Latest Lightning News

American West Metals has converted part of its Storm resource into a maiden 12.58Mt Ore Reserve and outlined an 11-year copper mine in Nunavut. The project shows a US$118.9 million post-tax NPV at the company’s base-case prices, but still depends on funding, permitting and a further study before construction can begin.

Terrain Minerals has completed a $1.65 million placement and entitlement offer, but still has $856,872 of shortfall securities available to place. The funds are supporting an 86-hole Lightning drilling campaign aimed at upgrading the project’s mineral resource in Q2 2027.

Terrain Minerals has started its largest-ever Smokebush drilling campaign after establishing a 54,000-ounce inferred gold resource at Lightning, while newly identified tungsten adds a second critical-minerals angle. The exploration momentum comes with a clear funding constraint: quarter-end cash covered only 1.16 quarters of reported outgoings, before the company placed its remaining rights issue shortfall.

Otto Energy ended the September quarter with US$25.6 million in cash and no debt, despite weaker commodity prices cutting revenue by 8%. Oil output rose, but the company’s next moves now hinge on shareholder approval of a proposed A$20 million capital return and separate strategies for its Gulf assets.

Lightning Minerals has enlarged its exploration targets at Mt Turner and Warby, with drilling and assay results now forming the next major catalysts. But the ASX explorer ended September with A$939,000 in cash, equivalent to about one quarter of funding at current outgoings.

Lightning Minerals has secured A$100,000 in non-dilutive cash and a funded 400-metre drilling commitment by granting Kincora Copper a nine-month option over six Lachlan Fold Belt licences. The deal could deliver another A$350,000, but only if Kincora exercises the option, approvals are obtained and a key tenement is renewed.

Superloop has completed its three-year Double Down strategy with revenue up 21.6% to A$664.3 million and net profit reaching A$17.5 million. The ASX-listed telco now turns to SuperCharge29, but its next growth phase begins with substantially higher debt and A$111.4 million of provisional goodwill from the Lightning Broadband acquisition.

Terrain Minerals has begun preparations for its largest-ever drilling program, with 86 reverse circulation holes planned across the Smokebush project in Western Australia. The 10,905-metre campaign will test both the existing Lightning resource and seven new exploration targets, but no new exploration results have yet been reported.

Otto Energy has strengthened its balance sheet and lifted FY2026 profit despite falling production, setting up a proposed A$20 million return of capital. The catch is that reserves are declining, asset-sale plans remain unresolved and part of the cash remains tied to offshore obligations.

Terrain Minerals has identified high-grade tungsten across six Smokebush prospects after re-assaying previously capped samples, with the strongest result reaching 0.75% WO₃. The company plans up to 12 tungsten-focused RC holes, although the mineralisation remains early-stage and only a third of the available samples has been tested.

Lightning Minerals has more than doubled its annual loss after writing off $4.16 million of lithium exploration assets, while its auditor flagged material uncertainty over the company’s ability to continue as a going concern. The ASX-listed explorer is now concentrating its limited resources on Queensland and New South Wales gold and copper projects.

Lightning Minerals has started a 262-sample Phase 3 soil program at its Warby Tungsten Project in North Queensland, with the first 162 samples already at the laboratory. Results expected in October will help determine whether open tungsten anomalies are ready to support maiden drilling.