Latest Offtake News

CuFe is seeking to take full ownership of its Tennant Creek copper-gold-bismuth project by issuing 1.6 billion shares to the holders of the remaining 45% interest. The deal could simplify development decisions, but would also leave Gold Valley and its associates with about 53% of CuFe if completed.

BCI Minerals has pushed the Mardie project to 90% construction completion, while crystallised salt rose more than fivefold to 266,000 tonnes during the September quarter. The company still targets first salt on ship in calendar 2027, but the timetable depends on summer evaporation and the final commissioning push.

Critica’s Jupiter Scoping Study points to a potentially large Western Australian rare earths operation with a modelled pre-tax NPV of A$2.7 billion and after-tax NPV of A$2.0 billion. The headline economics remain preliminary, rely on modelled pricing and tax incentives, and require about A$556 million in pre-production capital that has not yet been secured.

TG Metals has advanced its Van Uden gold development and Lake Johnston lithium project, including a high-return heap-leach study and a maiden 6.71Mt lithium resource. But the ASX explorer ended September with A$1.523 million in cash, equivalent to just 1.05 quarters of funding at the reported spending rate.

Cobalt Blue has signed a non-binding term sheet with Swiss trader STG Metals for cobalt metal from its proposed Kwinana refinery. The proposed deal covers up to 1,000 tonnes a year, but construction, product qualification and a definitive agreement remain outstanding.

NOVONIX has replaced a binding PowerCo supply agreement covering at least 32,000 tonnes of synthetic graphite with a framework that leaves volume and price unresolved. A new offtake deal will only be negotiated after customer qualification and further certification.

Orion Minerals has made Glencore’s US$40 million Tranche A financing unconditional, clearing the way for development of the Uppers Mine at its Prieska copper-zinc project in South Africa. The larger US$210 million package for the Deeps remains conditional, leaving the project’s full build-out dependent on further funding.

Hazer Group has expanded its commercial pipeline through a paid Japanese utility study assessing hydrogen facilities of up to 300,000 tonnes per year, while its KBR alliance advances a standardised commercial-scale design. The company ended September with A$8.3 million in cash and reported A$12.9 million in pro-forma funding, but remains pre-revenue in the quarter.

Latrobe Magnesium says its Phase 1B demonstration plant is 95% installed and 35% commissioned, keeping first magnesium metal crowns above 98% purity on track for the end of 2026. The operational advance comes alongside a tight funding position, an extended A$3.4 million entitlement offer and an ambitious South Carolina expansion plan.

Vysarn delivered another year of rapid earnings growth, with revenue rising 31% and net profit after tax climbing 41% to $15.11 million. The bigger test now is whether its $65.3 million capital raise and Welltech acquisition can turn a growing collection of water businesses into a genuinely national platform.

Aura Energy’s Tiris uranium project has emerged from its bankable feasibility study with a US$500.3 million post-tax NPV and a target to produce by the end of 2028. The economics are substantial, but the funding package is not secured and nearly one-third of the mine plan relies on Inferred Resources.

Mount Ridley Mines says its patent-pending Selectro process recovered 91.9% of aluminium and 96.7% of iron from a third-party bauxite sample at below 100°C. The test produced a small, pH-neutral silica-rich residue instead of conventional red mud, but product purification, economics and scale-up remain unproven.