Latest Ansto News

Gold Mountain has reported a busy September quarter across its Brazilian exploration portfolio, led by strong Irajuba rare earth intersections and encouraging metallurgical results at Capivara. The company ended the quarter with $6.397 million in cash after spending $1.828 million on exploration and raising $1.5 million through equity issues.

Ark Mines’ updated Sandy Mitchell study outlines a 26-year rare earths and heavy minerals operation with a post-tax NPV of A$883 million. The economics are substantial, but depend on refined garnet pricing, uncommitted funding, further approvals and metallurgical work.

Chilwa Minerals finished the September quarter with only A$5,000 in cash, but its completed Nasdaq IPO has since delivered about A$4.5 million net and reopened the funding runway. The company is now pressing ahead with Mpyupyu West and Nakombe drilling, although the key exploration results remain outstanding.

Heavy Rare Earths has identified 10 interpreted high-grade heavy rare earth oxide domains within its Subron project, while expanding the project footprint and advancing drilling across South Australia. The company also completed the components of a capital raising worth up to $2.028 million, although several key milestones remain dependent on approvals, access and further technical work.

Lindian Resources says its Kangankunde rare earths project remains on track for first monazite concentrate production in December, with equipment testing and export preparations now underway. The company also reported $45 million in cash, full ownership of its Kazakhstan processing plant and a newly disclosed appeal of a previously dismissed Malawi court case.

European Resources has lifted bench-scale magnet rare earth extraction at its Korsnäs project to 92% and is moving towards a mixed rare earth carbonate sample for potential customer assessment. The progress comes alongside a new eastern exploration anomaly and a reported cash runway of about two quarters.

OD6 Metals has converted a run of high-grade Nevada fluorspar discoveries into a proposed 10,000-metre maiden drilling and bulk-sampling campaign. The company ended September with A$1.775 million in cash, but a subsequent A$6.92 million placement lifted pro forma funds to about A$8.695 million before costs and later movements.

OD6 Metals has completed its A$6.92 million placement, issuing 72.84 million new shares and giving the explorer funding to advance Quinn, Splinter Rock and Gulf Creek. The immediate test is whether that capital can translate into approvals, drilling and resource definition.

Alvo Minerals has secured A$1 million from strategic and existing investors while reporting broad, near-surface dysprosium and terbium mineralisation at its Bluebush project in Brazil. The results strengthen the exploration story, but metallurgy, permeability and a maiden resource remain ahead.

Gold Mountain expanded its Brazilian rare earths portfolio during FY2026, taking Irajuba beyond its original conceptual target and confirming ionic adsorption clay characteristics at Capivara. The progress came alongside an $8.137 million loss, a $4.798 million impairment charge and continued reliance on equity funding.

Heavy Rare Earths has identified high-grade heavy rare earth zones at Subron while preparing drilling across its South Australian portfolio. But the FY2026 report also highlights a material uncertainty over the company’s ability to continue as a going concern, with only $459,327 in cash at year-end.

Axel REE has more than doubled the Woolrich resource to 264.6 million tonnes and delivered its first Indicated classification at the Brazilian rare earths project. The upgrade comes as the loss-making explorer prepares a controlled in-situ recovery field validation program, with A$5.73 million in cash at year-end.