Latest Ore Reserves News

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.

EcoGraf has replaced its earlier Epanko announcement after ASX correspondence, setting out the assumptions behind a potential increase in Stage 1 production to 87,600 tonnes per annum. The higher-throughput case lowers estimated unit costs, but remains preliminary and is not yet the basis for project financing or a final investment decision.

Alkane Resources has reported a transformational FY2026, with the Mandalay merger helping lift revenue to A$935.8 million and profit after tax to A$228.7 million. The enlarged gold and antimony producer has also declared its first dividend and approved a buy-back, while setting broadly stable production guidance for FY2027.

Osmond Resources’ preliminary study has put a US$2.31 billion post-tax NPV on its Spanish rare earths and mineral sands project, but the headline economics rest on a scoping-level model and a US$300 million funding requirement. The next test is whether drilling, metallurgy, permitting and financing can turn the attractive concept into a financeable mine.

Lynas Rare Earths has agreed to acquire Meteoric Resources in an all-share deal valued at about A$968 million, adding the Caldeira rare earths project in Brazil to its portfolio. The proposed transaction would materially expand Lynas’ resource base, but still depends on shareholder, court and Brazilian regulatory approvals.

Helix Resources is shifting its exploration focus from Arizona towards Pilbara gold after a year of acquisitions, portfolio reassessment and a narrowed annual loss. The strategy reset comes with only $83,676 in cash, a stated need for further funding and a proposed Mosquito Creek acquisition awaiting shareholder approval.

Hastings Technology Metals has cut its annual loss sharply, but its latest report flags a material uncertainty over whether the pre-production rare earths company can secure the funding needed for Yangibana and its proposed Thai processing plant. The uncertainty comes as Wyloo seeks to sell its 60% Yangibana stake despite a study showing attractive project economics.

Somerset Minerals reported a $2.17 million statutory profit for 2026, but the result was driven mainly by a gain on divesting its Blackdome-Elizabeth subsidiaries rather than recurring operations. The company’s Coppermine copper campaign delivered strong Jura and Talisker drilling results while its auditor warned that further funding is needed to sustain exploration.

Black Rock Mining has advanced early works at its Mahenge graphite project, but the annual report warns that securing approximately US$298 million of project funding by November is critical to its survival as a going concern. The company ended FY2026 with A$4.7 million in cash and an A$7.6 million net loss.

Manuka Resources has moved its Wonawinta and Mt Boppy restart from planning towards production, but its FY26 annual report carries a qualified audit opinion and warns of material uncertainty over its ability to continue as a going concern. The company recorded no sales revenue, a $28.1 million loss and $26.1 million of operating cash outflows.

Aurora Energy Metals (ASX:1AE) swung to a $21.8 million profit after selling its Oregon uranium project, but the result was driven largely by a non-cash accounting gain. The company’s concentrated Eagle Nuclear Energy stake was valued at about $15.5 million by the annual report date, down from $23.9 million at 30 June.