South32 revises Taylor higher on cost and timeline
South32 (LSE:S32) fell 2.62% to 215.2p after raising the capital expenditure estimate for its Taylor copper project to US$3.3bn, and pushing back the shaft ramp schedule. Chief Executive Officer Graham Kerr framed the revision as a reaffirmation of the project's long-term value, citing Taylor's potential to deliver attractive shareholder returns through long-life, low-cost production of Zinc, silver and lead. The updated assessment reflects a more detailed view of project execution requirements rather than any change to the underlying resource quality.
Ajax backs Italian uranium play via Reveille stake
Ajax Resources (LSE:S32) agreed to invest £200,000 for a majority holding in Reveille Resources, securing exposure to two historical uranium deposits in Lombardy, Italy. The deal comes as Reveille prepares to seek admission to the Aquis Growth Market, giving Ajax a foothold in European critical minerals at an early stage. The investment positions Ajax ahead of any formal listing process for Reveille.
New Frontier eyes copper pathway via Big One visit
New Frontier Minerals (LSE:NFM) slipped 5.18% To 0.403p as it announced plans to inspect the Big One Deposit alongside Austral Resources under an existing memorandum of understanding. New Frontier has also applied for approximately 585km² of adjacent tenements to consolidate its NWQ Copper Project. The move is designed to advance a pathway to potential copper production through Austral's Mt Kelly processing infrastructure.
First Tin upgrades Taronga resource to 97,700t M&I tin
First Tin (LSE:1SN) dropped 3.85% To 12.5p despite delivering a materially upgraded JORC-compliant mineral resource estimate for its 100%-owned Taronga tin project in Australia. The update converts a large tranche of previously Inferred material to Measured and Indicated, lifting combined M&I contained tin to 97,700 tonnes. The upgrade strengthens the project's development credentials and improves the quality of the resource base ahead of further studies.
Alba flags high-grade rare earths at Merino prospect
Alba Mineral Resources (LSE:ALBA) held at 0.021p after reporting surface rock sampling results from its Merino prospect that returned total rare earth oxide grades up to 1.36%, with an average of 0.71% TREO. Niobium and zirconium also featured prominently, averaging 0.5% Nb₂O₅ And 1.2% ZrO₂, grades running approximately 2.6 times those recorded in Alba's existing Aries JORC area. The results point to Merino as a potentially higher-grade complement to the company's established resource.
Kefi confirms 13% Saudi JV stake as Jibal Qutman DFS advances
Kefi Gold and Copper (LSE:KEFI) surged 7.27% To 1.373p after confirming its 13% holding In Gold and Minerals SLA (GMCO), the ARTAR-led joint venture operating in Saudi Arabia. GMCO has delivered two discoveries to date and is progressing the Jibal Qutman gold project through a Definitive Feasibility Study, with a Final Investment Decision targeted for 2026. The confirmation of the stake removes uncertainty around Kefi's position in the venture ahead of that milestone.
Glencore holds guidance after copper surge offsets zinc weakness
Glencore (LSE:GLEN) edged up 0.99% to 558.8p after reiterating unchanged full-year 2026 production guidance following a mixed first quarter. Own-sourced copper rose 19% To 199,600 tonnes in Q1, a standout performance that offset declines in zinc and cobalt, where mine closures and DRC export quotas weighed on output. Chief Executive Gary Nagle's decision to hold guidance signals confidence that the copper strength can compensate for weakness elsewhere across the portfolio through the remainder of the year.
Blencowe completes Beehive assays ahead of maiden JORC
Blencowe Resources completed the final shallow assays at its Beehive graphite deposit, with the headline intercept delivering 22.23 metres true width at 7.73% TGC. The completed dataset sets the stage for a maiden Beehive JORC Mineral Resource Estimate and an updated resource for the broader Orom-Cross project. The assay programme's conclusion removes the last data gap before the company moves to formal resource declaration.
Iofina shares jump on 22% revenue growth and H1 guidance
Iofina posted full-year 2025 revenue of $66.5m, a 22% year-on-year increase, driven by a 17% rise In crystalline iodine production. Adjusted EBITDA climbed 56% To $11.8m, reflecting improved operating leverage across the iodine extraction business. The results were accompanied by first-half guidance, giving investors a forward view that the market received positively.
Kazera extends CEO loan as liquidity pressure mounts
Kazera Global extended repayment of an unsecured loan from Chief Executive Richard Jennings to 1 December, and increased the facility by up to £500,000 to address near-term liquidity needs. The arrangement keeps the company funded in the short term but underscores the financial constraints facing the business, with the CEO effectively acting as a lender of last resort to bridge the gap.
