Latest Bankable Feasibility Study News

Botala Energy has secured A$1.35 million in a targeted placement to fund flow testing at its Serowe coal bed methane project, reserves certification and the final Phase 2 feasibility study. The raise also provides near-term funding while a proposed A$3.6 million investment from Botswana’s MDCB remains subject to commercial agreements.

Aura Energy’s Tiris uranium project has emerged from its bankable feasibility study with a US$500.3 million post-tax NPV and a target to produce by the end of 2028. The economics are substantial, but the funding package is not secured and nearly one-third of the mine plan relies on Inferred Resources.

PhosCo has paired a non-binding development partnership with a proposed $1.4 million investment from Tunisia’s STUDI International, giving the Gasaat project a local engineering partner as feasibility work approaches. The funding and collaboration remain subject to formal documentation, leaving execution as the next test.

EcoGraf has replaced its earlier Epanko announcement after ASX correspondence, setting out the assumptions behind a potential increase in Stage 1 production to 87,600 tonnes per annum. The higher-throughput case lowers estimated unit costs, but remains preliminary and is not yet the basis for project financing or a final investment decision.

Dalaroo Metals has moved from a Western Australian base-metals explorer into a three-country gold and critical-minerals play, but its next phase depends on drilling success and continued access to capital. The annual report records a $2.63 million loss, $509,442 in year-end cash and a material uncertainty over going concern.

Botala Energy’s Serowe CBM project has reached its most important testing phase after well 3.5B delivered strong early water production and casing pressure. The operational progress is material, but the company still faces a funding hurdle and has not yet demonstrated sustained commercial gas flow.

Rumble Resources has moved Western Queen closer to a potential 2027 gold start, pairing a larger resource with third-party processing access and A$10 million in royalty funding. The project remains pre-production, however, with approvals, financing, feasibility work and a final investment decision still outstanding.

PhosCo has expanded its Gasaat phosphate project with a 166.6Mt resource and new processing results, but its auditor has flagged material uncertainty over the company’s ability to continue as a going concern. The ASX-listed explorer ended FY2026 with $5.86 million in cash, a $4.48 million consolidated loss and a $2.71 million working capital deficit.

Manhattan Gold Corporation (ASX:MHC) has emerged from a transformational year with encouraging Hook Lake drilling, expanded tenure and a sharper gold focus, but no compliant resource yet and only A$2.01 million in year-end cash. The company reported an A$8.90 million loss after absorbing exploration costs and a large loss on its lithium divestment.

Brazilian Critical Minerals has reported striking economics for its Ema rare earths project, including a US$1.47 billion post-tax NPV, 105% IRR and six-month payback. The company’s A$7.87 million FY2026 loss, December debt maturity, permitting requirements and unresolved Drake dispute leave the development case dependent on execution and further funding.

Carnavale Resources has started more than 7,000 metres of aircore drilling at Kookynie while lodging environmental and mine development applications for its proposed Swiftsure and Tiptoe pits. The company says its bankable feasibility study is essentially complete, with an updated financial model and ASX release expected in October.

EcoGraf has strengthened the technical and commercial case for its Tanzanian graphite strategy, including a larger Epanko ore reserve and planned downstream processing. But cash fell to A$3.8 million, and auditors flagged a material uncertainty over the company’s ability to continue as a going concern.