Latest Mining Services News

Astral Resources has boosted its Mandilla Gold Project resource to 1.74 million ounces of gold, with drilling confirming significant mineralisation and the Definitive Feasibility Study progressing towards completion in early 2027.

Medallion Metals has reported significant high-grade drilling results extending the Gem deposit at its Kundip Mining Centre, reinforcing growth potential and supporting the early mine plan at the Ravensthorpe Gold Project.

Strata Minerals has broadened its Zelica Gold Project in Western Australia by acquiring two new tenements and launching a high-resolution aeromagnetic survey to sharpen drill targets and uncover new exploration opportunities.

Mitchell Services reported a robust FY26 with EBITDA up 67% and a net cash position of $3.5 million, driven by a shift towards gold projects and rising rig activity.

Babylon Pump & Power has initiated a $12.7 million rights issue at a 37.5% discount to restore working capital, reduce debt, and expand its water management rental fleet, aiming to lift its ASX trading suspension.

Perenti's subsidiary AMS, through AMAX Ltd, has secured a six-month contract extension at the Iduapriem Gold Mine in Ghana, including the sale of mining equipment valued between A$30 million and A$40 million to AngloGold Ashanti.

Toubani Resources has completed its acquisition of a near 20% equity interest in Avanti Gold by issuing shares and options, extending its footprint beyond Mali into the Democratic Republic of Congo gold sector.

Neometals Ltd has restarted exploration drilling at its Barrambie Project in Western Australia, focusing on expanding known copper and gold mineralisation at the Rinaldi and Ironclad deposits.

Genesis Minerals and Vault Minerals have agreed to merge, creating a top-3 Australian gold producer with a pro-forma market cap of about A$12.66 billion and annual production of 600-700koz.

Macro Metals has secured 100% of the Yandi South Iron Ore Project, adding a historical 4.28Mt resource and promising exploration upside near major Pilbara mines. The deal complements its existing Extension Iron Project stake and mining services contracts.

Babylon Pump & Power has secured $0.4 million in convertible loans from key shareholders and plans a $12.7 million rights issue at a 35% discount to address working capital shortfalls and reduce debt.

Manuka Resources has lifted the Wonawinta Silver Mine's Ore Reserve by 28%, underpinning its imminent restart of silver and gold production with upgraded plant facilities and contracted mining operations.