Latest Diamonds News

Locksley Resources has halted active field exploration across its Mojave antimony and rare earths project after antimony prices fell more than 57% from mid-2025 peaks. The strategic reset came as the company reported a widened FY26 loss of A$15.65 million and shifted attention to copper-gold assets in New South Wales.

Buxton Resources has returned to profit after selling its 49% Copper Wolf joint venture interest to IGO for A$5.91 million. The transaction lifted cash and term deposit investments to A$7.39 million, but the explorer remains dependent on capital and future discoveries rather than recurring earnings.

Tasman Resources has swung to a $16.5 million FY2026 profit after booking a $19.48 million gain when Eden Innovations ceased to be controlled. The explorer also ended the year with $5.65 million in cash and no borrowings, but its next test is geological rather than accounting: drilling at Titan West and Parkinson Dam.

Somerset Minerals reported a $2.17 million statutory profit for 2026, but the result was driven mainly by a gain on divesting its Blackdome-Elizabeth subsidiaries rather than recurring operations. The company’s Coppermine copper campaign delivered strong Jura and Talisker drilling results while its auditor warned that further funding is needed to sustain exploration.

Aldoro Resources has expanded its Kameelburg rare earths, strontium and niobium resource in Namibia to 804.5 million tonnes, including a maiden 162.1Mt Indicated category. The technical progress is substantial, but the annual report also flags a $15.7 million loss, just $78,561 in year-end cash and material uncertainty over ongoing funding.

Aurora Energy Metals (ASX:1AE) swung to a $21.8 million profit after selling its Oregon uranium project, but the result was driven largely by a non-cash accounting gain. The company’s concentrated Eagle Nuclear Energy stake was valued at about $15.5 million by the annual report date, down from $23.9 million at 30 June.

Indiana Resources has finished FY2026 with A$30.1 million in cash and term deposits, promising exploration results in South Australia and an unresolved dispute over 18% of its Tanzania settlement proceeds. The company is also preparing for Managing Director and CEO Matthew Bowles to leave in November.

WA Gold has posted a A$2.36 million annual loss and warned that additional working capital is needed to continue as a going concern. The company is nevertheless pressing ahead with Abercromby drilling and a potential 114,000-ounce staged development.

Alara Resources has swung from a $19.03 million loss to a $19.67 million net profit after tax as its Oman copper operation generated $135.35 million in revenue. The turnaround comes with a material going-concern uncertainty, planned further equity funding and a legal appeal due in November.

Desert Metals expanded its Côte d’Ivoire exploration portfolio during FY2026, with high-grade results at King Kong and Tiogo and a new 7km Nyan gold corridor. The operational progress sits alongside a sharp fall in cash to A$409,355 and an auditor warning that further funding is critical to continuing as a going concern.

Kingsland Minerals has advanced its flagship Leliyn Graphite Project into pre-feasibility, backed by high-grade drilling, gallium testwork and a A$2.16 million capital raising. But the ASX-listed explorer finished FY2026 with only A$458,032 in cash and remains dependent on further funding.

Ragnar Metals has identified at least five interpreted mineralised shoots at its Harnäs gold project in Sweden, but the exploration-led company ended FY2026 with only $233,220 in cash. The annual report also restates FY2025 after previously omitted Kaiser Reef options were recognised at $779,288.