Latest Joint Ventures News

Conico's statutory loss widened sharply in FY2026, largely because of non-cash share-based payments linked to its recapitalisation. The company ended the year debt free with $2.53 million in cash, but warned that funding remains critical as it prepares for Mt Thirsty drilling.

NewPeak Metals reported a $4.36 million FY2026 profit, but the result was driven mainly by fair-value gains and investment disposals rather than mining revenue. The auditor has flagged a material uncertainty over going concern even after the explorer secured a post-year-end $3.5 million placement.

GreenX Metals has put a conceptual copper-silver target at Tannenberg and a major Poland arbitration award at the centre of its next phase. The annual report also shows the cost of that strategy: a $12.34 million loss, a $4.42 million project impairment and continued reliance on equity funding.

American Rare Earths has expanded the proposed Cowboy State Mine in Wyoming to a 4.5 million tonne per year operation with a 26-year mine plan and an estimated after-tax NPV of US$1.07 billion. The stronger study case comes with higher capital, lower recoveries and no Ore Reserves, leaving metallurgy, permitting and funding as the next tests.

Cyprium Metals says its long-delayed Nifty Copper Complex is entering the final commissioning phase, with first copper cathode production expected in the December quarter of 2026. The restart is backed by A$121 million in equity raisings, a refinanced US$27.3 million loan facility and A$68.5 million in cash at year-end.

Odyssey Gold has secured a native vegetation clearing permit and a new mining lease at Tuckanarra, while refurbishment work at the planned Kirkalocka processing facility moves ahead. The first toll milling parcel is targeted for June 2027, but a required joint venture agreement remains unresolved.

European Metals will temporarily lose 6.38 percentage points of its Geomet stake after CEZ agreed to fund a EUR13 million cash call. The company intends to buy back the interest for EUR6.448 million, but must first secure financing by 13 November 2026.

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.

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.

Nex Metals returned to profit in FY2026 after selling its remaining Arika joint venture interest, but the gain did not resolve its underlying funding pressure. The company ended the year with $422,452 in cash, net liabilities of $471,232 and a material uncertainty over its ability to continue as a going concern.

Core Energy Minerals has expanded into an advanced Namibian uranium joint venture, but its annual report flags a material uncertainty over continued operations. The explorer reported a $3.369 million loss, $469,346 in cash and a $1.49 million working-capital deficit for 2026.

PolarX Limited (ASX:PXX) has reported a year of high-grade exploration results across Alaska and Nevada, led by a 24.8-metre copper intercept grading 9.8% at Caribou Dome. The company ended FY2026 with A$10.0 million in cash, but remains loss-making and dependent on future funding and exploration success.