Latest Ore Reserve News

Daly Resources has emerged from its June ASX debut with $11.05 million in cash, a 6,500 km² Northern Territory exploration portfolio and a growing list of drill targets. The catch is familiar for early-stage explorers: the company has yet to define a mineral resource or reserve, while its strongest Huckitta results remain surface sampling rather than drilling.

Ballard Mining is seeking up to A$50 million to fund aggressive drilling, early infrastructure and feasibility work at its Mt Ida Gold Project. The raise gives the developer a larger runway towards a mid-2027 development decision, but comes with dilution and no guarantee the full amount will be secured.

PC Gold will acquire the last third-party mining leases inside its Spring Hill development area, adding a water licence and operating rights for A$6.5 million. The deal could simplify mine planning and approvals, but still requires Northern Territory ministerial approval and does not add a reported resource.

West African Resources produced a record 127,950 ounces of gold in the September quarter, keeping its 2026 guidance within reach. Strong output at Kiaka offset weaker Sanbrado production, although explosives permitting remains an unresolved operational constraint.

Anson Resources has raised Green River’s modelled post-tax NPV8 to approximately US$1.046 billion after incorporating two conditional Utah incentives. The uplift leaves the project’s US$569 million capital estimate and lithium-price assumption unchanged, but the benefits remain tied to construction, performance and financing milestones.

Kingsgate Consolidated has converted a full year of Chatree mining into record financial results, with revenue up 77% and net profit reaching A$277.9 million. The balance sheet is stronger, dividends have returned and Nueva Esperanza is moving towards a feasibility decision, but higher waste movement and project execution now replace the turnaround story.

Forrestania Resources has outlined a maiden 223,300-ounce JORC Mineral Resource at Tampia, a previously mined deposit positioned 140km from the Edna May processing plant. The estimate gives the newly acquired Westonia Hub another potential ore source, but relies on an AUD 6,000/oz gold price assumption and includes 104,800 ounces classified as Inferred.

Burley Minerals has confirmed shallow Channel Iron Deposit mineralisation across the North and Step-Out Targets at its Cane Bore project, with assays averaging 50.6% Fe across reported intersections. The mineralisation remains open northeast and southwest, but further drilling, metallurgy and approvals are still required before any resource can be defined.

An independent transport study has found Alurion Resources’ Amargosa bauxite project can use established road routes for assessed haulage volumes up to 11.5 wet million tonnes a year, twice its Scoping Study base case. The result gives the project’s pre-feasibility study a firmer logistics foundation, although it does not establish a larger production target or guarantee port access.

Great Boulder Resources has reported further shallow, high-grade gold intersections from its 40,000-metre Peak Hill drilling campaign, including 9 metres at 4.17g/t gold from just 6 metres at Enigma. Results at Enigma and Five Ways point to continuity and potential open-pit upside, although further drilling and resource updates remain ahead.

BMC Minerals has intersected significant silver, zinc, gold, copper and lead mineralisation in all nine reported holes at the Rhyolite Peak prospect, 1.2km from its proposed ABM mine. Six further assays are pending as the company moves toward completing its 20,000m 2026 drilling program.

Heavy Minerals reported a sharply wider FY2026 loss and a $3.15 million net working capital deficit, with its auditor flagging material uncertainty over the company’s ability to continue as a going concern. The balance sheet pressure sits alongside stronger project milestones, including a post-year-end Port Gregory study and the push to fund Kanmantoo.