Latest Exploration And Evaluation News

Grand Gulf Energy has progressed its Petroleum Exploration Licence application offshore Namibia and continued development discussions for its Red Helium Project, maintaining a disciplined capital approach during the December 2025 quarter.

West African Resources Limited reported a robust cash flow for the December 2025 quarter, ending with a strong cash position of A$584.1 million. The company’s operating activities generated significant cash inflows, offsetting substantial investing and financing outflows.

WA1 Resources reports exceptional assay results from the Luni Niobium Project alongside significant pre-development progress and government recognition as a Major Project.

Everest Metals Corporation Ltd reported a cautious quarterly cash flow with net outflows from operations and investing, while securing a significant $18.6 million financing facility for its Mt Dimer project development.

Empire Resources has reported promising drill results from its Yuinmery Copper-Gold Project, revealing high-grade mineralisation and new gold prospects, while awaiting assay results from Pennys Gold drilling.

Metal Bank Limited ended December 2025 with nearly $2 million in cash and has since bolstered its liquidity through a significant asset sale and share placement. These moves position the company for sustained exploration activity amid cautious operating cash flows.

Magnetic Resources NL has upgraded its Lady Julie Gold Project resource to 2.24 million ounces, with over 80% now in the Indicated category, positioning the company closer to development readiness. The LJN4 deposit remains a standout as one of Western Australia’s largest and highest-grade undeveloped open pit gold deposits.

Magnetic Resources NL has strengthened its financial position with a significant equity raise, ending December 2025 with a robust cash balance of $35.4 million. Despite ongoing exploration expenses, the company’s funding runway now extends beyond 18 quarters.

Juno Minerals has finalised the sale of its Mount Mason DSO Hematite Project for A$6 million plus royalties, while advancing exploration at its flagship Mount Ida Magnetite Project with promising gold assay results and planned drilling.

Tesoro Gold Limited ended December 2025 with a strong cash position of AUD 29.2 million, supporting more than four quarters of exploration and operating activities. The company’s latest cash flow report reveals steady financing inflows amid ongoing investment in its gold exploration projects.

Canadian Phosphate Limited reported a solid cash position of AUD 2.44 million at the end of December 2025, supported by financing activities and ongoing preparations for bulk sample mining in Canada.

Ordell Minerals has reported exceptional high-grade gold intersections at its Barimaia Gold Project, with drilling poised to restart in February targeting further extensions. Meanwhile, promising surface gold anomalies at the Goodia Project set the stage for upcoming exploration.