Latest Reserves News

Global Lithium’s annual report captures a pivotal shift from lithium developer to takeover target, after the Manna-Nova integration study lifted estimated post-tax NPV8 to about A$946 million and cut funded pre-production capital by 59%. The proposed A$333 million Titan transaction offers shareholders cash value while leaving Manna’s development timetable subject to approvals, funding and execution.

Elixir Energy has reported encouraging early flow results from its Lorelle-3H appraisal well while securing a $205 million strategic farmout with Beach Energy. The deal offers a four-year funding pathway, but the well’s post-soak performance and transaction completion remain important next tests.

WIN Metals has strengthened the funding position for its proposed Radio gold restart, while retaining a project that still requires approvals, further financing and a final investment decision. The preliminary study forecasts A$18.1 million of pre-tax NPV8 and 20.2koz of recovered gold, but the company ended September with only A$1.16 million in cash before the post-quarter Astral receipt.

European Lithium’s share and option schemes with Critical Metals Corp. are now effective after the Supreme Court of Western Australia’s orders were lodged with ASIC. EUR securities are expected to stop trading on the ASX, with implementation scheduled for 5 November and CRML shares due to begin trading on Nasdaq the following day.

Empire Resources has reported a busy September quarter at Yuinmery, with notable copper, gold and palladium-platinum intersections alongside rare earth oxide results reaching 1,712.5ppm TREO+Y. The exploration push comes as the company prepares more drilling and an updated resource estimate while holding $2.571 million in cash.

Austral Gold lifted third-quarter production by 50% and moved into a US$2.5 million net cash position, but operational problems at Guanaco have forced a substantial reduction in full-year output guidance. Casposo is ramping up, although its cost outlook has also worsened.

Kantra Copper has lifted Kanmantoo’s Ore Reserve by 31% to 5.2 million tonnes, adding a maiden reserve for Emily Star and extending the underground mine plan to December 2029. The expansion supports a positive pre-tax NPV, but the scheduled production rate remains below the company’s stated 2 million tonne annual goal.

Boab Metals has strengthened the case for its Sorby Hills silver-lead project, extending the mine life to 10.5 years while reporting construction progress and higher Norton recoveries. The project remains targeted for first concentrate in Q3 2027, but the quarter also consumed A$30.9 million in cash and left the A$236 million debt facility undrawn.

FireFly Metals has struck a new copper-gold VMS system at Mount Joy, delivering a 22.5-metre intersection grading 2.5% copper equivalent near its Green Bay infrastructure in Newfoundland. A second hole encountered about 40 metres of semi-massive sulphides, although laboratory assays are still pending.

Turaco Gold has reported extensions to high-grade mineralisation across its Afema project in Côte d’Ivoire, with a resource update due in the December quarter. The company finished September with $47.4 million in cash as it moves towards a Definitive Feasibility Study targeted for the June 2027 quarter.

Alara Resources delivered its strongest quarterly copper sales since commercial operations began, while production remained above nameplate capacity at its Oman mine. Yet the company says the parent may need to raise about A$6 million in FY27 to cover a projected cash shortfall.

Botanix’s Sofdra prescriptions rose 5.3% in the September quarter, but flat net revenue and a sharp cash decline have forced a major reset. The company is targeting a roughly 50% reduction in operating expenses while assessing licensing, acquisitions and broader strategic transactions.