Latest Arizona News

Lodestar Minerals has established a maiden 221,000oz gold resource at Ned’s Creek, while expanding its heavy rare earth and Chilean copper portfolios. The milestone comes with only A$2.027 million in cash and an estimated 1.15 quarters of funding at the reported quarterly spend rate.

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.

Riedel Resources has completed its transformation into a three-project gold explorer and is preparing to drill Cosmo in Western Australia for the first time since the 1990s. The company ended September with A$3.4 million in cash after a A$2.7 million equity raise, but its projected funding period is based on spending before the main drilling campaign begins.

American Tungsten & Antimony has completed its Nexus acquisition and secured ownership of the Del Sol hydrometallurgical refinery in Nevada, moving its US antimony strategy from transaction to execution. The Arizona White Spar acquisition remains conditional, while the completion consideration includes more than one billion shares and substantial performance rights.

Capstone Copper delivered a record eighth consecutive quarter of adjusted EBITDA, while strong copper prices drove a sharp reduction in net debt. But production is now expected at the low end of 2026 guidance, costs at the high end and capital spending has risen by US$40 million.

Magnum Mining has completed its main Piracanjuba North drilling campaign and narrowed the Brazilian rare earths project to a 32.5 square kilometre priority zone ahead of a maiden resource estimate. The progress comes with a sharper constraint: A$2.0 million in cash covers only about 1.19 quarters at the latest spending rate.

Golden Mile Resources has outlined a broad, gold-bearing surface zone at its Aurora prospect in Arizona and submitted the first permitting plan for a maiden drill campaign. The exploration progress comes with just A$245,000 in cash, leaving the company with an estimated 0.52 quarters of funding and a likely capital raise ahead.

Deterra Royalties has added a sizeable future copper income stream through its US$74.15 million Santa Cruz royalty acquisition, even as September-quarter revenue fell 15% year on year. The portfolio is gaining depth, but its next growth phase depends on construction, financing and commissioning milestones still ahead.

Ragusa Minerals has identified 14 priority drill targets at its Black Rock manganese prospect in Arizona, opening the next stage of its maiden resource campaign. The exploration milestone arrives alongside a stark funding warning: the company held about A$65,000 in cash at quarter-end, equivalent to 0.38 quarters of funding at reported outflow rates.

SQX Resources has completed a fully underwritten $2.47 million entitlement offer, leaving it with $2.40 million in cash to advance exploration across its US gold portfolio. Red Bird resource work is progressing while Williams assays are expected in the December quarter.

Eagle Mountain Mining has emerged from FY2026 with no borrowings, a A$7.27 million accounting profit and a funded 20% interest in its Oracle Ridge copper project. The next test is whether Nittetsu’s drilling and earn-in spending can add value to an asset whose mineral resource has not changed since 2023.

Trek Metals has confirmed a shallow, high-grade manganese discovery at Kuro in Western Australia, with 38 of 72 Phase 1 holes returning significant intercepts. Follow-up drilling is complete, while the company has also secured an option over a second manganese project in Arizona.