Latest Magnetite News

Coppermoly Limited has secured $1.75 million in capital, appointed geologist Dickson Leah as CEO, and uncovered significant magnetic anomalies at its Mt Isa prospects, setting the stage for test drilling in Q2 2025.

Aldoro Resources has reported significant progress at its Kameelburg REE-Niobium Carbonatite Project in Namibia, confirming a substantial polymetallic discovery and expanding its Phase I drilling program with full funding secured.

Mindax Limited has secured $7.75 million through a share placement and acquired strategic stakes in Doublebell Resource Wealth and Cashmere Iron, advancing its vision to develop the Mid-West region into a major iron ore hub.

Freehill Mining reported a seasonal slowdown in sales and logistical challenges in Q3 FY2025 but strengthened its position with a new site acquisition and a $700,000 capital raise to fuel growth in Chile’s construction materials market.

Athena Resources has kicked off a new drilling program at its Byro South Prospect and progressed metallurgical testing, alongside a successful $2.67 million capital raise and a key leadership appointment.

Hawsons Iron Limited has completed key process optimisation activities, including promising dry grinding tests that suggest significant energy and cost savings. The company is finalising a Project Study and attracting new investor interest following recent industry engagements.

Tombador Iron Limited reported a modest cash increase to AUD 10.9 million in the March quarter, driven by royalty income from its sold Tombador project, while progressing the acquisition of the Colomi Iron Project in Brazil and preparing for ASX re-listing.

Mayur Resources has completed a significant $100.1 million capital raise and secured $115 million in debt to fully fund its Central Lime Project in Papua New Guinea, while progressing construction and community agreements. The company is also rebranding to Pacific Lime and Cement Limited to reflect its new strategic focus.

CZR Resources has terminated its prior deal with Miracle Iron and endorsed a superior A$75 million cash offer from the Rio Tinto-led Robe River Iron Associates JV for its Robe Mesa Project. The company retains promising gold and titanium-vanadium assets while preparing for shareholder approval.

Terra Metals has made significant strides at its Dante polymetallic project, producing three high-grade concentrates and extending mineralisation, while securing a strategic tenement option to expand its resource base.

Genmin Limited marks a pivotal quarter with the appointment of CEO Andrew Taplin, signing of a key mining convention with Gabon, and a binding MoU with Sinohydro to advance its flagship Baniaka iron ore project.

Red Mountain Mining has advanced exploration across its Fry Lake, Armidale, and Kiabye projects, identifying promising gold and antimony targets and preparing for follow-up drilling and sampling programs.