Latest Project Development News

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.

Centaurus Metals has signed the contract securing initial 20MW of 230kV grid power for its Jaguar nickel project in Brazil. The infrastructure milestone removes one development hurdle, while funding negotiations and final connection approvals remain outstanding.

Riversgold has lodged the Mine Development and Closure Proposal for its Northern Zone open-pit project near Kalgoorlie, moving the planned mine into its final major approval phase. The project remains conditional on regulatory sign-offs, but MEGA Resources is set to fund development under an extended cooperation agreement.

KGL Resources has awarded Sedgman the design, procurement and construction contract for the processing plant at its Jervois Copper Project, moving the Northern Territory development closer to a final investment decision. The expanded scope includes early installation work for future plant additions, while KGL says the contract remains consistent with its baseline cost and schedule assumptions.

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.

RareX has moved Cummins Range through key permitting and heritage milestones, while stronger metallurgical results broaden the project’s critical-minerals potential. But the explorer’s annual loss widened to A$5.07 million, cash burn remained high and its going-concern assessment still depends on future funding and project development.

WA Gold has posted a A$2.36 million annual loss and warned that additional working capital is needed to continue as a going concern. The company is nevertheless pressing ahead with Abercromby drilling and a potential 114,000-ounce staged development.

Vanadium Resources has repositioned its Steelpoortdrift project around a proposed V-Iron plant producing pig iron and vanadium-bearing slag for Western markets. The strategy has secured a non-binding U.S. offtake framework and advanced site and funding work, but the auditor has flagged material uncertainty over the company’s ability to continue as a going concern.

Cooper Metals finished FY2026 with a $611,935 loss and $1.81 million in cash, while its post-year-end Pyramid Gold acquisition reshaped the exploration portfolio. The deal brought AIC Mines in as the company’s largest shareholder, but a larger pool of options and performance rights also raises the importance of future funding and exploration results.

Pursuit Minerals posted an A$666,579 FY2026 profit, but the result was driven largely by a fair-value gain on its Kendrick Resources investment rather than operating revenue. The company’s more consequential development is in Argentina, where Rio Grande Sur now carries a 1.264 million tonne LCE resource, a maiden probable reserve and a pre-feasibility case for 5,000 tonnes per year of lithium carbonate.

Adavale Resources is presenting its 610-square-kilometre Parkes Gold Project as a belt-scale opportunity with 383,300 ounces of reported gold resources and existing processing infrastructure. The next test is whether metallurgical work, a scoping study and funding can turn that inventory into a credible development plan.