Latest Resource Estimate News

Carnavale Resources has started more than 7,000 metres of aircore drilling at Kookynie while lodging environmental and mine development applications for its proposed Swiftsure and Tiptoe pits. The company says its bankable feasibility study is essentially complete, with an updated financial model and ASX release expected in October.

Tetragon Energy has reported a $470,635 comprehensive loss in its first annual report, while highlighting a Philippine exploration portfolio carrying 3.214 Tcf of net mid-case prospective gas resources. The newly listed explorer ended the period with $715,713 in cash, before raising $4 million through its July ASX listing.

Ardea Resources enters FY2027 with its flagship Goongarrie Hub still short of a completed definitive feasibility study, even as Japanese partners and governments deepen their support. The company reported a A$24.6 million consolidated loss, while future funding arrangements beyond the current DFS program remain unresolved.

Magmatic Resources has used FY2026 to turn the newly acquired Weebo Gold Project into its main exploration engine, while Fortescue-funded drilling continued to test copper-gold targets at Myall. The company ended the year with $5.54 million in cash, but a larger annual loss and continued exploration spending keep execution and funding firmly in focus.

Arika Resources has consolidated full ownership of its two Western Australian gold projects after a year of expanding mineralisation and fresh high-grade targets. The exploration story is gathering momentum, but auditors have flagged material uncertainty around funding as the company moves into a more than 20,000-metre drilling campaign.

Grand Gulf Energy has reported a sharply wider FY2026 loss after impairing $15.03 million of Red Helium exploration assets. The auditor also flagged material uncertainty over the company’s ability to continue without further capital.

Strata Minerals has shifted from broad exploration to a Zelica-centred Western Australian gold strategy, pairing strong drilling results with a proposed capital-light mining pathway funded by BML Ventures. The opportunity is growing, but the company remains loss-making and warns that further funding may be required to continue as a going concern.

Barys Resources reported a wider A$2.30 million loss for FY2026 as it secured two gold exploration licences in Kazakhstan but made no progress at its Niger uranium project. With A$2.06 million in cash at year-end, the company is now pursuing a partially underwritten A$2.6 million entitlement offer to fund its next phase of exploration.

Raiden Resources posted a wider FY2026 loss after impairing A$8.86 million of exploration assets, while its cash and term deposits fell to A$11.98 million. The company is now concentrating on Brazil’s Crixás gold tailings project, Bulgarian exploration and a proposed divestment of most of Mt Sholl.

Power Minerals has repositioned around two Brazilian critical minerals projects, led by Morro do Ferro’s thick, high-grade rare earth intersections and a conceptual 10.7Mt Exploration Target. The shift comes with stronger funding and no borrowings, but the audited accounts warn that further financing remains essential.

Breakthrough Minerals has shifted its centre of gravity to a 952-square-kilometre Queensland copper-gold portfolio, backed by an 18.8Mt JORC resource and early drilling success. The annual report also highlights the constraint: a A$5.69 million loss, ongoing cash burn and material uncertainty over future funding.

Augustus Minerals has reported broad gold mineralisation at its Clifton East prospect in Western Australia, including a 1m interval grading 19.5g/t gold. The explorer’s FY2026 loss narrowed, but continued drilling remains dependent on further equity funding.