Accent Resources Holds $9.7M Cash, Progresses Magnetite Range Pre-Feasibility Study
Accent Resources NL reports steady progress on its Magnetite Range Project pre-feasibility study, confirming high-grade magnetite concentrate, while maintaining stable gold resources at Norseman and holding nearly $10 million in cash.
- Pre-feasibility study progressing on Magnetite Range iron ore project
- Metallurgical test work confirms high-grade magnetite concentrate
- Norseman gold project resources unchanged; mining lease pending
- Cash reserves of $9.7 million with $954K spent on exploration
- Unsecured loans from major shareholders support funding
Steady Progress on Magnetite Range Project
Accent Resources NL continues to advance its Magnetite Range Project in Western Australia's Mid-West region, with a pre-feasibility study (PFS) underway to assess the viability of developing a magnetite mine and processing operation. The company has completed extensive geophysical modelling, flora and fauna surveys, and heritage assessments, all critical steps toward securing environmental and regulatory approvals.
Metallurgical test work has yielded promising results, confirming exceptional magnetite concentrate grades and high mass recovery from the Julia and Robb deposits. These findings support the potential for a robust processing flowsheet, which the PFS will further refine alongside mine planning and infrastructure design.
Norseman Gold Project Remains Stable
Meanwhile, the Norseman Gold Project, located near the town of Norseman in the Eastern Goldfields, remains unchanged in terms of mineral resources. The company has submitted a mining lease application to consolidate existing tenements, which is currently pending grant. This consolidation could streamline future exploration and development activities in a historically mineralized greenstone belt.
Financial Position and Funding
As of 31 December 2025, Accent Resources held $9.746 million in cash and cash equivalents, reflecting a solid financial footing to support ongoing exploration and development. The company spent $954,000 on exploration during the quarter and made payments totaling $123,000 to related parties, including directors. Notably, Accent Resources benefits from unsecured loans provided by its major shareholders, Rich Mark Development Group Pty Ltd and Xingang Resources (HK) Limited, which offer additional financial flexibility.
Looking ahead, the company plans to commence process engineering design work and water exploratory drilling in the coming quarter, alongside further exploration targeting and strategic studies. These activities will be crucial in advancing the Magnetite Range Project toward a definitive feasibility stage.
Outlook and Strategic Focus
Accent Resources remains focused on identifying and acquiring resource projects aligned with its corporate strategy, leveraging its strong shareholder backing and cash reserves. The ongoing PFS and exploration programs are expected to provide clearer insights into the economic potential of its assets, particularly the Magnetite Range Project, which holds a substantial magnetite resource of over 523 million tonnes grading 31.3% iron.
Bottom Line?
Accent Resources is well-positioned financially and operationally as it advances key projects, with upcoming PFS results and lease approvals set to shape its next growth phase.
Questions in the middle?
- When will the mining lease for the Norseman Gold Project be granted, and what impact will it have?
- What are the expected timelines and capital requirements for completing the Magnetite Range Project feasibility studies?
- How will Accent Resources manage exploration and development risks amid fluctuating iron ore and gold markets?
