Latest Heap Leach News

Horseshoe Metals has outlined a substantially larger conceptual open pit at Horseshoe Lights, containing 95,033 tonnes of copper under a A$25,000-per-tonne price assumption. The result supports further studies, but does not yet establish an Ore Reserve or a development case.

Cyprium Metals has issued 61.35 million shares in the first tranche of its A$20.7 million placement, securing the bulk of the proposed equity funding. A further 1.42 million shares for directors remains conditional on shareholder approval in December.

Austral Resources produced 1,457 tonnes of copper in the September quarter, 21% below the low end of guidance, after a crushing upgrade and sulphuric acid shortages disrupted Mt Kelly. The company expects output to recover late in the December quarter, but cash fell to $21.04 million by 30 October after major settlement and development payments.

Macro Metals lifted mining services work performed to approximately A$2.8 million in the September quarter as its first BHP Mt Goldsworthy package ran ahead of schedule. The operational progress comes alongside a thin A$392,000 quarter-end cash balance, followed by a proposed A$3.28 million funding package to accelerate Pilbara exploration.

Alvo Minerals has expanded its Bluebush heavy rare earth project in Brazil, with new ground, encouraging clay intercepts and Florence drilling advancing toward a maiden resource. But quarter-end cash of A$227,000 covered only 0.28 quarters of reported outgoings before a subsequent A$1 million placement and option exercises.

Atomic Eagle has formalised a 60% interest and operational control of the Madaouela uranium project in Niger while continuing exploration and metallurgical testing at Muntanga in Zambia. The company also secured approximately $10.9 million from an early option exercise after quarter end, but Madaouela’s large resource remains a foreign estimate pending JORC conversion.

Broken Hill Gold has increased the Vertigo resource by 43% while drilling continues to reveal high-grade gold-copper sulphides beneath White Dam’s Icebreaker prospect. The company ended September with A$12.6 million in cash, but its proposed production restart still depends on further drilling, refurbishment and mine economics.

Argent Minerals has added weight to the expansion case at its Kempfield silver project, with high-grade mineralisation extending beyond the current resource boundary. But the ASX-listed explorer ended September with A$1.725 million and an estimated 1.34 quarters of funding at its current cash outflow.

Cyprium Metals has secured an approximately A$20.7 million institutional placement and outlined a proposed debt extension that could take its staged Nifty funding package to A$83 million. The capital is aimed at advancing the open-pit feasibility study, infrastructure upgrades and a major SXEW expansion while first cathode production remains targeted for Q4 2026.

Red Metal is advancing a pre-feasibility study for a potential 20 Mtpa heap leach operation at Sybella, backed by encouraging Fresh Granite test work and a 5,000 metre drilling program. The company ended September with A$3.031 million in cash, equivalent to an estimated 1.9 quarters of funding at the current operating cash rate.

OzAurum Resources has strengthened the technical case for a low-capex heap leach operation at Mulgabbie North, with column testing delivering up to 95% gold recovery. But the project’s next phase is now tied to a capital raise after cash fell to A$542,000, equivalent to just 0.8 quarters of estimated funding.

Australian Rare Earths has produced its first Mixed Rare Earth Hydroxide at the Koppamurra pilot plant while extending an interpreted carbonatite system at Overland by roughly 5km. The operating progress comes with two important qualifiers: Koppamurra still needs further product refinement and Overland assays remain pending.