
Oh and a proven management team led by Simon Hay who previously led both Galaxy Lithium and Leo Lithium
Since March we’ve seen PMET publicly disclose some work around midstream processing steps to be shipping a higher value density product from this area of Quebec, WhiteRock would be a logical other project for any of those applications
This was one of the largest private checks the Koala has ever personally written
The Koala presents “The Sacred…
When people ask the Koala "what was such a great opportunity that the marsupial sold Warrior after several years?"
Well there are a couple things but in terms of new positions one big one in particular (private right now):
5
5
34
11,712
Greenlight from the Nevada regulators for Blue Moon $BMM $MOON.V to get going on restoring domestic tungsten production at Springer by year end 2027
The regulators don't think Springer is a distraction
Blue Moon Metals Secures Water Pollution Control Permit, Approval of Construction for the Tailings Storage Facility, and Posts Reclamation Bond Allowing Start of Construction at its Springer Tungsten Project $MOON.V juniorminingnetwork.com/juni…
2
52
8,349
No eucalyptus trees this far north but that doesn’t stop the Koala from visiting the foothills of the BC coastal mountains to see Berg and Surge Copper $SURG.V
A lot to ponder but the key incrementals for the koala were:
Access - very easy to get to from Smithers on good roads, Berg is basically at the beginning of the mountains not in the middle of them so you don’t have to “drive up the valley to get to the ski resort” or blast tunnels to get to the next valley over
Footprint optimal - flying over the open pit shell you see it’s not a crazy strip and also how clear it is how the pit is above where the mill and tailings will be so the downhill conveyor and flat/downhill haulage from pit to crusher is self evident
Leif had the new head of environmental/social/permitting on the trip and given Jennifer’s 20 years in the BC government it was refreshing to discuss the BC permitting process and get a sense of how it actually works
Recognizing that Blackwater was already permitted when Artemis bought it off New Gold, it makes the Koala laugh how frightened the market seems to be about Berg when basically 100km away Artemis just walked the path Surge is about to and made investors phenomenal returns
5
4
99
10,665
Current management and board trying to change the TNR Gold $TNR.V $TRRXF record date for the AGM the week after it happened?
TNR Gold's Management Team Reinforces Commitment Through Increased Ownership; Company Acknowledges Receipt of Director Nominations $TNR.V tinyurl.com/2d8z5cc7
3
1
21
7,784
How’s that for a new and refreshed TNR Gold $TNR.V $TRRXF board?
Sandra Bates
Michael Horner
Dusan Petković
JC Evensen
AGM scheduled for September 22nd
🔔 NEWS ALERT: Eucalyptus Resources Announces Submission of Four Highly Qualified Director Nominees at TNR Gold's Upcoming Annual Meeting - $TNR.V
ceo.ca/@newswire/eucalyptus-…
10
3
82
14,042
Does this sound like a minister from a government that is going to try to stop Nussir or going to move heaven and earth to make sure Nussir is in production and stays in production?
Bearing in mind there are already 5 mines in Norway doing seabed/fjord tailings disposal
$BMM $MOON.V
Blue Moon Metals Clarifies State of Nussir Project $MOON.V juniorminingnetwork.com/juni…
5
5
47
10,882
Um...Supreme Court case for Nordic Mining was on June 17th...market very clearly digested the news on the day...opened near US$7.50 and the low of the day was US$6.55 and it closed above US$7
Blue Moon $BMM $MOON.V today is ~US$5.30
With copper at a nominal all time high and tungsten still over $3,000/MTU and zinc (remember, the Blue Moon deposit in Californica) >$3,700/t on LME...
Market has priced something in already, probably a major reason why the immediate reaction today has been reversed
$BMM
This is one of the worst examples I have ever seen on market inefficiency.
The Nussir mine is most likely doomed, the supreme court and ESA says the reasons for approving the permits are invalid. How this has not traveled across the pond is beyond me, and even worse, Blue Moon did a bought deal without telling the underwriters or the shareholders.
4
2
29
10,950
Wait until you find out your tweets and other public musings are being included in broker emails to market companies that are peers of one of your holdings instead of the company you are a shareholder in
I'm amazed how spec sales not only include tweets in their institutional investor morning emails but include tweets from the very worst people on Twitter imaginable
2
24
6,947
15 months from the last AGM is September 24th
Need to give 30 days from Record Date...August 24th/25th
Need to provide Notice of Meeting and Record Date 10 days before the Record Date under the abridged timeline
This is is going to be a fascinating next 6 weeks
1
14
3,997
Read it tonight in just one sitting
Absolutely phenomenal, found myself reflecting on my own 20s and 30s path in real time
So many lessons for the 22 year old, the 27 year old, and the 32 year old chasing “the dream” in the western first world
While openly acknowledging these are champagne problems but ironically the fact they are is where the space for so much of the angst apathy and inertia comes from to allow unhappiness to brew and time to just fly by with nothing to show for it personally
Well done Jack @Jack_Raines
1
1
80
13,244
The Koala has trimmed AlphaMoon $AFM.V in the eucalyptus tree because have a couple other investments and uses of capital and this has been such a win it's become a logical source for those funds
The re-rating and performance in the name is a testament to both the quality of the ore body / district and the management team's execution
Crazy to think first bought shares almost 6 years ago at US$0.16/share and the adventure this has been so far
Still here, just not in the same super duper max size it became during 2025
15
96
11,598
Here we go…Twiggy is going to actually do it and make Fortescue an AI / compute play
Better use of the Iron Bridge power perhaps than more iron ore for China
$FMG.AX
Twiggy has the potential to do something hilarious and meme-able
But you all are not ready for the Koala to explain that yet
2
1
18
11,507
This is a very interesting nuance in the Sunrise $SRL.AX / DoW deal if you are a commercial consumer of scandium or a non-US defense company
8
4
31
9,070
Before the Koala tweets the obligatory Sergio SNL gif someone please take Robert Friedland’s phone away so this isn’t jinxed and we copper longs can enjoy this for the day
4
1
62
6,150
The Koala a big fan of just rolling up Freddie Miles style with just an unscheduled phone call or a simple “you got 10-15 next couple days?”
You never know when that 10 minute call turns into a “yea I’m clearing the next hour, we need to finish this topic properly”
1
4
718
You got ink to write road permits but not checks…you want these critical minerals and those penny warrants…
Trilogy Metals Provides an Update on the Strategic Equity Investment by the U.S. Department of War $TMQ.TO tinyurl.com/23bbs53e
2
27
8,865
You generalists will literally fund anything in the sector besides you know actual exploration or mine development
And of all the copper mines…Lisbon Valley…but they rebranded it “Copper One”
6
4
50
7,686
The koala thinks the FT has gotten snookered
Tungsten is likely super low concentrations in the railroad valley brine
If it doesn’t work economically based on the lithium and boron, this tungsten talk sounds like a stretch to juice the economics
It’s not a common commercial way to produce tungsten
Massive US tungsten discovery could run into Nasa roadblock ft.trib.al/ZVBQzyk
3
5
39
12,018
Still own a material (for the marsupial) interest in the Kinross CVR's $KGCRF
This note about the "Strider Zone" in the Kinross 2Q news release along with the first blast for the exploration decline at Great Bear made the Koala smile
1
1
17
3,658
All the Koala has to say on the Surge Copper $SURG.V diesel price assumption debate:
If you are shocked to hear wholesale bulk buyers pay less than retail because they are effectively captive consumers, sorry. That's also why industrial electrical rates are lower than consumer
If you have a problem with Ausenco using a 15 month trailing price, then you should have a problem with the copper price used in the study being <$5.00/lb
Not sure what else to tell you...take out the fact the chart got wacked by Centerra puking their ~8% into the market post-PFS and just look at the fundamentals and what else is out there
It is one of the three or five best greenfield copper development projects of scale in a first world jurisdiction that can take FID in the next 5 years not already controlled by a major miner
Berg
Los Azules (MUX + Rio Tinto)
Taca Taca (First Quantum)
Many will say Gaspe and it is a very fascinating project but the Koala reckons when you see the Gaspe economics in a formal study you'll wonder why it trades at such a premium P/NAV to Surge
Also the register already crowded with strategics
Copper World has Hudbay/Mitsubishi
Pumpkin Hollow OPEN PIT will come public eventually but from memory is <100 ktpa CuEq
Nothing in Australia of scale
Pecoy in Peru is too early stage for this cycle
And look I've been to Altar and I rate the team, but I think Berg is better
Again, what am I missing?
Plug spot copper into any copper producer of scale, it's trading 8-12 spot P/E, which means to own a copper producer you believe in $6/lb copper or higher next 5-10 years
Plug that into Berg...see the Koala's bull case
8
1
50
7,245
Australian: Rio Tinto $RIO CEO Simon Trott says the next supercycle will be driven by data centers
The Koala looking at @moneyofminepod @TRAVmoneyofmine @JDmoneyofmine
2
1
43
4,984
🦔AI companies are bulk-buying rare books, scanning them through high-speed machines that cut the spines off, and shredding the originals. A service called ISBNdb facilitates orders of up to a million books and keeps buyers anonymous. Pre-2022 books are premium because they're free of AI-generated text. A federal judge ruled the practice is fair use because eliminating the original means only one copy exists at a time. Anthropic hired the former head of Google Books partnerships to obtain "all the books in the world."
My Take
This got to me. A bookseller told 404 Media that rare books with almost no surviving copies are being fed into this pipeline. Books that survived wars, fires, and centuries of handling are being shredded so an AI can learn to write a better marketing email.
ISBNdb's website literally says "'AI company destroys two million books' is not a headline that generates sympathy," and they still built an entire business around making it happen quietly. They offer NDAs as a feature. They coach clients to call it "digital preservation."
I've covered AI companies scraping the internet, torrenting libraries, and stealing music. This is worse because it's irreversible. You can re-upload a website. You can reprint a bestseller. You can't replace the last three copies of an 18th-century botanical text once someone shreds them for training data. And the judge said it's legal. So it's going to accelerate.
"We shred rare books and offer NDAs so nobody finds out" is a legitimate business model in 2026. What a timeline.
Hedgie🤗
19
6,292
Calling it right now, Marcelo (the co-chairperson) of Sigma $SGML is buying today via the A10 Global Fund
This is the same vehicle that has actively both BOUGHT and SOLD shares between the end of quarters and the reporting of quarterly results
And even traded within 24 hours of the quarter being reported
They say its in compliance with Canadian securities law but, it has never passed the smell test for the Koala the co-Chairperson is actively swing trading shares of the Company between the quarter end and the reporting of results
Call the Koala crazy but being offline for 10 days, perhaps that July 22 news release from Sigma $SGML should have anticipated that little detail getting out and proactively saying whether or not 3Q guidance is maintained (from JPM conference presentation June 2026)
1
1
11
7,589
Call the Koala crazy but being offline for 10 days, perhaps that July 22 news release from Sigma $SGML should have anticipated that little detail getting out and proactively saying whether or not 3Q guidance is maintained (from JPM conference presentation June 2026)
2
1
17
15,205
The Koala when reached for comment:
TNR Gold Announces Altius' Boost of Its Strategic Stake $TNR.V tinyurl.com/2b5hbo9u
1
1
21
7,906
I don't know where I'm going
But I sure know where I've been
Hanging on the promises
In songs of yesterday
And I've made up my mind
I ain't wasting no more time
Here I go again
Here I go again
Though I keep searching for an answer
I never seem to find what I'm looking for
Oh, Lord, I pray
You give me strength to carry on
'Cause I know what it means
To walk along the lonely street of dreams
Here I go again on my own
Goin' down the only road I've ever known…
1/2
$SGML
7
30
8,057
Freedom comes soon…September 24th is 15 months after the last AGM…everyday is a step closer to freedom
7
1,266
C$181mm?
Today?
Altius Minerals Corporation Announces C$181.5 Million “Bought Deal” Public Offering of Common Shares $ALS.TO tinyurl.com/23qnfxkk
2
35
10,753
Very interesting article flagged to the Koala overnight from 2025
By Hunan Oriental Scandium's own analysis, the only production of #scandium oxide outside of China is Coral Bay, Sorel-Tracy, and Russia
And as @hntrbrkmedia and @CrossroadsOnX both observed, Bloom Energy $BE consumes ~30 tonnes per year TODAY
13 is less than 30 in every version of math the Koala is aware of
5
3
34
18,807
A small band Norwegians go take on an entire South American nation
Let’s Fucking Go!!!
9
1
105
13,425
Very interesting deal seeing South32 $s32.ax getting out of aluminum but semi-serious question like…what is the point of this company anymore and why is it headquartered in Perth?
Valuations on Manganese not the same as copper/silver
Build Hermosa and Trilogy then split into three companies:
Copper / Silver / Manganese?
Sell Cannington?
Sell Manganese?
So many silly first reaction questions from the Koala
3
3
37
13,510