Latest Mining And Exploration News

ASX has suspended trading of Magnum Mining’s MGUN securities following the abrupt cancellation of its entitlement offer, raising questions about the company’s capital strategy.

Critica Limited has initiated bulk metallurgical testwork on a 400 kg sample from its Jupiter Deposit, aiming to refine rare earth element beneficiation and explore by-product opportunities. The project holds over 280,000 tonnes of heavy rare earth elements and faces new geopolitical dynamics following China’s export restrictions.

Magnum Mining’s recent entitlement offer attracted only 22% subscription, failing a key regulatory condition and rendering the offer void. The company now faces the challenge of securing alternative financing to maintain its strategic momentum.

AuMEGA Metals Limited is advancing its exploration programs across multiple projects in Newfoundland, backed by a strong capital position and an experienced management team. The company is focused on expanding its mineral resources and uncovering new deposits in a region gaining attention as a new mining district.

Auric Mining has raised $6.66 million through a strongly supported placement to fund key acquisitions and boost gold production amid record prices.

Catalyst Metals Limited has secured A$150 million in equity to fund organic growth and exploration across its flagship Plutonic Gold Belt and Bendigo Gold Belt projects. The company aims to nearly double gold production to around 200,000 ounces per annum while reducing costs through strategic acquisitions and infrastructure leverage.

Constellation Resources Limited is raising approximately $2.52 million through a non-renounceable entitlement offer priced at $0.12 per share, aiming to fund exploration projects in Western Australia and support general working capital.

Bryah Resources has requested an immediate suspension of its shares on the ASX as it prepares to announce a significant acquisition. The suspension follows a recent trading halt and is expected to last until the announcement or the resumption of trading on May 21.

Regis Resources reports a solid increase in Mineral Resources and Ore Reserves for 2024, driven by significant underground growth at Duketon and Tropicana. Exploration success at key sites underpins confidence in extending mine life and expanding underground operations.

Greenvale Energy has appointed seasoned resources executive Alex Cheeseman as CEO, signaling a strategic push to expand its resource base and enhance shareholder value.

Future Battery Minerals has acquired 100% ownership of the Miriam Project, consolidating all mineral rights and extinguishing royalties, paving the way for a focused gold exploration campaign starting July 2025.

Midas Minerals has secured an option to acquire up to 80% of a highly prospective Exclusive Prospecting Licence near its Otavi Project in Namibia, targeting significant historic gold and copper anomalies.