Latest Resources News

Hammer Metals has dispatched an amended scheme booklet after correcting several computational errors in performance-rights valuations and director-interest disclosures. The proposed Austral takeover remains unchanged, with shareholder votes scheduled for 9 November and the independent expert’s favourable conclusion intact.

Daly Resources has emerged from its June ASX debut with $11.05 million in cash, a 6,500 km² Northern Territory exploration portfolio and a growing list of drill targets. The catch is familiar for early-stage explorers: the company has yet to define a mineral resource or reserve, while its strongest Huckitta results remain surface sampling rather than drilling.

Echelon Resources has completed the Palm Valley 14 appraisal well as a gas producer after a flow test recorded approximately 3 million standard cubic feet per day with no water or oil. First gas is expected before the end of October, with the well forecast to deliver 3-4 terajoules a day once tied in.

Central Petroleum will put PV14 into production despite an initial 3.2 TJ/d flow test that fell below its target and recent Palm Valley wells. Water seen during vacuum flow leaves the well’s sustainable output uncertain as attention shifts to PV15.

High-Tech Metals will ask shareholders to approve a new identity, Beyond Discovery Limited, alongside a proposed ASX code change from HTM to BYD. The move signals a shift toward developing its Mt Fisher and Mt Eureka gold projects, but changes no assets, operations or capital structure.

Iris Cairns Property has opened an unconditional $4.67-per-unit takeover offer for the remaining units in Reef Casino Trust, after building an 85.77% stake through its initial bid. The offer values the remaining units at up to approximately A$33.1 million and could lead to compulsory acquisition and ASX delisting.

Aguia Resources has sold 825 tonnes of Pampafos since 15 September while a 30,000-tonne ore stockpile awaits processing. The progress comes as the company faces an unresolved court challenge to its Tres Estradas phosphate project and begins permitting work at Passo Feio.

Ballard Mining is seeking up to A$50 million to fund aggressive drilling, early infrastructure and feasibility work at its Mt Ida Gold Project. The raise gives the developer a larger runway towards a mid-2027 development decision, but comes with dilution and no guarantee the full amount will be secured.

Alvo Minerals has secured A$1 million from strategic and existing investors while reporting broad, near-surface dysprosium and terbium mineralisation at its Bluebush project in Brazil. The results strengthen the exploration story, but metallurgy, permeability and a maiden resource remain ahead.

Torque Metals has secured A$25 million from institutional investors to expand drilling and regional exploration at its Ritz Gold Project in Western Australia. The placement will lift pro forma cash to about A$32.7 million, but adds roughly 21% to the existing share count and leaves the company’s million-ounce ambition dependent on exploration results.

Lotus Resources has executed key documentation for a Mercuria facility providing up to US$30 million in inventory-backed prepayment funding, while only one major approval remains before Kayelekera’s first uranium shipment. Operations are improving, but production remains tied to acid availability and power reliability.

Volt Resources securities will resume trading after the company outlined a funding plan worth approximately A$6.912 million and confirmed its ongoing ASX compliance. The restart comes with two Tanzanian mining licences cancelled, limited reported cash and a proposed A$1.5 million capital raising yet to be structured.