Latest Offtake News

Central Petroleum has swung to a $4.9 million FY2026 statutory loss after writing down two Amadeus Basin permits, but its gas business generated higher revenue and margins. The company is now betting on Palm Valley drilling, long-term contracts and new east coast acreage to restore growth.

Condor Energy has consolidated 100% ownership of its offshore Peru acreage and moved its 1 Tcf Piedra Redonda gas discovery closer to commercialisation. The company enters FY2027 with a larger resource base and stronger project control, but auditors have warned that additional funding is needed to sustain operations.

Orion Minerals has set out a clearer route towards first production at its Prieska copper-zinc project, but its audited FY2026 accounts warn that further funding remains essential. The company reported a A$12.69 million loss and A$14.46 million in cash while targeting first production in Q3 2027.

Chariot Resources has secured A$1.1 million from institutional and sophisticated investors to advance its proposed Nigerian lithium acquisition, exploration and partner-funded development program. The raising also brings potential option dilution and only partially addresses the company’s secured debt.

Latrobe Magnesium has detailed the capital, feedstock and valuation assumptions behind its proposed 50 ktpa magnesium plant in South Carolina. The project retains strong headline economics, but funding, feasibility work and a final investment decision remain ahead.

Global Lithium’s Manna-Nova integration study nearly doubles the project’s post-tax NPV to A$945.7 million while cutting funded pre-production capital by 59%. The plan targets first direct shipping ore in May 2027 and spodumene concentrate production by mid-2027, but still depends on funding, approvals and a final investment decision.

Talga has signed a non-binding LOI with German battery maker EAS Batteries for a potential five-year supply agreement covering Talnode graphite anode products. No volumes or purchase obligations have been agreed, with product qualification and negotiations now scheduled to run into 2027.

Avenira has agreed to supply Hebang with 500,000 wet metric tonnes of Wonarah phosphate rock annually for four years, covering more than 80% of expected DSO production. The commercial opportunity is substantial, but pricing, approvals and project arrangements remain unresolved.

Tungsten Mining has produced saleable tungsten concentrate grading up to 65.9% WO3 from its Watershed project in Queensland, confirming the conventional processing route planned for its DFS. Marketing samples have now been sent to potential offtakers, although no binding agreements have been signed.

American Tungsten & Antimony has started an ahead-of-schedule campaign to produce antimony flake at its Del Sol refinery in Nevada, using material from Arizona. The first physical demonstration of its proposed US mine-to-metal chain could generate samples for customer qualification and government discussions, although the underlying asset acquisition remains incomplete.

Latrobe Magnesium is shifting its growth priority to a proposed 50 ktpa magnesium plant in South Carolina, backed by 32 ktpa of non-binding customer interest and a 20-year feedstock agreement. The project carries substantial indicative economics, but still needs funding, site acquisition, feasibility work, permits and binding offtake contracts.

True North Copper expanded its copper growth pipeline in FY26, but the annual report makes clear that exploration momentum still depends on fresh capital. The company ended the year with A$7.1 million in cash and a A$7.5 million Mt Oxide payment due in December.