Latest Square News

Vintage Energy’s September quarter exposed a sharp liquidity squeeze, with unrestricted cash falling to $0.53 million and estimated funding covering just 0.7 quarters. The company is still advancing two gas wells and has accepted a new Queensland exploration tenement, but both initiatives depend on securing additional capital.

El Dorado Goldfields has begun testing a 180km² Guyana land package after securing an option to acquire a 90% interest in the Oko North and Oko South projects. Early rock-chip assays reached 2.32 g/t gold, but the greenfields projects remain undrilled and have no defined resources or reserves.

Private Land & Property Fund has agreed terms to release Booster Wine Group from its Hawke’s Bay vineyard leases, with consideration assessed to lift net asset value by 0.6%. The three vineyards and winery are now being marketed for sale, although the restructuring remains conditional and much of the consideration is deferred.

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.

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.

Noble Helium has completed the groundwork for its Kinambo drilling campaign in Tanzania, but the program remains paused after wireline contractor SLB was delayed on another project. The company ended September with A$3.905 million in cash, equivalent to an estimated 1.61 quarters of funding at current outgoings, while expanding into Western Australia through the completed Earth Source Hydrogen acquisition.

Pancontinental Energy has applied to extend its PEL 87 exploration rights in Namibia, backed by a proposed firm well and 4,200 square kilometres of seismic reprocessing. The company has also awarded DUG Technology the reprocessing contract, while its $1.866 million cash balance leaves future exploration funding as a key consideration.

Axel REE has produced its first mixed rare earth carbonate from Woolrich column-leach solutions, while expanding the Caladão resource to 708.6 million tonnes. The results strengthen the proposed ISR pathway, but the decisive test remains field-scale recovery and process consistency.

Botala Energy has achieved continuous gas flow from stimulated well 3.5B at its Serowe coal bed methane project in Botswana. The technical milestone comes with a significant funding constraint: cash stood at A$286,000 at quarter end, before a subsequent A$1.35 million placement and planned share purchase plan.

Talonx Resources has secured firm commitments for a discounted A$775,000 placement to expand exploration at its Kihabe copper project in Botswana and fund follow-up drilling at Viking’s Beaker 2 gold prospect. A proposed director tranche and Share Purchase Plan could provide additional funding, but both remain subject to further steps.

Coda Minerals has reported strong preliminary copper and silver extraction from Elizabeth Creek samples while testing whether cobalt can add an unmodelled revenue stream. The project’s processing route, water requirements and updated economics remain unresolved as the pre-feasibility study moves towards completion.