Explorers take the lead as TechGen, Critical Resources and Great Boulder top the week

TechGen Metals (ASX:TG1) was the biggest mover, rising 31.11% after buying 100% of the Mt Boggola East tenement in WA. Investors liked the simple setup: it sits next to TechGen’s existing ground and includes historic drilling with a standout copper hit. Critical Resources (ASX:CRR) followed with 28.57% after pointing to a gold, antimony, silver system in NSW, including very high silver grades at one target. Great Boulder Resources (ASX:GBR) added 27.78% as drilling suggested gold continues deeper than the company’s current 1Moz-scale resource.

Explorers ran hardest as “drill now” stories stayed liquid

Small caps with clear next steps kept attracting buyers. Western Yilgarn (ASX:WYX) rose 20.45% after reporting gallium and tellurium rock chips. In plain terms, it found unusual metals used in electronics, and the company says the mineralised area looks wide. Investors often chase these announcements early, before the expensive drilling starts. Aurum Resources (ASX:AUE) gained 23.08% on a growth pitch built around a 3.28Moz resource in Côte d’Ivoire and a plan to lift production over time. The week also showed how opening spikes can cool. In a few names, early gains faded after the market reopened, which usually means some traders took quick profits rather than adding new money.

Funding and deal terms moved prices more than geology in several names

Bannerman Energy (ASX:BMN) finished up 5.70% after outlining a US$321.5m strategic investment by CNNC Overseas Limited for a 45% joint venture stake in Namibia’s Etango uranium project. The key point for beginners: “debt-free construction” means Bannerman is aiming to build without taking on bank debt, which can reduce the risk of a dilutive emergency raise later. The stock opened strongly, then gave back some of those early gains as the week progressed. Capital raisings were a mixed bag. Sky Metals (ASX:SKY) rose 6.25% after a $20.5m placement to speed up its NSW tin plan. PMET Resources (ASX:PMT) fell 11.67% despite announcing up to C$130m of funding for its Quebec critical minerals project. That kind of move usually reflects dilution worries, meaning investors expect more shares on issue and smaller ownership per share.

Copper consolidation and offtake deals kept attention on supply

Aeris Resources (ASX:AIS) and Peel Mining (ASX:PEX) both drew interest after agreeing a scheme deal that shifts Peel’s South Cobar copper project into Aeris, while Peel shareholders also get shares in a new exploration spin-out. Peel jumped 15.63% as the offer price and structure gave holders a clear near-term value marker. Aeris ended up 3.03%, but it also saw some early strength fade, which can happen when investors start calculating how many new shares will be issued. Elsewhere, Orion Minerals (ASX:ORN) dropped 15.79% even after signing a US$250m prepayment facility with Glencore for the Prieska copper-zinc restart. A prepayment is effectively getting paid early for future product. Investors can still worry about conditions, approvals, and whether timelines slip.

Policy support and government money mattered in battery and critical metals

Syrah Resources (ASX:SYR) rose 11.63% after the US set combined duties of about 160% on Chinese graphite active anode material imports, pending a final decision in March 2026. In everyday terms, it could make Chinese product much more expensive in the US, which may help Syrah sell from its US plant sooner. European Metals Holdings (ASX:EMH) climbed 14.04% after a rezoning win for Cinovec and news of up to €360m in strategic funding support from the Czech Government. The share price moved higher on the week, although some early gains eased after reopening. That often means investors liked the direction but still want to see the funding and permits land in hard dates. bottomLine: "The next clear calendar points are March 2026 for the US ITC decision on graphite duties, and mid-2026 target dates across several transactions that need approvals, including Bannerman’s Etango JV and the Aeris, Peel scheme. Between now and then, pricing will likely keep reacting to any update that turns these dates into signed documents, permits, or funded work programs."