Latest Queensland News

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.

Beetaloo Energy has secured a 25% non-operated interest in a 305 square kilometre Taroom Trough block as part of a four-company joint venture selected as Queensland’s preferred tenderer. The position comes with no upfront consideration, while its initial two-year work program is intended to be funded from existing cash.

Locality Planning Energy has signed three utility infrastructure agreements that will add approximately 750 electricity and water service points across Victoria and Queensland. The expansion requires about $1.28 million of LPE-funded investment, but revenue will build only as homes, connections and retail tenancies come online.

Iltani Resources has secured firm commitments for a $4.6 million placement, anchored by a $1.5 million investment from QIC’s Queensland Critical Minerals Fund. The funding will support a 145-hole drilling program at the Orient Silver-Zinc-Indium Project before the wet season, with further work planned in 2027.

Alma Metals is pushing the Briggs Copper Project through a substantial drilling and metallurgical program, with a 2027 resource update planned to support a prefeasibility study. The project’s 932Mt resource contains about 2Mt of copper, but the company still faces the usual funding, technical and development hurdles of a large undeveloped mine.

Codrus Minerals has completed its acquisition of EdgeMet, adding copper and molybdenum exploration projects in Queensland and Peru alongside early-stage technology from Rice University. The transaction was funded with 230 million shares, 60 million performance rights and A$100,000 in upfront cash.

Yancoal has completed its US$1.85 billion purchase of an 80% interest in Queensland’s Kestrel metallurgical coal mine, materially expanding its operating portfolio. The deal also leaves up to US$550 million in contingent payments tied to future coal prices.

Elixir Energy has begun the second phase of flow testing at Lorelle-3H after a 60-day reservoir soak, moving the Queensland appraisal well closer to a potential maiden Reserves booking. Success could position the well as a foundation producer for the proposed Warkon Pilot.

Broken Hill Gold has recast itself from explorer to South Australian gold operator, producing its first doré while uncovering a deeper gold-copper sulphide system at White Dam. The transformation came with a $14.46 million FY2026 loss and continuing reliance on capital markets.

QX Resources reduced its annual loss and ended June with $1.64 million in cash, but its auditor has warned that the company must raise more money to keep operating. The Madaba uranium project has produced a sizeable conceptual exploration target, yet it remains some distance from a mineral resource.

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.

QMines has moved its Mt Chalmers copper-gold project into a Definitive Feasibility Study after securing a $15 million strategic package from QIC. The development push comes alongside a larger annual loss, $9.21 million in operating cash outflow and continued reliance on future funding.