Latest Reserves News

Eneco Refresh has delivered its strongest profit in five years despite raw material inflation and logistics disruption, with operating cash flow and cash reserves also improving. The company now has scope to invest in automation and consider selective acquisitions, but offers no FY2027 earnings guidance or dividend.

Cadence Opportunities Fund Limited (ASX:CDO) delivered a record $5.66 million after-tax profit and a 30.3% fund return in FY2026. The listed investment company is entering the new year with elevated cash, reduced gold exposure and a discounted share purchase plan underway.

Zinc of Ireland has transformed from a small Irish zinc explorer into a metals technology developer, acquiring Meclex, raising A$5.5 million and advancing ARGO and VOLTA. The opportunity is substantial, but both technologies remain uncommercialised and the VOLTA partnership requires formal renewal.

WAM Global’s portfolio earnings grew 18% in FY2026, but valuation compression and currency losses left the investment portfolio down about 4.2% in Australian-dollar terms. The listed investment company declared a 13.2 cents per share fully franked full-year dividend, backed by a stated 5.2 years of dividend coverage.

Investigator Silver has used FY26 to move the Paris Silver Project from feasibility study toward development, backed by A$58.8 million in cash and a maiden ore reserve. The company still faces the harder tests of permitting, financing and construction before its projected silver production can become reality.

Tolu Minerals has increased the Tolukuma gold resource by 81% to 909,000 ounces after four months of full-scale drilling, pushing its reported Papua New Guinea gold inventory above one million ounces. The proposed early 2027 restart now has a larger resource base, but remains dependent on infrastructure, technical work and conversion of resources into mineable reserves.

Bass Oil has put a 1,280-barrel-per-day Bunian 6 test and planned Vanessa gas sales at the centre of its next growth phase. The company is also promoting Kiwi as a larger, longer-dated development opportunity, although much of the upside remains subject to testing, funding and execution.

Horizon Oil has used its Pareto Securities presentation to put record FY26 production, enlarged reserves and a multi-country drilling pipeline at the centre of its growth case. The stronger platform comes with a test: convert a long list of projects into sustained cash flow while preserving shareholder returns.

Meeka Metals has lifted its group Mineral Resource to approximately 1.5 million ounces after adding a maiden 270koz estimate for Mt Holland in Western Australia. The expansion comes with a sharper distinction between exploration potential and mine-ready inventory, as Ore Reserves fell to 355koz after depletion and portfolio changes.

Global Lithium’s Manna-Nova integration study nearly doubles the project’s post-tax NPV to A$945.7 million while cutting funded pre-production capital by 59%. The plan targets first direct shipping ore in May 2027 and spodumene concentrate production by mid-2027, but still depends on funding, approvals and a final investment decision.

Talga has signed a non-binding LOI with German battery maker EAS Batteries for a potential five-year supply agreement covering Talnode graphite anode products. No volumes or purchase obligations have been agreed, with product qualification and negotiations now scheduled to run into 2027.

Deep Yellow reported a A$13.3 million FY2026 profit and moved its Tumas uranium project closer to a targeted fourth-quarter investment decision. The company remains debt free, but acknowledges it will need external capital to fund construction.