Latest Comet Ridge (ASX:COI) News

Small-cap resources led the week’s biggest moves, but sharp falls in Bounty Oil and Nyrada showed how quickly investors can sell when funding and deal terms remain uncertain.
Gold, copper, rare earths and takeover activity supplied the strongest gains, while several companies still need more cash before they can deliver their plans.

Exploration news drove the biggest share-price moves, while project funding remained the key test for developers across gold, copper, rare earths and energy. Strong drilling results lifted several small miners, but some early gains faded when investors focused on cash needs and the lack of formal reserves.

Comet Ridge now controls the entire Mahalo Gas Hub after completing its Santos buyout, but the annual report flags a material uncertainty over funding and a potential $28.7 million CleanCo settlement. The company is targeting a final investment decision while remaining pre-production and reliant on further finance.

Small-cap resources led the week, with Discovery Alaska rising 90% as it bought a Western Australian gold project. Gold, copper and critical minerals companies also drew strong buying. Large energy names posted solid results, but several shares fell as investors weighed capital needs, project delays and weaker forward guidance.

Comet Ridge has completed the acquisition of Santos' 42.86% interest in the Mahalo Gas Project, gaining 100% ownership and operatorship of the Mahalo Gas Hub. This move removes joint venture constraints and positions Comet Ridge to advance development in a tightening east coast gas market.

Carnaby led the market after Evolution Mining agreed to a A$213 million takeover. Coal and lithium names fell despite major production and funding news.
Across materials, investors rewarded deals and cash flow, but punished large capital needs and weak price follow-through.

Comet Ridge has raised $40 million through a placement and $875,750 via a share purchase plan to fund the acquisition of Santos’ remaining stake in the Mahalo Gas Project and progress development activities.

Comet Ridge has completed a $40.9 million capital raise combining a Share Purchase Plan and a two-tranche placement to fund full acquisition and development of its Mahalo Gas Project.

Comet Ridge Limited has pushed back the closing date for its Share Purchase Plan and associated Options Offers to 24 July 2026, giving eligible shareholders more time to participate ahead of a key August meeting.

A handful of small-cap names posted big weekly swings, but the bigger story was a flood of new studies, resource upgrades and funding deals across gold, rare earths and battery materials. Investors chased scale and near-term production, while several raisings and gap-down reopenings showed how quickly early enthusiasm can fade.

Comet Ridge has locked in $40 million through a two-tranche placement and plans a $5 million share purchase plan to fund full ownership and development of its Mahalo Gas Project.

Comet Ridge has revised its acquisition deal for Santos’ stake in the Mahalo Gas Project, cutting upfront cash and extending deadlines to navigate new government gas reservation policy uncertainty.