Latest Economic Studies News

Valiant Gold’s first annual report shows a newly listed gold company with $62.8 million in cash, no debt and two Western Australian projects moving from demerger to execution. The immediate test is whether Comet can be restarted while drilling at Reedy converts resource potential into something mineable.

Mithril Silver and Gold has lifted the higher-confidence portion of its Copalquin Target 1 resource to 464,000 ounces of gold equivalent, giving the Mexican project a stronger base for mine planning. The upgrade comes alongside a larger loss, substantial exploration spending and an auditor’s warning that further funding is needed to support the company’s going-concern status.

Ballard Mining has expanded the Mt Ida Gold Project’s global Mineral Resource Estimate by 56% to 1.836 million ounces, while securing the approvals and cash runway needed to advance development studies. The pre-production company is now targeting a maiden Ore Reserve, feasibility study and Final Investment Decision in the first half of calendar 2027.

Basin Energy’s maiden drilling at Newmans has outlined a 3.3 km shallow magnet rare earth corridor within its expanding Sybella-Barkly project. But the ASX-listed explorer remains pre-revenue, reported a larger annual loss and faces a material uncertainty over its ability to continue funding operations.

Augustus Minerals has reported broad gold mineralisation at its Clifton East prospect in Western Australia, including a 1m interval grading 19.5g/t gold. The explorer’s FY2026 loss narrowed, but continued drilling remains dependent on further equity funding.

Sinclair Gold’s FY2026 annual report captures the company’s rapid shift from a small explorer to a well-funded Mt Henry-focused gold developer-in-waiting. The project’s resource stood at 915,000 ounces at year-end, before a post-year-end update lifted it to 1.8 million ounces after 20,426 metres of drilling.

Caspin Resources has reported its strongest Bygoo tin intersection to date, while early test work points to 83.8% tin recovery into a high-grade concentrate. The gains come with familiar exploration-stage caveats: a $5.70 million annual loss, $5.03 million of operating cash outflow and continued reliance on equity funding.

Mont Royal Resources has used its first post-merger annual report to set out the scale of the Ashram rare earths project, while flagging the funding, permitting and technical work still ahead. The updated study outlines a 30-year operation with a C$2.03 billion post-tax NPV, but remains a preliminary assessment rather than a development guarantee.

Prospect Resources has taken its flagship Mumbezhi Copper Project to 208.1 million tonnes, while lifting ownership to 90% and securing A$45 million for the next phase of work. The project remains pre-production, leaving the upcoming Scoping Study and further drilling to convert geological scale into an economic case.

Viking Mines has confirmed thick tungsten intervals both beneath and above historic workings at its Linka project in Nevada, including 18 metres at 0.42% WO3 and 13 metres at 0.46% WO3. The results strengthen the geological model, but reassays affecting parts of two holes leave an important qualification hanging over the latest batch.

Castle Minerals has identified six ranked gold targets across its 212km² Nielle project in Côte d’Ivoire, including previously unreported intercepts of up to 8m at 3.65g/t gold from surface. The company is preparing an Exploration Target for the historically drilled zone while planning new drilling, subject to the permit being granted.

Sierra Nevada Gold has begun mobilising a five-rig, 25,000m exploration campaign at its As Safra Copper-Gold Project in Saudi Arabia. The program will test Central Copper’s resource potential while opening up more than 12km of broader discovery targets, with first assays expected in November 2026.