News

18 November 2025 | Melbourne, VIC – Australia’s sovereign wealth fund, the Future Fund, has increased its allocation to gold and expanded its use of active equity managers, positioning the A$250bn portfolio for a more volatile backdrop marked by higher-for-longer inflation, geopolitical shocks and shifting supply chains.

Key points
• Higher gold exposure: Gold is being used as a portfolio hedge against macro shocks and policy uncertainty.
• More active management: The fund is adding specialist stock-picking mandates to exploit dispersion across regions, sectors and styles, complementing its existing passive exposures.
• Selective on bonds: Preference remains for shorter-duration and flexible fixed income over traditional long-dated, fixed-rate bonds given inflation and rate risks.
• Diversification by region and factor: The portfolio mix continues to broaden beyond the US, with a focus on developed markets where liquidity and governance support active strategies.

Why it matters
The moves reflect a view that the investment environment is becoming less forgiving for static, index-heavy portfolios. Increased gold and active risk aim to cushion drawdowns while capturing idiosyncratic alpha as correlations break down and winners/losers diverge more sharply.

Comments from management
Management commentary: Future Fund CEO Raphael Arndt has cautioned that the risk of economic shocks is rising, and that the portfolio is being positioned with more resilience (via gold and diversification) and more agility (via active managers) to deal with persistent inflation and policy uncertainty.

What to watch next
• Further detail on manager appointments and regional tilts as the active program scales.
• Any updates to real assets and private markets weightings as the fund balances inflation protection with liquidity.
• Ongoing stance on duration and credit risk within fixed income as inflation data and central-bank guidance evolve.

17 November 2025 | Hillgrove, NSW – Larvotto Resources (ASX: LRV) has reported strong first-pass diamond results from the Freehold prospect, just 1.2km east of the Hillgrove processing plant, confirming broad and high-grade antimony–gold (Sb–Au) across multiple lodes and highlighting tungsten (WO₃) as a potential by-product stream.

Drill highlights (maiden diamond program, best intervals):
• FRE016: 14m @ 4.25g/t AuEq from 89m, including 2.6m @ 19.09g/t AuEq from 99.4m
• FRE017: 3.5m @ 12.46g/t AuEq from 136m
• FRE019: 7.0m @ 5.03g/t AuEq from 122m, including 3.2m @ 8.38g/t AuEq from 124.6m
• Tungsten associated with Sb–Au lodes: SLV004: 0.6m @ 2.23% WO₃ from 76.7m; SLV006: 0.5m @ 3.43% WO₃ from 154.8m

Why it matters
Freehold’s results validate Larvotto’s near-mine targeting of historically mined stibnite–gold lodes and demonstrate continuity along strike and at depth. With tungsten occurring within the same structures—and a tungsten extraction circuit already in place at Hillgrove—the project gains a clear multi-commodity angle at a time when antimony, gold and tungsten prices remain elevated in 2025. Drilling continues at Freehold, with parallel activity across Metz and Swamp Creek.

Project context
Hillgrove is a long-lived Sb–Au district where Freehold was mined from the late 1800s and, more recently, by NEAM (1974–2002) via adits, small open cuts and a 330m-deep shaft (eight levels). Larvotto’s program is testing depth/strike extensions, near-surface up-dip positions, and parallel splays, while also validating recent IP/resistivity targets. Early sections indicate open potential up-dip and along strike.

Managing Director Ron Heeks said: “Larvotto’s first drilling program at the Freehold prospect has confirmed the significant upside potential of this historic mine area. The results demonstrate consistent gold and antimony grades within and beyond the known lodes, and the presence of high-grade tungsten associated with the same structures reinforces the multi-commodity potential of the Hillgrove system. With prices for antimony, gold and tungsten hitting record highs in 2025, we see an opportunity to create a new underground mining centre at Freehold, adjacent to the current processing plant. Drilling in the area continues.”

What’s next
• Ongoing diamond drilling at Freehold, plus step-outs at Metz (Blacklode & Syndicate convergence) and Swamp Creek (new resistivity anomaly)
• Integration of Eleanora–Garibaldi assays into an updated Mineral Resource model
• Additional IP/resistivity surveys over regional targets and historical workings

5 November 2025 | Western Victoria – Stavely Minerals (ASX: SVY) has confirmed a second, parallel zone of gold anomalism at the Fairview South prospect within its 100%-owned Stavely Copper-Gold Project, paving the way for a Phase 3 reverse circulation (RC) drilling program to commence this week.

Final assays from the Phase 1 soil auger program show strong gold and pathfinder support immediately south of discovery hole SFSRC001 and define a new anomalous corridor to the west. These results build on earlier rock-chip sampling south of SFSRC001 that returned several high-grade assays, extending the target area up to ~600 m to the south.

Key technical highlights

• Second gold-anomalous corridor defined: Soil auger results confirm a parallel zone west of the main Fairview South trend, providing an immediate drill target.
• High-grade rock chips south of SFSRC001: including 25.60 g/t Au from gossanous siltstone, 8.79 g/t Au from brecciated quartz–gossan in altered felsic volcanic rocks, and multiple samples between 1.1 g/t and 4.5 g/t Au.
• Strong discovery hole already in place: earlier in the year RC hole SFSRC001 intersected 40 m @ 1.96 g/t Au from surface, including 17 m @ 4.18 g/t Au from 9 m and 1 m @ 49.2 g/t Au from 10 m, confirming Fairview South as a high-quality, near-surface gold target.
• Favourable structural setting: Fairview South sits on the margin of a large magnetic feature over a gravity low – a setting the company regards as highly prospective.
• Parallel work at S41: Alongside Fairview South, reconnaissance RC drilling will also be completed at the nearby S41 breccia-hosted gold target (in areas not currently under crop) to in-fill earlier wide-spaced aircore to ~200 m × 200 m and progress a large, early-stage hydrothermal gold system.

Comments from management

“We’re excited to get back on the ground at Fairview South. The combination of soil auger anomalism, high-grade float and the structural position of the prospect is exactly the kind of setting we like to see,” Executive Chair and Managing Director Chris Cairns said.

“Importantly, the textural and alteration features we’re mapping at surface – banded quartz veins, carbonate dissolution textures and adularia – all point to a favourable, multi-stage mineralising history, consistent with quartz–sulphide–gold and low-sulphidation epithermal systems. This next round of RC drilling will let us test those southern extensions quickly.”

The company said the Phase 3 RC program would focus first on the newly defined parallel corridor south and west of SFSRC001 before stepping out to additional auger-supported targets. Results will be reported as assays are received.

Perth, WA | 3 November 2025 — Petratherm Limited (ASX: PTR) has commenced resource drilling at its Rosewood Titanium Project in South Australia, targeting a maiden JORC (2012) Mineral Resource across a ~40 km² footprint before year-end. The air-core (AC) program totals more than 400 holes (~8,000 m), with assaying to follow.

Highlights

• Maiden Resource in sight: Drill spacing designed to deliver an Indicated Resource at Rosewood East, with a surrounding Inferred Resource across the broader area (from 200 m × 500 m down to 100 m × 200 m).
• Scale & tempo: ~400 AC holes / ~8,000 m; average depth ~20 m (to ~40 m in thicker zones); program scheduled to finish pre-Christmas.
• High-grade, near-surface heavy mineral (HM) sands: Two broad zones over ~22 km² with ≥10 m @ >5% HM, and much of the area ≥10 m @ >8% HM, starting from ~5–7 m depth and lying flat.
• Metallurgical credentials: Valuable Heavy Mineral (VHM) content to ~95%, dominated by high-value titanium minerals; coarse-grained HM amenable to high recoveries using conventional gravity spirals.
• Assays & studies: Samples dispatched weekly to Diamantina Laboratories (Perth); additional characterisation (incl. XRF and related techniques) to support domaining and the resource model.
• Tenure & JV: Rosewood East (EL6855) — 100% PTR; Rosewood West (EL6715) — PTR 70% / Narryer Metals (ASX: NYM) 30%.
• Baseline environmental work: ERIAS Group engaged for flora/fauna studies across the project and a potential ~35 km haul route to rail sidings east of Rosewood, supporting future approvals.

Comments from management

“Several rounds of exploration drilling over the last 12 months have confirmed the Rosewood Titanium Project as a major high-grade HM discovery. We are now undertaking infill drilling to support a maiden JORC (2012) Resource, with the aim of converting a significant portion of the prospect to the Indicated category.”

“In parallel, we are accelerating long-lead baseline environmental work with ERIAS Group so that development studies can progress efficiently. We look forward to providing further updates as drilling and assays come to hand.”
— Peter Reid, Chief Executive Officer

Petratherm expects the infill program to deliver strong dataset coverage for the resource estimate while environmental baseline work proceeds in parallel. Further updates will follow as drilling and assaying progress.

31 October 2025 | Perth, WA — Gold and silver are on track to set fresh record annual averages in 2025 and push higher again in 2026, before momentum eases in 2027, according to the World Bank’s October Commodity Markets Outlook.

Highlights
• Precious metals have surged on safe-haven demand and continued central-bank buying. The World Bank projects gold +42% in 2025 and +5% in 2026 (annual averages), while silver +34% in 2025 and +8% in 2026.
• Broader commodities are expected to soften, with the Bank forecasting -7% in 2025 and -7% in 2026, taking the overall basket to a six-year low as energy prices ease on an expanding oil glut and slower global growth.
• Market commentary around the report suggests new highs for gold and silver in 2026, with the rally likely to fade in 2027 as macro risks moderate and financial conditions stabilise.

What it means for WA miners
• Elevated USD precious-metal prices through 2026 should continue to support margins, hedging strategies and funding windows for development and expansion.
• Explorers can expect improved conditions for equity and JV funding into 2026; capital discipline remains key as input-cost volatility persists.
• Producers may consider using 2026 strength to firm up margins (hedging/offtake) while planning for price normalisation into 2027.
• Key swing factors: geopolitics (which could extend safe-haven flows), the path of real rates, OPEC+ supply policy, and the pace of EV adoption impacting energy markets.

Risks & Watch-items
• Upside: renewed geopolitical shocks, stickier inflation or deeper financial-system stress could prolong the precious-metals bid.
• Downside: faster-than-expected disinflation, a firmer USD, or an accelerated improvement in global growth could cool investment demand for gold and silver into 2027.
“Image: World Bank, Commodity Markets Outlook — October 2025. Licensed CC BY 3.0 IGO.

27 October 2025 | Leonora–Laverton, WA – Arika Resources (ASX: ARI) has commenced an approximately 5,000m RC drilling program at the Pennyweight Point prospect within the Yundamindra Gold Project (ARI 80%; NME 20%). The campaign is designed to extend known mineralisation and test newly defined ‘blind’ bedrock targets highlighted by recent geophysical work.

• Extending high-grade zones: Initial holes will follow up standout results including 35.76m @ 2.14g/t Au from 104.27m (incl. 13.46m @ 5.28g/t), 23.97m @ 2.54g/t Au from 162.03m (incl. 5.38m @ 10.62g/t), 14m @ 15.48g/t Au from 46m, and 30m @ 3.86g/t Au from 64m.
• New IP targets: Recent Induced Polarisation surveys refined priority anomalies north and south of Pennyweight Point, mapping the tonalite–mafic contact and subtle chargeability responses interpreted as sulphide alteration halos—potential vectors to additional lodes.
• Pathway to a maiden Resource: A third phase of close-spaced definition drilling is planned to support a maiden Mineral Resource estimate.

Pennyweight Point hosts a wide, high-grade orogenic lode system within tonalite (granite) along a sheared contact with mafic volcanics (basalt). Mineralisation strikes NE, dips moderately SE and plunges south, with drilling to date defining ~350m of strike to ~150m vertical depth—open in all directions.

Managing Director Justin Barton said: “We’re pleased to have the rig back at Pennyweight Point, our highest-rated and most advanced prospect at Yundamindra. The recent geophysical programs have significantly advanced our understanding of the ore-hosting structures and the best places to find extensions of the known high-grade mineralisation. Pennyweight Point, alongside Landed at Last, is shaping as a primary focus for initial resource development, and this ~5,000m program combines near-resource definition with step-out drilling and first-pass tests of compelling new bedrock targets immediately along strike.”

What’s next
• Ongoing RC drilling at Pennyweight Point, with results released as received and interpreted
• Integration of IP, magnetics and gravity to prioritise further step-outs
• Continued target generation across Yundamindra, including Yellow Brick Road and corridor prospects

Perth, 22 October 2025 — Precious metals are attempting to find a floor after Tuesday’s sharp correction. Gold fell more than 5% from Monday’s record highs (near US$4,380/oz), closing around US$4,125/oz, while silver dropped about 8% to roughly US$48.5/oz. Early Wednesday trade has been choppy as prices consolidate in the wake of the move.

Analysts point to profit-taking after an overbought run, a firmer US dollar, and a modest improvement in risk appetite as key drivers of the pullback. Even so, gold remains significantly higher year-to-date in 2025, with silver also markedly stronger on the year.

What this means for WA miners and contractors

• Budgets & plans: Despite volatility, elevated AUD-gold levels continue to underpin exploration and near-mine work programs across WA.

• Hiring mix: We expect short-notice contractors (Exploration Geologists, Field Assistants, Core Yard, Drill & Blast support) to remain in demand as operators keep optionality while markets settle.

• Rates & rosters: Contractor day rates are likely to remain firm; some clients may temporarily prioritise critical path roles and staged mobilisations.

• Vendors & timelines: Expect a brief period of re-pricing and approvals checks rather than wholesale cancellations; strong asset margins at current levels still support activity.

Looking ahead
Markets will watch the US inflation print and the upcoming Fed decision for direction on yields and the USD—both important for bullion. A stable macro backdrop, ongoing central-bank interest and elevated geopolitical risk continue to provide medium-term support for gold.

If you’re planning campaigns or need immediate cover for rigs, mapping, data integrity or sampling, our team can mobilise WA-ready talent quickly across the Goldfields, Pilbara and Yilgarn.

20 October 2025 | Perth, WA – BMG Resources (ASX: BMG) has reported multiple high-grade gold lodes from its first RC drilling at the 100%-owned Bullabulling Gold Project in WA’s Eastern Goldfields, with results at Bullabulling North confirming the same quartz-vein granodiorite host seen at the adjacent 2.3Moz Bullabulling Gold Mine.

Program highlights

• Poolmans: 2m @ 3.8g/t Au from 47m; 2m @ 8.5g/t Au from 78m to EOH (incl. 1m @ 15.8g/t); additional 1–2m high-grade hits across the Main, Hangingwall and Footwall lodes. Mineralisation remains open in all directions.
• Peaches (first drilling by BMG): 2m @ 4.3g/t Au from 75m; 2m @ 3.0g/t Au from 46m (within 14m @ 0.40g/t from 66m), confirming bedrock high grade on a wide-spaced 100m grid.
• Early-stage prospects: Flame and Grizzly returned anomalous gold, supporting further testing.

Recent drilling by Minerals 260 (ASX: MI6) at the neighbouring Bullabulling Mine reported 22m @ 3.25g/t Au and 162m @ 1.1g/t Au, with mineralisation open to the west. BMG interprets this trend as potentially continuing into its Bullabulling West tenure, where prospective greenstones abut MI6 ground.

Non-Executive Chairman John Prineas said the first BMG program “has identified multiple high-grade lodes and expanded the known footprint at Poolmans, while discovering high-grade bedrock gold at Peaches,” adding that Bullabulling West will be prioritised to test for stacked, west-dipping lodes analogous to the mine immediately to the south.

What’s next

• Finalise follow-up drilling for Bullabulling North
• Plan a maiden program at Bullabulling West to test the west-open trend from the MI6 ground
• Prepare Q4 2025 drilling across priority targets

13 October 2025 | Northern Territory – Litchfield Minerals (ASX: LMS) has reported its most significant intersection to date at the Oonagalabi Project, with geological logging and pXRF readings indicating more than 100 metres of copper–zinc sulphide mineralisation in OGRC010 from surface, including multiple broad higher-grade zones.

Highlight intervals (pXRF, preliminary):
• 104m @ 1.37% CuEq from surface (0.92% Cu, 1.59% Zn)
• including 41m @ 1.42% CuEq from surface
• 30m @ 1.02% CuEq from 98m
• 33m @ 1.69% CuEq from 144m, including 21m @ 2.26% CuEq from 144m

The hole targeted the western high-chargeability IP anomaly (+25 mV/V), reinforcing a strong correlation between chargeability and disseminated Cu–Zn sulphides. The folded eastern IP anomaly is interpreted to host similar mineralisation and is slated for drilling later in this Phase 2 program. The company notes that every hole drilled across current and prior programs has intersected copper, highlighting the scale and continuity of the system.

Management comment:
Managing Director Matthew Pustahya said: “Hole 10 is a positive milestone for proving this system hosts grades as well as volume — over 100m of copper sulphide mineralisation with multiple high-grade zones is an outstanding outcome. Every hole to date has hit copper mineralisation, reinforcing the strength and continuity of this system. While drilling has been slower than planned, both rigs are on priority targets and we’re confident the coming weeks will deliver further strong results. We are extremely excited to be drilling VT2, a ~500m-long, highly conductive plate independently reviewed as likely sulphide-sourced, and mapping over VT1 has already returned copper, gold, silver and tellurium directly above a strong conductor.”

Next steps:
• Assays fast-tracked to confirm copper, zinc, gold, silver and associated elements from OGRC010 and other recent holes
• Follow-up drilling across the eastern IP anomaly and along the VT1/VT2 conductor corridor
• Ongoing integration of IP/VTEM, geology and pXRF to refine targets

Note: pXRF values are indicative only. CuEq figures are based on stated metal prices and assumed metallurgical recoveries.

7 October 2025 | Perth, WA – Minerals 260 (ASX: MI6) has reported another strong set of assays from ongoing drilling at the Bullabulling Gold Project (25km west of Coolgardie), further supporting an upgrade to the current 2.3Moz Mineral Resource in December 2025.

Results from 73 holes (16,415m) include standout intercepts at Bacchus such as

• 10m @ 7.0g/t Au from 204m (BBRC0261),
• 7m @ 8.8g/t Au from 135m (BBRC0263),
• 32m @ 1.6g/t Au from 33m (BBDD0032) and
• 3m @ 14.9g/t Au from 25.6m (BBDD0035).

At Phoenix, new extensional hits include

• 4m @ 11.2g/t Au from 282m (incl. 1m @ 38.4g/t from 284m) in BBRC0286,

while infill at Kraken delivered

• 15.3m @ 1.7g/t Au from 31.4m (BBDD0040) and
• 7.4m @ 1.8g/t Au from 244m (BBDD0041).

The program continues to confirm continuous, multi-lode mineralisation along Bullabulling’s 8.5km strike, with shallow higher-grade zones emerging in and beneath existing pit shells—particularly along the Bacchus footwall shear—which could enhance early mine schedule grades. Around 90,000m of drilling will feed the updated MRE due early December 2025, with the remaining ~20,000m to be incorporated into a further update in 2026. Pre-Feasibility Study activities are advancing in parallel, with geotechnical and metallurgical drilling completed and testwork underway. Minerals 260 says the results reinforce the robustness and growth potential of Bullabulling as it progresses both resource conversion (to Indicated for Ore Reserve work) and depth/strike extensions across Bacchus, Phoenix and Kraken.

“Our infill and extensional drilling is consistently delivering strong results… the latest thick and shallow higher-grade intercepts provide further support for a MRE upgrade in December. Our development studies are advancing rapidly… geotechnical and metallurgical drilling for the PFS and the commencement of metallurgical test work represents a significant value-adding and de-risking event for the Project.” — Luke McFadyen, Managing Director.