Latest Minerals Exploration News

Osmond Resources has secured the maximum €250,000 provisional grant in the first round of Spain’s national mineral exploration program, while preparing to start a 13-hole campaign at its Orión project. The company has also issued 85 million shares to retain its 80% interest in the project-owning vehicle.

Heavy Minerals reported a sharply wider FY2026 loss and a $3.15 million net working capital deficit, with its auditor flagging material uncertainty over the company’s ability to continue as a going concern. The balance sheet pressure sits alongside stronger project milestones, including a post-year-end Port Gregory study and the push to fund Kanmantoo.

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.

Tasman Resources has swung to a $16.5 million FY2026 profit after booking a $19.48 million gain when Eden Innovations ceased to be controlled. The explorer also ended the year with $5.65 million in cash and no borrowings, but its next test is geological rather than accounting: drilling at Titan West and Parkinson Dam.

Dalaroo Metals has moved from a Western Australian base-metals explorer into a three-country gold and critical-minerals play, but its next phase depends on drilling success and continued access to capital. The annual report records a $2.63 million loss, $509,442 in year-end cash and a material uncertainty over going concern.

Koonenberry Gold posted a sharply wider FY2026 loss after impairing its namesake project, while exploration spending rose and Enmore drilling extended a gold system to depth. The company has since raised $3.78 million from a placement, but remains dependent on equity funding.

Killi Resources has emerged from FY2026 with $14.68 million in cash and a far larger strategic ambition, centred on its proposed 80% acquisition of the Lodestone Iron Ore Project. The company remains loss-making and the transaction was still conditional at year-end, but a 20,000-metre drilling campaign is now targeting rapid resource growth.

Sabre Resources has expanded into a 4,000-square-kilometre Northern Territory gold and copper-gold portfolio, but its FY2026 loss more than doubled as cash declined. The company now has drilling underway and fresh capital, alongside a growing funding and dilution burden.

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.

Temas Resources has generated its first revenue from its regenerative chloride leaching technology, but the milestone arrives alongside a wider first-half loss, declining cash and an explicit need for further funding by Q4 2026. The company ended June with C$3.39 million in cash and a C$933,940 estimated flow-through tax liability.

Cadoux says resampling of 21 historical Danube drill holes has extended rare earth-zircon mineralisation up to 1.4 kilometres north of its June Exploration Target and opened a southern target area. The results move the project towards planned infill drilling, a maiden Mineral Resource and a Scoping Study, but key mineralogy and access hurdles remain.

Minerals Exploration has pivoted decisively into New Zealand gold and tungsten, but its annual report carries a material going-concern warning after a $2.66 million loss and $949,097 operating cash outflow. Exploration has produced encouraging surface samples and broad gold zones, though no mineral resource has been established.