Latest Ore Reserves News

Canyon Resources has advanced construction at its Minim Martap bauxite project, but a lender’s drawdown suspension has delayed first shipment and created material uncertainty over the company’s ability to continue as a going concern. The annual report also details a recommended rejection of A2MP’s A$0.05-a-share takeover offer.

Apollo Minerals ended 2026 with A$7.74 million in cash and no debt after raising A$9.3 million, but remains a loss-making explorer with no JORC Mineral Resources or production. The company is now concentrating its exploration story on the reinstated Couflens tungsten-gold project in France, while carrying a conceptual zinc-lead target in Gabon.

Rumble Resources has moved Western Queen closer to a potential 2027 gold start, pairing a larger resource with third-party processing access and A$10 million in royalty funding. The project remains pre-production, however, with approvals, financing, feasibility work and a final investment decision still outstanding.

Tribune Resources delivered a sharply stronger FY2026 result, with revenue up 28.4% and profit attributable to shareholders rising to $75.7 million. The result was helped by a $35.0 million reversal of the prior Raleigh impairment, while operating cash flow and year-end cash both fell.

Axel REE has more than doubled the Woolrich resource to 264.6 million tonnes and delivered its first Indicated classification at the Brazilian rare earths project. The upgrade comes as the loss-making explorer prepares a controlled in-situ recovery field validation program, with A$5.73 million in cash at year-end.

Pilbara Gold has lifted the Mt York resource by 50% to 2.08 million ounces while advancing a prefeasibility study and restarting drilling at Roe Hills. The annual report also warns that planned exploration spending could require another capital raise within 12 months.

Right Resources posted a A$5.16 million loss for FY2026 and warned of material uncertainty over its ability to continue as a going concern, despite A$3.24 million in cash at year-end and a subsequent A$2.94 million capital raise. The explorer is betting that new drilling at Blue and a revised geological model at Pilot can improve the investment case.

Minerals 260 has emerged from FY26 with a 6.2Moz Bullabulling resource, a maiden 2.5Moz reserve and a pre-feasibility study pointing to a 19-year gold operation. The project is now moving into definitive feasibility, but debt funding, approvals and a final investment decision remain ahead.

Venari Minerals has moved Red Mountain from grassroots discovery to a 3.03Mt lithium carbonate equivalent inferred resource, backed by 99.5% battery-grade lithium carbonate test work. The next test is commercial rather than geological, with drilling, permitting and a planned Scoping Study now competing against a large loss and ongoing funding needs.

KGL Resources says its Jervois copper project is funded through construction and ramp-up after a US$300 million Wheaton agreement and a post-year-end A$300 million equity raising. The company is now targeting a final investment decision in the second half of 2026 and first copper concentrate in 2028, while its annual report highlights the execution risks still attached to that timetable.

Wildcat Resources has entered FY27 with a $60 million placement, a $37.2 million year-end cash balance and its Tabba Tabba lithium project advancing towards a definitive feasibility study. The funding strengthens the development runway, but final investment approval, financing and approvals remain ahead.

GreenX Metals has put a conceptual copper-silver target at Tannenberg and a major Poland arbitration award at the centre of its next phase. The annual report also shows the cost of that strategy: a $12.34 million loss, a $4.42 million project impairment and continued reliance on equity funding.