Latest Exploration And Evaluation News

Lakes Blue Energy reported a $19.67 million FY26 loss, ended the year with just $433,804 in cash and disclosed a material uncertainty over its ability to continue as a going concern. Its key Wombat-5 well found gas-bearing zones but failed to establish commercial deliverability, leaving the company dependent on further remediation, flow testing and capital.

NeuRizer has secured agreements worth AUD$12.7 million with Reliance Industries, offering a potential funding bridge for its coal-gasification technology. But the company’s FY2025 accounts show a larger loss, just $183,666 in year-end cash and a material dependence on continued funding and creditor support.

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.

Caprice Resources has put its Murchison gold portfolio at the centre of a larger exploration campaign after extending Vadrians mineralisation and raising A$12.8 million. The company remains pre-production and loss-making, with a maiden resource estimate still to come.

Altair Minerals finished 2026 with A$33.7 million in cash after major equity raisings, giving it room to pursue a large Greater Oko drilling campaign in Guyana. The balance-sheet improvement came alongside a wider A$4.81 million loss, substantial dilution and an unresolved dispute with BHP over Olympic Domain.

Blackstone Minerals has reported a larger FY2026 loss and warned of material uncertainty around its ability to continue as a going concern, despite ending the year with $13.7 million in cash. The company is directing its remaining financial capacity towards the Mankayan copper-gold project while seeking to reduce exposure to its Vietnam nickel assets.

Gateway Mining has reported a year of aggressive expansion across Western Australia, led by new gold discoveries at Yandal and a sharp increase in exploration spending. The company remains loss-making and pre-revenue, but entered the new financial year with a larger funding base after a further $45 million placement.

West Coast Silver has crossed from explorer to resource-stage company after defining 2.795 million ounces of contained silver at Elizabeth Hill. The project has generated strong drilling results and fresh funding, but the company remains loss-making and yet to establish an economic development case.

SQX Resources Limited (ASX:SQX) has emerged from a transformational year with two advanced US gold projects, broad shallow mineralisation at Red Bird and exceptional underground assays at Williams. The exploration gains came alongside a $1.83 million loss, falling cash and a further $2.47 million capital raising completed after year-end.

Gold Mountain expanded its Brazilian rare earths portfolio during FY2026, taking Irajuba beyond its original conceptual target and confirming ionic adsorption clay characteristics at Capivara. The progress came alongside an $8.137 million loss, a $4.798 million impairment charge and continued reliance on equity funding.

Pursuit Minerals posted an A$666,579 FY2026 profit, but the result was driven largely by a fair-value gain on its Kendrick Resources investment rather than operating revenue. The company’s more consequential development is in Argentina, where Rio Grande Sur now carries a 1.264 million tonne LCE resource, a maiden probable reserve and a pre-feasibility case for 5,000 tonnes per year of lithium carbonate.