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Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine

Rockets and Tanks: Forrestania shares skyrocket nearly 290%

On the back of yesterday’s news, several junior explorers ended the day on a high note, including Forrestania Resources (ASX:FRS) which saw its share price skyrocket almost 290%.

Forrestania announced it was entering into the iron ore space via an option agreement to acquire privately held Netley Minerals, which owns a number of iron ore licences in Western Australia. 

The company’s share price was previously trading at $0.019 and surged to $0.074 following yesterday’s announcement. By 2:30pm AEST, it had lost some of those gains, but was still up more than 160% to $0.050 per share.

Gold explorer Falcon Metals’ (ASX:FAL) share price soared 69.75% to $0.27, following a mineral sands discovery at its wholly owned Farrelly prospect in Victoria. 

Falcon, which has a market capitalisation of $28.32 million, conducted an aircore drilling program which confirmed Farrelly as a “high-grade” mineral sands discovery with a thick zone of mineralisation covering 1,200m. 

Kincora Copper (ASX:KCC) has also seen a sudden share price increase by 58.33% to $0.057, following an earn-in deal with AngloGold Ashanti (NYSE:AU). 

Kincora has given AngloGold the opportunity to earn up to an 80% stake in its Northern Junee-Narromine Belt Project in New South Wales by spending up to $50 million. 

On the back of no news, battery metals-focused explorer and developer Morella Corporation’s (ASX:1MC) share price has spiked 50% to $0.003. 

Laggards

Meanwhile, on this week’s laggards list is Sihayo Gold (ASX:SIH) — for the second time in a row — as the company’s share price falls 33.33%.

The company has not released any news since 24 May 2024, when Sihayo recommended shareholders to take no action regarding an off-market takeover offer by Provident Aurum.

Gold-focused explorer Riedel Resources’ (ASX:RIE) share price has also dropped 33.33% to $0.002. The company has not released any news since its quarterly report in April.

Catalina Resources (ASX:CTN) shares have dipped 25% to $0.003, while Admiralty Resources’ (ASX:ADY) share price has slid 20% to $0.008 — both on the back of no news. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Forrestania Resources
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Written By Aaliyah Rogan
Originally from New Zealand, Aaliyah brings several years of experience covering the resources sector, with a focus on companies, commodities and global mining markets. Her reporting has spanned European markets and the evolving global mining landscape, with a focus on the stories and market forces driving change across the sector.