Hot Stocks: Resolution Minerals, BPM Minerals, Sunshine Metals

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US stocks ended Tuesday mostly flat as markets digested mixed messages from President Donald Trump on trade policy. The S&P 500 slipped 0.07%, while the Nasdaq edged up slightly and the Dow dropped 165 points. After initially welcoming Trump’s decision to delay new tariffs until August 1, investor confidence wavered when he declared the new deadline “final” with no exemptions. Markets were also unsettled by his announcement of a 50% tariff on copper imports—a move that sent Comex copper futures soaring 9.5% to US$5.50 a pound, their highest level on record relative to global benchmarks. Manufacturers warned that the rising costs could hurt US industry, undermining the administration’s own reshoring goals.

In Australia, markets are expected to follow the US lead, with SPI futures pointing to a 7-point drop. The Australian dollar rose 0.6% to US65.29¢. Commodity markets reflected the copper surge, while gold fell 1% to US$3,301 an ounce and oil and iron ore posted modest gains.

Resolution Minerals’ Horse Heaven drilling approval and acquisition progress

Resolution Minerals Ltd (ASX:RML) has secured final US Forest Service permits to begin drilling at its Horse Heaven Project in Idaho, USA, with drilling set to begin in August 2025. The acquisition of the project—adjacent to Perpetua Resources’ US$2bn Stibnite Gold Mine—is expected to be finalised shortly, pending due diligence and shareholder approval. The Phase 1 program includes up to 20 holes (20,000 feet) targeting gold, antimony, and tungsten beyond the oxide-sulphide interface, particularly at the Golden Gate Ridge, a 3.5km mineralised fault zone with historic shallow gold intercepts. Notably, this is the first drilling in over 30 years at the site, which is considered prospective for critical minerals.

BPM’s strategic sale of Claw Gold Project and pivot to Forelands

BPM Minerals Ltd (ASX:BPM) has entered into a binding agreement to sell its Claw Gold Project in Western Australia to Capricorn Metals (ASX:CMM) for up to $3 million—$1.5 million in initial consideration (part cash, part shares at Capricorn’s election) and a further $1.5 million in contingent milestone payments tied to resource definition and mine development. The funds will bolster BPM’s cash position (~$3.5 million post-sale) and support exploration at its recently acquired high-grade Forelands Gold Project, located ~150km from Kalgoorlie. The company views the Forelands asset as having strong near-term resource conversion and exploration potential.

Sunshine Metals’ early results and exploration ramp-up at Sybil

Sunshine Metals Ltd (ASX:SHN) has commenced fieldwork at the Sybil prospect in Queensland, part of its Ravenswood Consolidated Project. Initial mapping and sampling at Francis Creek have confirmed encouraging epithermal vein textures, with historic rock chip samples up to 907g/t Au. Drilling is planned for July–August 2025. Sybil sits on a 40km extensional structure and is considered highly prospective, with strong similarities to the nearby 4Moz Pajingo deposit. The project remains largely underexplored. Sunshine also highlighted upcoming milestones across its broader portfolio, including Liontown, Plateau, and Salla.