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I came across Terrain Minerals Limited  (ASX: TMX) while I was at the 2024 Sydney RIU Conference. After looking at the projects, the story really caught my curiosity. Over the years, I have learnt that all mineral exploration companies have what I call a hidden intrinsic value that always appears to be negative on the surface. If you have been in the industry for three decades, you have seen your fair share of Princes and Princesses and Ugly Ducklings. Terrain has an interesting twist of a Rare Earth project that shows some early indications of Gallium mineralisation. Gallium is a much sought-after metal and this alone makes it worthy of more than just a courtesy look. The second project that is interesting for Terrain Minerals Limited is the Lort River project, an Albany-Fraser Belt tory that is perspective for magmatic nickel-copper mineralisation. There have been many companies chasing another Nova-Bollinger but none has been able to replicate that success. Terrain Minerals is taking a different look and a new pair of eyes could make a difference. Check out this Samso Insight with Justin Virgin, Executive Director of Terrain Minerals who gives us a summary of the projects. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

The copper sector is now starting to build and the anticipation for a copper boom is well and truly setting in concrete. It feels like the market is finally in sync with the narrative of copper being the next dominant player in the metals race. Pricing on copper may now appear to be on the increase, but if you take into account the potential risk of a supply crunch, the price of copper could go even higher from its all-time high now (Figure 1). Figure 1: Price chart of copper. (Trading Economics) QMines Limited (ASX: QML) is one of the companies in the Australian Stock Exchange (ASX) who are trying to showcase an investment scenario of potential investors. Currently at AUD14M market capitalisation, this company has just completed a Pre-Feasibility Study (PFS) which seems to be indicating a compelling case to be the next copper producer. The PFS is showing a CAPEX of AUD192M, a Net Present Value (NPV) of AUD373M and an Internal Rate of Return (IRR) of 54% with a 10.4yr Initial Mine Life with a 1.8 year payback. These are pretty soft numbers which are indicating a strong case of what QMines is trying to complete. These figures are not set in concrete and may change but it does have a good start to the downstream journey for QMines. For those who are looking at these numbers and thinking that it is attractive, I caution a good old case of DYOR as always. This Samso Insight is a good summary of the QMines story. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

West Australian explorer, Terrain Minerals Ltd  (ASX: TMX) is advancing the exploration and development of its highly prospective mineral projects across Western Australia, with a strategic focus on rare earth elements (REE), gold, and critical minerals like Gallium (Figure 1).  At the heart of Terrain's portfolio is the Smokebush Project, where the company is spearheading exploration for high-grade clay-hosted REEs and Gallium mineralisation, along with gold.    Figure 1: Terrain Projects location map (Source: TMXpresentation)   The Smokebush is a proven host of high-grade clay-hosted REEs and Gallium in an emerging mid-west REE district.  In addition, the company has also confirmed REE and Gallium across its Lort River Project.  A key feature of this project is the Nova-style "eye" feature, where an airborne EM survey is expected to identify nickel-copper ore bodies similar to those at the Nova mine, acquired by IGO in 2015.  Furthermore, the company also has “high quality” lithium, gold/copper and REE projects in the pipeline across Western Australia and Queensland.  TMX shares are currently trading on the ASX at A$A0.004 with a market cap of $A4.29 million (Figure 2).  Figure 2: Terrain Minerals (Source: Asx.com )   Smokebush Project: Gold – REE - Gallium   Located in the Yalgoo mineral field north of Perth, the Smokebush project covers an expansive area of 300 square kilometres (Figure 3).  Here, Terrain is conducting advanced exploration, focusing on high-grade Clay REE and Gallium mineralisation.   The project has yielded promising results, with assay reports from its maiden drill program expected soon.   This will set the stage for a Mineral Resource drilling program scheduled for June 2024 and a maiden mineral resource estimate to be delivered in the December quarter of 2024.  Figure 3: Smokebush Project highlights (Source: TMX Presentation)   Lort River Project: Targeting Nickel and REE   The Lort River Project represents a significant potential for discovery, mimicking the geological characteristics of the renowned Nova nickel-copper mine.   This project, covering 320 square kilometres near Esperance, has already shown signs of substantial REE presence and features a Nova-style "eye" feature identified through aeromagnetic data.   An airborne EM survey kicked off last week aiming to delineate conductive bodies potentially indicative of nickel-copper sulphide deposits.  Figure 4: Lort River Project highlights ( Source: TMX presentation)   Strong capital position and leadership   Terrain maintains a strong financial position with no debt and a capital structure designed to support its expansive exploration initiatives.  The leadership team, led by executives such as Justin Virgin and Xavier Braud, brings a wealth of experience in geology and corporate governance, driving the company's strategic vision forward.  Future outlook and exploration milestones   Terrain Minerals is poised for a transformative phase with several key activities lined up:  Smokebush Project: Upcoming assay results and the subsequent drilling program aim to confirm and expand the known mineralisation zones.  Lort River Project:  The ongoing EM survey and follow-up drilling are geared towards confirming the potential for substantial nickel-copper deposits.  Expansion into Critical Minerals:  With the exponential growth in demand for semiconductors, Terrain’s focus on Gallium could position it as a key player in diversifying the global supply chain away from dominant producers like China.  With a robust exploration pipeline and a strategic focus on critical minerals essential for the tech and renewable sectors, Terrain Minerals Ltd represents a forward-thinking enterprise within the mining industry.   Thoughts from Samso Mineral Exploration companies are not unique and there about 800 listed companies which sit in that space. What makes these companies attractive is normally hidden from the public space. The average investor looks at these companies from the surface and bases most of the investing decisions on the projects that they market, the names of the management and the basic financials such as share price, market capitalisation and the enterprise valuation. In my three decades of working in this sector and spending the last 15 years in the corporate sector, I have to say that unless you are in or are associated with what I call the "Purple Circle" or the inner sanctum of the major investors, everything else pales in significance in terms of the safety of your investment. Hence, you may be thinking right now, what can we look at if we are not the privileged few that are in the Purple Circle? The one thing that the Purple Circle needs is a good story. The story is one that has two main features, the technical and the narrative aspect, or rather the current of incoming sentiment. I have spoken to the company and from the surface (I am not in or associated with the Purple Circle), the strategy seems legitimate. Exploring the potential of Gallium for the sentiment is a great way and the search for high-grade nickel sulphide is perfect. High-Grade nickel sulphides may smell now but the future is still going to need nickel and I personally feel that the Green Nickel time is coming. The continuous degrading of the environment in Indonesia cannot continue and it will start to clean up as time passes. The cheap labour of China is a prime example. 30 years ago, labour was cheap and over the last 15 years, China's labour has been expensive which has driven the manufacturing into other South-East Asian nations. Australia is regarded as a Tier-1 ESG nation and the chase for Gallium and Nickel Sulphide, in my opinion is setting up terrain for the perfect storm. The projects looked technically positive and the management appeared to be legitimate. We have done a Samso Insight discussion and that will be released soon, so look out for it. Support Samso Insights If you find the content relevant and you see some value for yourself, please support us by joining our Paid memberships or simply support us by helping us with a monthly contribution. We aim to continue giving independent commentaries, and your support helps us maintain that level. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Taiton Resources (ASX: T88)  is progressing with detailed exploration activities at its recently acquired Kingsgate Project in New South Wales, where a revaluation of historical data has identified potential high-grade quartz reserves.  Situated 20 kilometres east of Glen Innes in the New England Batholith, the area has a rich history of mining, primarily for molybdenum and tin, but is now being evaluated for its quartz potential (Figure 1).  Spanning 307.6 square kilometres, the Kingsgate Project encompasses two exploration licences in a region known for significant mineral deposits.   Historical outputs have included substantial quantities of tin and molybdenum, estimated at 300,000 tonnes and 450 tonnes respectively.  Figure 1: Taiton's Kingsgate Project within the New England Batholith (Source: ASX release)   High-Purity Quartz Pipes   A revaluation of historical data from Auzex Resources, which led exploration efforts from 2004 to 2010, highlighted the presence of high-purity quartz pipes (Figure 2).  Figure 2: High-grade molybdenum in quartz pipes (Source: Taiton Resources Limited)   These pipes were initially targeted for their molybdenum and bismuth content but are now recognised for their valuable quartz composition Figure 3.  The geological makeup of the Kingsgate area includes the prominent Kingsgate Leucogranite and Red Range Microleucogranite.   These rock units host the quartz pipes that are central to the current exploration focus, particularly along the intrusive margins of the granite.  Figure 3: Kingsgate Diamond Core - Quartz. (Source: Taiton Resources Limited) Leveraging Past Data   Building on the groundwork laid by Auzex, Taiton Resources is leveraging extensive past geological mappings, soil sampling, and geophysical surveys.   These efforts encompassed comprehensive drilling programs and sophisticated 3D geological modelling, which are critical to the current detailed assessment phase.  Noel Ong, Executive Director of Taiton Resources, stated, "The journey for that comes with the granting of the tenement. We at Taiton are excited about the potential of the Kingsgate project. The projected rising demand for both Molybdenum and high-grade silica gives us the confidence of moving the asset forward into production.   "The team accepts that this path is not going to be easy technically, but the greatest asset of the project is that Auzex has done a significant amount of work towards the same pathway which will reduce our potential operating expenses. " Looking ahead   The company's approach is to re-examine the previously mined quartz zones to assess the quality and extent of the quartz deposits more accurately.   This step is crucial for planning the subsequent exploration and potential development stages.  As Taiton Resources continues to explore Kingsgate, the focus is on mapping the extent of quartz mineralisation comprehensively (Figure 4).   This includes searching for new clusters of mineralised pipes to potentially expand the project's scope and enhance geological understanding.  Figure 4: Goodwins Quartz Pipe. (Source: Taiton Resources Limited) Role of Quartz   and High Purity Quartz (HPQ) Quartz, a crystalline mineral primarily composed of silicon dioxide (SiO2), is distinguished by its remarkable physical and chemical properties, making it one of the most versatile and abundant minerals in the Earth's crust.  Renowned for its aesthetic diversity, quartz appears in several forms—from pure, transparent rock crystal to richly coloured varieties like amethyst, citrine, and rose quartz. Its wide range of applications extends from decorative items to practical uses in various industries.  In the realm of technology, High Purity Quartz is indispensable due to its piezoelectric properties, which enable it to generate an electrical voltage in response to mechanical stress.   This quality is crucial for its use in solar panels, semi-conductors, watches, clocks, and advanced communication devices, where precise timekeeping is essential.   Additionally, quartz's ability to withstand extreme temperatures and resist corrosion makes it an ideal material for laboratory glassware, electronics, and optical instruments.  The durability and non-reactivity of quartz also make it a popular choice for architectural and domestic applications, such as countertops and other surfaces that require longevity and ease of maintenance.   These attributes underline the importance of quartz in both everyday applications and high-tech equipment, making it a key material in modern engineering and manufacturing.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Over the last six months, Recce Pharmaceuticals Ltd (ASX: RCE) has experienced a notable surge in its share price, climbing nearly 50%, as the company advances its innovative treatments through significant clinical milestones, gaining substantial backing from the US Department of Defence as well.  The company is at the forefront of developing a new class of synthetic anti-infectives aimed at combating the global health crisis posed by antibiotic-resistant superbugs.  Recce's shares are currently trading at A$0.66 apiece, reflecting a market capitalisation of A$134.6 million.    Figure 1: Share price chart (Source: ASX)   Clinical milestones propel growth   Recce has made considerable progress in its clinical programs, notably in its UTI/Urosepsis Phase I/II trial, which showed promising minimum inhibitory concentration (MIC) activity (Figure 2).  The trial is poised to advance to the next dosage increase shortly.   Meanwhile, the company's Diabetic Foot Infection (DFI) clinical trial has also reached a new phase.   After demonstrating treatment efficacy, the trial is set to expand into a Phase III registrational trial in Indonesia, scheduled to kick off in the September quarter of this year.  Figure 2: Recce’s pipeline (Source: RCE Website) Extensive pathogen resistance testing   In a strategic collaboration with Linnaeus Bioscience, Recce is testing flagship RECCE® 327 (R327) against over 300 pathogen strains across the ESKAPEE group, which includes 198 Gram-negative and 111 Gram-positive bacteria strains.   Hannah Tsunemoto PhD, Chief Operations Officer at Linnaeus, led the testing and confirmed, “R327 is effective against all strains tested at MICs.” This includes strains clinically isolated from diverse sources such as wounds, blood, urine, and sputum.  In further studies, R327 demonstrated no induced resistance when tested against a Multi-Drug Resistant (MDR) strain of Escherichia coli over 31 days, highlighting its robust anti-resistance properties.  Support from the US Department of Defence   A significant endorsement of Recce's treatment platform came from the US Department of Defence, which recommended RECCE® 327 Gel (R327G) as a topical treatment for Burn Wound Infections, with proposed grant funding amounting to US$2.2 million (approximately A$3.34 million).   This support underscores the potential of Recce's products in addressing critical medical needs.  Looking ahead, Recce plans to submit an Investigational New Drug (IND) application to the US Food and Drug Administration (FDA) in the latter half of 2024, following promising data from its ongoing clinical trials.  Gaining international recognition   Recce has also recently achieved international acclaim, having presented at significant events such as the Biomedical Advanced Research and Development Authority (BARDA) and the World AMR Congress 2024.  The company received sponsorships from both the Western Australian and New South Wales governments for its participation in the BIO International Convention 2024.  Scaling production to meet demand   This month, Recce enhanced its production capabilities, successfully manufacturing 5,000 doses weekly of RECCE® 327 under Good Manufacturing Practice (GMP) standards.   This scale-up was facilitated by temporarily relocating manufacturing equipment to a third-party cleanroom-GMP facility. Arthur Kollaras, Recce’s head of manufacturing, expressed his enthusiasm: "We are thrilled to announce the successful batch completion of human pharmaceutical grade R327, representing a crucial step forward in our mission to address the global threat of antimicrobial resistance."  The GMP certification, which covers all aspects of production, is vital in ensuring the consistent quality of the medicine, crucial for patient safety and treatment efficacy.  Universal mechanism of action    Recce’s anti-infectives exhibit a universal mechanism of action that maintains their efficacy even against hyper-cellular mutations of bacteria and viruses, addressing a critical gap in current treatment options.  The company continues to advance its clinical programs and expand its product pipeline, the company is well-positioned to meet the increasing global demand for effective treatments against 'difficult to treat' bacterial infections, including those resistant to traditional antibiotics.   This trajectory not only enhances its market presence but also solidifies its role in shaping the future of anti-infective therapies.  About the company   Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) is developing a New Class of Synthetic Anti-Infectives designed to address the urgent global health problems of antibiotic-resistant superbugs and emerging viral pathogens.  Its anti-infective pipeline includes three patented, broad-spectrum, synthetic polymer anti-infectives:   RECCE® 327 is an intravenous and topical therapy that is being developed for the treatment of serious and potentially life-threatening infections due to Gram-positive and Gram-negative bacteria including their superbug forms;   RECCE® 435 is an orally administered therapy for bacterial infections; and   RECCE® 529 for viral infections.   Through their multi-layered mechanisms of action, Recce’s anti-infectives have the potential to overcome the hypercellular mutation of bacteria and viruses – the challenge of all existing antibiotics to date.  The FDA has awarded RECCE® 327 Qualified Infectious Disease Product designation under the Generating Antibiotic Initiatives Now (GAIN) Act – labelling it for Fast Track Designation, plus 10 years of market exclusivity post approval.  Further to this designation, RECCE® 327 has been included on The Pew Charitable Trusts Global New Antibiotics in Development Pipeline as the world’s only synthetic polymer and sepsis drug candidate in development. RECCE® 327 is not yet market-approved for use in humans with further clinical testing required to fully evaluate safety and efficacy.  Recce wholly owns its automated manufacturing, which is supporting present clinical trials. Recce’s anti-infective pipeline seeks to exploit the unique capabilities of its technologies targeting synergistic, unmet medical needs.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.Own Research (DYOR), this may guide you to make an impact on your financial future. Coffee with Samso Experience

According to recent research by Straits Research, the global molybdenum market is anticipated to grow from USD 4.4 billion in 2022 to USD 6.82 billion by 2031, registering a compound annual growth rate (CAGR) of 4.07% during the forecast period of 2023-2031.   This substantial growth is primarily fuelled by the increasing demand for molybdenum across various industrial sectors due to its unique properties and applications.  Notably, the demand for molybdenum is driven by the booming steel production in China, the world's leading steel manufacturer.   Molybdenum-containing stainless steels are increasingly favoured over other grades due to their superior corrosion resistance, critical for industries like construction and automotive. These sectors are thriving in China due to urbanisation and industrial growth, thus propelling the demand for molybdenum.  Moreover, the energy sector is creating significant opportunities for the molybdenum market.   As the global shift towards renewable energy sources gains momentum, the demand for materials used in the construction of solar panels, wind turbines, and other renewable energy infrastructure is increasing.   Therefore, Molybdenum plays a critical role in these applications, particularly in thin-film photovoltaic cells where it is used as an absorber layer to enhance the efficiency of solar energy conversion.  In the spotlight: Taiton Resources   In Australia, molybdenum is not produced as a primary metal; rather, it is often a byproduct of copper mining.   However, Taiton’s  projects are changing this landscape by targeting molybdenum as a primary metal.  The company has two key assets prospective for molybdenum, both situated in Australia.  In New South Wales, the Kingsgate Molybdenum and High-Purity Quartz project, acquired in January 2024, stands out as a key asset.  Previously operating as a high-grade Molybdenum-Bismuth mine, Kingsgate is poised for a return to production under Taiton’s stewardship, aiming to capitalise on its historical success.  Historically, this region has been a significant producer of tin and molybdenum, with estimated historical outputs of 300,000 tonnes of tin and 450 tonnes of molybdenum, primarily during the late 19th and early 20th centuries (Figure 1).  Figure 1: Taiton Kingsgate Project Location (Source: Website)   In South Australia, the company’s Highway project has also demonstrated prospectivity for molybdenum amongst other metals.  Situated in the renowned Olympic Dam Province, the Highway project holds the potential for uncovering large-scale, economically viable deposits of molybdenum, gold and Ni-cu-PGE (Nickel – copper -platinum group elements) (Figure 2)  Exploratory efforts in 2023, including an Ultra-Fine sampling program, uncovered significant molybdenum mineralisation at Merino, with subsequent drilling confirming the scale and continuity needed for economic viability.   Building on these findings, Taiton's 2024 exploration strategy involves shifting focus from Merino to explore other prospects with potential for preservation and richer mineralisation.   This includes the Garfield Prospect and new areas like Pluto and Snoopy. These efforts are part of a comprehensive plan to evaluate the region for a variety of mineralisations, including precious metals, base metals, and rare earth elements.  Figure 2: Location of Taiton’s Highway Project. Region-wise, Asia-Pacific is the leading contributor to the global molybdenum market and is expected to maintain its dominance with a projected CAGR of 4.64% throughout the forecast period.   The region benefits from robust industrial activity and significant investments in automotive and electronics sectors backed by supportive government policies aimed at boosting domestic manufacturing.  Europe is also showing promising growth, with a projected CAGR of 3.04%. Germany, in particular, as the largest automotive manufacturer in Europe, is a significant user of molybdenum in vehicle production.   The anticipated increase in commercial and industrial construction projects is expected to further drive the demand for molybdenum-based steel alloys in the region.  In summary, the global molybdenum market is poised for significant growth due to its critical role in modern industrial applications.   With increasing investments in infrastructure and renewable energy, coupled with the ongoing industrialisation in Asia-Pacific, molybdenum's market outlook remains robust and promising through 2031 and beyond.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Far Northern Resources (ASX: FNR) is gearing up for significant exploration and drilling across its gold and copper assets in Northern Queensland and the Northern Territory, following a successful IPO. The company’s flagship Empire Project recently returned high-grade assays of up to 12.64% copper and 4.12 g/t gold, indicating promising mineralisation and strong production potential. With a robust exploration pipeline, including the Bridge Creek and Rock Reef projects, Far Northern Resources is well-positioned for near-term growth. For investors looking to tap into high-grade copper and gold prospects, Far Northern Resources offers a compelling opportunity. Find out why by subscribing to Samso Insights on Patreon now. Three types of membership on Samso Insights Choose one or more: FREE : These insights  are free and available to all investors. Subscribe here  for free. PAID MEMBERSHIP : If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research . PAID ARTICLES : Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

Coffee with Samso Episode 190 is with Richard Brescianini, Executive Director of Heavy Rare Earths Limited (ASX: HRE). Over the past two years, the journey to comprehend the intricacies of the Rare Earth sector has been limited. The sudden surge in the REE sector has been clouded by a lack of understanding. Our initial encounter with the Rare Earth narrative on the Samso platform was a conversation with Brett Hazelden from OD6 Metals Limited. We all know that the Rare Earth story is not new. Companies such as Arafura Rare Earths Limited (ASX: ARU), Hastings Technology Metals Limited (ASX: HAS), Lynas Rare Earth Limited, and Northern Minerals Limited (ASX: NTU) have been actively involved in this industry for over a decade. There has been a recent surge of interest in the sector, specifically in Clay-hosted Rare Earth projects. These projects are focused on developing metallurgical flow charts, with the "ionic" styles leading the way. In simpler terms, the discussion revolves around whether the deposits are refractory or non-refractory. The learning journey in this field has been well-documented in various Coffee with Samso conversations, with recent Rare Earth stories. According to Richard Brescianini, we have overcome the hurdle of Ionic and Non-Ionic and are now entering the business end of the story. In this episode, Richard gives us an update on the Mineral Resource upgrade and what the numbers mean in terms of the business for Heavy Rare Earths Limited. Samso's Conclusion Heavy Rare Earths Limited is steadily progressing towards the production of a Rare Earth product, which will ultimately generate revenue for the company. The recent upgrade of the Mineral Resource demonstrates HRE's capability to become a significant player in the industry. Richard Brescianini, who possesses extensive knowledge of the sector, emphasises the importance of maintaining a Tier 1 grade for the materials processed in the plant. With his expertise, Richard will anticipate and overcome potential obstacles faced by all participants in this field. His experience will be crucial in attracting buyers for HRE's product. For those interested in gaining insights into the business aspects of the Rare Earth Elements (REE) sector, I highly recommend watching this informative Coffee with Samso interview with Richard. Chapters: 00:00 Start 00:20 Introduction 01:07 Richard updates 03:08 An upgrade in resource and grade 06:21 A natural mineralisation cut-off 06:47 What investors need to understand about resource grade and mill grade 07:43 Are there more high-grade pods in your project? 12:03 Grade/Thickness and Grade/Tonnage Curve 17:08 Is there a sweet grade spot in the project? 19:06 Metallurgical Flow Sheet 20:21 New metallurgical drilling samples 21:37 Aim to produce a mixed REE carbonate for potential customers 22:27 Giving reasons for potential customers to invest in HRE 22:59 Strategy to Brand HRE to potential customers 24:21 Branding HRE as a real REE producer 25:46 The market of REE, the upside, the current price of REE, and why it's rising 29:25 What is the sweet sustainable price for REE? 30:38 Upgrade in Mag REE for HRE 31:29 The importance of Magnetic REE 32:39 Recovery results tend not to change very much 33:29 Other projects 34:49 Exploration Target for Cowalinya - Pending 35:10 Why buy HRE? 37:43 Focus should be on the business 38:59 Conclusions PODCAST About Richard Brescianini Executive Director Richard commenced his career in mineral exploration with BHP Minerals in 1987 working in teams focused on the discovery of base and precious metal deposits across Australia and North America from offices in Brisbane, Perth, Toronto and Denver. Richard’s experience extends further, including his time working as the Director of the Northern Territory Government’s Geological Survey in Darwin, and being part of the executive management team for rare earths developer, Arafura Resources. About Heavy Rare Earths Limited (ASX: HRE) Heavy Rare Earths Limited (ASX:HRE) is an Australian rare earth exploration and development company. Rare earth materials are used in a wide array of technology and future facing applications, including smart phones, wind energy, and hybrid and electric vehicles. HRE’s key exploration project is Cowalinya, near Norseman in Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28Mt @ 625ppm TREO and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths. The company has completed a 441 drill hole program confirming widespread occurrence of shallow, thick and/or high grade rare earth mineralisation. The Company anticipates a Mineral Resource update and an estimate Exploration Target for the project in Q3 2023. Cowalinya Project - Western Australia The Cowalinya rare earth project is located 70 km south-east of Norseman in Western Australia. It comprises a single 230 km2 exploration licence E63/1972 on unallocated crown land hosting dominantly granitic type rocks in the Central Biranup Zone of the Albany Fraser Orogen. The mineralisation being targeted is shallow, flat lying, supergene concentrations of rare earths present in the weathering profile overlying granitic basement. This mineralisation is similar in style to southern Chinese ionic rare earth clay deposits, the world’s main source of heavy rare earths. Although this type of rare earth deposit is low grade, low-cost open pit mining and simple inexpensive metallurgy make them profitable to exploit. The Cowalinya area was primarily chosen on the basis of historical drilling which indicated the presence of anomalous rare earths in fresh bedrock and higher grade supergene concentrations of rare earths in the overlying in-situ weathered saprolite profile. In June 2021 HRE drilled 109 aircore holes at Cowalinya by HRE discovered significant supergene concentrations of rare earths in two areas, Cowalinya South and North. The rare earths mineralisation, occurring as flat lying sheets within the in-situ clay-rich weathered saprolite, is contained within an average ~8-9 m thick layer which starts ~17-18 m below surface. Independent resource consultant JMCT Consulting was engaged to prepare and report Cowalinya’s maiden Inferred Mineral Resource estimate for the project in accordance with the 2012 JORC Code: 28 Mt @ 625 ppm TREO (Total Rare Earth Oxides) using a 300 ppm TREO-Cerium Oxide (CeO2) cut-off grade. Importantly, the resource has a desirable rare earths composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths, and very low average concentrations of radioelements (15 ppm ThO2, 5 ppm U3O8). Mr John Tyrrell of JMCT Consulting is the Competent Person for the Cowalinya Mineral Resource estimate (in accordance with 2012 JORC Code). TREO = La2O3+CeO2+Pr6O11+Nd2O3+Sm2O3+Eu2O3+Gd2O3+Tb4O7+Dy2O3+Ho2O3+Er2O3+Tm2O3+Yb2O3+Lu2O3+Y2O3. Magnet REOs = Pr6O11+Nd2O3+Tb4O7+Dy2O3 ; Totals may not add due to rounding ; Reported above a TREO-CeO2 cut-off grade of 300 ppm The resource at Cowalinya remains open in all lateral directions and currently covers only a small proportion (<1.5%) of the project tenement. Preliminary metallurgical test-work on 40 samples from the 2021 drilling program shows the rare earths are successfully brought into solution using a weak hydrochloric acid leach. Recoveries of >90% for some of the rare earths have been achieved. Upgrade of Mineral Resource Resource Exploration and Expansion Drilling Program – 2023 The Company has successfully completed a 441-hole resource exploration and expansion drilling program at Cowalinya (refer to ASX announcements). These assays confirmed the widespread occurrence of shallow, thick and/or high-grade rare earth mineralisation in clay-rich saprolite over a 14 x 3-kilometre area west and south-west of the Cowalinya South deposit (Figure 1). This Western Zone discovery is open to the north and northwest, has an average thickness of 11.3 metres, and includes the following significant drill intercepts (on a grade-thickness basis) reported during the quarter: 19 metres @ 3190 ppm TREO from 16 metres (AC225) 10 metres @ 2087 ppm TREO from 17 metres (AC221) 26 metres @ 1201 ppm TREO from 19 metres (AC360) 17 metres @ 1069 ppm TREO from 11 metres (AC223) 42 metres @ 790 ppm TREO from 12 metres (AC226) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. 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Taiton Resources Ltd  is accelerating its mineral exploration efforts and opening production pathways across Australia, emphasising the development and discovery of significant mineral deposits. The company's strategic focus lies in exploring and developing projects within New South Wales, South Australia, and Western Australia, each selected for their significant mineral potential (Figure 1).   Figure 1 : Taiton Portfolio ( Source: Taiton Website) In New South Wales, the Kingsgate Molybdenum and High-Purity Quartz project, acquired in January 2024, stands out as a key asset. Previously operating as a high-grade Molybdenum-Bismuth mine, Kingsgate is poised for a return to production under Taiton’s stewardship, aiming to capitalise on its historical success. In the renowned Olympic Dam province of South Australia, Taiton Resources is advancing the Highway Project. With exploration activities ramping up since early 2023, the project holds potential for uncovering large-scale, economically viable deposits of molybdenum, gold and Ni-cu-PGE (Nickel – copper -platinum group elements). Also in South Australia, the Challenger West Project is exploring high-grade gold and other minerals, including Uranium and Rare Earth Elements. Located in the established Challenger Gold province, this project has demonstrated promising preliminary results through studies and exploratory fieldwork, suggesting a strong potential for significant mineral discoveries. The Lake Barlee Project in Western Australia is another strategic endeavour by Taiton, focusing on gold exploration. The project is modelled on the geological features of the well-known 2.6-million-ounce Big Bell deposit, located in the Cue region, indicating substantial prospects for gold findings. Moving forward, Taiton has kicked off its 2024 exploration program with sampling programs initiated across its Highway and Challenger West Projects – which will remain its focus. Kingsgate High-Grade Molybdenum Project The Kingsgate Project, positioned within the prolific New England, spans over 15,000 square kilometres across northern New South Wales and south-eastern Queensland. This exploration territory, a mere 20 kilometres east of Glen Innes and approximately 600 km north of Sydney benefits from its proximity to significant infrastructure and accessibility via major highways (Figure 2). Figure 2: Kingsgate Project location (Source: ASX release) Historically, this region has been a significant producer of tin and molybdenum, with estimated historical outputs of 300,000 tonnes of tin and 450 tonnes of molybdenum, primarily during the late 19th and early 20th centuries. The geological framework of Kingsgate features two primary rock units: the Kingsgate Leucogranite and the Red Range Microleucogranite. These formations are crucial to the area's mineralisation, hosting a diverse array of metal deposits including molybdenum, bismuth, tungsten, and tin. The landscape is notably punctuated by 109 molybdenum-bismuth quartz pipes, which are aligned in clusters along the eastern margin of the granite, suggesting a highly fractionated magmatic environment conducive to rich mineral deposits. Extensive exploration activities have been undertaken by Auzex Resources Limited between 2005 and 2010, following earlier explorations by entities such as Carpentaria Exploration Co. and A.O.G. Minerals. Auzex’s comprehensive exploration programme encompassed detailed geological mapping, rock chip and soil sampling, as well as advanced geophysical surveys like radiometric and gradient array IP/resistivity (Figure 3). Figure 3: Simplified Geology of Kingsgate with soil and rock chip sampling completed by Auzex Resources Limited ( Source: Auzex Resources) The initiative also included significant drilling efforts, with over 318 reverse circulation drill holes and 12 diamond drill holes, collectively exceeding 15,000 metres of drilling depth aimed at extensive 3D modelling of the quartz pipes and their associated mineral layers. This robust suite of exploration techniques has not only confirmed the presence of significant mineralisation but also refined the understanding of the complex geological interactions within the Kingsgate area. The strategic combination of historical data and modern geoscientific methods has rendered the Kingsgate Project a cornerstone of potential economic and scientific development, presenting a compelling case for continued investment and research in this mineralogically diverse region. Highway Project Located 590 kilometres from Adelaide and 186 kilometres north of Port Augusta, the Highway Project traverses a strategic area bisected by the Stuart Highway. The project remains the primary focus for the company, as it plans a “systematic” exploration of it through 2024. Near the essential stopover of Glendambo, the project benefits from accessible roads like Bil La Kalin Road and Hawks Nest Bore Road, with additional support from an all-weather airstrip at Glendambo. Figure 4: Highway Project Location (Taiton Website) This project is characterised as hosting a substantial molybdenum-enriched polymetallic porphyry or an intrusive-type mineral system, previously unrecognised by earlier explorations. The area's geological intrigue is further highlighted by magnetic lineaments east of Lake Labyrinth in the Gawler Craton, interpreted as indicative of basin structures related to intra-cratonic rifting coincident with the Olympic Metallogenic Event. Recent geological reassessment has provided significant insights. Historical drill logs and new zircon geochronological analysis suggest that lower Gawler Range Volcanics are interlayered with older stratigraphic units (Figure 5). This includes zircon grains extracted from shallow depths which imply hydrothermal mixing of fluids enriched in lead, uranium, and rare earth elements. These findings correct previous age datings to around 1598 ± 8.8 Ma, contemporary with the Olympic Metallogenic Event. Figure 5: Distribution of drill holes with re-dated zircons returning a U-Pb age coincident with an OME age-extension. Such new data has both academic and economic significance (Source : Taiton Website) Additionally, a hydrogeochemical survey conducted by CSIRO in the vicinity of the Merino Prospect has identified indicators of an active hydrothermal system at shallow depths. Exploratory efforts in 2023, including an Ultra-Fine sampling program, uncovered significant molybdenum mineralisation at Merino, with subsequent drilling confirming the scale and continuity needed for economic viability. Building on these findings, Taiton's 2024 exploration strategy involves shifting focus from Merino to explore other prospects with potential for preservation and richer mineralisation. This includes the Garfield Prospect and new areas like Pluto and Snoopy. These efforts are part of a comprehensive plan to evaluate the region for a variety of mineralisations, including precious metals, base metals, and rare earth elements. The ongoing exploration aims to enhance the understanding and development potential of the Highway Project, promising to position it as a significant contributor to South Australia's mining landscape. Challenger West Prospect Located in the heart of South Australia's mining territory, the Challenger West Prospect emerges as a significant point of interest within the Gawler Craton, particularly in the Mulgathing Province's Christie Subdomain (Figure 6). The prospect is strategically positioned on gravity ridges that herald the geological intricacies of the area. These ridges form part of the gneissic formations of the Christie Mineral Field, a region known for its complex metamorphic history and significant mineral deposits. Figure 6: Challenger West locations (Source: ASX release) Historically, the discovery of the nearby Challenger Mine revolutionised exploration in the area through calcrete sampling, a method that led to extensive mineral explorations across South Australia for over fifteen years. Despite its past efficacy, recent evaluations have pointed out limitations to this approach, prompting a shift towards more sophisticated geological assessments. Taiton executive director Noel Ong said: “We have always held the view that Challenger West has the potential to not only discover another Challenger Gold Mine but other metals.” The company has kicked off its maiden exploration program at Challenger West. The exploration comprises a reconnaissance ultrafine soil sampling program at an initial three “high priority” prospect areas at the project. The Challenger West Prospect offers a compelling study of the transformational power of high-temperature geological processes. It is believed that the area's gold was initially deposited in Archaean para- and orthogneisses, with subsequent high-grade metamorphic events during the Palaeoproterozoic era reshaping its distribution. These processes, involving partial melting and melt migration, facilitated the formation of gold-enriched leucosomes within the migmatites, creating new avenues for gold accumulation. The current geological models and reprocessed data position Challenger West as a frontier for new gold discoveries. The alignment with historic and geophysical data provides Taiton Resources with a robust foundation to potentially uncover significant mineral deposits. The presence of gravity highs, similar to those found in the Challenger Mine's terrain, offers promising indicators for the prospectivity of this area. Lake Barlee Project The Lake Barlee Project is strategically positioned within the Yilgarn Craton in Western Australia, a region celebrated for its rich mineral resources. The project is notably located on an expansive intermittent playa salt lake, the second largest in the state, approximately 293 kilometres north of Southern Cross and 65 kilometres southeast of Youanmi (Figure 7). This region is underlain by the Southern Cross Granite–Greenstone Terrane, a significant geological feature of the Archaean Yilgarn Craton. Figure 7: Location of Lake Berlee Project (Source: Taiton Website) The area is bounded by contrasting terranes and is traversed by numerous shear zones such as the Youanmi and Yuinmery Shear Zones, which define the highly prospective geological boundaries critical for mineral exploration. Lake Barlee’s geology is predominantly characterised by Cenozoic playa sediments and less commonly by greenstone belts, with the terrane primarily consisting of granitoid formations. Despite limited outcroppings, the greenstones have been identified beneath the lake via aeromagnetic surveys, suggesting hidden geological complexities conducive to orogenic gold mineralisation. Historic and ongoing exploration activities have focused on the potential for gold, uranium, and potash within these formations. Notable explorations include high-grade orogenic gold mining at Halleys East and extensive potash explorations by Parkway Minerals. Recent interpretations of aeromagnetic data by Taiton have further highlighted the potential for significant mineral deposits. The surveys suggest the presence of linear anomalies indicative of high-strain Archean metavolcanic sequences, similar to those hosting the large-scale gold deposits found at the Big Bell mine. The combination of advanced geophysical techniques and the geological setting at Lake Barlee positions it as a promising site for future mineral exploration and potential economic development in Western Australia’s mining sector. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

West Cobar Metals (ASX: WC1) has reported high-grade scandium hits at its Salazar rare earth element (REE) project in Western Australia, positioning itself to capitalise on the growing demand for this "green metal." With notable drill results including 13 metres at 207 ppm scandium, the project highlights significant potential for scalable extraction. Scandium, vital for creating stronger, lightweight aluminium alloys used in aerospace and defence industries, is becoming increasingly valuable, with prices nearing US$1 million per tonne. This blog is ideal for investors interested in scandium, rare earth elements, and critical minerals, offering a timely opportunity to explore West Cobar's strategic advantage in this emerging market. Sign up for your membership on Samso Insights on Patreon now to read the full story. Three types of membership on Samso Insights Choose one or more: FREE : These insights  are free and available to all investors. Subscribe here  for free. PAID MEMBERSHIP : If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research . PAID ARTICLES : Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

Aurumin Limited (ASX: AUN)  is poised for a transformative year in 2024, having overcome the financial hurdles of the previous year.   Brad Valiukas, Managing Director, highlighted the company's refreshed strategic direction following a successful fundraising initiative, which has led to a debt-free and cash-rich position.  The company is now centred on its Sandstone Gold Operations, a project situated 520 kilometres northeast of Perth, emerging as the core of Aurumin's operational strategy.   This project, along with the Birrigrin and Johnson Range Projects, brings the company’s total gold resource to 946,000 ounces positioning Aurumin in the gold landscape (Figure 2).  The company is trading at A$0.048, up a staggering 60% from the start of the year (Figure 1). Figure 1: Share price chart (Source: ASX.com )     Strategic focus and financial health Valiukas underscored the strategic pivot to the Sandstone Gold Operations, which now stands as Aurumin's flagship project. This “hub-and-spoke” operation encapsulates the company’s vision of becoming a significant operator and developer in the region. The company's financial reset in 2023 has paved the way for a series of strategic moves aimed at capitalising on its undervalued assets. According to Valiukas, the market significantly undervalues Aurumin when considering the replacement costs of its gold resources, infrastructure, and developmental potential. This valuation gap presents a unique opportunity for growth and investor engagement as the company advances its operational goals. Figure 2: Aurumin locations ( Source: AUN website)   Exploration strategy   Aurumin has embarked on an aggressive exploration and development schedule at Sandstone.   The early 2024 drilling campaign has been marked by efficiency and strategic targeting, with 38 reverse circulation holes completed, spanning a total of 3,888 metres.   This initial drilling phase tested seven new open pit targets based on multiple geological models, reflecting Aurumin’s commitment to expanding its resource base and understanding of the project’s geology.  The company's exploration strategy is intricately linked to its production aspirations, with the immediate goal of defining and expanding the ore inventory for a potential open pit operation.   The focus is not just limited to existing resources but extends to new targets within the mining leases, all strategically located within three kilometres of the existing processing plant infrastructure, which underscores the operational synergy Aurumin aims to achieve.  On completion of the first pass drilling on new targets (Figure 3), Valiukas said: “Drilling has been efficient and completed ahead of schedule.   “Priority and composite samples will be sent to the lab this week and we look forward to results being returned, and then following up with the next round of drilling.”  Figure 3: Targets at Sandstone. Current Drill Targets in Red ( ASX release)     Market dynamics and gold investment outlook   Valiukas also provided insights into the broader market dynamics affecting the gold sector.   He cited several global economic factors that are reigniting interest in gold investments, including sustained inflationary pressures, geopolitical tensions, and shifts in monetary policies by central banks.  Notably, the discussions around non-regulated digital currencies and the move by some U.S. states to reintroduce gold and silver as legal tender are creating a favourable environment for gold as a strategic investment.  Future projections and investor relations   Looking ahead to the remainder of 2024, Aurumin is optimistic about its operational and financial trajectory.   The company is well-prepared to leverage its enhanced financial flexibility, having retired debts and secured funding for continued exploration.   The strategic disposition of non-core assets like the Mt Dimer Mining Tenements, alongside the progression of the Mt Dimer iron ore transaction, illustrates Aurumin's adeptness at optimising its asset portfolio to fund its core operations.  For potential investors, the company’s focus on operational excellence and resource expansion, combined with strategic asset management, positions it as a resilient and growth-oriented enterprise in the gold mining sector.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Jonathan Fisher, CEO of Cauldron Energy (ASX: CXU) , challenges the prevalent misconceptions about uranium mining and nuclear waste, emphasising its potential for recycling in a recent interview with Noel Ong from Samso . From the get-go, Fisher stresses the importance of distinguishing between uranium mining and nuclear power generation. While uranium mining involves extracting radioactive material, nuclear power generation uses this material to produce energy. Furthermore, Fisher advocates uranium mining and nuclear energy as the solution to help the world decarbonise – especially in a country setting on 28% of world’s reserves (Figure 1). Australia country does not have nuclear power plants, mainly due to a long-standing moratorium on nuclear energy development. Figure 1: Share of global uranium reserves (Source: World Nuclear Association)   Low-level red waste While discussing uranium mining, Fisher points out that it primarily produces what is termed as low-level red waste, distinct from the waste generated through the nuclear fuel enrichment cycle. He elucidates that in uranium mining, the sought-after radioactivity is extracted and sold, resulting in tailings that are less radioactive than the original ore. Fisher contrasts this with mineral sands mining, where the removal process does not reduce the radioactivity of the waste. Consequently, the residual tailings in mineral sands mining can be more radioactive than those from uranium mining, highlighting the relative environmental benignity of uranium extraction processes. Promoting Nuclear Waste Recycling Fisher advocates for the advancement of nuclear waste recycling, seeing it as a sustainable solution for managing the byproducts of nuclear energy production. Fisher played a pivotal role in establishing Australia's first radioactive waste repository, a milestone in the country's nuclear industry.  This initiative not only demonstrates the feasibility of managing nuclear waste responsibly but also sets a precedent for future nuclear recycling and disposal efforts in Australia.   Nuclear Policy in Australia Despite having the largest uranium reserves in the world, Australia is only the fourth biggest uranium producer currently, and ranks fifth for all-time uranium production – with no nuclear power plants (Figure 2). Nationally, Australia does not have a uniform stance on uranium mining; while some states like Western Australia and Queensland have had restrictive policies, others permit it under specific regulatory frameworks. Uranium mining is allowed in the Northern Territory, South Australia, and Tasmania, and exploration is allowed in New South Wales and Queensland – but not mining. Figure 2: Australia’s identified uranium deposits ( Source: Geoscience Australia)   The Western Australian government, led by the Labour Party, reinstated a ban on uranium mining upon coming to power in 2017, affecting new projects but allowing previously approved ones to continue. This policy reflects a cautious approach towards nuclear energy and uranium mining, influenced by environmental concerns and public opinion. At the federal level, Australia's nuclear policy has been more open to uranium mining, export, and nuclear research, albeit with strict regulations and safety standards. However, Australia is a significant exporter of uranium, supplying fuel for nuclear power stations in various countries- accounting for 17% of the energy exports. Fisher remains optimistic that the increasing global emphasis on clean energy will lead to more supportive policies, facilitating the growth of the nuclear sector. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience