Latest Metallurgical Testwork News

Eminence Minerals has cut its FY2026 loss and raised its pro forma cash position to about A$5.4 million after selling the Mata da Corda titanium project. The portfolio is now centred on Hamersley iron ore and Brazilian rare earth exploration, but heritage litigation, ungranted tenure and future funding needs remain material constraints.

Audalia Resources has outlined a 24.2 million tonne Medcalf resource, a maiden 11.77 million tonne probable ore reserve and study economics of up to $227 million in NPV. But the ASX-listed developer also reported a $1.31 million loss, only $720,861 in cash and an auditor warning over its ability to continue as a going concern.

Power Minerals has extended confirmed high-grade rare earth mineralisation at its Morro do Ferro project in Brazil, with a new hole returning 39 metres at 4.42% TREO from 80 metres downhole. Assays from shallower and deeper sections remain pending, leaving the scale and geometry of the zone unresolved.

Redcastle Resources has quantified 6,600 ounces of gold already mined and sitting on its ROM pad, but the inventory remains a Mineral Resource rather than an Ore Reserve. The stockpiles are ready to move, although processing arrangements are still being negotiated and mining is currently suspended.

TG Metals has outlined a preliminary A$26.8 million pre-tax NPV for a low-capital heap leach operation at its Van Uden Gold Project in Western Australia. The economics are striking, but the study remains an early-stage assessment reliant on further drilling, approvals, financing and technical work.

Alliance Nickel has approved a second phase of vat leach testing after preliminary NiWest results supported continued evaluation of the alternative processing route. The potential prize is substantial, but quantified recoveries and capital savings remain unproven.

Cobalt Blue has secured a US$150,000 contract to deliver key technical work for Glomar Minerals’ planned US polymetallic nodule refinery. The work takes Project Infinity into a formal Preliminary Economic Analysis, although the project remains at an early evaluation stage and its cost estimates carry a wide accuracy range.

Octava Minerals is pursuing a staged acquisition of a 400km2 fluorspar project in Argentina’s historic Sierra Grande district, backed by an approximately A$1.8 million placement. The opportunity comes with substantial verification risk: the reported grades are historical, non-JORC compliant and have not been independently validated.

Raiden Resources posted a wider FY2026 loss after impairing A$8.86 million of exploration assets, while its cash and term deposits fell to A$11.98 million. The company is now concentrating on Brazil’s Crixás gold tailings project, Bulgarian exploration and a proposed divestment of most of Mt Sholl.

Power Minerals has repositioned around two Brazilian critical minerals projects, led by Morro do Ferro’s thick, high-grade rare earth intersections and a conceptual 10.7Mt Exploration Target. The shift comes with stronger funding and no borrowings, but the audited accounts warn that further financing remains essential.

Stellar Resources has lifted its Heemskirk tin resource to 115.3kt of contained tin while technical studies move toward a prefeasibility study outcome. The company is better funded, but remains pre-revenue and faces the usual capital, permitting and execution hurdles of mine development.

Flynn Gold is pushing Golden Ridge and Firetower towards resource definition, but its FY2026 annual report flags a material going-concern uncertainty and a cash balance of just A$1.11 million. A partially underwritten A$3 million rights issue now sits alongside drilling, permitting and a non-binding processing pathway with Henty Gold Mine.