Latest Iron News

Temas Resources has generated its first revenue from its regenerative chloride leaching technology, but the milestone arrives alongside a wider first-half loss, declining cash and an explicit need for further funding by Q4 2026. The company ended June with C$3.39 million in cash and a C$933,940 estimated flow-through tax liability.

Athena Resources has expanded its Byro Magnetite Project resource to 76.3 million tonnes and begun drilling at Narryer, the prospect earmarked for potential early development. The progress came with a $1.11 million FY2026 loss, a non-binding joint venture and fresh funding still supporting an exploration-stage business.

Tarrina Resources has identified five kilometre-scale IOCG target zones at Walparuta after soil sampling returned copper values up to 2,891 ppm and gold up to 466 ppb. The planned 23-hole drill campaign remains subject to native title, heritage, land access and government approvals.

Gullewa’s full-year profit fell sharply despite a $2.98 million royalty stream from the Deflector Project. The company is expanding its property and gold exposure while maintaining a fully franked dividend of 0.7 cents per share.

Black Canyon has established a maiden 23.6Mt manganese resource at Wandanya in Western Australia, alongside 12.5Mt of iron mineralisation. The high-confidence estimate includes potential direct-shipping material, while a scoping study is targeted for completion in December.

Firebird Metals is moving from manganese exploration towards downstream battery materials, with its Perth demonstration plant backed by a A$2 million ARENA grant. But the ASX-listed company remains loss-making, has A$3.61 million in cash and faces a material uncertainty over its ability to continue without further funding.

Eminence Minerals has cut its FY2026 loss and raised its pro forma cash position to about A$5.4 million after selling the Mata da Corda titanium project. The portfolio is now centred on Hamersley iron ore and Brazilian rare earth exploration, but heritage litigation, ungranted tenure and future funding needs remain material constraints.

Tempest Minerals has reported a $4.62 million FY2026 loss after impairing $3.28 million of exploration assets, while cash fell to $969,693. The company retains exposure to Range gold drilling, the Remorse iron deposit and a $3.08 million Capricorn Metals shareholding, but says further funding will be needed to sustain exploration.

Juno Minerals has completed the sale of its Mount Mason project for A$6 million plus a 2% production royalty, but the buyer has pushed development into 2027. The company is now concentrating on finding a partner for its large, capital-intensive Mount Ida magnetite project.

Audalia Resources has outlined a 24.2 million tonne Medcalf resource, a maiden 11.77 million tonne probable ore reserve and study economics of up to $227 million in NPV. But the ASX-listed developer also reported a $1.31 million loss, only $720,861 in cash and an auditor warning over its ability to continue as a going concern.

Oceana Metals has begun a 20,000-metre diamond drilling campaign at its Serra Negra rare earths project in Brazil, backed by high-grade historic assays and fresh capital. But the company’s $11.5 million FY2026 loss and an auditor-highlighted material uncertainty over going concern add a harder edge to the exploration story.

Temas Resources and SAGA Metals have begun an eight-week optimisation program aimed at turning strong laboratory recoveries into a defined processing flowsheet and first high-purity titanium, vanadium and iron products. A successful stage could lead to a C$650,000-C$750,000 mini-pilot, although that funding remains subject to technical results and SAGA approval.