Latest Reserves News

Legacy Minerals has lifted its Mt Carrington resource by 39% to 47.9 million tonnes, giving it scope to test a larger processing operation. The opportunity arrives alongside a tighter funding picture, with $3.5 million in cash and estimated funding of 1.75 quarters at current outgoings.

Comet Ridge has completed its Santos buyout, giving it full ownership and operatorship of the 677 PJ Mahalo Gas Hub resource base. The prize is greater control over a staged gas project, but $11.4 million of cash and incomplete funding arrangements leave a narrow runway ahead of a targeted mid-2027 investment decision.

Kingston Resources has reported high-grade polymetallic drilling results across Mineral Hill while advancing a 25,000-metre FY27 campaign and planning resource and reserve updates. The company ended September with A$14.54 million in cash and no debt, but the mine remains on care and maintenance and its strategic review has no guaranteed outcome.

Epiminder has enrolled its 100th patient in the DETECT US epilepsy study ahead of schedule, while maintaining A$65.1 million in cash and no borrowings. The company says those reserves can fund clinical development and commercialisation work well into 2028.

Pinnacle Minerals is seeking shareholder approval for a securities-funded acquisition of five early-stage tungsten projects in Utah, alongside a proposed A$1.3 million placement. The transaction would bring new management, substantial exploration commitments and a sharply larger pool of performance securities.

Synertec Corporation (ASX: SOP) has entered FY27 with $74.3 million of contracted work-in-hand, up 395% on the prior year, while maintaining revenue guidance of $37.5 million to $40.0 million. Revenue rose 18% in the first quarter and monthly EBITDA reached breakeven in September, although cash remained under pressure as project delivery accelerated.

Aurum Resources has lifted Boundiali’s mineral resource to 3.84Moz and group resources to 5.0Moz, while a A$52.5 million placement gives the Côte d’Ivoire developer funding for drilling and early infrastructure. The next test is whether resource growth can translate into a definitive feasibility study late this year.

Mithril has extended the high-grade Copalquin-Zaragoza silver-gold structure to 700 metres, while sampling at the nearby San Manuel workings returned grades of up to 16.55 g/t gold and 616 g/t silver. The results add exploration scale, but Target 4 remains an exploration story rather than a defined resource.

Ore Resources closed September with a 153,200-ounce Coolgardie gold resource, expanding exploration ground and a preliminary lithium development case at Kangaroo Hills. The opportunity is growing, but A$3.81 million of cash represented only 1.4 quarters of funding at the latest spending rate.

Volt Resources has secured US$5.4 million in fully funded support for its Alabama graphite strategy, but ended the September quarter with only A$170,000 in cash. The company is also managing lower-than-planned Ukrainian production, cancelled Tanzanian mining licences and a partly conditional A$1.5 million capital raising.

Oceana Metals has more than doubled the known rare earth mineralisation footprint at its Serra Negra project in Brazil to over 4.5 square kilometres, while drilling has accelerated to four rigs. The company has also completed the acquisition of the project, but key assays, mining-right amendments and a maiden resource remain ahead.

Centaurus Metals has advanced engineering, infrastructure and financing work at its Jaguar nickel project, while post-quarter offtake and strategic funding deals strengthen the path towards a Final Investment Decision. Its Boi Novo copper-gold project has also produced more than 20 drill-ready targets, but the company remains dependent on completing its debt and broader funding package.