Latest Due Diligence News

IRIS Metals has confirmed high-grade lithium mineralisation at its Edison Project in South Dakota, revealing promising drill results that bolster its US development ambitions. The company plans further drilling and an economic study to advance its lithium portfolio.

Vulcan Steel Limited reported a 10.9% revenue decline in FY25 alongside a 24.1% drop in adjusted EBITDA, while announcing a fully underwritten NZ$96 million equity raise to fund the acquisition of Roofing Industries Limited. The deal marks Vulcan’s strategic entry into the New Zealand steel roofing and cladding market with expected earnings accretion and no change to its dividend policy.

Ark Mines has landed a $4.5 million investment from Queensland’s Critical Minerals and Battery Technology Fund, accelerating development at its Sandy Mitchell rare earths project with production targeted for late 2027.

Abacus Group has reversed last year’s losses to post a $26.9 million statutory profit in FY25, maintaining its distribution and signalling confidence for FY26 despite market challenges. The group’s commercial portfolio shows resilience, supported by a strategic stake in Abacus Storage King and ongoing capital management.

Abacus Group (ASX – ABG) reported a strong turnaround in FY25 with a net profit of $26.9 million and a 35.6% rise in revenue, maintaining steady distributions while navigating a strategic stake in Abacus Storage King amid an acquisition proposal.

Power Minerals Limited reports exceptional high-grade rare earth and niobium intersections from shallow drilling at its Santa Anna Project in Brazil, reinforcing its potential for a significant mineral resource.

Santos Limited reports a 31% drop in net profit for H1 2025 despite increased sales volumes and progress on key projects, while receiving a non-binding acquisition proposal from an Abu Dhabi-led consortium.

Santos Limited has agreed to extend exclusivity with the XRG Consortium, led by Abu Dhabi National Oil Company, to finalize due diligence and progress a potential US$5.76 per share acquisition. The consortium remains committed, but the deal’s completion is still uncertain.

Haranga Resources has secured regulatory approvals and begun underground works at its Lincoln Gold Project, setting the stage for a maiden drilling campaign aimed at upgrading a significant historical gold resource to JORC standards.

Resolution Minerals and Snow Lake Resources have mutually agreed to halt their proposed transaction over the Horse Heaven Project, citing commercial disagreements despite no material due diligence issues.

Decidr AI Industries has agreed to acquire the remaining 49% stake in Decidr.ai, issuing 78.4 million shares to complete full ownership and accelerate its AI platform integration.

Galan Lithium has cleared all hurdles for a $20 million placement to Clean Elements Fund, unlocking funding to complete Phase 1 of its Hombre Muerto West lithium project with production slated for early 2026.