ADX gears up for multi-well gas push in Upper Austria
The total net resource estimate for all targets ranges from 12.1Bcf as a low-ball guesstimate and to 49.4Bcf at the upper end.
The company expects to kick off a multi-well campaign across its fully owned Austrian exploration ADX-AT-I and ADX-AT-II licences as early as the fourth quarter of this year. Permitting, rig contracting, and land access negotiations have begun. Land for two wells is already secured.
ADX has identified seven drill-ready prospects and is actively maturing a further four. Of the seven, five sit within the proven Hall Formation, which is a prolific Miocene-age sandstone reservoir that has already delivered more than 230Bcf of cumulative production across 83 fields in the region.
ADX's shallow gas initiative was first announced to the market two years ago and has been developed using local know-how combined with the sharp eyes of world-class stratigraphic trap specialists. It sits close to existing pipeline infrastructure.
Armed with cutting-edge seismic technology, ADX deployed advanced 3D imaging techniques to pinpoint gas-charged sweet spots hiding in permeable reservoirs. The targets also bear striking similarities to the seismic signatures of proven gas fields already producing across the basin.
ADX sees the GOLD cluster targets as the crown jewels in its exploration portfolio. The company's 100 per cent-owned AT-II licence includes three shallow Hall Formation prospects – dubbed GOLD, GRAB and ZAUN – and holds a combined mean resource estimate of 13Bcf, with geological chances of success ranging from 55 per cent to a massive 81 per cent.
The GOLD-1 well will be the first cab off the rank and will target two high-confidence gas sands, GOLD A and C, which the company thinks have the highest chances of success at 77 per cent and 81 per cent, respectively.
The GOLD wells will be drilled to depths of just 700 metres to 850m using slim-hole designs and mobile carrier rigs, which should enable cost-effective drilling and an uber quick turnaround of as little as nine days per well.
ADX says it plans to link any discoveries into cluster developments, tying multiple wells into centralised production hubs to cut capital and running costs and boost output.
A dedicated processing facility has already been mapped out, drawing on an initial design capacity of 140,000 cubic metres per day, expandable to 280,000 cubic metres/day for the full cluster development.
Beyond the GOLD cluster, the company is targeting two additional prospects, PIC and STEY, also in the ADX-AT-II licence area, which have a mean prospective estimated gas resource of 8.1Bcf and paydirt probabilities of 75 per cent and 68 per cent, respectively.
The final two prospects, HOCH and SCHOE, sit in the ADX-AT-1 licence area 50 kilometres to the west of the GOLD cluster and are held in a 50:50 joint venture with industrial giant MND Austria. Although these targets are estimated to hold the biggest combined net mean resource of all the prospects at 14.4Bcf, their probability of coming in is lower at 62 per cent and 51 per cent, respectively.
ADX, meanwhile, has opened its data room to farm-in partners, promoting the prospects as a fast-track pathway to gas production in a first-world jurisdiction with existing infrastructure and an underexplored resource base. The company says several groups have already expressed interest, with deals potentially timed to line up with the company's forecast drilling dates.
As the company finalises its permits and hones its drill plans, ADX looks well-positioned to convert its shallow gas play into a significant revenue stream exactly when Europe needs it most.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
2 days ago
- News.com.au
Gold Digger: Gold's fundamentals remain strong as investors seek shelter from the economic storm
Even in a bear case, the World Gold Council suggests there is natural support at US$3000/oz If economic conditions deteriorate, gold could run 10-15% higher still in H2 Anno Domini, anything goes in 2025 for gold with Bombs Over Baghdad (well not Baghdad, but all around it, it seems) sending the precious metal on a rocket to all time highs. We've caught our breath after the first round of Trump Admin tariffs and war in the Middle East sent bullion to US$3500/oz in April. But the precious metal is still 26% up through the first six months of the year and, as noted by the World Gold Council in its mid-year review this week, it's outperformed every asset major class there is, at least from an American-Eurocentric perspective. All up, the WGC has counted some 26 new all time highs through the first half of 2025, following on from 40 in 2024. Gold's attractiveness in times of crisis has been a major factor, with trade wars and concerns over the US economy sending investors flocking from US Treasuries for safe haven. The US Dollar has had its worst start to a year since 1973. "Conversely, gold ETF demand was particularly strong in the first half of the year, led by notable inflows from all regions," the WGC said in its report. "By the end of H1 the combination of a surging gold price and investor flight to safety pushed global gold ETF's total AUM 41% higher to US$383bn. "Total holdings rose by an impressive 397t (equivalent to US$38bn) to 3,616t – the highest month-end level since August 2022." While central bank demand doesn't look as strong as it did in the past three years, it will remain above long term averages. "At the same time, central bank demand is likely to remain robust in 2025, moderating from its previous records while staying well above the pre-2022 average of 500-600t." So where to from here? The WGC doesn't predict prices. But it has analysed the likelihood of various economic scenarios playing out. In the bull case global economic conditions could deteriorate, with gold benefitting from "lower interest rates and dollar weakness given growing concerns around US economic leadership and policy uncertainty." That would likely prompt a resurgence in central bank buying to diversify holdings away from paper currency and the Greenback, while gold ETFs have some slack. While high prices have been a deterrent, it's worth noting at 3616t, physical ETF holdings are shy of the 2020 peak of 3925t. The current bull cycle has seen 500t of additions and 400t of accumulation in the past six months alone. Previous bull cycles have seen ETFs amass 700-1100t, the WGC notes. A bull case could add a further 10-15% to gold in H2 for a 40% gain, eclipsing the percentage gain across 2024. A bear case, which would likely follow some form of risk resolution in terms of geopolitical and trade conflict (as remote as our dreams of firing Elon Musk off to Mars with only a Grok chatbot to keep him company), could lead to a 12-17% reduction in the gold price. Never fear ASX gold investors. That still hits a comfy natural support level of US$3000/oz. If you're not making money at that price your mine is not worth its salt. "In all, given the intrinsic limitations of forecasting the global economy, we believe that gold – through its fundamentals – remains well positioned to support tactical and strategic investment decisions in the current macro landscape," the report authors concluded. Winners and losers Here's how ASX-listed precious metals stocks are performing: CODE COMPANY PRICE WEEK % MONTH % 6 MONTH % YEAR % YTD % MARKET CAP MRR Minrex Resources Ltd 0.008 0% 0% 0% -20% 14% $ 8,678,940.02 NPM Newpeak Metals 0.021 0% 62% 31% 31% 91% $ 9,018,008.47 MTC Metalstech Ltd 0.14 8% 0% -3% -42% 0% $ 28,177,419.51 GED Golden Deeps 0.023 10% 0% 0% -39% -8% $ 4,073,891.12 G88 Golden Mile Res Ltd 0.009 -18% -31% 13% -10% 0% $ 4,898,230.70 LAT Latitude 66 Limited 0.037 -3% 23% -5% -74% -3% $ 5,305,826.09 NMR Native Mineral Res 0.155 -6% -30% 244% 675% 297% $ 137,011,284.06 AQX Alice Queen Ltd 0.004 0% 0% -56% -43% -50% $ 5,538,784.76 SLZ Sultan Resources Ltd 0.006 0% 20% -25% -25% 0% $ 1,388,819.46 KSN Kingston Resources 0.135 -4% 4% 73% 73% 90% $ 112,501,868.36 AMI Aurelia Metals Ltd 0.2 0% -35% 5% -5% 18% $ 330,051,664.80 GIB Gibb River Diamonds 0.035 9% 0% -10% -13% -13% $ 7,507,830.58 KCN Kingsgate Consolid. 2.46 -2% 1% 82% 47% 91% $ 616,026,543.88 TMX Terrain Minerals 0.0025 -17% 0% -38% -17% -17% $ 6,329,535.68 BNR Bulletin Res Ltd 0.056 -5% -7% 44% 24% 44% $ 17,910,412.70 NXM Nexus Minerals Ltd 0.065 -7% -21% 38% 71% 44% $ 43,470,692.14 SKY SKY Metals Ltd 0.078 28% 81% 47% 123% 44% $ 49,114,418.45 LM8 Lunnonmetalslimited 0.22 2% -8% 6% 38% -12% $ 49,641,339.15 CST Castile Resources 0.057 0% 2% -19% -29% -29% $ 17,121,920.48 YRL Yandal Resources 0.15 -12% 43% 3% -3% -14% $ 52,569,946.94 FAU First Au Ltd 0.004 14% 0% 100% 100% 100% $ 6,228,873.83 ARL Ardea Resources Ltd 0.42 0% 6% 25% -14% 27% $ 90,477,553.45 GWR GWR Group Ltd 0.115 17% 26% 35% 44% 44% $ 33,978,698.78 IVR Investigator Res Ltd 0.028 17% -10% 12% -45% 40% $ 48,515,961.51 GTR Gti Energy Ltd 0.004 0% 0% 0% 0% 14% $ 12,981,291.82 IPT Impact Minerals 0.008 14% 33% -26% -44% -15% $ 27,953,309.78 BNZ Benzmining 0.58 4% 26% 45% 330% 68% $ 110,501,390.72 MOH Moho Resources 0.005 25% 25% 25% 0% 0% $ 3,727,070.14 BCM Brazilian Critical 0.015 50% 36% 67% 0% 67% $ 20,968,531.76 PUA Peak Minerals Ltd 0.058 0% 205% 444% 1344% 648% $ 165,717,313.53 MRZ Mont Royal Resources 0.041 0% 0% 8% -38% -5% $ 3,486,221.51 SMS Starmineralslimited 0.027 8% 42% -25% -4% -25% $ 4,830,972.98 MVL Marvel Gold Limited 0.013 0% 0% 63% 117% 44% $ 18,111,154.14 PRX Prodigy Gold NL 0.002 0% 0% 0% 12% 0% $ 6,350,111.10 AAU Antilles Gold Ltd 0.005 0% 0% 0% 25% 67% $ 11,895,340.08 CWX Carawine Resources 0.095 -2% 0% -5% 10% -5% $ 22,431,917.66 RND Rand Mining Ltd 1.9 2% -9% 25% 30% 25% $ 106,926,806.68 CAZ Cazaly Resources 0.02 -9% -5% 54% -5% 43% $ 8,764,756.83 BMR Ballymore Resources 0.175 13% -8% 52% 9% 46% $ 35,346,117.00 DRE Dreadnought Resources Ltd 0.011 5% -8% 0% -48% -8% $ 55,874,500.00 ZNC Zenith Minerals Ltd 0.036 6% 20% 3% -29% -10% $ 18,001,486.90 REZ Resourc & En Grp Ltd 0.019 -10% 19% -42% 15% -17% $ 14,201,979.17 LEX Lefroy Exploration 0.13 24% 24% 88% 63% 86% $ 31,052,517.25 ERM Emmerson Resources 0.135 4% -4% 73% 114% 75% $ 82,630,454.27 AM7 Arcadia Minerals 0.021 17% 31% -9% -45% 11% $ 2,465,052.09 ADT Adriatic Metals 5.91 3% 9% 46% 73% 52% $ 1,775,635,876.45 AS1 Asara Resources Ltd 0.056 17% 4% 167% 460% 195% $ 61,665,959.49 CYL Catalyst Metals 4.9 -6% -22% 42% 180% 90% $ 1,185,897,171.69 CHN Chalice Mining Ltd 1.84 9% 17% 49% 52% 67% $ 696,357,950.52 KAL Kalgoorliegoldmining 0.04 -9% -9% 167% 33% 122% $ 15,650,073.06 MLS Metals Australia 0.02 18% 18% -17% 0% -13% $ 12,388,231.91 ADN Andromeda Metals Ltd 0.011 -8% -8% 83% -50% 57% $ 41,968,474.49 MEI Meteoric Resources 0.155 24% 19% 67% 15% 82% $ 350,604,417.30 SRN Surefire Rescs NL 0.002 0% 0% -20% -60% -32% $ 6,457,218.50 WA8 Warriedarresourltd 0.105 -5% -9% 110% 36% 139% $ 129,393,960.19 HMX Hammer Metals Ltd 0.029 -9% -17% -12% -28% -12% $ 23,081,726.20 WCN White Cliff Min Ltd 0.025 9% 14% 25% 67% 56% $ 55,507,881.36 AVM Advance Metals Ltd 0.044 10% -8% 16% 52% 29% $ 11,131,463.03 ASR Asra Minerals Ltd 0.002 0% 0% -33% -67% -33% $ 8,000,396.02 ARI Arika Resources 0.044 22% 16% 57% 120% 63% $ 34,445,969.27 CTO Citigold Corp Ltd 0.004 0% 0% 0% -20% 0% $ 12,000,000.00 SMI Santana Minerals Ltd 0.585 8% 0% 27% 43% 21% $ 422,790,424.88 M2R Miramar 0.004 0% 33% 0% -50% 33% $ 3,987,293.14 MHC Manhattan Corp Ltd 0.02 -5% -9% -29% -20% 5% $ 4,932,876.86 GRL Godolphin Resources 0.012 20% 9% -8% -29% -17% $ 5,162,043.09 SVG Savannah Goldfields 0.02 11% 11% 14% -37% 9% $ 23,973,117.82 EMC Everest Metals Corp 0.135 0% -7% 0% 13% 0% $ 30,257,719.43 GUL Gullewa Limited 0.069 1% -7% 23% -5% 23% $ 15,043,529.87 CY5 Cygnus Metals Ltd 0.087 -1% -7% -33% 38% -13% $ 95,693,596.02 G50 G50Corp Ltd 0.26 16% 93% 86% 44% 68% $ 43,361,367.93 ADV Ardiden Ltd 0.16 -3% 10% 14% 19% 19% $ 10,002,800.96 AAR Astral Resources NL 0.155 3% -14% 11% 87% 15% $ 226,883,100.64 VMC Venus Metals Cor Ltd 0.11 5% -4% 57% 38% 64% $ 23,535,441.96 NAE New Age Exploration 0.0035 17% 0% -13% -13% 0% $ 8,117,734.22 VKA Viking Mines Ltd 0.006 0% 0% -33% -33% -25% $ 8,063,692.49 LCL LCL Resources Ltd 0.006 0% -14% -40% -33% -40% $ 7,195,542.91 MTH Mithril Silver Gold 0.515 17% 3% 23% 203% 29% $ 72,254,170.89 ADG Adelong Gold Limited 0.005 0% 0% -17% 0% 11% $ 13,492,060.04 RMX Red Mount Min Ltd 0.008 -16% -20% -11% -20% -11% $ 4,602,141.26 PRS Prospech Limited 0.024 4% 33% -11% -37% -17% $ 9,091,821.29 TTM Titan Minerals 0.325 7% -14% -16% -34% -14% $ 83,425,825.92 AKA Aureka Limited 0.095 -14% -27% -47% -99% -30% $ 12,478,977.82 AAM Aumegametals 0.033 10% 3% -15% -40% -21% $ 20,539,843.43 KZR Kalamazoo Resources 0.1 15% 12% 30% 25% 35% $ 21,281,171.15 BCN Beacon Minerals 1.205 18% 4% 21% 12% 37% $ 121,510,365.05 MAU Magnetic Resources 1.42 -1% -12% 15% 15% 29% $ 389,096,304.55 BC8 Black Cat Syndicate 0.82 6% -13% 12% 110% 45% $ 573,113,006.82 EM2 Eagle Mountain 0.006 20% 0% -40% -88% -33% $ 6,810,223.73 EMR Emerald Res NL 3.75 2% -21% 5% -7% 15% $ 2,411,446,350.18 BYH Bryah Resources Ltd 0.007 17% -42% 75% 40% 133% $ 6,789,674.65 HCH Hot Chili Ltd 0.655 10% 19% -11% -31% -6% $ 93,237,877.58 WAF West African Res Ltd 2.25 -3% -3% 38% 46% 57% $ 2,530,721,898.18 MEU Marmota Limited 0.039 -3% -3% -32% -13% 0% $ 45,953,925.81 NVA Nova Minerals Ltd 0.26 -12% -29% -20% 18% -30% $ 102,699,328.42 SVL Silver Mines Limited 0.145 21% 21% 77% -12% 86% $ 276,692,308.80 PGD Peregrine Gold 0.185 -5% 3% 37% -3% 32% $ 16,121,070.79 ICL Iceni Gold 0.064 3% -3% -18% -12% -10% $ 23,001,192.93 FG1 Flynngold 0.03 -6% -14% 7% 30% 20% $ 11,739,494.10 WWI West Wits Mining Ltd 0.02 3% -17% 25% 25% 43% $ 64,294,361.35 RML Resolution Minerals 0.065 41% 48% 491% 171% 442% $ 41,676,766.74 AAJ Aruma Resources Ltd 0.009 13% -18% 0% -31% -25% $ 2,623,524.20 HWK Hawk Resources. 0.019 0% 36% -17% -47% -14% $ 4,876,730.08 GMNDA Gold Mountain Ltd 0.11 10% 120% 10% -27% -27% $ 12,925,446.28 MEG Megado Minerals Ltd 0.043 41% 258% 207% 402% 153% $ 25,181,647.22 HMG Hamelingoldlimited 0.068 8% -18% 13% -35% 6% $ 13,484,642.83 BM8 Battery Age Minerals 0.062 15% 22% -35% -56% -41% $ 9,259,911.20 TBR Tribune Res Ltd 4.77 0% -3% 11% 24% 11% $ 250,272,727.29 FML Focus Minerals Ltd 0.375 6% -3% 79% 163% 121% $ 113,190,664.78 VRC Volt Resources Ltd 0.005 43% 11% 67% 11% 67% $ 16,396,972.94 ARV Artemis Resources 0.005 0% -9% -38% -50% -38% $ 12,678,360.83 HRN Horizon Gold Ltd 0.52 -2% -10% 8% 86% 8% $ 75,316,759.96 CLA Celsius Resource Ltd 0.007 0% 0% -36% -46% -36% $ 21,948,419.16 QML Qmines Limited 0.046 -4% 21% -25% -21% -15% $ 22,061,893.30 RDN Raiden Resources Ltd 0.004 0% -20% -50% -85% -64% $ 15,529,011.49 TCG Turaco Gold Limited 0.47 -3% -3% 59% 92% 84% $ 479,080,192.80 KCC Kincora Copper 0.054 4% 42% 80% -5% 100% $ 12,934,629.84 GBZ GBM Rsources Ltd 0.023 53% 254% 156% 188% 188% $ 31,148,944.42 DTM Dart Mining NL 0.003 0% 0% -73% -83% -67% $ 3,594,166.73 MKR Manuka Resources. 0.047 5% 30% 78% 34% 72% $ 36,676,977.44 AUC Ausgold Limited 0.575 -1% -19% 35% 37% 37% $ 205,532,678.20 ANX Anax Metals Ltd 0.007 0% 0% -36% -71% -42% $ 6,179,652.97 EMU EMU NL 0.024 -4% 20% -8% -11% -11% $ 5,069,963.23 SFM Santa Fe Minerals 0.33 83% 725% 931% 931% 965% $ 21,845,636.70 PNR Pantoro Gold Limited 3 -1% -17% 68% 92% 96% $ 1,178,438,799.00 CMM Capricorn Metals 9.4 -1% -9% 31% 72% 50% $ 4,047,845,622.69 VRL Verity Resources 0.026 13% 8% 67% -33% 33% $ 6,985,586.70 HAW Hawthorn Resources 0.054 -5% -2% 32% -23% 32% $ 18,090,843.10 BGD Bartongoldholdings 0.7 -9% -23% 164% 186% 186% $ 157,248,025.90 SVY Stavely Minerals Ltd 0.02 67% 67% 0% -29% 18% $ 10,336,799.77 AGC AGC Ltd 0.16 3% 3% 10% -53% 3% $ 39,772,569.41 RGL Riversgold 0.005 25% 11% 25% -29% 25% $ 8,418,562.97 TSO Tesoro Gold Ltd 0.031 11% 24% 35% -3% 55% $ 58,425,842.00 GUE Global Uranium 0.068 8% 0% -4% -22% 13% $ 30,923,317.76 CPM Coopermetalslimited 0.047 31% 24% -4% -31% 2% $ 3,917,782.50 MM8 Medallion Metals. 0.26 4% -4% 108% 306% 117% $ 122,074,965.60 FFM Firefly Metals Ltd 1.135 -1% 8% 16% 38% 23% $ 738,438,914.45 CBY Canterbury Resources 0.024 0% -14% 4% -47% 9% $ 4,978,581.50 SLA Solara Minerals 0.2 18% 3% 21% -40% 122% $ 11,596,964.60 SFR Sandfire Resources 10.95 -1% -7% 11% 25% 18% $ 4,999,292,555.40 TAM Tanami Gold NL 0.059 -2% 23% 103% 90% 97% $ 65,805,434.58 NWM Norwest Minerals 0.014 8% 0% 2% -52% 17% $ 14,525,378.43 ALK Alkane Resources Ltd 0.65 -3% -15% 21% 17% 27% $ 393,602,229.80 BMO Bastion Minerals 0.0015 0% -5% -52% -68% -52% $ 2,372,022.36 IDA Indiana Resources 0.088 1% 16% 38% 90% 44% $ 57,203,188.76 GSM Golden State Mining 0.009 29% 29% 13% -18% 13% $ 2,234,965.04 NSM Northstaw 0.037 0% 17% 87% 108% 134% $ 11,359,363.90 GSN Great Southern 0.027 4% 23% 50% 35% 80% $ 26,913,715.83 VAU Vault Minerals Ltd 0.395 0% -7% 7% -6% 20% $ 2,686,976,985.89 THR Thor Energy PLC 0.01 11% 0% -9% -44% -23% $ 7,107,898.35 CDR Codrus Minerals Ltd 0.032 7% -16% 129% -11% 88% $ 5,788,562.61 MDI Middle Island Res 0.018 -5% -14% 20% 0% 50% $ 5,864,679.42 WTM Waratah Minerals Ltd 0.3 11% -8% 107% -2% 94% $ 67,718,557.14 POL Polymetals Resources 0.755 3% -12% -17% 165% -5% $ 195,503,984.21 RDS Redstone Resources 0.004 14% 33% 33% -20% 60% $ 4,137,069.42 NAG Nagambie Resources 0.017 13% 6% 6% 70% -6% $ 12,852,837.50 BGL Bellevue Gold Ltd 0.92 -3% -8% -18% -52% -18% $ 1,350,838,387.91 GBR Greatbould Resources 0.062 2% -17% 38% 9% 44% $ 57,992,501.10 KAI Kairos Minerals Ltd 0.024 -14% -23% 71% 167% 100% $ 63,141,892.54 KAU Kaiser Reef 0.175 0% -5% 3% -3% 9% $ 106,838,307.00 HRZ Horizon 0.049 -2% -4% 2% 40% 23% $ 118,370,054.02 CDT Castle Minerals 0.08 18% 0% 33% -33% 33% $ 9,164,756.03 RSG Resolute Mining 0.655 0% -1% 62% -2% 66% $ 1,383,882,508.45 EVN Evolution Mining Ltd 7.56 0% -11% 35% 90% 57% $ 14,977,791,299.68 CXU Cauldron Energy Ltd 0.01 18% 0% -21% -64% -14% $ 17,911,610.07 DLI Delta Lithium 0.17 3% -11% -6% -28% 0% $ 107,481,268.80 ALY Alchemy Resource Ltd 0.005 0% 0% -29% -38% -29% $ 6,479,419.41 NH3 Nh3Cleanenergyltd 0.064 28% 113% 256% 392% 256% $ 42,003,865.07 OBM Ora Banda Mining Ltd 0.66 -9% -33% -10% 47% 2% $ 1,205,643,786.88 AVW Avira Resources Ltd 0.007 0% 0% -65% -65% -65% $ 1,610,000.00 LCY Legacy Iron Ore 0.009 -10% -10% 0% -33% -10% $ 87,858,383.26 PDI Predictive Disc Ltd 0.435 1% 4% 71% 112% 89% $ 1,153,679,641.84 MAT Matsa Resources 0.072 14% 3% 67% 167% 106% $ 53,952,449.98 ZAG Zuleika Gold Ltd 0.016 14% -16% 33% -11% 23% $ 11,870,078.83 GML Gateway Mining 0.026 -4% -16% 18% -4% 24% $ 11,038,147.97 SBM St Barbara Limited 0.29 4% -11% 18% 23% 29% $ 303,196,975.48 SBR Sabre Resources 0.009 -10% 0% 29% -36% -10% $ 3,550,157.40 STK Strickland Metals 0.15 0% 7% 81% 56% 76% $ 328,042,170.57 CEL Challenger Gold Ltd 0.081 8% -7% 69% 42% 72% $ 169,474,253.50 GG8 Gorilla Gold Mines 0.37 0% -17% 53% 251% 42% $ 232,641,390.96 NST Northern Star 16.52 -1% -21% -5% 14% 7% $ 23,342,484,107.66 OZM Ozaurum Resources 0.081 23% 21% 170% 25% 170% $ 18,786,353.59 TG1 Techgen Metals Ltd 0.021 -16% -13% -30% -25% -40% $ 3,490,645.62 XAM Xanadu Mines Ltd 0.08 1% 1% 70% 38% 63% $ 181,005,683.93 AQI Alicanto Min Ltd 0.029 12% -6% -22% 45% -22% $ 24,596,146.30 KTA Krakatoa Resources 0.012 20% 0% 33% -8% 26% $ 10,076,742.33 ARN Aldoro Resources 0.365 0% 14% 33% 345% -4% $ 68,767,180.88 WGX Westgold Resources. 2.77 0% -9% 3% 0% -2% $ 2,584,120,550.60 MBK Metal Bank Ltd 0.011 10% -8% -27% -49% -27% $ 5,969,507.98 A8G Australasian Metals 0.067 0% 0% -16% -4% -15% $ 3,878,611.58 TAR Taruga Minerals 0.008 0% -11% -27% -11% -20% $ 5,710,032.46 DTR Dateline Resources 0.125 40% 26% 4067% 1983% 3471% $ 394,873,142.00 GOR Gold Road Res Ltd 3.2 0% -5% 34% 74% 56% $ 3,476,476,992.00 S2R S2 Resources 0.068 0% -4% -11% -32% 1% $ 38,495,477.10 NES Nelson Resources. 0.003 0% 0% -14% 0% 0% $ 6,515,782.98 TLM Talisman Mining 0.145 -3% 4% -31% -50% -29% $ 25,423,247.12 BEZ Besragoldinc 0.05 0% -17% -40% -30% -44% $ 20,774,848.25 PRU Perseus Mining Ltd 3.6 1% -6% 31% 32% 40% $ 4,841,878,059.48 SPQ Superior Resources 0.0045 13% 13% -25% -59% -25% $ 11,854,913.63 PUR Pursuit Minerals 0.065 -12% 71% -25% -57% -32% $ 6,582,441.56 RMS Ramelius Resources 2.51 5% -9% 7% 24% 21% $ 2,851,462,643.76 PKO Peako Limited 0.0025 0% 25% 0% -19% -17% $ 3,719,354.90 ICG Inca Minerals Ltd 0.014 56% 100% 87% 180% 180% $ 26,157,778.24 A1G African Gold Ltd. 0.21 0% 27% 256% 740% 282% $ 108,009,984.26 NMG New Murchison Gold 0.018 13% 0% 80% 227% 100% $ 175,464,451.81 GNM Great Northern 0.017 21% 21% 13% 55% 21% $ 2,628,694.31 KRM Kingsrose Mining Ltd 0.036 13% 13% 3% -23% 3% $ 27,126,954.68 BTR Brightstar Resources 0.54 15% -5% 8% 27% 8% $ 259,917,609.60 RRL Regis Resources 4.47 0% -6% 51% 127% 75% $ 3,340,651,487.68 M24 Mamba Exploration 0.013 0% 8% -13% 0% 8% $ 3,837,152.93 TRM Truscott Mining Corp 0.049 0% -6% -38% -23% -37% $ 9,380,979.44 TNC True North Copper 0.385 4% 28% -16% -93% -87% $ 50,316,201.26 MOM Moab Minerals Ltd 0.001 -33% 0% -50% -83% -50% $ 1,874,666.03 KNB Koonenberrygold 0.053 20% 33% 212% 231% 342% $ 49,203,420.82 AWJ Auric Mining 0.175 0% -3% -46% -27% -49% $ 33,476,598.36 ENR Encounter Resources 0.29 -2% 26% -3% -58% -11% $ 142,155,810.92 SNG Siren Gold 0.053 10% 4% -5% -26% -18% $ 11,167,501.06 STN Saturn Metals 0.43 9% 15% 105% 139% 110% $ 188,460,691.02 USL Unico Silver Limited 0.445 41% 68% 123% 112% 128% $ 192,695,252.20 PNM Pacific Nickel Mines 0.024 0% 0% 0% 0% 0% $ 10,103,834.52 AYM Australia United Min 0.002 0% -33% 0% -33% -50% $ 3,685,154.97 HAV Havilah Resources 0.18 -3% 0% -16% -25% -20% $ 59,369,851.80 SPR Spartan Resources 2 5% -7% 40% 85% 42% $ 2,505,017,048.34 PNT Panthermetalsltd 0.01 0% -38% 11% -60% -9% $ 3,309,950.03 MEK Meeka Metals Limited 0.14 0% -20% 27% 226% 82% $ 393,620,197.95 GMD Genesis Minerals 3.93 -5% -16% 35% 82% 59% $ 4,465,664,825.15 PGO Pacgold 0.065 5% -10% -16% -50% -13% $ 9,725,091.26 FEG Far East Gold 0.175 0% 9% 3% -5% -3% $ 67,900,078.81 MI6 Minerals260Limited 0.115 0% -15% -12% -21% -12% $ 237,743,333.30 IGO IGO Limited 4.94 9% 18% -7% -15% 4% $ 3,657,603,536.79 GAL Galileo Mining Ltd 0.165 10% 50% 0% -11% 32% $ 31,619,988.32 RXL Rox Resources 0.3 0% 0% 40% 94% 50% $ 220,228,793.78 PTN Patronus Resources 0.067 6% -3% 12% 12% 37% $ 109,705,652.87 CLZ Classic Min Ltd 0.001 0% 0% 0% 0% 0% $ 3,017,699.21 TGM Theta Gold Mines Ltd 0.185 16% 37% 19% 32% 3% $ 172,306,249.98 FAL Falconmetalsltd 0.665 250% 343% 412% 122% 478% $ 89,385,000.00 SPD Southernpalladium 0.6 -6% 0% 2% 62% 0% $ 62,565,750.00 ORN Orion Minerals Ltd 0.01 0% -9% -29% -33% -33% $ 70,423,003.77 TMB Tambourahmetals 0.022 0% 0% -12% -55% 5% $ 3,474,996.92 TMS Tennant Minerals Ltd 0.007 0% 17% -36% -67% -22% $ 7,461,232.91 AZY Antipa Minerals Ltd 0.575 3% -29% 98% 379% 121% $ 359,198,895.99 PXX Polarx Limited 0.01 25% 43% 67% -17% 54% $ 19,004,007.82 TRE Toubani Res Ltd 0.33 14% 6% 136% 65% 94% $ 86,197,159.26 AUN Aurumin 0.099 10% 2% 62% 161% 50% $ 49,129,754.26 GPR Geopacific Resources 0.028 8% 22% 40% 25% 40% $ 85,926,563.80 FXG Felix Gold Limited 0.165 27% 18% 27% 267% 96% $ 74,610,077.87 ILT Iltani Resources Lim 0.195 5% -9% -5% -15% -5% $ 12,528,752.38 BRX Belararoxlimited 0.08 25% 38% -50% -71% -54% $ 9,881,937.60 TM1 Terra Metals Limited 0.061 30% 36% 91% -9% 118% $ 28,673,817.96 TOR Torque Met 0.205 37% 52% 302% 52% 287% $ 105,315,429.40 ARD Argent Minerals 0.022 5% -8% 10% 22% 29% $ 31,815,090.56 LM1 Leeuwin Metals Ltd 0.135 0% 0% 13% 101% -4% $ 14,112,893.76 SX2 Southgold Consol 6.13 2% -19% 61% 0% 0% $ 843,143,743.26 UVA Uvrelimited 0.125 4% 44% 39% 25% 40% $ 24,076,000.13 VTX Vertexmin 0.23 -2% -19% 0% 180% 11% $ 46,397,181.71 Falcon Metals (ASX:FAL) An unexplained 30% gain on Friday followed a high-grade gold discovery late last week from the Blue Moon prospect on the outskirts of the Bendigo gold zone. The Bendigo region has delivered 22Moz of gold since the gold rush, including 5.2Moz at 15g/t from the Garden Gully Anticline. Mark Bennett chaired Falcon thinks Blue Moon is sitting to the north of that trend on the Eastern Limb of the anticline, with visual gold and a deep hit of 1m at 543g/t from 544.2m getting small cap punters all hot and bothered. Santa Fe Minerals (ASX:SFM) This one has been quiet since early July, when it picked up the Eburnea project from West African gold hunter Turaco Gold (ASX:TCG), which hosts previous drill results like 26m at 4.82g/t and 30m at 1.92g/t. SFM is now up a quite remarkable 725% in a month. Could it follow a similar trajectory to the now 2.5Moz Turaco and its Afema project and Many Peaks Minerals (ASX:MPK), which has had similar success at Ferké, another project traded out of Turaco's Cote d'Ivoire portfolio, and announced a private $13.5m placement this week? Stavely Minerals (ASX:SVY) Previously focused on the copper resource at its Cayley Lode discovery, SVY has turned its attention to the gold potential of its Stavely project in Western Victoria. It plunged just one RC drill hole into the Fairview South prospect, but it was a good'un, striking 40m at 1.96g/t gold, from surface no less. Some high-grade results from rock chips 600m to the south have also provided encouragement, opening up a fair lick of strike to target future drilling activities. That was followed up by gold hits at the Fairview North prospect that suggested heap leachable material was located in shallow positions at the prospect, including a headline strike of 59m at 1.31g/t from surface. "It's great to see such a consistent set of gold results from the recent RC drilling at Fairview North, where the mineralisation is characterised by shallow, broad zones of moderate grade gold mineralisation with notable internal zones of higher-grade," SVY MD Chris Cairns said. 'The significance of the shallow broader zones of gold mineralisation is that metallurgical testwork completed in 2017 clearly demonstrates that this style of mineralisation is amenable to low-capital and low-operating cost heap leach extraction." SVY says it now understands the orientation to mineralisation at the Flexure A area, with more drilling to define that at the Flexure B and C areas.
News.com.au
3 days ago
- News.com.au
Resources Top 5: Gold and silver discovery adds to gallium potential for G50 at Golconda
Gold and silver stand to boost Golconda project High-grade copper concentrates with strong recoveries produced at Prospect's Mumbezhi project IXR lauds government support in Brazil Your standout small cap resources stocks for Thursday, July 17, 2025. G50 Corp (ASX:G50) A Eureka moment has provided G50 Corp (ASX:G50) with a potential major gold and silver boost to its Golconda project in Arizona adding to the gallium recently identified. High-grade results from a second RC drilling program has confirmed a new and significant gold-silver discovery and has seen shares jump 42.2% to a three-year high of 27c. Golconda was the site of the state's largest zinc-lead mine more than 100 years ago but is now back in the spotlight due to its potential gold, silver and gallium riches. A high-grade gallium halo identified by G50 at the flagship asset has brought the project into focus since China initiated export controls on the critical mineral back in 2023 and led to discussions over the strategic nature of the asset with the US Government. And now returns of up to 47.2m at 2.00 g/t Au, 40.2g/t Ag and 0.29% zinc from 191m to the end of hole in the first ever drill program to target the central portion of the Tub Zone below the depth of oxidation increase G50's optimism. The intersection also included 16.8m at 5.19g/t Au, 100.2g/t Ag and 0.57% Zn from 198m while other results were 77.7m at 0.76g/t Au and 11g/t Ag from 184m to EOH, and 97.5m at 0.27g/t Au, 4.8g/t Ag and 0.7% Zn from 149.4m at the base of historic mine workings to EOH. Twenty-six RC holes were completed and assays have been returned for 14 holes, four of which ended in mineralisation. Results confirm the Tub Zone is a laterally and vertically continuous, wide, well defined mineralised discovery that remains open along strike and at depth. Phase 2 RC drilling also tested the high-priority gallium halo with all holes returning consistent shallow intercepts including 216m at 18.4g/t Ga from 4.6m, 209m at 17.7g/t from 4.6m and 204m at 21.7g/t from surface. Every RC hole hit consistent widths and grade of gallium underpinning management's view that the halo could be a valuable source of the strategic minerals for domestic supply. 'Today's results confirm we have a new and significant gold-silver discovery at Golconda in Arizona,' G50 Corp's managing director Mark Wallace said. Prospect Resources (ASX:PSC) Positive results continue to emanate from Prospect Resources (ASX:PSC) at Mumbezhi in Zambia with metallurgical testwork showing that the copper project has a conventional processing profile that can be treated using low-cost methods. High-grade copper concentrates with strong recoveries have been produced from several tested mineralised zones, meeting industry standards. The company is also buoyed by gold indicators and a gold assessment will extend licence-wide as part of phase 2 exploration work with potential for a high-value byproduct at a time of near-record gold prices. Progress from Zambia has resulted in shares hitting a 12-month high of 20c, an increase of 8.11% on the previous close. Testwork on transition samples from Nyungu Central deposit and fresh samples from Kabikupa deposit provides indications that Mumbezhi can deliver strong economic returns. Fresh composite from Kabikupa achieved a copper concentrate of 27.5% Cu and 310ppm cobalt at 95.3% Cu recovery after one cleaning stage, while fresh composite from Nyungu Central delivered a copper concentrate of 24.6% Cu and 0.9% Co at 96.2% Cu recovery after single cleaning. Nyungu Central transition composite also returned strong results with a copper concentrate of 32.1% Cu and 9.1% Co at 81.4% Cu recovery after two cleaning stages. The standard flotation process worked effectively for Nyungu Central and Kabikupa, supporting the use of one simple centralised processing plant. 'These results show that Mumbezhi mineralisation has a conventional processing profile, with copper ores that can be treated using simple, low-cost processing methods as implemented at both Lumwana and Sentinel mines,' managing director and CEO Sam Hosack said. 'The potential for gold at Nyungu Central also adds value, and a broader gold assessment across the licence is underway. 'Recent Nyungu Central testwork, covering fresh and transition materials, has delivered much better results than those achieved by the previous operator, Argonaut,' he added. The test results come on the heels of additional exploration success at Nyungu Central including phase 2 drilling which returned 49m at 0.52% copper from 314m as well as 12.3m at 0.79% from 331m. Mumbezhi, which is in northwest Zambia in proximity to several major mines in similar geological settings, hosts an indicated and inferred resource of 107.2Mt at 0.5% Cu for 514,600t of copper. Ionic Rare Earths (ASX:IXR) Significant support from government at various levels is being received by Ionic Rare Earths to establish a Brazilian rare earths supply chain and this is welcomed by investors with shares hitting a 12-month high of 2.1c, a 16.67% improvement on the July 16 close. The latest show of support for Viridion Rare Earth Technologies, the 50/50 Brazilian JV of IonicRE and Viridis Mining and Minerals (ASX:VMM), comes in the grant of 2,071m2 of land by the Municipality of Poços de Caldas, Minas Gerais. This land in an industrial district will be used to construct the Centre for Rare Earth Refining, Recycling and Innovation. Viridion is seeking funding from Brazilian federal authorities to support the centre's establishment and technical team, with definition of the funding package expected in coming weeks. 'We are extremely appreciative to the Municipality of Poços de Caldas, the state of Minas Gerais, Brazilian federal authorities and all local stakeholders for their magnificent support as we build South America's first rare earth refining, recycling and innovation centre in Minas Gerais,' IonicRE MD Tim Harrison said. Initial phase 1 drilling is expected to begin in August at the Golden Gate target area of Resolution Minerals' Horse Heaven gold, antimony and tungsten asset in Idaho's historic Stibnite mining district. This follows approval being granted by the US Forest Service with the upcoming program to include up to 20 drill holes for around 20,000 feet. It is part of RML's Plan of Operations that comprises 57 holes from 19 drill sites along an existing road network in Valley County. Several past drilling programs targeted shallow oxide gold, returning 36.6m at 1.51g/t gold and 71.6m at 1.37g/t but overlooked antimony and tungsten. RML plans to confirm the presence of a gold resource, expand known mineralisation and potentially identify the presence of tungsten and antimony. Shares hit a new two-year high of 6.6c, a lift of 20% on the previous close. Green Critical Minerals (ASX:GCM) With first revenue in sight for its Very High Density (VHD) graphite tech for thermal management across a range of sectors, Green Critical Minerals increased 17.9% to 3.3c, a new high of almost five years, and volume of more than 98m. The VHD tech has applications from global electronics, semiconductor and microchip manufacturers, to data centre operators and thermal solution providers. It can be used in any industry where thermal management is vital, with sample testing being expanded to customers in aerospace, automotive, electronics, medical and industrial sectors through machining and distribution partners in North America and Europe. GCM is advancing commercialisation of the tech and its product distribution strategy, with new sales channels in development, including online retailers and machine shop networks, along with existing collaboration deals such as with Australia's leading data centre provider GreenSquareDC2. Discussions are ongoing with data centre operators in North America, Europe and Asia, focused on the evaluation and integration of VHD graphite into advanced computing infrastructure. At Stockhead, we tell it like it is. While Prospect Resources and Green Critical Minerals are Stockhead advertisers, they did not sponsor this article.
News.com.au
3 days ago
- News.com.au
Horizon Gold chases $11m raise as money flows to precious metals stocks
Morgans launches $4m placement for WA gold developer Horizon Gold after $75m junior enters trading halt Total to be raised set at $11m, with $7m to come from entitlement offer to existing holders including major shareholder Zeta Resources and HRN board Feasibility study on 2.1Moz Gum Creek gold project near Sandstone in 2026 Junior gold explorers are getting more confident about their potential to raise cash with prices for the precious metal sitting at US$3330/oz. Look no further than Horizon Gold (ASX:HRN), one of a handful of large resource holders in WA not to catch a ride on the magic carpet that is the 2025 ASX gold market. The $75 million explorer, a spinoff of failed nickel miner Panoramic Resources, owns the Gum Creek gold project near Sandstone, where the under the radar junior is planning a feasibility study next year. Despite its low profile, HRN is holding onto 44.5Mt at 1.5gt Au for 2.1Moz, 63% of that in the indicated category, most of it free milling gold with better than 90% recoveries. That's according to a pitch sent to investors on Thursday. After heading into a trading halt, HRN is seeking $11m via a $4m Morgans-led placement at 48c, a 7.7% discount to its last traded price, and a $7m entitlement offer priced at 1 for 9.93 to existing shareholders. It'll be well supported given the tight grip major shareholder Zeta Resources and its board have on the stock – around 79.7% of the company. They'll be taking their full entitlement, a term sheet seen by Stockhead said. Back to the future Like so many other projects in WA and across Australia more broadly, Gum Creek was once a producer, turning out 1.1Moz of gold up to 2005. Unsurprisingly, the company and its brokers think the market is a lot more attractive right now. In the two decades since its closure gold has travelled from $560/oz Aussie to over $5000/oz. One handbrake previously had been the refractory nature of many of the resources at Horizon, not the done thing to develop if you're a small, lightly capitalised gold company given the additional costs involved with processing methods designed for tougher ore like pressure oxidation, bug plants, roasters and ultra-fine grinding mills. The current MRE now contains 1.3Moz of gold resources interpreted to be free milling – 32.97mt at 1.22g/t. HRN is planning to locate a mill for the project centrally near the Gidgee Shear Zone deposit, which contains 886,000oz at 1.53g/t, with Howards (267,000oz) at 0.81g/t the other large ore source expected to underpin its base feed. Given the historic Gidgee Mill, it's already got a permitted site. A March 2024 scoping study suggested the project could produce 84,000ozpa at an all in sustaining cost of $1931/oz with a pre-production capital bill of $238.5m. That was conducted at a now very quaint looking $3300/oz Aussie gold price. Since the study there's been a dramatic shift in the power dynamics in the region as well, notably with the aggressive M&A strategy of Brightstar Resources (ASX:BTR), which views Sandstone as potentially its largest production hub beyond the development of its Menzies and Laverton gold projects after the junior gold producer merged with Alto Metals and acquired the Montague project of Gateway Mining (ASX:GML). BTR is now in discussions with Aurumin (ASX:AUN) over a deal for the last significant gold holding in the region outside Horizon's. Hot stuff. Having just completed over 13,000m of drilling, Horizon is planning to put its funds towards a first half 2026 feasibility study and a resource update due in the second half of 2025. Just under half of the new capital is to be put towards exploration and development activities. Its the latest significant capital raising in the gold and silver space, which has propped up the junior exploration sector in 2025 on the ASX. Along with Horizon, near-term Mid West gold developer New Murchison Gold (ASX:NMG) pocketed $15m last month, while $320m capped Paterson Province explorer Antipa Minerals (ASX:AZY) raised $40m earlier in July for its 2.5Moz Minyari Dome project. South American silver explorer Andean Silver (ASX:ASL) is also halted, tapping the market for fresh capital currently. HRN is up only 4% YTD, but over 80% in the past 12 months, but the pitch is that it's trading at a much lower value per resource ounce compared to developer peers.
