FireFly Metals Limited

We have been trimming BHP and Capstone recently, given the strong runs I've had.

And we've been redeploying a bit of that capital into Firefly Metals FFM, so firefly has what we consider to be the best undeveloped copper mine on the asx got 75 million tons at 2.5 copper equivalent it's in newfoundland so i get a t1 mining jurisdictions um we think once the mines built and they're up and running it will be the lowest quartile producers globally so i think you know very well positioned on the cost curve they'll start at about 1.8 million ton per annum producing about 50 000 tons of copper and then there's an expansion plan to take up to 4.6 million tons per annum or about 100 000 tons per annum of copper Now they raised $190 million recently at $1.78 and there's a shared purchase plan currently in the market.

So we are seeing a bit of indigestion and that's the opportunity to top up an excellent stock at a reduced price.

We'll shift gears again.

All right, let's have a look at some of the leaders in a very flat session on the market today, and we talked there about the bid for Austal, the takeover bid, uh, for its US business really heating up, and we talked quite a bit about some of these copper players as well.

Firefly Metals also had a good day, up 3.5%.

The laggards though in today's session included Eagers Automotive, Seek, and Westgold Resources after its, uh, market update.

In the small end of town, these stocks did well, including Resolution Minerals, which was up by 23%, while the laggards included Oneview Healthcare, down almost 13%, and gosh, Corporate Travel continuing to get hit as well, down another 10% to $2.3.

Fairly quiet on the announcement front.

There was some news from some small to mid cap miners, Stanmore Resources, Core Lithium, Firefly Metals and Brightstar Resources.

Also had a monthly activity from the ASX.

It finished up 1.1%.

The leaders, GrainCorp, IAG, Challenger, Darryl Ample Bay Infrastructure off the back of their announcement and ComputerShare.

Having a look at the laggards, Silex Systems, Capstone Copper, Firefly Metals, HyperionX and Zipco.

Having a look at the small cap leaders and laggards, the leaders, Beetaloo Energy Australia, Gateway Mining, Saturn Metals and Fortify amongst the winners today.

On the other side of the coin, Titomic, Bathurst Resources and Metallium.

Kirkland Lake Discoveries trades on the venture with KLDC and on the OTCQB with KLKLF.

And Firefly Metals announced commitments of one hundred and ninety million dollars Australian for, uh, of an equity raise to advance the Green Bay copper gold project in Newfoundland.

The deal is comprised of one hundred and fifty million Australian, uh, ASX institutional placement and a twenty-nine point six million Canadian bot deal on the Toronto Stock Exchange, both coming in at one dollar and seventy-eight cents Australian per share, plus a non-underwritten share purchase plan targeting an additional ten million dollars Australian.

The raise follows the preliminary economic assessment for Green Bay, which outlined a pathway to one hundred thousand tons of copper per annum from a sixty point two million ton measured and indicated resource at two point four three percent copper equivalent.

The proceeds targeted, uh, targeted at early underground development, long lead capital items, a definitive feasibility study, and resource drilling ahead of a final investment decision by mid-2027.

Firefly Metals trades on the Toronto Stock Exchange and on the ASX, both with the symbol FFM.

All right, that's a wrap here this morning on the morning briefing.

The Mining Stock Daily Morning Briefing is produced by Clear Commodity Network.