Latest Mineral Resource News

Kantra Copper has lifted Kanmantoo’s Ore Reserve by 31% to 5.2 million tonnes, adding a maiden reserve for Emily Star and extending the underground mine plan to December 2029. The expansion supports a positive pre-tax NPV, but the scheduled production rate remains below the company’s stated 2 million tonne annual goal.

Boab Metals has strengthened the case for its Sorby Hills silver-lead project, extending the mine life to 10.5 years while reporting construction progress and higher Norton recoveries. The project remains targeted for first concentrate in Q3 2027, but the quarter also consumed A$30.9 million in cash and left the A$236 million debt facility undrawn.

FireFly Metals has struck a new copper-gold VMS system at Mount Joy, delivering a 22.5-metre intersection grading 2.5% copper equivalent near its Green Bay infrastructure in Newfoundland. A second hole encountered about 40 metres of semi-massive sulphides, although laboratory assays are still pending.

Brightstar Resources has secured A$82 million to accelerate exploration and early development work at Sandstone, where Two Mile Hill is emerging as a potential cornerstone asset. Genesis Minerals will invest A$30 million for a 5.4% stake, while Brightstar says Goldfields construction remains separately funded and on schedule for first gold in the June quarter of 2027.

Brightstar Resources has secured A$82 million from institutional and strategic investors, including a A$30 million cornerstone investment from Genesis Minerals. The funding will accelerate drilling, feasibility work and early mine development at the Sandstone Gold Project while Goldfields construction remains separately funded for first gold in the June quarter of 2027.

Turaco Gold has reported extensions to high-grade mineralisation across its Afema project in Côte d’Ivoire, with a resource update due in the December quarter. The company finished September with $47.4 million in cash as it moves towards a Definitive Feasibility Study targeted for the June 2027 quarter.

Alara Resources delivered its strongest quarterly copper sales since commercial operations began, while production remained above nameplate capacity at its Oman mine. Yet the company says the parent may need to raise about A$6 million in FY27 to cover a projected cash shortfall.

Black Canyon has put a 36.1Mt manganese and iron resource behind its Wandanya development push, supported by promising beneficiation testwork and a 3.4km mineralised base case. The next test is whether the December Scoping Study can turn those geological results into a credible project case.

Viridis Mining and Minerals Limited (ASX:VMM) has moved its Colossus rare earths project into execution after reporting a US$1.20 billion after-tax NPV and securing strategic equity commitments of up to US$120 million. The project still needs definitive debt, offtake and approvals before a Final Investment Decision can unlock full construction.

West Wits Mining has nearly tripled monthly underground development at Qala Shallows and says the project remains funded through to steady-state production. Stoping is scheduled to begin in February 2027, while surface infrastructure has reached 61% completion.

Locksley Resources is redirecting its exploration effort towards a district-scale copper-gold strategy in New South Wales, backed by A$13.383 million in cash. The company has also abandoned further investment in its Rice University antimony technology after concluding the commercial case was too uncertain.

Prodigy Gold is drilling a deep, untested target at Hyperion while new ore-sorting results strengthen the case for a potential Old Pirate restart. The ASX-listed explorer is also relying on a fully underwritten A$7.92 million entitlement offer after ending the quarter with A$1.95 million in cash and only 1.9 quarters of reported funding.