Latest Reserves News

Metro Mining increased third-quarter shipments by 17% from the previous quarter and secured 4.5 million wet metric tonnes a year of binding offtake for 2027 to 2029. The result came with lower guidance, elevated costs and operational disruptions still weighing on the business.

Omega Oil & Gas has reported its strongest appraisal quarter yet, with Canyon-3 and Canyon-4 confirming thick, stacked oil and gas-bearing intervals in Queensland’s Taroom Trough. The company has also expanded its operated acreage to 2,976 square kilometres while retaining $92.9 million in cash and no debt.

Brightstar Resources says construction of its 1.5Mtpa Laverton processing plant remains on schedule and within budget for first gold in June 2027, while Sandstone continues to expand through drilling and resource upgrades. The September quarter also set up a larger exploration push, backed by an A$82 million placement and Genesis Minerals’ new strategic stake.

Develop Global delivered record mining and processing volumes at Woodlawn while advancing its lithium and copper growth pipeline. The September quarter also generated A$29.6 million in operating cash flow, although cash fell to A$95.5 million after heavy investment and debt repayments.

Buru Energy has booked 15.25 million boe of 2P reserves for its Rafael gas and condensate project, while advancing environmental and production approvals. The company has $2.5 million in cash, no debt and only 1.24 quarters of estimated funding at its reported expenditure rate, making the next financing a critical step.

Boab Metals has emerged from FY26 with full ownership of Sorby Hills, construction underway and a larger reserve base, but the project’s crucial debt drawdown remains conditional. First concentrate is still targeted for the September quarter of 2027.

Lynas Rare Earths has reported its strongest September quarter in years, with sales revenue reaching A$310.1 million and NdPr production hitting a record 2,082 tonnes. The company is also advancing its Meteoric Resources acquisition and other supply-chain investments, although planned Malaysian maintenance will weigh on the December quarter.

Black Bear Minerals has completed its first Shafter check-assay program, with re-tested historic intervals generally returning higher silver grades and previously overlooked gold mineralisation. The company is targeting a maiden JORC Mineral Resource Estimate in the fourth quarter while preparing underground drilling and carrying A$7.819 million in cash.

Pancontinental Energy has expanded the prospective resource inventory at its offshore Namibia project while advancing seismic reprocessing and farm-out talks. Yet the annual report flags a material uncertainty over the company’s ability to continue funding exploration without new capital or a partner.

Red Hill Minerals collected A$6.0 million from its Onslow Iron royalty in the September quarter while maintaining A$58.7 million in cash after paying a fully franked dividend. Exploration also advanced across copper, gold and base metals, although several results remain early-stage and require further drilling.

Capricorn Metals has completed and commissioned the Karlawinda expansion, lifting the project to a targeted 6.5Mtpa throughput rate while maintaining FY27 production guidance. The company also reported A$113.1 million in quarterly operating cash flow, a larger resource base and federal approval for its next major growth project at Mt Gibson.

VRX Silica has completed the Arramall farm purchase and secured a 21-year lease for Arrowsmith North’s proposed processing plant, but final regulatory approvals and project financing remain outstanding. The company ended September with A$4.364 million in cash while estimating Arrowsmith North’s capital requirement at approximately A$74.5 million.