Latest Mineral Systems News

Austral Resources produced 1,457 tonnes of copper in the September quarter, 21% below the low end of guidance, after a crushing upgrade and sulphuric acid shortages disrupted Mt Kelly. The company expects output to recover late in the December quarter, but cash fell to $21.04 million by 30 October after major settlement and development payments.

White Energy has added coal assets in Queensland and Alabama, raised $15 million and completed the South Galilee acquisition after quarter-end. The company ended September with $8.252 million in cash, while exploration delivered fresh copper-gold-silver indicators at Specimen Hill.

American West Metals has completed the technical work for its Storm Copper Project pre-feasibility study and maiden Ore Reserve, while drilling at West Desert continues to widen a copper, zinc and molybdenum system in Utah. The milestones arrive with A$5.453 million in cash and an estimated 1.58 quarters of funding at the quarter-end spending rate.

Bison Resources has expanded its Bald Peaks land position more than fourfold and lodged a Notice of Intent for seven maiden drill pads in Nevada. The exploration push comes as the company awaits results from 900 new rock chip and soil samples, with A$3.514 million in cash at quarter end.

Right Resources has moved its Blue gold-tungsten project from surface mapping to its first subsurface test, with assays due in the December quarter. The exploration milestone comes alongside a tighter funding position, with reported cash coverage of 1.90 quarters and further financing under consideration.

Antimony Resources has moved its Tecomatlán plant into its first plant-scale antimony concentrate campaign, but reported only 0.9 quarters of funding at September’s cash burn. The campaign could provide the company’s first operating proof point, while also sharpening the need for additional financing or commercial revenue.

Fortuna Metals has completed deeper drilling beneath its large inferred Mkanda rutile-graphite resource, returning broad mineralised intersections and a peak rutile grade of 3.43%. The company ended September with A$11.43 million in cash as it moves towards further resource definition and technical studies.

White Energy has pivoted towards thermal and metallurgical coal, completed two acquisitions and raised $15 million after year end. But its FY2026 report records a $3.6 million normalised EBITDA loss, just $0.4 million in unrestricted cash and an auditor-highlighted material uncertainty over going concern.

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.

Rapid Critical Metals has completed maiden drilling at its Prophet River gallium-germanium project, with visible sphalerite and galena logged in all seven holes. The strongest downhole intervals widened at Pad 2, but laboratory assays will determine whether the visual results contain economic zinc, germanium or gallium grades.

Sierra Nevada Gold has started a 25,000-metre second-phase drilling campaign at its As Safra copper-gold project in Saudi Arabia, with the first assay results due in November. The company is directing capital and management attention to Saudi Arabia while exploring commercial options for its Nevada portfolio.

Buxton Resources has returned to profit after selling its 49% Copper Wolf joint venture interest to IGO for A$5.91 million. The transaction lifted cash and term deposit investments to A$7.39 million, but the explorer remains dependent on capital and future discoveries rather than recurring earnings.