Viking Mines’ (ASX:VKA) first stage metallurgical testing on a sample from its Linka tungsten project in Nevada has delivered a 16-fold increase in grade!
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Market Highlights
ASX 200 futures are pointing down 101 points or 1.1 per cent to 8933.
All US prices near 3.20pm New York time:
- AUD -0.6% to US70.49¢
- Bitcoin -1% to $US68,311
- On Wall St: Dow -0.7% S&P -0.9% Nasdaq -1%
- VIX +1.29 to 22.73
- Gold -3.8% to $US5121.37 an ounce
- Brent oil +3.3% to $US80.30 a barrel
- Iron ore -1.1% to $US98.20 a tonne
- 10-year yield: US 4.05% Australia 4.77%
Across Markets…
Australian shares are poised to fall, even after futures pared more than half of earlier losses, as fears of a widening Middle East war roiled global markets.
ASX 200 futures were down 101 points or 1.1 per cent to 8933 near 7.10am AEDT, after having tumbled more than 2 per cent in the first hour of Wall Street’s trading day. The S&P 500 was 0.9 per cent lower at 3.20pm in New York (7.20am AEDT) – all three US benchmarks recovered from early plunges of at least 2.5 per cent.
At one point, gold tumbled more than 6 per cent, while oil surged more than 7 per cent. Brent crude briefly topped $US85 a barrel. Some analysts are forecasting that oil will spike as high as $US100.
Near 3.15pm in New York, oil had pared its advance to 3.3 per cent, which was attributed in part to President Donald Trump’s social media post that the US would provide risk insurance for all ships travelling through the Gulf and the American navy would begin escorting oil tankers through the Strait of Hormuz.
“The market is no longer assuming a short, symbolic engagement,” wrote Adam Kobeissi, author of The Kobeissi Letter. “Equity markets breaking to new weekly lows are not reacting to a headline. They are reacting to duration risk.”
In a post on X, Robin Brooks, Goldman Sachs’ former chief foreign exchange strategist, said: “Things are getting disorderly very fast. Financial markets are the ultimate constraint for Trump. It was disorderly conditions in the Treasury market that got him to back down vis-à-vis China back in April 2025. We’re moving in that direction very fast.”
Source: AFR
West Coast Silver returns to drilling this month at historic high-grade silver play
- WCE ready for RC drilling this month at historic Elizabeth Hill silver project in WA
- Drilling last year hit a whopping 33,107g/t silver
- Company confident of finding mineralisation extensions
Special Report: West Coast Silver will return to RC drilling this month in a bid to expand the high-grade silver system at its Elizabeth Hill project in WA.
The project is one of Australia’s highest-grade silver projects and has a proven production history, having delivered 1.2Moz from just 16,830t of ore at a head grade of 2,194g/t.
Mining ceased in 2000 as a result of low silver prices (US$5 per ounce) but with prices now sitting around US$90 per ounce, there’s a clear opportunity to find more silver at the deposit, which remains open at depth and along strike.
This 4,000m RC program will target Elizabeth Hill North and South along the Munni Munni Fault – the primary control on mineralisation in the region.
West Coast Silver (ASX:WCE) is looking for extensions of the high-grade mineralisation identified in 2025 drilling, including bonanza-grade silver intersections like 0.35m at 33,107g/t.
The program will also target extensions adjacent to the historic high-grade mine, and with all targets within ~150m of surface, the company sees a great deal of potential for rapid and low-cost resource growth.
The RC drilling contract has been awarded to NexGen Drilling, with drilling expected to take approximately four to six weeks. Assay results are expected during Q2 2026.
Resource estimate expected near-term
The drilling is also designed to support inaugural Mineral Resource Estimate (MRE) in quarter three or four of this year.
“WCE’s diamond and aircore drilling programs have confirmed that the structural system hosting silver mineralisation at Elizabeth Hill extends significantly beyond the boundaries of the historic mine,” executive chairman Bruce Garlick said.
“The identification of multiple near-mine targets supports our view that Elizabeth Hill represents part of a larger silver mineralised system along the Munni Munni Fault.
“This RC program is designed to expand the known strike and depth extents of the deposit, test new targets at Elizabeth Hill North and South, and deliver the systematic drilling required to support the first Elizabeth Hill mineral resource estimate scheduled to be completed in Q3/4 2026.
“With all targets shallow and proximal to existing infrastructure, success would position the company strongly for rapid resource growth and a clear pathway to development.”
Source: Stockhead
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +115%
Company: Eden Innovations (ASX:EDE)
Sector: Construction/Clean Energy
Deal Type: Shortfall
Latest Entry Price: $0.035 with 1:2 option, strike $0.07
Price Performance Since Entry: +271%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Price Performance Since Entry: +292%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +313%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Price Performance Since Entry: +181%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +48%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Price Performance Since Entry: 0%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Price Performance Since Entry: +40%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,136%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Price Performance Since Entry: $0.505 +413%
Company: Noviqtech Ltd (ASX:NVQ)
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +45%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Price Performance Since Entry: +247%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +33%
Company: Kalgoorlie Gold Mining Limited. (ASX:KAL)
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Price Performance Since Entry: +62%
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