Latest Iron News

Deterra Royalties has paid US$74.15 million for a royalty covering most of Ivanhoe Electric’s Santa Cruz copper project in Arizona. The deal adds a third core asset, but its projected returns still depend on financing, permitting and a targeted 2029 production start.

Manhattan Gold Corporation (ASX:MHC) has emerged from a transformational year with encouraging Hook Lake drilling, expanded tenure and a sharper gold focus, but no compliant resource yet and only A$2.01 million in year-end cash. The company reported an A$8.90 million loss after absorbing exploration costs and a large loss on its lithium divestment.

Element 25 has moved its Butcherbird manganese expansion from feasibility into project delivery, targeting mechanical completion and commissioning in the first quarter of calendar 2027. The company also strengthened funding and commercial support, although construction, financing conditions and the absence of FY2026 revenue leave execution as the central test.

Lincoln Minerals has moved Minbrie’s Eagle Ridge prospect towards diamond drilling after air core work supported its geological model. But the ASX-listed explorer remains loss-making, cash-burning and dependent on further funding to continue its exploration program.

Magnetite Mines is seeking up to A$1.5 million through a discounted share purchase plan and potential top-up placement to advance the Razorback green iron project. The raise offers free options, but also highlights the company’s continuing reliance on external funding and future strategic partners.

Perpetual Resources has warned of material uncertainty over its ability to continue as a going concern after its FY2026 loss more than tripled. The ASX-listed explorer finished the year with A$2.34 million in cash, but remains dependent on further capital raisings to fund Nevada Scheelite and Brazilian exploration.

Barramundi Limited (NZX:BRM) has reported the worst performance in its 20-year history, with a NZ$42.9 million net loss and a 17.0% fall in gross portfolio performance. The board is reviewing Fisher Funds’ management performance just weeks before its five-year agreement comes up for renewal.

Peregrine Gold has reported a $3.47 million FY2026 loss and $3.56 million operating cash outflow, with its auditor highlighting material uncertainty over the company’s ability to continue as a going concern. Against that financial pressure, the ASX-listed explorer is preparing RC drilling across two high-grade channel iron prospects and advancing several gold targets in the Pilbara.

Cullen Resources posted a $340,251 FY2026 profit after selling its Wyloo iron ore royalty for $1.5 million. The result came with a qualified audit opinion over its remaining iron ore-related assets and a warning that further capital raisings will be needed.

Equatorial Resources has completed the final procedural steps in its high-value Congo arbitration, with an ICSID award indicatively expected in the first half of 2027. The cash-backed explorer is also defending a separate A$4.85 million claim from former legal adviser Clifford Chance.

Metals Australia has established a maiden 45.7Mt Inferred VTM resource at Manindi West, alongside test work producing titanium oxide above 99% purity. The opportunity is sizeable, but remains an early-stage resource supported by conceptual expansion targets and screening-level economics.

Pearl Gull Iron turned a $514,327 loss into a $1.50 million profit after selling its Cockatoo Island Project. But the ASX-listed explorer remains suspended, holds no mining tenements and is yet to identify its next project.