Latest Groundwater News

Coda Minerals has recovered up to 83.3% of the cobalt remaining after leaching into a concentrate representing just 4% of the residue mass. The result adds a potentially valuable recovery step to Elizabeth Creek, but it remains preliminary laboratory work and is absent from current project economics.

Evolution Energy Minerals has moved its Chikundo copper project into maiden drilling, with chalcopyrite seen in two of the first three holes after quarter end. The company also cleared a Tanzanian licence default notice, while its A$2.25 million cash balance leaves the larger Chilalo development still dependent on funding and execution.

Critica’s Jupiter Scoping Study points to a potentially large Western Australian rare earths operation with a modelled pre-tax NPV of A$2.7 billion and after-tax NPV of A$2.0 billion. The headline economics remain preliminary, rely on modelled pricing and tax incentives, and require about A$556 million in pre-production capital that has not yet been secured.

Vysarn delivered another year of rapid earnings growth, with revenue rising 31% and net profit after tax climbing 41% to $15.11 million. The bigger test now is whether its $65.3 million capital raise and Welltech acquisition can turn a growing collection of water businesses into a genuinely national platform.

Santana Minerals has moved the Bendigo-Ophir Gold Project closer to development, with a draft Fast-track Approvals decision expected in the December quarter and a competitive project debt process now underway. Strong Rise and Shine drilling and an A$179.7 million quarter-end cash balance provide further support, although construction remains conditional on approvals, financing and a final investment decision.

QEM has completed its move into Idaho, acquiring the Big It and Garden Valley projects and outlining staged exploration of historical tungsten, antimony, gold and rare-metal targets. The company ended September with $3.98 million in cash while keeping major Julia Creek expenditure on hold.

Tāiko Critical Minerals has completed the final resource estimate for its Barrytown project, taking the project-wide inventory to 35.0 million tonnes. The result strengthens the base for feasibility work, but the extension still depends on consent and further drilling to address sampling uncertainty.

Coda Minerals has moved Elizabeth Creek closer to a targeted first-quarter 2027 pre-feasibility study, backed by improved leach recoveries, drilling and fresh funding. But the copper developer remains loss-making, burned A$8.87 million in operating cash and will likely need further capital to progress beyond the study stage.

Ballard Mining is seeking up to A$50 million to fund aggressive drilling, early infrastructure and feasibility work at its Mt Ida Gold Project. The raise gives the developer a larger runway towards a mid-2027 development decision, but comes with dilution and no guarantee the full amount will be secured.

Axel REE is moving its Caladão rare earths project into the next technical test: exploratory in-situ recovery work at the Woolrich deposit. The company says bench-scale testing has recovered up to 560ppm soluble TREO, but field performance, groundwater behaviour and project economics remain unproven.

Rumble Resources has delivered key dewatering equipment to Western Queen and submitted the notification needed to begin pumping, while its updated mine study moves into October. The project still depends on one major approval, financing terms and favourable feasibility results before a decision to mine.

NeuRizer has secured agreements worth AUD$12.7 million with Reliance Industries, offering a potential funding bridge for its coal-gasification technology. But the company’s FY2025 accounts show a larger loss, just $183,666 in year-end cash and a material dependence on continued funding and creditor support.