Latest Project Evaluation News

Krakatoa Resources advanced drilling at its flagship Zopkhito antimony-gold project in Georgia, but the exploration push more than doubled its annual loss and reduced cash to $739,459. The company subsequently raised $4 million, highlighting the funding needed to keep moving towards a maiden JORC-compliant resource.

Oceana Metals has begun a 20,000-metre diamond drilling campaign at its Serra Negra rare earths project in Brazil, backed by high-grade historic assays and fresh capital. But the company’s $11.5 million FY2026 loss and an auditor-highlighted material uncertainty over going concern add a harder edge to the exploration story.

M3 Mining reduced its FY2026 loss and more than doubled cash after a $2.25 million placement, while exploration work at Edjudina produced priority gold targets. The improvement comes with an auditor-highlighted material uncertainty over the company’s ability to continue as a going concern.

Enterprise Metals has secured $1.2 million in discounted equity funding alongside a proposed board overhaul led by mining executives Phillip Gallagher and Steven Zaninovich. The incoming team will review the company’s Western Australian portfolio and decide where its limited exploration capital should go next.

49 Metals has elevated CEO Phil Carter to Managing Director while shifting Executive Director Oliver Kreuzer into a non-executive and consulting role. The restructure comes with A$265,000 in base pay for Carter and 5 million options exercisable at 25¢ and 30¢.

Image Resources has expanded the Mineral Resource at its Durack mineral sands project by 43% to 37.7 million tonnes, while lifting contained heavy minerals and zircon content. The upgraded estimate gives the company a stronger technical base for an economic evaluation due later in 2026, although changes to the cut-off and mineral definitions complicate direct comparisons.

West Coast Silver has installed Serge Smolonogov as CEO, consolidating leadership to drive resource growth and project evaluation at its high-grade Elizabeth Hill silver project.

Audalia Resources has raised $450,000 through a placement of 15 million shares at 3 cents each, aiming to push the Medcalf project towards production while maintaining working capital.

American Uranium has launched extensive aquifer pump testing at its Lo Herma Mine Unit 1, reinforcing progress toward in-situ recovery development and feeding data into a Q4 2026 Scoping Study.

Argosy Minerals has made significant strides in its 12ktpa Rincon Lithium Project, delivering encouraging process testwork results and securing critical 40MW energy infrastructure, while engaging strategic partners for funding.

Oceana Metals has validated extensive high-grade rare earth mineralisation at its Serra Negra project in Brazil, underpinning a major drilling campaign backed by a $20 million capital raise.

Odessa Minerals has reported encouraging exploration results at its WA projects, confirming potential carbonatite-hosted rare earth elements and new base metal anomalies, while securing $2.65 million in fresh capital to fund a maiden 10,000m drilling campaign and project acquisitions.