Notice: Dragon Boat Festival holiday

[SMM Gold Flash] Cora Gold reported that fieldwork and three-dimensional plant modelling for front-end engineering design at its Sanankoro project in Mali had been completed. It also completed compensation for 174 hectares required for the planned tailings facility and upgraded the exploration camp, while geotechnical work covered the proposed process-plant and power-station sites. Front-End Engineering Design (FEED) remains targeted for completion in the fourth quarter of 2026. These activities improve construction readiness but do not constitute construction approval: full development remains conditional on Mali granting the required mining permit. Cora previously secured a binding US$120 million gold-stream facility, subsequently amended to permit partial replacement by senior debt.

[SMM Precious Metals Flash] Spot gold fell 0.4% to US$4,325.03/oz on 22 September as markets priced a prolonged period of high US interest rates; US gold futures declined 0.5% to US$4,362. Platinum rose 0.7% to US$1,810.81/oz, while palladium fell 1.1% to US$1,286.91/oz. A day earlier, gold had lost 0.6%, while platinum and palladium gained 0.3% and 0.4% respectively. The movement indicates that interest-rate expectations, the dollar and oil-driven inflation concerns remained the dominant immediate precious-metals drivers. Platinum’s relative resilience did not establish a change in physical PGM fundamentals, and the opposing palladium movement cautions against treating this as a broad PGM-sector rally.

[SMM PGM Flash] Valterra Platinum said four Jameson flotation cells replacing about 44 conventional cells at Mogalakwena’s north concentrator are producing estimated annual savings of R203 million, excluding revenue benefits from any higher metal recovery. The company reported a 70.5 MWh reduction in smelting electricity use, 70,000 tonnes less smelting-related carbon dioxide and road haulage equivalent to about 3,000 fewer concentrate trucks. The cells reduce unwanted material entering Valterra’s smelters without sacrificing concentrate grade or PGM recovery, lowering transport and energy intensity. A study to introduce the technology at Mogalakwena’s south concentrator is well advanced, but Valterra has not yet disclosed a final investment decision, implementation timetable or capital cost.