In its 2026 annual report, Anax Metals said it commenced front-end engineering design for Whim Creek in July to refine work completed in the definitive feasibility study and support a final investment decision targeted for the December 2026 quarter. The company said financing discussions and due diligence were actively progressing.
Anax said it had received indicative debt financing offers of up to US$40 million relating to its 80% interest in Whim Creek. The offers remain non-binding and are subject to further due diligence, final credit approval and binding documentation.
The company said the Whim Creek Project is fully permitted for mining and processing operations, including in-pit tailings. Anax holds an 80% interest in the project, with Develop Global holding the remaining 20%.
Anax also reported that it began a heap-leach feasibility study in September, targeted for completion in the March 2027 quarter. The study will assess a potential second processing stream for lower-grade and transitional ores alongside the proposed sulphide concentrator using existing permitted heap-leach infrastructure.
Source: Download ANX official ASX announcement, 2026-09-22.
Anax Metals Limited 2026 Annual Report announcement cover, dated 22 September 2026.