Juno Secures A$6M from Mount Mason Sale, Plans February Drilling at Mount Ida
Juno Minerals has finalised the sale of its Mount Mason DSO Hematite Project for A$6 million plus royalties, while advancing exploration at its flagship Mount Ida Magnetite Project with promising gold assay results and planned drilling.
- Mount Mason sale completed for A$6 million cash plus 2% FOB royalty
- Mount Ida Magnetite Project remains Juno’s strategic focus with ongoing exploration
- Significant gold assays from rock chip and channel sampling at Mount Ida Gold Prospect
- Shallow drill program planned for February 2026 to test gold anomalies
- Cash position strengthened to A$5.578 million post-sale, exploration spend of A$434k
Mount Mason Sale Finalised
Juno Minerals Limited (ASX – JNO) has formally completed the sale of its Mount Mason DSO Hematite Project to Gold Valley Yilgarn Pty Ltd, receiving the final payment of A$3 million in October 2025. The total consideration for the asset was A$6 million in cash plus a 2% FOB royalty on all iron ore production, providing Juno with both immediate capital and a potential ongoing income stream.
The sale reflects a strategic decision by Juno to divest a smaller standalone project that required significant capital expenditure, allowing an established regional producer with an existing supply chain to develop the asset efficiently. Importantly, this transaction does not affect Juno’s major asset, the Mount Ida Magnetite Project, which remains the company’s core focus.
Mount Ida Magnetite Project – A Strategic Priority
The Mount Ida Project boasts a substantial resource of 1.85 billion tonnes at 29.48% iron content, making it the largest magnetite resource in the Yilgarn region. Juno is actively seeking a joint venture partner to advance the project through feasibility studies and eventual development. The recent construction of a haul road by Gold Valley Yilgarn to support Mount Mason mining operations also benefits Mount Ida by improving access and reducing future infrastructure costs.
During the quarter, Juno received a technical review from Sedgeman Onyx on past metallurgical test work and the proposed processing flowsheet. While the review suggested some areas for further work, it did not identify any critical gaps warranting immediate additional expenditure. The proximity of Mount Ida to other regional magnetite projects under development underscores its potential within the growing green steel market.
Encouraging Gold Exploration Results
These findings have prompted Juno to plan a shallow reverse circulation drilling program scheduled for February 2026. The drilling aims to test down-dip extensions and along-strike continuity of the mineralised veins, as well as sub-outcropping segments not previously sampled. Pending soil assay results expected in late January may further refine drill targets.
Financial Position and Outlook
Juno ended the December quarter with a healthy cash balance of A$5.578 million, bolstered by the Mount Mason sale proceeds. Exploration and evaluation expenditure for the quarter totalled A$434,000, reflecting ongoing commitment to advancing Mount Ida and other opportunities. Payments to related parties amounted to A$268,000, primarily covering executive and director remuneration.
With a strengthened balance sheet and a potential royalty income stream, Juno is well positioned to accelerate exploration and development activities. The company’s focus remains on securing a substantial partner for Mount Ida and progressing its gold exploration program, aiming to unlock value from its significant resource base.
Bottom Line?
Juno’s strategic divestment and exploration progress set the stage for pivotal developments at Mount Ida in 2026.
Questions in the middle?
- When will Juno secure a joint venture partner to advance the Mount Ida feasibility study?
- How will pending soil assay results influence the upcoming drilling program at Mount Ida Gold Prospect?
- What is the expected timeline for production commencement and royalty income from the Mount Mason Project?
