Latest Geology News

Carnarvon Energy has expanded its Bedout prospective resource inventory by 92% and secured a rig for a 2027 exploration campaign, but Dorado remains stalled before FEED and FID. The company ended FY26 with A$97.7 million in cash, no debt and a A$4.2 million after-tax loss.

Pantoro has increased Norseman’s Mineral Resources by 2% and Ore Reserves by 9% after mining depletion, with the Mainfield delivering the clearest growth. The company also reported a $113.2 million FY2026 profit, but the next test is converting a larger geological inventory into sustained production.

West Coast Silver will begin an 18-hole diamond drilling campaign at Elizabeth Hill in October, targeting resource upgrades, western extensions and a newly defined high-grade zone. The results are intended to feed Mineral Resource Estimate updates and a scoping study in 2027.

Besra Gold’s FY2026 report puts its Gold Purchase Agreement with major shareholder Quantum Metal Recovery at the centre of the company’s financial risk profile. Funding received under the deal has been recorded as a contract liability tied to potential future gold deliveries, while the report also discloses an AU$140,000 payment to a former director.

Auravelle Metals has reported encouraging gold results at Sheoak and expanded its Crown project, but its FY2026 annual report flags a material uncertainty over its ability to continue as a going concern. The company lost A$3.98 million, used A$4.07 million in operating cash and held A$632,721 at year end before completing a further A$1.5 million placement.

New Talisman Gold Mines has outlined a conceptual exploration target of up to 550,000 ounces of gold beyond its existing 350,000-ounce gold-equivalent resource at the Talisman Project. The company now plans 18 to 20 drillholes in calendar Q1 2027 to test six priority mineralised structures.

Mantle Minerals reported a $12.50 million FY2026 profit after selling Mt Roe Mining to Northern Star for $13.5 million, while continuing operations remained loss-making. The company ended the year with $5.50 million in cash and is redirecting capital towards Yule River and Carlton Hill exploration.

Viridis Mining and Minerals Limited (ASX:VMM) has used its FY2026 annual report to present Colossus as a rare earths project moving from study work into execution. The company has reported strong DFS economics and fresh equity funding, but still needs key permits, binding offtake and senior debt before construction can fully proceed.

Adavale Resources has expanded its Parkes gold inventory to 383,300 ounces and consolidated a 610-square-kilometre position around London-Victoria and Calarie. The gains came alongside a larger annual loss, A$4.95 million in operating cash outflows and an auditor warning that future funding remains critical.

Alice Queen has outlined a potentially lucrative Horn Island development case, but the numbers remain preliminary and depend on further drilling, approvals and funding. The gold explorer ended FY2026 with a A$3.55 million loss and A$3.6 million in cash.

Western Ridge Resources reported a $12.22 million loss for the year ended 30 June 2026, with cash falling to $407,860 and its auditor warning of a material uncertainty over the company’s ability to continue as a going concern. The company is now relying on Keystone drilling and further funding to advance its Nevada exploration strategy.

QEM Limited (ASX:QEM) has suspended non-essential work at its Julia Creek vanadium project after metallurgical results undermined the 2024 Scoping Study. The loss-making explorer is now relying on newly acquired Idaho projects, fresh capital and further exploration to justify its next chapter.