Test episode MO 1
Episode notes
On this day in 2001, Australia stretched its Test winning streak to 16 matches — proof that disciplined systems compound pressure long before the scoreboard tells the story. That's the theme today. I'm Dave and this is Market Open.
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Today's session leaned heavily on grade, continuity and resource confidence. Companies widening their scoring lanes through depth, scale and system extensions. Let's go over by over.
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Midas Minerals, ticker M-M-1, is building serious scoreboard pressure at its T-13 deposit in Namibia. Infill drilling keeps confirming the quality of this system — hole T13DD005a returned 50.6 metres at 7.81 percent copper equivalent, including 14.4 metres at 20.9 percent copper equivalent. That's not finding the gap — that's hitting it clean through the covers. With five rigs running across the Otavi Project and an initial resource already sitting at 10.5 million tonnes at 1.6 percent copper, an MRE update is expected later in 2026. Another rig is set to join shortly. Midas is well and truly holding the crease.
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Locksley Resources, ticker L-K-Y, stayed on the front foot after maiden assays from the Desert Antimony Mine in California confirmed antimony mineralisation below historical workings in every single hole drilled. The headline — 4.0 metres at 4.87 percent antimony, including 0.4 metres at 33.51 percent antimony. Eight diamond drill holes, 1,065 metres total. With El Campo results still pending and 3D modelling underway, Locksley is reading the pitch carefully before committing to the next phase. Good, disciplined cricket.
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Kuniko, ticker K-N-I, has extended its Commonwealth and Silica Hill system well beyond the current mineralisation envelope. Hole CMKNI006 returned 7.1 metres at 8.4 grams per tonne gold and 42 grams per tonne silver, with a 100 metre step-out at Silica Hill coming back with 3.4 metres at 4.1 grams per tonne gold. All six Phase 1 holes hit sulphide mineralisation. A secured diamond rig commences Phase 2 drilling in early July, targeting larger step-out extensions and depth. Kuniko is firmly on the front foot.
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West Cobar Metals, ticker W-C-1, has widened its scoring lanes considerably — the company now holds around 1,090 square kilometres of tenure across roughly 120 kilometres of prospective Cobar stratigraphy after securing the EL9915 grant. The Blind Freddie target carries a copper and gold anomaly stretching more than 2.5 kilometres, and the Lilyvale gravity target is shaping up larger and stronger than Bulla Park. RAB and RC drilling programs are queued up. District scale exposure, multiple concealed targets — this innings is still in the early overs.
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Terrain Minerals, ticker T-M-X, is doing exactly what you want to see from a company approaching a maiden resource — ticking every box methodically. The DGPS drill collar survey is done, the haul road application has been lodged, metallurgical sampling has started, and a topographic drone survey kicks off this quarter. The maiden Starter MRE at Lightning is targeted for July 2026. Disciplined running between wickets. No risks, just runs.