Latest Reserves News

Berkeley Energia has completed follow-up drilling at its Conchas lithium-rubidium project while its US$1.25 billion arbitration claim against Spain moves towards a mid-2027 jurisdiction hearing. The company ended September with A$60 million in cash and no debt, but Salamanca’s permitting impasse remains unresolved.

Nexus Minerals has ended the September quarter with a 631,000oz Wallbrook gold resource, A$7.95 million in cash and a funded drilling program ahead. The company is now moving from resource growth towards processing, permitting and potential mine development, though no Ore Reserve has yet been defined.

Critical Resources has expanded its Suriname gold strategy to three projects covering about 228 km² under exclusivity, while advancing exploration in New Zealand and Canada and laboratory-stage battery technology. The company ended September with A$1.58 million in cash and an estimated 1.87 quarters of funding based on reported outgoings.

Ariana Resources has returned broad, high-grade gold intercepts at its 100%-owned Dokwe project in Zimbabwe as feasibility work accelerates. The company also ended the quarter with £17.3 million in cash after selling its remaining Kiziltepe interest in Türkiye.

Andean Silver has expanded drilling to six rigs at Cerro Bayo while preparing a resource update and Scoping Study for early 2027. The Chilean project also delivered a new 2km silver-gold exploration target, backed by A$70.5 million in cash after a A$40 million placement.

Altoro Metals has entered its next exploration phase with A$3.12 million in cash, fresh drilling underway and a planned 2027 resource update. But its annual report records a A$1.45 million loss, an unchanged mineral resource and a material uncertainty over its ability to fund the path from exploration to mine restart.

Brookside Energy completed its Suttles drilling and stimulation program and began early sales from the Sabres and Whalers wells, but quarterly production and realised prices declined. The company also added producing assets through a US$1.114 million acquisition while funding-heavy development pushed cash down sharply.

Fitzroy River Corporation has finished the September quarter with A$24.96 million in cash after monetising its Bowdens Silver royalty, while a New Zealand court case could determine whether it still holds a potentially more valuable Snowy River royalty. Weeks royalty receipts declined year on year, leaving the company reliant on asset sales and future project milestones for its next phase.

Argosy Minerals has completed key process engineering work and lifted the Rincon Lithium Project’s JORC resource to 790,000 tonnes of Li2CO3. The project is technically advancing, but funding, lithium prices and the final DFS remain significant hurdles.

Golden Cross Resources is assessing non-binding investor and partner proposals for its Copper Hill copper-gold project, but the ASX-suspended explorer ended September with just $15,000 in cash. Planned field programs and a possible quotation reinstatement remain conditional on approvals, activity and ASX discretion.

Bubalus Resources ended September with $2.76 million in cash, but its next major move is a conditional acquisition of Tasmania’s Skyline Copper-Gold Project backed by a proposed $3.0 million capital raising. Existing exploration remains constrained by heritage, land access and regulatory hurdles.

Caravel Minerals is moving its 100%-owned Caravel Copper Project towards a Definitive Feasibility Study due in the fourth quarter, but the annual report also flags a material uncertainty over its ability to continue as a going concern. The company remains pre-revenue, with approvals, project finance and key commercial arrangements still incomplete.