Latest Papua New Guinea News

Augustus Minerals has completed heritage surveys and soil sampling at its Music Well gold project, setting the stage for maiden drilling, while its Mt Kare project in Papua New Guinea moves through permitting with plans for aggressive development.

De.mem Limited has acquired Core Chemicals Pty Ltd for $2.68 million, nearly doubling its EBITDA and positioning itself to capitalise on a surging gold sector. The deal combines strong recurring revenues with significant synergy potential.

De.mem Limited has acquired Core Chemicals Ltd for approximately $3 million, significantly expanding its footprint in the Australian gold mining sector and enhancing its pro-forma EBITDA to $1.6 million.

IMDEX Limited reported a resilient FY25 with steady margins, reduced net debt, and strategic acquisitions positioning it for growth. The company’s FY26 outlook is optimistic, supported by improving global exploration activity and technology adoption.

Bougainville Copper Limited remains inactive in production but advances talks with international mining firms to revive the long-dormant Panguna Project, backed by the Autonomous Bougainville Government.

Canterbury Resources is on the cusp of completing a pivotal scoping study for its Briggs Copper Project, while deep drilling advances to unlock higher-grade mineralisation. The company also moves forward with new exploration initiatives and a share purchase plan to bolster funding.

Tolu Minerals has raised A$60.5 million through a well-supported institutional placement to fund exploration and refurbishment at its Tolukuma Gold Mine, signaling confidence in its growth strategy.

St Barbara Limited has secured approximately A$58 million through an institutional placement to fund its Simberi Expansion Project and advance the 15-Mile Processing Hub in Nova Scotia. This capital raise supports the company’s growth ambitions amid ongoing regulatory and operational developments.

St Barbara Limited has raised A$58 million through an institutional placement to fund key growth initiatives including the Simberi mobile fleet expansion and the 15-Mile Processing Hub pre-feasibility study.

Gold Mountain Limited has increased its capital raise to $2 million by issuing nearly 30 million shares at a slightly higher price, lifting its voluntary trading suspension and reinforcing its exploration ambitions.

Gold Mountain Limited has voluntarily suspended trading on the ASX pending an announcement that will update the issue price of a recent capital raising placement.

St Barbara Limited forecasts a 21% increase in gold production for FY26 at its Simberi Operations, with costs expected between A$4,000 and A$4,400 per ounce. However, key capital investment decisions hinge on unresolved Papua New Guinea tax assessments and mining lease approvals.