Latest Reserves News

Echelon Resources has tied in Palm Valley 14, but output has fallen to around 0.5 TJ a day after pre-completion testing indicated 3-4 TJ a day. The company is funding its expanded drilling programme from operating cash flow while PV-15 moves towards expected first production in early 2027.

Eastern Gas has completed its Venus-2H horizontal appraisal well with 445 metres of interpreted coal contact, but the result now faces a more immediate test: whether the company can fund flow testing with only A$654,000 in cash. Gas deliverability remains unproven, while a proposed A$10 million R&D-backed facility is yet to be finalised.

Australian Bond Exchange generated $1.68 million in positive operating cash flow in Q1 FY27, lifting cash to $1.49 million while repaying $436,000 of borrowings. The result strengthens its balance sheet, though the quarter’s cash inflows included $263,000 in government grants or tax incentives and $150,000 of interest received.

Redcastle Resources has reported a 6,600-ounce Mineral Resource on its ROM pad, while mining remains suspended because the planned third-party toll-treatment pathway has been deferred. The company ended September with $1.097 million in cash, equivalent to 1.54 quarters of funding at the reported expenditure rate.

Kingsgate’s cash balance climbed to A$108.9 million despite a difficult September quarter at Chatree, where a 47-day mill shutdown, heavy rainfall and geotechnical constraints cut gold production. The company is relying on a stronger second half of FY27, insurance proceeds and longer-term growth at Nueva Esperanza to offset the near-term disruption.

Metgasco’s September quarter delivered lower production and revenue, while unrestricted cash covered less than one quarter of operating needs. The company is pursuing recapitalisation as A$7.3 million of debt approaches a December maturity and 30.15 PJe of reserves shifts into contingent resources.

Jade Gas has progressed a proposed consortium-backed development for its Mongolian coal bed methane project, with 100% of Phase 1 capital expenditure potentially funded by a Chinese-led group. The opportunity is substantial, but the agreement remains non-binding and binding documents are now targeted for November.

American West Metals has completed the technical work for its Storm Copper Project pre-feasibility study and maiden Ore Reserve, while drilling at West Desert continues to widen a copper, zinc and molybdenum system in Utah. The milestones arrive with A$5.453 million in cash and an estimated 1.58 quarters of funding at the quarter-end spending rate.

Aspire Mining has moved the Ovoot Coking Coal Project from planning into site establishment, while its new bond programme has raised US$11.2 million. The funding progress comes alongside only US$2.1 million in quarter-end cash and an estimated 1.8 quarters of available funding.

Power Minerals has reported its strongest Morro do Ferro drilling results yet, alongside a conceptual 9.2 million to 10.7 million tonne Exploration Target in Brazil. But the ASX-listed explorer ended September with A$4.5 million and says it is seeking a strategic capital raising while in a trading halt.

BCAL Diagnostics has completed clinical validation for BREASTESTplus 2 across all breast densities and is targeting a November launch, while expanding Avantect Multicancer access. The commercial push comes alongside $1.895 million in quarterly operating cash outflows, only $580,000 in cash at quarter end and a growing strategic stake in Genetic Signatures.

Great Divide Mining increased Challenger concentrate production and plant feed rates during the September quarter, but ended with A$433,000 in cash and an estimated 0.9 quarters of funding. The company is relying on higher production, cost control or potential equity funding while advancing Coonambula towards a maiden resource estimate.