Latest Ownership Structure News

Matrix Critical Minerals has opened an IPO seeking up to $12 million to advance Orbit Resources’ Narraburra Rare Earths Project. Eligible Orbit shareholders can apply for up to 10 million Matrix shares, although the proposed listing still depends on funding, ASX approval and shareholder consent.

Xstate Resources has secured preferred tenderer status for a 305 square kilometre block in Queensland’s Taroom Trough, with the company set to initially operate a four-party joint venture. The prospective acreage offers exposure to basin-centred gas, associated liquids and light crude, but the licence remains subject to government processes.

Being AI is preparing to transfer 57% of its issued shares to existing shareholders while moving a 14.4% stake to Excalibur Capital Partners. The transactions are due to complete on 12 October, when the company will also receive a new chair and board.

Group 6 Metals has posted a dramatic FY26 turnaround, with revenue reaching $129.0 million and net profit after tax rising to $148.2 million. The stronger balance sheet now faces its next test: converting stockpile-fed production and newly started underground mining into repeatable cash generation.

Celsius Resources has reported a sharply wider FY2026 loss after impairing its disputed interest in the MCB copper-gold project, while an Equinaire credit bid has complicated ownership of the Philippine asset. The company is relying on a pending Opuwo sale, fresh financing and arbitration to keep its development strategy alive.

Tennant Minerals has reported a high-grade maiden resource and further strong drilling at its Bluebird copper-gold discovery, but the annual report carries a material uncertainty over the company’s ability to continue as a going concern. A $2.8 million capital raise completed around year-end provides near-term funding, while further exploration and processing studies remain ahead.

WIN Metals will receive $9.05 million excluding GST from Astral Resources under a tenure and mineral-rights swap at the Mt Edwards Nickel Project. The deal reshapes ownership around Astral’s Mandilla gold plans while leaving WIN with 12.33 million tonnes of reported nickel resources.

Iron Road’s largest shareholder has distributed its remaining 59.72% stake just as the company prepares to restart delayed nickel-copper-gold drilling at Irria. The transition also includes the November retirement of long-serving chief executive Larry Ingle, with no successor named.

Australian Vanadium will pay $500,000 in cash, issue $1.25 million of shares and transfer a royalty to regain control of non-vanadium mineral rights at its Gabanintha project. The deal simplifies the project’s ownership structure, but the newly recovered nickel, copper and gold potential remains unproven and outside the current development case.

Elixir Energy says its Lorelle-3H well reached a peak test rate of 10.5 MMscfd and a stable rate of 2.35 MMscfd during first-phase cleanup. The ASX-listed gas explorer is now preparing for post-soak testing while weighing farm-outs, joint ventures and other structures for its Taroom Trough assets.

Trek Metals has secured a nine-month option to acquire the 154-claim Matrix Manganese Project in Arizona for a total potential cash consideration of A$200,000. The deal offers a low-cost route into a US critical-minerals opportunity, but carries a significant related-party consideration because CEO Derek Marshall owns about 66.67% of the vendor.

Cosmo Metals has secured the Carters Road exploration licence in New South Wales after reconnaissance work returned 4.69% copper and 5.78g/t silver from a single selective rock-chip sample. The result offers an early exploration lead, but does not establish continuity, scale or economic significance.