This week’s wrap is packed – featuring special guest James Nicholls, a resources M&A lawyer with an abundance of deal-making experience.

We kick off with the industry’s biggest shake-up in a decade: Teck and Anglo American’s plan to tie the knot – a deal we could spend hours dissecting. From there, James takes us into his sweet spot, unpacking the rise of retail shareholder activism through the lens of Capricorn and Warriedar.

Grade Control

- BHP & Rio in the wake of the mega-deal

- Rio’s challenges with Guinea’s downstream push

- Iluka shelving Cataby & SR2

- Genesis’ approval for Tower Hill

Sweet & Sour Deals

- Jindalee’s SPAC agreement

- Alcoa’s cheque for Western Gas

- Marimaca’s “non-deal roadshow”

- Elemental Royalty & EMX’s merger

- New Found Gold’s takeover of Maritime

Stocks covered: AAL.L, TECK.TO, BHP, RIO, WA8, CMM, AVL, ILU, GMD, JLL, AAI, MC2, ELE.C, EMX.C, NFG.C, MAE.V

Hidden Gems:

Grant Williams & Tony Deden Interview

This was recorded on 10/9/2025. 

……………

TIMESTAMPS

(00:00) — Teck and Anglo American's Deal
 (00:42) — Deal Background & Context
 (02:33) — Market Reaction & Synergies
 (04:19) — Regulatory Hurdles & Interloper Risk

(13:27) — Rise of Retail Shareholder Activism
 (13:34) — Background of Capricorn-Warriedar Deal
 (14:42) — Retail Shareholder Response
 (16:14) — Evolution of Shareholder Activism

(35:24) — Grade Control
 (35:43) — BHP & Rio in the wake of the mega-deal
 (38:23) — Rio’s challenges with Guinea’s downstream push
 (40:26) — Iluka shelving Cataby & SR2
 (42:33) — Genesis’ approval for Tower Hill

(45:54) — Sweet & Sour Deals
 (45:54) — Jindalee’s SPAC agreement
 (48:18) — Alcoa’s cheque for Western Gas
 (50:02) — Marimaca’s “non-deal roadshow”
 (51:08) — Elemental Royalty & EMX’s merger
 (52:25) — New Found Gold’s takeover of Maritime

(54:09) — Hidden Gems

……………

Join 14k+ subscribers to the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Director’s Special⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: one daily email with all the news that matters in mining

……………

PARTNERS

Thank you to the mining services businesses that make this content possible:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Sandvik Ground Support⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – The only ground support you’ll ever need

⁠⁠⁠⁠⁠⁠⁠⁠⁠Focus by Marketech⁠⁠⁠⁠⁠⁠⁠⁠⁠ – All your mining news and market needs in one powerful platform | ⁠⁠⁠⁠⁠⁠⁠⁠⁠10-day free trial⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠IMARC 2025 ⁠⁠– Sydney, October 21st to 23rd. Get your tickets– investors go free

……………

FOLLOW & CONNECT

• YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@MoneyofMine⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Twitter / X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@moneyofminepod⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Travis Ricciardo: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@TRAVmoneyofmine⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Jonas Dorling: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@JDmoneyofmine⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Email us Word on the Decline: [email protected]

……………

JOIN THE GROUP CHAT

• Step 1: Join the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MoneyMiners Facebook Group⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Step 2: Request access to the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠HOOTEROO chat⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

……………

DISCLAIMER

All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠full disclaimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.