Latest Reserves News

Viridis Mining and Minerals Limited (ASX:VMM) has moved its Colossus rare earths project into execution after reporting a US$1.20 billion after-tax NPV and securing strategic equity commitments of up to US$120 million. The project still needs definitive debt, offtake and approvals before a Final Investment Decision can unlock full construction.

Prodigy Gold is drilling a deep, untested target at Hyperion while new ore-sorting results strengthen the case for a potential Old Pirate restart. The ASX-listed explorer is also relying on a fully underwritten A$7.92 million entitlement offer after ending the quarter with A$1.95 million in cash and only 1.9 quarters of reported funding.

L1 Global Long Short Fund has completed its entitlement offer, shortfall offers and institutional placement, raising the maximum A$565.4 million available. The capital will be invested under the L1 Global Long Short Strategy, with 321.2 million new shares due to begin trading next week.

Ioneer has pushed the timing of a final investment decision for its Rhyolite Ridge lithium-boron project to an unspecified date, as strategic partner discussions extend into the December quarter. The company ended September with US$54.55 million in cash and reported 12.8 quarters of funding on its current quarterly outgoings.

Alurion Resources has moved its Amargosa bauxite project into a field development program after completing its A$50 million IPO and ASX listing. Drilling, bulk sampling and logistics work are now feeding a direct-shipping-bauxite pre-feasibility study targeted for mid-2027.

Carnaby Resources shareholders have approved Evolution Mining’s proposed scrip acquisition, leaving Court approval as the key remaining hurdle. The September quarter also delivered a 10% increase in Greater Duchess resources, although Carnaby ended the period with $6.4 million in unrestricted cash.

Polymetals Resources fell short of its September production plan as ventilation work and a switch to contract mining disrupted Endeavor Mine operations. The company is betting on the Upper Main Lode and higher December-quarter throughput to restore momentum, but unrestricted cash fell to A$7.4 million after the rehabilitation bond exchange.

Alcidion will launch an on-market buy-back of up to 10% of its issued shares, giving the healthcare software company another way to deploy capital as cash generation improves. The maximum is a capacity, not a commitment, with purchases expected to be selective.

Sandfire Resources has extended high-grade polymetallic sulphide mineralisation at its La Juliana prospect in Spain, with drilling confirming 160 metres of strike and electromagnetic surveys indicating potential for at least 350 metres. The exploration result arrived alongside a steady first-quarter operating performance, with FY27 guidance retained.

Gulf Stream Energy has assigned maiden Contingent Resources to two oil sands at its Zydeco-1 well in Louisiana and prepared a workover plan to test Homeseeker B. The opportunity remains unproven: the well has not flowed, no reserves have been booked and the deeper Tweedel gas target is still undrilled.

Cedar Woods has reaffirmed its target for approximately 15% growth in FY27 net profit after tax, backed by more than $763 million in presales and 311 quarterly settlements. But gross sales fell 57% from a year earlier, putting greater emphasis on the company’s planned Q2 marketing push and new stage releases.

St Barbara is positioning itself as a debt-free Nova Scotia gold developer after agreeing to sell its remaining New Simberi interest to Lingbao for A$453 million in cash and capital repayments. The deal could fund a larger 15-Mile project while leaving shareholders with a possible special dividend and buy-back, but completion and distributions remain conditional.