Latest Exploration Sector News

Magnum Mining’s recent entitlement offer attracted only 22% subscription, failing a key regulatory condition and rendering the offer void. The company now faces the challenge of securing alternative financing to maintain its strategic momentum.

Piche Resources has received formal environmental approval to begin its maiden drilling campaign at the Cerro Chacon gold-silver project in Argentina, targeting a 14 km mineralised corridor with 57 planned drill holes.

ALS Limited reported a 16% revenue increase to nearly $3 billion in FY2025, driven by acquisitions and organic growth, while underlying net profit after tax dipped slightly. The company announced a $350 million equity raise to fund expansion and sustainability initiatives.

Australian Rare Earths Limited has identified a uranium roll front gamma signature at its Overland Uranium Project, confirming an ISR amenable sedimentary uranium setting and setting the stage for expanded drilling in July 2025.

Flynn Gold has confirmed a significant new quartz vein system at its Grenadier Prospect in Tasmania, with high-grade gold assays and a 10-tonne bulk sample collected for metallurgical testing. Drilling approvals are now in place to further explore this promising greenfield discovery.

Trinex Minerals Limited has announced a significant 127:1 security consolidation affecting its ordinary shares, options, and performance rights, pending shareholder approval and set to reshape its capital structure by mid-July.

Terramin Australia’s subsidiary has nearly doubled its unsecured loan facility with major shareholder Asipac Group and extended loan terms to mid-2026, underpinning its corporate strategy amid ongoing financing plans.

Aston Minerals Limited held crucial shareholder and optionholder meetings to approve its merger with Torque Metals Limited, marking a significant step toward consolidation in the minerals exploration sector.

Moho Resources has completed the sale of its Empress Springs Project, securing an initial payment of $408,500 with a deferred $300,000 to follow next year, reinforcing its asset optimisation strategy.

Bryah Resources has requested an immediate suspension of its shares on the ASX as it prepares to announce a significant acquisition. The suspension follows a recent trading halt and is expected to last until the announcement or the resumption of trading on May 21.

Aguia Resources has initiated a 25-hole diamond drilling campaign at its Santa Barbara Gold Project in Colombia, aiming to define a maiden JORC resource and explore extensive vein systems.

Accelerate Resources has refined its exploration strategy at the Kanowna East gold project by leveraging historic and new gravity survey data, identifying key structural intersections that enhance drill targeting. An imminent 2,000m reverse circulation drilling program is set to test these promising zones.