Latest Groundwater News

Australian Vanadium has moved its flagship project closer to an Optimised Feasibility Study while adding new industrial battery opportunities with Alcoa. But the September quarter also reduced cash to $12.4 million, leaving an estimated 2.5 quarters of funding at the reported spending rate.

Caravel Minerals is moving its 100%-owned Caravel Copper Project towards a Definitive Feasibility Study due in the fourth quarter, but the annual report also flags a material uncertainty over its ability to continue as a going concern. The company remains pre-revenue, with approvals, project finance and key commercial arrangements still incomplete.

Global Lithium’s September quarter combined a recommended A$333 million cash takeover with a sharply improved development case for its Manna lithium project. The proposed Titan deal remains conditional, while the new study’s strong returns depend on lithium prices, exchange rates and execution.

Ark Mines’ updated Sandy Mitchell study outlines a 26-year rare earths and heavy minerals operation with a post-tax NPV of A$883 million. The economics are substantial, but depend on refined garnet pricing, uncommitted funding, further approvals and metallurgical work.

American Uranium has increased its Lo Herma uranium resource by 16% and lifted the Indicated portion by 72%, while positive aquifer testing supports the technical case for in-situ recovery. The gains come with a pressing funding question, as AMU reported only 0.4 quarters of available cash at September end.

Metro Mining increased third-quarter shipments by 17% from the previous quarter and secured 4.5 million wet metric tonnes a year of binding offtake for 2027 to 2029. The result came with lower guidance, elevated costs and operational disruptions still weighing on the business.

Sun Silver’s latest quarter produced broad silver-gold-antimony intercepts beyond the current Maverick resource, alongside metallurgical recoveries above 84% and a new Nevada water permit. The results strengthen the technical case for further study, but the company remains an explorer with about 2.6 quarters of funding at its current spending rate.

Alliance Nickel has approved a second phase of vat-leach testing at NiWest after preliminary results supported continued evaluation of an alternative processing route. The potential prize is a major reduction in water infrastructure, but the company still has to prove the metallurgy, groundwater supply and economics.

Castile Resources has reaffirmed a striking A$1.07 billion pre-tax NPV8 for Rover 1, with bismuth now adding a fifth revenue stream. But the preliminary study still depends on substantial funding, unfinished testwork and a mine plan partly based on Inferred Resources.

Energy Transition Minerals has completed the acquisition of the Penouta tin, tantalum and niobium mine in Spain and is advancing the studies and permits needed for a potential restart. The company ended September with A$28.93 million in cash, equivalent to 8.4 quarters of funding at the latest reported spending rate.

Havilah Resources has swung to a $77.2 million FY2026 profit after securing the Kalkaroo transaction with Sandfire, but the result is dominated by deal accounting rather than mining revenue. The South Australian explorer ended the year with $40.9 million in cash and almost $100 million in listed investments.

American Uranium’s Mine Unit 1 pump test sustained 19.2 gallons per minute for 48 hours, producing results the company says support an in-situ recovery development pathway at Lo Herma. The data now feed into a planned Scoping Study, although further testing and permitting work remain.