Latest Mineral Exploration News

Forrestania Resources now has a 63.10% relevant interest in Zenith Minerals, with the unconditional takeover offer due to close on 12 November unless automatically extended. Three existing directors will resign the following day as Forrestania nominees prepare to take control of the board.

Forrestania Resources has cleared the key hurdle in its takeover of Zenith Minerals, with the offer now wholly unconditional and the bidder holding 63.87% voting power. The offer is scheduled to close on 12 November.

Aldoro Resources has entered voluntary suspension on the ASX while it prepares to announce a significant strategic partnership agreement. The market has been given no details on the proposed partner, terms or financial impact.

Maverick Minerals has turned its expanded West Arunta portfolio into an active drilling campaign, but the September quarter left the explorer with A$1.503 million in cash and estimated funding for about two quarters. Pokali East assays expected in early 2027 could become the next major test of the strategy.

Enterprise Metals has formalised Phillip Gallagher’s executive chairman appointment and increased the second tranche of its placement to approximately $880,000. The package ties his potential equity incentives to share-price, resource and strategic milestones, but both the placement and incentives require shareholder approval.

Coppermoly ended the September quarter with $92,000 in cash and estimated funding for just 0.38 quarters of relevant outgoings. The mineral explorer is cutting costs, narrowing its Queensland portfolio and assessing potential funding and acquisition options after its managing director’s departure.

Admiralty Resources increased quarterly iron ore concentrate production at its Mariposa project by 32% to 41,792 tonnes, even as adverse weather suspended mining. The result relied on stockpiled ore while the processing plant remained in commissioning and the company carried A$9.66 million of drawn debt facilities.

NT Minerals ended September with $142,000 in cash and an estimated 0.47 quarters of funding, while its ASX suspension remained unresolved. The company is pursuing additional funding and disputing responsibility for potential rehabilitation costs at the McKinnons Gold Mine.

Culpeo Minerals has expanded its Chilean exploration footprint and advanced drilling across two copper projects, but ended September with only 1.4 quarters of estimated funding. The company says it is progressing an equity raising as assays and follow-up drilling become the next tests of its exploration strategy.

Helix Resources has won shareholder approval for two exploration acquisitions and completed a $2 million placement, but entered the new quarter with only $63,000 in cash. The company is also facing an adverse British Columbia court order that set aside its Gold Basin joint venture.

New Age Exploration has logged more than 100 metres of alteration, veining and sulphides at its Wallah Silver Project, but laboratory assays are still needed to establish whether the zone contains silver mineralisation. At Lammerlaw, a standout gold hole is driving a larger 2027 trenching and drilling campaign while cash of $728,000 covers only 0.87 quarters of reported outgoings.

Codrus Minerals has completed its acquisition of EdgeMet, adding projects in Peru and Queensland while initial rock-chip sampling at Tiquihua returned results above 5% molybdenum and 10% copper. The explorer ended September with A$2.02 million in cash after a A$2.5 million placement.