Latest Office News

Lithium Universe ended September with A$429,000 in cash and estimated funding of just 0.82 quarters after reporting no exploration, development or production activity. The company says it is reducing operating expenditure and assessing further funding options.

Cavalier Resources has moved its Crawford Gold Project from permitting into execution, with primary mining approvals secured and site preparation underway. The next test is funding: the proposed A$23 million package remains under negotiation while the company holds A$2.694 million in cash.

Mantle Minerals is changing the geological model at Carlton Hill, moving away from shallow stratiform targets towards potentially structurally controlled zinc-lead and copper mineralisation. The explorer ended September with A$5.232 million in cash and says its current spending rate represents 31.59 quarters of funding.

Australian Gold and Copper has expanded the high-grade Evergreen discovery in NSW while pushing towards an initial mineral resource estimate. The exploration momentum is substantial, but the company’s reported 1.93-quarter funding runway puts future drilling and financing firmly on the agenda.

Peninsula Energy has reported materially stronger flow rates at several Lance header houses and reconfirmed its 500,000 to 600,000-pound CY2027 production target. The operational gains come alongside a US$30 million convertible debt draw, US$11.5 million of quarterly operating cash outflows and only 2.9 quarters of estimated funding at the current burn rate.

Jameson Resources has nearly doubled its targeted capital raising to A$9.73 million, giving the Crown Mountain steelmaking coal project a larger funding runway as its final environmental application moves towards submission. The company ended September with A$8.322 million in cash and is targeting an environmental certificate in the first half of 2027.

Precinct Properties will no longer pursue its Auckland Downtown Car Park redevelopment under current market conditions, citing higher interest rates, inflation and construction risk. The decision unlocks a NZ$103 million capital distribution, a buyback of up to NZ$50 million and a lower FY27 dividend.

Arbitr Group generated NZ$0.34 million of operating cash in the September quarter despite NZ$0.86 million in fraud, remediation and restructuring costs. The result offers a useful operating signal, but the company ended the period with just NZ$2.16 million in cash after confirming total losses of about NZ$9 million from a former US employee’s misappropriation.

Vectus Biosystems has secured FDA acceptance of a pre-IND Type B meeting for VB0004, a key regulatory step for its idiopathic pulmonary fibrosis programme. The biotech ended September with $410,000 in cash and reported estimated funding for just 1.33 quarters of operations.

The Supreme Court of Western Australia has approved Evolution Mining’s scheme to acquire the Carnaby Resources shares it does not already own. The transaction is expected to become effective on 30 October, with Carnaby’s ASX delisting targeted for 11 November.

Orion Minerals has moved Prieska’s Uppers Mine closer to construction after Glencore’s US$40 million Tranche A financing became unconditional. The company ended September with A$9.62 million in cash, while the larger US$210 million Tranche B package remains conditional.

European Lithium’s proposed merger with Critical Metals Corp. has cleared shareholder and court approval, with implementation scheduled for 5 November and EUR expected to leave the ASX. The quarterly report also puts a $296.5 million cash balance, Tanbreez drilling and Greenland mining approvals at the centre of the company’s final standalone update.