Latest Ore Reserves News

Mont Royal Resources has used its first post-merger annual report to set out the scale of the Ashram rare earths project, while flagging the funding, permitting and technical work still ahead. The updated study outlines a 30-year operation with a C$2.03 billion post-tax NPV, but remains a preliminary assessment rather than a development guarantee.

VRX Silica has assembled much of the commercial and regulatory case for Arrowsmith North, including 960,000 tonnes per annum of binding offtakes and a reported A$179.2 million project NPV. The harder test now is funding construction while final approvals, logistics contracts and a final investment decision remain outstanding.

EcoGraf’s preliminary review has identified potential to lift Epanko Stage 1 production from 73,000 to 87,600 tonnes per annum, while reducing first-10-year C1 costs by 5.8%. The higher-output case remains subject to further engineering, financing work and a Final Investment Decision.

Leeuwin Metals ended FY2026 with a 342,300-ounce Marda resource, which increased to 378,600 ounces shortly after year end following further Evanston drilling. The gold explorer is now shifting towards permitting and mine planning, although it remains loss-making, has no Ore Reserves and expects to require further funding.

Legacy Minerals enters FY2027 with a larger Mt Carrington resource, a positive preliminary development study and fresh drilling underway, but the proposed mine still requires substantial funding. The ASX-listed explorer reported a A$1.85 million FY2026 loss and held A$6.07 million in cash at year-end.

Lachlan Star’s 2026 annual report puts its 90%-owned New Waverley project at the centre of the company’s exploration strategy after drilling outlined shallow, high-grade gold mineralisation across roughly 400 metres. The company ended the year with $6.52 million in cash, but remains loss-making and without a mineral resource or ore reserve.

Ballymore Resources has extended high-grade silver-lead-zinc-indium mineralisation closer to surface at its Torpy’s discovery in North Queensland. The latest drilling supports a multiple-shoot interpretation, but the project remains at an early exploration stage with assays pending and no Mineral Resource defined.

Brightstar Resources says laboratory testwork across deposits representing about 80% of its Sandstone resource supports a conventional gravity and carbon-in-leach processing route, with average recoveries around 94%. The results provide the processing basis for the project’s pre-feasibility study, although Bull Oak and further variability testing remain outstanding.

Core Lithium has moved Finniss from care and maintenance back into active mining, with first spodumene concentrate produced after year end and a December-quarter shipment targeted. The restart leaves the company with A$181.8 million in cash, but also a substantial execution task ahead as Grants ramps up and BP33 is developed.

Auric Mining has reported a 4-metre intersection grading 10.49 grams per tonne gold west of its planned Munda open pit, alongside a series of high-grade near-surface results inside the Stage 2 design. The results arrive as pit engineering and Ore Reserve work move towards an expected October release ahead of a planned 2027 mining restart.

Bannerman Energy has moved its Etango uranium project materially closer to construction after completing a A$124 million placement and clearing conditions for its CNOL strategic investment. The project is advancing on site, but full-scale construction still depends on Final Investment Decision and completion of the joint venture documentation.

Wia Gold has moved Kokoseb from exploration into a proposed mine development backed by a 1.95 million ounce Probable Ore Reserve, A$217 million in equity raised since May and indicative US$360 million debt terms. The funding pathway is substantial, but it still depends on permits, lender approvals and final documentation before construction can fully proceed.