Latest Murchison News

S2 Resources reported a $12.7 million profit after selling its Greater Fosterville licence to Agnico Eagle, which also invested $3 million in the explorer. With $18.6 million in cash, S2 is now moving toward drilling across gold and copper targets, though access, approvals and rig availability remain the immediate constraints.

Mamba Exploration has secured approvals for a maiden 6,000m RC drilling programme at Meeka East, while historical data supports a 3km copper corridor between Copper Hills and Lady Alma. A post-quarter $6.0 million placement leaves the explorer funded for its next phase, subject to the remaining tranche and exploration execution.

Austin Metals has sharpened its gold targets at Brunswick Hill and Mt Sandy after completing 4,215 metres of reverse circulation drilling, including a standout 12-metre intersection at 1.67 g/t gold. The exploration progress comes with a near-term funding question, as the company ended September with $1.091 million in cash and estimated funding of 1.11 quarters.

OZZ Resources has completed its return to the ASX with a new critical minerals focus, but its $3.884 million cash balance is yet to translate into Bedaburra exploration spending. The company is now seeking to expand the Western Australian project while it rebuilds its exploration pipeline.

Westgold Resources delivered record FY26 production, earnings and cash generation while expanding its gold reserves and laying out a path towards 500,000 ounces a year. The challenge now shifts from funding growth to executing a crowded pipeline of mine, mill and exploration projects without losing operational discipline.

MLG Oz delivered a stronger earnings year, with statutory NPAT rising 19.2% and underlying EBITDA margin expanding to 13.4%. The mining services group has resumed dividends while taking on higher fleet investment and debt ahead of FY2027.

BOA Resources has secured firm commitments for a $9.245 million placement to fund the next phase of exploration across its 100%-owned Neds Creek copper project in Western Australia. The raise comes as high-grade Ricci Lee results build momentum, with further assays from 104 holes still pending.

New Murchison Gold will return approximately $27 million to shareholders through its first fully franked dividend, following a strong first operating period at Crown Prince. The 0.25 cents-per-share payment is backed by reported cash generation and forecast flows from Crown Prince and Cloudkicker.

Scorpion Minerals has outlined a materially larger open-pit opportunity at Old Prospect, with an optimisation identifying 16,159 ounces of gold from two pits. The result is an early development signal, but it depends on a A$6,000 per ounce gold assumption and is not yet a feasibility study or ore reserve.

Westgold Resources has completed a A$33.3 million infrastructure program at Beta Hunt, where an annualised 2Mtpa mining rate was reached in September. The company is now targeting sustained performance at that rate from Q2 FY27, while warning that the mine’s original life-of-mine ventilation system still requires repair, recommissioning or replacement.

Albion Resources has secured $1.8 million from sophisticated and professional investors to expand drilling at its Gidgee Gold Project, after an initial aircore hole returned a high-grade gold intersection. The raise will also support the planned acquisition of additional exploration ground, although further drilling is needed to establish continuity and scale.

Odyssey Gold has terminated its toll milling agreement with Gylden Resources after a dispute with its Tuckanarra joint venture partner over the authority to sign the deal. A replacement agreement remains under discussion, leaving the project’s proposed processing pathway unresolved.