Latest Mineral Exploration News

Venari Minerals has lodged a prospectus for up to 8.14 million free options linked to its $6.1 million capital raising, with no immediate proceeds but almost $1 million possible if exercised. A separate 326,250-option allocation to directors now depends on fresh shareholder approval at the November AGM.

C29 Metals ended September with $219,000 in cash and estimated funding for just 0.59 quarters, while its proposed $2.4 million placement remains subject to shareholder approval. The explorer reported no on-site exploration during the quarter, as it moved to cut costs and rationalise its portfolio.

Reedy Lagoon has issued 1.44 billion shares at $0.00125 each, completing the shareholder-approved placement and injecting approximately $1.8 million before costs. The Section 708A notice clears the shares for trading without further disclosure, but the filing leaves the enlarged capital structure and use of funds unstated.

Dreadnought Resources is preparing to move Star of Mangaroon into mining and processing while advancing Metzke’s Find as a second potential gold development. The company ended September with A$11.6 million in cash and term deposits after a quarterly cash outflow of A$4.1 million.

Stavely Minerals has paired strong preliminary economics for its Thursday’s Gossan copper-gold-silver project with a much tighter near-term funding position. The company also reported higher-grade mineralisation at depth at the Freddy’s Find gold-silver prospect.

Tambourah Metals has reported high-grade gold at Baxters Sth, including a fresh-rock intersection of 3 metres at 35.5 g/t, while opening a $2.2 million entitlement offer to fund its exploration program. The results are encouraging, but the mineralisation remains an early-stage discovery with continuity and orientation yet to be established.

AuKing Mining has extended its high-grade rare earths story at Tundulu while reporting just 1.21 quarters of funding at its current cash burn. The company is also building a broader critical minerals portfolio across Malawi and Greenland, but much of the next phase depends on assays, option exercises and further funding.

Kingsrose Mining has promoted CEO Andy Caruso to managing director and added him to the board, while proposing a substantial incentive package subject to shareholder approval. The appointment formalises his leadership as the company pursues acquisitions and Scandinavian exploration.

Kingsrose Mining has secured the key Finnish approvals needed to advance drilling at Area 6 of its Penikat project, with a January 2027 start still targeted. Appeals remain possible until 20 November, but a separate enforcement order could allow restricted drilling while any challenge is heard.

Tambourah Metals is seeking up to $2.203 million through a non-renounceable one-for-four entitlement offer to fund exploration across its Western Australian portfolio. The offer is not underwritten, and the prospectus warns that further equity may be needed to support the company beyond the short term.

Tasman Resources has received South Australian approval for its Parkinson Dam environmental programme, clearing the regulatory path for a 20-hole drilling campaign. The programme now hinges on contractor appointments and a drilling start date, with historical high-grade gold and silver results providing the geological rationale.

Surefire Resources has lodged a prospectus for up to 266.6 million new options, although only $90,593 will be raised upfront. The proposed issue would more than quintuple the company’s options on issue and leaves shareholders facing a key approval vote in November.