Auris Minerals advances its exploration efforts in Western Australia's Bryah Basin with a $3.2 million strategic placement, aiming to expand its geological team and accelerate copper, gold, and rare earth project identification.
- 34 rock chip samples collected at Morck Well gold prospects
- Strategic placement raises $3.2 million for exploration and team expansion
- Tenement E52/2438 surrendered with $50,000 received
- Cash balance improved to approximately $1.2 million post-quarter
- Focus on copper, gold, and rare earths within Bryah Basin tenure
Exploration Progress in the Bryah Basin
Auris Minerals Limited has reported steady progress in its exploration activities during the September 2025 quarter, focusing on its Morck Well Project within the Bryah Basin of Western Australia. The company collected 34 rock chip samples from the Jacques and Frenchy’s South gold prospects, with assays pending. These samples are expected to refine drill targeting and evaluate extensions of previously identified gold mineralisation.
The Morck Well Project is strategically positioned near established mining operations, including Sandfire’s DeGrussa mine and Catalyst Metals’ Old Highway deposit, making it a promising area for copper, gold, base metals, and manganese exploration.
Capital Raise to Accelerate Growth
Post-quarter, Auris secured firm commitments for a $3.2 million strategic placement to sophisticated and professional investors. The initial tranche of approximately $286,000 was completed in mid-October, with the remaining $2.9 million subject to shareholder approval expected in late November. The placement price was set at $0.004 per share, with an additional 250 million unlisted options proposed, potentially raising an extra $1 million if exercised.
This capital injection is earmarked to build a high-performing in-house geological team and to accelerate the identification and acquisition of low-cost tenure prospective for copper, gold, and rare earth elements. Managing Director Mike Hendriks emphasized the importance of this funding to maintain and expand Auris’ footprint in the Bryah Basin, especially following Sandfire’s withdrawal from joint ventures in the region.
Portfolio and Financial Position
During the quarter, Auris surrendered tenement E52/2438 in the Doolgunna Project area, receiving $50,000 following a forfeiture application settlement. The company’s cash position improved from approximately $0.93 million at quarter-end to about $1.2 million currently, bolstered by the initial placement tranche.
Exploration and evaluation expenditure for the quarter totaled $117,000, covering geological staff salaries, field supplies, tenement administration, and project evaluation. No production or development activities were undertaken during this period, consistent with Auris’ focus on exploration and strategic growth.
Looking Ahead
With the strategic placement secured and exploration underway, Auris is poised to strengthen its position in the competitive Bryah Basin region. The company’s focus on critical minerals aligns with broader market trends favoring copper and rare earth elements, essential for emerging technologies and clean energy applications.
Investors will be watching closely for assay results from the recent rock chip sampling and the outcome of the shareholder meeting to approve the second tranche of the placement and options issuance. These developments will be pivotal in determining Auris’ near-term exploration momentum and financial flexibility.
Bottom Line?
Auris Minerals’ fresh capital and focused exploration set the stage for potential breakthroughs in the Bryah Basin’s critical minerals sector.
Questions in the middle?
- What will the assay results from the Jacques and Frenchy’s South prospects reveal about gold potential?
- How will shareholder approval of the second tranche placement and options impact Auris’ funding and strategy?
- What new project opportunities might Auris pursue with its expanded geological team and capital?