Fresh push for 'pay day super' laws
There's a fresh push for laws to enforce so-called "pay day super" where money workers earn towards their super is paid at the same time as their wages.
It comes as a popular hospitality group in Melbourne has gone into voluntary administration, owing staff almost a quarter of a million dollars in superannuation.
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Resources Top 5: Another player steps up to the board for copper explorer New World Resources
Move over, Central Asia Metals – New World Resources has a new suitor in Kinterra Capital Terra Uranium is preparing to drill this year at the Spire, Horizon and HawkRock projects in the Athabasca Basin Ausgold is expanding the footprint of its Kulin project in WA on signing a farm-in agreement Your standout small cap resources stocks for Monday, June 23, 2025 New World Resources (ASX:NWC) A new player has stepped up to the oche in competition for ASX-listed North American copper explorer New World Resources (ASX:NWC), with Kinterra Capital joining London-listed Central Asia Metals on the board. After New World confirmed it had received an unsolicited, non-binding, conditional and indicative proposal from Kinterra Capital GP Corp. II in its capacity as general partner of the Kinterra Critical Materials & Infrastructure Opportunities Fund II, LP, the NWC share price equalled a three-year high of 6c. This represented an increase of 78.15% on the company's previous close with more than 71m shares changing hands before NWC closed at 5.7c. Kinterra is seeking to acquire all the shares in New World that it does not already own for 5.7c per share paid entirely in cash via an off-market takeover offer. On June 17, Kinterra held 11.99% of the capital of NWC. New World advised shareholders that they do not need to take any action at this time pending its assessment of the indicative proposal and said that the board, together with its advisers, was undertaking a review of the proposal. The new offer follows an improved offer on June 20 from Central Asia Metals (CAML) of 5.5c per NWC share, up from the original offer of 5.3c which valued the Arizona copper stock at about $197m. Following market close on June 20, NWC was notified by CAML that it had bought on market a total of 178,800,056 NWC shares, representing approximately 5% of the issued capital. New World Resources owns the Antler project in Arizona, one of the top copper jurisdictions in the United States. While not as large as the nearby Resolution deposit, a potential 400,000tpa mine on the books of Rio Tinto and BHP, it is far more likely to get developed in the near term. With most of its infrastructure on public land and key approvals already well progressed, the previously operating underground mine could be approved by early next year and in production as soon as 2027, within the term of pro-mining US President Donald Trump. At 30,000tpa copper equivalent (including 16,000tpa of the red metal), the project is ready to benefit as copper surpluses shift to deficits amid surging demand for the metal from clean energy technologies. NWC's initial suitor CAML already has operating experience at the Kounrad project in Kazakhstan and at Sasa in North Macedonia, 150km east of the capital of Skopje. Terra Uranium (ASX:T92) (Up on no news) Reflecting improved and strengthening market fundamentals for uranium globally and particularly in North America in line with President Trump's executive order to expand uranium mining and allowing nuclear power plants to be built on federal land, Terra Uranium reached 3.5c, an increase of 29.63% on the company's previous close, before closing at 3c. The company is preparing to drill this year at the Spire, Horizon and HawkRock projects in the uranium-rich Athabasca Basin in Saskatchewan, Canada. Interpretation from an Xcite airborne survey flown in Q4 2024 has been completed in preparation for a drilling program during the northern summer. The Spire and Horizon properties are part of an option agreement with ATHA Energy Corporation (TSXV:SASK) with the companies working toward establishing a joint venture. A focused drill program of 2,000m across the two properties will meet T92's 2025 spending commitments to this agreement and allows both companies to fully assess the potential of Spire and Horizon for uranium and base metal potential. HawkRock is a T92 project and airborne gravity and magnetics have provided drill targets along conductive corridors. A coordinated program across all projects has been prepared and permits are in place for an efficient and focused drill program in 2025 across multiple drill-ready targets. 'Terra Uranium is encouraged to see the uranium market in Saskatchewan growing momentum,' Terra Uranium director Doug Engdahl said. 'We believe in our targeting strategy and we aim to efficiently evaluate these projects in the most promising uranium district in the world.' The company remains well-positioned to take advantage of an anticipated recovery in the uranium price, reflecting the global recognition of nuclear energy's critical role in a low-carbon future, particularly in response to the demand surge for sustainable power sources, including AI-driven data centres. Ausgold (ASX:AUC) After expanding the footprint of its Kulin project in WA on reaching a farm-in agreement to acquire a majority stake in an adjacent exploration licence highly prospective for gold, Ausgold rose 7.75% to a daily high of 76.5c and then eased back to 72.5c. The new 106km2 exploration licence covers the northern extension of the Yandina Thrust – a fertile structure hosting the nearby Griffins Find and Tampia gold mines. Geochemical sampling has defined a +3km long coherent +10ppb gold-in-soil anomaly with two central +50ppb 'bullseye' targets that have strike lengths of 600m each. Trenching over these bullseye targets returned results of 31m at 1g/t gold and 20m at 0.6g/t gold. Deep diamond holes drilled to test a 300m down-dip continuation of surface mineralisation returned up to 3m grading 2.37g/t gold from a down-hole depth of 341m. The newly defined trend represents a compelling exploration opportunity and will be the focus of further auger sampling in Q1 FY26, with the aim of delineating additional drill-ready targets across the broader region. Under a farm-in agreement, the company can earn up to 70% in the exploration licence by first spending $250,000 within 18 months to earn an initial 51%. It can increase this to 70% by spending another $360,000 over the following 24 months. Once completed, the vendor Critica (ASX:CRI) will retain a 30% interest with the right to convert it into a 1.5% net smelter royalty at a decision to mine. Magnetic Resources (ASX:MAU) Magnetic Resources edged higher after increasing contained gold resources at its Lady Julie project in WA's Laverton region by ~22% to 2.14Moz just days after signing a key native title agreement. The resource upgrade to 35.69Mt at 1.86g/t also takes overall resources in the Laverton region to 40.72Mt at 1.77g/t for 2.32Moz of contained gold. Shares were up as much as 3.9% to a daily high of $1.61 and closed at $1.56, just above the company's close on June 20. The upgrade is due to the success of recent infill drilling at the key Lady Julie North 4 deposit which hosts most of the resource (31.18Mt at 1.93g/t for 1.94Moz), up 25% from the January 2025 update. Infill drilling also significantly improved confidence in the continuity of mineralisation and the resource estimate with 81% of the LJN4 resource now in the higher confidence indicated category that possesses enough certainty for mine planning. Additionally, the company has completed a review of the structural geology at LJN4 resulting in an improved and more continuous 'fit' of the mineralisation wireframes to drill hole intercepts. Lady Julie is proposed to be commercialised through the construction of three open pits, with a concurrent underground mine, a CIL processing plant and associated infrastructure. Waratah Minerals (ASX:WTM) A strong performer among ASX-listed small cap stocks was NSW copper-gold explorer Waratah Minerals which closed 9.62% higher at 28.5c after reaching a daily top of 30.5c. The company has recently accelerated exploration at its Spur project, just 5km west of the massive Cadia Valley copper-gold operations south of Orange. An expanded three-rig campaign at Spur has confirmed extensions to known gold mineralisation at the Spur Gold Corridor, as drilling continues to investigate a potential link with a porphyry gold-copper system. Numerous intercepts from expansion drilling were returned within the >1km Spur Gold Corridor such as 77m at 1.31g/t gold from 310m, including 8m at 3.19g/t gold from 327m as well as 56m at 1.63g/t gold from 252m. New extensions to gold mineralisation, northeast of the Essex Fault, were identified with drilling linking the Spur and Consols Zones, returning 11m at 1.49g/t gold from 90m, including 1m at 14.45g/t gold from 98m. Meanwhile, the program at Breccia West intercepted a broad zone of porphyry-related mineralisation and alteration, with drillhole BZD002 hitting 33m at 0.18% copper equivalent and 61ppm molybdenum from 546m within 419m at 45ppm molybdenum from 34m. Ongoing work is rapidly growing the scale of the Spur Gold Corridor with 76 drill holes totalling 18,852m completed since mid-2024. The Spur Gold Corridor now contains 45 >50-gram x metre and 7 >100-gram x metre gold intersections, establishing it as one of the premier emerging gold discoveries in the region.
