Latest Reserves News

American Rare Earths has moved Halleck Creek closer to development, expanding the proposed Cowboy State Mine, completing 18 feasibility-stage drill holes and beginning pilot plant processing. But with A$11.0 million in cash and an estimated 1.44 quarters of funding at current outgoings, the next phase will likely require fresh capital or another funding source.

Carnavale Resources has completed a bankable feasibility study for its 80%-owned Kookynie Gold Project, outlining an 18-month open-pit operation targeting 35.6koz of gold and A$104 million in pre-tax free cash flow. The economics are strong on paper, but funding, approvals, processing arrangements and a final investment decision remain ahead.

European Lithium’s proposed merger with Critical Metals Corp. has cleared shareholder and court approval, with implementation scheduled for 5 November and EUR expected to leave the ASX. The quarterly report also puts a $296.5 million cash balance, Tanbreez drilling and Greenland mining approvals at the centre of the company’s final standalone update.

Felix Gold has reported a 12.19-metre gold interval grading 2.84 g/t from the first assays of its 2026 Treasure Creek step-out drilling. The result extends testing beyond NW Array, but 73 of the program’s 80 holes remain unassayed and true widths are not yet known.

Turaco Gold has secured firm commitments for a A$120 million placement to fund its proposed acquisition of Afema’s remaining 20% interest and push the Côte d’Ivoire project towards a definitive feasibility study. The transaction would simplify ownership, but still depends on shareholder approval and further development funding.

Locality Planning Energy has completed its PowerHub acquisition and expanded its active service-point base to 38,776, while drawing no funds from a newly available Westpac facility. The growth comes alongside a $1.6 million quarterly operating cash outflow and an on-market buy-back funded from cash flow and reserves.

Aeris Resources delivered 9.3kt of copper equivalent production in the September quarter, ahead of plan, while its Golden Plateau gold resource tripled to 200koz. The growth push is gathering pace, but cash and receivables fell to $178.7 million as Constellation investment accelerated.

G11 Resources has identified a broad alteration zone with elevated silver, arsenic and antimony at its Zig Zag target in Tasmania, while preparing three more drill holes. The company has also secured government co-funding to test a separate copper-gold target and reported encouraging early geochemistry at Packsaddle.

Antimony Resources says its Tecomatlán processing plant in Mexico has entered the concentrate production phase, with key circuits operational and a first bulk antimony concentrate now targeted. The result remains unverified: the company still needs to demonstrate stable recoveries, confirm product quality and complete a commercial sale.

Horizon Oil delivered record September-quarter production, sales, revenue and operating cash flow, with the first full-quarter contribution from its Cue acquisition adding scale across five countries. Cash reserves rose to US$50.4 million before the company paid its FY26 final dividend.

Ark Mines’ updated Sandy Mitchell study outlines a 26-year rare earths and heavy minerals operation with a post-tax NPV of A$883 million. The economics are substantial, but depend on refined garnet pricing, uncommitted funding, further approvals and metallurgical work.

IGO delivered record Greenbushes spodumene production and a 49% jump in underlying EBITDA in the September quarter, while Nova approaches its final days of operation. The result strengthens the lithium portfolio’s earnings contribution, but Kwinana remains a substantial drag and Greenbushes’ next growth plan is not yet valued.