Latest Joint Venture News

Finder Energy has secured a conditional contract for the Hakuryu-5 semi-submersible rig to drill three development wells offshore Timor-Leste, with two further wells optional. The approximately US$42.3 million gross contract gives the Kuda Tasi and Jahal project a defined drilling window, but financing and multiple approvals remain outstanding before Final Investment Decision.

Native Mineral Resources delivered its strongest quarter since restarting the Blackjack plant, with fine gold outturn up 84% to 2,330.9oz and operating cash flow turning positive. The result improves the production picture, but the company remains reliant on debt-funded development and a steady handover from Mid Pit to North Pit.

MGX Resources has reported its first Central Tanami resource statement since acquiring a 50% stake, giving the company an attributable 1.4 million ounces of gold. The shift comes as Koolan Island’s remaining iron ore resources fall to 3.3 million tonnes and its Ore Reserves are reduced to zero ahead of a planned divestment.

Contact Energy’s September operating data showed stronger mass-market sales and sharply lower generation costs, although retail and wholesale netbacks eased. The company is also progressing three renewable projects with total approved costs of $1.263 billion as near-term wholesale prices climb.

Helix Resources says the Supreme Court of British Columbia has declared its Gold Basin earn-in and joint venture agreement unenforceable and ordered the company to pay petition costs. The ruling puts the Arizona project’s future with Helix in question, while the company says its White Hills project is unaffected.

Odyssey Gold has terminated its toll milling agreement with Gylden Resources after a dispute with its Tuckanarra joint venture partner over the authority to sign the deal. A replacement agreement remains under discussion, leaving the project’s proposed processing pathway unresolved.

Power Minerals has reported 91 metres at 7.7% TREO from surface in a new Morro do Ferro drillhole, including 23.1 metres at 17.5% TREO. The result strengthens the case for continuity ahead of a maiden resource estimate, while a separate non-binding Salta lithium venture has been terminated.

Finbar has completed its largest-ever apartment development by lot count, issuing titles for the 342-lot Garden Towers project in East Perth and opening the way for settlements. The 50% joint venture is 82% sold, with $210 million in sales recorded to date and revenue recognition expected in H1 FY27.

Legend Mining is preparing to test its Pyrophyllite Hill gold prospect with a 50-hole aircore program after completing heritage surveys. The explorer ended September with $9.24 million in cash, although the reported 19.5-quarter funding estimate is based on a relatively modest quarter of spending.

Canterbury Resources is advancing two sizeable Queensland copper projects, but its FY2026 annual report puts the company’s funding position firmly in the spotlight. The explorer ended June with $220,503 in cash and a material uncertainty over its ability to continue as a going concern.

Rumble Resources has renewed attention on its Earaheedy zinc-lead-silver project, pointing to a 94Mt inferred resource and metallurgical work that produced a 61% zinc-plus-lead bulk concentrate. The company is now testing separate concentrates and seeking strategic partners, but the project remains short of a definitive development case.

Ionic Rare Earths has moved its Belfast magnet recycling project closer to construction while expanding into the United States through a proposed US$100 million joint venture. The progress comes with key funding, approvals and definitive agreements still outstanding.