Latest Reserves News

Solis Minerals has completed 2,926 metres of drilling across three projects in Brazil and Peru, with assay results still pending. The explorer is moving into a 5,000-metre Cucho copper programme while holding A$3.97 million in cash, equivalent to about 2.12 quarters of funding at the latest reported operating outflow.

Astral Resources has moved its Mandilla development closer to a definitive feasibility study while extending drilling at Theia and adding 281,000 ounces to its Spargoville resource base. The company ended September with A$59 million in cash after spending A$7.6 million during the quarter.

Tesoro Gold has secured A$40 million from institutional and sophisticated investors to fund development, permitting and exploration at its El Zorro project in Chile. The company will also seek to acquire the remaining minority interest in its Chilean subsidiary, lifting effective project ownership to 95.4%.

QMines has delivered its strongest pontoon copper intersection so far beneath the flooded Mt Chalmers pit, with mineralisation beginning immediately below the historical floor. The results may add weight to a resource update and feasibility study, while stockpile potential remains unquantified.

Meteoric Resources says approval for its Caldeira rare earths project in Brazil is now expected in early 2027 after regulators requested further information. The delay has not, according to the company, changed the proposed Lynas acquisition timetable, with an initial A$35 million tranche of interim funding received.

Black Rock Mining has extended the financial close deadline for its US$204 million Mahenge debt facilities to 30 November, but the Tanzanian graphite project remains dependent on new equity. The company held A$2.1 million in cash at quarter end, equivalent to 0.75 quarters of estimated funding.

FireFly Metals has outlined a 4.6Mtpa Green Bay development case with an after-tax NPV of A$3.0 billion, while lifting resource confidence and ending the quarter with A$337.1 million in cash. The next test is whether the preliminary study can survive feasibility work, permitting and project financing.

Strike Energy has selected Hancock Energy’s Belisama facility as the preferred processing route for West Erregulla and agreed terms for up to A$30 million in pre-FID funding. Walyering production and reserves also improved, but Strike ended the quarter with A$40.16 million in cash, no undrawn debt and A$188.01 million drawn.

Connected Minerals has moved its Bailundo niobium and rare earths project from acquisition into active drilling, backed by A$4.5 million in fresh capital and A$5.15 million in quarter-end cash. Historical results are striking, but the company has yet to report an assay from its current programme or establish a mineral resource.

PMET Resources has secured C$1.215 million in federal funding to upgrade 20 kilometres of access road serving its Shaakichiuwaanaan lithium project in Quebec. The contribution improves the project’s infrastructure story, but does not amount to a mine approval, construction decision or production timetable.

EVZ has started FY27 with an $80 million contract backlog, $17.7 million in cash and no drawn loan debt, while Brockman Engineering positions itself for Australia’s proposed fuel-storage expansion. The quarter also brought progress across defence, desalination, power services and potential acquisitions, although several growth opportunities remain prospective.

NAOS Small Cap Opportunities has declared a 1.00 cents per share quarterly dividend, 50% franked, while its investment manager commits to reinvest 100% of estimated annual management fees in NSC shares. The payout implies a 16.38% annualised yield at the latest closing price, although future distributions remain dependent on performance and reserves.