Latest Exploration Funding News

Citigold Corporation Limited has faced intense ASX scrutiny following an adverse auditor opinion on its half-year financials, centering on a $20 million impairment of exploration assets. The company defends its valuation approach despite funding uncertainties and regulatory questions.

Classic Minerals Limited has completed the sale of its Kat Gap tenements for A$7 million, using the proceeds to retire debt and accelerate exploration at its Lady Ada and Lady Magdalene gold projects within the Forrestania region.

Red Mountain Mining has raised $400,000 through convertible notes to fund drilling at its Kiabye Gold Project in Western Australia and further exploration at the Armidale Antimony-Gold Project in New South Wales.

Elixir Energy has successfully closed its Share Purchase Plan, raising an additional $117,000 and bringing total capital raised to $7.1 million, supported by new shares and free attaching options.

Dreadnought Resources has partnered with Teck Resources in a $15 million farm-in and joint venture to advance the Money Intrusion Ni-Cu-Co-PGE prospect at Mangaroon, WA. This deal brings a major global player into the project, accelerating exploration while preserving Dreadnought’s gold ambitions.

RareX Limited has won a $175,000 government-backed drilling grant to advance exploration of significant gallium mineralisation at its Khaleesi Project in Western Australia, underpinning the project’s critical minerals promise.

Evolution Energy Minerals initiates a strategic review and cost-cutting at its Chilalo graphite project while progressing a farm-out deal for its Chikundu Cu-Pb-Zn VHMS prospect with Oscillate plc.

Mantle Minerals has identified four promising new drill targets at its Mount Berghaus project following a high-resolution gravity survey, while seeking government co-funding to advance exploration.

Norfolk Metals has secured a binding earn-in agreement to acquire a majority stake in the Carmen Copper Project in Chile, backed by a $1 million capital raising commitment. The company is progressing exploration plans alongside ongoing work at its uranium and gold-copper projects.

North Stawell Minerals Ltd reported a significant reduction in cash reserves for the quarter ending March 2025, highlighting a potential capital raising as exploration activities near completion.

AustChina Holdings has completed a strategic placement raising $412,500 to fund exploration of newly acquired gold and antimony prospects in Tasmania, marking a key step in its resource expansion strategy.

Hawk Resources has identified eight promising copper-gold targets at its Cactus project in Utah, supported by geophysical data and soil assays, while advancing its exploration funding and drilling plans.