Public Company News

Xanadu Mines’ share price soared more than 50 per cent today after the company received an 8 cents per share takeover offer from unlisted Bastion Mining, valuing the Mongolian-focused copper-gold developer at $160 million. The offer follows hot on the heels of an expired exclusivity period earlier this month over a control transaction the company was negotiating with joint venture partner and major shareholder Zijin Mining.

Red Metal Ltd’s Sybella project in Queensland is shaping up as a low-cost heap leach play as leach tests show up to 81% magnetic rare earth oxide recoveries with low iron impurities using only weak acid levels. Bottle roll tests revealed a pH sweet spot between 2.0 and 2.5, where high recoveries of magnet rare earth oxides including the lucrative elements neodymium and praseodymium could be recovered using room-temperature sulphuric acid.

Dateline Resources has locked in the cash it needs to complete a bankable feasibility study on the gold deposit at its flagship Californian Colosseum gold and rare earths project to turn its 1.1-million-ounce resource into a revenue-generating mine. The company is also charging ahead with a rare earth drilling program at site and planning a US Venture listing in the third quarter of this year.

Altech Batteries has seamlessly revived a 28-year-old sodium-nickel-chloride battery that uses a primitive version of its own modern-day salt based “Cerenergy” battery technology. Altech says the old battery kicked into gear without hesitation after 28 years, showing that its own similar but more advanced battery technology is based on a solid foundation.

Larvotto Resources has discovered tungsten lurking in its already economic Hillgrove gold and antimony project in NSW, setting the scene for another payable by-product from the project that is already showing big numbers based on gold and antimony alone. Larvotto has delivered an initial mineral resource estimate for tungsten of 8.77 million tonnes at 0.05% tungsten trioxide at the project for 4774 contained tonnes.

Empire Energy has secured a hefty $28M war chest to propel its trailblazing Carpentaria gas pilot project in the N.T’s colossal Beetaloo Basin, as it manoeuvres to become Australia’s next big onshore gas player. The capital injection will turbocharge the hydraulic stimulation and flow testing of Empire’s Carpentaria-5H well, the longest horizontal well in the Beetaloo Sub-basin at a whopping 3310m.

Estrella Resources has notched yet another landmark achievement in Timor-Leste, formally East Timor, announcing the first conversion of permits into exploration licenses under the mineral-rich country’s new mining laws. The newly minted licenses will enable the company to deploy ground-disturbing exploration methods, including all-important maiden drilling campaigns, set to kick-off upon receipt of the nation’s first ever drill rig.

Strickland Metals is picking up the pace at its south Serbian Rogozna gold and base metals project which includes a further 20,000m of drilling at its Gradina target and a slew of new middle managers that are capable of guiding it into production. The company’s pre-development programs have expanded to include environmental baseline surveys, the opening of a local office, well-advanced metallurgical studies and ongoing drilling by six rigs across three targets.

Lindian Resources is juggling a slew of financing proposals from leading African and European commercial and investment banks, for its world-class Kangankunde rare earths project in Malawi. The company says it is riding a wave of financial momentum, with multiple funding proposals under due diligence to bankroll Kangankunde’s Stage 1 continued development.

Aguia Resources is set to unlock a second source of revenue with first phosphate sales from its Três Estradas project in Brazil targeted for Q1 FY26. Mining contracts are signed and modifications to its 100,000tpa leased plant are underway. The move complements Aguia’s current cashflow stream that is ramping up from its Santa Barbara gold project in Colombia.

Reach Resources has punched out another 5,800 ounces of shallow gold at its Murchison South project near Paynes Find. The new resource at the company’s Pansy Pit was confirmed by independent consultant Mining Plus and adds to the 61,300 ounces already banked at the Blue Heaven deposit at the project. The combined 67,000 ounces now make a compelling case for toll treating.

Aurum Resources has nailed a series of additional high grades gold hits at its Boundiali Project in Côte d'Ivoire, including 1m at 73.10 grams per tonne from Target 3 in its eastern BM licence, ahead of an expected upgrade to its mineral resource. The company is also working towards a pre-feasibility study at the site which it expects to complete before year’s end.