Happy Thursday, Zingers! Today, we’re covering why Anglo American rejected BHP's improved bid, the Biden administration’s new tariffs on Chinese imports, American Battery Technology’s latest strategic maneuver and more. Let’s dig in.

Before we do, did you miss us at PDAC 2024? Watch our exclusive interviews from Mining Into The Heart Of EV Innovation.

PRICE CHECK

Precious Metals:

• Gold: 2,379.43 (-0.29%)

• Silver: 29.62 (-0.36%)

• Platinum: 1,062.90 (+0.22%)

• Palladium: 992.28 (-2.08%)

Industrial Metals:

• Copper: 10,220.30 (+2.11%)

• Iron Ore: 116.30 (-0.30%)

• Nickel: 19,037.50 (+0.54%)

• Aluminum: 2,582.25 (+1.23%)

Energy Materials:

• Coal: 106.50 (+0.85%)

• Uranium: 91.10 (+0.22%)

Intraday prices as of 4:00 pm EST 05/16/2024.

ZINGERS

U.S. Antimony (AMEX:UAMY) reported Q1 results with revenues rising 28%, and a 108% increase in gross profit due to a lower rise in sales costs.

Atlas Lithium‘s (NASDAQ:ATLX) advanced lithium processing plant, using dense media separation (DMS) technology, is in the final fabrication stage.

Gold Royalty (AMEX:GROY) reported record quarterly revenue of $2.9 million. The company also achieved its first positive cash flow.

American Battery Technology (NASDAQ:ABAT) commercialized its unique, large-scale battery recycling technology, achieving operations at 115% of its designed capacity in Reno, Nevada.

The Biden administration is imposing new tariffs on Chinese imports to protect U.S. jobs before the November election.

TOP STORY

Anglo American Rejects BHP's Improved Bid For Prized Copper Assets

Briefly: Anglo American rebuffed BHP‘s advances… again.

What Happened: The London-based Anglo American rejected Australian mining giant BHP’s revised $42.7 billion takeover bid.

Back Up: This offer was the second in three weeks, aimed primarily at acquiring Anglo’s prized copper assets and significantly bolstering BHP’s presence in key regions like Chile and Peru.

Quoted: "The latest proposal continues to contemplate a structure which the board believes is highly unattractive for Anglo American's shareholders, given the uncertainty and complexity inherent, and significant execution risks," the company said in a statement.

Why It Matters: Copper is the driving force behind this high-stakes game. A vital component in electric vehicles, wind turbines and solar panels, copper demand is projected to surge in the coming years as the world embraces renewable energy technologies.

Click here to read more.

UPGRADES AND DOWNGRADES

Orla Mining (AMEX:ORLA) - Date: 05/15/2024, Industry: Mining, Analyst Firm: Stifel, Ratings: Maintains Buy, Target: N/A

SilverCrest Metals (AMEX:SILV) - Date: 05/15/2024, Industry: Mining, Analyst Firm: Stifel, Ratings: Maintains Buy, Target: $11.25

Gold Royalty (AMEX:GROY) - Date: 05/15/2024, Industry: Mining, Analyst Firm: Raymond James, Ratings: Maintains Market Perform, Target: $2.75

INSIDER TRADES

Notable Purchases

U.S. Gold (NASDAQ:USAU) - Purchase Date: 05/13/2024, Insider: George Bee (CEO, President), Value: $19.65K, Delta Own: +1.07%

Texas Pacific Land (NYSE:TPL) - Purchase Date: 05/14/2024, Insider: Horizon Kinetics (10% Owner), Value: $1.82K, Delta Own: +0.00%

Notable Sales

Magnolia Oil & Gas (NYSE:MGY) - Sell Date: 05/14/2024, Insider: John Walker (Director), Value: $306.96K, Delta Own: -46.36%

Materion (NYSE:MTRN) - Sell Date: 05/13/2024, Insider: Gregory Chemnitz (VP), Value: $226.62K, Delta Own: -7.90%

Go Deeper: Learn where the insiders are buying and selling.