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As we move into the generation of clean energy, the topic of uranium mining is brewing in Australia, especially in Western Australia. The only state and territory in Australia where uranium can be mined is South Australia and the Northern Territory. The Western Australian government took a stance a few years ago to ban the mining of uranium and this has taken its toll on the industry. However, it does seem that the sentiment to overturn that decision is now softening. The mining industry in Western Australia, by far the biggest player in Australia, is facing one of its biggest changes in 2024 and the change may only be starting. The nickel industry is hemorrhaging with the rise of the Indonesian nickel industry. The dominating nature of the nickel industry in Indonesia has taken the world by storm and the result for Western Australia and the rest of the world is that their own mines are now facing closure and a bleak future for those that are still in operation. The biggest player in the industry in Australia is BHP's Nickel West, which is certainly looking at closure and the loss of jobs and income for Australians. 2024 is absolutely turning out to be the year of changing fortunes for Australia in terms of being the commodity mecca of the world. There are real challenges that are not only restricted to nickel (almost a done deal), but there are also negative sentiments towards lithium, rare earths and finally iron ore. The misfortunes in turn could create the necessary heat to make the Western Australian and in large part the Federal government bodies look seriously at uranium as an alternative mining breadwinner. The World According to Jonathan Fisher Jonathan Fisher is the CEO of Cauldron Energy Limited (ASX: CXU)  and this Samso Insight discussion is a good introduction to the challenges and the deep misunderstanding of the general population to uranium mining. Jonathan comes from a long history within the nuclear world and in this Samso Insight conversation, he is simply stating facts to explain the debate for the mining process and not about the building of nuclear power plants. Jonathan just wants the myths to be taken out of the discussion and I agree with him that the conversations out in the world have been wrong and largely made erroneously to be facts. Samso's Thoughts There is no doubt in my mind now that the mystery of Uranium Mining  and the Nuclear Energy  debate is shrouded by a lack of understanding and the perception created by the anti-mining fraternity (based on personal agendas). The narratives that Jonathan Fisher and all the other proponents for Uranium Mining are made simply to make right the wrongs of the loudest critic. One can argue based on personal preferences but the greater good for uranium mining and hence the use of nuclear energy cannot be made by the few, but it must be made for the greater good of the whole decarbonisation outcome for planet Earth. Listen to the Samso Insight Here 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

Coffee with Samso 194 is all about the Jupiter Rare Earth project and what a way for Andrew Radonjic to start 2024. Venture Minerals Limited (ASX: VMS) has an extremely well-rounded portfolio of projects and the inception of the Rare Earth project a couple of years ago has worked really well for the company. The Rare Earth sector may have come and gone for the ASX, but it has been a breath of fresh air to see the technical success of the Jupiter REE project. Anyone who has been following the ASX REE sector recently will know very well the bearish tone, but those who have been on the Venture Minerals wagon will think differently. You could put Venture Minerals on the top of the list for generating the most interest in the small-cap mineral explorers list. The interest in Venture started with the ASX release on 29th November 2023 (Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program) and the much anticipated second round of results was released on 8th March 2024 (Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm) which generated another rush on the share price. In this episode, Andrew Radonjic gives us an update on the Jupiter Rare Earth project and we discuss why he feels the project stands out from the crowd. Check out the conversation with Andrew Radonjic below: Samso's Conclusion The Samso platform has had the majority of the clay rare earth story on the ASX for the last couple of years. It has been a great journey from the beginning to now, where I could effectively call a mature understanding of the industry. If we are all on the same page, the understanding now is all about the metallurgical results, and the chemistry of extraction. In some way, we all know that the range of results from all the other clay REE players have been pretty consistent. There have not been too many outliers on the good or the bad end of the spectrum. If we consider this thought, the metallurgical results for Jupiter will be within range and there are some similarities to Mt. Weld, then Venture may have found themselves a project that could be more than interesting. As Andrew pointed out in the end, it is all about the location. The drilling results are on the top end of the scale, the location is in proximity to Mt. Weld and the plant by Iluka, the metallurgical results which are still outstanding will most likely come within range or better, and there are no logistical nor administrative obstacles in sight. With all that in mind, the Jupiter project must surely become a jewel in the DYOR category for ASX investors wanting an REE play in their portfolio. I encourage you to watch and take notes because as I have always mentioned on the Samso platform, the one economical project in many non-economical projects that are in the market comes once in a while, and if you can take the risk, do big-time DYOR now. Chapters: 00:00 Start 00:20 Introduction 00:53 Updates on Jupiter 02:46 Discussion about the next drilling phase 04:04 What makes Jupiter stand out? 09:25 VMS in the current market 15:44 About the metallurgy 21:06 What could lift the REE market? 23:53 For investors looking to position themselves in VMS 29:01 Other VMS projects 32:45 News flow 35:59 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling over 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition. Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. 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-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Metals Acquisition Ltd (ASX: MAC, NYSE: MTAL) made a significant impact with its ASX debut on 20 February 2024, raising A$325 million in a heavily oversubscribed IPO, and achieving a market capitalisation of A$1.18 billion. Despite a tough market for mining stocks, MAC shares have remained strong, trading at A$18.50, up from its A$17.00 listing price. The company’s core asset is the CSA Copper Mine in New South Wales, the highest-grade copper mine in Australia, which it acquired from Glencore. Led by CEO Mick McMullen, who has a track record of delivering value through major acquisitions, MAC is well-positioned to capitalise on the global electrification and decarbonisation trends. Investors interested in large-scale mining assets and the electrification metals market will want to read the full story. Subscribe now to Samso Insights on Patreon. 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

Hikmat Salam - Masters in Geology (National University of Malaysia and National Centre of Excellence in Geology, University of Peshawar, Pakistan) A wide range of mineral deposit types are hosted in the New England region of New South Wales (NSW), Australia.  As of the present-day Himalayan-Tibet and Andes mountains, the New England Orogen (NEO) is one such amalgamated tectonic block where the subduction of the ocean, emplacement of ophiolite, accretionary complex, development of serpentinite belt, and intrusion of plutons with a wide range of metallic precipitations have worked and loaded the New England orogen with a broad range of natural commodities (Figure 1).  The plutonic intrusions, ophiolite, serpentinised peridotites, chromitites, and eclogites suggest collisional settings and high-pressure metamorphic conditions in the New England and New South Wales region (Fig. 1).  Such types of settings lead explorationists to study metallogenic provinces.  Therefore, the NEO region was historically under investigation and exploration for mineral commodities including copper, silver, gold, tin, molybdenum, tungsten, bismuth, lead, and zinc.  Industrial minerals including limestone, and gemstones including sapphire, ruby, diamond, quartz, emerald, and topaz were yet another natural commodity in the New England region. Fig. 1. Figure showing the geologic units and divisions in the New England Orogenic system. The geology and tectonic setting of NE orogenic system favour the mineralisation of important mineral suits. (Source: [1]) The major natural deposit systems such as magmatic, hydrothermal, hybrid magmatic-hydrothermal and metamorphic-hydrothermal systems dominate in the southern New England Orogen (sNEO). The Great Serpentinite Belt (GSB) of the sNEO along the Peel Fault and the ophiolite patches host the ancient mineral deposit systems where the dominant rock units include magmatic chromitite and sparse amounts of platinum group metals. The GSB extends to Port Macquarie, where lateritic weathering has produced elevated nickel, cobalt and scandium values, proving assets for further exploration.  The accretionary complex and basement sediments of Carboniferous host massive sulphide base metal deposits and manganese horizons.  Since the New England is an orogenic system (Palaeozoic) and multiple episodes of deformation have deformed the rocks, exploration for base metal deposits in the accretionary complex and basement sediments is therefore complicated.  In addition to base metal deposits, these host rocks also contain several intermediate orogenic (metamorphic) gold and antimony deposits. The gold-antimony-tungsten system at Hillgrove is a thick stockwork-type deposit with over 200 individual veins and has been exploited for over 110 years (Fig. 2).  The favourable geologic setting of these deposits is characterised by the concentration around major structures and intrusive (contact metamorphosed rocks). Late-stage lamprophyric and felsic dykes in the same structures occur as the hydrothermal gold - antimony rich veins. Fig. 2. Figure showing the location of the Hillgrove project in the New England Fold belt. (Source: [2]) The magmatic, hydrothermal, and magmatic-hydrothermal systems host a wide range of metallic minerals including tin (i.e. veins and disseminations in and around the Mole Granite), Mo-W-Bi pipes (e.g. Kingsgate, Deepwater) and Intrusive-Related Gold Systems (Timbarra and possibly Glen Elgin).  Most of the mineralising granites are highly fractionated I-type granites and most are Late Permian to Early Triassic in age. Molybdenum The Australian government listed Molybdenum and Bismuth in the list of 30 critical minerals, which are essential for energy and security purposes. Molybdenum has a broad range of applications including heavy use globally in the development of digital technologies, electronic appliances and electrical vehicles, and computer gadgets, and is aimed to boost the green energy transition.  The prices are going higher as per the hike in demand. Molybdenum-based materials have attracted widespread attention as they are a novel type of green energy storage devices in the superconductors. The historic Kingsgate Molybdenum project is still an asset for investors to put their financial and scientific efforts into revolutionising this globally demanded natural commodity.  The historical work on the Kingsgate project in the late 1880s and early 1900s was revived by Auzex Resources Limited between 2005 and 2010.  This has led to the recent interest by Taiton Resources Limited (ASX: T88)  to look at the project again as market conditions have changed significantly with the decarbonisation and electrification evolution (Fig. 3). "The Kingsgate high-grade molybdenum project  has a lot of historical work completed by Auzex Resources Limited and this will allow Taiton to work more efficiently to take the project to the ultimate goal of creating a producing asset." - Executive Director, Noel Ong. Fig 3. Figures (a and b) show the location of the Kingsgate Molybdenum project in the NEFB executed on the two leased blocks (ELA/6702, ELA6699/EL/9636). (Source: [3] and [4]) The Geologic and tectonic setting of the NSW and NEO promise resource potential for high-grade molybdenum in the thick hydrothermal and magmatic-hydrothermal settings.  A broad range of plutonic rocks, extrusive and dykes including lamprophyres, granites, granitoids, dacites and andesites are pockets for such metallic mineralization (Fig. 4), especially for the Intrusive Related Gold Deposits. Fig. 4. Figure showing the geologic units and positions of key metals under exploration at the Kingsgate high-grade molybdenum project. (Source: [3] and [4]) Intrusive Related Gold Systems (IRGS)  Intrusive Related Gold Systems (IRGS) are newly defined gold deposits associated with moderately reduced, I-type, intermediate to felsic intrusions. The deposit style is zoned and centred on a central mineralising intrusion. The hydrothermal fluids mineralising such types of gold deposits are usually carbonic to rarely saline. These systems are commonly associated with convergent plate margins and the New England Fold Belt (NEFB) is a typical convergent tectonic setting favouring the development of IRGSs (the Tooloom project) (Fig. 5). The IRGSs are characterised by variably a combination of Au with Bi, Mo, Te, W, As, Sn with low sulphide content i.e. <5%, and lack of iron ores (magnetite and haematite). The mineralisation styles are commonly in the form of sheeted veins and stockworks, breccia pipes, disseminated deposits, skarns, and distal base metal-bearing fissure veins.  The gold and molybdenum contents vary along the vertical zonings, with gold anomalies concentrated at shallower depths and molybdenum anomalies at deeper depths. The shallower systems are characterised by breccias and carbonate alteration zones are associated with depths. Laterally, Bi and stibnite are concentrated close and at distal parts of the deposits, respectively. However, these criteria for IRGS and its characteristics are significantly in contrast to the Cu-Au porphyry deposits, though some overlap in the orogenic settings. Fig 5. Figures (a and b) showing the defined gold deposits in the NEFB of Eastern Australia with proven IRGS deposits (the Tooloom project) and the IRGS zoned deposit style with lateral variable anomalies of metals (i.e., Au, Bi, Sb, etc), disseminations, breccias, contact metamorphosed zone, and veins network. (Source: [5]) The IRGS model is defined in a few orogenic belts around the world including the Paleo-Tethys closure (deposits in China, and Kazakhstan) and in the NSW (in the NEFB). Some examples of the intrusion bodies in the NEFB are the Nundle Supersuite, the Uralla Supersuite, Moonbi Supersuite, the Gundle Belt, the Clarence River Supersuite, the Coastal Belt and various unnamed leucogranite intrusions. Veins, stockworks, greisens, pipes, skarns and disseminations are some common deposit styles associated with these intrusions.  The Kingsgate Mo-Bi deposit (pipes, veins, and dissemination), the Glen Eden Mo-W-Sn deposit (breccia pipes and stockworks) and the Taronga Sn deposit (sheeted veins) are examples of intrusion-related deposits in the NEFB. The widespread occurrence of IRGS-affiliated mineral deposits and the presence of gold systems with the IRGS association, combined with the favourable granite geochemistry, highlights the IRGS prospectivity of the NEFB. Gold stocks as an important part of any investment portfolio, can offer investors exposure to the market without holding any physical gold. Most investors are not familiar with intrusion-related gold systems.  These gold deposits are lower grade, but their large tonnage makes them some of the most productive assets in the world. That means they can be highly attractive prospects for gold-focused companies. However investing in gold-focused companies requires due diligence, as well as an understanding of the factors that can bring these entities success. 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 Reference: 1. Hugo K.H. Olierook, Jasmine Gale, Franco Pirajno, Fred Jourdan, Christopher L. Kirkland, Noreen J. Evans, Bradley J. McDonald, Mark Krejci, Qiang Jiang, Anusha Shantha Kumara, Celia Mayers, R. Adam Frew, Hugo Kaag, Brent I.A. McInnes, Terminal tectono-magmatic phase of the New England Orogen driven by lithospheric delamination, Gondwana Research, Volume 106, 2022, Pages 105-125, 2. Larvoto Resources Limited: https://www.larvottoresources.com/projects/hillgrove-gold-antimony 3. Investing News: https://m.au.investing.com/news/stock-market-news/taiton-resources-ltd-eyes-production-path-at-the-kingsgate-highgrade-molybdenum-project-3147246 4. The Market Bull: https://themarketbull.com.au/2024/01/16/taiton-resources-submits-application-to-acquire-the-kingsgate-project/amp/ 5. McKay, B. A.. “Intrusion-Related Gold Systems in the New England Fold Belt – The Tooloom Example.” (2006). https://www.semanticscholar.org/paper/Intrusion-Related-Gold-Systems-in-the-New-England-%E2%80%93-McKay/78e44d8e2794b71bd71f52e725bcbf7020bf9ff5 d71f52e725bcbf7020bf9ff5

As we welcome 2024, one of the most anticipated settling of dust conversation is what is happening with the lithium sector. Is there going to be a resurgence like that of 2019?  Is this the end of the lithium rush? Is this the beginning of the process of the balancing of demand and supply? The past four years can be referred to as the Lithium Years, as there was a significant focus on lithium as a commodity. Investors on the ASX were heavily investing in stocks and taking advantage of the volatility, often without sufficient knowledge. Those who failed to question the technical aspects may have missed out on potential profits. As the lithium sector began to slow down, an article highlighted that many investors had overlooked the fundamental geological aspects of projects during the lithium bull run. The writer mentioned numerous examples of geology that would not have sustained long-term success, but these concerns were largely ignored. Consequently, there has been a lot of negative commentary about companies and doubts about the sector's validity. The writer suggests that this is a common occurrence after a period of intense market speculation, similar to the previous three years. Figure 1:  Pilbara Minerals Limited (ASX: PLS) price chart over the last 5 years. Pilbara Minerals Limited (ASX: PLS) is industry standard if one wants to see the valuation of a lithium mining company.  As usual,  when one looks at a price chart of a producing business,  the chart looks positive.  However, when you look at Figure 2,  which is a chart of both a hard rock and a brine lithium story, which is largely based on the hype, which has no relevancy to the geology and the factual data of a long term sustainable story, it's a different view. Figure 2:  A common price chart of lithium explorers over the last 5 years.  The top chart is one of a brine story and the bottom relates to a hard rock proposition. As I have been, and am currently involved in ASX companies and am well aware of the promote, I am not pointing fingers at anyone.  My point is that there is a need to first understand the geology and then look at the potential of the story. Not all stories will work and not all stories make the first hurdle of discovery. What I think about the Future for Lithium During this time of year, it is common to hear predictions that demand will increase after Chinese New Year. While there is some truth to this, the bottleneck and high pricing in the lithium sector are not helping its prospects. In my opinion, the optimistic outlook that was prevalent in the early stages of the lithium journey has significantly diminished for the medium to long term. However, it is worth noting that a future focused on China is likely to have great potential. My belief in a reduced blue sky perspective stems from the current narrative that the market will witness the emergence of sodium and vanadium batteries in the near future. Although it may take time for the timing and market acceptance to align, there is enough information available to suggest that these power storage solutions will meet the demand. It is undeniable that these new players will have a place in the market. Figure 3:  Illustration of the various electrode structures in sodium-ion batteries (Source: By Jang-Yeon Hwang, Seung-Taek Myung, Yang-Kook Sun, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=61410788 ) . The truth is that the lithium story, like any other story, has taken many years to unfold. It may seem like an overnight success, but it has actually been a long time in the making. Therefore, it is reasonable to assume that the new players in the battery storage market, such as sodium and vanadium variants, will also face a similar reality. However, if lithium prices remain high or rise again, alternative and replacement options will emerge more quickly. The ultimate factor that will determine the success of these battery storage alternatives is time. However, history has shown that betting against a market driven by China has been a poor choice in the past. Final Thoughts The lithium market is a crucial component of our daily lives, much like hydrocarbons. While there is a growing movement to reduce the use of hydrocarbons and plastics, it is important to recognise that completely eliminating them would have severe consequences for our world. The continuous growth of the electric vehicle (EV) industry serves as a strong indicator that the lithium market is here to stay. However, this growth also means that there will be a consolidation in the industry, leading to the removal of underperforming projects by various ASX companies. As a result, early players with exploration projects in their early stages may face challenges. Decreasing Lithium Price The decrease in pricing is likely a result of an excess supply due to concerns about reduced Chinese subsidies, rather than a breakdown in the lithium industry. This is commonly referred to as "destocking" in technical terms, and I believe it holds true in this case. It is important to remember that lithium itself is not rare, but finding economically viable deposits is what is truly rare in all commodities. The demand for lithium is driven more by the desire to meet unrealistic timelines and the bottleneck in the downstream process. There is a significant disconnect between investors' rush for profits and the actual understanding of the commercial aspects, as evidenced by the stark contrast between how companies present their downstream processes and the reality of the Chinese process. There is a good interview by Kitco Mining entitled " Lthium supply disappearing - Rodney Hooper on why $1,200 per tonne is a key level of support " with Rodney Hooper.  It goes through with great detail the status of the lithium pricing issues. What Does This All Mean for Investors? For those investors who may have missed out on the recent surge in the lithium market or have experienced losses along the way, now is a favourable time to reassess certain stocks and position yourself for the next five to ten years. It is widely acknowledged by credible investors in the media that investing is a marathon, not a sprint, so I won't dwell on that topic. However, I can confidently say that 2024 presents a second opportunity for investment. There are numerous stocks that offer great potential for positioning. Among the small-cap companies, there are a few that I personally find intriguing and believe are worth considering. Please note that this is not a recommendation to purchase these stocks, but rather an illustration of compelling stories that have already proven their worth or have the potential for success. 👉🏻 Delta Lithium Limited (ASX: DLI) Delta is one of those stories that have a lot of promise but in a falling market interest, they are going to be facing cash reserve issues. They have a big operation so if they are going to go into a cash-saving mode, it will be interesting. The share price has taken a battering and I fear it may still have more to go. The project has had some issues and they have been working through it the last couple of years, but with the low pricing, you would have to be cautious on the entry price.  For this reason, I think there may be more downsides to come. What I like is that if there is a resurgence of the price, this will be one of the stories that will reap rewards. In my opinion, this is one of the more promising stories on the market.  DYOR is a must and keep them on your watch screen. 👉🏻 St George Mining Limited (ASX: SGQ) This is a pure greenfield play and as much as I am not bullish on lithium exploration plays, they have a good corporate partner, Shanghai Jayson New Energy Co. Ltd.  Shanghai Jayson New Energy is the largest shareholder in the company and I am sure they are looking to consolidate in this space.  That means they should have no further funding issues. This does not mean that they are guaranteed to find an economic lithium resource.  However, it may mean that they will have sufficient resources to give their exploration program a better chance of finding the elusive prize. Their portfolio looks substantial but balancing their funds on the spread of projects will be interesting. Samso Concluding Comments I haven't closely followed this sector due to its rapid and intense fluctuations. I felt that there was little time for a proper understanding of  projects or technical assessment. Everything was new, including the methods of exploring lithium. However, I am now interested because the market has re-valued these stocks, making it easier to identify technically attractive options without the distractions of an excessively heated market. I believe that the sector will regain balance, and rational discussions will prevail. The transition to a decarbonised and electrified world is inevitable. Renewable energy and mining will play a crucial role in shaping our future. The importance of lithium and its associated metals cannot be denied. I have chosen Delta Lithium and St George as examples because they represent opposite ends of the lithium spectrum in terms of mineral exploration stories. Delta is at the forefront, having made a discovery and now focusing on developing a downstream process. On the other hand, St George is just beginning its exploration journey but is well-funded, which is a significant advantage. Take your time, make wise choices, and now is a good opportunity to DYOR and enter this space with confidence, knowing that the previously overheated valuations are in the past. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. We are always asking the questions that may sound simple and irrelevant, but these are typically the ones that make sense to you, the one seeking the knowledge.   Our mission is simple:  cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso News Samso Insights There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page  and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. 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.   Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments.   Click  here to download this eBook . Download eBook 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 at noel.ong@samso.com.au . 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

The Havieron discovery, made by Greatland Gold Plc in 2018, is now nearing production in a joint venture with Newcrest Mining . Located just 45km from Newcrest’s Telfer mine, the project benefits from using existing infrastructure, significantly reducing costs and environmental impact. The Havieron deposit holds a strong Probable Ore Reserve and Mineral Resource, positioning it as a promising gold and copper mine in Australia. This blog explores the journey behind the discovery, highlighting the challenges, perseverance, and exploration techniques that led to success. Investors interested in exploration success stories and high-potential gold-copper projects will find this a compelling read, offering insight into one of the most exciting discoveries in recent years. Sign up for your membership on Samso Insights on Patreon now to access more exciting investment stories. 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

Experienced investors are well-acquainted with our Coffee with Samso and Samso Insights. The new Samso Insights has deeper, thorough research and invaluable perspectives from industry experts, along with Noel Ong's impartial viewpoints that are crucial for investors' analysis. There are three kinds of insights to meet investors' needs Investment has changed in a big way. Samso has created a platform for passionate investors to explore their interests and hear from important companies in different industries that are making a difference. If you struggle as an investor to find a platform that gives you the latest and most reliable information from experienced sources, then the new Samso Insights platform solves this problem by offering independent content that is completely unbiased.  Choose one or more FREE : These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP : Starting from US$10/month, you get access to the latest and most reliable information from experienced sources, that are completely unbiased. Start accessing these exclusive content to help with your investment research . PAID ARTICLES : Trustworthy source of well-researched and independent information for investors. Each article can be unlocked from US$10. Clarity and confidence in investments Samso Insights on Patreon is a platform that offers exclusive access to industry knowledge and advancements across various business sectors. It provides timely information and updates in one place, giving serious investors a competitive advantage.  Members can immerse themselves in a world of insights that go beyond the ordinary, learning from influential CEOs and thought leaders who are shaping industries.  If you're a dedicated and passionate investor, it's time to embrace a bolder approach and take your investment knowledge, experience, and skills to the next level with Samso Insights as a Member. ------ 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 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.

The mineral exploration sector on the ASX offers investors the potential for massive returns, fuelled by speculation and optimism. While the post-pandemic surge created a bull market where gains seemed effortless, it’s crucial to remember the cyclical nature of this sector. Before the pandemic, raising funds was a challenge, but the landscape shifted dramatically with a flood of investment following the global economic disruption. Mineral exploration plays a critical role in future-proofing society by sourcing essential commodities like lithium, copper, and rare metals that are vital for electric vehicles and renewable technologies. Investors in this sector are driven by the potential demand for these resources and the scale of discoveries. This blog is ideal for investors seeking to understand the ups and downs of mineral exploration and the long-term value it holds, especially in light of the growing demand for critical minerals. Sign up for your membership on 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

As we move into 2024, gold is regaining prominence after being overshadowed by critical metals like lithium. Currently priced at $2039 USD/oz, gold has risen by 8.70% in the past year. Known for its role as an investment hedge against inflation, gold is influenced by factors such as the US dollar, central banks, economic uncertainty, and global demand. The post-COVID era, marked by economic instability and government monetary easing, has boosted gold prices as investors seek a safe haven. In Australia, a country rich in untapped gold resources, mining companies like Northern Star Resources, Gold Road Resources, and Resolute Mining are benefiting from this resurgence. Gold’s historical ability to shine in times of economic uncertainty presents a unique opportunity for investors, whether in blue-chip gold stocks or smaller cap opportunities. This blog is perfect for investors looking to capitalise on gold’s rising popularity as a reliable hedge and valuable tool in uncertain economic times. Sign up for your membership on 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 192 has Andrew Radonjic talking Rare Earths at the Jupiter project. Venture Minerals Limited (ASX: VMS) is now at the crossroads of emerging as a Rare Earth player in what is a complex and ultimately future-proofing sector. I labeled Venture Minerals as a Targeted Diversified Mineral Explorer in my very first interview with Andrew Radonjic, the Managing Director, way back in October 2020, and this is another prime example of that business approach. The rare earth sector has had a lot of attention in the last 24 months and like all commodities, it is going through turbulent times. Samso has had the greatest privilege to have interviewed many of these stories over time and I see Venture Minerals as an interesting change to the current scene. On the back of the recent announcement by Venture Minerals on the 29th of November 2023, entitled Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program, the company has raised additional funding to work on the project. In the current market, this is a strong vote of confidence for the potential of the Jupiter REE project. In this episode, Andrew Radonjic provides us with his perspective on the project and offers valuable insights into the recent drilling results. By considering the project's historical exploration activities, viewers can gain a comprehensive understanding of why Venture Minerals believes in the future potential of this project. Check out the conversation with Andrew Radonjic below: Samso's Conclusion As I have mentioned, we have had a good amount of content that is related to the rare earth sector, and my thoughts, which are consistent with most commentators, is that every REE project is unique. The key is what is at the bottom line of the project. Does it make money when the cookie crumbles? The Jupiter target is a clay-hosted rare earth project. As Andrew mentioned, there has been limited metallurgical research conducted. However, for our purpose of understanding the project, we are now confident in considering it as a standard clay-hosted rare earth system. While it may not be a one-of-a-kind clay-hosted system, what sets it apart is its logistical aspects, as well as the potential grade and tonnage. Another distinguishing factor is the unique social license. Most of the other projects have to navigate private landowners and existing populations. Although it may not be immediately apparent, I believe that in the long run, this will significantly impact the bottom line. This does not imply that other projects will not be profitable. As I assess the industry landscape, I anticipate that the companies that endure in the long term will emerge as the ultimate victors. Fresh investors with more money in the bank to take positions in the rare earth sector, need to do your DYOR as it will go a long way to becoming a long-term player. Chapters: 00:00 Start 00:20 Introduction 00:54 What is happening with the Jupiter REE Target? 03:56 Does alkaline intrusion play a part in Jupiter? 06:50 Progress on the drilling at Jupiter. 14:11 What sets VMS apart from the others? 25:17 Comments for existing shareholders. 29:37 Why did the recent new investors buy into the VSM Story? 30:57 News flow 33:34 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition. Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. 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-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Investors in the Australian Stock Exchange (ASX) are scattering for cover as global markets went on a volatility roller-coaster the last six months. Last week when people thought that the end was near, the Fed decided to raise even more and that brought markets more heartburn. Investors are now well and truly running into the caves to get an early start to next winter's hibernation. Figure 1 below is a daily chart of the Dow since 2015. The 5th of January looks like the last green bar before the market turned south. There was an attempt to reverse the trend middle of August but that failed as well. What will be interesting to see is if the bulls have enough power to resist the bears now. Figure 1:  The daily chart for the Wall Street Cash chart from Ig Markets. As the world continues to go through rate hikes to curb the inflation yardstick, the equity investors are sitting on the sidelines, licking their wounds or just waiting for the green light from the Investing Gods. Investors, long term investors are pretty comfortable as you can see in Figure 1, the Dow has moved in the right direction for a while since January 2022.  The slope of the bearish tone seem to be flattening which may be a good sign. Meanwhile, in Australian Mineral Resource Small Cap Sector... While the big end of town is pondering the ins and outs or global equities, the small end of town has pretty much gone aground. I tell people that we are now in the good old days. The last two years was an anomaly like the whole COVID story. The market (small cap mineral resource) that we are in now is pretty much what it was like for most of my time (over 30 years) in this sector. When you speak to punters today, the main narrative is that the lithium boom is hanging in there and the REE sector is running second. Nobody is paying attention to gold, copper, nickel and even to some degree the "rest" of the periodic table. Exploration Discoveries are still awakening Investors A recent discovery by WA1 Resources Limited (ASX: WA1)  which was announced on the 26th October 2022 was titled " Discovery of Niobium m-REE Mineralised Carbonatite System " and it has thrown the spotlight into the sector. As you can see in Figure 2 below, the market was definitely excited.  As this is always the ultimate test of relevance, it is a relevant discovery. Figure 2:  The share price chart for WA1 Resources Limited (ASX: WA1). (Sourced from www.commsec.com.au ) I met Paul Savich in May 2022 and we discussed his projects and the potential of coming onto Coffee with Samso  to showcase WA1. I have always liked the Arunta Block as this is one of the very few remaining provinces that has not been "fully" explored. We spoke about how the remoteness of the area has stopped historical explorers from being efficient. In fact, if I am not mistaken, the remoteness and the lack of an agreement with the local traditional owners have completely shut this area from previous explorers. It will be interesting to see how this journey goes for Paul and his team at WA1 Resources Limited.  Irrespective of the journey, this shows that although the market is asleep and anxious, a good discovery, a real discovery is welcomed.  A good discovery will always be a better result than a good nearology play or a flavour of the month play. The Lithium and REE Story I don't think there is any need to say that this is a booming sector. In fact, a couple of very well known identities in the industry were heard laughing at how easy it was for companies in this sector to raise money. They joked at how the word lithium was a guarantee of investment wisdom. Investors need to understand that the lithium industry is no different to any other commodity.  You explore , you  find the resource  but it has to be an economical deposit . As Allan Kelly from Miramar Resources Limited (ASX: M2R)  once said in his Coffee with Samso , you need to find an economical deposit . I don't think the investors out there have put value into the potential economical project.  The scarcity of the commodity, lithium, may force the price up higher but you still need to have an economical deposit. The existence of a pegmatite or some rock chip is not the prelude to an economical lithium deposit. This is the same for the the REE hopefuls out there. To get a good understanding of what the REE industry needs to focus on, have a look at the Coffee with Samso with Brett Hazeldon from OD6 Metals Limited (ASX: OD6) .  Brett has given a great conversation about Investing in REE 101 . This is a great time for the REE players to entrench their tory.  It looks like the dynamics is changing with the government finally making noises of supporting the critical metals sector.  The time for the REE players to shine is now and if the geopolitical overtures are correct, the Non-China governments are finally going to support the Non-China REE story. Gold and the Path Forward There may be an argument if there is a value in gold but people need to understand that, like hydrocarbons, gold is not going away anytime soon. The narrative on gold has come and gone and in my thirty year plus years, this has been up and down like a yoyo. Figure 3:  The weekly price chart for Gold. Sourced from www.gold.org . In a very inflationary time and if you take the geopolitical situation, you cannot ignore the long term thematic of gold. The long term nature of gold as shown in Figure 3 may give a clue as to how it has performed over the many decades. I remember in the mid 1990s, gold crashed from a high of  USD425 to less than USD250.  The gold price in AUD has been performing well since 2014 and seems to be tracking well. What is Happening with Gold Equities? In terms of equities, let's have a look at Newcrest Mining Limited (ASX: NCM)  (Figure 4) and Northern Star Resources Limited (ASX: NST)  (Figure 5). The charts have not been kind to these guys as well, hence, reflecting the sentiment of the market. What is not reflected in the share price charts is that they are still making good money. The margins are still good but investors get spooked by the falling share price. Figure 4:  The share price chart for Newcrest Mining Limited (ASX: NCM). (Sourced from www.commsec.com.au ) As Warren Buffet professes, buy the business and not the share price. He has consistently been telling the public, the business just happens to have a share price as well. It is this kind of thinking that drives one to be positive on companies that have a driven business. In our sector, this means that they are either a promising producer to be or an exploration company that holds a great deal of exploration upside. Figure 5:  The share price chart for Northern Star Resources Limited (ASX: NST). (Sourced from www.commsec.com.au ) What Does All This Mean? When you look at the state of the market, there is a lot of fear and uncertainty. Even the lithium stocks had a bearish tone but only until about mid July 2022 when they seemed to all turn up. In general, these stocks are doing well, and the chart you see in Figure 6 is pretty much what you will see in all Lithium companies. Figure 6:  The share price chart for  Pilbara Minerals Limited (ASX: PLS) . (Sourced from www.commsec.com.au ) One major difference in the chart is that the sharpness in the rise of the rebound post mid July is much stronger for Pilbara Mines because they are one of the only two real lithium producers in Australia. If you look at the small companies with good lithium stories, this rebound was flatter. It was still a rise but less prominent. Gold stocks which used to be the darling of the sector is experiencing the reverse. Copper and Nickel, the other main players in this sector are all experiencing the same trend. Does this make sense? Does the market think that the world only needs lithium? Many commentators are saying that the long term view is still positive for the non-lithium stories. The issue is that the wave of Lithium sentiment is bypassing everything else. The fear from the global financial concerns is driving people out of these markets. My Fear The fear I have for this sector is that like all market darlings, there are those that genuinely have a story and there are those that have an uneconomic story. There are numerous stranded projects of all sorts of commodities in the world. The reason they are still stranded is because it is uneconomical then and is still now. No amount of money spent or no amount of rising commodity price will make them economical. These assets are great for those wanting to mine the market. Don't get me wrong, great wealth has been created with these assets. I don't begrudge this process but when they are in the mass amount that is now in the market, I am worried that when the bubble begins to open up, it will create a bearish wave which this sector will need a long time to recover from. Conclusion Most of us who have been around this sector for many decades will say that we have seen it all. I have been telling people that the last two years was not normal. The sharpness of the price rice and the amount of money raised, that was not normal. The EV Revolution and the need for commodities, now that is new but it is a long term proposition. The long term fundamentals are in place and it will manifest itself soon. The downturn of the market was in some way caused by the COVID restrictions in China and the Ukraine war. The inflationary pressures were always going to come so that threw a spanner in the works. Is there a light shining at the end of the tunnel? Yes, definitely. What worries me is the impending demand rush for lithium because there is not going to be enough lithium to go around. The brine lithium story will also have the same issues as capital for those are high. The demand for copper and nickel will most likely bust soon. As I write, the copper price jumped to $3.71 on the 4th November 2022, which is almost the last high in September 2022. It is still a way to the $4.70 mark in April 2022, but it is a jump which sometimes is the trigger which may spark the market. The last words are, use this time to DYOR and look out for something to take a position.  This level will not be around for long. The market commentary seems to be gaining pace towards some recovery in the near future rather than the opposite. Always remember, Do Your Own Research, seek professional advice and don't take Samso as the gospel truth. :-) 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 Olympic Dam Story: An Insight into the Mineral Exploration Genius of WMC Limited A discussion why understanding mineral systems is important to exploration discovery. The Discovery of Olympic Dam is the next Exploration Discovery story. The story is about the search for copper and is one of the longest searches for a commodity. In 1957, Western Mining Corporation Limited (ASX: WMC) initiated a search for Copper which started a sequence of events that led to the discovery of the largest known mineral deposit in 1976. It would take the company another two years before they understood the magnitude of their discovery. Olympic Dam was the third discovery by WMC in 10 years. The significance of the discovery is that it would be another twenty years before the next big deposit, Prominent Hill was to be discovered. Carrapateena which is the next major discovery in that area was only discovered in 2005 on the western edge of Lake Torrens and only 70km southeast of Olympic Dam. WMC was created in 1933 and was taken over by BHP in 2002. In 2009, Olympic Dam had a resource of 9.1BT of resource and it was 4.4 times bigger than the initial resource that WMC had announced. It was worth USD863B. In 2017, it was reported that there was 120MT of Cu eq (equivalent) and it would take 500 years to deplete the resource at that time. The Story of the Olympic Dam was documented in the book "The Olympic Dam Story" by David Upton. I was able to track down David and arranged to meet him to get his view of the discovery and to talk about his book on this episode of Samso Insights. I hope this episode brings out the essence of the hard work and perseverance of the WMC group to search and discover a once-in-a-lifetime deposit such as Olympic Dam. I am a big believer of mineral exploration. My thoughts are that the low hanging fruits of mineral discovery was a couple of decades ago. One of the key points to take from this conversation with David and from the book is that discoveries are made from understanding mineral systems.  These mineral systems make or break the concept of discovery.  In the book, the key aspect of the discovery was that WMC, with their incredible understanding of geoscience looked out for mineral systems that would host copper. The exploration strategy was to look for these systems that would be "cooking" and hence have the best chance of being mineralised.  WMC had a theory that they need to look for a mineral system that had altered basalts.  These altered basalts would be the deciding factor  that brought about discovery. The giants to be found are all undercover or in areas that have been misunderstood or neglected such as Tropicana, Nova-Bollinger, Winu, Havieron, Julimar, and Fosterville, just to name a few. Check out David Upton's website :   https://precompetitive-review.com/ Video Chapters 00:00 Start 00:20 Introduction 01:36 How it started. 09:21 The journey to look for copper. 12:55 Communicating with shareholders. 15:57 The work culture in Western Mining. 19:35 The search for Mineral Systems. 24:05 Discussion of new technologies and ideas. 27:42 The need for interpretation of data. 30:14 The complexity of the Olympic Dam. 32:52 Political issues of Uranium. 35:06 What drives the exploration? 37:37 The drilling. 39:07 What is David Upton up to these days? 41:04 The vast amount information available. 42:46 Why read the The Olympic Story? 45:51 Summary of the Olympic Dam Story. 49:35 Conclusion Discover more on our Exploration Discovery series. The Discovery of Gruyere. Havieron Gold Copper Discovery Discovery of West Musgraves About David Upton Researcher and writer with a deep knowledge of the resources and energy industries. Geology graduate and author of the well-known mining and exploration history, The Olympic Dam Story. Publisher of Precompetitive-review.com , Australia's only single source of news and analysis on precompetitive geoscience for mineral exploration. 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