Latest Exploration Sector News

Novo Resources has significantly expanded its Australian exploration footprint through three new high-potential farm-in and joint venture agreements, while maintaining a robust financial position with A$12.1 million in cash and A$43.8 million in investments.

Flynn Gold Limited has unveiled a maiden exploration target of approximately 0.5 million ounces of gold at its Golden Ridge Project in Tasmania, alongside ongoing drilling programs aimed at expanding its high-grade gold and silver resource base.

Savannah Goldfields Limited reported a net cash outflow in its December 2024 quarter, highlighting ongoing operational cash burn and a heavy reliance on loan facilities to sustain activities. The company’s liquidity position raises questions about its near-term funding strategy.

Dart Mining has completed the acquisition of the Triumph Gold Project and initiated drilling activities that have already produced encouraging rock chip assay results, signaling potential resource expansion.

Breakthrough Mineral Limited reports a mixed quarterly cash flow with significant exploration expenditure offset by strong financing inflows and plans for reduced corporate costs.

Variscan Mines has announced a transformative update to its Novales-Udías Project, tripling its zinc-lead Mineral Resource Estimate and raising over $2 million to advance development. Drilling is underway with a Mine Re-Start Study on track for mid-2025.

Norfolk Metals reports progress in its Orroroo Uranium and Roger River projects, unveiling new exploration targets and maintaining a solid financial footing with $2.66 million in cash.

Northern Minerals Limited reported a $7.56 million net cash outflow from operating activities in the December 2024 quarter, offset by $28.5 million raised through borrowings, leaving a healthy cash balance of $35.76 million.

Astron Corporation Limited reported a $1.05 million net cash outflow from operations in Q4 2024 but strengthened its liquidity position with a $14.5 million inflow from financing activities, ending the quarter with $13.48 million in cash.

Impact Minerals Limited reported its December 2024 quarterly cash flow, revealing ongoing exploration expenditures and a significant $2.87 million grant to commercialise its High Purity Alumina process at Lake Hope.

Miramar Resources Limited (ASX: M2R) has been suspended from ASX quotation following a trading halt due to an undisclosed market-sensitive announcement. The suspension aims to prevent disorderly trading until clarity is provided.

Resource Mining Corporation reports promising copper-gold exploration results at its Mpanda project in Tanzania, secures $1 million in loan funding, and gains an option to acquire a 70% stake in a Saudi Arabia joint venture.